Need to Know: Economic Development Around Hampton Roads
It's been a busy summer across the region. Here’s a recap of some of the Hampton Roads’ developments seen throughout our eleven localities this year. The hard work and consistent efforts of our individual localities’ economic development offices are key factors in the success of our regional economy and we congratulate them on their recent announcements and expansions.
Port of Virginia
A $217 million investment supporting the $695 million expansion projects at Virginia International Gateway and Norfolk International Terminals will result in 86 cranes to be delivered from Poland by 2020. Twelve cranes have already arrived in January 2018.
Sentara Healthcare broke ground in March 2018 on a 230,000 square-foot, $93.5 million construction project on the campus of Sentara Leigh Hospital which will be completed in 2020. In addition, a 60,000 square-foot regional Musculoskeletal and Sports Medicine Center will open in fall 2019.
Newport News Shipbuilding announced plans to create 2,000 net new jobs over the next five years. Secretary of Commerce and Trade, Brian Ball, will lead a new partnership with the shipyard to aid in the hiring initiative. It will focus on promoting opportunities at the company via state agencies that deal with employment, veterans, community colleges and economic development.
Ferguson broke ground on its third Newport News Headquarter building. The 260,000 square-foot City Center campus represents an investment of $82.8 million and will house about 1,600 workers from human resources, marketing, e-commerce, information technology as well as its national sales center.
Liebherr announced plans to invest $45 million to expand its facilities to more than 800,000 square-feet. Construction on the facility in Copeland Industrial Park is expected to begin this summer with a 61,600 square-foot headquarters and administration building. This expansion is expected to create at least 25 local jobs.
In June, Fairlead Boatworks, a premier East Coast marine repair facility and a marine services division of Fairlead Integrated, broke ground on a major expansion to its current operations in Newport News’ Seafood Industrial Park, originally announced in March. The company offers drydock and dockside repair and fabrication services for commercial and government vessels. The company’s $5 million investment will result in a significant and immediate increase in the size and scope of work that will be done.
Blue Bell Ice Cream announced a new distribution facility to be completed in 2019. The 14,000 square-foot facility in Northgate Commerce Park will include cold storage space with loading docks, fleet parking and administrative offices and will serve communities within a 70-mile radius.
Governor Ralph Northam announced that more than $17 million will be invested in Hampton to establish the new Element Hotel at Peninsula Town Center, which will create 22 jobs, and spur an economic impact of more than $2 million annually in traveler spending.
ACA International, LLC, which recently announced the relocation of its corporate headquarters to Virginia Beach, has announced a partnership with South Atlantic Express International Ltd. (SAEx) to land the third high speed subsea cable in Virginia Beach. The South Atlantic Express follows the landing of the MAREA and BRUSA undersea cables in Virginia Beach, and could bring at least 200 high-tech jobs to the region.
Coastal Prosthetics & Orthotics, LLC held a groundbreaking ceremony on its new Oakbrooke Business and Technology Center location on Friday, April 20, 2018. The 2.1 acre site will house Coastal’s new 7,600 square-foot medical office building and molding fabrication division. Coastal provides custom-made prosthetics and orthotics for patients throughout the Hampton Roads area, local hospitals, and nursing homes.
Construction on Dollar Tree’s headquarters is expected to wrap up this summer. The new 12-story, 320,000 square-foot tower is the tallest building in Chesapeake and will satisfy the company’s need for office space for the next eight to ten years. A second phase of construction will include at least 600 living units, more than 100,000 square-feet of retail and restaurant space, at least 100,000 square-feet of office space and a boutique hotel. Phase two will start later this year. This expansion represents a $300 million investment.