Virginia business briefs for Jan. 27

By: Times-Dispatch Staff | Times-Dispatch
Published: January 27, 2012

Va. loses to N.C. in bid for Sierra Nevada

Virginia lost out to North Carolina in its bid for Sierra Nevada's $70 million East Coast brewery.

Sierra Nevada announced Wednesday that a community near Asheville, N.C., will be the site of its long-discussed expansion brewery.

Locations in Roanoke and Montgomery counties had been in the running. A spot near Christiansburg was on its short list.

According to Sierra Nevada, the new brewery will be in Mills River, about 12 miles from Asheville. It will employ 90 people initially, the company said, and will include a restaurant and gift shop along with the production plant.

Vaughn-Bassett to expand Galax site

Vaughn-Bassett Furniture is planning an $8 million expansion of its operations in Galax.

The expansion includes the $1.5 million acquisition of a former Webb bedroom furniture factory next to Vaughn-Bassett's main factory. The main factory will be expanded.

The expansion, announced Thursday, is expected to increase production capacity by 50 percent and create at least 50 jobs by July.

The former Webb factory is scheduled to reopen in March.

Vaughn-Bassett could receive state and local financial incentives if it meets certain spending and job targets by March 2015. They include about $56,250 in incentives from Galax, $200,000 from the Virginia Tobacco Region Opportunity Fund and $75,000 from the Virginia Jobs Investment Program

Firm plans to invest in King and Queen

A small defense contracting firm whose employees are former special operations soldiers plans to invest $4.6 million in a training facility at the Middle Peninsula Regional Airport in King and Queen County, adding 31 jobs over the next three years.

Fulcrum Concepts plans to provide aircraft integration of specialized weaponry and avionics as well as maintenance operations at the airport. The company also will provide tactical intelligence, surveillance and reconnaissance training for military and civilian special operations personnel.

A minimum $100,000 state grant will assist King and Queen County with the project, with additional funds available through other state agencies and programs, including the Virginia Department of Transportation.

From staff and wire reports

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