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Economic Development

Sep 29, 2024

Chips on the table

This story has been updated since publication.  For Roy Corby, Hampton Roads evokes vacation vibes. He grew up in Ocean City, New Jersey, but his family vacationed regularly in Virginia Beach for a change in seaside scenery. Nearly two years ago, Corby returned to open and run Rivers Casino Portsmouth as its general manager. It[...]

Sep 29, 2024

Growth in the valley

It can take a village — or a valley — to attract a multinational corporation. Shenandoah Valley economic and workforce development officials combined forces to entice Northrop Grumman to locate a 315,000-square-foot advanced electronics manufacturing and testing facility on a 63-acre site in Waynesboro, a project announced i[...]

Sep 29, 2024

Building out

Hampton Roads always has plenty going on, and in this issue of Hampton Roads Business, we’ll take you on a tour around the region to check in on some of the largest and most consequential projects that are under development.   In our main feature, “Latest and greatest,” freelance writer Jim Morrison will bring you up [&h[...]

Sep 29, 2024

On the ledger

This story has been updated since publication. With its 2023 purchase of Farmers Bankshares for $53 million, Suffolk’s TowneBank secured its leadership of the Hampton Roads banking market with a nearly 28% share. Truist Bank remains in second place at 23.72%, and the rest of the top five banks in the market are Wells Fargo, [&[...]

Sep 29, 2024

Growth on the horizon

Patients in Hampton Roads will have another option for health care in spring 2025 with the opening of the 98,000-square-foot Bon Secours Harbour View Medical Center in Suffolk. Construction is moving along on the $80 million facility, which will include 18 inpatient rooms and four operating rooms in the expansion of its existing[...]

Sep 29, 2024

Latest and greatest

By late spring, surf will be up at Atlantic Park on the former site of The Dome, Virginia Beach’s distinctive geodesic dome convention center and concert hall that was torn down in 1994. Atlantic Park, a $350 million mixed-use entertainment venue and surf lagoon project at the Oceanfront, is the highest profile project in the [...]

Sep 29, 2024

Executive insights

Virginia Business asked six Hampton Roads leaders to discuss how their organizations are contributing to the region’s success and meeting challenges such as sustainability, regional cooperation and workforce training. LAURA HAYES CHALK Executive director, Virginia Beach Vision, Virginia Beach Virginia Beach Vision is partly focused on resiliency and sustainability — what do you hope to […][...]

An overhead photo of a manufacturing facility surrounded by mountains.
Sep 24, 2024

Manufacturer plans $5M expansion in Scott County

VFP, a manufacturer of enclosures used to protect critical infrastructure, will invest $5 million to expand its Scott County facility, a move expected to create 50 jobs, Gov. Glenn Youngkin announced Monday.  The expansion will allow VFP to respond to a growing data center market.  “Virginia’s robust data center industry r[...]

A man in a tie and blazer speaks to a crowd from behind a podium.
Sep 17, 2024

Kongsberg to build $101M missile plant in James City County

Kongsberg Defence & Aerospace, a subsidiary of Norway’s Kongsberg Group, plans to establish its first U.S. defense assembly plant in James City County, investing more than $100 million and creating an estimated 180 jobs, Gov. Glenn Youngkin announced Tuesday.   The company expects to invest $71 million in a 150,000-s[...]

Sep 12, 2024

Va. Chamber president and CEO to retire

Virginia Chamber of Commerce President and CEO Barry DuVal plans to retire in early 2025, the chamber announced Thursday. DuVal became head of the chamber in April 2010. During his 14-year tenure, the business advocacy organization has grown from around 1,000 members to more than 32,000. “During his tenure with the Virginia Ch[...]

The Henrico Global Business Gateway will be based in the upcoming Gather location at 4101 Cox Road.
Sep 10, 2024

Henrico EDA program will help international businesses get foothold

The Henrico Economic Development Authority is launching a global business gateway program for internationally headquartered companies seeking to establish a presence in the United States. The Henrico Global Business Gateway, which the EDA announced Tuesday, will provide international businesses with office space for up to three [...]

Sep 5, 2024

Pump, valve manufacturer to expand in Henrico

KSB USA/North America, a Henrico County-based pump and industrial valve supplier, will invest $25 million to more than double the square footage of its facility there, a project expected to create 32 jobs, Gov. Glenn Youngkin announced Thursday. As part of the expansion, KSB will add another loading dock office space and update its shipping […]

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