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Transportation equipment industry

Regional Businesses and Economic Developments

Strategic Insights

— 2 min read

Food Lion, a US-based grocery store chain, plans to open two new locations in Roanoke within the next year. The company's first new store, situated in a former Harris Teeter at Southwest Plaza, is expected to open by the end of the year. This location will occupy a CVS next door once the pharmacy moves out. Building renovations are currently underway. The second new store, scheduled for early 2000, will be located at Shenandoah Avenue and Peters Creek Road. SunTrust Banks, a financial services company, will consolidate its mortgage banking operations in Richmond, resulting in the transfer of 160 to 220 jobs from Atlanta to Richmond. Ford Motor Company achieved its best March sales ever, with a 14% increase from March 1998. The company's sales of F-series pickups, the nation's top-selling vehicle for 17 years, reached a record high.

Key Takeaways:

  • Food Lion plans to open two new stores in Roanoke within the next year: one at Southwest Plaza by the end of the year, and the other at Shenandoah Avenue and Peters Creek Road in early 2000.
  • SunTrust Banks will consolidate its mortgage banking operations in Richmond, moving 160 to 220 jobs from Atlanta to Richmond.
  • Ford Motor Company achieved its best March sales ever, with a 14% increase from March 1998.
  • The company's sales of F-series pickups, the nation's top-selling vehicle for 17 years, reached a record high, with 85,686 units sold in March.
  • Ford's sales of light trucks increased 19% to set a record for any month, while SUV sales were up 11% and total pickup sales were up 28%.
  • The 68-room Budgetel hotel on Virginia 419 in Salem has been converted to a Baymont Inn as part of a national program to rebrand the Budgetel chain.
  • Airports worldwide handled more than 2.8 billion passengers last year, an increase of 2.9%, despite the Asian economic crisis.
  • Perona Farms is recalling all varieties of its smoked salmon dip due to potential listeria contamination.

Statistics:

  • 160-220 jobs will be transferred from Atlanta to Richmond as a result of SunTrust Banks' consolidation of mortgage banking operations.
  • Ford Motor Company's March sales were up 14% from March 1998.
  • The company's sales of F-series pickups reached a record high, with 85,686 units sold in March.
  • Ford's sales of light trucks increased 19% to set a record for any month.
  • SUV sales were up 11% and total pickup sales were up 28% in March.
  • 2.8 billion passengers were handled by airports worldwide last year, an increase of 2.9%.

Sources:

  • Food Lion spokeswoman Chris Ahearn
  • SunTrust Banks spokesman Barry Koling
  • Ford Motor Company press release
  • Airports Council International
  • Perona Farms recall notice
  • The Marcus Corp. press release
  • US Census Bureau
  • Federal Aviation Administration

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