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Resetting the bar

Two venerable Virginia firms — Roanoke’s Woods Rogers PLC and Norfolk’s Vandeventer Black LLP — combined forces in July 2022, creating the state’s fifth largest firm, PLC, based in Roanoke.

It’s a true statewide firm, with branch offices in Norfolk, Richmond, Lynchburg and Charlottesville, in addition to locations in Kitty Hawk, North Carolina, and Hamburg, Germany.

“We think it’s a historic merger that is going to create a powerhouse Virginia law firm,” President Daniel Summerlin said in April 2022, when the firms announced the merger. “Woods Rogers and Vandeventer Black … have been around for 120-some years. When we got together and started talking to each other, we found we shared a lot of commonality in terms of practice of law, client services [and] the commitment to the bar, as well as a commitment to our communities in which we’ve been for such a long time.”

The firm has 130 attorneys among its total of 250 people. Amid a nationwide shortage, many law firms are considering .

In 2022, Virginia’s firms were reporting fierce competition to hire more , as many positions were lost through attrition during the height of the pandemic. Canceled summer internships also closed one avenue for young associates, and Virginia’s law school application rate dropped by 12.2% between 2021 and 2022. As courthouses reopened, there was even more legal work than ever, leaving remaining attorneys stretched thin.

That led to much higher salaries, signing bonuses and other perks — especially flexibility in the workday and workplace.

“The question people are asking themselves post-COVID is, ‘What do I want to be when I grow up?’” says Rudene Mercer Haynes, Hunton Andrews Kurth LLP’s hiring partner. “A lot of people have reassessed.”

Many firms turned to hybrid work schedules because of employees’ desires for flexibility, while acknowledging that many lawyers enter the field to be around other people. Flexibility is a big selling point, Woods Rogers Vandeventer Black Chairman Victor O. Cardwell noted in a September 2022 story in — and not just for millennials. The old days of 100-hour weeks have gone out of favor for all generations, attorneys say.

“Lawyers in their 30s and 40s are asking themselves, ‘Do I really want to be like the boomers?’ The answer is a resounding ‘No,’” IslerDare PC partner Steven D. Brown said in a May 2022 story. “And boomers and Generation X-ers are asking themselves whether their own health is more important than the law firm.”

In November 2022, legal recruiter Karen Vladeck of Whistler Partners wrote in Bloomberg Law that the days of $100,000 signing bonuses for second-year associates appear to be done now, but there are some specialties that are still understaffed, including labor and employment.

Elizabeth M. Ebanks, who specializes in labor and employment law at Richmond’s Ogletree, Deakins, Nash, Smoak & Stewart PC, said last fall that lawyers in her field “were at the forefront of every question from 2020 through today — from advising on hiring and retaining talent during the Great Resignation, requests to ‘work from anywhere’ (think Paris), vaccine mandate issues and broadening the scope of diversity, equity and inclusion.”

In other legal news, McLean-based cloud computing company Appian Corp. won a $2.03 billion award — estimated to be the largest award in Virginia state court history — in a May 2022 trade secrets jury verdict against Pegasystems Inc., a Massachusetts-based competitor that brands itself as . In September 2022, the judge entered a final , which Pegasystems appealed in February, and in November the two rivals settled a separate lawsuit Pegasystems filed in 2019 alleging false advertising by Appian.  

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Ups and downs

Compared with the previous two years, 2022 was less of a roller coaster for the market in Virginia, but it still presented challenges for many would-be first-time homebuyers.

As inflation rates grew, peaking at a 40-year high of 9.1% in June 2022, the Federal Reserve increased interest rates rapidly. Inflation fell to 6.5% in December 2022, but the higher rates put the brakes on the housing market in Virginia with an abrupt screech.

Over the course of 2022, 123,000 homes sold statewide, about 20% less than in 2021 but closer to pre-pandemic activity, according to Virginia Realtors. The sharpest declines were seen in Northern and Central Virginia. Bidding wars were less common last year than during the height of the pandemic, but it still wasn’t a great market for buyers, as the state’s median sales price jumped about $25,000 to $375,000 in December 2022, compared with December 2021.

However, in February, mortgage rates started to decline, prompting renewed demand. According to a Wall Street Journal report, the average 30-year home loan rate has come down by nearly a full percentage point from a 20-year high above 7% in November 2022 — although that’s still double the 3% rates from November 2021. 

On the side, many large-scale projects are now in the works across the state. In Richmond, the ball is rolling on the $2.44 billion Diamond District mixed-use development centered around a new baseball stadium for the Richmond Flying Squirrels, set to be completed in time for the 2025 baseball season.

