News For the Record

For the Record - Eastern Virginia

December 2011

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Ace Hardware Corp. will invest $14 million in an East Coast redistribution center in Suffolk at the CenterPoint Intermodal Center. The investment will create 75 jobs in the next three years. The facility will service Ace’s regional distribution centers. . (News release)

AECOM, a Los Angeles-based engineering and consulting company, said it will move its two offices and 155 workers from Virginia Beach to downtown Norfolk. The company cited the recent development of light rail in the area as a major factor in the decision. (The Virginian-Pilot)

Chesapeake sold a conservation easement near the Northwest River to the Navy for $1.5 million on land it bought in June for $3.3 million. The city will continue to own the land, but the easement will prevent development of the property. The Navy sought the easement as a buffer to electromagnetic interference for its nearby surveillance facilities.
(The Virginian-Pilot)

Dollar Tree Inc., a Chesapeake-based operator of discount variety stores, will repurchase up to $1.5 billion of its common stock. (Business Wire)

Green Mountain Coffee Roasters Inc. will open a production and distribution facility in Isle of Wight County beginning next year and bring 800 jobs to an area of the state hammered by layoffs and plant closings. The Vermont-based specialty coffee company agreed to purchase a 330,000-square-foot building on 64 acres to house coffee roasting, grinding, flavoring and packaging of its single-serve portion packs for its Keurig Single-Cup Brewing System. The news was cheered especially in nearby Franklin where International Paper Co. closed its mill last year and put about 1,100 people out of work.  (Richmond Times-Dispatch)

Hampton University received a $1 million donation from Prudential Financial Inc. for its business school. The funds will be used to expand the school’s technology and communications facilities. (The Virginian-Pilot)

Huntington Ingalls Industries received a $119 million contract from the Navy for work on submarines at the Newport News Shipbuilding division. Engineering and design work will be undertaken on several classes of submarines and is expected to continue through September 2012. (The Associated Press)

An executive retirement fund at Norfolk-based Sentara Healthcare lost nearly $7.6 million over seven years because of fraud by Illinois investment adviser Timothy J. Roth. He pleaded guilty to federal charges in October. Sentara officials aren’t optimistic about getting the money back. Nonetheless, no individual employee of the health system will be affected. (The Virginian-Pilot)

Norfolk Southern Corp. plans to hire 500 employees by the end of the year in eight states, including Virginia, where positions are available in Manassas and Roanoke.The other states are Illinois, Indiana, Maryland, New York, Ohio, Pennsylvania and Tennessee. The Norfolk-based railroad expects to add 2,600 employees in 2012. (The Virginian-Pilot)

Virginia was chosen to establish a testing and certification facility for existing and next-generation offshore and land-based wind turbines. In conjunction with private companies, a project called Poseidon Atlantic will be developed in Northampton County and create 25 jobs in the next two years. (News release)

The Virginia Port Authority will cut 45 of its 71 police officers by June 2012 and replace them with contract security guards in a cost-cutting move. The work-force reduction will be undertaken through early retirement offers and layoffs. (Daily Press)

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