Economic Development News
 
This section provides access to Rockingham County press releases, news stories and links that have been published about economic developments and promoting Rockingham County business and communities, including opportunities for growth and information on Rockingham County economics.
 
 
 
SRI International
 
Governor Kaine Announces Major Research Institute for Virginia
 
SRI International's Center for Advanced Drug Research in the Shenandoah Valley is expected to transform the state's research and development efforts. By the end of the first ten years of operation, it is estimated that the project will create more than 100 news jobs with an average compensation of $85,000.
 
For more information on SRI International, read Governor Kaine's full press release.
 
 
SRI International and Public Officials Hold Groundbreaking Ceremony
 
Virginia Governor Timothy M. Kaine and officials from Rockingham County and the City of Harrisonburg will join SRI Internationalexecutives for a groundbreaking ceremony from 3:00 to 4:00 p.m. today at the site of the new Rockingham Center for Research and Technology. A new research and development building at the Rockingham Center will house SRI Shenandoah Valley and its Center for Advanced Drug Research, which currently occupies offices on the nearby James Madison University (JMU) campus.
 
For more information on SRI International, click here.
 
 
 
SRI International, Shenandoah Valley Partnership and Other Partners Unveil Regional Workforce Initiative and Comprehensive Report
 
SRI International and the Shenandoah Valley Partnership today unveiled a new report titled A Master Plan for 21st Century Workforce Transitions in Shenandoah Valley. Developed in partnership with Shenandoah Valley stakeholders, the report includes specific recommendations for preparing the Shenandoah Valley region's students and workforce for 21st century jobs. In addition to the report's release, next steps of a new regional initiative were announced today at a press conference in Waynesboro, VA at 11:00 a.m.
 
For more information on the regional workforce initative and comprehensive report, click here.
 
 
Preston Lake
 
Development To Wed Homes, Retail
Ambitious, Upscale Project Envisioned In Rockingham
Preston Lake, a mixed-use development that broke ground earlier this month, will change the area's retail market and residential opportunities dramatically, officials say. Preston Lake is a mixed-use development that is to include 515 residential units as well as retail and office space. Hine Group is constructing the development at the intersection of U.S. 33 and Massanetta Springs Road in eastern Rockingham County.
 
For more information on Preston Lake, click here.
 
Dymanic Aviation
 
Aviation Company Adding Jobs
 
A growing aviation company is preparing to add 50 positions to its work force. Dynamic Aviation's need for additional pilots, mechanics and administrative staff is primarily due to growth in the company's work for the federal government, said President and Chief Executive Officer Michael Stoltzfus.
 
For more information on Dynamic Aviation, click here.
 
 
BRCC Aviation Maintenance Program Ready To Fly
 
Blue Ridge Community College invests $1 million to establish aviation maintenance technology program. Dynamic Aviation and Select Aerospace Industries donate $500,000 in equipment to support the program.
 
For more information on the aviation maintenance program, click here.
 
 
Donation Gets BRCC Program Off the Ground
 
For Blue Ridge Community College, free gifts from the community drop right out of the sky, literally. On Wednesday afternoon, Dynamic Aviation, an aerodynamics company based in Bridgewater, officially handed over the keys to one of its 48-foot-wide airplanes.
 
For more information on the donation, click here.
 
 
MSAHarrisonburg Rockingham MSA
 
Harrisonburg MSA Ranked 10 in top 25 Metros for Quality Public Schools
 
The Harrisonburg Metropolitian Statistical Area (MSA) ranked 10 among 362 U.S. Metropolitian Statistical Areas in quality public education. Harrisonburg MSA has another star to add to its list of recognitions by Expansion Management Magazine. In the 2006 Metro Area Public Schools Quotient, the Harrisonburg MSA ranked 10 among 362 U.S. MSA's in quality secondary public education.
 
For more information on Harrisonburg MSA, click here.
 
 
Expansion Management Magazine Publishes its 4th Annual Mayor's Challenge Ranking of the Best Places in the U.S. to Locate a Company
 
In its 4th Annual Mayor's Challenge Ranking of the best places in the U.S. to locate a company, Expansion Management named the Harrisonburg MSA a 5-Star Business Opportunity Metro.
 
For more information on this ranking, click here.
 
 
Most Secure U.S. Places
 
Harrisonburg Rockingham MSA, Rated No. 2
 
Health, prosperity, safety and security are all desirable aspects when it comes to seeking a place to live, work or raise a family. The rankings took into consideration crime statistics, extreme weather, risk of natural disasters, environmental hazards, terrorism threats, air quality, life expectancy and job loss numbers in 379 U.S. municipalities. The study divided the communities into three groups: large metropolitan areas, mid-size cities and small towns.
 
To see the full list, click here.
 
 
Coors Brewing Co.
 
Coors Pops Open A New Place
 
Locating the brewery in Elkton was an easy decision, said Peter Coors, vice chairman of Molson Coors and chairman of Coors Brewing Co. "From a logistics standpoint, it was important to be on the East Coast," Coors said. "We have the infrastructure here and we've been thinking about this for a long time." Coors Brewing Co. showed off its new brewing operation Wednesday. The $300 million facility is the company's first new brewery in more than a century and will bring the Colorado-based company closer to East Coast consumers.
 
For more information on Coors Shenandoah Brewery, click here.
 
 
Coors' First Brew Coming Off The Line
 
The new brewery will make Coors more competitive by getting fresher beer to market quicker, a company statement said. And with a brewing operation closer to the East Coast markets, Coors projects a savings of $4 to $5 per barrel over the next five years. Coors Shenandoah Brewery’s first beer from its new $200 million brewery is scheduled to come off the line March 1st.
 
For more information on Coors Brewing Co., click here.
 
 
Coors, Dynamic Aviation Get IDA Grants
 
"In 2001, Rockingham County established its economic development grant program to encourage businesses in the technology zones to invest in equipment, expand their facilities and create jobs, said Chris Brown, Rockingham County Attorney. Rockingham County technology zones generate economic development grants for Coors Shenandoah Brewery and Dynamic Aviation expansions.
 
For more information on IDA Grants, click here.
 
 
MerckMerck & Co., Inc.
 
Governor Kaine Announces 70 New Jobs for Rockingham County
 
Governor Timothy M. Kaine today announced that Merck & Co., Inc. will invest an additional $193 million to expand its Elkton facility, further enhancing production capabilities for the pharmaceutical company’s medicines and vaccines. The project is expected to create 70 new jobs at the facility. Last December, Merck announced a $57 million expansion at the Elkton facility, which was established in 1941.
 
For more information on the Merck expansion, click here.
 
 
Governor Kaine Announces Vaccine Production Facility Expansion in Rockingham County
 
Governor Timothy M. Kaine today announced that Merck & Co., Inc. will invest $57 million to expand the role its Elkton facility plays in producing GARDASIL, Merck's cervical cancer vaccine. The investment will include construction of a new building and the installation of equipment for the purification process - a key stage in manufacturing the product. Merck recently completed construction of a vaccine fermentation facility at Elkton, which will be used to support an earlier stage in the GARDASIL manufacturing process.
 
For more information on Merck & Co., click here.
 
 
R.R. Donnelley
 
R.R. Donnelley Purchases Banta Corp. for $1.3 Billion
 
R.R. Donnelley purchases Banta Corporation in a billion dollar deal that strengthen's Donnelley's hold in the national printing world. Based out of Chicago, Donnelley currently operates a plant in the Harrisonburg and Rockingham County areas.
 
For more information on R.R. Donnelley, click here.
 

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