For the Record - Central Virginia

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Design Ready Controls Inc., a Minneapolis-based manufacturer of control panels, will invest $300,000 in a facility in Henrico County to produce control panels for heating, ventilation and air-conditioning systems. The company expects to employ 25 people by the end of the first quarter. The operation will be its first on the East Coast. (Richmond Times-Dispatch)

Elephant Insurance Services Inc., a Henrico County auto insurer, will hire more staff to handle business from its expansion into the Texas market, the fourth state where it is licensed. The company employs over 200 people and has 36 openings due to its latest expansion. (Richmond Times-Dispatch)

Fulcrum Concepts LLC, a provider of professional services to the defense and law enforcement sectors, will invest $4.6 million in an operation at Middle Peninsula Regional Airport in King and Queen County to provide specialized training and avionics support for military and civilian special operations personnel. The investment is expected to create 31 jobs over the next 36 months. (News release)

Honeywell Inc., a manufacturing and technology company, will invest $27.5 million in its Chesterfield County operation where it produces polyethylene fiber for bullet-resistant vests and body armor for the military and law enforcement. The investment will create 50 jobs. Virginia competed with North Carolina and South Carolina for the project. (News release)

The MeadWestvaco Foundation of Richmond gave $1 million to Virginia Commonwealth University to support research on river environments. The gift will fund a new lab for the study of water resource issues at VCU’s Rice Center. (News release)

Media General Inc., a Richmond-based media company, is exploring the sale of some its newspapers after receiving inquiries from several potential buyers. Media General’s operations include 18 network-affiliated television stations, 23 daily newspapers and their associated websites. Eight of the daily papers are in Virginia, including the Richmond Times-Dispatch. (

Richmond signed a 30-month contract extension with SMG to continue management of the Richmond Coliseum. The city sought to gain time to hire a consultant and study long-term commitments for management of the 40-year-old arena. SMG has managed the facility through a joint venture with Johnson Inc. since 2002 but has been involved with its management for over 25 years. (Richmond Times-Dispatch)

StreamCo LLC, a provider of commercial real estate management services headquartered in Henrico County, bought Afton Hospitality, a hotel management and consulting firm in Virginia Beach. The deal gives StreamCo entry into the hospitality service sector and increases its portfolio from 4 million square feet under management in 18 states to 6.5 million square feet in 22 states. (Richmond Times-Dispatch)

Tessy Plastics LLC, a New York-based provider of custom injected molded plastic components, will invest $4.8 million in its Lynchburg operation, creating 60 jobs. The facility serves the medical disposables market. (News release)

The U.S. Postal Service will close a mail-processing center in Norfolk and move those operations to its center in Henrico County. It’s unclear how many of the 472 Norfolk jobs might go to Henrico since the USPS is seeking to cut 35,000 jobs nationwide by closing 223 processing centers, including others in Roanoke and Lynchburg. (Richmond Times-Dispatch)


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