Need to Know: Spring 2019
Summit Pointe, home of Dollar Tree’s brand new headquarters building, enters Phase II of its development. Phase II will include residential, office and retail spaces such as 133 apartment units in the Helix residential community with first floor retail and restaurant space and a 150,000 square-foot, six story office building. The third and final phase of the development project will include two more apartment complexes, a hotel and a third office building. The project had wrapped up Phase I with Dollar Tree’s new headquarters building that has the capacity for 2,300 employees.
Coastal Prosthetics and Orthotics, LLC celebrated the opening of a brand new corporate headquarters in Chesapeake in the Oakbrooke Business and Technology Center. The 7,500-square-foot, handicap-friendly facility includes six patient rooms, two gait rooms and a 1,000-square-foot lab, where prosthetic limbs and orthotic braces are fabricated. Steve Siverd and Bobby Siverd, an uncle and nephew duo who are Coastal’s leaders, chose the Oakbrooke Business and Technology Center for their headquarters because they believe it’s a peaceful, yet up-and-coming area in the local medical field.
In early May, Franklin Southampton Economic Development Inc. and the City of Franklin announced that Repair Tech plans to purchase 15 acres of property in Pretlow Industrial Park for the construction of a new headquarters facility. This is a total investment of $1,000,000 and will retain their operation in the region. Franklin City Council is scheduled to consider the purchase and sales agreement at an upcoming meeting.
The number of homes sold and the price they commanded continue to rise in Hampton, according to sales data reported by the Real Estate Information Network. Sales data from March 2019 show 209 settled sales, up 31 percent from the same month last year. The median sales price was $178,500, an increase of 11.6% from the previous year.
Construction is now underway for the new Rosie's Gaming Emporium for Colonial Downs horse race betting in Hampton. Rosie's is a $40 million gambling venue, a restaurant and an attraction in itself — with 700 historical horse racing games. Rosie's will be owned and operated by the Colonial Downs Group, and inhabit the former NASCAR Sports Grille and Luckie's Dueling Pianos spaces in the Power Plant of Hampton Roads Entertainment District. Rosie's is the first to bring this type of gambling to Virginia.
ISLE OF WIGHT
Isle of Wight County Economic Development released its 2018 Annual Report which celebrates calendar year development activity. The report also highlights business attraction and retention efforts, the impact of the Port of Virginia, target industry sector outreach, community roots/quality of life, and statistics and demographics. One impressive note in this year's report is that the County saw an uptick of 60 in new business licenses for FY 2018, a 24% increase over FY2017.
Medical device manufacturer IvWatch recently reported that it reached about 77% of its $16 million funding goal, raising $12.3 million. The company also announced the execution of a seven-year lease for 25,500 square feet in the nearly-completed Building One @ Tech Center in Newport News. IvWatch’s primary product detects leaks outside of the vein during intravenous therapy.
Liebherr USA Co., a manufacturer of construction and mining equipment, and a division of the Liebherr Group, recently celebrated the installation of the final structural steel, a milestone in the construction of its new headquarters administration building on Chestnut Avenue in Newport News. The $45 million, 251,000 square-foot expansion project also includes an additional workshop as well as warehouse space to accommodate the company’s growth.
Construction on Ferguson Enterprises’ third headquarters (“HQ3”) is well underway. The 260,000 square-foot, eight-story building broke ground in June 2018 and represents an $83 million investment. The campus will house 1,600 employees working in a variety of corporate functions including Marketing and Communications, National Sales, eBusiness, Human Resources, Information Technology and Security.
City of Newport News Development staff and its partners recently experienced the unique opportunity to facilitate a series of meetings for a group of government executives from Ghana. The group’s mission was to learn about the City, as well as opportunities in the agriculture, tourism and education sectors. Development staff partnered with Newport News Public Schools, the Hampton Roads Economic Development Alliance, and the Virginia Port Authority to give overview presentations on the local economy, trade and education system. The Ghanaian officials offered a briefing of their economy and the desire for growth.
After a year long hiatus from porting at the Half Moone Cruise Center in Norfolk, Carnival Cruise Lines brought cruises back to Hampton Roads for departures out of Norfolk. The Carnival Sunrise departed out of the cruise center late April and again in early May for the first time since 2017.