At the end of 2022, the Richmond Authority and the Greater Richmond Convention Center Authority received five proposals from developers to redevelop the City Center Innovation District, a 9.4-acre downtown area that includes the closed Richmond Coliseum, which the city wants demolished. A 10-person evaluation panel is scheduled to narrow the group of five during the first quarter of this year.

In Hampton Roads, two of famed entertainer and Virginia Beach native Pharrell Williams’ larger projects made progress in 2022: the $1.1 billion redevelopment of Military Circle Mall in Norfolk and the $350 million Atlantic Park project in Virginia Beach.

Negotiations started last year, but as of late January, Williams’ Wellness Circle team had not yet officially signed documents to redevelop Military Circle Mall, which would include 1,100 units, a 200-room hotel and a 16,000-seat arena. In November 2022, the music superstar prodded Norfolk leaders to move forward with the project, saying “The ball’s in their court.”

Meanwhile, the Oceanfront-based Atlantic Park, Williams’ surf park project with Virginia Beach-based Venture Realty Group, secured pending financing in January and is getting closer to groundbreaking, with completion set for summer 2024. The first phase includes 120,000 square feet of retail, 310,000 square feet of residential and 15,000 square feet of office space.

Northern Virginia is seeing massive development along the Silver Line’s Loudoun County extension, which opened in November 2022 after an eight-year delay. Reston Town Center, which has 5.1 million square feet of office space, is set to add 700,000 to 800,000 square feet more in the next few years, part of a $3 billion investment by Boston Properties Inc., and developer Comstock Inc. is busy building 7 million square feet of offices and residential space at Reston Station. The company has plans for 2.5 million square feet of multiuse space at Loudoun Station in Ashburn.

In , the long-awaited White Mill project broke ground in early 2023. The $100 million public-private redevelopment of the 550,000-square-foot former textile mill, now known as Dan River Falls, is a joint venture between the city’s industrial development authority and The Alexander Co. It will have 147,000 square feet of commercial space and 150 apartments geared toward employees of the forthcoming Caesars Virginia casino.  

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Making the grade

For Virginia Gov. Glenn , this is the state’s rebuilding era.

Although his Democratic predecessor, Gov. Ralph Northam, trumpeted Virginia’s unprecedented consecutive two-time run as CNBC’s Top State for Business, Youngkin has been critical of the state missing out to our Southern neighboring states on big manufacturing deals because of Virginia’s dearth of project-ready industrial land that would enable large facilities to be built within 12 to 18 months.

In this year’s , Youngkin proposed adding $450 million to the state budget for industrial , on top of $150 million already allocated in the two-year budget. To place this in perspective, Virginia spent about $1 million a year on site development before 2021. Meanwhile, other Southern states like Georgia and North Carolina far outspent Virginia, and they also won more megaprojects that are expected to yield billions in investments and thousands of jobs.

Between 2015 and 2022, when neighboring states were awarded 120 industrial megaprojects, Virginia won one: Lego Group’s $1 billion toy manufacturing plant in Chesterfield County, announced last June. The Virginia Partnership estimated the state lost out on 52,000 jobs and $120 billion in capital expenditures over that seven-year period.

“We’re behind,” Youngkin said in an October 2022 interview with . “It takes time to catch back up. The funding is important. We are … prioritizing the best sites around the commonwealth and starting to invest in them. I think this is going to be our last step of really going to the forefront for these megaprojects. We want them all in Virginia.”

As of this publication’s mid-February deadline, Youngkin’s amendment was still under consideration at the Virginia General Assembly, although it looked likely that Youngkin would get less than the $450 million he requested. 

In January, the Virginia Business Ready Sites Program, a discretionary fund run by the Virginia Economic Development Partnership, awarded $90 million in grants for 21 industrial sites statewide. More than half of the money — $25 million and $22.2 million, respectively — went to Upper Magnolia Green, a 1,728-acre site being developed as a technology park by Chesterfield County, and Commonwealth Crossing Business Centre in , which would have the state’s only 150-acre pad with rail access and utilities.

Curiously, in December 2022, Youngkin veered off the predicted path, when it was reported that he pulled the state from consideration for a $3.5 billion electric vehicle battery manufacturing plant, citing Ford’s ties to a Chinese company that would have run the plant.

Democratic lawmakers cried foul, claiming that Youngkin was playing politics, following the leads of potential GOP presidential candidates Florida Gov. Ron DeSantis and Texas Gov. Greg Abbott, who have both taken stances against Chinese residents or companies buying land in their states.

In January, answering reporters’ questions about the thwarted Ford deal, which would have produced at least 2,500 jobs in County, Youngkin said he didn’t want the U.S. automaker to serve as “a front for ” in Virginia. In February, it was announced the plant would locate in Michigan, about 100 miles west of Detroit, with production beginning in 2026.

