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Huge data center campus planned for Charles City County

Kansas-based development company is planning a massive data center campus in , about 20 miles outside of Richmond, that is estimated to create 50 to 100 full-time jobs.

The company has submitted an application to the county’s and board of supervisors to rezone five properties totaling about 515 acres to light for the development of the Roxbury Park campus. The site, which is about three-fifths the size of New York’s Central Park, is bordered by Charles City, CC and Roxbury roads.

A project representative said that the cost of the project is still to be determined and that an end user hasn’t been selected yet.

The application says noteworthy businesses and industrial facilities near the project include the Chaney Enterprises Concrete Plant, Tire Recycling Solutions, Davis Autosports, Charles City Timber and Mat, Bruce Howard Contracting and the Dominion Energy Chickahominy Substation.

Charles City County Director of Community Development Gary Mitchell said the county’s planning commission will hold a public hearing and vote on the rezoning application on April 10, with the Charles City County Board of Supervisors likely to take up the matter in May.

County staff recommended that the planning commission approve the project as long as some of the proffers were voluntarily adjusted. The staff report described digital commerce as “the next industrial revolution,” saying it was “vitally important” that the county be included in the new digital .

“This industry offers highly paid and skilled employment for the residents of Charles City County,” the report says. “It also offers the opportunity to attract more traditional commercial projects. The center does not negatively impact schools, fire and rescue, public safety, parks and recreation. In fact, it boosts the ability of these organizations to effectively and efficiently respond to county residents and businesses.”

Proffers listed in the project prohibit the use of the site for purposes such as intensive agriculture, automobile graveyards, junkyards and mining. They also establish building setbacks from boundary lines, groundwater uses and ways to mitigate noise.

County staff gave various recommendations for how to improve the proffers, including amending the hours of construction on Sundays and establishing a maximum sound (decibel) level at the property line.

If the board grants approval, Diode says it will work with local utilities and permitting agencies before proceeding with site plan approval and building permits. The company notes the project is in the “early stages of development.” According to the application, Diode estimates that design and engineering will take eight to 12 months, construction permitting approval will take four to six months and construction will take seven to 10 or more years.

In its application, the company argues tax revenue generated from the project can help expand county resources and “stimulate business and industry growth.” The project is expected to generate between 800 to 1,200 construction jobs during peak construction, according to Diode’s website. The website also says that the project will create between 50 to 100 full-time permanent jobs once operational.

Diode describes Charles City County as “an ideal location for a data center” due to land availability, overhead transmission lines, proximity to fiber networks and available workforce.

Diode says it is working with a local traffic engineer and the Virginia Department of Transportation to study traffic impact but expects minimal traffic impacts once the are operational.

Founded in 2017, Diode Ventures is headquartered in Overland Park, Kansas. It develops infrastructure for commercial, industrial and technology sectors, specializing in clean energy and data centers. Its parent company is global engineering and construction company Black & Veatch.

Google to buy cybersecurity firm Wiz for $32B in largest deal in company’s history

SAN FRANCISCO (AP) — Google has struck a to buy firm Wiz for $32 billion in what would be the giant’s biggest-ever acquisition at the same time it’s facing a potential breakup of its internet empire.

The proposed takeover announced Tuesday is part of Google’s aggressive expansion into during an artificial intelligence boom. The frenzy is driving demand for that provide the computing power for and intensifying the competition in that space among Google and two other tech powerhouses, Microsoft and Amazon.

If the all-cash transaction is approved by regulators, Wiz will join Google Cloud — an increasingly important part of its business separate from the search and advertising operations that account for most of the $350 billion annual revenue at Google’s parent company, .

With the advent of AI, however, the cloud division has become a rising star at Google. Annual revenue in the division was $26.3 billion in 2022, and soared 64% to $43.2 billion last year.

Wiz, a five-year-old startup founded by four longtime friends who met in the Israeli army when they were still teenagers, is on track for an estimated $1 billion in revenue this year. After getting its start in Israel in 2020, Wiz now oversees an operation that makes security tools protecting the information stored in data centers from its current headquarters in New York.

