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BWXT wins $174M naval contract

BWX Technologies, a -based manufacturer of components and fuel, announced Thursday that it has been awarded a $174 million contract from the U.S. Naval Nuclear Propulsion Program to manufacture naval nuclear reactor fuel.

The contract was awarded on Sept. 10. Through the agreement, subsidiary , based in Erwin, Tennessee, will manufacture and deliver fuel for the program, which is a joint Navy–Department of effort responsible for the design, , operation and oversight of the nuclear reactors that power the submarines and aircraft carriers.

The NFS facility processes highly enriched uranium to manufacture fuel for naval nuclear reactors. BWXT said that the site has been involved in the manufacture of nuclear fuel for the U.S. Navy for over 60 years.

BWXT said its fuel and reactors power the U.S. Navy’s Ohio-, Virginia-, Seawolf-, Los Angeles- and Columbia-class submarines, as well as the Nimitz and Ford class aircraft carriers.

Work is underway on the contract, which is expected to be completed in summer 2026.

“The U.S. Navy recently celebrated its 250th anniversary, and BWXT is proud to be powering our world-class fleet right now and into the future,” said Gary Camper, president for BWXT’s nuclear operations group, in a statement. “The team at NFS demonstrates the level of quality and commitment needed each day to fuel the Navy’s global mission of maintaining freedom and security.”

In July, the U.S. Naval Nuclear Propulsion Program awarded BWXT contracts totaling approximately $2.6 billion for the manufacture of naval nuclear reactor components. That award was in addition to the $2.1 billion in contracts that the program awarded to BWXT in February for nuclear reactor component and material procurement for Columbia- and Virginia-class submarines, as well as Ford-class aircraft carriers.

A Fortune 1000 company, BWXT manufactures and supplies nuclear components and fuel. It has nearly 10,000 employees across 20 major operating sites in the United States, Canada and the United Kingdom.

Dominion plans more natural gas, solar in 20-year forecast

Summary:

  • Dominion has submitted an update to its 2024 integrated resource plan
  • New plan calls for 40% more to 2045 compared to 2024 IRP’s estimate
  • power will make up about half of all new power generated

Virginia’s future could hold more solar and natural gas power generation, according to an integrated resource plan filed by this month.

Filed Oct. 15 with the Virginia State Corporation Commission, the nonbinding energy production outlook anticipates about 5% annual increase in energy demand over the next 20 years, which would double the state’s demand by 2045. The report also takes into consideration the Virginia Clean Economy Act’s requirement that Dominion shift to carbon-free, renewable energy sources for generation by 2045.

The new plan is an update on last year’s IRP, which called for more offshore wind and solar energy development, as well as the development of small modular nuclear reactors that could be active in the 2030s.

The set out three separate scenarios in the 250-page document, although only two are viewed by Dominion as viable options:

  • The company-preferred plan, in which solar, wind and battery storage would make up 54% of Dominion’s capacity mix in 2045; gas and steam would make up 33%, and nuclear energy, 8%;
  • The lowest-cost VCEA-compliant plan without Environmental Protection Agency regulations, in which renewable energy would make up 54% of capacity mix; gas, 29%; nuclear, 7%;
  • The “forced retirements by 2045” plan would lead to 78% renewable energy capacity, 14% nuclear and 4% gas and steam — however, Dominion’s analysis says “the company does not see a viable path towards full of all carbon-emitting resources by 2045.”

The utility also anticipates costs for the three plans in the report: $270.4 billion for the “forced retirements” plan; $91.8 billion for the company’s preferred plan; $80.1 billion for the lowest-cost VCEA-compliant plan without EPA regulations. The “forced retirement” plan calls for doubling the number of large-scale nuclear plants and SMRs, contributing to its overall cost, but the 2025 IRP says that this plan is not considered feasible because of customer affordability concerns, capital costs and reliability issues.

According to Dominion spokesperson Tim Eberly, the major — and feasible — changes from the 2024 IRP are a 40% increase in natural gas generation the utility expects to need over the next 20 years, and a reduction in the amount of battery storage. Also, more than half of the utility’s new power generation is expected to be solar.

Although solar and energy storage plants are viewed as operating hand in hand, Eberly explained that power storage is still a relatively young technology. Lithium-ion batteries store power for only four to six hours, and Dominion and other utilities need to be able to store energy over a much longer period of time since solar- and wind-powered generation is intermittent.