Aside from Lego, the state notched other economic development wins in 2022, including Plenty Unlimited Inc.’s $300 million indoor vertical farm operation in Chesterfield County and the Richmond and Henrico County expansions of Thermo Fisher Scientific Inc., which is expected to create 500 jobs across three new bioanalytical labs.

Elsewhere in the commonwealth, Hilton Worldwide Holdings Inc. plans to add 350 jobs through an expansion of its Fairfax County-based global headquarters, and Virginia Beach-based DroneUp LLC is expanding its headquarters and building a testing and training center in Dinwiddie County, creating more than 650 jobs. In Caroline County, World Class Distribution Inc., a food and beverage distributor, announced it’s building a $275 million distribution center expected to generate 745 jobs.

Virginia’s casino industry also made a stylish entrance in July 2022, with a temporary version of the Hard Rock Hotel & Casino Bristol debuting with about 600 jobs, and the $340 million Rivers Casino Portsmouth opening in January as the state’s first permanent casino. ‘s Caesars Virginia resort and Norfolk’s HeadWaters Resort & Casino are expected to open their permanent casino resorts in 2024.

 

On the move

Baker

Megan Baker, director, County

In October 2022, Baker was hired to step into the big shoes of Jill Loope, the county’s longtime economic development director who is set to retire in July. A North Carolina State and Indiana University graduate, Baker came to the Roanoke Valley from the Atlanta area, where she was president of the Fayette County Development Authority.

 

Barnes

Earl Barnes, corporate vice president and general counsel, Sentara Healthcare, Norfolk

In June 2022, Barnes became Sentara’s head counsel, after previously serving as an executive vice president and chief legal officer for Chicago’s Amita Health system. A graduate of University of Michigan’s school, Barnes previously was senior counsel of Faegre Drinker Biddle & Reath LLP’s health care practice group, and he led the $11 billion merger of Advocate Health and Aurora Health. 

 

Carter-Hoyt

Malika Carter-Hoyt, vice president of diversity, equity and inclusion, James Madison University, Harrisonburg

Carter-Hoyt was tapped as JMU’s first chief diversity officer in August, but it’s not a new job for her — this is her third time as an institution’s inaugural DEI . She came to Harrisonburg from the State University of New York College of Environmental Science and Forestry, and before that served as chief diversity officer for the city of Worcester, Massachusetts.

 

Henry Choi

Henry Choi, vice president of business development for cyber, electronic warfare and space, Huntington Ingalls Industries Inc., McLean

In April 2022, Choi, a 30-year government contracting industry veteran, was hired to lead HII’s Mission Technologies division in Fairfax County. Prior to HII, he was vice president for business development at CACI International Inc. and served in several posts at Northrop Grumman Corp.

 

Cobert

Richard “Rick” Cobert, executive director, Winchester Economic Development Authority, Winchester

A former Stafford County economic development manager, Cobert started his job leading Winchester’s EDA in November 2022. He’s a graduate of Randolph-Macon College, and for more than a decade, he worked in economic development for Baltimore County, Maryland, before moving to Stafford in 2012.

 

Dahut

Karen Dahut, CEO, Google Public Sector, Reston

Google Public Sector, a Google LLC subsidiary focused on government and educational contracting work, was formed in June 2022, and Dahut started as its CEO in October 2022. She is a former sector president at Booz Allen Hamilton, where she led the company’s $4 billion global defense business. She also served in the Navy
for six years.

 

Dean

Tasha Dean, chief revenue officer,The Martin Agency, Richmond

In December 2022, Dean was promoted as the advertising agency’s first chief revenue officer, after having led integrated production at Martin. She was in charge of a
$100 million annual budget for client production, as well as more than 300 video productions per year, and is responsible now for growing revenue and implementing organizational strategies.

 

Fabian

Alan Fabian, market president,, LewisGale Regional Health System, Salem

Fabian was promoted to lead the LewisGale hospital system in
April 2022 after having served as CEO of its hospital in Blacksburg since 2013. HCA Virginia is the parent health system of LewisGale, which has four hospitals in the Roanoke region. Fabian joined HCA Healthcare in 1995, and the New England native worked for more than 18 years in the health system’s Louisiana hospitals.

Gary

U.S. Navy Rear Adm. Christopher “Scotty” Gray, commander of Navy Region Mid-Atlantic, Norfolk

Gray now leads the Navy’s region that stretches from Wisconsin to North Carolina, including five installations in Hampton Roads. The Virginia Beach native replaced Rear Adm. Charles “Chip” Rock, who retired in June 2022, and a great deal of Gray’s focus is recruiting and retaining civilian and military personnel to keep the world’s largest Navy base running.

