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BAE Systems wins up to $238M Navy ship repair contract

Falls Church-based Systems Inc. has won a contract worth up to $238.8 million to maintain, modernize and repair a San Antonio-class amphibious transport dock ship.

The Department of announced the $212 million firm-fixed-price contract award, which has options that would bring its cumulative value to $238.8 million, to the U.S. arm of British defense giant on Nov. 25.

BAE Systems Inc.’s San Diego unit will work on the USS Green Bay (LPD 20) in San Diego, and work is expected to be completed by October 2026.

The USS Green Bay was commissioned in 2009 and is the second Navy ship to be named for Green Bay, Wisconsin.

BAE Systems has about 41,000 employees worldwide and reported $13.6 billion in 2023 revenue. In addition to its California shipyard, the company has one in Norfolk and one in Florida. Its Norfolk shipyard team received two Navy contracts in mid-October worth a combined $202 million for the maintenance, modernization and repair of two vessels.

2024 Virginia Business Person of the Year: Robert M. Blue

has a “no jerks policy,” which he attributes to his upbringing in Albemarle County.

“We don’t always agree. In fact, we shouldn’t agree,” he clarifies. “It doesn’t mean that we all just hold hands and sing ‘Kumbaya,’ but what it does mean is that we should treat each other respectfully.”

As ‘s chair, president and CEO, Blue, 57, sits at the top of a Fortune 500 that provides electricity to 2.7 million customers in Virginia and nearly 1 million more in the Carolinas. Dominion also has about 500,000 natural gas customers in South Carolina and operates the Millstone nuclear power plant in Connecticut, which generates power for 2 million homes.

Blue has most of the markers of success one would expect: a large corner office with a beautiful view of the James River, degrees from elite academic institutions, and close connections with powerful and important leaders.

But going back to childhood, he was part of a close-knit family with strong civic and political ideals, as well as deep roots in Albemarle, where his father, Tom, a retired land surveyor who served on the county school board and planning commission, still lives. Blue’s late mother, Jo, was a legislative assistant to Charlottesville-area Democratic state lawmakers.

His parents, Blue says, taught him to show respect to other , no matter their circumstances, a lesson he carried from his earlier career in state politics to Dominion, where he’s worked since 2005.

Blue’s Dominion is not your father’s VEPCO, though. In 2020, the Virginia General Assembly passed the Virginia Clean Economy Act, setting a 2045 deadline for Dominion to move to carbon-free energy generation — even as the demand for electricity in Virginia is expected to double over the next 15 years thanks to data centers and increasing digital demands. Under Blue’s watch, Dominion has sold off billions of dollars in natural gas assets and started building the $9.8 billion Coastal Virginia Offshore Wind farm off the coast of Virginia Beach, expanded solar energy and storage facilities, and taken early steps toward exploring the construction of small modular nuclear reactors.

In recognition of his leadership at Dominion Energy during what may well be the most pivotal moment in the utility’s history, Virginia Business has named Blue its 2024 Business Person of the Year.

An avid outdoorsman, Bob Blue is known for sometimes kayaking to his office on the James River in downtown . Photo by Caroline Martin

Head of the class

Born in 1967, Blue grew up on a small farm off Virginia State Route 20 in northeastern Albemarle County, within walking distance of his grandparents’ home.

As youths, Blue and his older brother, Tom Jr., often got pulled into helping their dad with his surveying work. “He had a very small firm — small meaning his sons would be out cutting brush for him,” Blue says. “That was a weekend or summer activity for us.”

At Albemarle High School, Blue was the 1985 class valedictorian, as well as a member of the debate team and the school’s Teen Democrats club. He stayed close to home for college, attending the University of Virginia.

Every first-year student at U.Va. has an academic adviser, and Blue’s happened to be Larry Sabato, the influential national political analyst who later founded U.Va.’s Center for Politics. 

Initially considering an engineering degree, Blue remembers visiting Sabato in his cluttered basement office in fall 1985. “So, I took him my schedule. He goes, ‘This looks boring. You need to take a government class.’ So, I did, and I enjoyed it and ended up majoring in government.”

Blue turned out to be one of Sabato’s best students. “He was just absolutely topflight. His papers were always so well-written, and you know, whatever he said in seminar was worth listening to,” Sabato recalls, thinking back to spring 1988, when Blue was in his government honors program. “I mean, he was just marked for success.”

Blue also immersed himself in real-life politics. He was a post-grad Governors Fellow for Virginia Gov. Gerald L. Baliles, and Sabato recommended Blue as one of a handful of Southern college students to ask a question of the 1988 Democratic presidential primary candidates during a debate in Houston.

