The Electric Infrastructure Program allows electric utilities to recover costs incurred to construct, operate, and maintain transmission lines and associated substations installed to provide service to a business park when found eligible for a rate adjustment approved by the State Corporation Commission (SCC). The program allows for three sites in each utility’s certificated service territory.
The Rights-of-Way Certification Program may allow the utility to acquire rights-of-way for the ordinary extension of utility facilities in the normal course of business to one or more qualified economic development sites and to recover costs incurred, subject to approval by the State Corporation Commission (SCC).
Contact
Abigail Patterson
804.545.5774 | jmhaynes [at] vedp.org (apatterson[at]vedp[dot]org)
Company to invest $4.1 million to expand manufacturing presence
RICHMOND—Governor Ralph Northam today announced that TST Fabrications, LLC, a wholly owned subsidiary of TST Construction, will invest $4.1 million to expand its manufacturing presence in the City of Norfolk by acquiring the production assets of a sheet metal fabrication business. Virginia successfully competed with Georgia, Maryland, and North Carolina for the project, which will create 34 new jobs.
Long-term strategy aims to increase competitiveness of Virginia businesses in international marketplace, grow exports by 50 percent
NORFOLK—Governor Ralph Northam today announced the first ever comprehensive International Trade Strategic Plan for Virginia. The plan lays out an aggressive goal to expand the Commonwealth’s international trade output by 50 percent over the next 15 years, increasing Virginia’s position from 41st in exports per capita to the top 20 states for exports per capita by 2035.
Company to expand research and development operation
RICHMOND—Governor Ralph Northam today announced that GlaxoSmithKline plc (LSE/NYSE: GSK), a leading global healthcare company, will invest $16.7 million to expand its consumer healthcare research and development center in the City of Richmond. GSK chose Virginia as one of three R&D laboratory hubs for their global Consumer Healthcare business and plans to add approximately 150 new jobs at the site.
Company to invest $57.8 million to establish new walk-in step van assembly operation in former IKEA plant
DANVILLE—Governor Ralph Northam announced today that Morgan Olson, LLC, North America’s leading manufacturer of all-aluminum walk-in step vans, will invest $57.8 million to establish a new walk-in step van assembly operation in a 925,000-square-foot plant in Danville-Pittsylvania County currently owned by IKEA. Virginia successfully competed against Kentucky, North Carolina, and Ohio for the project, which will create 703 new jobs.