Economy

If the state approves, Appalachian Power would build a new substation and power lines at a 273-acre industrial park that has yet to attract any businesses. The utility’s president says the investment could be a “gamechanger.” Apco customers would foot the bill for the project through an increase in monthly bills.

Layman Distributing will create 42 new jobs and invest $6.8 million in the expansion.

The maker of electrical transformers will add new manufacturing and corporate office space at its Hill City headquarters, Gov. Glenn Youngkin announced Wednesday. Virginia competed with Pennsylvania and California to secure the deal.

A Danville-based agency has opened a Martinsville office that will offer loans to fix up dilapidated residential structures. They are the only two of their kind in the state.

It’s been nearly two years since the U.S. Supreme Court ruled that college athletes could profit from their names and likenesses. Triumph NIL’s deal to acquire Commonwealth NIL will combine two NIL players in the world of Virginia Tech athletics.

Before a state can land a large, transformative economic development project, it has to make sure there’s a site to put it on. Here’s what the process of preparing a megasite looks like.

Caesars Virginia received the state lottery board’s approval Wednesday and announced its opening date quickly afterward. It’s now the third casino licensed to operate in Virginia.

The long-running festival brings about $4 million to Floyd and neighboring counties each year, but businesses say tourism is so big in Floyd that its absence won’t hurt much.

Carter Bank & Trust filed court documents seeking repayment from the Justices’ businesses on over $300 million in loans. The companies say they have a plan to pay off the loans but argue that the bank isn’t interested.

As auto manufacturers expand their electric vehicle offerings, many new models will ship without AM radios. Broadcasters and some government officials say the medium remains vital for public safety.