Blue’s question is lost to memory, but he recalls addressing it to candidate Jesse Jackson. More memorable was the trip to Houston and a stay at the Four Seasons Hotel, an exciting moment for Blue, who met legendary CBS newsman Walter Cronkite and, more surprisingly, TV star Mr. T, who was also a guest at the hotel.

As a newly minted U.Va. graduate in 1989, Blue joined Gov. Doug Wilder’s historic gubernatorial campaign to become the nation’s first elected Black governor. U.S. Sen. Mark Warner, who had not yet run for office then, managed Wilder’s successful campaign.

“A number of young people from around the nation volunteered to come and work for me and my election, literally for nothing,” Wilder recalls. “We had very little money to pay them in terms of salary. They were very much interested in being a part of uplift and development. And Bob was one of those persons. He was very low-key in terms of style, but very effective. He undertook to engage other young people in the state. We had no directions as to how they were to do it, other than to perform it.”

Wilder has spoken with Blue from time to time over the decades, and he says his former campaign staffer is “low-key still but heavily involved with what’s best for Virginia. I’m very proud of him.”

Siren song of politics

After campaigning for Wilder, Blue in 1991 entered Yale Law School, where he met a fellow law student and his future wife, Liz Appel Blue, who he says is “absolutely” smarter than he is, as well as a “very high-energy, very optimistic person who just gets stuff done.”

Blue was editor-in-chief of the Yale Law and Policy Review in his final year of law school, and he was hired by the Washington, D.C., white-shoe firm Hogan & Hartson (now Hogan Lovells) after clerking for a federal judge in Richmond. In 1995, Warner called Blue to help him in Warner’s first run for U.S. Senate against Republican incumbent U.S. Sen. John Warner.

The battle of the Warners ended with a loss for Mark Warner, but the race was close enough to launch Warner into the state’s governorship, which he won in 2001, becoming the first Democrat to hold the office since Wilder. That’s when Warner again called on Blue, who was then close to making partner at Hogan & Hartson. Instead, Blue moved to Richmond and served as Warner’s counselor and top policy adviser during his 2002-06 gubernatorial term.

Eva Teig Hardy, who met Blue when he was working on the Wilder campaign and was state secretary of Health and Human Resources under Baliles, recalls Blue as a serious young man who “thought a lot before he said anything; very smart [and] a little bit aloof until you got to know him.”

Warner says he could count on Blue to be “very organized, and people who worked for him were loyal to him. He was never into the kind of backbiting … that can sometimes screw up an office, particularly in political campaigns or political offices. He was about doing the job.”

Although negotiating with state Republicans in the legislative majority was a big part of that job, Blue also investigated the case of Roger Coleman, a convicted killer and rapist who was executed in Virginia in 1992 but whose guilt was publicly questioned. Even the pope tried to intervene, Warner remembers. In 2006, with a couple of days left in his gubernatorial term, Warner gave the OK for Coleman’s DNA to be retested against evidence. In the end, Coleman’s DNA matched, confirming his guilt.

“This was where I think I saw Bob’s character in a real way,” Warner says. “He spent tons of time looking at this and thinking, ‘If you’re going to be willing to carry out our death sentence, it’s the obligation of the state, even after the fact, to go ahead and pursue evidence.’ No one lived the ups and downs and intellectual challenges, emotional challenges, issues more than Bob.”

A new job

In 2005, as Warner’s term was ending, Blue made the jump to Dominion, where he found himself working for his old friend and colleague, Hardy, who was Dominion’s executive vice president for state affairs and corporate public policy and wanted to retire. But her boss at the time, Dominion CEO Tom Farrell, wanted her to slow her roll.

“Tom Farrell said to me, ‘You’re not going until you get somebody in here for three years.’ He said he wanted somebody to work with me before I left for more than just a few months,” Hardy says.

With that stipulation in place, Hardy hired Blue as managing director for state affairs, which brought Blue back into contact with Virginia legislators, as well as an array of federal authorities, although with a different objective.

Hardy remembers showing Blue the ropes of his new job. 

“You have to work with Republicans, you have to work with Democrats. You can’t be one-sided in your approach, because we have customers that are both,” she says. “We have to know what’s coming five, 10 years from now and be able to explain to both our customers and the regulators and legislators.”

After Hardy’s retirement, Blue became Dominion’s vice president of state and federal affairs, which started his steady ascent up the corporate ladder. After a series of positions overseeing public policy, communications, regulations, energy solutions, policy and law, he became president of Dominion Virginia Power. In December 2019, he became co-chief operating officer of Dominion Energy, and in October 2020, Blue succeeded Farrell as president and CEO.