Hallman

Andrew Hallman, vice president for national security strategy and integration, Peraton Inc., Herndon

A former CIA deputy director for digital innovation, Hallman joined the government contractor in
May 2022 to lead its national security strategy. He previously led the Office of the Director of National Intelligence, and Peraton CEO Stu Shea called him “a national asset” when announcing his hire. In addition to his three decades at the CIA, Hallman briefed then-President Barack Obama on intelligence matters.

Hushon

Dan Hushon, chief technology officer, Guidehouse, Tysons

A longtime tech expert, Hushon joined the global management consulting company in February 2022 to lead its tech operations, including cloud computing and digital solutions. He came from DXC Technology Co., where he served as CTO for three years, and previously worked in executive positions at Sun Microsystems Inc., EMC and Corporation Service Co.’s (CSC) cybersecurity business.

 

Kiggans

U.S. Rep. Jennifer Kiggans, U.S. House of Representatives, Virginia Beach

A Republican former state senator and a nurse practitioner, Kiggans beat Democratic U.S. Rep. Elaine Luria in a highly competitive race. Both women are Navy veterans, but the similarities stopped there, as Luria gained prominence as part of the House select committee investigating the Jan. 6, 2021, attack on the U.S. Capitol. Kiggans arrived in Washington, D.C., in time for the GOP’s January battle to elect a new House speaker.

Kinsman

Patrick Kinsman, vice president of offshore wind development, Port of Virginia, Norfolk

Kinsman was tapped in February 2022 to oversee Portsmouth Marine Terminal’s conversion to a logistics hub, where Siemens Gamesa Renewable Energy S.A. is investing $200 million to build a turbine blade manufacturing plant. Kinsman’s background includes nearly three decades in the Army, including as commander of the U.S. Army Corps of Engineers’ Norfolk district.

 

Mooradian

Todd Mooradian, business school dean, William & Mary, Williamsburg

A former William & Mary business professor, Mooradian rejoined the university in August 2022 as dean of the Raymond A. Mason School of Business. Mooradian came from the University of Louisville’s business college, where he served as dean for five years, and at W&M, he was instrumental in the launch of an online MBA. Mooradian’s research has centered on the psychology behind consumer satisfaction. 

 

Price

Ryan Price, chief economist, Virginia Realtors, Glen Allen

Price was promoted from deputy chief economist in May 2022, after more than a decade. A James Madison University and Virginia Tech alum, Price has served as an urban planner for the city of Alexandria and was a researcher at George Mason University’s Center for Regional Analysis.

Randall

Fran Randall, Richmond market leader, Forvis, Richmond

In fall 2022, Randall was named to lead the new top 10 accounting firm’s Richmond market and, weeks later, became a member of its board. Forvis was formed by the June 2022 merger of Dixon Hughes Goodman LLP and BKD & Advisors. Randall joined DHG in 2019 before the firms’ consolidation, focusing on international tax. A Richmond native, she is a Virginia Commonwealth University alumna.

Shepard

Stephen J. Shepard, president and chief operating officer, Farmer Focus, Harrisonburg

Shepard joined the organic poultry producer in April 2022 as its executive vice president of operations, and in December 2022 he was promoted to president and chief operating officer. His own focus includes increasing production while reducing Farmer Focus’ carbon footprint. Formerly Shenandoah Valley Organic, Farmer Focus partners with organic chicken farmers on products that are sold at Publix and Safeway stores.

Smith

Brandi Smith, vice president of Columbia-class submarine construction, Newport News Shipbuilding, Newport News

After 20 years at the shipyard, Smith was tapped to lead the Columbia-class submarine program in July 2022. The 12 Columbia subs are set to replace the Navy’s aging Ohio-class fleet of nuclear submarines. Smith has worked as an aircraft carrier engineer and was acting construction engineering director for the
U.S.S. Gerald R. Ford aircraft carrier.

Thornton

Harold E. “Hal” Thornton Jr., president, Davenport Energy Inc., Chatham

Thornton joined the fuel company in 1995 as its human resources director, and after serving as executive vice president for 20 years, he was named president in March 2022. Thornton, an Urbana, Illinois, native, is the highest-ranking non family member at Davenport. The company supplies propane and fuel oil to 30,000 customers in Virginia, North Carolina and West Virginia, as well as gas and diesel fuel to 200 convenience stores.

 

Ajay Vinzé, business school dean, George Mason University, Fairfax County

In July 2022, Vinzé moved east to lead GMU’s School of Business after serving as dean of the University of Missouri’s Robert J. Trulaske Sr. College of Business. A booster of online learning before the pandemic, Vinzé says he hopes to create similar opportunities at Mason and also to lower education costs. He previously spent 18 years at Arizona State University, including as director of the executive MBA program.