“Wiz and Google Cloud are both fueled by the belief that cloud security needs to be easier, more accessible, more intelligent, and democratized, so more organizations can adopt and use cloud and AI securely,” Wiz CEO Assaf Rappaport wrote in a blog post.

In a Tuesday conference call, Google CEO Sundar Pichai predicted Cloud division’s addition of Wiz will result in even better security at a lower cost than can be provided now. That prediction may have been aimed as much at regulators likely to scrutinize how the deal will affect competition and pricing, as much as at prospective customers.

Google had been courting Wiz for some time before finally settling on a price that’s much richer than a reported $23 billion bid that was rejected last July. At that time, Wiz signaled it would instead pivot back to a previously-planned initial public offering. But recent volatility in the has chilled the IPO market, and now Rappaport said Wiz expects to “innovate even faster” by becoming a part of Google.

Wedbush analysts called Google’s move to buy Wiz “a shot across the bow” at other tech giants, particularly Microsoft and Amazon, who have already made big bets on cyber security as the fight to dominate cloud computing intensifies. Google had fallen behind its competition in the cloud space, Wedbush said, but the acquisition of Wiz could alter the parameters.

The bid Tuesday easily eclipses the current largest acquisition in Google’s 26-year history — a $12.5 billion takeover of Motorola Mobility in 2012 that didn’t pay off the way that the Mountain View, California, company had hoped. The $32 billion purchase of Wiz would also go down as the biggest-ever cybersecurity acquisition and rank among the 20 most expensive takeovers of a software company in history, according to Mergermarket, a financial intelligence service.

As often happens with high-priced acquisitions, investors reacted coolly to Tuesday’s news. Alphabet’s shares declined 2% to close at $160.67.

Some of Google’s other acquisitions have turned into gold mines, most notably its $1.76 billion purchase of video pioneer YouTube in 2006 and its $3.1 billion takeover of advertising technology platform DoubleClick in 2008. A $5.4 billion purchase of another security firm, Mandiant, in 2022 also helped fuel the recent growth of Google’s Cloud division, which posted an operating profit of $6.1 billion last year.

Google’s DoubleClick deal is now part of an antitrust case filed by the U.S. Justice Department targeting Google’s technology for distributing ads across the internet. A ruling in that case, involving allegations that Google illegally abused its power to manipulate digital ad prices, is expected this year.

Regulators in the U.S. and abroad are targeting Google on other fronts, too.

Last year, a federal judge in another case brought by the Justice Department last year concluded Google had turned its ubiquitous search engine into an illegal monopoly. The penalization phase of that trial begins next month.

The Justice Department is seeking a rebuke that would include a requirement for Google to sell its Chrome web browser and would ban the company from making agreements with Apple and other companies to make its search engine the default tool for finding online information on the iPhone and other devices.

The Wiz deal will also get a close look from antitrust regulators. While many expect the Trump administration to welcome more dealmaking than occurred during the previous years, it has also expressed leeriness about Big Tech getting any bigger. Andrew Ferguson, the Trump administration’s Federal Trade Commission Chairman, has been particularly outspoken about his resolve to keep Big Tech on a short leash.

The deal raises antitrust concerns due to the potential impact on standalone cyber security vendors, as well as potential disruption for bigger rivals. Still, Wedbush’s analysts note the industry is “ripe for consolidation” — which could pose “massive growth opportunities on the horizon heading into this AI Revolution.”

Antitrust worries were also believed among the reasons Wiz called off sales talks with Google last year while President Joe Biden’s administration was seeking to block a variety of tech deals. Agreeing to a sale now indicates both Google and Wiz are more confident the deal will gain U.S. approval under the Trump administration, Mergermarket analysts Kevin Ketcham and Kevin McCaffrey wrote in a Tuesday note.

“The two sides likely wouldn’t have struck the deal if they didn’t at least see a potential path to closing,” Ketcham and McCaffrey wrote.

But the business watchdog group Demand Progress Education Fund urged the Trump administration to block Google’s takeover attempt. “It’s time to show the public whether they have the guts to step in and stop a big fish from being gobbled up by one of the biggest fishes in the pond,” said Emily Peterson-Cassin, the group’s director of corporate power.