Farrell remained the utility’s executive board chairman, but only a few people knew about his grave cancer diagnosis, which claimed Farrell’s life in April 2021, one day after Blue succeeded him as chairman.

“It wasn’t easy,” Blue says of Farrell’s death. “But I had the benefit of having worked for Tom directly. For a lot of the time that I’ve been at Dominion, I [reported] directly to Tom, so I had the benefit of at least observing someone who was such a great for our company and in our industry.”

On paper, Blue and Farrell have many similarities: They were both lawyers, both U.Va. graduates and members of the university’s board of visitors, and both rose through corporate ranks to the top of Dominion.

But as CEO, Farrell was a more public presence than Blue, especially in Richmond, where Farrell made headlines for his political and civic involvement — or, as some critics then saw it, meddling — as a vocal booster for the failed Navy Hill downtown redevelopment project, and by leading renovations of the Altria Theater and a performing arts center.

Blue, on the other hand, has been a quieter leader.

Dominion’s senior vice president of corporate affairs and communications, Bill Murray, has known Blue since Warner’s term as governor and says Blue reminds him of a World War II figure, Adm. Raymond Spruance. He, too, was a “very reserved” leader who stayed calm even during battle and worked well with the “larger-than-life figure” of Adm. Bull Halsey. “Two completely different leadership styles,” Murray points out.

Blue might be best known for his habit of commuting via kayak on the James River from his home to his downtown office. It’s not a daily occurrence, he notes, because he can’t row back up the rapids and has to arrange for a ride from his wife, but Blue is indeed an avid outdoorsman who enjoys paddleboarding, biking, snow skiing and whitewater rafting.

State and federal lobbyist David Hallock, a longtime friend, says he bonded with Blue over their mutual love of U.Va. men’s basketball, adding that Blue has “an encyclopedic memory for U.Va. stats and players and remembers every game — and part of that’s [from] growing up in Charlottesville.”

As empty nesters, with two sons and a daughter grown and out of the house, Blue and his wife also travel a fair amount and spend time with their two dogs, Patty and Lemon.

In October, Dominion and Amazon.com publicly announced an agreement to explore the co-development of small nuclear reactors. Blue calls himself a “cheerleader for nuclear. It’s reliable, it’s affordable, and it’s clean.” Photo by Caroline Martin

Nuclear exploration

These days when Blue’s name is in the news, he’s often talking about nuclear energy.

At a July event with Gov. Glenn at Dominion’s North Anna nuclear power station, Blue called himself “a cheerleader for nuclear. It’s reliable, it’s affordable, and it’s clean.”

Nuclear energy is also necessary for Dominion to meet the Virginia Clean Economy Act’s 2045 carbon-free energy deadline, Blue contends. Youngkin, too, has emphasized nuclear exploration as a crucial segment of his recommended “all-of-the-above” approach to meeting the commonwealth’s energy demands.

In October, Amazon Web Services and Dominion officials announced the companies were jointly exploring the financing and development of potential SMRs in Virginia.

Despite growing momentum behind nuclear, wind and solar energy, Dominion officials also must contend with some disagreements and protests. For example, community group Friends of Chesterfield has organized opposition against Dominion’s  planned new natural gas plant in the county. It would be built on a retired coal plant property where 15 million yards of coal ash sat in two ponds until 2019, when the state legislature mandated its removal.

“The same neighbors who have endured almost 80 years of coal pollution still face the prospect of an additional 30 to 40 years of toxic emissions from this dirty gas plant,” says Friends of Chesterfield.

But Dominion officials have said that the gas plant in Chesterfield will run only intermittently as a “peaker plant,” basically as a backup source amid peak energy demands during the hottest and coldest times of the year.

“We are telling you that for the next 15 years, we’re going to need to be able to generate [energy] using natural gas in order to keep the system reliable,” Blue said during an October press scrum. “Will it be operating off of hydrogen, will it be doing something different by 2045? I can’t answer that question sitting here today.”

Another point of contention, this one longstanding, is Dominion’s outsize political influence, in particular its donations to politicians on both sides of the aisle in Virginia’s legislature.

In 2018, wealthy Charlottesville investor Michael Bills founded Clean Virginia, a PAC that offers funding to Virginia legislators who decline to take donations from Dominion or own the utility’s stock. Some Democrats have taken Bills up on his offer, and he donated a total of $12.5 million in the 2022-23 campaign cycle, but most Republican lawmakers and some Democrats still accept Dominion’s money, which amounted to about $12 million over the past decade.

