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Microsoft to invest $64M in Fairfax County expansion, create 1,500 jobs
Company expects Reston Town Center project to be ready in 2021.
Microsoft Corp. will invest $64 million to expand its presence in Reston Town Center in western Fairfax County, creating 1,500 jobs, Gov. Ralph Northam announced Wednesday. The software giant will occupy 400,000 square feet in the Reston Town Center, which will include a software development and research hub, as well as retail space. The project
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Loudoun County adds $5.7M to small business relief fund
Businesses will receive between $5K and $7.5K in funding
Published
The Loudoun County Board of Supervisors approved an additional $5.7 million in grant funding for a second and third round of its COVID-19 Business Interruption Fund, which supports small businesses affected by the pandemic. The funding was allocated from the $36.1 million in federal funding to Loudoun County from the Coronavirus Aid, Relief and Economic
Va. Beach defense contractor to create 100 jobs
Valkyrie Enterprises Inc. will also be moving into larger headquarters
Published
Virginia Beach-based defense contractor Valkyrie Enterprises Inc. announced Friday it has received a $125,000 grant from the Virginia Beach Development Authority (VBDA) to aid in its planned expansion by 100 full-time jobs during the next three years. “Valkyrie Enterprises epitomizes the real value of these grants,” Economic Development Director Taylor Adams said in a statement.
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It may take years for economy to recover, construction economist says
Retail sales, hotel and income tax revenue declines part of the problem
Published
Associated Builders and Contractors Chief Economist Anirban Basu said that it will likely take years for the nation’s economy to recover from the COVID-19 pandemic’s blow. “One of the reasons for this is that state and local government budgets are now under severe pressure. With retail sales, hotel and income tax revenues declining, many state
Greater Washington Partnership names CEO
JB Holston will take the helm in September.
Published
The Greater Washington Partnership (GWP) announced Wednesday that JB Holston will become the organization’s CEO in September. Founded in 2017, GWP is an alliance of 27 CEOs and business leaders in the region that focuses on economic development for the greater Washington region, including parts of Northern Virginia, Richmond and Baltimore. Holston succeeds the organization’s
D.C./Va./Md. COVID-19 task force forms for economic strategy
Connected DMV's 45-person task force will make formal recommendations for economic recovery
Published
Connected DMV, a regional nonprofit collaboration in Northern Virginia, Washington D.C. and Maryland, announced Thursday it has formed a 45-person COVID-19 Strategic Renewal Task Force to make formal recommendations for addressing short-term and long-term COVID-19-related economic recovery. Founded in 2019, Connected DMV focuses on economic development in Virginia, Washington, D.C., and Maryland. The task force
Floyd County EDA receives $2.3M federal grant for growth center
The building will be used for new businesses to grow and for existing businesses to remain operational during natural disasters.
Published
The Floyd County Economic Development Authority announced this week it has received a $2.3 million grant from the U.S. Economic Development Administration to construct the first building for the Floyd Growth Center, a shared space in the Floyd Regional Commerce Center for small industrial companies. Different from a small business incubator, the center will allow
Plastics company plans 200 jobs, $34M investment in Pittsylvania
Manufacturing plant will be on former site of Burlington Industries in town of Hurt
Published
An Ohio-based plastics company is planning to invest $34 million in a new plant in Pittsylvania County, a project expected to bring 200 manufacturing jobs to the region over the next four years, local officials announced Friday. The 250,000-square-foot plant will be built on the former site of Burlington Industries in the Southern Virginia Multimodal
Developers propose $350M tower to replace Richmond Public Safety Building
Capital City Partners worked on $1.5B Navy Hill development, spiked in February
Published
The development team that created plans for the failed $1.5 billion Navy Hill proposal in downtown Richmond has returned to the scene, this time with a lower-stakes proposal that would not require funding by the city, a sticking point in the earlier plan. Capital City Partners LLC, the partnership between Michael Hallmark of Los Angeles-based
Greater Richmond Partnership hires VP of business development
Audrey Polk was most recently the existing business representative at the Henrico Economic Development Authority.
Published
Regional economic development organization The Greater Richmond Partnership Inc. (GRP) announced Tuesday it has hired Audrey Polk as its vice president of business development. Polk most recently worked as the existing business representative at the Henrico Economic Development Authority. Before that, she was a research analyst for the Virginia Economic Development Partnership. She earned her