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Can Southwest Virginia win the data center game?
Like many other parts of the commonwealth, Southwest Virginia is making a play to attract data centers, offering cheap land, available workers and a natural cooling system. Data centers aren’t huge employers but do offer high wages and significant tax revenue — which other regions in Virginia have taken full advantage of, particularly Loudoun County in
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Appalachian Power denied rate increase by SCC
Customers are not due refunds
Published
A rate increase sought by Appalachian Power Co. has been denied by the State Corporation Commission. According to a statement issued by the SCC on Tuesday, Appalachian Power was seeking to increase rates by approximately $10 per month for a typical residential customer using 1,000 kilowatt hours of electricity. Appalachian Power earned profits that were
Vinton, Warsaw, Wytheville receive industrial revitalization funding
Northam announces $1.4 million in funding for three projects
Published
The towns of Vinton, Warsaw and Wytheville will receive a total of more than $1.4 million in state industrial revitalization fund (IRF) grants, Gov. Ralph Northam announced Friday. IRF funding provides gap financing for redevelopment projects that can lead to long-term employment opportunities. “This funding will not only help transform deteriorating or unused structures, it
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Va. Coalfield Economic Development Authority establishes $1M Renewable Energy Fund
Funding to assist renewable energy projects, component manufacturing
Published
The Virginia Coalfield Economic Development Authority (VCEDA) announced Thursday it has established a $1 million Renewable Energy Fund from coal tax credit funds. “With the establishment of the Renewable Energy Fund, VCEDA is poised to readily assist in the development of renewable energy projects, which will add new jobs and investment to the region and
Report: Half of SWVA households earned less than basic living cost in 2018
United Ways of Virginia study says income inequality is increasing in state.
Published
More than 50% of Southwest Virginia households in 2018 lived in poverty or earned less than the basic cost of living, according to a report released Thursday by the United Ways of Virginia. Using the “ALICE” acronym — asset-limited, income-constrained and employed — the United Ways of Virginia reported that 51% of Southwest households were
Abingdon investment advisory firm names chief investment officer
Mitch York joins Concord Asset Management
Published
Investment adviser Concord Asset Management, a division of Abingdon-based Concord Wealth Partners, announced Monday it has hired Mitch York as its inaugural chief investment officer. York was most recently the manager of portfolios and investment with Fairfax-based Edelman Financial Services, where he managed a $24 billion investment program. In his new role, he will oversee
Commercial real estate lease roundup
Leasing announcements from around Virginia for Oct. 30 to Nov. 13
Published
Northern Virginia L3Harris Technologies Inc. renewed its lease of 6,357 square feet of office space at 17021 Combs Drive in King George County. Chris Russotti and Jamie A. Scully of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord. Floors by Design leased 9,900 square feet of industrial space at
SWVA guardrail manufacturer announces $7.9M expansion
SPIG Industries to hire 113 welders, machinists
Published
Nine months of hard work has paid off. Since February, InvestSWVA has been working with highway guardrail manufacturer SPIG Industry LLC on its expansion plans, and on Thursday Gov. Ralph Northam announced the Washington County-based company’s plans to invest $7.9 million to expand its operations in the Bristol-Washington Industrial Park, creating 113 jobs. Formed in
Virginia is ‘ready’ to distribute COVID-19 vaccine, governor says
Health commissioner anticipates an approved vaccine by end of year
Published
Gov. Ralph Northam and State Health Commissioner Dr. Norman Oliver said Tuesday that Virginia will be ready to launch a vaccination program as soon as a COVID-19 vaccine has been approved by the U.S. Food and Drug Administration. Oliver said that he is encouraged by Pfizer’s announcement this week that its COVID vaccine under testing
Tazewell County directs $363K in CARES funding to Carilion Clinic
Funds will be used to expand telemedicine, COVID-19 testing
Published
As Southwest Virginia continues to see a spike in COVID-19 cases, the Tazewell County Board of Supervisors announced Tuesday it is allocating $363,000 in federal CARES Act funding to Roanoke-based Carilion Clinic to be used to expand telemedicine and COVID-19 testing, as well as to improve access to primary care and specialty care services. “The