Bills started the PAC because he felt Dominion had too much sway over lawmakers, many of whom had received donations from the utilities for years, even decades. “It was legal — corrupt, morally wrong, repugnant, but legal,” Bills said in a 2023 Washington Post interview. “You kind of realize that’s not the system that we should have.”

Dominion issued a statement to the Post, noting that its political contributions are public and “transparent,” and Blue says Dominion will remain politically involved.

“As our state has grown — a state that is No. 1 for business in the country because of very smart decisions made by policymakers of both parties — we’re a really important part of that, and so we need to be in the conversation,” he says. “People participate in different ways, but our company participates in the exact same way today that it did when I started here.”

Still, circumstances and priorities — other than the basics of reliable power and affordable rates for customers — can change over time, Blue allows.

Under Farrell, the Atlantic Coast Pipeline — a joint venture between Dominion and Duke Energy — was a high priority for the company, seeking to funnel natural gas across Virginia and North Carolina. In July 2020, the project was called off.

“Fundamentally, it was a matter of economics,” Blue says. “The permitting process was taking so long, in part because of court decisions that were remanding permits back to agencies to do more work … [that] it didn’t make sense from an economic perspective for the company to continue with that project.”

And in subsequent years, under Blue, Dominion has sold off multiple natural gas holdings, decreasing its debt and freeing up money for other projects, such as purchasing two more offshore wind leases off Virginia and North Carolina’s coasts that can be used one day to build more offshore wind turbines.

Blue can’t predict the future, but he views renewable and carbon-free power sources — including nuclear — as a vital part of it for Dominion. So will be meeting higher energy demands as more data centers are built in the commonwealth.

For perspective, Blue can look back to his childhood home in Albemarle, where he saw firsthand the rapid growth in power demand from consumers in homes with a host of then-new modern amenities.

“It was a ranch house built in the year I was born, 1967, and it had electric appliances and electric baseboard, electric heat,” he says. “Electric demand went up at a pretty significant rate. We’re going to be going up again.”  

McDermott to depart as Mary Washington Healthcare CEO

Dr. Michael McDermott, president and of -based since 2015, will leave to become head of Montage Health in California, the health system announced Monday. Dr. Christopher Newman, MWHC’s chief operating officer and chief medical officer, will succeed McDermott starting in spring 2025.

Newman joined Mary Washington in 2019. He previously served as chief medical officer for Penn State Health St. Joseph Regional Health Network and led operations for Penn State Health’s medical group, and holds a medical degree from Georgetown University and an MBA from the University of Virginia’s Darden School of Business.

“I am extremely proud of everything Mary Washington has achieved during my time as CEO and I am confident that under Dr. Newman’s leadership, the system will continue to grow and advance,” McDermott said in a statement. “It’s been an honor and a privilege to lead MWHC for the past 10 years, and I’m excited to watch its progress continue under Chris’ leadership.”

Dr. Christopher Newman

Mary Washington Healthcare began as an eight-room hospital in Fredericksburg in 1899 and now encompasses two hospitals, four emergency departments and more than 60 facilities. In May, Fredericksburg City Council approved a $40 million expansion of the Mary Washington Hospital Campus. A radiologist, McDermott previously practiced with Radiologic Associates of Fredericksburg. He received his medical degree from the University of Cincinnati College of Medicine and an MBA from U.Va.

“I’m deeply honored to be selected for the role of CEO, and I’m committed to continuing our mission of improving the health of the in our communities,” Newman said. “As our system continues to grow rapidly, I’m excited to build on our momentum from the past several years and to keep working to make Mary Washington the best health system for our providers, team members, patients and community members.”

Navy awards RTX subsidiary $590.8M contract for electronic attack system

The has awarded , a subsidiary of Fortune 500 aerospace and contractor , a $590.8 million contract to produce nine Next Generation Jammer Mid-Band (NGJ-MB) ship sets for the military branch’s EA-18 Growler and four more sets for the , the announced last week.

The NGJ-MB is an . The award, which is a cost-plus-fixed-fee contract, includes associated spares, support equipment and non-recurring engineering.

Raytheon employees will perform 48% of the work in Forest, Mississippi; 43% in McKinney, Texas; 7% in El Segundo, California; 2% in Andover, Massachusetts; and 1% in Fort Wayne, Indiana, according to the announcement. The work is expected to be completed January 2028.

The Navy will pay Raytheon $329.6 million in fiscal 2024 and about $75 million in fiscal 2025, while the Royal Australia Air Force will pay more than $185.9 million at the time of the award.

In October, Raytheon announced a $192 million award from the Navy to develop the Next Generation Jammer Mid-Band Expansion, an upgrade to the NGJ-MB system. The modification is designed to extend the system’s frequency range and provide additional capabilities to improve operational effectiveness.