If they get the regulatory greenlight and meet several conditions spelled out in their agreement, Google and Wiz expect the deal to close in 2026.

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Grantham-Philips reported from New York.

Furniture manufacturer shuts down Canadian operations, moves production to N.Carolina

DELTA, British Columbia — Canadian ready-to-assemble supplier Prepac has reportedly shut down its manufacturing operations in Delta, British Columbia, shifting all production to its facility in instead.

According to Unifor, the union that represents Prepac’s workers, are to blame. More than 170 workers will be laid off.

“Our union has been warning about lost investment and production since Trump began his economic war on and Canadian workers,” said Unifor National President Lana Payne. “In this case, Prepac and its equity owners are using the tariffs as an excuse to redirect all their production to the U.S. It’s pure greed.”

Prepac has not confirmed that the closure and production shift were done as a response to tariffs or the , nor as it returned a request for comment to Furniture Today. Company CEO Nick Bozikis told publications The Daily Hive and Business Intelligence for B.C. that the decision “was the product of many months of consideration and analysis, and began long before any tariff risks to Prepac’s business arose.”

He said that the past several years have been challenging for many North American furniture manufacturers, that the Delta closure “is a necessary step that reflects the realities of Prepac today,” and that the company’s North Carolina facility is located closer to its largest customer base.

Prepac was founded in Canada 45 years ago and locally owned until it was acquired by Canadian private equity firm TorQuest in 2019. The company invested $27 million to build its 260,000-square-foot facility in Whitsett, N.C., in 2021, a move that added 200 jobs.

Unifor says it’s calling for a boycott of Prepac products.

“It’s a slap in the face to Canadian workers and Canadian consumers who have made this company a success since 1979,” said Unifor Western Regional Director Gavin McGarrigle. “It’s another example of equity firms stripping companies for profit with no regard for jobs, community or, frankly, decency.”

Kaufman & Canoles names executive director

Chris Smythe has been named director of , the -headquartered firm announced Monday.

In the role, Smythe will oversee the day-to-day operations of the firm and report directly to Jason R. Davis, its president and CEO.

Previously, Smythe was president of Tycon Medical Systems, a Norfolk home medical equipment and complex rehab supplier, according to his LinkedIn page. He joined that company in 2009. Smythe also worked as vice president of content at TotalVid.com, an aggregator and on-demand distributor of instructional video content, and as new ventures director for what was then .

After earning a law degree from the University of Virginia, Smythe clerked for Judge John A. MacKenzie in the U.S. District Court for the Eastern District of Virginia and later practiced law at Parker Poe in Charlotte, . In 2001, Smythe earned an MBA from U.Va.

“Chris has strong skills in all aspects of running a business, and as a former attorney has an understanding of lawyers and the environment,” Davis said in a statement.

Created by the merger of two law firms in 1982, Kaufman & Canoles has offices in Chesapeake, , Norfolk, Richmond, Tysons, Virginia Beach and Williamsburg, and in Raleigh, North Carolina.

HII division awarded $182M Air Force contract

Huntington Ingalls Industries’ -based division was awarded a five-year, $182 million task order to provide support for U.S. F-16 devices, announced Thursday.

The contract involves HII and subcontractor Trident Military Systems performing engineering maintenance for the Air Force’s Mission Tactics Trainer Training System Support Center, which supports and sustains F-16 aircraft simulator systems used by the U.S. Air National Guard, U.S. Air Force Reserve Command and the U.S. Navy.

Michael Lempke, president of Mission Technologies’ global security group, said in a statement it is “essential” that U.S. Air Force operators have world-class training devices in order to be combat-ready, calling them a “critical component” of national security.

“We look forward to applying our proven experience in aviation training, combined with Trident Military Systems’ simulation and training services expertise, to enhance mission effectiveness and pilot safety, and support distributed mission operations,” Lempke said in a statement.

According to a news release from HII, work will be performed primarily in Mesa, Arizona, and will complement HII’s existing contracts.

“We are pleased to add the Air National Guard F-16 MTT contract to HII’s ever-growing portfolio of U.S. Air Force aviation training programs,” John Scorsone, Mission Technologies’ director for modeling training and simulation, said in a statement.

