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A fair trade?
U.S.-China tensions still impact Va. economy
While President Joe Biden will likely strike a more diplomatic tone with China than his predecessor, economists and other observers believe the United States’ rocky trade relationship with its biggest economic rival will remain contentious — which will impact Virginia’s economy. Under former President Donald Trump, the U.S. and China were immersed in a grueling
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Making it rain
Increased e-commerce fuels wave of distribution centers
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For Hanover County Economic Development Director Linwood Thomas, things couldn’t get much better. “It’s really been a perfect storm,” Thomas says. That storm — the good type — is a deluge of distribution centers and warehouses that have opened recently or are currently in the pipeline for the county of about 108,000 residents, located about
The largest yard
Newport News Shipyard steams ‘full speed ahead’
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In a year when the world stood still, forcing businesses to adjust, the shipbuilding industry in Hampton Roads was told from the start to keep working. In early spring 2020, as the COVID-19 pandemic raised the question of who qualified as “essential personnel,” the U.S. Navy made one thing clear — that designation definitely included
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The Port of Virginia
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By 2024, the Port of Virginia expects to be the deepest port on the East Coast at 55 feet, with room for two-way traffic for some of the world’s largest vessels. The port has six terminals and has invested more than $1 billion in infrastructure since 2015, producing 390,000 port-related jobs across the state, $23
Maritime Guide 2020
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Welcome to the Virginia Maritime Guide 2020! Below is a table of contents to direct you to all articles that appear in the guide. On deck — With the Navy rebuilding its fleet, maritime industry is hiring thousands Executive profiles — We asked leaders in Virginia’s maritime and logistics industry for their thoughts on the
Viral load
Port feels effect of coronavirus early but remains busy
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Like a canary in a coal mine, the Port of Virginia felt the impact of COVID-19 well before others in Virginia started to feel it. In February, the port saw a 9% drop in cargo compared with February 2019, a decrease attributed in part to the outbreak’s origins in China. In 2018, China was the
Executive profiles
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We asked leaders in Virginia’s maritime and logistics industry for their thoughts on the Port of Virginia expansion and the impact of the COVID-19 pandemic on shipping. Click to expand photos. Interviews follow. VB: How will the Port of Virginia expansion impact Virginia’s economy? Adams: The Central Chapter encompasses the area around Richmond and is
In the big leagues
Port’s expansion projects put state in a leading position
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Virginia is strengthening its claim as a leading port on the East Coast. The Port of Virginia is midway through a $700 million project to expand its two largest terminals, which will allow the port to handle an additional 1 million container units per year. The $320 million expansion of Virginia International Gateway in
Inland empire
Ports in Richmond, Front Royal receive upgrades
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The Port of Virginia is investing in its two inland ports to boost capacity and maintain efficiency while handling greater volume from its Hampton Roads terminals. A record 2.93 million 20-foot equivalent units, or TEUs, passed through the Port of Virginia system in 2019, a 3% increase over 2018. “As we expand our primary terminals
Offshore windfall
Hampton Roads will be East Coast center for wind energy
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Two massive wind turbines are scheduled to begin spinning off the coast of Virginia Beach by the end of 2020, providing electricity to 3,000 homes and paving the way for Dominion Energy Inc. to build the nation’s largest offshore wind farm. And even amid the coronavirus outbreak, plans are still proceeding on course, says