With more than 185,000 employees globally, RTX reported $68.9 billion in sales in 2023.

Ballston BID names new CEO

The (BID) has named Danette Nguyen its next , the organization announced Monday.

A resident, Nguyen previously was the managing director of the Maryland Women’s Business Center (MWBC), a program which encourages women to start, sustain and grow their businesses. Additionally, Nguyen spent five years working at the , according to her LinkedIn profile. She has a bachelor’s in management information systems and marketing from George Mason University.

“Danette’s impressive track record and experience are exactly what we need in Ballston,” Simon Carney, senior vice president of Brookfield Properties and president of the Ballston BID board, said in a statement. “Her ability to collaborate across both private and public sectors, strategize and execute economic initiatives is where she excels. Danette brings a forward-thinking approach to the BID at a time when innovation and bold ideas are crucial.”

Nguyen, who steps into the role Thursday, replaces Tina Leone, who had led the organization from its 2011 founding until June. She is now the CEO of District Dogs, a pet care business. Cassandra Hanley, who previously worked as the executive director of Capital for Children, a private-equity membership organization that invests in Washington, D.C.-based youth development nonprofits, led the organization during the transition.

The Ballston BID represents commercial property owners in a 25-block neighborhood, which offers more than 8.3 million square feet of office space, one million square feet of retail space and 9,000 residential units. A tax paid by commercial property owners within the BID funds the organization.

CharlottesvilleFamily Magazine Unveils New Vision for 2025: Fresh Initiatives and Renewed Community Focus

CharlottesvilleFamily Magazine, a trusted resource for Central Virginia families for over two decades, is excited to announce a fresh vision for 2025. This new chapter for the popular media brand includes innovative advertiser initiatives, expanded editorial content, and a return to in-person events to better serve families.

Key highlights of the 2025 vision include:
*The First Annual ‘Doing Good’ Marketing Grant – This $10,000 marketing grant supports local nonprofits making a difference. The inaugural winner, Lilypads Housing, provides free, short-term housing for families receiving care at UVA Children’s Hospital.
*Expanded Editorial Vision – Guided by the new CharlottesvilleFamily Advisory Panel, a group of local experts lending insights and expertise, the magazine will broaden its editorial perspective to better address readers’ needs.
*New Print Schedule – A streamlined print schedule will complement timely digital content, ensuring a balanced and engaging reader experience.
*Return to In-Person Events – The inaugural CharlottesvilleFamily KidFest & Camp Expo will take place February 23, 2025, at the Piedmont Family YMCA. Families can explore camps, meet providers, and enjoy activities for all ages.

“This new vision reflects our commitment to evolving with the needs of our readers while staying true to our mission of enriching family life and supporting small local businesses,” said Publisher Jennifer Bryerton. https://www.CharlottesvilleFamily.com


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100 People to Meet in 2025

In our sixth annual list of 100 Virginians you’ll want to meet in the new year, you’ll encounter interesting of many ages and occupations — from a doctor in his 80s who built the Chesapeake Care Clinic to a 10-year-old who started his own popcorn business and whose parents are his employees. 

In between, we have folks helping underrepresented entrepreneurs secure capital funding, a couple of bestselling authors, several innovative startup founders and a handful of builders behind the commonwealth’s biggest development projects — as well a sparkling list of scientists, physicians, nonprofit leaders, educators, lawyers, business owners and company executives.

This year’s cohort of even has a rapper, a sculptor, a cyclist and an Olympic gold medalist — so plunge on in. You’ll definitely find some people here you’ll want to introduce yourself to in 2025. As always, you can break the ice by saying you read about them in Virginia Business.

Find their profiles in the below categories:

Angels

Builders

Educators

Go-Getters

Hosts

Impact Makers

Innovators

New Folks

Public Faces

Rainmakers

Storytellers

The 25th edition of the Virginia Business Legal Elite

Launched in cooperation with the Virginia Bar Association in 2000, Virginia Business’ polls lawyers licensed to practice in Virginia each year, asking them to identify which of their peers are the top attorneys across 21 specialties. Additionally, up-and-coming attorneys are recognized under the Young Lawyer category.

In compiling the edition of the Legal Elite, Virginia Business contacted more than 14,000 attorneys and more than 50 firms, directing them to a balloting website, which was available only during the annual voting period. Virginia Business contracted with Colorado-based media research and analytics firm DataJoe to conduct balloting.

This year’s Legal Elite list includes a total of 1,572 lawyers, 32.4% of the 4,845 attorneys who were nominated by their peers this year. Attorneys cast 1,241 ballots, making 23,032 separate votes across all 22 categories.