 

Wajsgras

David Wajsgras, CEO, Intelsat, McLean

Wajsgras joined the world’s largest integrated satellite and terrestrial network operator in April 2022, succeeding retired CEO Stephen Spengler. He spent 14 years at Raytheon Co., serving as president of its $7.5 billion intelligence business and was chief financial officer for Lear Corp. Wajsgras inherited a company emerging from Chapter 11 bankruptcy and said late last year that he is open to consolidation but declined to give specifics.

 

Waran
Waran

Lori Collier Waran, president, Richmond Raceway, Henrico County

‘ former associate publisher and chief revenue officer, Waran became the first woman to lead the NASCAR-owned Richmond Raceway in July 2022. She was previously general manager and publisher of Style Weekly and worked in advertising sales for nearly two decades. One month in, Waran hosted a very special guest at the track: NASCAR team owner and NBA legend Michael Jordan. 

 

Lt. Gen. Darrell Williams

 

Lt. Gen. Darrell K. Williams (ret.), president, Hampton University, Hampton

A 1983 Hampton alum, the retired U.S. Army lieutenant general became the university’s first new president in 44 years after he succeeded William R. Harvey in June 2022. Williams was the first Black director of the Department of Defense’s Defense Logistics Agency and was vice president of Leidos Holdings Inc.’s U.K. operations.

 

Vida Williams

Vida Williams, chief digital and branding officer, Virginia Alcoholic Beverage Control Authority, Richmond

Williams has been an adjunct professor at Virginia Commonwealth University’s da Vinci Center for Innovation, as well as serving as chief diversity officer and chief data officer for SingleStone Consulting. In July 2022, she started in the newly created position at , guiding the state agency’s digital operations, e-commerce and prevention education. 

 

A library of business intelligence

Admittedly, many of my personal business memories start from more than just a short while ago — pre-internet days to say the least. Now that everything is online, we don’t hear much about libraries anymore, except maybe in the case of public schools. Politics aside, I’m delighted are still interested in reading words on a page, regardless of topic or platform.

When it comes to business libraries, I spent many of my early career days as a graduate student and business researcher gleaning information from reference books.

When media companies were still flush with money, they had in-house research departments replete with voluminous business libraries. Ours had dark wood shelves arranged around a large reading table. Stocking the shelves were decades of annual publications on pertinent topics like nationwide newspaper circulation, ad rates for newspapers, television and radio markets, and ZIP code demographics for the entire U.S. Even more obscure were reverse telephone directories, where you could look up a phone number and find a corresponding name and street address for each listing.

In the days before everything became searchable, downloadable, sliceable and diceable, corporate libraries such as these were where business information was warehoused, waiting to be turned into business intelligence.

After the internet became ubiquitous, however, these company libraries were superseded by desktop computers in every office, laptops in every briefcase and smartphones in every pocket.

Looking at the immediate horizon, artificial intelligence programs such as ChatGPT are predicted to provide all life’s answers. Think of it as big data and technology replacing big libraries and thoughtful research.

Looking back, there was something especially nice about cozying up in a physical library with all that data in one place, copying numbers down on a yellow pad and using a calculator. This is a discipline that’s perhaps lost in the eternal now of today’s copy-and-paste world. The ability to instantly recalculate until an acceptable answer appears doesn’t really replace the innate talent of defining the right research questions at the outset. There is absolutely a difference between data and intelligence.

For me, all of this comes to mind each year when publishes our March issue, The .

Back during the halcyon days of physical business libraries in the 1980s and 1990s, our March issue served up the State of the State, reporting on the commonwealth’s economy across several industries. (Suffice it to say that we’ve long served as a source for business intelligence.)

In 2013, though, we replaced that annual State of the State report with , expanding the issue to include roughly 50 different lists and charts with vital business statistics all in one place — creating an annual reference library of sorts for Virginia businesses.

And while Virginia Business has not yet moved into the realm of artificial intelligence, we have moved into e-commerce. Some of the key lists in this issue are available for purchase at virginiabusiness.com as downloadable spreadsheets in expanded formats beyond what’s included in the print version.

Whether digitized and downloaded or delivered as a paper magazine to your mailbox, think of us as your personal corporate library. Regardless of the platform, context is important, and that’s why we are especially proud to still be bringing you words on a page after 37 years. Enjoy!  

Sweet valley high

For Paul Mahoney, chair of the Board of Supervisors, the past year has stood out for bringing an “explosion of development” to the county.

Home improvement retailer Lowe’s Cos. Inc. opened a new distribution center. North American Specialty Laminations LLC established a mid-Atlantic production facility. And Würth Revcar Fasteners Inc. began work on its new North American headquarters and East Coast distribution center.

“The business community is willing to take some chances on the optimistic hope that things are getting back to ‘normal,’” Mahoney says.

