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Park West office building in Va. Beach sells for $6.75M
A three-story office building in Virginia Beach sold for $6.75 million, real estate company Colliers International announced Tuesday. The 66,062-square-foot building developed in 1989 is located at 2877 Guardian Lane was sold by Park West Owner LLC to Guardian Lane West LLC. The property is located less than a mile from Intersta[...]
Winds of change
In September, Dominion Energy Inc. unveiled an ambitious, $8 billion project to erect the nation’s largest offshore wind farm off the Virginia Beach coast. If all goes to plan, it will power 650,000 Virginia homes by 2026. This year, Dominion expects to bring its offshore wind pilot project online and start ocean survey work o[...]
Cyclical patterns
Last June, Volvo Group announced plans to invest nearly $400 million, add 350,000 square feet to its Dublin complex in Pulaski County — already the largest Volvo truck plant in the world — and hire 777 new workers over the next six years. Five months after that announcement, though, Volvo said it would lay off […]
Banner year
You’d be hard pressed to find an economic development official who had a better first year on the job than Jay Langston did in 2019. With Langston at the helm, the Shenandoah Valley Partnership, a regional economic development group, announced a record $1.5 billion in business investment last year, anchored by Merck &[...]
A continuum of learning
While grocery shopping one evening in February 2019, Melissa Lubin received a phone call from Jay Langston, the new executive director of the Shenandoah Valley Partnership. A major employer in the region was looking to expand its operations, Langston told her, with more than 100 high-paying jobs and a multiyear investment that c[...]
Healthy and wealthy
Roanoke County’s main street — Electric Road (state Route 419) — is getting a big boost from the region’s largest employer. Carilion Clinic announced in September it had leased 150,000 square feet at Tanglewood Mall to accommodate Carilion’s growing children’s outpatient practices. Carilion, the Roanoke nonprofit tha[...]
Eggs in several baskets
Southern Virginia ended 2019 with some of the largest investments the region has seen in recent years and strong economic momentum — a far cry from 15 to 20 years ago when the area experienced downfalls in employment and capital investment after the textiles industry moved operations outside the country. Last July, the positiv[...]
Moving beyond coal
In 1923, the number of people earning a living mining coal in the United States peaked at 862,536. Now, that number is around 52,000, and many people and companies who relied on coal for income have fallen on hard times. That’s one reason the 2019 expansions of Paul’s Fan Co., which has been tied to […]
You can Google it
If it’s not one tech giant, it’s another. Ever since Amazon.com Inc. announced in late 2018 that it would open a second headquarters in Arlington County, discussions about workforce and real estate in Northern Virginia have fixed on the e-tailer. But Google LLC’s been busy, too. Last year the Mountain View, California-ba[...]
Port of call
Hampton Roads’ deep-water port continued to be a dominant factor in attracting companies to the region in 2019, especially cold storage and warehousing and logistics firms. “As we try to bring industry into this area, the port is a significant driver of our economic development,” says Doug Smith, president and CEO of the H[...]
The Hail Mary
Football isn’t the only occupation in which a wild, slim-chance pass can deliver a win. Last fall, the Virginia Economic Development Partnership and Danville and Pittsylvania County officials launched a Hail Mary economic pitch that landed a $57.89 million expansion project from Michigan-based van manufacturer Morgan Olson LLC[...]
Subsea cable country
The scheduled 2020 arrival in Henrico County of a third connection to ultra-high-speed internet subsea cables should give the Richmond region bragging rights as a destination for data centers. In other words, it makes Central Virginia an alternative to Loudoun County, where 70% of all internet traffic flows but lacks a direct li[...]
