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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[...]
For The Record August 2024
CENTRAL VIRGINIA Tobacco giant Altria Group, headquartered in Henrico County, will be allowed to market four different menthol-flavored e-cigarettes, the U.S. Food and Drug Administration said June 21. The announcement came two months after the Biden administration controversially delayed a decision on banning menthol cigarette sales. Marketed under Altria’s NJOY brand, the products are the […][...]
Caesars Virginia — a work in progress
Lots can change over three years and eight months. Back in September 2020, Danville, its industrial development authority and Nevada-based Caesars Entertainment signed a development agreement naming Caesars the city’s preferred gaming operator and outlining the parties’ obligations. Back then, Caesars budgeted $400 million t[...]
Speyside Bourbon Cooperage to create 40 jobs in Pittsylvania
Speyside Bourbon Cooperage will invest $16.85 million to build a new stave mill in Pittsylvania County’s Brosville Industrial Park, Gov. Glenn Youngkin announced last week. A U.S. subsidiary of a French company, Speyside Bourbon Cooperage produces staves, or strips of wood, from American White Oak, which are used to make the company’s bourbon barrels. Pittsylvania […]
Hitachi Energy plans $26M expansion in Halifax County
Hitachi Energy plans to invest $26 million into expanding its South Boston facility, that manufactures transformers, a move expected to create about 100 jobs, according to a news release the company shared with a few stakeholders in the Southern Virginia region in June. In April, Hitachi announced plans to invest over $1.5 bil[...]
A practical plan for U.S. 220
Picture an hourglass: Flip the timer over, and the sand at the top funnels through a small opening to pool in the wider receptacle at its bottom. Now imagine if that hole in the middle were wider; sand would flow more freely. That’s how business leaders in Martinsville see the U.S. Route 220 corridor between […]
Va. casinos report $62.7M in May gaming revenues
May gaming revenues for Virginia’s three casinos totaled $62.7 million, according to Virginia Lottery data released June 14. Last month, the Bristol Casino: Future Home of Hard Rock temporary casino reported about $15.46 million in adjusted gaming revenues (wagers minus winnings), of which about $12.4 million came from its 891[...]
Retro Hospitality adds three hotels to portfolio
Richmond-based boutique hotel advisory and management firm Retro Hospitality has added three Virginia hotels to its portfolio, the firm announced Wednesday. The company now operates The Bee and The Holbrook Hotel in Danville and The Lofts at Downtown Salem in Salem. Other hotels in its portfolio include the Blackburn Inn and Con[...]
Lester Group acquires Williamsburg building supply company
The Lester Group, a Martinsville-based company with a diverse portfolio including lumber products and real estate development, acquired Williamsburg-based Custom Builder Supply on June 3, the company announced earlier in June. Lester Group CEO Jay Dickens declined to release financial terms of the deal. Randy Cooper founded Cust[...]
