Virginia Beach Business

[urbanvb]

Better exchange rate brings more Canadians south to Virginia Beach

...What made the cost of gas bearable for Bourret and other Canadian travelers has been the favorable exchange rate of their dollar, which buys more in the United States than it did a year ago. That additional buying power also has helped several of the city's vacation-oriented businesses, including Holiday Trav-L Park on General Booth Boulevard.

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[hoobo]

I'm opening a Sephora at the Strip.

[vdogg]

Virginia Beach counts 40 new businesses in past year

Virginia Beach is bragging again.

An affiliate of the city has issued its annual report for the year ending June 30, and the report is laden with triumphs, including Stihl’s $78.4 million expansion.

“At present, we find the city of Virginia Beach well positioned to move forward in achieving our shared goal to become a ‘Community for a Lifetime,” wrote the chairman of the Virginia Beach Economic Development Authority, Don Jellig, in the introduction to the authority’s annual report.

The authority said that 40 new businesses located in Virginia Beach in the past year, thanks to the city’s economic development department, which also managed to retain or capture 2,100 new jobs. This activity injected $148 million into the city’s economy.

The report lauds the public-private partnership between the city, the authority and the developers of the Town Center, a partnership between Armada Hoffler and Divaris Real Estate to create a core of offices, retail businesses and homes in the Central Business District.

Private investment exceeds public investment by four to one, the report said, and the value of real estate at the Town Center has grown by 34.2 percent.

Perhaps that 2nd office tower isn't too far off after all.

[urbanvb]

That's great news. And an increase of 34.2% for TC property isn't bad at all.

[rusthebuss]

Virginia Beach counts 40 new businesses in past year

Perhaps that 2nd office tower isn't too far off after all.

Yeah its coming to DT Norfolk

[erdogs]

Yeah its coming to DT Norfolk

[rusthebuss]

You know I had to throw that out!

[Sky06]

5 Guys Burgers and Fries has opened 3 stores in VB and Chesapeake. Voted best burgers in DC last 5 years.

[wrldcoupe4]

I think they just got best burgers in Richmond this year as well... definitely check it out. Very good IMO

[urbanvb]

Virginia Beach convention center short of cash

Virginia Beach expected to get $10 million from the state for its $207

million convention center, which is almost 80 percent complete

VIRGINIA BEACH - The city's gleaming new $207 million convention center was supposed to be built with money from local taxes and a $10 million assist from the state.

At least, that's how it was budgeted.

However, after almost five years - with nothing to show from the General Assembly but $125,000 - city officials are ready to give up on the state's contribution. That means city taxpayers and tourists could be stuck with an unexpected $9.9 million bill.

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This is ridiculous. As a homeowner and citizen who is ever paying more taxes to the city I think we deserve MUCH better.

[erdogs]

The state is screwing HR area once again. Need new representation?

[rusthebuss]

Like I have said time and time again the state cares very little for this region. Its all about Richmond and thats it. I guarantee if it was built in Richmond it wouldn't be getting shafted like this.

[hoobo]

Virginia Beach convention center short of cash

Virginia Beach expected to get $10 million from the state for its $207

million convention center, which is almost 80 percent complete

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This is ridiculous. As a homeowner and citizen who is ever paying more taxes to the city I think we deserve MUCH better.

The City is generating $15 million in Oceanfront TIF taxes to pay for this thing. So the citizens aren't funding it directly. At least that's how I understand it.

But the state's excuse that Richmond's convention center is different because state agencies use it is ridiculous. The agencies could easily use space at state owned locations such as VCU. Or they could pay a rental fee when they do use the center. To give favortism is one center and not another is a slap in the face to all Virginians. Either they look at these centers as tax generators and should fund them accordingly, or they should say they are not in the business of funding convention centers when the state underfunds museums, schools, and libraries.

[vdogg]

I saw this earlier. The reason they gave for why they would fund a convention center in Richmond and not here was the most stupid excuse i've ever heard. They need to realize that they serve and represent the entire state instead of acting as though the only things worth funding are inside the borders of the Richmond metro.

edit: Do not mistake this as a diatribe against the city itself. I'm merely expressing my frustration with the state gov't and their apparent total disregard for anything that is important to the rest of the state but not them.

