ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, July 11, 1996 TAG: 9607110061
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
RICHMOND - Virginia got a B average in three categories grading its economic development efforts, according to a report released Wednesday by a nonprofit group.
``Virginia's economy is one of the strongest in the South,'' the Corporation for Enterprise Development said in its 1996 Development Report Card for the States.
The state earned an A in economic performance, unchanged from 1995; B in business vitality, up from C; and C in development capacity, one grade lower than a year ago. Morgan Stewart, spokesman for the state's economic development agency, said he had not seen the report and could not comment.
The Corporation for Enterprise Development, based in Washington, D.C., has compiled the report for 10 years. The study was funded by several unions and foundations and proceeds from sales of the information.
The group credits Virginia's ``vibrant and improved job market'' as the reason for the A in performance. Short-term employment growth was eighth-best in the country, the report said.
The high mark in vitality was attributed to a sharp increase in formation of new companies and a decrease in business closings - from 10th worst to 13th best nationally.
A decline in financial resources, including a drop from 25th to 45th nationally in industrial loans, pushed the development capacity grade down a notch, the group said. |-Associated Press B.I. Chemicals
to grow in Virginia
PETERSBURG - B.I. Chemicals said it will expand its operations in Virginia.
The Petersburg-based company plans to put its new Specialties Division in Winchester and make products used in the plastics industry there.
The 30,000-square-foot facility will employ more than 20 workers.
B.I Chemicals is a subsidiary of Boehringer Ingelheim, a pharmaceutical, chemical, animal health and bakery product manufacturer with operations in more than 100 countries. |-Associated Press
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