A new $30-million greenhouse operation is expected to create 205 jobs in Virginia over the next five years. Red Sun Farms plans to construct multiple climate-controlled greenhouses to grow organic, hydroponic vegetables by using state-of-the-art technology. Virginia Gov. Bob McDonnell lauded the new business formation as a "game-changing project" that has been a long time coming.
The project will be constructed on 45 acres in a new business park located in Dublin, Virginia. Red Sun Farms will be the first tenant of the New River Valley Commerce Park. The company has operated in Mexico under the name Agricola El Rosal since 2001.
Virginia competed with Tennessee for the greenhouse project. To make its case to Red Sun Farms, Virginia's economic development agency partnered with both county officials and local and regional economic development agencies. The state gave the company $450,000 in incentives in the form of grants from two state funds. The company also will be eligible for state funding and services to support its recruitment and training efforts.
The start of a new business venture in Virginia is an exciting time for any company, but there are many moving parts that will require attention if the project is to succeed. When a company like Red Sun Farms expands into a new state or even a new country, it will need to have an understanding of the laws and regulations of the new jurisdiction. It will face exposure to financial and legal risk as it negotiates real-estate leases, construction contracts and other complex business transactions. Having a trusted legal adviser to assist at every step of the process will help to ensure the project's success.
Source: Virginia Business, "Greenhouse operation to create 205 jobs in Pulaski County," March 15, 2013