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Building momentum
From olive oil to space rockets, 2022 saw a variety of companies seeking to invest — or reinvest — in the Hampton Roads region and Eastern Virginia. That kind of diversity of industries augurs well for the region’s economy, says Vinod Agarwal, professor of economics at Old Dominion University’s Strome College of Business[...]
Here to stay
Composite decking and railing manufacturer Trex Company Inc. has called the Winchester community home for more than 25 years, so when it came time for the company to construct a new global headquarters, Winchester was top of mind. “Trex was already based in the area, so they were familiar with the city and approached us [&hell[...]
Playing defense
What’s in a name? Perhaps a lot if you’re riding on the coattails of Boeing Co. and Raytheon Technologies Corp. The May and June 2022 announcements that Fortune 100 contractors Boeing and Raytheon would move their corporate headquarters to Arlington County generated plenty of buzz, but they didn’t dazzle like the 2018 anno[...]
Filling in
Industrial real estate is a hot commodity in Southwest Virginia. “It’s hard to find available space of anything that’s above 15,000 to 20,000 square feet,” says Jonathan Belcher, executive director of the Virginia Coalfield Economic Development Authority (VCEDA), which represents Lee, Wise, Scott, Buchanan, Russell, Taze[...]
A titanic win
After enduring the exodus of companies like Burlington Mills and Daystrom Furniture over the past two decades, Halifax County is celebrating its biggest manufacturing announcement in decades — the arrival of Virginia’s first titanium demonstration facility. Last fall, Charlotte, North Carolina-based IperionX Ltd., a minerals[...]
DroneUp takes off
Virginia Beach’s DroneUp LLC is riding the leading edge of the unmanned aerial vehicle industry wave. Founded in 2016, the company, which specializes in commercial drone delivery, flight services and software, has grown its ranks from three to 530 employees. Retail giant Walmart Inc. is a new partner, and DroneUp is close to c[...]
A time to build
The Shenandoah Valley Partnership had more economic development activity than “anyone anticipated in 2022,” says Jay Langston, the partnership’s executive director. During the calendar year, the partnership saw close to $140 million in investment and 520 jobs. In Fishersville, Amazon.com Inc. is building a $120 million, [...]
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[...]
Sweet valley high
For Paul Mahoney, chair of the Roanoke County Board of Supervisors, the past year has stood out for bringing an “explosion of development” to the county. Home improvement retailer Lowe’s Cos. Inc. opened a new distribution center. North American Specialty Laminations LLC established a mid-Atlantic production facility. And [...]
Moving in
Southern Virginia is laying out the welcome mat for a growing number of companies seeking to locate in areas with lower taxes, better proximity to supply chains, a skilled workforce and improved quality of life. During 2022, a variety of businesses, ranging from an automotive education and entertainment firm to a moving and tr[...]
Defense and defensibility
When it comes to tech and government contractors, Northern Virginia’s national profile continued to rise in 2022. Arlington County, where Amazon.com Inc.’s multibillion-dollar HQ2 is continuing to take shape in National Landing, made headlines around the globe in spring 2022. Fortune 500 companies Boeing Co. and Raytheon Tec[...]
Va. Tech names new biz school dean
Saonee Sarker, a professor at Sweden’s Lund University, will serve as the next dean of the Virginia Tech’s Pamplin College of Business following an international search. Virginia Tech announced Sarker’s new role Monday. She has been a professor in Lund University’s Department of Informatics in the Schoo[...]
