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Canadian company to spend $22.8M to expand to Suffolk
Toronto-based Automatic Coating Ltd., which provides advanced custom powder, liquid, and blasting, will invest $22.8 million to open its first U.S. location in Suffolk, adding an estimated 50 jobs, Gov. Glenn Youngkin announced Thursday. Virginia competed with Florida for the project. The move supports an existing contract with [...]
Sandpaper manufacturer to expand in Va. Beach
Hermes Abrasives USA, the U.S. subsidiary of Hamburg, Germany-based Hermes Abrasives, will invest $5.6 million in a Virginia Beach expansion that will add an estimated 30 jobs, Gov. Glenn Youngkin announced Wednesday. Hermes Abrasives manufactures coated and bonded abrasives and grinding tools. The company will return its narrow[...]
VIPC leader to step down
Virginia Innovation Partnership Corp. President and CEO Robert “Bob” Stolle will step down from his role in September after 13 years with the not-for-profit state corporation and its predecessor. Stolle became CEO of VIPC’s predecessor, the Center for Innovative Technology, in 2020. Before that, he was the economic develop[...]
Hazelwood Farms is set to become industrial park
A 328-acre former James City County farm is set to become the largest speculative industrial project along the Interstate 64 corridor between the Port of Virginia and Richmond. Hazelwood Farms was purchased for $12 million in April by Houston-based industrial real estate firm Lovett Industrial, which plans to develop a 2.2 mil[...]
Amazon plans Spotsylvania data centers
A game changer. That’s how Spotsylvania Board of Supervisors Chair David Ross describes the annual tax revenue the county could see from data centers, including a slate of proposed Amazon.com facilities that could generate $120 million per year. “You could get rid of personal property tax on cars,” Ross says. “You could [...]
Albemarle seeks to expand region’s defense sector
It’s no secret: Albemarle County is banking on the $58 million purchase of 462 acres around a military spy outpost to anchor the region’s defense community. On May 24, the county Board of Supervisors approved a contract to acquire the undeveloped and former farmland tract along along Route 29 adjacent to Rivanna Station — [...]
Polish glass fabricator expanding in Henry County
Poland-based Press Glass Inc. will spend more than $155 million to expand its operations in Henry County and add 335 jobs, marking the largest expansion in the county’s history, Gov. Glenn Youngkin announced Wednesday. The largest independent glass fabricator in Europe, according to a news release, Press Glass will constru[...]
Central Va. Transportation Authority names first leader
Chet Parsons will serve as the Central Virginia Transportation Authority’s first executive director, the organization announced Thursday. Parsons has served as director of transportation for PlanRVA, also known as the Richmond Regional Planning District Commission, since 2019. CVTA finances transportation projects across t[...]
Charlottesville-based Virginia Diodes to expand, invest $2.5M
Virginia Diodes Inc. (VDI) will invest $2.5 million to expand its operations in Charlottesville, adding an estimated 24 jobs, Gov. Glenn Youngkin announced Thursday. VDI was founded in Charlottesville in 1996 as a spinoff from the University of Virginia and in 2004 established its headquarters at the city’s Ix Art Park complex. The company manufactures […]
Henrico County, Markel|Eagle acquire land for GreenCity
Henrico County and an affiliate of Markel|Eagle Partners LLC came to an agreement Thursday to purchase the 110-acre Scott Farm property, which will be a key part of the $2.3 billion mixed-use GreenCity development, for $35.1 million. First proposed in December 2020, GreenCity plans to include what is billed as the nation’s[...]
Big deals
CENTRAL VIRGINIA Appomattox: In November 2022, Virginia MetalFab, a precision sheet metal fabricator, moved from Nelson County’s Gladstone area to nearby Appomattox, where it’s leasing the former Thomasville Furniture plant, which shuttered in 2011. Founded in 2002, Virginia MetalFab manufactures metal parts and assemblies f[...]
Va. edges up to No. 2 in CNBC poll
Cited once more for its educational prowess, Virginia moved from third place last year to second place this year in CNBC’s annual Top States for Business rankings. Our neighbor to the south, North Carolina, won the top spot for a second year in a row. “Virginia is our most decorated state, a five-time winner,” the [&hellip[...]
