Business

Officials Toast New Distillery in Petersburg

Engle Family Farms 2

By Matt Leonard
Capital News Service

RICHMOND — With help from a state grant, a malting facility and craft distillery will open in Petersburg and use large quantities of Virginia-grown feedstock in making alcohol, officials announced Wednesday.

Gov. Terry McAuliffe and Petersburg Mayor W. Howard Myers joined the owners of Big Trouble Malting and Spirits at an event in Petersburg to make the announcement.

“The demand for malted barley is huge, and the market is vastly underdeveloped,” said Tony Kvasnicka, co-owner of Big Trouble. “Our goal is to support Virginia craft brewers and create an operation where growers can confidently raise barley and other alternative crops for the craft beer industry.” Continue reading


Economic Forecast Shows Slow Growth at Best for Virginia

By Michael Thompson and Stephan Cassaday

The Thomas Jefferson Institute for Public Policy, the state premier public policy foundation, recently released its 15th annual Economic Forecast for Virginia and it shows that our economy continues to slowly recover from the Great Recession.

Written by the state’s foremost private economics firm, Chmura Economics and Analytics of Richmond, this year’s Forecastf ocuses on the national and state economy. Nationally, total employment has finally exceeded the numbers from when the Great Recession started in 2008 and the Gross Domestic Product (GDP) is growing, although more slowly than in normal post-World War II recessions. Part of the economic lethargy is that so many people have dropped out the workforce over the past few years. This allows a lower unemployment rate to be posted, but that number is a bit misleading when the total potential employment pool is contracting. Continue reading


Governor McAuliffe Announces 376 New Jobs in the City of Petersburg

Press release from the Office of the Governor:

UniTao Pharmaceuticals purchases Boehringer Ingelheim plant and plans to invest $22.5 million to establish operation

Governor Terry McAuliffe announced today that UniTao Pharmaceuticals LLC has purchased the Boehringer Ingelheim plant in the City of Petersburg, and will invest $22.5 million to establish operations. UniTao is a subsidiary of Shanghai-based Tenry Pharmaceutical Co., Ltd., and the company manufactures active pharmaceutical ingredients. The project is a result of the Governor’s meeting with company officials in Shanghai, China during his Asia Marketing Mission. Virginia successfully competed against California and China for the project, which will create 376 new jobs.

Speaking about today’s announcement, Governor McAuliffe said, “This project will have a tremendous impact in the City of Petersburg and the surrounding region. I had the great privilege of meeting with company officials during my Asia marketing mission last week in Shanghai, China to officially close this significant win. UniTao’s new manufacturing operation in the Commonwealth is another milestone in building a new Virginia economy and builds on Virginia’s longstanding and growing relationship with China.”  Continue reading


Buzz Kill? Richmond Puts Brewery on Public Tab

WE’LL DRINK TO THAT: With a $5 million check to Stone Brewing Co., Gov. Terry McAuliffe, right, helped bring high times to the Capitol last week. AP file photo.

WE’LL DRINK TO THAT: With a $5 million check to Stone Brewing Co., Gov. Terry McAuliffe, right, helped bring high times to the Capitol last week. AP file photo.

By Kenric Ward | From Watchdog.org Virginia Bureau

RICHMOND, Va. — Thirsty for jobs and good times, the city of Richmond is vowing to build a brewery on the James River.

The estimated $36 million tab includes $5 million from Gov. Terry McAuliffe’s “Opportunity Fund.”

If approved by the City Council, most of the money will be raised with a general revenue bond, which puts the city’s taxpayers on the hook if the Stone Brewing Co. venture goes bust.

Details remain sketchy, and that has skeptics wondering if the city will see a replay of the stalled downtown baseball stadium project touted by Mayor Dwight Jones. Continue reading


America’s Leading Small Business Association Endorses Dave Brat for 7th District

The National Federation of Independent Business, NFIB,  the nation’s and Virginia’s leading small-business association, has endorsed Dave Brat in the 7th District congressional race.
“Dave Brat is clearly the best choice for small business,” said Lisa Goeas, NFIB vice president for Political and Grassroots.
“He’s an economics professor, and he’s served on the Joint Advisory Board of Economists, Richmond Metropolitan Authority, and several other business and investment boards,” Goeas said.
“He’s worked with government to improve economic conditions for businesses, and he understands the leadership Washington needs in order to create a pro-growth environment.

Continue reading


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