Last year, the broader region received more than 400 inquiries from prospective companies — more than twice the inquiries received in 2019 — according to John Hull, executive director of the Roanoke Regional Partnership, the nonprofit regional organization representing the counties of Alleghany, Botetourt, Franklin and Roanoke and the cities of Covington, Roanoke and Salem, plus the town of Vinton.

Altogether, the Roanoke region added 434 jobs in 2022 and saw $132 million in new capital investment, says Hull.

About 45 minutes southwest of Roanoke, the economic development picture in the is also looking promising, says Sherri Blevins, chair of the Board of Supervisors.

In October 2022, county supervisors eliminated Montgomery County’s merchants’ capital tax — a tax on businesses’ inventory — even though it generated about $1.5 million annually for the county, according to Blevins. The move makes Montgomery more competitive for attracting businesses, she says.

Meanwhile, the New River Valley Regional Commission, working with leaders in Montgomery, Bland and Pulaski counties, is leveraging $69 million in grant funding from the Virginia Telecommunication Initiative, along with private and local investments, to extend high-speed internet to more than 21,000 homes and businesses in the three counties.

In November 2022, the Virginia State Corporation Commission approved a proposal by Appalachian Power to attach fiber-optic cable on its electric poles. Fiber-optic internet will become available to residents throughout this year and into 2024, according to Kevin Byrd, the commission’s executive director.

“Broadband is going to certainly help us to continue to be more competitive in economic development,” he says.

Montgomery County

Falling Branch Corporate Park in Montgomery will soon have two new tenants.

Silver Spring, Maryland-based company United Therapeutics Corp. purchased more than 16 acres at the park from the Montgomery County Economic Development Corp. for $1.06 million in June 2022. While a spokesperson for United Therapeutics declined to comment on its plans for the site, Blevins says the company will occupy a 50,000-square-foot facility. A May 2022 resolution passed by the Montgomery County Economic Development Authority noted United Therapeutics will invest a minimum of $20 million at Falling Branch and will have at least 20 employees there.

United Therapeutics owns local biotech firm Revivicor. Based at the Corporate Research Center in Blacksburg, Revivicor provides pig organs that have been genetically modified to prevent rejection in human transplant patients.

Also moving to Falling Branch is FedEx Ground. FedEx Corp. ground package delivery subsidiary plans to lease a 251,000-square-foot distribution center currently under construction on 41 acres in the park. The Virginia Economic Development Partnership reported that the facility will create 200 positions.

Roanoke County

Würth Revcar Fasteners announced plans last year for an $11 million new headquarters and distribution center to be located in the former Home Shopping Network building in Roanoke County. (See related story.)

Also in the county, Lowe’s began shipping appliances out of its new 60,000-square- foot warehouse and distribution center in October 2022, creating about 70 jobs, according to company spokesperson Kara Hauck. Roanoke-based Cherney Development, in partnership with North Carolina-based Samet Corp., built the $11 million facility located in the county’s Valley TechPark.

The county also received news in September 2022 that Wisconsin-based North American Specialty Laminations LLC, a lamination solutions provider serving the building products industry, would invest $2 million to open a mid-Atlantic production facility, creating 44 jobs.

Roanoke City

Pennsylvania-based transportation and logistics company A. Duie Pyle Inc. opened a cross-dock service center in Roanoke in April 2022, according to John Luciani, chief operating officer of LTL solutions for A. Duie Pyle. The facility employs 22 full- and part-time workers.

Floyd County

In October 2022, Phoenix Hardwoods, which produces artisan-crafted hardwood furniture and home goods, opened a retail storefront in downtown Floyd, creating eight jobs. Previously, Phoenix had a showroom at its production facility off U.S. 221, but the location meant few shoppers, says owner Jeff Armistead, who, with his wife, Annie, purchased the business in 2020 from company founders Bill and Corinne Graefe. The new showroom has made all the difference, according to Armistead. “We had more people show up at that place in one day than I had in six months at the other place” he says.

Two months later, SWVA Biochar announced it would invest $2.6 million and create 15 jobs to increase capacity at its Floyd County facility, where it produces biochar, a highly absorbent, specially produced charcoal that can be used as a filtration system and a soil conditioner.

In March 2022, Bedford County’s economic development office announced North Carolina-based business and marketing solutions company Source4 would invest more than $4.5 million and add 30 jobs to expand its facility at Vista Centre Drive in Forest. Source4 opened operations in Forest after purchasing Marketing Support Solutions Inc. in 2018. Pam Bailey, the county’s economic development director, says work has been completed on a new 43,000- square-foot-warehouse on the property.

U.S. Sen Tim Kaine and U.S. Secretary of Energy Jennifer Granholm visited the Troutville facility of Virginia Transformer Corp. on Aug. 25, 2022, to promote the company’s plans to build self-contained power modules for electric vehicle charging stations.

