Category: Economic Development
By Philip Newswanger
philip.newswanger@insidebiz.com
Sentara Healthcare asked for $100,000 for a new helicopter.
Eastern Virginia Medical School asked for $250,000 to finance construction of a new medical and education research facility in Norfolk.
Neither one got the full amount they requested from the Norfolk Economic Development Authority.
But the authority did grant them money - $25,000 a piece, and they have the option of coming back after a year and asking for more.
By Philip Newswanger
philip.newswanger@insidebiz.com
The best laid plans are about to change, possibly forcing an overhaul of the region's economic development plans and its economy.
Regional leaders are still mulling over Defense Secretary Robert Gates' decision to close the U.S. Joint Forces Command, which has facilities in Norfolk and Suffolk, by October of next year and trying to assess the possible future damage.
The closure will wipe out close to 6,000 positions, both for the Department of Defense and for contractors.
By Philip Newswanger
philip.newswanger@insidebiz.com
It's a classic standoff between the powers in Richmond and localities, which are struggling with budget cutbacks, unfunded pensions and slipping services.
The issue: approving bonds and the administrative fees associated with the them.
On one side are nonprofits and a state agency, the Virginia Small Business Financing Authority, which charges 0.10 of 1 percent of the face value of the bonds issued for nonprofits.
THE HAMPTON ROADS CHAMBER OF COMMERCE sent a letter last week to President Obama opposing the recommendation of Defense Secretary Robert Gates to close the U.S. Joint Forces Command and asking him to reconsider the decision and the process used. The letter is reprinted here and with a copy of the letter.
August 23, 2010
The Honorable Barack H. Obama
The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500
Dear Mr. President:
By Philip Newswanger
philip.newswanger@insidebiz.com
We interrupt your regular reading routine to bring a special report on the demise of the U.S. Joint Forces Command.
This special report is brought to you by the Hampton Roads Planning District Commission, the group composed of 16 localities in the region, totaling a population of approximately 1.6 million.
By Philip Newswanger
philip.newswanger@insidebiz.com
Should the U.S. Joint Forces Command shut down, the prospect is overwhelming for at least two Hampton Roads communities.
But the proposal, if instituted, might be a shell game - shifting dollars from one branch of the military to another, and from one community to another one, maybe within the same region.
Norfolk, where the joint command is headquartered, and Suffolk, where it has spawned a mini-city of buildings filled with government contractors, would be the hardest hit cities in the region.
By Philip Newswanger
philip.newswanger@insidebiz.com
Gov. Bob McDonnell is tackling Virginia's anemic economy with a package of tax and monetary incentives and legislative changes.
The governor has also established a commission to identify barriers and obstacles to job creation and economic development and to provide recommendations.
McDonnell set up the Economic Development and Jobs Creation Commission in April as part of his executive order in January, which also established the position of chief jobs creation officer.
By Philip Newswanger
philip.newswanger@insidebiz.com
A company that plans to produce ethanol from barley is encountering a few legal difficulties.
Osage Bio Energy LLC is confronting legal action from six companies seeking payment for construction of the plant, which cost $170 million to build and equip.
The plant is located on 55 acres near Hopewell.
Details of the legal challenges were reported July 5 in an article in the Hopewell News written by K.J. Burnell.
By Philip Newswanger
philip.newswanger@insidebiz.com
Energy from wind is gaining traction among the public and investors, but hurdles are high, according to a report from the U.S. Department of Energy.
The capacity to generate wind energy was up 40 percent in 2009 compared to the previous year, the report said. Capacity is measured in gigawatts, or 1 billion watts, a measure of energy output.
In 2009, the report said 10 gigawatts were added to existing capacity, an investment of $21 billion.
By Philip Newswanger
philip.newswanger@insidebiz.com
Virginia has reached the top of the charts again as the most pro-business state in the country.
The commonwealth scored the highest, followed by Utah and Wyoming, according to the Pollina Corporate Top 10 Pro-Business States for 2010.
Virginia was ranked number one in 2003, 2007 and 2009.
The report is done every year by Pollina Corporate Real Estate, a site consultant based in Park Ridge, Ill., a Chicago suburb.
