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Economic Development

Oct 6, 2020

Richmond extends deadline for small business, nonprofit relief program

The city of Richmond has extended the deadline for its Richmond Recovers Grant Program, giving small businesses and nonprofits until Oct. 19 to apply for grants ranging from $10,000 to $15,000, Richmond Mayor Levar Stoney’s office announced Tuesday. The city allocated $3 million of its federal CARES Act funding to the program, which has $1.68 […]

Oct 6, 2020

Hampton Roads State of the Region report offers sobering look at COVID-19 impacts

Old Dominion University’s Dragas Center for Economic Analysis & Policy’s 2020 State of the Region report for Hampton Roads offers a sobering look at how the pandemic has harmed the regional economy and left tens of thousands of Hampton Roads residents jobless.  Employment in Hampton Roads fell dramatically, hotel occupancy continues to be outpaced by […]

Oct 1, 2020

Mount-It! to invest $7.45M in Prince George operation

Gov. Ralph Northam announced Thursday that mounting solutions distributor Mount-It! will invest $7.45 million to establish its first East Coast warehouse and distribution facility in Prince George County, creating 85 jobs. Mount-It!, which provides more than 500 types of mounting products, will be located in the former Quality Way building in Prince George County. Virginia […]

Dominion Energy plans to develop the nation's largest wind farm — an $8 billion, 220-turbine project — off the coast of Virginia Beach by 2026. Photo courtesy Dominion Energy
Sep 29, 2020

Va. offshore wind industry could create 5.2K jobs, study finds

The offshore wind industry could create up to 5,200 jobs in Virginia (with a majority in Hampton Roads) and an estimated $740 million in total economic activity during the next several years, according to an economic impact analysis conducted by Henrico County-based Mangum Economics and released Tuesday by the Hampton Roads Alli[...]

Sep 28, 2020

On the fast track

Six Hampton Roads-based companies, including two newcomers, landed on the Virginia Chamber’s 2020 Fantastic 50 list of the state’s fastest-growing privately owned businesses. Due to the coronavirus pandemic, the winners were recognized during a virtual event held in May. To qualify for the Fantastic 50, nominees’ fiscal revenues had to exceed $200,000 and be less […]

A retired commercial real estate broker, Fredericksburg Mayor Mary Katherine Greenlaw says that the region’s rapid growth in recent decades has driven a hot real estate market. Photo by Will Schermerhorn
Sep 28, 2020

This burg has grown

Three-term incumbent Fredericksburg Mayor Mary Katherine Greenlaw recalls when her city moved at a slower pace, as did surrounding Spotsylvania and Stafford counties. All that has changed, profoundly. Fredericksburg’s population has jumped by more than 50% during the past 20 years, from 19,279 in 2000 to an estimated 29,036 in[...]

The Pamunkey Indian Tribe plans to build a $500 million casino and resort on the Elizabeth River if Norfolk voters approve the project on the November ballot. Rendering courtesy Pamunkey Indian Tribe
Sep 28, 2020

Chips on the table

On Election Day, Norfolk and Portsmouth voters will decide whether to hold ’em or fold ’em. The two Hampton Roads cities will consider separate Nov. 3 ballot referendums on large casino projects that promise jobs, tax revenue, increased area tourism and funds for school construction. “It’s new for Virginia, for sure,” [...]

A DroneUp team prepares to test launch drones carrying personal protective equipment in May in Lawrenceville. Photo courtesy DroneUp
Sep 28, 2020

By land, sea and air

Faced with challenges associated with the COVID-19 pandemic, many Hampton Roads businesses and universities are looking to drones for help. Unmanned flight systems also are likely to drive economic development in the future. In May, when the fear of dwindling personal protective equipment was still fresh, the Herndon-based Cente[...]

The Hampton Roads Bridge-Tunnel is set to expand to eight lanes by 2025. Photo by Mark Rhodes
Sep 28, 2020

The big dig

With construction beginning this fall to expand the Hampton Roads Bridge-Tunnel (HRBT), relief is on the way for travelers weary of sitting in traffic jams along one of south-eastern Virginia’s most congested corridors. The $3.8 billion expansion is the largest project in the history of the Virginia Department of Transportatio[...]

Sep 28, 2020

Executive Insights

David C. White Executive vice president, Virginia Maritime Association What do you consider the most pressing issue facing the Hampton Roads region?  The maritime industry is in the best position to drive the economic growth and job creation for the region. Capacity at the container terminals has been increased to move an additional 1 million […]

Mack Trucks plans to employ 250 workers at its new Roanoke County plant by February.
Sep 28, 2020

Mack medium duty trucks on the road again

Founded by two brothers 120 years ago, Mack Trucks Inc. is an iconic American brand and image — snub-nosed trucks adorned with bulldogs because of a nickname earned in World War I. And since Sept. 1, all of Mack’s medium duty trucks are being built in Roanoke County’s Valley TechPark. The company, part of Sweden’s [&hell[...]

Illustration by Chris Danger
Sep 28, 2020

Is Trump good for business?

President Donald Trump entered the White House in 2017 with no political experience but a lifetime spent in business. Nearly four years later, with the incumbent Republican president up for reelection against Democrat Joe Biden, a former vice president who has been in politics for 50 years, Virginia voters are asking themselves:[...]

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