Richmond: Economy/Business/Real Estate

[burt]

Richmond's Deep Water Terminal has all but dried up as an inland port.

The long wharf on The James, a few miles downstream of Richmond, used to be the scene of considerable trans-Atlantic traffic but now attracts only one sailing per month...an Icelandic cargo ship plying the waters between Reykjavik, Richmond and Chester, Pa.

From yesterday's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/B-PORT22_20100121-221403/319322/

And to think! Only a few years ago we reported on these pages the story of a University of Virginia matriculate who sailed into Richmond on an ocean-going vessel from an English port.

[burt]

Accolades for Shockoe Slip's Martin Agency.

Adweek Magazine named it the top agency in the nation.

From today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/MARTGAT25_20100125-093602/319993/

[burt]

Here's a celebratory video:

After winning recognition as the the top ad agency in the United States Chairman John Adams dances a jig after his announcement to a housefull of employees.

http://www2.timesdispatch.com/rtd/business/local/article/MART26_20100125-222006/320100/

[burt]

Thursday, February 4th at 9PM, HGTV will air an episode of "House Hunters" featuring a Richmond family reluctantly leaving The Fan District for a larger home in the suburbs.

From today's RTD:

http://www2.timesdis...-211407/321616/

-------------------------------------------------------------------------------------------------------------------------------------------------

NOTE: The "House Hunter" episode about the Richmond family has been delayed until at least February 14th -- possibly later.

From today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/HUNT03_20100202-213008/321845/

Edited February 3, 2010 by burt

[burt]

The former First Market Bank is now officially Union First Market Bank.

Headquarters of the 900-employee merged banks will remain in downtown Richmond at the First Market Building on South 14th Street at the Canal Turning Basin.

From today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/B-BANK02_20100201-210007/321573/

[burt]

Regional cooperation urged to further economic development. And someone in Chesterfield says "let's do it."

From today's RTD:

http://www2.timesdispatch.com/rtd/news/local/article/DEVO12_20100211-220008/323769/

[burt]

From today's Business Page of the RTD:

Manpower, Inc, which has 4,100 offices in 82 countries and territories, has a signed a deal that names Richmond's Martin Agency as the branding agency of record for the global employment services company.

The Martin Agency and Manpower, Inc. have been working together for several months but the official announcement was made this week.

Details of the arrangement were not disclosed.

[burt]

City steps up development strategy.

From today's RTD:

http://www2.timesdispatch.com/rtd/news/local/article/ECOD14_20100213-221809/324181/

Edited February 14, 2010 by burt

[burt]

Relative to the development strategy in the newspaper story posted directly above, an encouraging factor is that the newly formed Department of Economic and Community Development will occupy interestingly arranged space which recently became available in Main Street Station.

And while details of a proposed major commercial development near (or part of) MSS have not been revealed, a city spokesperson says it is "definitely not pie in the sky."

Those old Lorillard warehouses on Main Street around 24th and 25th Streets may be developed for commercial and retail uses.

All of this activity should spur interest in the proposed Slave Museum. And while it appears High Speed trains will not call at MSS before 2015 at earliest, things are looking up for Shockoe Bottom and perhaps other areas of the city.

[wrldcoupe4]

Despite the economy, the level of activity continuing in the Bottom is pretty remarkable. While the keystone remains untouched (Main Street Station & land north of the Farmer's market, south of Broad), everything around it is being developed.

[burt]

Today's RTD paints a fairly upbeat recovery for business and commerce in Metro Richmond:

http://www2.timesdispatch.com/rtd/business/local/article/O-ECON28_20100226-225602/327207/

In addition to the main story you can select from a sidebar menu.

[burt]

Supervalu, the food company that used to supply Ukrops, does not have such an arrangement with Ukrops' succcessor, Martin Markets, and as a result is laying off workers.

From today'r RTD:

http://www2.timesdispatch.com/rtd/business/local/article/B-GROC03_20100302-212803/327890/

[burt]

Shockoe Slip's Martin Agency continues its momentum. This year they have added Manpower and the Tylenol accounts, and just today the announcement was made that Morgan Stanley would join their prestigeous list of clients.

From today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/B-MART04_20100303-212605/328164/

[burt]

Bet you didn't know that little old Goochland ranks 16th among the nation's wealthiest counties?

That's what Forbes Magazine says about the Richmond suburb.

From today's RTD:

http://www2.timesdispatch.com/rtd/news/local/article/GOVT09S1_20100308-213403/329135/

[burt]

Some people in-the-know believe home building is on the up-tick in the Richmond area.

Expansion of Ft. Lee; construction of the Rolls Royce plant in Prince George County, and an offer by a Kansas company to buy the Qimonda site in Eastern Henrico are encouraging factors.

