Industries

Southern Virginia—For the Record

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American National Bankshares Inc., a Danville-based financial institution, extended its program to purchase up to 100,000 shares of common stock through Aug. 18, 2009. The shares will be bought either on the open market or through private transactions, as market conditions dictate. Shares which are purchased will be cancelled and retired. (PRNewswire)

The Danville region ranks near the bottom of U.S. metropolitan areas for personal income, according to the Bureau of Economic Analysis. Per capita income in Danville was $27,209 in 2007, or 335th out of 363 areas. That was up from $26,008 in 2006 — an increase of 4.6 percent. Most metropolitan areas in the U.S. saw personal income slow down during 2007, according to the report. (Danville Register & Bee)

Hanesbrands Inc., which has a distribution operation in Henry County, will close two facilities in Pennsylvania and move some of the work to Henry County and Rural Hall, N.C.  Although the facilities will receive the thermals and underwear distribution work now done in Tamaqua, Pa., there are no plans to add jobs. (Martinsville Bulletin)

The Henry County Board of Supervisors voted to help finance construction of a 100,000-square-foot shell building in the Beaver Creek Industrial Park in partnership with the City of Martinsville. The Henry County Industrial Development Authority (IDA) will issue $3.5 million in lease revenue bonds to help design and construct the building. The IDA owns the lot, which it will lease to the county. The county and Martinsville will share tax revenues from any company that locates there. (Martinsville Bulletin)

NextGen Aeronautics, a Torrence, Calif.-based designer and manufacturer of unmanned aircraft, will open an office at the Institute for Advanced Learning & Research in Danville. The company was interested in establishing an East Coast location and was attracted by high-tech programs under way at the institute, such as the Joint Unmanned Systems Test, Experimentation and Research program, and the Advanced and Applied Polymer Processing Institute. NextGen will open with three staff members and grow to about 20. (Danville Register & Bee)


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