To meet future demand for energy, Eberly added, the utility expects it will have to provide about 33 gigawatts of new power over the next 20 years under the company-preferred plan. This will help meet demand produced by the growing data center industry as well as lower Dominion’s purchase of energy produced by third-party sources. Currently about 20% of all Dominion’s power comes from outside sources, and the utility’s goal is to lower that to 4% by 2045.

Natural gas plants are a point of contention for many environmentalists and concerned neighbors, but Dominion officials and others in Virginia view the plants as necessary backup options for peak energy hours if not enough solar and wind energy is being produced to keep the lights on. Under the VCEA, there is a loophole that allows natural gas to be used as a backup energy producer with state approval, but Gov. Glenn Youngkin and other Republicans have suggested that the VCEA needs to be changed to allow more natural gas plants to operate past 2045.

Eberly said, however, that the October IRP does not anticipate or project changes to the law, which was passed in 2020, before and increased home internet use led to much higher energy demands.

Despite all of the calculations, the IRP is just a forecast for Dominion’s coverage region of Virginia and North Carolina, and the region’s energy needs for the next two decades. A second document, Dominion’s sixth annual clean energy report filed with the SCC in October, delineates solar and energy storage projects already approved by localities but waiting for the SCC’s green light. These annual reports are required under the VCEA.

Forthcoming projects in the report include 11 solar and energy storage facilities statewide that would produce 1,400 megawatts of electricity, enough to power 3,500 homes, Eberly said, noting that most of these projects are set to be in operation between 2027 to 2030. Eight are large-scale projects, and more than 1,000 megawatts will be produced by Dominion-owned facilities. The remaining 400 megawatts will come from third-party power purchase agreements, he said. Eberly estimates that the construction of these projects will add about $3.20 to the typical customer’s monthly power bill.

As for concerns about massive prompting higher residential power bills, Eberly said that Dominion is trying to create a customer class just for data centers, an effort to protect residential customers’ wallets.

Developers of $750M Norfolk casino secure license to operate

The has approved a license for the developers of ‘s $750 million casino, clearing the way for a temporary hall to open next month.

According to a Wednesday announcement from , which is developing the casino along with the , the Virginia Lottery Board evaluated the application and determined the applicant met the standards of integrity, financial stability, security and responsible gaming. The board is tasked with regulating lottery and gaming activities under state law.

The casino gaming operator’s license was approved for Golden Eagle Corporation II, a limited liability company for the developers and operators of the casino.

The approval clears the way for the opening of the Interim Gaming Hall — a temporary predecessor to the permanent casino — in November. Located beside the permanent resort site, The Interim will have more than 130 slot machines on a single-level gaming floor and some food and beverages. Its initial hours will be from 10 a.m. to 2 a.m. daily.

“For the Pamunkey Indian Tribe, this license is more than regulatory clearance, it is a milestone of opportunity, a reaffirmation of our long-term vision for economic development, job creation and partnership with the community of Norfolk,” Pamunkey Indian Tribe Chief Kevin Brown said in a statement. “We look forward to shared success ahead with our partners at Boyd Gaming and the City of Norfolk.”

The developers anticipate opening the permanent in late 2027. Expected to create 850 jobs, the resort will have a 65,000-square-foot casino, a 200-room hotel, eight food and beverage outlets, and a 45,000-square-foot outdoor deck. It will also include 1,500 slot machines and 50 table games, as well as 13,000 square feet of meeting space and 4,000 square feet of spa and gym.

on the casino began in February.

“We are honored to receive the Virginia Lottery Board’s approval,” Ron Bailey, general manager and vice president of the , said in a statement. “With this step complete, we have taken a major step toward the realization of our vision of creating a best-in-market gaming resort in the city of Norfolk. We look forward to opening the doors of The next month and continue to work toward the opening of our $750 million casino resort in late 2027.”

Virginia has three operating in Bristol, Danville and Portsmouth, and construction on the $1.4 billion Live! Casino & Hotel Virginia in Petersburg began in March.

Freedom First credit union CEO to retire in 2026

After more than a quarter-century with the that is now , Paul Phillips will retire as president and at the end of 2026, according to a Wednesday announcement.