-based HII is the nation’s largest military shipbuilder and the largest employer in Virginia. The Fortune 500 company employs about 44,000 workers. The Mission Technologies division has more than 7,000 employees and more than 100 facilities globally.

Stock market today: Wall Street holds steadier following weeks of scary swings

NEW YORK (AP) — U.S. stocks are holding steadier Monday, and the ‘s scary roller-coaster ride from recent weeks is slowing. The calm trading may be short-lived, though, with a decision by the Federal Reserve on interest rates coming later in the week and worries continuing about President Donald Trump’s .

The S&P 500 was 0.2% higher in morning trading, coming off its fourth straight losing week. The Dow Jones Average was up 144 points, or 0.3%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.3% lower.

Stocks have been tumbling recently on worries that Trump’s rat -a- tat announcements on and other policies are creating so much uncertainty that they’ll push U.S. households and businesses to freeze their spending, which would hurt the . Surveys have shown sharp drops in confidence, and some companies are already warning about changes in behavior from their customers.

A report on Monday said U.S. retailers broadly saw weaker revenue last month than economists expected, but it may not have been quite as bad as it seemed on the surface.

Much of the shortfall in growth versus expectations was due to weaker-than-forecast sales of automobiles and lower fuel costs. Outside of them, the performance was closer to expectations.

Treasury yields initially rose immediately following the report’s release. That’s often an indication of firming confidence among bond investors about the strength of the U.S. economy. But yields quickly yo-yoed afterward.

“In our view, this morning’s February sales report offers evidence of a limited, modest economic slowdown, rather than signaling a gathering recession,” said Jennifer Timmerman, investment strategy analyst at Wells Fargo Investment Institute.

It’s a sharp turnaround for investors to talk about a possible recession after the U.S. economy closed last year running at a solid rate and investors were so excited about policies coming from Trump to accelerate it. To be sure, hiring still remains relatively healthy, and that could help keep the economy growing if it can continue. But the talk about recession by itself could sap confidence.

That’s the precarious stage onto which Federal Reserve Chair Jerome Powell will step Wednesday, when he announces the Fed’s latest decision on interest rates.

Virtually no one expects the Fed to make a move Wednesday. The central bank has been keeping rates steady so far this year, preferring to see how conditions play out. Earlier, heading into the end of last year, it had been cutting rates sharply in hopes of relaxing pressure on the U.S. economy after high inflation had slowed.

Wall Street’s focus will be on what Powell says about the rest of the year. Expectations are still high the Fed may cut its main interest rate at least two or three times in 2025. The risk of cutting interest rates too quickly or aggressively is that it could push up inflation. But keeping rates too high for too long could also create unnecessary pain for the economy by slowing borrowing and overall activity.

On Wall Street, Intel climbed 7.9% to extend its gains after the chip company named former board member and semiconductor industry veteran Lip-Bu Tan as its CEO.

PepsiCo added 2% after saying it agreed to buy Poppi, a prebiotic soda brand, for a net $1.65 billion.

They helped offset a 5.2% drop for Tesla. The electric-vehicle company’s stock has been struggling this year amid worries that its brand has become too intertwined with Elon Musk, who has been leading efforts to cut spending by the U.S. government. Tesla vehicles and dealerships have become targets of people unhappy with Trump and his policies.

In the bond market, Treasury yields were mixed. The yield on the 10-year Treasury went from 4.28% shortly before the release of the retail sales report to nearly 4.33% immediately afterward. It then pulled back to 4.28%, down from its 4.31% level late Friday.

In stock markets abroad, indexes rose across much of Europe and Asia.

Chinese markets rose after the government reported stronger than expected factory data. Later Monday, officials briefed reporters about Beijing’s efforts to get consumers to spend more, seen as key to getting the economy out of its doldrums.
Stocks rose 0.8% in Hong Kong and 0.2% in Shanghai.
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AP Business Writers Matt Ott and Elaine Kurtenbach contributed to this report.

Forever No More. Operator of mall staple Forever 21 files for bankruptcy protection

Forever 21 has filed for protection for a second time and plans to close down its U.S. business as traffic in U.S. shopping fades and competition from retailers like Amazon, Temu and Shein intensifies.

