County’s economic indicators improving

A number of key economic indicators are pointing in the right direction for Henrico County, and county officials are in a cautiously optimistic mood.

Among the most promising numbers: Henrico’s sales tax revenues were up 7.3 percent in April as compared to the same month last year.

“With this [recent] economic difficulty, consumers kind of batten down the hatches, and then at some point they decide enough is enough,” Henrico Finance Director John Vithoulkas said. “Residents got very cautious and now are starting to breathe and live their lives again.”

Each month since last fall, Henrico’s sales tax receipts have been 5 to 10 percent higher than during the same month one year earlier, Vithoulkas said. Henrico also experienced its highest December sales tax revenue in its history last year – an indication “that Henrico is becoming even more attractive to the regional resident,” Vithoulkas said.

Confirmation of that point is evident in the county’s per-capita sales during 2010, which were more than $15,369. Henrico, the sixth-largest locality in Virginia, also ranked second in the state in total sales last year, trailing only Fairfax County, the largest locality.

Perhaps the most encouraging sign to Vithoulkas and other county officials is the influx of new jobs to the county. Between last October and this February, 1,734 new jobs were announced or filled within the 21-locality Richmond-Petersburg Metropolitan Statistical Area (MSA); 1,325 of them were in Henrico County.

“Seeing this type of turnaround on jobs, both in number and in quality, is extremely positive,” Vithoulkas said.

Other positive signs for the county:

• new vehicle sales were up 8.2 percent during Fiscal Year 2010-11, through January, and used vehicle sales were up 3.6 percent;

• commercial real estate vacancy rates improved in six of seven major commercial corridors from 2009 to 2010, with the seventh (Parham East) only slipping slightly, from 1.3 percent to 1.6 percent.
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Henrico promotional company changes name


Henrico-based brand merchandising company NewClients, Inc. has changed its name to Boost Promotional Branding.

The company is one of the nation's largest in the branded merchandise industry. Founded in 1981, its serves more than 5,000 clients – including many Fortune 500 companies – nationwide. > Read more.

Lidl competition offers shoppers chance to win NYC trip


Three Lidl shoppers will win trips to New York City to receive a first-look at the Esmara by Heidi Klum collection and attend an international runway event debuting the collection. The contest is open to residents of Virginia, North Carolina and South Carolina – the three states in which Lidl currently operates grocery stores. The chain opened two stores in Henrico County last month. > Read more.

Glen Allen advances in 14U Babe Ruth World Series


The Glen Allen Babe Ruth Baseball League 14-year-old all-star team advanced to the single-elimination round of the 14-year-old World Series, which the Glen Allen Youth Athletic Association is hosting at RF&P Stadium in Glen Allen. > Read more.

Earnhardt gives Redskins a ride


Dale Earnhardt Jr., driver of the Hendrick Motorsports No. 88, stopped at Richmond Raceway Aug. 8 in advance of the track’s NASCAR weekend in September. He was joined by five players from the Washington Redskins, who were in town for the team's training camp, which concluded Aug. 14. The day in Richmond gave Earnhardt and the Redskins players an opportunity to see how the athletes compete in their respective sports. > Read more.

READ Center a finalist for $25k grant


The READ Center is a top-200 cause finalist in State Farm’s Neighborhood Assist program, making it eligible to earn a $25,000 grant to support adult literacy in the Richmond region. The 40 organizations from across the nation with the most votes will win grants.

The READ Center, based in Henrico, provides classroom instruction and one-to-one tutoring to adults with very low literacy. > Read more.

Henrico Business Bulletin Board

August 2017
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“Bugstock 3: VDubs for Me!” will take place from 12 p.m. to 4 p.m. at Twin Hickory Park. Return again to the 1960s and a groovy afternoon of tie-dye, flower power and Volkswagon Bugs and Buses. Enjoy 60s family fun, music, food trucks and games, including hula hooping. This free event is exclusively for Volkswagons of all vintages and styles, classics and mods. Awards will be presented in multiple categories at 3:30 p.m. Admission is free. For details, call 501-7275 or email .(JavaScript must be enabled to view this email address). Full text

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