He will be succeeded by Linda Johnson, currently the -headquartered credit union’s CFO.

“It has been one of the greatest honors of my life to lead Freedom First alongside such dedicated and talented individuals,” Phillips stated in a news release.

Phillips joined Roanoke GE Federal Credit Union, which, at that time, served employees of Roanoke Electric Steel and General Electric, in 1998 as vice president of lending. In 2000, he was named president and CEO.

In 2002,  the credit union converted from a select employee group charter to a community charter serving the Roanoke area. The next year, its leaders gave it its current name.

Freedom First had 62,702 members at the end of 2024.

“We’re grateful for Paul’s impactful leadership, vision and the strong foundation he’s built for the future,” David Lowen, chair of the credit union’s board, stated in a press release. “Paul’s dedication to serve our members and the community is one of the reasons we’ve grown to become the largest locally owned and operated financial institution in Roanoke.”

Johnson joined Freedom First in 2008 as a senior vice president of accounting and . She’s been a member of the credit union’s leadership team for the past 11 years and was promoted to her current role in 2020.

During Johnson’s tenure, she helped grow the credit union’s assets from $248 million to about $1.2 billion, according to Freedom First.

Linda Johnson. Photo courtesy Freedom First Credit Union
Linda Johnson. Photo courtesy Freedom First Credit Union

Johnson holds a dual bachelor’s degree in business administration and management from the University of Phoenix. She earned a master’s degree in finance and accounting from the the University of Maryland Global Campus.

“Linda’s leadership, expertise and passion for Freedom First’s members, employees and mission made it clear she is far and away the best person for the job,” Lowen stated in the news release.

Today, Freedom First serves an area covering 22 counties and 10 cities across Virginia with 14 branches.

Fed cuts key rate again to support slowing economy

Summary

  • Fed cuts benchmark rate to about 3.9%, second cut this year.
  • Move aims to spur hiring as stays above target.
  • Powell signals uncertainty about another cut in December.
  • Data delays from complicate Fed outlook.

WASHINGTON (AP) — The cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated.

“Job gains have slowed this year, and the rate has edged up but remained low through August,” the Fed said in a statement issued Wednesday. “More recent indicators are consistent with these developments.” The government hasn’t issued unemployment data after August because of the shutdown. The Fed is watching private-sector figures instead.

Wednesday’s decision brings the Fed’s key rate down to about 3.9%, from about 4.1%. The central bank had cranked its rate to roughly 5.3% in 2023 and 2024 to combat the biggest inflation spike in four decades. Lower rates could, over time, reduce borrowing costs for mortgages, auto loans, and credit cards, as well as for business loans.

The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without the economic signposts it typically relies on from the government, including monthly reports on jobs, inflation and consumer spending, which have been suspended because of the government shutdown. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves.

The Fed typically raises its short term rate to combat inflation, while it cuts rates to encourage borrowing and spending and shore up hiring. Right now its two goals are in conflict, so it is reducing borrowing costs to support the job market, while still keeping rates high enough to avoid stimulating the economy so much that it worsens inflation.

Speaking to reporters after the Fed’s announced its rate decision, Fed chair said there were “strongly differing views about how to proceed in December” at the policy meeting and a further reduction in rates is not “a foregone conclusion.”

On Wednesday, the Fed also said it would stop reducing the size of its massive securities holdings, which it accumulated during the pandemic and after the 2008-2009 Great Recession. The change, to take effect Dec. 1, could over time slightly reduce longer-term on things like mortgages but won’t have much impact on consumer borrowing costs.

The Fed purchased nearly $5 trillion of Treasury securities and mortgage-backed bonds from 2020 to 2022 to stabilize financial markets during the pandemic and keep longer-term interest rates low. The bond-buying lifted its securities holdings to $9 trillion.

In the past three years, however, the Fed has reduced its holdings to about $6.6 trillion. To shrink its holdings, the Fed lets securities mature without replacing them, reducing bank reserves. In recent months, however, the reductions appeared to disrupt money markets, threatening to push up shorter-term interest rates.

Two of the 12 officials who vote on the Fed’s rate decisions dissented, but in different directions. Fed governor Stephen Miran dissented for the second straight meeting in favor of a half-point cut. Miran was appointed by just before the central bank’s last meeting in September.

Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, voted against the move because he preferred no change to the Fed’s rate. Schmid has previously expressed concern that inflation remains too high.

Trump has repeatedly attacked Powell for not reducing borrowing costs more quickly. In South Korea early Wednesday he repeated his criticisms of the Fed chair.

“He’s out of there in another couple of months,” Trump said. Powell’s term ends in May. On Monday, Treasury Secretary Scott Bessent confirmed the administration is considering five to replace Powell, and will decide by the end of this year.

Meanwhile, the government shutdown has interrupted economic data. September’s jobs report, scheduled to be released three weeks ago, is still postponed. This month’s hiring figures, to be released Nov. 7, will likely be delayed and may be less comprehensive when they are finally released. And the said last week that October’s inflation report may never be issued at all.

The data drought raises risks for the Fed because it is widely expected to keep cutting rates in an effort to shore up growth and hiring. Yet should job gains pick up soon, the Fed may not detect the change. And if hiring rebounds after weak job gains during the summer, further rate cuts may not be justified.

Before the government shutdown cut off the flow of data Oct. 1, monthly hiring gains had weakened to an average of just 29,000 a month for the previous three months, according to the Labor Department’s data. The unemployment rate ticked up to a still-low 4.3% in August from 4.2% in July.

More recently, several large corporations have announced sweeping , including UPS, Amazon, and Target, which threatens to boost the unemployment rate if it continues.

Meanwhile, last week’s inflation report — released more than a week late because of the shutdown — showed that inflation remains elevated but isn’t accelerating and may not need higher interest rates to tame it.

The government’s first report on the economy’s growth in the July-September quarter was scheduled to be published on Thursday, but will be delayed, as will Friday’s report on consumer spending that also includes the Fed’s preferred inflation measure.

Fed officials say they are monitoring a range of other data, including some issued by the private sector, and don’t feel handicapped by the lack of government reports.

Two Virginia companies donate to White House ballroom project

Two Virginia companies are donating to ‘s roughly $300 million ballroom construction project.

The White House released in late October a list of 37 donors that included Henrico County-based tobacco products manufacturer and McLean-based federal contractor Hamilton. The list did not disclose the amounts donated.

Trump last week said the ballroom will cost about $300 million, an increase from the $200 million estimate given in late July. He has said the project will not use taxpayer money.

Another Virginia company, McLean’s Clark Construction, is leading the ballroom construction team.

The White House’s East Wing was demolished last week to make room for the 90,000-square-foot White House State Ballroom. The White House initially announced the new ballroom would have seating capacity for 650 . Last week, Trump said the ballroom will now be built to hold 999 people.

Trump is also planning to build a triumphal arch to mark the United States’ 250th anniversary. On Oct. 28, he fired all six members of a federal commission that has responsibility for reviewing the ballroom and arch construction projects.

An spokesperson confirmed that the company is supporting the ballroom project with a contribution to the Trust for the National Mall. did not respond to a request for comment before deadline.

Altria has about 6,200 employees, with the vast majority residing in the U.S., and reported $24 billion in 2024 revenue.

Booz Allen Hamilton reported $12 billion in fiscal 2025 revenue and has about 32,500 employees worldwide following a 7% reduction in its headcount announced this summer. On Friday, Booz Allen CEO Horacio Rozanski said the contractor would launch another round of , citing a reduction in federal spending.

Other companies on the White House ballroom construction donor list with significant presences in Virginia include Amazon.com, which built its East Coast headquarters, HQ2, in Arlington County, and semiconductor company Micron Technology, which said in late December 2024 it would invest up to $2.17 billion to expand its Manassas facility.

Paramount to cut 2,000 jobs after Skydance merger

Summary

AP Business Writer (AP) — In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount has begun set to impact about 2,000 employees.

Paramount initiated roughly 1,000 of those layoffs company-wide on Wednesday, according to a source familiar with the matter, who spoke on the condition of anonymity because they weren’t authorized to publicly comment on behalf of the company. The rest of the cuts will be made at a later date, they said.

In all, 2,000 job reductions amount to about 10% of the Paramount’s total workforce.

“These decisions are never made lightly, especially given their effect on our colleagues who have made meaningful contributions to the company,” CEO David Ellison wrote Wednesday in memo to employees, which was obtained by The Associated Press.