From Carol Hazard in today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/B-HOME10_20100309-210605/329337/

[burt]

The Downtown Richmond Loft Tour, sponsored in part by Venture Richmond, is scheduled for Saturday, March 27th.

Here are details, including a slideshow, from today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/B-TOUR13_20100312-211404/330062/

The story by Carol Hazard says almost 8,000 people live downtown. That number should increase considerably if, as reported elsewhere, 1,200 more residential units come on line between now and 2012.

Meanwhile, Carol writes about a unit in a Jackson Ward building called Brook Loft which, I think, is an old warehouse angled on the northeast corner of Marshall Street and Brook Road (across from Gallery 5.) However, the caption for this unit in the slideshow identifies it as being in the quirky Richmond Dairy Building a block west at Marshall and Jefferson Streets.

Edited March 13, 2010 by burt

[burt]

The RTD's Richmond Buidling Permits column, which is never up-to-date, reports that a retail store at 416 East Grace Street is being demolished. The property owner is listed as Richmond Universal Enterprises and the contractor is Conquest Moncure and Dunn, Inc.

This news distresses me because that block of East Grace Street contains a row of architectural gems. Demolition will leave an ugly gap in the block.

The permits column also reveals that 408 North 3rd Street is undergoing a half-million dollar+ renovation. Does anyone have a clue about what is happening at that address which I believe is between Clay and Leigh Streets across from the Greater Richmond Convention Center?

Edited March 15, 2010 by burt

[burt]

Bankruptcy judge permits sale of the 210-acre Qmonda facilities and property to a company called Richmond Semiconductor which shares an address with Quality Group of Companies, Inc that is located in Overland Park, Kansas, a suburb of Kansas City

Price paid for the Eastern Henrico plant is a paltry $12 million.

From this afternoons's RTD:

http://www2.timesdispatch.com/rtd/news/local/article/QIMOGAT17_20100317-140601/330975/

[burt]

Sabra Dipping Company, a New York based food manufacturer, is putting finishing touches on its new Chesterfield factory and is considering moving its Corporate Headquarters to the area.

From today's RTD:

http://www2.timesdis...-213203/333253/

Edited March 27, 2010 by burt

[Shakman]

This is definitely a good economic "turn=around" news.

[burt]

Virginia's state government has extended its business relations with Northrop Grumman.

But the agreement has nothing to do with the shift of Northrop Grumman's corporate headquarters from Los Angeles to Northern Virginia.

Maybe the company is not too keen on the Attorney General and will turn its focus to the more moderate Maryland suburbs for a relocation site. Maybe not.

From today's RTD:

http://www2.timesdispatch.com/rtd/news/state_regional/state_regional_govtpolitics/article/VITAGAT06_20100406-142801/335425/

[Brent]

I doubt that NG really cares about the AG. I find it hard to believe that a company that makes weapons (drones controlled from air conditioned offices in CA indiscriminately dropping bombs on villagers thousands of miles away) really cares about domestic partnerships. Protecting the rights of their gay employees looks good on paper and doesn't cost them a thing but I doubt it weighs too heavily on any real business decisions. I suspect that VA backing off on its anti-gay rhetoric leaves just enough wiggle room for NG to move here without looking too hypocritical.

Edited April 6, 2010 by Brent

[burt]

Martin's to hire 150 as it expands merchandise and hours at former Ukrop's markets.

This RTD story says "Martin's will donate Ukrop's private label merchandise, as well as perishables, currently in stores to the Central Virginia Food Bank."

It gave 12,000 pounds of food to the food bank from four stores that closed Saturday.

From today's RTD:

http://www2.timesdispatch.com/rtd/business/local/article/MART07_20100406-222808/335531/

Edited April 7, 2010 by burt

[calwinston]

The former Qimonda Plant in Henrico County has big plans come the third quarter of this year! But unfortunately it will only create about 30 permanent jobs. This is far less than the 3000 jobs Qimonda had at the site. Most of the other temporary jobs will come in construction. It also seems that large data centers will become the norm in Central Virginia.

http://www.richmondbizsense.com/2010/04/07/big-plans-for-vacant-plant/

[calwinston]

"Intrinergy, a Shockoe Slip alternative energy firm with operations in Europe and Latin America, is taking the opposite growth approach and looking hard at building one or two wood pellet plants in Virginia."

"The company wouldn’t disclose exactly what towns might be involved but did say South Side Virginia is attractive because of the forests and access to deep-water ports in Hampton Roads."

This is would be great news for Southside Virginia especially after the loss of International Paper in Franklin.

http://www.richmondbizsense.com/2010/04/07/alternative-energy-firm-has-alternative-expansion-plans/

Edited April 7, 2010 by calwinston