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Tempur Sealy to invest $16.7M in Scott County manufacturing facility
Expansion expected to create 25 jobs
Bedding product designer, manufacturer and distributor Tempur Sealy International Inc. will invest $16.7 million to expand its Scott County operation, creating 25 jobs, Gov. Ralph Northam announced Thursday. “Southwest Virginia has been an ideal base of operations for Tempur Sealy for nearly 20 years because of the region’s proximity to major interstates and access to
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Prince William company to expand manufacturing of COVID-19 test products
Ceres Nanosciences Inc. to create 50 jobs
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Prince William County-based Ceres Nanosciences Inc. will increase manufacturing of its reagent product used in COVID-19 tests, Gov. Ralph Northam announced Wednesday. The project will create 50 jobs in engineering, advanced manufacturing and materials science during the next three years. “This expansion will enable Ceres Nanosciences to vastly increase production of its patented technology to
SW Va. aims to attract data centers via regional tax pact
Joint effort by five localities will build on recently passed state legislation
Published
As part of an effort to entice data centers to locate in the region, Southwest Virginia leaders announced Tuesday a joint agreement to set what will be Virginia’s lowest regional property tax rate on data center equipment. The localities comprising the Lonesome Pine Regional Industrial Facilities Authority — Dickenson, Lee, Scott and Wise counties and
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Richmond council clears way for $325M VCU Health project
City to sell Public Safety Building for $3.5M
Published
Richmond City Council approved the sale of the city’s Public Safety Building on Monday, clearing the way for a $325 million VCU Health System medical office tower and multi-use project downtown. Council members unanimously approved the 3-acre property’s $3.5 million sale to Capital City Partners LLC, a collaboration between Michael Hallmark of Los Angeles-based Future
Double play
Two casinos, just miles apart, will debut in Hampton Roads
Published
Hampton Roads will be home to two Las Vegas-style casino complexes after Norfolk and Portsmouth voters overwhelmingly approved November 2020 referendums greenlighting the projects in their cities. The referendums passed with 64.4% of the vote in Norfolk and 66.7% in Portsmouth. The Pamunkey Indian Tribe is working with Tennessee billionaire Jon Yarbrough to build the
Moving forward
Tough year for some sectors, but region sees progress
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In a difficult year haunted by the coronavirus pandemic, the Central Virginia region persevered — and in some cases made economic progress. Henrico County led all other localities with a blockbuster endorsement of a $2.3 billion project, GreenCity, that would promote environmental sustainability and bring a 17,000-seat arena to the area. The 204-acre property off
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 Richmond (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
A slow climb back
Companies still investing, but jobs remain scarce
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After the pandemic hit in mid-March 2020, many industries hit pause on big decisions. But it didn’t take long for Virginia’s economic development departments to perk back up. In May 2020, Microsoft Corp. announced it would expand its presence in Reston Town Center by launching a software development and research hub, creating 1,500 jobs. And
‘As resilient as you get’
Victor Hoskins discusses regional cooperation and economic recovery
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After sealing the deal on Amazon.com Inc.’s $2.5 billion East Coast HQ2 headquarters as Arlington’s economic development director in late 2018, Victor Hoskins took his talents to the Fairfax County Economic Development Authority (FCEDA) in August 2019. But instead of competing with his Northern Virginia neighbors when he took the helm in Fairfax, Hoskins has
Richmond confirms six eligible bids for casino, seeks public input
First public meeting to discuss proposals is March 9
Published
Place your bets. Richmond Mayor Levar Stoney’s office confirmed Friday that the six casino proposals made public this week all submitted proposals that are eligible for consideration by Richmond City Council and voters. The city also revealed the proposed locations for all six plans. Bally’s Corp. and Golden Nugget Hotels & Casinos are interested in