“It’s nice when you have a secretary and a senator coming and saying, ‘Hey, this is a big deal,’” says company spokesperson Kevin Lowery.

A business that wants to open a public charging station can order one of Virginia Transformer’s E2V units and be ready to charge vehicles within a day after delivery, according to Lowery. The unit includes multiple elements needed for charging stations, including transformers, switchgears, distribution circuits and breakers.

“Instead of having to deal with the construction of all of that,” Lowery explains, “it’s all packaged in one. We’ve already done it for them.”

Lowery expects the two manufacturing lines being built to produce the E2V to be in operation by July. He declined to say how much the expansion will cost. The company plans to finish 30 workers for the effort by midyear.

March 2023 Top Five

Photo by Associated Press/John C. Clark

 

The most-read daily news stories on VirginiaBusiness.com from Jan. 14 to Feb. 13 included Gov. Glenn ‘s controversial decision to prevent a Ford electric battery factory from coming to over worries about the project’s ties to . The plant instead will be locating in Michigan, about 100 miles west of Detroit. 

1  |   Democrats call out Youngkin on Ford plant decision  Lawmakers excoriated the governor for blocking a $3.5 billion factory that could have created 2,500 jobs in County; Youngkin expressed concerns over Ford’s partnership with a Chinese company in the project, and potential ties to China’s government. In February, Ford announced the plant will go to Michigan. (Jan. 17)

2  |   Virginia ABC announces next Pappy lotteries  The state announced a new round of online lotteries for the chance to purchase several varieties of the prized Van Winkle whiskeys. (Feb. 8)

3  |   $100 million donor gift to launch University of Virginia biotech institute  U.Va. announced plans for a $300 million biotechnology institute funded in part by a $100 million donation from Charlottesville investor Paul Manning and his
wife, Diane. (Jan. 20)

4  |   Capital One cuts 1,100 jobs  McLean-based Financial Corp. eliminated more than 1,100 technology positions. (Jan. 20)

5  |   Dollar Tree CEO resigning; former Dollar General CEO to replace him  Rick Dreiling became the Fortune 500 discount retailer’s on Jan. 29, ending Mike Witynski’s 30-month tenure. (Jan. 24)

Moving in

Southern Virginia is laying out the welcome mat for a growing number of companies seeking to locate in areas with lower taxes, better proximity to supply chains, a skilled and improved quality of life. 

During 2022, a variety of businesses, ranging from an automotive education and entertainment firm to a moving and transit company, announced plans to move into or expand in the region. Local economic development officials attribute the burgeoning commercial growth to the region’s investments in shovel-ready industrial parks and workforce training programs, as well as teamwork to promote Southern Virginia and respond to business needs.

For example, Danville and County have earmarked more than $70 million for workforce training over the past decade, preparing workers to participate in advanced manufacturing. “For the past 10 to 15 years, the region has heavily invested in assets to help attract new investments,” says Corrie Bobe, Danville’s economic development director. “That’s made our region an incredible place to invest in and grow.”

And, while the post-pandemic U.S. economy continues to recover, Economic Development Director Matt Rowe says remote work created opportunities for areas such as his to attract companies and workers who could set up shop virtually anywhere. “Quality of life is becoming really important,” he adds.

Meanwhile, progress continues on the Southern Virginia Megasite at Berry Hill, the state’s largest certified by the Virginia Economic Development Authority.

“Interest in that site is at an all-time high,” says Rowe. “That’s a major investment not just for Southern Virginia but for the commonwealth.”

Owned by the Danville-Pittsylvania County Regional Industrial Facilities Authority, the 3,528-acre site has been enmeshed in controversy in recent months after Gov. Glenn Youngkin disclosed that he had intervened to block from locating a $3.5 billion electric vehicle battery plant at the megasite that would have created 2,500 jobs. Youngkin objected to the deal on the grounds that Ford would be partnering with a Chinese company, which he believed could present a security risk. In February, Ford announced it would locate the plant in Michigan, 100 miles west of Detroit, with production beginning in 2026.

Danville and Pittsylvania County

“A lot of development and major milestones have taken place over the past year,” Bobe notes.

Work continues on redeveloping Danville’s White Mill, which had been vacant for more than a decade after the Dan River Mills textiles plant closed in 2006. The $100 million redevelopment of the 20-acre property is set to reopen this summer with 110,000 square feet of commercial space and 150 apartments. An additional 100 units are planned in the future. The project is a joint venture between the Danville Industrial Development Authority and Madison, Wisconsin-based developer The Alexander Co. In December 2022, the project received a $5 million boost from the state’s Industrial Revitalization Fund.

