Jump to content

Richmond: Economy/Business/Real Estate


Recommended Posts


  • Replies 2.3k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Like many on this board, I would love to see Richmond throw up some 600' buildings; however, a shorter but dense urban core makes for a better city than a few sparkling, disconnected high rises and a

I am a Charlotte native and current resident but I did live in Fairfax County for 10 years in the early 80s.  I am very familar with how the rest of the state hated Northern VA then and probably still

Good news when a Company relocates here.   Ireland-based company plans on opening their North American Headquarters here and hiring up to 100 employees. https://www.richmond.com/business/ireland-

Posted Images

Here's a mix of good and bad for Richmond's business community. Saxon/Capital (merged recently with Morgan Stanley) is shipping off 90 big jobs to Fort Worth, but on the flip side, it has plans to perhaps triple its sales staff in Richmond. From today's inRich.com.

http://www.timesdispatch.com/cva/ric/news....06-19-0026.html

Edited by burt
Link to post
Share on other sites

According to Michael Martz in today's inRich, The Mayor and City Council have come to agreement on plans to alleviate debt loads for low-income and disabled homeowners. I think Martz means that a way has been found to do this "by using $1.3 million that the council had put into a reserve fund in the budget that begins on July 1" rather than the Mayor cutting funding for Greater Richmond Partnership and trimming elsewhere.

http://www.timesdispatch.com/cva/ric/news....06-20-0174.html

Link to post
Share on other sites

Big news for Richmond!!!

Philip Morris Adding Hundreds of Jobs Locally; N.C. Plant to Close

The company said it will consolidate domestic cigarette manufacturing in Richmond by closing its manufacturing facility in Cabarrus County, N.C., by the end of 2010.

The Cabarrus facility currently employs about 2,500 people, but it was not immediately certain how many of those jobs would wind up in Richmond.

The company said most North Carolina-based hourly employees and many salaried employees will be offered positions in Richmond. Others will be eligible for between three and 20 months of severance pay and benefits, depending on length of service, plus outplacement counseling.

In Richmond, officials quickly shifted into preparation mode to accommodate the influx of North Carolina workers.

"The impact on the regional economy will be significant," said James W. Dunn, chairman of the Greater Richmond Chamber.

I heard on NBC12 news at 6 that the average salary of the workers being moved to Richmond breaks down to $29.00 an hour or about $60,000 a year.

Also, HCA is adding 120 jobs at their offices in the Boulders.

:yahoo:

Edited by wrldcoupe4
Link to post
Share on other sites

Check out this great story from yesterday's inRich about Main Street Station conversion to office space on several levels. And be sure to see the slide show.

http://www.timesdispatch.com/cva/ric/news/...06-22-0216.html

Wow, That slideshow was amazing. I worked on the renovation of Main st station, and when we finished the job, the 3rd, 4th, and 5th floors were left pretty much unfinished, for future tennant space. They made awesome use of the mezzanine area, when we left, it was just a big hole in the floor that looked down to below. I wish I still had all my pictures from that job, but they were all lost on my old pc.

Link to post
Share on other sites

Big news for Richmond!!!

Philip Morris Adding Hundreds of Jobs Locally; N.C. Plant to Close

I heard on NBC12 news at 6 that the average salary of the workers being moved to Richmond breaks down to $29.00 an hour or about $60,000 a year.

Also, HCA is adding 120 jobs at their offices in the Boulders.

:yahoo:

Simply spectacular... coupled with their BioTech park...

Link to post
Share on other sites

^^^The jobs to be added will be at the Marlboro Factory. Philip Morris wants to make that factory the main center of Marlboro Products in the U.S.

Where is Cabarras in North Carolina? Is it near the Big C?

I read that PM employs more than 2000 down there. Do you suppose they'll hire that many (including transferees) at their huge cigarette-making plant off I-95 here?

That hire would more than offset expected losses at Wachovia Securities, tho it won't be a an equal wage swap.

Things are improving in population growth for Metro Richmond when you take into account the new hires at the PM plant and Research Center; the health service center in Boulders, and especially the Fort Lee expansion. We could be looking at upward of 15,000 new residents by 2009 from these, plus normal growth.

Link to post
Share on other sites

Where is Cabarras in North Carolina? Is it near the Big C?

I read that PM employs more than 2000 down there. Do you suppose they'll hire that many (including transferees) at their huge cigarette-making plant off I-95 here?

That hire would more than offset expected losses at Wachovia Securities, tho it won't be a an equal wage swap.

Things are improving in population growth for Metro Richmond when you take into account the new hires at the PM plant and Research Center; the health service center in Boulders, and especially the Fort Lee expansion. We could be looking at upward of 15,000 new residents by 2009 from these, plus normal growth.

I believe the PM article said the expected hires were in the hundreds... makes sense that in consolidating and cutting back their production they wouldnt need as many. In fact the article also says that the NC plant was responsible for some of the overseas production, which they will be moving that portion of production overseas. Richmond will just be getting the domestic production.

Link to post
Share on other sites

Capital One is in their job-cutting mode still. A thousand jobs are going on the chopping block system-wide. As of this time it is undetermined how many will be let go in Richmond.

Edited by burt
Link to post
Share on other sites

Good to hear that your deptarment is fine.

From an economic stand point, I saw this coming for Capital One and other companies. It is unfortunate, but it is part of our ever so evolving economic cycle.

Besides, I have read a report that the Nation's economy is at its slowest since 4-years. Hopefully history will repeat itself and spare the Richmond area.

Link to post
Share on other sites

^Most small to midsized capital cities tend to be recession-proof to some degree.

Very true. Especially with all the tax dollars being pumped in to support those who need it. And something must be going right in Richmond for people to still be converting old buildings into apartments even when there is a housing market slowdown...

Link to post
Share on other sites

Very true. Especially with all the tax dollars being pumped in to support those who need it. And something must be going right in Richmond for people to still be converting old buildings into apartments even when there is a housing market slowdown...

So far the Richmond area has the strongest real estate market in VA. NOVA has cooled to a point where a good number projects have been put on hold.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.