Richmond: Economy/Business/Real Estate

[I miss RVA]

Well THIS isn't good! Snagajob just laid off something like 40 employees from their Innsbrook offices. Future looking kinda uncertain for these folks.

From today's Richmond BizSense:

https://richmondbizsense.com/2022/08/31/snagajob-lays-off-dozens-in-richmond/

[Child2021]

U.S. Department of Commerce invests approximately $52.9 million to boost Virginia's pharmaceutical industry through American Rescue Plan Regional Challenge | Greater Richmond Partnership | Virginia | USA (grpva.com)
I image this is particularly good. 

[I miss RVA]

2 hours ago, Child2021 said:

U.S. Department of Commerce invests approximately $52.9 million to boost Virginia's pharmaceutical industry through American Rescue Plan Regional Challenge | Greater Richmond Partnership | Virginia | USA (grpva.com)
I image this is particularly good. 

REALLY good find, @Child2021 !  An interesting and important takeaway from the GRP press release:

"With $52.9 million in funding from EDA, the Advanced Pharmaceutical Manufacturing (APM) Cluster will expand the domestic supply chain for essential medicines and critical active pharmaceutical ingredients (APIs). The projects funded as part of this award include expanding a nascent pharmaceutical manufacturing corridor in Central Virginia through investment in new wet lab space, development of critical infrastructure to sustain industrial capacity in Petersburg, and engagement with local business to enhance the regional pharmaceutical supply chain. The project will also catalyze a new partnership between Virginia Commonwealth University and Virginia State University to create new pathways for underserved residents to high-quality training and jobs in the pharmaceutical industry."

This will be especially beneficial to Petersburg, which needs this kind of push forward to get her moving. I'm thrilled that VSU and VCU will be tag-teaming this -- and doing so to the specific benefit of Petersburg, as well as the entire metro. Unfortunately, the Tri Cities are the oft-forgotten part of the RVA metro that gets overlooked and bypassed. Having a strong economy in the Tri Cities is a hugely important part to the overall health and vitality of the greater metro RVA economy as a whole. I can't emphasize enough just how critically important this is.

Good news all the way around!

[I miss RVA]

I figured this story fits better here than merely in the suburban thread given that it's another example of an opening of a "first such location in Virginia" happening in metro Richmond.

Humana is opening a new kind of primary care facility "CenterWell Senior Primary Care" in eastern Henrico on S. Laburnum Avenue. This clinic will be the first of six to open in the Commonwealth - of which three will be in metro Richmond and three will be located in Hampton Roads. Glad to see this new facility coming to the eastern part of the metro - and very glad to see RVA, once again, being FIRST to land a new business/business concept seeking entry into Virginia.

https://richmondbizsense.com/2022/09/12/insurance-giant-humana-to-bring-new-primary-care-concept-to-henrico/

 

[Downtowner]

https://www.valdostadailytimes.com/ap/business/plenty-building-world-s-largest-indoor-vertical-farm-campus/article_6ea0f258-c663-5235-859a-49b0a7a9088e.html
 

 

300 more jobs coming to meadowville tech park from San Francisco based farm plenty unlimited. The worlds largest vertical farm to grow Driscoll strawberries 

[I miss RVA]

5 hours ago, Downtowner said:

https://www.valdostadailytimes.com/ap/business/plenty-building-world-s-largest-indoor-vertical-farm-campus/article_6ea0f258-c663-5235-859a-49b0a7a9088e.html
 

 

300 more jobs coming to meadowville tech park from San Francisco based farm plenty unlimited. The worlds largest vertical farm to grow Driscoll strawberries 

This is yet another big win for metro Richmond! Just amazing how these kinds of wins have suddenly started coming one after the other after the other. Fantastic trend that has started - we just have to keep the wins coming!

Here's the Times-Dispatch's reporting on the story:

https://richmond.com/news/state-and-regional/govt-and-politics/california-firm-says-it-will-build-worlds-largest-vertical-farm-in-chesterfield/article_c2414574-2d36-594c-ad2d-03a3e2c4c6e8.html#tracking-source=home-top-story

[Brent114]

That is amazballs! 

[Hike]

1 hour ago, Brent114 said:

That is amazballs! 

My sources tell me that these vertical plants are going to lead to a pot of gold, Jack.

[I miss RVA]

25 minutes ago, Hike said:

My sources tell me that these vertical plants are going to lead to a pot of gold, Jack.

Really? Care to share?

[eandslee]

6 hours ago, I miss RVA said:

This is yet another big win for metro Richmond! Just amazing how these kinds of wins have suddenly started coming one after the other after the other. Fantastic trend that has started - we just have to keep the wins coming!

