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Planned Wise EDA will spur downtown growth
Establishing an economic development authority might pave the way for new businesses in the town of Wise, local officials believe. EDAs can provide educational programs and mentoring to entrepreneurs, as well as buy, lease and sell property and administer grants, points out Reagan Walsh, the town’s planner and zoning administr[...]
April 2023 For The Record
CENTRAL VIRGINIA Henrico County-based Altria Group Inc. has entered into a definitive agreement to acquire e-vapor maker NJOY Holdings Inc. for approximately $2.75 billion in cash, with a potential additional $500 million in payments, Altria announced March 6. Part of the deal’s funding will come from an expected $1.7 billion payment plus interest from Philip […]
Chambers of commerce
STATEWIDE Asian American Chamber of Commerce | Tysons | (571) 633-9754 asian-americanchamber.org Virginia Asian Chamber of Commerce | Ashland | (804) 344-1540 aabac.org Virginia Chamber of Commerce | Richmond | (804) 644-1607 vachamber.com Virginia Hispanic Chamber | North Chesterfield | (804) 378-4099 vahcc.com CENTRAL VIRGINIA Altavista Area Chamber of Commerce | Altavista | (434) 369-6665 […][...]
Filling the steel gap
Metallurgical coal may be an unknown to the general population, but it’s very important to the manufacturing of steel and also valuable in the current economy. In August 2022, Australia-based Coronado Global Resources Inc., which produces metallurgical coal, announced a $169.1 million expansion of its Buchanan Mine Complex in [...]
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[...]
Emory & Henry receives $2M gift for equestrian expansion
Emory & Henry College will use a $2 million donation from The Bill Gatton Foundation to help construct a new equestrian center and boost its equine studies program. The private college, based in Emory, announced the donation Monday. The Bristol, Tennessee, foundation’s lead gift for the project was to Emory & Henry’s[...]
Spearhead Trails aims for recreational shooting boost
The Southwest Regional Recreation Authority (SRRA) will use a $750,000 federal grant to further develop its Spearhead Trails Sportsman Adventures Complex in Dickenson County. A ribbon-cutting for the 150-acre complex in Clintwood was held in August 2022, when the complex had two archery ranges, plus shooting ranges for pistols, [...]
United Way of SWVA appoints development/outreach VP
The United Way of Southwest Virginia has named Beth McConkey as its new vice president of development and outreach, the organization announced Thursday. McConkey oversees the marketing and communications and development teams. She started her role in mid-December. She brings 16 years of marketing experience to the organization a[...]
Southwest Virginia could get small modular nuclear reactor
In early October, Gov. Glenn Youngkin announced his goal of developing a small modular nuclear reactor (SMR) in Southwest Virginia within 10 years, part of a plan to make the region an epicenter of energy innovation. Not long after, Youngkin said he planned to allocate $10 million to create the Virginia Power Innovation Fund, wi[...]
SWVA child care initiative receives $1.24M grant
The New River/Mount Rogers Workforce Development Board will receive $1.24 million in grant funding for Ready SWVA, a child care initiative launched by United Way of Southwest Virginia, Gov. Glenn Youngkin announced Monday. The United Way chapter launched Ready SWVA in December 2021 to expand access to affordable child care, stre[...]
NY foundation invests $10M in Appalachian Community Capital
Appalachian Community Capital, a Christiansburg-based community development financial institution that provides capital for small businesses across the Appalachian region, will receive an additional $10 million investment in the form of a low-interest loan from the Ford Foundation, the New York-based nonprofit announced Wednesday. The Ford Foundation initially invested $3 million in ACC in 2015. ACC […][...]
$400M Bristol casino to break ground Dec. 7
Virginia’s first casino, the Hard Rock Hotel & Casino Bristol, is getting closer to moving into its permanent home. Officials will break ground at the casino’s permanent home at the former Bristol Mall, at 500 Gate City Highway in Bristol on Dec. 7, the casino announced Thursday. The $400 million permanent casino[...]
