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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 […]
$1 billion data center campus moves forward in Pittsylvania
With more than 70% of global internet traffic flowing through Virginia data centers — mostly in Loudoun County — the commonwealth is the world’s undisputed data center capital. And Tom Gallagher’s development group wants Pittsylvania County to claim a stake in that action. Gallagher represents Anchorstone Advisors SOVA, [...]
Pittsylvania tapped as home for $1.5M+ training center
TECHnista, an education consulting company that develops curriculum for K-12 programs in defense and advanced manufacturing industries, will invest about $1.56 million to establish a National Training and Technology Center in Pittsylvania County, Gov. Glenn Youngkin announced Friday. The project, which is expected to create 15 jobs, will assist in the implementation of a five-year […]
Summit for entrepreneurs planned for Danville
Two South Boston-based economic development organizations will host a summit for entrepreneurs and business leaders Oct. 19 at the Institute for Advanced Learning and Research in Danville. Launched by the SOVA Innovation Hub, a nonprofit working to drive economic transformation with digital skills and entrepreneurship, and RISE [...]
Boar’s Head to indefinitely shutter Va. facility tied to fatal listeria outbreak
Deli meat company Boar’s Head Provisions Co. is indefinitely shutting down its meat production facility in Jarratt, the source of a listeria outbreak that killed at least nine people and hospitalized 57 others. The plant has not been operating since late July. The Centers for Disease Control and Prevention opened an investigat[...]
Hooker CEO talks layoffs, other takeaways from Q2 earnings report
This story is republished with permission from Furniture Today. Martinsville-based Hooker Furnishings reported $95.1 million in consolidated net sales for the second quarter last week, a 2.8% drop from last year. It marked the second consecutive quarterly loss for the company, at $3.1 million. Other than the usual sales figures,[...]
Danville whitewater channel plans float forward
Future Olympian kayakers may one day practice their playboating in the Dan River while tourists marvel from shore. In the Virginia budget approved in May, lawmakers included $3 million for the City of Danville to develop the White Mill Whitewater Channel, which is being designed to lure both recreational paddlers and water rescu[...]
Martinsville industrial property sells for $2.35M
An entity connected to Time Equities, a New York diversified investment, development, asset and property management and alternative energy company, purchased a 99,500-square-foot industrial building in Martinsville currently leased by Atlas Molded Products on Aug. 14 for $2.35 million, according to real estate records and a Cush[...]
Hand-built electric classic sports cars to be built in Danville
RBW Sports & Classics, a United Kingdom manufacturer of hand-built electric vehicles that have designs inspired by British sports cars from the 1960s and 1970s, plans to invest $8 million to establish a manufacturing facility at Cane Creek Centre in Danville, Gov. Glenn Youngkin announced Thursday. The project is expected [...]
Va. casino gaming revenues total $59.3M in July
Casino gaming revenues for Virginia’s three casinos totaled $59.3 million in July, according to Virginia Lottery data released Thursday. Also, the $500 million HeadWaters Resort & Casino in Norfolk, which has been in a holding pattern for the past several months, could be moving forward. The Norfolk Architectural Review Bo[...]
Launch pads
In the 2000s, economic development leaders in Southern Virginia strategized a path for building back a regional economy decimated by lost textiles jobs. These visionaries, according to Linda Green, executive director for the Southern Virginia Regional Alliance, decided to invest in industrial parks and other locations readied fo[...]
Big deals
These economic development announcements were some of the largest in Virginia for 2023 and the first half of 2024: CENTRAL VIRGINIA Chesterfield County: In April, the offices of U.S. Sens. Tim Kaine and Mark Warner and U.S. Rep. Jennifer McClellan announced that Danish electrolyzer manufacturer Topsoe plans to build a $400 milli[...]
