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J.B. Hunt to acquire Bassett Furniture subsidiary for $87M
A subsidiary of Lowell, Arkansas-based transportation company J.B. Hunt Transport Services Inc. has entered into a definitive agreement to acquire a subsidiary of Bassett-based home furniture manufacturer and marketer Bassett Furniture Industries Inc. for $87 million, the companies announced Monday. J.B. Hunt Transport Services�[...]
Averett students take flight at Danville airport
Times are changing at Danville Regional Airport. Averett University became the airport’s fixed-base operator in July 2021, replacing General Aviation Inc., a family-owned business which served as the FBO for more than 70 years. The city of Danville owns the airport and its fueling facility. The city’s chosen FBO pays the cit[...]
U-Haul to build self-storage facility in Danville
U-Haul Moving & Storage of Riverview will build a 100,000-square-foot, multistory self-storage unit on nine acres in Danville, the company announced Friday. The facility, which will contain at least 700 indoor storage units, will be built northwest of Riverview Drive and east of Park Avenue. “We’re in expansion mode,” said U-Haul Co. of Southern Virginia […]
Va. housing market broke records in 2021
Last year Virginia’s housing market was one for the record books, according to a new report released Jan. 21 by Virginia Realtors. In 2021, there were 154,340 home sales statewide, a 10.2% increase over 2020, according to the industry association. The median sales price was $350,000, a $30,000 jump, or 9.4% increase, from the previous […]
State awards $7M in grants to help with site readiness
Eleven commercial projects across the commonwealth will get a boost to help with site readiness, Gov. Ralph Northam announced Thursday. The Virginia Business Ready Site program, administered by the Virginia Economic Development Partnership, awarded $7 million in development grants. Having project-ready sites available has been a[...]
Danville center launches companies faster
British aerospace and defense components manufacturer MEP Ltd. isn’t moving into its U.S. facility for another few years, but that isn’t stopping the company from getting its operation off the ground in Danville sooner. In August 2021, MEP (which will operate in the U.S. as Making Everything Possible LLC) moved into a space [...]
Va. invests $722M in broadband expansion
Virginia Gov. Ralph Northam this week announced a state investment of $722 million in grants toward expanding high-speed internet service in 70 localities across the commonwealth. The governor says the funding will help Virginia achieve 90% of its universal broadband access goal by 2024. “Broadband access impacts every facet o[...]
Two Va. projects are finalists for $100M U.S. EDA grants
Two Virginia projects — one to make Central Virginia an advanced pharmaceutical manufacturing hub and one to support the transportation and logistics cluster in Southern and Southwest Virginia — are two of 60 finalists for the U.S. Economic Development Administration’s Build Back Better Regional Challenge, which will provide awardees with up to $100 million each. […]
UK race car maker taps into Martinsville talent
College students in Martinsville can get on the fast track to careers with British race car manufacturer Radical Sportscars. In May, the Peterborough, England-based company opened its first U.S.-based sales office at Patrick & Henry Community College’s Manufacturing and Engineering Technology Complex, close to the school�[...]
New IDA director is no stranger
When Kristy Johnson moved to Halifax County from Georgia in 2008, the community welcomed her family with open arms, she says. Now she has the opportunity to return the favor as the new executive director of the county’s Industrial Development Authority. Johnson’s no stranger to the organization. She’s worked for the IDA si[...]
VF Corp. to create 82 jobs in Henry County
Denver-based apparel and footwear company VF Corp. will create 82 jobs with a $10.2 million expansion within Henry County, Gov. Ralph Northam announced Thursday. The company will make upgrades within its 500,000-square-foot facility in Martinsville to increase distribution capacity and speed. “VF Corp. has thrived in Henry Cou[...]
Virginia wins $5M DOD grant to train shipbuilding workers
Virginia won a $5 million U.S. Department of Defense grant to train workers in defense manufacturing industries, particularly shipbuilding, in Danville and Hampton Roads, Gov. Ralph Northam announced Friday. The grant will go to the Virginia Defense Manufacturing Community, which brings together the Institute for Advanced Learning and Research in Southern Virginia and Old Dominion […]