Additionally, the 18 attorneys who have appeared in all 25 editions are recognized in a special list. Ten are from Central Virginia, while five are based in Hampton Roads and three are in Northern Virginia.

Two firms are well represented in this list of 25-year honorees, with three attorneys each. Willcox & Savage has Allan G. Donn, William M. Furr and Thomas G. Johnson Jr. Williams Mullen also has three long-term honorees: William D. Bayliss and firm president, and Chairman Calvin W. “Woody” Fowler Jr., who are based in , and Thomas R. Frantz, the firm’s chairman emeritus, in Virginia Beach. 

The 25th annual Legal Elite

Silver Jubilee: Attorneys recognized as Virginia’s Legal Elite for all 25 years

 

Pittsylvania megasite wins $1.3B battery separator project

Tennessee-based will invest $1.3 billion to build a separator facility at the Southern Virginia at Berry Hill in Pittsylvania County, Gov. Glenn announced Nov. 13. The company expects to create 2,015 jobs.

The megasite’s first tenant, Microporous will develop Lot 1 at the park in two phases, with each phase being about 500,000 square feet. Lot 2 of the megasite will be under consideration for Microporous’ potential future expansion. Virginia successfully competed with North Carolina for the project.

During the ceremonial groundbreaking for the project, Youngkin nodded at the controversy created in 2023 after word broke that the governor had pulled the Southern Virginia Megasite out of the running for a $3.5 billion Ford Motor Co. electric vehicle battery factory over national security concerns that a Chinese company would be involved in its operation.

“I want to say it very clearly,” Youngkin said. “This is an American company using American technology that will hire American workers and supply American companies.”

For more than eight decades, Microporous has produced separators for lead-acid batteries, the oldest rechargeable battery technology, which is typically used in vehicles and to power grid systems. The company’s headquarters are in Sullivan County, Tennessee, near Bristol, Virginia. It also has a facility in Austria.

At the megasite, Microporous plans to expand into creating battery separators for lithium-ion batteries, which are used in electric vehicles, storage systems and other applications.

Microporous John Reeves says the facility will be at the forefront of clean energy: “We are driven by commitment to innovation, sustainability and growth, and today marks an extraordinary step in that journey.”

The company’s Berry Hill manufacturing facility will be fully operational by 2026, according to Reeves.

The Southern Virginia Megasite at Berry Hill is owned jointly by the City of Danville and through the Danville-Pittsylvania Regional Facility Authority (RIFA). Leaders in the two counties have worked to make the site a reality since 2008.

Last year, the U.S. Department of Energy announced Microporous was tapped to receive $100 million in federal funding for the project.

The Virginia Partnership worked with the Danville-Pittsylvania County RIFA, Pittsylvania County, the City of Danville, the Southern Virginia Regional Alliance, the Virginia Tobacco Region Revitalization Commission and the General Assembly’s Major Employment and Investment Project Approval Commission to secure the project.

Aiming for the fences

When renters tour the new Novel apartment building in ‘s Scott’s Addition neighborhood, one fifth-floor vantage point has particular appeal. The windows on the building’s east side look across Arthur Ashe Boulevard onto the site where the ‘ new baseball stadium, CarMax Park, is expected to open in time for the 2026 season.

“It’s a lot of fun when we are giving tours. You’re looking down into the progress,” says Brandon Wright, managing director for Crescent Communities, the North Carolina developer that built Novel with Richmond’s Thalhimer Realty Partners. In August, Crescent began marketing about half of Novel’s 275 units. “We’ve certainly seen a demand for units on that side of the building.”

Crescent was driven to invest in the project, its entry into greater Richmond, by the hot Scott’s Addition neighborhood — known for its popular breweries, eateries and entertainment options — and plans for the adjoining $2.4 billion mixed-use Diamond District development, which is being led by Thalhimer.

“This is the hottest market in the entire Richmond MSA,” Wright says.

Wright’s observations echo the city government’s excitement about the Diamond District project, which will include replacing the nearly 40-year-old Diamond baseball stadium with the new $117 million-plus, 8,000-seat CarMax Park stadium.

But that’s far from the only major development happening in the greater Richmond region. From a massive indoor farm and sports arenas to and office development, the state capital and its surrounding counties are ripe for growth.

Richmond

Over time, the Diamond District will be more than a baseball hub. Development plans for the 67-acre neighborhood call for as many as 3,000 residential units, 935,000 square feet of office space, 195,000 square feet of retail and community space, and a hotel. 

