09.19.2014  |   | Subscribe  | Contact us

All News & Blogs

E-mail Alerts

Second-quarter economic review for the Fredericksburg area
A recap of the biggest business stories in the region over the past three months.

Date published: 7/21/2011

BY BILL FREEHLING

Here were some of the business stories making news in the Fredericksburg region during the second quarter of 2011:

Two local bookstores—Joseph–Beth Booksellers at The Village at Towne Centre and Borders at the Stafford Marketplace—bite the dust. Books-A-Million will take the place of Joseph–Beth at the Spotsylvania mall. Borders was set to be liquidated as early as Friday.

CVS lays off about 100 people at its Lansdowne Road distribution center in Spotsylvania County as the drugstore giant prepares to open a new distribution center in Chemung, N.Y., which will cover some of the territory now served by the Spotsylvania facility.

Building boom continues in North Stafford as BRAC jobs start moving to a new 719,000-square-foot facility off Telegraph Road, and their defense contractors follow.

City pares courthouse proposals down to three and agrees to buy riverfront land using a $200,000 grant from the Fredericksburg Economic Development Authority.

Area homebuilders and suppliers team up to build homes for wounded veterans in Stafford County.

Stafford Economic Development Authority makes $75,000 grant to help Germanna Community College move its automotive-training program to Stafford and pledges $1 million toward permanent Stafford campus for Germanna.

Several national homebuilders including Ryan and K. Hovnanian buy dozens of lots each in the region perhaps sensing better days ahead.

The Walton Group looks at buying parcel in Spotsylvania.

Joint Warfare Analysis Center at Dahlgren in King George loses 155 jobs due to federal defense cutbacks.

The University of Mary Washington Foundation plans a new hotel at Eagle Village and prepares to build a road connecting development to Mary Washington Hospital campus.

Walmart settles on new site for Orange County store that’s farther from Wilderness Battlefield.

Walmart also prepares to open new store near Dahlgren in King George.

Downtown Fredericksburg sees its share of demolition—including the former apartment building at 1200 Prince Edward St., a fire-damaged home at 1407 Caroline St. and the former Fredericksburg Hardware store on William Street.


1  2  Next Page  

BY THE NUMBERS

Here is a look at some local economic indicators during the second quarter. Unless otherwise noted, the data are for Fredericksburg, Caroline, King George, Stafford and Spotsylvania. We use the latest data available.

Home-building permits*

Jan.-April 2011: 296
Jan.-April 2010: 397
*This is for single-family detached homes and also includes Orange County.
—Source: Fredericksburg Area Builders Association

Home sales

June 2011: 453
June 2010: 539 Source: Metropolitan Regional Information Systems Inc.

Median housing prices

June 2011: $212,000
June 2010: $220,000
Source: Metropolitan Regional Information Systems Inc.

Unemployment rate
May 2011: 5.8 percent
May 2010: 6.4 percent
Source: Virginia Employment Commission

New vehicle registrations

Q2 2011: 3,927
Q2 2010: 3,246
Source: Virginia Automobile Dealers Association

Local sales tax receipts
Jan.-May 2011: $15.07 million
Jan.-May 2010: $14.65 million
Source: Virginia Department of Taxation