Despite hangover effects from a mortgage-induced recession, the Richmond region continued its slow-but-steady approach to economic growth last year. New projects combined with expansions of existing facilities to boost capital investment and generate jobs. Included in the expansions is an $86 million hummus-manufacturing plant by Sabra Dipping Co. in Chesterfield County and Health Diagnostic Laboratory's $100 million construction in Richmond. The Travelers Cos. Inc. insurance provider shifted its Richmond-area operations to Henrico County's Deep Run office complex, and Aditya Birla Minacs, a business-process-outsourcing specialist with roots in India, also chose Deep Run for a new customer support center. "Getting Minacs showcases how attractive Richmond is to international companies," says Gregory H. Wingfield, chief executive of the Greater Richmond Partnership, a public-private agency that recruits new business. Here's a roundup of recent activity in the region.
GOOCHLAND COUNTY
Project: Capital One at West Creek and The Notch at West Creek Capital One Financial Corp. completed its expansion at West Creek Business Park in Goochland, giving the county a significant feather in its cap, says Matthew E. Ryan, director of economic development. The McLean-based credit card company finalized the addition of 300,000 square feet this year. Three structures were added to its 315-acre campus, including a 200,000-square-foot office building and a multiuse facility of 100,000 square feet. In a related development, work is underway at The Notch at West Creek, a planned 230-acre project at West Broad Street and Route 288. Envisioned as a mixed-use development, The Notch will include a three-mile parkway that provides direct access from West Creek Business Park to Broad Street. Work also is nearing completion on a 254-unit apartment complex known as The Retreat at West Creek, just west of Short Pump Town Center. Size/Scale: 300,000 square feet (Capital One) Type: Expansion Completion Date: 2013 Cost: $45 million
HENRICO COUNTY
Project: The Travelers Cos. Inc. Chesterfield County's loss of the The Travelers Cos. Inc. marked one of Henrico County's big gains in 2013. The New York City-based property and casual insurance provider shifted its Richmond-area operations from Arboretum Office Park to a 72,000-square-foot location at Deep Run III in western Henrico, occupying part of a building that served as headquarters for the now-defunct Circuit City. Travelers will occupy the top floor and a portion of the fourth floor of the six-story Mayland Drive building, which is undergoing a $13 million renovation. The move brings about 400 new jobs to the county. "Getting Deep Run leased and occupied is big, because it gets buildings that have been vacant back on the tax rolls," says Gary McLaren, executive director of the Henrico Economic Development Authority. Other companies moving into the Deep Run office complex last year included Allianz Global Assistance USA, a consumer-specialty insurer, and technical-services company Aditya Birla Minacs. Size/Scale: 400 jobs, 71,817-square-foot office Type: Relocation Completion Date: December 2013 Cost: $3 million
CITY OF RICHMOND
Project: Health Diagnostic Laboratory Inc. (HDL) HDL, Richmond's homegrown biotech company, broke ground on a second phase of construction at the Virginia Biotechnology Research Park in April 2013. The company provides cardiovascular testing and health consulting services. The new facility expands HDL's headquarters at the intersection of East Jackson and North Fifth streets. Slated for completion in April, it will add about 95,000 square feet of office and laboratory space — enough room for an additional 400 employees, in addition to more than 800 workers currently on staff. All told, HDL's facilities will encompass 283,000 square feet. Among the appealing design touches are a rooftop park, an around-the-clock employee gym and dedicated green space. HDL officials say the deal represents a total capital investment of $100 million. "This is a catalytic event that shows how the city of Richmond is a great place for biotech entrepreneurs to run a thriving business," says Lee Downey, the city's director of economic and community development. Size/Scale: 400 new jobs; 95,000 square feet Type: Expansion/new construction Completion Date: April 2014 Cost: $100 million
HANOVER COUNTY
Project: The Vitamin Shoppe Hanover County officials are cheering their most recent economic coup: The Vitamin Shoppe, a specialty retailer of nutritional products that in October 2013 opened its first East Coast distribution center on a site off U.S. Route 1, just north of the town of Ashland. The chain's 312,740-square-foot facility represents a $39 million investment in Hanover that county officials say will create 170 jobs during the next three years. Since launching its first store in 1977, The Vitamin Shoppe has grown to more than 500 locations nationwide. "Our strategic location and access to Interstate 95 will provide The Vitamin Shoppe with a great [base from] which to reach its retail outlets and growing customer base," says Edwin Gaskin, Hanover's director of economic development. Size/Scale: 170 jobs, 300,000 square feet Type: New construction Completion Date: October 2013 Cost: $39.4 million
CHARLES CITY COUNTY
Project: Virginia Capital Trail A substantial section of the 52-mile-long Virginia Capital Trail is planned to bisect Charles City County. An 8-mile stretch is already in use. "It's amazing to see how many people are riding the trail from the Charles City Courthouse," says Matthew Rowe, the county's director of planning. Another 23 miles are slated to cross through Charles City. The 10.5-mile New Market phase will parallel Route 5, running from eastern Henrico County to the Charles City Courthouse. A 12.5-mile-long section, known as the Sherwood Forest phase, will link the courthouse to the west bank of the Chickahominy River. County officials also are working with state and local tourism groups to develop a "tourism and cultural trail" centered on the bike trail, Rowe says. It includes plans to target the area for development of a winery or distillery along the trail to "create a destination for wine, spirits and beer enthusiasts," Rowe says. Size/Scale: Two trail segments, 23 miles total Type: Addition Completion Date: 2014 Cost: $18.7 million
CHESTERFIELD COUNTY
Project: Sabra Dipping Co. The maker of refrigerated dips and spreads continues to spice things up in Chesterfield. Last year, Sabra expanded its hummus-manufacturing operations by 117,000 square feet, marking new investment of roughly $86 million. The new plant adds to the 131,000-square-foot manufacturing factory Sabra opened in southeastern Chesterfield's Ruffin Mill Industrial Park in 2010. The latest plant will generate 140 new jobs, says Will Davis, the county's director of economic development. Sabra expects to boost production by 50 percent to meet demand for its hummus and related food products. The Chesterfield Economic Development Authority agency will provide a $385,000 grant to Sabra, tied to job creation by July 1, 2016. Aside from expanding its manufacturing capacity, last year Sabra unveiled a "center of excellence" in research and development, a $28 million facility designed to advance food science. "Getting the center of excellence was not a slam dunk just because Sabra has a manufacturing plant here," Davis says. "We had to compete to win it." Size/Scale: 140 jobs, 135,000 square feet (117,000 square-foot manufacturing facility and 18,000 square feet of research space) Type: Expansion/addition Completion Date: 2013 Cost: $114 million (combined)
