Cover Story
‘Behind the eight ball’
Officials rush to correct looming site shortage
David Manley had a good feeling. The site visit was going well. During their spring 2021 tour of the Progress Park industrial site in Wytheville, the leaders of a manufacturer of nitrile gloves — those blue, disposable pieces of personal protective equipment that have become ubiquitous during the pandemic — seemed intrigued by the prospect of the
Opinion
The bigger picture
Published
Welcome to the 10th edition of The Big Book. Virginia Business Publisher Bernie Niemeier had the inspiration for this annual issue more than a decade ago when he was retrieving his mail and noted the heft of Vanity Fair’s jam-packed annual Hollywood issue. “Why can’t we have a big book like this?” he thought to
From This Issue
Compounding interest
More companies considering valleys for expansion
Published
The Roanoke Valley enjoyed a constant stream of nibbles from prospective corporations considering the area in 2021, according to John Hull, executive director of the Roanoke Regional Partnership, which promotes development in four counties and three cities. “I don’t think we’ve ever been this busy in terms of interest and activity,” Hull says. “It’s just
Code red
Hospitals face major staffing shortages
Published
Although many business sectors focused on moving on from the COVID-19 pandemic once vaccines became broadly available in 2021, Virginia’s health care industry has remained heavily burdened by continuing caseload surges and extreme staffing shortages. In September 2021, Gov. Ralph Northam voiced frustration at a news conference, saying, “It’s getting to the point where we
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Retaining walls
Focus is on keeping businesses happy, growing
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With COVID-19 limiting travel and site visits for companies considering coming to Hampton Roads, economic development officials focused on shoring up existing businesses in 2021. That strategy appears to have paid off, judging by the number of companies expanding throughout the region. “2021 has been a banner year for us,” says Norfolk Economic Development Director
Thinking big
Va.’s major public companies made billions in 2021
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At Virginia’s largest publicly traded companies, the past year has been a constant exercise in challenging the status quo. Some major changes could be seen at the consumer level, as Dollar Tree Inc. raised its namesake base price point to $1.25, and Capital One Financial Corp. eliminated overdraft fees for its banking customers. And the
The great rethink
Work-life balance becomes an economic factor
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As we enter Year 3 of the COVID-19 pandemic, the overwhelming question has become less, “When will we return to normal?” and more, “What do we want ‘normal’ to look like?” A year ago, as COVID-19 vaccines became more broadly available, many of us thought life in 2022 would be a lot more like 2019.
Chambers of commerce
A sampling of statewide chambers and business organizations from around the commonwealth
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STATEWIDE Asian American Chamber of Commerce Tysons (571) 633-9754 asian-americanchamber.org Virginia Asian Chamber of Commerce Ashland (804) 344-1540 aabac.org Virginia Chamber of Commerce Richmond (804) 644-1607 vachamber.com Virginia Hispanic Chamber North Chesterfield (804) 378-4099 vahcc.com CENTRAL VIRGINIA Altavista Area Chamber of Commerce Altavista (434) 369-6665 altavistachamber.com Amelia County Chamber of Commerce Amelia (804) 608-6839 ameliachamber.org
Stronger together
Community banks gain scale from mergers
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Bank acquisitions and mergers, particularly among Virginia’s community banks, continued apace in 2021. Banks sought scale for efficiency and flexibility, as well as to acquire resources in anticipation of potential new government regulation. “The recurring theme in bank mergers is scale,” Bruce Whitehurst, president and CEO of the Virginia Bankers Association, told Virginia Business in
A sampling of Virginia’s major road projects
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HAMPTON ROADS Hampton Roads Bridge-Tunnel Expansion Project Construction on the $3.8 billion Hampton Roads Bridge-Tunnel (HRBT) expansion — the largest highway construction project in Virginia’s history — began in October 2020. The project will widen the four-lane segments of the 9.9-mile Interstate 64 corridor in Norfolk and Hampton to six lanes and create twin two-lane
Tilting toward windmills
Siemens Gamesa positions region as offshore wind hub
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Siemens Gamesa Renewable Energy S.A.’s October 2021 announcement that it will build the nation’s first offshore-wind blade factory at Portsmouth Marine Terminal has put Hampton Roads on a trajectory to become a supply chain hub for the country’s nascent offshore wind energy industry. The Spanish wind turbine company is investing $200 million to build the
Signs of promise
Corporate headquarters drive development
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A second year of COVID came and went, but 2021 proved more fruitful and less uncertain for businesses in Northern Virginia, where vaccination rates were the highest in the commonwealth. Work on Amazon.com Inc.’s $2.5 billion-plus HQ2 East Coast headquarters in Arlington County is forging ahead, and economic development officials say they continue to see
