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Stephen Moret to leave VEDP
Virginia Economic Development Partnership President and CEO Stephen Moret will leave VEDP to become president and CEO of Indianapolis-based Strada Education Network in January, Strada and VEDP announced Wednesday. Moret expects that VEDP’s board will appoint Executive Vice President Jason El Koubi to serve as interim CEO a[...]
Amazon to open East Coast supply chain hub in Stafford
Amazon.com Inc. will establish a new cross-dock fulfillment center in Stafford County, serving as an East Coast supply chain hub and creating 500 jobs, Virginia Gov. Ralph Northam announced Tuesday. The 630,000-square-foot facility at the Northern Virginia Gateway industrial site in Stafford will be responsible for the beginning[...]
Dominion offshore wind farm cost climbs to $9.8B
Dominion Energy Inc.’s offshore wind farm will cost about $2 billion more than expected, the Richmond-based Fortune 500 utility’s chair, president and CEO, Bob Blue, said during a third quarter earnings call Friday. Instead of the previously estimated $7.8 billion, the 2.6-gigawatt Coastal Virginia Offshore Wind (CVO[...]
Hampton Roads launches maritime workforce, economic initiatives
The Hampton Roads Maritime Collaborative for Growth and Innovation (HRMC) and Old Dominion University announced two maritime initiatives Thursday with the goal of strengthening economic development in the region. ODU President Brian Hemphill announced the establishment of the ODU Maritime Consortium, which will grow the universi[...]
Shenandoah Community Capital Fund to get $1M as part of federal program
The Shenandoah Community Capital Fund (SCCF) will receive $1 million in American Rescue Plan funding as part of the Community Navigator Pilot Program, the U.S. Small Business Administration announced Thursday. The program is an initiative meant to reduce barriers that small businesses, especially those owned by veterans, women, people from rural communities and communities of […]
The color of money
A dusty floor, lumber piles and strewn tools mark the signs of active construction in the future showroom of Pure Shenandoah LLC. CEO Tanner Johnson stands in the front room of the historic, renovated Casey Jones building in Elkton and describes the experience of a future customer. “You’ll come in right here to a cool [&[...]
Getting off the road
For years, residents in the Fredericksburg region looked north for opportunity and higher-paying jobs. But more homegrown jobs and remote work are signs of change for the area, says Curry Roberts, president of the Fredericksburg Regional Alliance, which includes Fredericksburg and the counties of Caroline, King George, Spotsylva[...]
VF Corp. to create 82 jobs in Henry County
Denver-based apparel and footwear company VF Corp. will create 82 jobs with a $10.2 million expansion within Henry County, Gov. Ralph Northam announced Thursday. The company will make upgrades within its 500,000-square-foot facility in Martinsville to increase distribution capacity and speed. “VF Corp. has thrived in Henry Cou[...]
Siemens Gamesa to build first U.S. offshore wind blade factory in Portsmouth
Siemens Gamesa Renewable Energy S.A., a Spanish wind turbine company, will invest $200 million to build the first U.S. offshore wind turbine blade manufacturing facility in Portsmouth, creating 310 jobs, Virginia Gov. Ralph Northam announced Monday from the Port of Virginia’s Portsmouth Marine Terminal. Siemens Gamesa is a[...]
Fed says Fifth District economy sees moderate growth
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal i[...]
Intact Technology to expand Fairfax HQ
Fairfax-based IT consulting firm Intact Technology will expand its headquarters, Gov. Ralph Northam announced Tuesday. The expansion will create more than 40 jobs, and Intact will invest at least $700,000, the governor’s office said. Virginia competed against Maryland for the project. In 2020, Intact relocated its headquarters from Greenbelt, Maryland, to Reston. The company was […]
Henrico green-lights $2.3B GreenCity project
The Henrico County Board of Supervisors this week unanimously approved rezoning the 204-acre former Best Products headquarters campus into the $2.3 billion GreenCity project, a major mixed-used development that will feature a 17,000-seat arena. GreenCity, which was proposed in December 2020, is also expected to include two hotel[...]