The prospect of coming job cuts has hovered above Paramount employees for a while now. Ellison on Wednesday reiterated that the company has been working to restructure since the completion of its merger in August — and noted that are “part of that process.”

It’s not uncommon for businesses to initiate layoffs following a merger. And when Skydance completed its purchase of Paramount, the combined company said it would look for “opportunities to streamline its business.” Paramount reportedly began making cuts in August.

Since launching “new Paramount” just months ago, Ellison has already moved to add more acquisitions to the media giant’s portfolio and shake up leadership at CBS, its top broadcast network. On Oct. 6, the company announced that it had bought news and commentary website The Free Press — and installed its founder, Bari Weiss, as the editor-in-chief of .

The company is now rumored to be eyeing an even heftier acquisition: Warner Bros. Discovery, the home of HBO, CNN and DC Studios.

Neither Paramount or Warner have publicly confirmed talks. But Warner recently signaled that it may be open to selling all or parts of its business — in light of “unsolicited interest” it said it had received from multiple parties. The company has been reportedly resistant to Paramount’s initial approach. According to CNBC, which cited anonymous sources, Warner had rejected three offers from Paramount as of last week.

GM to lay off 1,700 workers amid slowing EV demand

Summary

  • GM cutting 1,700 jobs across Michigan and Ohio facilities.
  • Slower electric vehicle demand drives production realignment.
  • battery plants to pause output in 2026.
  • Some workers may receive partial pay and benefits during .

NEW YORK (AP) — is laying off about 1,700 workers across sites in Michigan and Ohio, as the auto giant adjusts to slowing demand for .

The Detroit News first reported the cuts on Wednesday — covering about 1,200 jobs at an all-electric plant in the Detroit area and 550 workers at Ultium Cells battery cell plant in Ohio, in addition to hundreds of other employees slated for temporary layoffs. GM later confirmed the news to The Associated Press.

“In response to slower near-term EV adoption and an evolving regulatory environment, General Motors is realigning EV capacity,” the company said in a statement, while maintaining it “remains committed to our U.S. manufacturing footprint.”

GM added that Ultium Cells is also “adjusting production in response to recent changes in customer plant demand.” The company said that battery cell production in Warren, Ohio and a facility in Spring Hill, Tennessee would be paused beginning January 2026.

Per the The Detroit News, 850 workers at the Ohio plant are slated for “temporary layoffs,” along with another 700 employees in Tennessee.

GM says these impacted employees “may be eligible to continue receiving a significant portion of their regular wages or salary, plus benefits.” The Michigan-based company said it will use the pause to make upgrades at both facilities, and it anticipates resuming operations by the middle of next year.

The dwindling EV adoption cited by GM Wednesday arrives shortly after a recent expiration of federal tax credits. Before Sept. 30, new EVs came with a $7,500 federal tax credit, and up to $4,000 for used vehicles. But prospective buyers can no longer qualify. The incentive was ended as part of the massive tax and spending cut bill Congress passed in June.

GM has also downsized other parts of its workforce recently. In the last week, that’s included layoffs of 200 salaried employees — mostly computer-aided design engineers in Detroit — and another 300 job cuts in Georgia, where the company is shutting an IT Innovation Center.

AI chipmaker Nvidia is the first $5 trillion company

Summary

  • becomes first company valued at $5 trillion.
  • chip demand continues to drive Nvidia’s rapid rise.
  • unveils $500B in chip orders, new deals.
  • Experts warn of a possible AI-fueled tech bubble.

Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier.

Hitting the new benchmark puts more emphasis on the upheaval being unleashed by an craze that’s widely viewed as the biggest tectonic shift in technology since Apple co—founder Steve Jobs unveiled the first iPhone 18 years ago. Apple rode the iPhone’s success to become the first publicly traded company to be valued at $1 trillion, $2 trillion and eventually, $3 trillion.

But there are concerns of a possible AI bubble, with officials at the Bank of England earlier this month flagging the growing risk that tech stock prices pumped up by the AI boom could burst. The head of the International Monetary Fund has raised a similar alarm.

The ravenous appetite for Nvidia’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023. On Wednesday the shares touched $207.86 in early morning trading with 24.3 billion shares outstanding, putting its market cap at $5.05 trillion.

