Hello Cardinal News readers. Welcome back to Cardinal Commerce Notes, our regular feature catching you up on various recent business news items.
If you missed last week’s edition, check it out here to learn more about a Botetourt County business expanding, new leadership at First Piedmont Corp., a Lynchburg store reopening after a fire and more.
I’m always on the lookout for news tips. Please email me at matt@cardinalnews.org or connect with me on LinkedIn and message me there.
New board to support Virginia forestry industry
Gov. Abigail Spanberger has signed an executive directive creating the Virginia Wood Council, an advisory body focused on growing the forestry industry and supporting loggers.
Spanberger said in a news release that the council will “drive economic growth, help businesses access new markets for Virginia-made wood products, and keep our forests and wood-based businesses strong for generations to come.”
“We need to do more to support the hardworking men and women who power this critical industry — particularly in the midst of the uncertainty created by the President’s reckless tariffs,” Spanberger said.
The council will consist of members from government and private industry. Spanberger said she encourages wood manufacturers, forest owners, academics and others to join.
Forestry is Virginia’s third-largest private industry, with more than 108,000 jobs and $21 billion contributed annually to the commonwealth’s economy, according to the release.
Spanberger signed the executive directive April 17 at the East Coast Sawmill, Logging and Pallet Equipment Exposition in Doswell.
Walmart to remodel local stores
Walmart plans to remodel eight stores in Central, Southside and Southwest Virginia this year, part of a larger plan involving 19 Virginia stores altogether.
The retail giant said in a news release that it will upgrade layouts, update pharmacies and add services to make in-store shopping and delivery more convenient.
The eight stores are:
- 1126 E. Lynchburg Salem Turnpike, Bedford
- 13245 Lee Highway, Bristol
- 211 Nor Dan Drive, Danville
- 1050 Regional Park Road, Lebanon
- 197 Madison Heights Square, Madison Heights
- 4807 Valley View Blvd. N.W., Roanoke
- 5350 Clearbrook Village Lane, Roanoke
- 550 Old Franklin Turnpike, Rocky Mount
A list of all 19 stores in Virginia slated for remodeling this year is available here. Nationwide, Walmart plans to remodel more than 650 stores this year.
“Our stores have long been part of communities across Virginia, and we’re excited to keep investing in their future,” Annie Walker, senior vice president, East Business Unit at Walmart, said in a news release.
Program to help Helene-impacted farmers reopens
A program aimed at assisting certain farmers and foresters in 27 localities whose operations were impacted by Hurricane Helene has reopened for applications.
“The Virginia Farm Recovery Block grant provides direct funding for losses not covered by other federal disaster assistance programs,” Virginia Secretary of Agriculture and Forestry Katie Frazier said in a news release. “Reopening the Virginia Farm Recovery Block Grant is vital to the rebuilding process by ensuring all eligible producers have ample opportunity to apply for this valuable assistance.”
The program’s application portal reopened Monday and will close at 5 p.m. July 1.
The program is administered by the Virginia Department of Agriculture and Consumer Services, working with the Virginia Department of Forestry and Virginia Cooperative Extension.
To help producers apply, VDACS will hold an in-person training session at 10 a.m. May 1 at the Southwest Virginia Higher Education Center, Room 240, at One Partnership Circle in Abingdon. Virtual participation is available here.
More information on the program is available here.
BWXT to acquire components manufacturer
The Lynchburg-based nuclear services firm BWX Technologies plans to acquire Massachusetts-based Precision Components Group LLC, a manufacturer of components for defense and other industries.
The company will become part of BWXT’s Commercial Operations business segment and will continue operating in its current facilities, BWXT said in a news release.
“This acquisition builds on BWXT’s strong performance in the commercial nuclear industry and represents an important first step as we establish U.S.-based commercial nuclear manufacturing capacity to meet the accelerating needs of U.S. commercial nuclear customers,” John MacQuarrie, president of BWXT Commercial Operations, said in the release.
The acquisition will add more than 500,000 square feet of manufacturing space and more than 400 employees, BWXT said. The company has about 10,000 employees, including 2,850 in Virginia.
That’s a wrap for this week. Do you know of a new business expanding or relocating in your town? Excited about a restaurant opening up soon? Maybe you’ve got an update on a story we’ve reported before. Please send me your tips and suggestions: matt@cardinalnews.org or connect with me on LinkedIn.
