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Marble Systems to build facility in Caroline County
A Fairfax County-based stone products manufacturer and distributor, Marble Systems, will invest $9.7 million on a warehouse and distribution center in Caroline County, creating an estimated 59 jobs, Gov. Glenn Youngkin announced Friday. Virginia competed with South Carolina, New Jersey and Georgia for the project, which will also include cut stone and stone product manufacturing […]
Three Va. universities have ‘some viability risks,’ report says
State researchers found Radford University, Virginia State University and the University of Mary Washington had “some viability risks,” according to a report released Monday, but none are in immediate danger of closing. The good news from the report conducted by the Joint Legislative Audit and Review Commission, which con[...]
VCU eyes purchasing Altria’s Richmond research facility
Officials with Virginia Commonwealth University are discussing with the Altria Group the possibility of buying its 450,000-square-foot research building in downtown Richmond, the two parties acknowledged separately this week. The Altria Center for Research and Technology, which opened in 2007, sits on more than four acres at 6[...]
Siemens Energy agrees to pay $104M over Dominion bidding scheme
Siemens Energy pleaded guilty and agreed to pay $104 million this week to settle a federal criminal investigation into stealing trade secrets in order to undercut competitors’ bids in 2019 to build a Dominion Energy gas turbine “peaker” power plant in the Richmond metropolitan area. The settlement comes after t[...]
Afton Scientific announces $200M Albemarle expansion
Afton Scientific, a manufacturer of sterile injectable pharmaceuticals, plans to invest over $200 million to expand its manufacturing facility in Albemarle County, Gov. Glenn Youngkin announced Wednesday. The expansion is projected to create more than 200 jobs. Founded by Thomas Thorpe in Charlottesville in 1991, Afton Scientifi[...]
For The Record October 2024
Central Virginia Fortune 500 company CarMax will be the naming sponsor for the Richmond Flying Squirrels’ new ballpark starting with the 2026 season, the Double-A Minor League Baseball team announced Sept. 4. The Diamond’s replacement will be known as CarMax Park. Although Squirrels President and Managing Partner Lou DiBella said that the deal with CarMax […]
Petersburg prepares for casino referendum vote
This November, Petersburg voters will decide the fate of a highly anticipated casino development that could transform the city’s struggling economy. If approved, the proposed $1.4 billion Live! Casino & Hotel Virginia project will be built on an undeveloped 100-acre site off Interstate 95, offering easy access to East Coas[...]
TowneBank to acquire Village Bank for $120M
Suffolk-based TowneBank has signed a definitive agreement to acquire Midlothian’s Village Bank and its parent company, Village Bank and Trust Financial, a deal worth approximately $120 million, the banks announced Tuesday. “Our TowneBank family is humbled and excited to partner with Village Bank and its team members,” Town[...]
Charlottesville Realtor named Virginia Realtor of the Year
Virginia Realtors named Denise Ramey of Charlottesville the 2024 Realtor of the Year on Sept. 18 in downtown Richmond at its annual awards ceremony. The award is given to professionals who make “proven contributions to the real estate industry through both personal and professional achievement and outstanding volunteerism.�[...]
Topsoe buys land for $400M plant in Chesterfield County
Topsoe, a Danish electrolyzer manufacturer, paid $4.95 million for about 57 acres in Meadowville Technology Park in Chesterfield County this summer, where the company plans to build a $400 million manufacturing plant. In April, Topsoe announced the investment, which is expected to create 150 jobs. The company will manufacture [...]
Judge approves LL Flooring’s sale of Sandston plant, assets
A Delaware Bankruptcy Court judge on Monday approved the sale of 219 LL Flooring stores to an entity connected to F9 Group, which is owned by Lumber Liquidators founder and former CEO Thomas Sullivan. The court also OK’d the $104.75 million sale of the bankrupt flooring company’s eastern Henrico County distribution c[...]
Virginia Realtors CEO retires
Virginia Realtors CEO Terrie L. Suit is retiring after 11 years heading the state’s largest trade association, according to a Sept. 14 announcement. Glen Allen-based Virginia Realtors, which represents 36,000 Realtors, has appointed Martin K. Johnson as interim CEO. He has held varying roles with the association, including sen[...]
