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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, “b[...]
Not by coincidence
Norfolk Mayor Kenneth Cooper Alexander has a vision for his city that includes increasing revenue without creating additional taxes for residents. His focuses in achieving that goal include tourism, hospitality and entertainment — familiar parts of neighboring Virginia Beach’s economy. However, unlike Virginia Beach, he poi[...]
Fairwinds Landing project breaks ground in Norfolk
Developers broke ground Thursday morning on the Fairwinds Landing maritime operations and logistics center supporting Hampton Roads’ offshore wind, defense and transportation industries. The development project at Norfolk Southern Corp.’s Lambert’s Points Docks in Norfolk is being spearheaded by Fairwinds Landing LLC, a [...]
Biomass company to expand in Wythe County
Musser Biomass and Wood Products will invest $7.5 million to expand operations in Wythe County and add 10 jobs, Gov. Glenn Youngkin announced Wednesday afternoon. The company, a division of Musser Lumber Co., will more than double production of dried hardwood chips and sawdust that the company supplies to composite decking manufacturers, plastic extrusion companies, […]
Zim announces $30M expansion
Zim American Integrated Shipping Services Co. LLC will invest $30 million to expand its U.S. headquarters in Virginia Beach, creating several hundred jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. The expansion includes a move from Norfolk, where the company has had its U.S. headquarters since 2001. Zim is[...]
Buc-ee’s to open in New Kent by 2025
It’s official. Buc-ee’s, the Texas-size travel center chain, completed its purchase of property in New Kent County and will open its first Virginia location in the next two years, with three more slated across the state, S.L. Nusbaum Realty Co. said in a news release. A groundbreaking date for the New Kent site has n[...]
Amazon HQ2 opens to high expectations
Let the tech wizardry begin: Amazon.com Inc. held the grand opening and ribbon cutting for the first phase of HQ2, the ecommerce goliath’s $2.5 billion East Coast headquarters in Arlington County, on Thursday. Dignitaries in attendance included Gov. Glenn Youngkin, Arlington County Board Chair Christian Dorsey, JBG Smith Prope[...]
Richmond riverfront amphitheater gets green light
Red Light Ventures LLC’s $30 million, 7,500-person riverfront amphitheater received a green light Monday from Richmond City Council, which approved a performance grant that paves the way for construction of the proposed music and performance venue to start as soon as this summer. With plans to host up to 35 major acts annu[...]
Norfolk City Council votes to purchase MacArthur Center
On Wednesday evening during a special meeting, Norfolk City Council members approved plans for the city to purchase the struggling MacArthur Center mall downtown for up to $18 million. The 23-acre MacArthur Center is owned by Wells Fargo & Co., which holds the mall following a loan default by the mall’s previous owner, C[...]
AWS reports it invested $51.9B in Va. from 2011-21
Amazon Web Services Inc. invested more than $51.9 billion in Virginia between 2011 and 2021, according to an economic impact statement released by the company Wednesday. That investment total includes capital and operational expenditures in Virginia, including Loudoun, Fairfax and Prince William counties, AWS said. During that s[...]
Maryland brewery plans expansion to Fauquier
Silver Spring, Maryland-based Silver Branch Brewing Co. will invest $3 million to open a location in Fauquier County, adding 38 jobs, Gov. Glenn Youngkin announced Monday. The expansion is the second location for the brewery, which is growing its production. Virginia competed with Maryland for the project. “Silver Branch Brewi[...]
James City County farmland sells for $12M
A Houston-based industrial real estate company has purchased a 328-acre former farm in James City County for $12 million with plans to develop facilities for manufacturers, importers and warehousing and distribution companies. Cushman & Wakefield | Thalhimer and sales partners Berkshire Hathaway HomeServices RW Towne Realty [...]