“It’s an opportunity to intentionally create a neighborhood that meets some economic development goals — bringing jobs, affordable housing [and] also public amenities like a stadium,” says Matt Welch, Richmond’s acting director of economic development. “Residents have said loud and clear that they want the Flying Squirrels to stay in Richmond, while creating an intentional neighborhood.”

Currently, much of the predevelopment work has involved putting in infrastructure and utilities, says Jason Guillot, principal with Thalhimer Realty Partners and managing partner for Diamond District Partners, the joint venture developing the project.

CarMax Park is set to debut for baseball’s opening day in April 2026 as part of the Diamond District’s first phase, which will likely not be completed until 2028, says Guillot.

“With a project this large and complex, the key is to break it down into bite-size pieces and to plan, design and then build while managing the expectations of every internal and external stakeholder, which for us is the most arduous task, as there are many,” Guillot says.

It’s unclear whether a $40 million lawsuit filed by a Connecticut developer against Diamond District Partners will delay the timetable. In the lawsuit, Republic Projects claims it was cut out of the development deal after initially being a partner.

However, “I think it’s fairly obvious to anyone driving by the site that this project is moving forward,” says Guillot, who adds he cannot comment on pending litigation.

Closer to downtown Richmond, -based CoStar Group is moving forward on the $460.5 million expansion of its riverfront Richmond campus. The global real estate data and analytics company, which is known for its Apartments.com and Homes.com brands, is building a 26-story office tower and a six-story building adjacent to its main hub at 501 S. Fifth St. CoStar expects to add about 2,000 jobs and 750,000 square feet of office space through the expansion, which is projected to be mostly complete in 2026.

The company’s new Corporate Innovation Campus in Richmond will house employees in sales, marketing, software development and other divisions.

As part of the benefits package for CoStar’s Richmond expansion, the state legislature approved a $15 million grant reimbursing the company for public infrastructure improvements, including commuter access and parking and pedestrian access. The grant is contingent on CoStar reaching at least 90% of its pledged job creation and capital investment targets by Dec. 31, 2028. 

Another major project underway in the city is the 7,500-capacity, $30 million outdoor Allianz Amphitheater at Riverfront. A project led by Charlottesville’s Red Light Ventures and Live Nation, the amphitheater is expected to open in time for the summer 2025 concert season. The first new major concert venue in Richmond in decades, the amphitheater will be set on 4 acres near the banks of the James River, near CoStar’s Richmond campus and Tredegar.

In September, opened its Chesterfield indoor vertical farm, which will produce 4 million pounds of Driscoll’s strawberries each year. Photo courtesy Plenty Unlimited

Henrico County

In neighboring Henrico County, GreenCity, a planned multibillion-dollar, 220-acre residential, commercial and entertainment community, is slowly moving forward.

Originally announced in 2020 as an environmentally friendly mixed-use development to be built around a 17,000-seat sports and entertainment arena, GreenCity has been delayed due to rising construction costs and financing needs, says Anthony Romanello, executive director of Henrico’s Economic Development Authority.

However, construction on the project’s residential portion is expected to begin in January 2025. “We don’t have a timeline on the arena, but we are excited that dirt will be turning,” Romanello says of the project from Concord Eastridge and Future Cities.

An arena would benefit Henrico’s sports tourism economy, says Romanello, noting that there’s already been high demand for the county’s Henrico Sports & Events Center, which opened in December 2023 off Interstate 95 in northern Henrico and has been booked for at least 46 weekends, he says.

“Sports tourism is a growth industry,” Romanello says. “We are working very hard to seize that opportunity. It’s a great revenue opportunity for the county.”

In the county’s East End, plans are underway for , a 622-acre site in Sandston that was rezoned to allow data center development. QTS Data Centers completed its purchase of the property this past summer for approximately $137 million.

Henrico already houses approximately 16 data centers, including several at the original White Oak Technology Park, located at the intersection of interstates 64 and 295 in eastern Henrico.

Romanello estimates that it could be 10 years before the second White Oak tech park is fully built.

To be sure, data centers have been fruitful for Henrico. From 2017 to 2024, through real estate and business property tax revenues, data centers have contributed more than $18 million to the county coffers.

Henrico’s board of supervisors announced in May that it would funnel unbudgeted revenue from data centers to a county affordable housing fund grant program.

Chesterfield County

Indoor vertical farming and a Lego toy-making factory are some of the newest developments in Chesterfield, a testament to the area’s economic development focus on manufacturing and production.

Last year, Danish toymaker The broke ground on a $1 billion, 340-acre manufacturing campus in Chesterfield’s Meadowville Technology Park, with plans to begin production in 2025. But that timeline has been pushed back to 2027, due to finalizing agreements with the general contractor and assessing design and ramp-up plans. 