[rusthebuss]

I saw this earlier. The reason they gave for why they would fund a convention center in Richmond and not here was the most stupid excuse i've ever heard. They need to realize that they serve and represent the entire state instead of acting as though the only things worth funding are inside the borders of the Richmond metro.

edit: Do not mistake this as a diatribe against the city itself. I'm merely expressing my frustration with the state gov't and their apparent total disregard for anything that is important to the rest of the state but not them.

See vdogg this is the type of things that have been happening to this metro since I was a little kid. Everyone thought that I was just trying to bash Richmond. Its a fact and here is big proof of it. Favoritism at its worse. What kills me is they suck taxes from this area and yet they don't want to return it when we need it to boost the area.

[urbanvb]

Beach agrees to buy struggling golf course

VIRGINIA BEACH - The city has agreed to buy the Tournament Players Club of Virginia Beach for roughly $4.5 million, a city official disclosed Friday.

The tentative deal caps a long effort to sell the upscale but under performing golf course.

The course opened on a former bean field in 1999 with the hope of making the city a renowned golf destination. That never happened.

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[rusthebuss]

Beach agrees to buy struggling golf course

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I think lack of good marketing and location is what is killing the golf course. The entire road is 2 lanes in front of it and its almost at the courthouse which is way out of the way. I also believe that lack of regionalism and national attention due to lack of a national recognized region. Sorry for the run-on sentence too.

[rusthebuss]

I wonder what people like us can do against the state on situations like the convention center. What can we do for them to actually treat this area fairly when it comes to funding and keeping their word. I don't understand how are reps in the state are not furious over this. Is it that we just don't have any say so in any of the states business or have they sold us out for Richmond(state before coupe gets upset )? I don't understand how they can validate spending in Richmond like its more important than any other part of the state. What I fear is that even if we clean house of our reps that our new reps will follow the same path.

[wrldcoupe4]

You need legislators from HR with the balls to make things happen. If in fact Richmond does get a disproportionate amount of funding from the state, your legislators have failed you and the rest of their constituents. The fact that HR legislators defend the $10 million for the Greater Richmond Convention Center and argue against something similar for Va Beach amazes me. Hold them accountable.

[urbanvb]

Did anyone see this article today?

Virginia Beach will see extra money again in 2008

VIRGINIA BEACH - The city's fiscal 2008 budget - in the planning stages now - is flush with $32.5 million more than expected, thanks to a higher-than-expected increase in property assessments.

In the draft budget, city staff predicted assessments would increase 13.6 percent for fiscal 2008. Instead, they are now predicted to spike more than 20 percent. That's $32.5 million of extra revenue, Hansen said.

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Is there any end to these soaring assessments?

[rusthebuss]

You need legislators from HR with the balls to make things happen. If in fact Richmond does get a disproportionate amount of funding from the state, your legislators have failed you and the rest of their constituents. The fact that HR legislators defend the $10 million for the Greater Richmond Convention Center and argue against something similar for Va Beach amazes me. Hold them accountable.

Its just not the legislators from this area but its All legislators in the state that approve money. You can't always blame the ones from here. I imagine that its just as corrupt in Richmond with incentives for legislators and such as DC. Still doesn't excuse what the state is doing to this region with disproportionate funding.

[wrldcoupe4]

You can't always blame the ones from here.

Likewise, you can't always blame everyone else. What types of incentives would you be thinking of that would sway legislators from devoting more funds to HR?

[rusthebuss]

Likewise, you can't always blame everyone else. What types of incentives would you be thinking of that would sway legislators from devoting more funds to HR?

I told eveyone this was happening and everyone thought that i was full conspiracy theories. Its just flat wrong. I need to find out more of whats going on and what money is being sent where.

[wrldcoupe4]

What types of incentives would you be thinking of that would sway legislators from devoting more funds to HR?

[rusthebuss]

Not sure but everything else people said I was full of it is coming true.