Austrian life sciences firm Ringana has made the United States the target of its next international expansion push, but first it needed a U.S. corporate headquarters to operate from. It has found the perfect location, and you won't be surprised to hear it is not in Montgomery County, or even within the state of Maryland. You also won't be surprised to learn that Virginia is once again the winner in this latest corporate HQ sweepstakes. That's right: 435 jobs are on the way from the Österreich to 2797 Frontage Road NW in Roanoke, Virginia. The former Johnson & Johnson site will not only house corporate offices, but also a manufacturing facility and a distribution center.
The deal was apparently secured when Virginia Governor Abigail Spanberger invited Ringana corporate leadership to meet with her personally this past February. In contrast, Maryland Governor Wes Moore has failed to turn his supposedly-massive Rolodex of Wall Street, Hamptons, and Martha's Vineyard business contacts into a single major corporate headquarters win. After an awkward few months dominated by divisive partisan politics, Spanberger seems to have found the blueprint left behind by her Democratic predecessors, who have typically been as successful in attracting corporate headquarters as their Republican counterparts.
“RINGANA’s decision to establish its first U.S. facility in Virginia underscores the Commonwealth’s reputation as a welcoming, premier destination for international investment,” Spanberger said in a statement. “With our world-class workforce, strong apprenticeship and career training programs, and unwavering commitment to supporting global companies in a global marketplace, Virginia offers the ideal environment for businesses to grow and succeed in the United States. We are excited to welcome RINGANA to Roanoke and look forward to the hundreds of career opportunities this partnership will create for Virginians.”
We should take note of the site chosen by Ringana. Look how close it is to Roanoke-Blacksburg Regional Airport, which has connecting flights to Dulles International Airport. Also nearby is Interstate 81, a major freight trucking route connecting Tennessee and Canada. Once again, Virginia tax advantages join with infrastructure to hand Maryland and Montgomery County yet another economic development loss. MoCo and Maryland elected officials will tell you with clownish pride that "we don't do highways," and that they will never allow construction of the long-delayed new Potomac River crossing to the Dulles area.
Now before we get too carried away, I don't want to overhype Ringana. We should be focused on major corporations, especially on aerospace, biotech, defense, and technology firms. Ringana is not a Fortune 500 company. But it has enjoyed $245 million in annual revenue, and 30% year-over-year revenue growth. It will be investing $85 million in Virginia and its people and communities. The Roanoke Regional Partnership is already working to connect local businesses that can provide services to Ringana with the company's leadership.
Beggars can't be choosers. Montgomery County and Maryland once again are left holding their nearly-empty begging cups.
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