In comparison, Nvidia’s value is greater than the GDP of India, Japan and the United Kingdom, according to the International Monetary Fund.

Nvidia carved out an early lead in tailoring its chipsets known as graphics processing units, or , from use in powering video games to helping to train powerful AI systems, like the technology behind ChatGPT and image generators. Demand skyrocketed as more began using AI chatbots. Tech companies scrambled for more chips to build and run them.

Nvidia CEO Jensen Huang has downplayed concerns of a bubble bursting, saying that the generative AI chatbots that were merely “interesting” when they first took hold a few years ago are now becoming so useful that they will be profitable.

Huang was heading to South Korea this week as leaders from major Pacific Rim economies, including the United States, China and Japan, are gathering for the annual Asia-Pacific Economic Cooperation summit that has long championed free trade but is now confronting sweeping U.S. tariffs on technology and other products.

The multilateral gathering in Gyeongju is expected to be overshadowed by a sideline event — a face-to-face meeting on Thursday between Trump and Chinese leader Xi Jinping — as their intensifying trade war leaves the South Korean hosts in a difficult balancing act.

On Tuesday, Huang disclosed $500 billion in chip orders. The company also announced a partnership with Uber on robotaxis and a $1 billion investment in Nokia, with the two planning to work together on 6G technology.

In addition, Nvidia is teaming with the Department of to build seven new AI supercomputers.

Last month Nvidia announced that it will invest $100 billion in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI to ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.

In August, Huang said that Nvidia was discussing a potential new computer chip designed for China with the . Trump said on Air Force One that he will speak with Xi about Nvidia’s chips on Thursday on the sidelines of the APEC event that Huang is also attending.

In August, Trump announced a deal with chipmakers Nvidia and AMD to lift export controls on sales of advanced chips to China in exchange for a 15% cut of the revenue, despite concerns from national security experts that such chips will end up in the hands of Chinese military and intelligence services. That same month, Trump announced that the U.S. government had taken a 10 percent stake in Intel worth around $11 billion.

Then, Nvidia announced last month that it’s investing $5 billion in Intel and will collaborate with the struggling semiconductor company.

Modular housing manufacturer to hire 89 in Southwest Virginia

A production facility that will also provide workforce training will soon come to , where it is anticipated to create 89 jobs within five years.

The project, announced Wednesday, is supported in part by a $3 million loan from the () to the Russell County Industrial Development Authority, the county’s primary economic development organization. The money will be used to purchase and renovate the former 92,000-square-foot Buster Brown Building in the Russell County Industrial Park.

The former Buster Brown Building in the Russell County Industrial Park. Photo Courtesy VCEDA

Abingdon-based nonprofit Appalachian Highlands Partners, a subsidiary of the Wellspring Foundation of , formed in 2024, has been working with the IDA on the project. Wellspring identified workforce housing as one of the greatest needs in its service area — Washington, Grayson, Russell and Smyth counties. It created AHHP to provide housing for those earning between 80% and 120% of the area median income.

AHHP determined there was a need to manufacture modular housing, which is built in component parts and then brought to a home site and placed on a permanent foundation. It also recognized that laborers were needed to work in the facility and that a workforce development component was required.

“This initiative not only delivers high-quality, cost-effective homes for our community but also equips local workers with in-demand skills in modern construction techniques, creating lasting economic and social impact,” said Mayana Rice, AHHP director, in a statement.

AHHP and the IDA did not provide a timeline for when the repurposed facility would open and did not immediately respond to requests for comment. The facility aims to produce at least 260 modular units in its first year and expand to 300–400 annually as the workforce grows.

Homes will be marketed throughout the region through partnerships with housing agencies and other advertising strategies. The homes will be available throughout the entire VCEDA region, which includes Buchanan, Dickenson, Lee, Russell, Scott, Tazewell and Wise counties and the city of .

“Russell County IDA is excited about the new facility and the workforce training that it will provide for the region,” said Russell County IDA Director Ernie McFaddin in a statement. “Not only will this project assist with workforce training, it will also help alleviate the workforce housing shortage for the region.”

VCEDA was created by the Virginia General Assembly in 1988 to enhance and diversify Southwest Virginia’s and to help create jobs.