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Arko buys chain of 135 convenience stores
Arko Corp., a Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC, has closed the acquisition of South Carolina-based Transit Energy Group, which is valued at $370 million plus the value of inventory. The transaction, announced Thursday. includes 135 convenience stores, supply fuel to[...]
Liberty to pay off $189M in bonds early
Liberty University plans to pay off more than $189 million in taxable bonds next month, according to paperwork filed Wednesday by the Bank of New York Mellon Trust Co. NA. The prices will be set March 31, which will include accrued interest. Liberty issued a $100 million bond in 2012 with a 5.1% interest rate, […]
Chambers of commerce
STATEWIDE Asian American Chamber of Commerce | Tysons | (571) 633-9754 asian-americanchamber.org Virginia Asian Chamber of Commerce | Ashland | (804) 344-1540 aabac.org Virginia Chamber of Commerce | Richmond | (804) 644-1607 vachamber.com Virginia Hispanic Chamber | North Chesterfield | (804) 378-4099 vahcc.com CENTRAL VIRGINIA Altavista Area Chamber of Commerce | Altavista | (434) 369-6665 […][...]
Building blocks
If you ask economic development officials in Central Virginia about 2022, they might respond with a familiar slogan: “Everything is awesome.” With almost 5,000 announced jobs and $1.6 billion in capital investment, the Richmond region had one of its best years in the last two decades. By October 2022, the region recovered 10[...]
A ‘golden unicorn’
Chesterfield County Economic Development Director Garrett Hart and Managing Director Matt McLaren had no idea which global client a site selection consultant was representing when the county was approached in November 2021 to discuss a potential major economic development megaproject. “All we knew is that they were in manufact[...]
Sadler Square subdivision in Glen Allen to start sales in 2024
Construction on Sadler Square, a 128-home development in Glen Allen will begin this year, with homes ready for sale in 2024, Vienna-based real estate developer Miller & Smith announced mid-February. The 54-acre development is located at 4350 Glasgow Road near the Short Pump/Innsbrook Interstate 64 interchange on West Broad S[...]
Midlothian luxury apartment complex begins construction
Bainbridge Cos. has started construction in Chesterfield County on the 310-unit Bainbridge Midlothian luxury apartment complex, the Florida-based multifamily real estate company announced in mid-February. Bainbridge estimates the approximately 26.3-acre project at 12400 Dutton Road will be complete next summer. Units will range [...]
Lego to hire 500 Chesterfield employees by year’s end
The Lego Group plans to hire approximately 500 people for its $1 billion Chesterfield County manufacturing facility by the end of this year, according to the Danish toymaker’s head of talent operations in the Americas, Karra McCormack. Lego expects to create more than 1,760 jobs over 10 years. The company and Gov. Glenn Yo[...]
House lawmakers stifle creative entrepreneurs fund
RICHMOND, Va. — Creativity should be valued as an important part of the Virginia economy, said the state lawmaker behind legislation to create the Virginia Creative Economy Grant Program. Del. Jackie Glass, D-Norfolk, introduced House Bill 2376 to establish a dedicated funding source for grant awards no more than $20,000 e[...]
ASM Global to develop, run GreenCity arena in Henrico
ASM Global will develop and operate the 17,000-seat arena at Henrico County’s $2.3 billion GreenCity development, county officials announced Monday. Billed as what will be the nation’s greenest arena with net-zero energy impact, the venue is set to be part of a multiuse community with a focus on environmental sustain[...]
Markel announces next CFO
Teri Gendron will succeed Jeremy Noble as Markel Corp.’s chief financial officer on March 20, the Glen Allen-based Fortune 500 insurance and investment firm announced Tuesday. Noble became president of Markel’s insurance operations earlier this year. Gendron will oversee and manage the holding company’s financial operations across its three divisions: insurance, investments and Markel Ventures. […][...]
Petersburg casino bill passes Va. House
The Virginia House of Delegates narrowly passed a bill Tuesday that would allow Petersburg residents to vote on a casino referendum this fall. The legislation moves next to the Virginia State Senate, where a similar bill died in committee. Del. Kim Taylor, R-Dinwiddie, sponsored HB 1373, which passed 49-44 in the full House vote[...]