Here's the Times-Dispatch's reporting on the story:

https://richmond.com/news/state-and-regional/govt-and-politics/california-firm-says-it-will-build-worlds-largest-vertical-farm-in-chesterfield/article_c2414574-2d36-594c-ad2d-03a3e2c4c6e8.html#tracking-source=home-top-story

So Raleigh lands Apple, Richmond lands a farm that grows apples…or strawberries (agriculture). You tell me which metro is more technologically advanced. 

[I miss RVA]

2 hours ago, eandslee said:

So Raleigh lands Apple, Richmond lands a farm that grows apples…or strawberries (agriculture). You tell me which metro is more technologically advanced. 

Hey - it's a - y'know... growth industry. We just have to wait for it to really ripen before we see the sweet benefits. 

[eandslee]

I have to say though, Meadowville Technology Park has seen a lot of action lately and is filling up fast!

https://richmondbizsense.com/2022/09/15/west-coast-company-plans-to-build-300m-indoor-farming-complex-at-meadowville-technology-park/

Edited September 15, 2022 by eandslee

[Hike]

9 hours ago, I miss RVA said:

Really? Care to share?

Was trying to be funny but if I have to explain the punch line then it didn’t work. Vertical plants,  that are being grown, made me think of bean stalks, Jack climbed the bean stalk to get his pot of gold, anyway, I’ll see myself out.

https://en.m.wikipedia.org/wiki/Jack_and_the_Beanstalk

Edited September 15, 2022 by Hike
Added link for story research

[Brent114]

11 hours ago, eandslee said:

So Raleigh lands Apple, Richmond lands a farm that grows apples…or strawberries (agriculture). You tell me which metro is more technologically advanced. 

Short term Apple would  be more exciting…. but growing food is far more important and unlike Apple, slave labor won’t be making (growing) the product (with regards to Apple most products are redundant, unnecessary  and only for white middle class folk).   So Richmond is more hip and progressive and futuristic  

[I miss RVA]

5 hours ago, Hike said:

Was trying to be funny but if I have to explain the punch line then it didn’t work. Vertical plants,  that are being grown, made me think of bean stalks, Jack climbed the bean stalk to get his pot of gold, anyway, I’ll see myself out.

https://en.m.wikipedia.org/wiki/Jack_and_the_Beanstalk

LOVE IT!!  Damn - I was being wayyyyy too technical - I thought maybe you had some inside industry info. 

[Downtowner]

lutron brings 200 jobs to Hanover.

https://www.governor.virginia.gov/newsroom/news-releases/2022/september/name-939800-en.html
 

yall need to start checking governor Youngkin website. I check it like rbs now for new jobs coming to the Richmond metro area.

[I miss RVA]

51 minutes ago, Downtowner said:

lutron brings 200 jobs to Hanover.

https://www.governor.virginia.gov/newsroom/news-releases/2022/september/name-939800-en.html
 

yall need to start checking governor Youngkin website. I check it like rbs now for new jobs coming to the Richmond metro area.

Wow - the jobs just keep rolling in. This is fantastic - gotta keep RVA on this roll!

[Downtowner]

8 minutes ago, I miss RVA said:

Wow - the jobs just keep rolling in. This is fantastic - gotta keep RVA on this roll!

Im not sure how to post it but he was on bloombergbusiness and mentioned the jobs coming into Richmond and gave a shout out to the Richmond metro area. Very nice to see someone at least start to put the Richmond metro on the map

[I miss RVA]

4 minutes ago, Downtowner said:

Im not sure how to post it but he was on bloombergbusiness and mentioned the jobs coming into Richmond and gave a shout out to the Richmond metro area. Very nice to see someone at least start to put the Richmond metro on the map

That's something that needs to keep happening - giving voice and name-recognition to "Richmond" on the national stage.

[I miss RVA]

GREAT article in today's Richmond BizSense demonstrating how RVA is absolutely getting on people's radar screens as an up-and-coming city/metro. A major national CRE firm is entering the Richmond market and looking to develop projects here now. To me this is HUGE. A couple noteworthy snippets from the RBS article:

As Lee’s D.C. office has grown since launching in 2019, Simon said Richmond gradually stood out as a place poised for growth, prompting the firm to expand into the region.

“What we’re seeing is this capital demand pushing further south into other areas like Richmond, Raleigh and Charlotte and other places,” Simon said. “There’s this gap in between (Charlotte and D.C.). We really see Richmond as an area that’s obviously continuing to grow, and we’re going to see more migration from down here for years.”