F21 OpCo, which runs stores, said late Sunday that it will wind down the business in the U.S. under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets.

Forever 21 has filed for bankruptcy protection for a second time and plans to close down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies.

F21 OpCo, which runs Forever 21 stores, said late Sunday that it will wind down the business in the U.S. under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets.

“While we have evaluated all options to best position the company for the future, we have been unable to find a sustainable path forward, given competition from foreign fast fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin,” Chief Financial Officer Brad Sell said in a statement.

The de minimis tax exemption lets shipments headed to U.S. businesses and consumers valued at less than $800 to enter the country tax free and duty free.

Forever 21 stores in the U.S. will hold liquidation sales and the website will continue to run while operations wind down. The retailer’s locations outside of the U.S. are run by other licensees and are not included in the bankruptcy filing. International store locations and websites will continue operating as normal.

Authentic Brands Group owns the international intellectual property associated with the Forever 21 brand and may license the brand to other operators, F21OpCo said.

Jarrod Weber, Global President, Lifestyle at Authentic Brands Group, said the restructuring lets Forever 21 “accelerate the modernization of the brand’s distribution model, setting it up to compete and lead in fast fashion for decades to come. We’re building a direct creation-to-shelf model that moves faster.”

He added that, “We are receiving lots of interest from strong brand operators and digital experts who share our vision and are ready to take the brand to the next level.”

Forever 21 first filed for bankruptcy protection in 2019. The following year, it was acquired by a consortium of parties including Authentic Brands Group and owners Simon Property Group and Brookfield Property Partners. In early January, Forever 21’s parent company, Sparc Group, merged with JCPenney to form Catalyst Brands, a new entity that also includes brands like Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica.

In 2023, Forever 21 teamed up with Chinese e-commerce player Shein. The partnership allowed Shein to carry Forever 21’s items on its platform. It also offered the opportunity to return Shein online orders at a couple hundred physical Forever 21 stores across the U.S.

Forever 21 joins a slew of other retailers that have filed for Chapter 11 or are liquidating in recent months as retailers face a slowdown in consumer spending and are navigating rising operating costs amid inflationary pressures. They include fabric and crafts retailer Joann Inc and Party City. In February, Outdoor apparel seller Liberated Brands, which has operated stores for surfer and skater-inspired labels like Quiksilver, Billabong and Volcom, filed for bankruptcy — and said it plans to shutter its locations across the U.S.

From Jan. 1 through March 14, U.S. retailers have so far announced 3,735 store closures, according to Coresight Research’s weekly tracker.

Forever 21 had been battling a host of macroeconomic challenges as well as its own issues.

Forever 21 was founded in 1984 and, along with other fast-fashion chains like H&M and Zara, rode a wave of popularity among young customers in the mid-1990s. Their popularity grew during the Great Recession, when shoppers were seeking bargains. But Forever 21 went on an aggressive expansion just as shoppers were moving more online. Critics have said that Forever 21 was too slow to embraice online shopping.

The company also faced stiff competition from the likes of Shein and Temu, which churn out trendy items that are cheaper than what Forever 21 offers. For example, Forever 21 sells T-shirts for around $10. Temu has them for $5.

Neil Saunders, managing director of GlobalData, said in a statement that part of the problem now is that Forever 21’s stores are too big for its current needs and it’s in malls with not enough foot traffic.

“Forever 21 was always a retailer living on borrowed time. Over recent years it has been hit with dual headwinds from a weak apparel and stiff competition from cheap Chinese marketplaces,” he said. “Both things have eroded its standing and depleted its market share.”

Hourigan – Mark Hourigan Jr.

Director of Advanced Manufacturing & Logistics As the demand for advanced manufacturing and reshoring production accelerates, Mark Hourigan Jr. is leading Hourigan’s efforts to support the industry’s evolving needs. In his role as Director of Advanced Manufacturing & Logistics, Mark oversees the firm’s strategy and execution for cutting-edge manufacturing and logistics facilities. With Hourigan’s expertise spanning Food & Beverage, Paper & Wood Product Processing, Plastics, Building Products, and Precision Equipment manufacturing, Mark is focused on delivering high-quality, sustainable, and scalable solutions that meet production demand.