At his April 19th State of the City address, Norfolk Mayor Kenny Alexander announced a new small business grant and loan program aimed to assist the entrepreneurs and innovators that are traditionally excluded from funding opportunities. The city's department of economic development is excited about the creation of the Capital Access Program — an initiative to help small and growing businesses get grants and loan funding through federal and local programs. Businesses can apply for up to $10,000 in small business grants and $50,000 in federally backed loans.
In an effort to decrease their city's carbon footprint and protect local waterways, beaches and wildlife, more than a dozen Poquoson restaurants teamed up with askHRGreen, KeepItBeachyClean.org, and other localities to make Earth Day "Straw Free." This initiative lasted throughout the entire weekend in an effort to reduce some of the consequences of litter on the local environment, as plastic straws are one of the most common items found soiling outdoor spaces.
Governor Northam announced a $60 million investment in the City of Portsmouth. Preferred Freezer Services, one of the largest public refrigerated warehousing companies in the world, will construct a 200,000-square-foot cold storage warehouse. Read the full press release here.
Members of the Portsmouth City Council, city officials and staff hosted a grand opening ceremony for Safe Harbor Recovery Center on March 22. The Safe Harbor Recovery Center serves men and women who have been diagnosed with substance use disorders. According to the National Survey on Drug Use and Health, approximately 21.5 million American adults (aged 12 and older) battled substance use disorder in 2014. The Safe Harbor Recovery Center’s clinical staff and other professionals recognize the basis for substance use disorders and believe in providing compassionate care without judgment. They are committed to helping their clients find a foundation for lasting recovery and tailor specific treatments to meet the needs of each individual.
Belmont Peanuts broke ground on their newest facility, located in Southampton County. Belmont Peanut originally announced this expansion in September 2018. They will invest over $2.5 million to build a new peanut processing, warehousing, and retail facility prominently located along Highway 58. As a result of this expansion, Belmont Peanuts will create 15 new jobs, grow their purchases of Virginia-grown peanuts by 30 percent and create a new tourism destination for Southampton County.
Moonlight Welding is celebrating the opening of their first stand-alone commercial enterprise located in Suffolk and hosted a grand opening and ribbon cutting with Vice Mayor Leroy Bennett on May 4. Moonlight Welding’s skilled craftsmen provide MIG, TIG and STICK welding services to both residential and commercial clients. They offer a mobile service or work can be done in the welding shop. The company was founded in 1999 and operated as a home-based business until the move to the commercial operation this year.
Sysco and the Career and Technical Education Department from Suffolk Public Schools have teamed up for a 2nd school-to-work partnership that provides students with opportunities for career paths in logistics as well as connecting the importance of workplace readiness skills to long-term professional success. Suffolk Public Schools recently partnered with the Target Upstream Distribution Center to launch the program. Sysco operates in over 285,000 SF of space in Suffolk, and sees this new exciting partnership as another way to connect with the community as well as a way to develop a pipeline for future employees. This school-to-work program will collaborate specifically with career and technical education students at Suffolk’s Nansemond River High School and incorporate the Commonwealth‘s Career Readiness Initiative principles. A select group of students, aged 17-18, will participate in the program which will feature three separate classes and include a tour of the Sysco facility.
Developer PointOne Development Corporation broke ground on a new $80 million data facility in Virginia Beach in early May. The facility will contain two 31,000 square feet data center spaces, including a multi-purpose cable landing station and “edge” computing data center facility. This state-of-the-art data center will help Virginia Beach grow into a world-class data hub. Virginia Beach Mayor Bobby Dyer said the new data center diversifies the Virginia Beach economy by extending beyond the military and tourism industries.
Virginia Beach Economic Development, in collaboration with 1701 Coworking, selected the next two participants for its Entrepreneur-in-Residence: Jimmy and Mary's Authentic Body Care and Vigilant.
• Jimmy and Mary's Authentic Body Care is a small Virginia Beach business specializing in creating authentic and cost-effective body care products for men and women. The company is currently offering its handcrafted products at four Wholefoods markets in Virginia and looking toward broadening its reach nationally.
• Vigilant is a branding and design studio which started its business by acquiring a contact with the City of Virginia Beach. Since then, the company has accumulated a few other accounts while simultaneously learning how to run a business. Vigilant strives to create powerful visual story-telling that helps bring brands to life and connect them with their audience. Through this mentorship the company hopes to find strategic guidance on how to expand its business.