The firm’s clients had also taken notice of Richmond.

“It was our own clients saying to us, ‘Hey Josh, hey John, find us opportunities in Richmond and the surrounding area for land development, building repurposing or just investment deals,’” Simon said. “It was a function of our clients telling us, ‘We want to break into that area.’”

https://richmondbizsense.com/2022/09/18/national-commercial-real-estate-firm-lee-associates-begins-building-richmond-presence/

[eandslee]

Below is GRP’s major accomplishments over the past year or so and the impact it has made to bringing new companies or helping existing expanding companies in RVA.  Top on the list are CoStar’s planned expansion in downtown Richmond (~$460M investment/new 26-story tower) and landing the $2B+ Lego manufacturing facility to Meadowville Technology Park in east Chesterfield.  Led by Jennifer Wakefield (who “gets” what RVA needs to do to attract businesses to the metro area), I’m excited to see what other “big fish” GRP will reel into RVA over this next year!  Don’t stop…keep this train rolling…in fact, step on the gas!!!

https://www.grpva.com/wp-content/uploads/2022/09/GRP_AnnualReport_2022.pdf?utm_content=221794912&utm_medium=social&utm_source=twitter&hss_channel=tw-59870874

Edited September 20, 2022 by eandslee

[123fakestreet]

47 minutes ago, eandslee said:

Below is GRP’s major accomplishments over the past year or so and the impact it has made to bringing new companies or helping existing expanding companies in RVA.  Top on the list are CoStar’s planned expansion in downtown Richmond (~$460M investment/new 26-story tower) and landing the $2B+ Lego manufacturing facility to Meadowville Technology Park in east Chesterfield.  Led by Jennifer Wakefield (who “gets” what RVA needs to do to attract businesses to the metro area), I’m excited to see what other “big fish” GRP will reel into RVA over this next year!  Don’t stop…keep this train rolling…in fact, step on the gas!!!

https://www.grpva.com/wp-content/uploads/2022/09/GRP_AnnualReport_2022.pdf?utm_content=221794912&utm_medium=social&utm_source=twitter&hss_channel=tw-59870874

Richmond was doing OK on it's own, now for the first time we have the city and public interest groups coordinating in an actual marketing campaign to bring in new businesses.  Hopefully we get some great results. 

Success also begets success, lots of NOVA people moving down here for better quality of life and working remote. Well once they are here businesses will see the talent pool in RVA and be more willing to relocate here because of it.

[I miss RVA]

1 hour ago, eandslee said:

Below is GRP’s major accomplishments over the past year or so and the impact it has made to bringing new companies or helping existing expanding companies in RVA.  Top on the list are CoStar’s planned expansion in downtown Richmond (~$460M investment/new 26-story tower) and landing the $2B+ Lego manufacturing facility to Meadowville Technology Park in east Chesterfield.  Led by Jennifer Wakefield (who “gets” what RVA needs to do to attract businesses to the metro area), I’m excited to see what other “big fish” GRP will reel into RVA over this next year!  Don’t stop…keep this train rolling…in fact, step on the gas!!!

https://www.grpva.com/wp-content/uploads/2022/09/GRP_AnnualReport_2022.pdf?utm_content=221794912&utm_medium=social&utm_source=twitter&hss_channel=tw-59870874

Tremendous successes the last two years. Indeed - we need to keep feet on the gas - and while we're at it, light the damn afterburners!! Get this rocket off the launch pad and reach for the stars.

@123fakestreet-- having a coordinated effort directed by a specific business-focuses organization like the GRP is a HUGE plus - something that RVA city and metro sorely lacked for DECADES. I'm super excited by what they've done so far and, as you said, success begets success. I think we can tie today's announcement of the gorgeous Hourigan residential tower on the Manchester riverfront -- even if only indirectly -- to the fruit that is coming from the efforts of the GRP.  We still have - to quote Phil Collins - "a long long way to go" - but wow - it's starting to feel like we've turned a big corner and are really rolling full-speed ahead. I can't wait to see how this will shake out for RVA (city and metro) over the next 5, 10, 15, 20 years.

[I miss RVA]

Another out-of-town entry into the RVA market = another win for Richmond. NOVA-based architecture firm is setting up shop with a Richmond office and they're locating in Scott's Addition.

From today's Richmond BizSense:

https://richmondbizsense.com/2022/09/27/nova-architecture-firm-makes-move-into-richmond/

[rjp212]

Dwell does a lot of multi-family projects, so hopefully that will lead to some new projects in town. 

https://www.dwelldesignstudio.com/projects