Even so, construction is already taking place at the site, and Lego’s first building is expected to take shape within the next six months, says Matt McLaren, deputy director for Chesterfield Economic Development.

Already, Lego has hired 300 people to work at a temporary packing and training facility in the county, and Lego plans to hire a total of more than 1,750 employees in Chesterfield over the next decade.

“We are really excited to continue to partner with Lego,” McLaren says. “They are keeping all of their promises moving forward. This is one of the largest projects in the county and in the region.”

According to Lego, its Virginia facility will expand its global manufacturing network and support its sustainability goals, with energy efficient production equipment and manufacturing processes that minimize energy use. It also aims to locate more factories closer to major markets, so that it can respond quickly to shifts in demand for products and shorten its supply chain, says Lego spokeswoman Colleen Arons.

Once complete, the Lego campus is expected to house 13 buildings and a high-bay warehouse, all housing everything from offices to operations such as molding, processing and packing.

Nearby, another tenant in the county’s Meadowville Technology Park, California-based vertical indoor farming company Plenty Unlimited, expects to reap the first fruits from its new $300 million indoor vertical farm in early 2025.

Plenty opened its 120-acre, multibuilding Chesterfield campus in September, its second farm and its first production site on the East Coast. Also its first berry farm, the facility will grow more than 4 million pounds of Driscoll’s strawberries a year on 30-foot-tall towers inside an approximately 40,000-square-foot space. Plenty’s farms use artificial intelligence and other technology to grow produce in indoor spaces that aren’t subject to variables in temperature and weather conditions.

Initially, the company planned to hire 60 employees, but as it expands its Chesterfield campus, it hopes to grow to more than 300 employees.

“We’re supportive of these kinds of projects,” says McLaren. “They are not like the typical greenhouse. They use levels of power and light and nutrients. The scale of these buildings is such that it needs to be supported in an industrial park area, rather than outside on the farm.”

Both Plenty and Lego are examples of the ways that manufacturing jobs stretch across industries.

And that lines up with Richmond area economic trends. Since July, the majority of the Richmond region’s active development projects have involved manufacturing, followed by life sciences and food and beverage businesses, says Jennifer Wakefield, president and of the Greater Richmond Partnership.

Meanwhile, Chesterfield continues attracting big manufacturing operations to Meadowville. This summer, Danish electrolyzer manufacturer Topsoe paid $4.95 million for about 57 acres at the county technology park, where it plans to build a $400 million manufacturing plant and create 150 jobs.

Located across the street from Lego’s campus, the company’s facility will manufacture solid oxide electrolyzer cell stacks, which are used to produce renewable hydrogen.

A Topsoe spokesperson has said that the company expects construction on this project to take two years.

In September, Garrett Hart, Chesterfield’s director of economic development, noted Topsoe was working on a site plan and expects to begin construction in 2025.

“They’re moving forward,” Hart said.  

Virginia Museum of Fine Arts Photo courtesy Virginia Tourism Corp.

Greater Richmond at a glance

Founded in 1737 by Col. William Byrd II, Richmond is known as the River City for its location on the James River. The state’s capital, Richmond is home to the Virginia General Assembly and much of state government. The metro region, which includes Chesterfield, Goochland, Hanover and Henrico counties, is home to 11 Fortune 1000 companies. The region is also home to the University of Richmond, Virginia Commonwealth University, Virginia State University and Virginia Union University.

Population
226,604 (city); 1.3 million (metro region)

Major employers

VCU/VCU Health System:
21,300 employees

Capital One Financial: 13,000

HCA Virginia Health System: 11,200

Bon Secours Richmond: 8,500

: 5,400

Amazon: 5,100

Major attractions

Richmond is home to historical and cultural attractions such as the Poe Museum, the American Civil War Museum, the Virginia Museum of Fine Arts, the Virginia Museum of History & Culture and the Black History Museum and Cultural Center of Virginia. Visitors can also enjoy time outside at Maymont park or the Kings Dominion amusement park in Hanover. Carytown, the Fan District and Scott’s Addition offer many options for shopping, dining and entertainment.

Fortune 500 companies

Altria Group

Arko

CarMax

Dominion Energy

Genworth Financial

Markel Group

Owens & Minor

Performance Food Group

Notable restaurants

21 Spoons
New American, 21spoonsmidlo.com

Buttermilk and Honey
American fast casual, buttermilkandhoneyrva.com

Lemaire
New American, lemairerestaurant.com

L’opossum
Modern French, lopossum.com

Stella’s
Greek, stellasrichmond.com