The real estate tax rate will be 2 cents lower in addition to a 2-cent credit, and the tax rate for biotech company equipment will be slashed by 74 percent.
Henrico adopts $1.5B budget for FY23 with tax rate cuts, employee pay raises
Henrico
Local packaging firm closes on $140M capital raise to fund expansion
Henrico County-based TemperPack Technologies plans to open two more manufacturing plants and launch new products.
New Business Licenses: 3.4.22
Restaurants, retail, construction and logistics are some of the licenses on the list this week. (BizSense Pro subscription required)
The Pipeline: Commercial real estate roundup for 3.4.22
The purchase of 30 acres in Ashland for $19 million was the week’s top sale and 20,583 square feet in Henrico was the top lease. (BizSense Pro subscription required)
Henrico’s proposed budget would slash biotech property tax rate
The $1.2 billion spending plan would also reduce the real estate tax rate by 2 cents and set the stage for a $511 million bond referendum this fall.
Florida real estate investor snaps up Henrico flex buildings for $19M
Savlan Capital closed last week on two industrial and office buildings at 8575 and 8580 Magellan Parkway that total 126,000 square feet.
Henrico industrial market off to busy start in 2022 with nine-figure deal
The Eastport Industrial Park in Varina sold for $139 million. Meanwhile, a paper towel maker is moving to a bigger facility.
The Agenda: Local government briefs for 2.7.22
Development plans are up for review in Henrico, Richmond planners look to extend TOD zoning along West Broad Street, and Chesterfield maintains its bond rating.
The Pipeline: Commercial real estate roundup for 2.4.22
Property in Hanover for $5.2 million was the week’s top sale and 250,000 square feet in Henrico was the top lease. (BizSense Pro subscription required)
Henrico supervisors OK 1,600-home Avenlea development in Short Pump
The project is the biggest yet for Henrico-based Eagle Construction of VA, which also is seeking approvals for hundreds of homes nearby in Goochland County.