Meanwhile, in August 2022, Caesars Entertainment Inc. announced it had entered into a joint venture with the Eastern Band of Cherokee Indians and would be increasing its investment in its Caesars Virginia resort and casino in Danville’s Schoolfield area from $500 million to $650 million. The company broke ground on the project in August 2022, but supply chain issues and labor shortages have delayed its opening until late this year, and a temporary casino is planned to open this summer.

In October 2022, the Institute for Advanced Learning and Research in Danville opened the $28.8 million Center for Manufacturing Advancement. The U.S. Navy launched an additive manufacturing “center of excellence” at the IALR to train students in defense manufacturing. In addition, the Navy will construct a 100,000-square-foot Accelerated Training in Defense Manufacturing center adjacent to IALR’s manufacturing center, to open by 2024.

In Pittsylvania County, New Jersey-based leafy green producer AeroFarms announced plans in July 2022 to add 66 jobs at its vertical farm at Cane Creek Centre to meet increased customer demand. In total, the company plans to hire 158 people over the next 12 to 18 months.

“AeroFarms is in a high-growth field,” Rowe says. “We were able to show them that they can be successful by continuing to invest and expand in the community.”

In August 2022, Tradesman Trucking announced it would move its headquarters from Greensboro, North Carolina, to Pittsylvania’s Gretna Industrial Park. The moving and transit company will be the park’s first tenant when it opens its $4.5 million, 30,000-square-foot facility by the end of 2023 with 30 employees. Rowe credits the community’s business-friendly environment for sealing the deal. “They fell in love with the town of Gretna and its can-do attitude.”

Danville-headquartered Commonwealth Home Health Care Inc. also is moving into Gretna Industrial Park. Over the next two years, Commonwealth Home Health Care plans to move operations for its three companies — including Commonwealth Document Management and Fire Safe — into a 100,000-square-foot industrial warehouse at the park. The medical equipment company’s $1.635 million expansion includes 26 jobs.

Axxor North America, which develops and produces paper honeycombs for uses such as packaging, construction and automotive components, is investing $3.5 million and adding 21 jobs to expand manufacturing capacity at its Ringgold East Industrial Park plant. The Netherlands-based company is purchasing new machinery through a partnership with a supplier to Ford Motor Co. to produce components for the new Ford Bronco partnership. The machinery was expected to be operational by the end of February.

Halifax County

Hitachi Energy, Halifax’s third largest employer, announced a $37 million expansion of its transformer factory in South Boston in October 2022. The company is adding 26,000 square feet to its 607,000-square-foot facility to prepare for a new production line of large transformers to support the utility and renewable energy markets. In addition, Hitachi will add 165 jobs to its 370-member workforce in Halifax.

A month later, Skip Barber Racing School, the world’s largest automotive education and entertainment company, announced an investment of $8.9 million to move its headquarters from Connecticut to Virginia International Raceway, creating 24 jobs. VIR is building a 25,000-square-foot facility within its Motorsport Technology Park to lease to the company for a performance driving school.

Those announcements came on the heels of the news that Charlotte, North Carolina-based IperionX Ltd. plans to invest $82.1 million to launch Virginia’s first titanium demonstration facility in Halifax. The three-year project is set to bring 108 jobs to the county. (See related story.)

and

In June 2022, Crown Holdings Inc. announced a $20 million, 168,000-square-foot expansion of its metal can production facility at Commonwealth Crossing Business Centre in Ridgeway. The Yardley, Pennsylvania-based company’s original $145 million investment in 2021 was the largest single announcement in Henry County’s history.

Regenerative agriculture company FyberX Holdings is investing $17.5 million to establish its U.S. headquarters and production operations in Clarksville. The company is moving into the former Kinderton Distribution Center, where it will process hemp and other agricultural commodities and produce fibers for the textile industry. FyberX plans to hire 45 workers for the facility. “We had a building that is perfect for what they needed,” says Angie Kellett, Mecklenburg’s director of economic development.

Having outgrown its space in New Jersey, Worthington Biomedical Corp. is moving into a 50,000-square-foot building in the Roanoke River Regional Business Park. The firm plans to add 15 jobs as part of its $6.35 million investment.

In July 2022, the Charlotte County Board of Supervisors approved Virginia’s largest solar project, awarding Reston-based utility-scale solar developer SolUnesco LLC a permit to construct an $800 million to $1.6 billion solar farm. SolUnesco plans to sell the project to Dominion Energy, which hopes to break ground in 2025 and start operating the solar farm in 2027. It is expected to generate 800 megawatts — enough to power 200,000 homes.

“It’s the largest east of the Mississippi River,” says County Administrator Dan Witt. He adds that supervisors have approved five other solar projects, ranging from 5 to 220 megawatts.