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Virginia rises to No. 2 in CNBC’s Top States for Business
Rated America’s best state for education, Virginia climbed to the No. 2 spot in CNBC’s 2023 Top States for Business rankings, with North Carolina taking the top spot for the second year in a row. “Virginia is our most decorated state, a five-time winner,” the cable business news network said Tuesday, “but you’ll pay dearly […]
Air compressor maker plans $7.4M Norfolk expansion
Norfolk-based Bauer Compressors Inc., a subsidiary of Munich-based Bauer Kompressoren Group, will invest $7.4 million to expand its production capacity in Norfolk, creating an estimated 47 jobs, Gov. Glenn Youngkin announced Wednesday. The company will increase its capacity to produce hydrogen and natural gas compressors. “Bauer’s long-term success in the city of Norfolk reinforces the [&h[...]
Agtech startup to invest $25M in Albemarle expansion
Agricultural biotech startup AgroSpheres will invest $25 million to expand in Albemarle County, creating an estimated 50 jobs, Gov. Glenn Youngkin announced Thursday. The company will increase production at its facility at 1180 Seminole Trail and build a research and development and demonstration facility for new products, which will be a pilot plant for a […]
Lynchburg transformer manufacturer to add 149 jobs
Industrial power equipment manufacturer Delta Star Inc. will invest $30.2 million to expand its manufacturing operation and headquarters in Lynchburg, creating an estimated 149 jobs, Gov. Glenn Youngkin announced Wednesday. The company will add 80,000 square feet of mobile power transformer manufacturing space to its 300,000-square-foot facility located at 3550 Mayflower Drive and will consolidate[...]
Henrico insurer to create 100 jobs in HQ expansion
Specialty insurer Richmond National Group Inc. will invest $350,000 to expand its Henrico County headquarters, a move expected to create more than 100 jobs, Gov. Glenn Youngkin announced Tuesday. The company, founded in 2021 as a holding company for Richmond National Insurance Co., will add 7,200 square feet of office space to its roughly 10,000-square-foot […]
Va. launching semiconductor workforce initiative
The commonwealth is launching a Virginia Alliance for Semiconductor Technology to foster a semiconductor industry workforce, funding its establishment with a $3.3 million Growth and Opportunity for Virginia (GO Virginia) grant. Gov. Glenn Youngkin announced the initiative Friday. In March, GO Virginia announced the $3.3 million grant to the program, then called the Virginia Nanotechnology [&hellip[...]
Lego breaks ground on $1B Chesterfield facility
The Lego Group broke ground Thursday on its $1 billion Chesterfield County manufacturing facility — launching the Danish toymaker’s first U.S. manufacturing plant and one of Virginia’s biggest economic development projects. The Billund, Denmark-based toy company known for its brightly colored plastic toy bricks and construction sets plans to hire 1,761 people to work at […]
Governor would delay subminimum wage ban for disabled workers
RICHMOND, Va. ‒ Gov. Glenn Youngkin recently recommended the General Assembly accept an amended version of a bill that ends the practice of paying subminimum wage to certain Virginia workers with disabilities. A certificate exemption under the federal Fair Labor Standards Act allows employers to determine pay for disabled workers based on a productivity calculation […]
Youngkin to meet with Taiwan’s president
Amid rising tensions with China, Virginia Gov. Glenn Youngkin will meet with Taiwanese President Tsai Ing-wen on his first international trade mission this month. Youngkin will travel to Taipei City, Taiwan; Tokyo; and Seoul, South Korea, from April 24 to April 29, according to a Tuesday news release. “I’m excited to represent the commonwealth in […]
Is ESG another CRT?
In January, Virginia Attorney General Jason Miyares joined a group of 24 other state attorneys general in challenging a U.S. Department of Labor rule allowing fiduciaries to consider environmental, social and corporate governance (ESG) criteria such as climate change in making investment decisions for retirement funds. The AGs argued that ESG practices work against investment […]
Youngkin announces $8.1M in GO Virginia grants
A variety of projects around the state intended to spur economic and workforce development will get a boost from $8.1 million in state GO Virginia grants, Gov. Glenn Youngkin announced Friday. The 17 projects are expected to add hundreds of jobs. Nearly $4.8 million will fund two Virginia Tech projects, including one expected to build […]
Norfolk tech startup plans $1M expansion
Norfolk-based digital magazine startup Magazine Jukebox Inc. (MJB) will invest $1 million to expand, moving from a coworking space into an office, and will create an estimated 20 jobs. Gov. Glenn Youngkin announced the expansion Tuesday. “We are proud that Magazine Jukebox, an emerging leader in the technology services sector, was founded in Virginia and […]