Under his leadership, Hourigan has delivered over 2 million square feet of industrial space, with another 2.5 million square feet planned in the next two years. “Our clients need partners who understand the intricacies of their business and can collaborate with process engineers to design and build purpose-driven facilities,” says Mark. “At Hourigan, we bring technical sophistication, operational efficiency, and deep industry expertise to every project.”

With an integrated approach combining construction, development, and technology-driven solutions, Mark and his team are shaping the next generation of industrial infrastructure to support economic growth and innovation in Virginia and beyond.
https://www.linkedin.com/in/mhouriganjr/

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Hourigan – Mark Rainey

Director of Mission Critical & Data Centers Virginia leads the nation in data center development, and Mark Rainey is at the forefront of ensuring Hourigan remains a key player in this rapidly growing sector. As Director of Mission Critical & Data Centers, Mark brings a decade of experience in delivering high-performance, resilient digital infrastructure across the Mid-Atlantic.

With expertise in hyperscale, colocation, and federal data centers, Mark is focused on scalable, secure solutions that support the growing demand for digital infrastructure—especially as AI and cloud computing continue to expand. “The need for mission-critical, high-efficiency facilities has never been greater,” Mark explains. “We’re committed to delivering best-in-class solutions that meet the speed, security, and reliability required by today’s leading technology providers.”

Hourigan’s track record includes delivering complex Department of Defense and private-sector data center projects, positioning the firm as a trusted partner for industry leaders. With Mark’s leadership, Hourigan is expanding its reach in mission-critical infrastructure, ensuring clients stay ahead in a digital-first world.
https://www.linkedin.com/in/mark-rainey-9132bb6a/

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InterChange announces several leadership changes

InterChange Group Chief Strategy Officer Keith VanBenschoten (Photo courtesy InterChange Group)
Chief Strategy Officer Keith VanBenschoten (Photo courtesy InterChange Group)

-based developer and company InterChange Group announced several major changes to its leadership.

Effective March 10, Keith VanBenschoten assumed the role of chief strategy officer, and Cliff Alt was promoted to . The company also announced that Timothy Cognata had been appointed .

A company spokesperson said the director of sales and chief strategy officer positions are new. The previous COO was VanBenschoten, who the spokesperson said moved to a more strategic position versus a day-to-day operations role.

InterChange said the leadership changes came in response to “evolving demands” and the desire for the company to position itself better to capture new customers while better serving existing clients.

“We are thrilled to have Cliff, Keith, and Tim in these critical roles as we continue to strengthen our leadership team,” said InterChange CEO Devon Anders in a statement. “Their collective experience and leadership will help propel InterChange forward as we optimize operations, expand our services, and maintain our commitment to delivering outstanding value to our customers.”

InterChange Group Chief Operating Officer Cliff Alt (Photo courtesy InterChange Group)
InterChange Group Chief Operating Officer Cliff Alt (Photo courtesy InterChange Group)

VanBenschoten has been with the company for more than 24 years, having previously worked as a senior leader and company ambassador. In his new role, VanBenschoten will focus on driving strategic initiatives, mentoring team members and taking a leadership role in short-term operational projects. He will also advocate for the company in industry and community forums.

Alt joined InterChange in 2019 as its cold storage manager. According to his LinkedIn profile, he was a plant manager for George’s before joining the company. InterChange describes Alt’s leadership as “instrumental” in modernizing operations. Last year, he assumed the director of operations role, where he led the team through organizational growth.

InterChange says his promotion to COO will enable the company to meet the needs of more complex customer opportunities. Alt holds a bachelor’s degree in business administration from West Virginia University.

Cognata has more than 30 years of experience in business development and sales leadership. According to his LinkedIn account, he was DHL’s director of business development for over 12 years and served in numerous sales roles at Craft Brew Alliance.

In his new role, Cognata will be responsible for driving InterChange’s sales strategy and expanding its customer base.

InterChange is a full-service warehousing, cold storage and logistics company serving the East Coast. The company is headquartered in Mount Crawford but has terminal locations in and . A company spokesperson said that InterChange has about 400 employees.