The indoor agriculture company with a facility in Southside said it has received short-term funding to stay in business until the sale closes. Permanent closure remains possible if the deal falls through.
Economy
Covering the economic issues facing Southwest and Southside Virginia.
Posted inEconomy
Google says it will break ground on Botetourt data center campus in coming months
The tech giant bought more than 300 acres at the county’s Greenfield industrial park for $14 million last June.
Posted inEconomy
Carter Bank sells Justice family businesses’ loans
The loans, connected to family businesses of U.S. Sen. Jim Justice, R-W.Va., were worth more than $200 million but have not been earning interest for the bank since 2023.
Posted inEconomy
‘My land is valuable’: Valley Link power transmission proposal meets a growing, organized resistance
Opponents of the proposed 115-mile, 765-kilovolt transmission line say it would harm their property, their communities, the environment and their health. The project’s developers say it’s necessary to meet growing electricity demand and keep the grid reliable.
Posted inEconomy
Tech briefs: After Trump’s AI framework released, members of Virginia’s congressional delegation weigh in
Plus: The Roanoke Blacksburg Technology Council’s annual TechNite event is set for May.
Posted inEconomy
Cardinal Commerce Notes: New Appalachian Power president, Lynchburg hiring event, Southwest Virginia tourism research, Wythe County zoning meeting
Get up to speed on recent business happenings.
Posted inEconomy
Rare earth mineral production at center of pilot project involving Virginia Tech
Canadian company Aclara Resources’ manufacturing facility at the Virginia Tech Corporate Research Center is a precursor to a large-scale plant that company officials say will provide 75% of the United States’ rare earth minerals.
Posted inEconomy
Craig-Botetourt Electric Cooperative seeks rate increase
The cooperative proposes raising the average Virginia residential customer’s monthly bill by $7.31.
Posted inEconomy
Creeper Trail has $61 million annual impact on 4 Southwest Virginia counties, new study finds
Work on the study began just days before Hurricane Helene hit the region and decimated half the trail. Researchers at Virginia Tech recommend that additional survey work be done after the trail fully reopens.
Posted inEconomy
Tech Briefs: Corps of Engineers solicits public comments on proposed Google data center’s effect on water sources
Warner pushes Senate bill to prepare workers, industry for AI-related changes; Virginia Tech professor discusses drone attacks on data centers.
