A Byrd Newspapers Publication
Volume 18, No. 3, January 31, 2017
Virginia Is For
Retirees State Ranked Best Place In Nation To Retire
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SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
Inside This Issue The Shenandoah Valley Business Journal is a monthly publication of Rockingham Publishing Company, Inc., 231 S. Liberty St., Harrisonburg, VA 22801.
Focus Section: Retirement ■ State Ranked Top Place To Retire....................Page 8
Other Business News
Editorial Staff
■ New Businesses Shape City, County....................Page 6
Managing Editor: Jerry Blair
■ Shenandoah County Taps New Director...........Page 13
■ Local Ledger................................................Page 12
■ Car Sales Fuel Record Year In City.....................Page 15
Contributing Photographers: Daniel Lin, Holly Marcus, Nikki Fox
Brown Edwards Taps Partner ROANOKE — Brown Edwards recently announced that a James Madison University graduate has been chosen as the CPA firm’s next managing partner, succeeding Don Pellillo, who is stepping down after 16 years in the role. According to a company press release, Jason Hartman is assuming the position as managing partner. Hartman Hartman joined Brown Edwards in 1986, and has since developed the firm’s local government practice, according to the release. Additionally, he has been
Contact us By mail: Shenandoah Valley Business Journal P.O. Box 193 Harrisonburg, VA 22803 By email: svbjnews@dnronline.com
■ Virginia’s Wine Sales See Rise........................Page 4
Editor and General Manager: Peter S. Yates
Staff Writers: Vic Bradshaw, Kelly Clark
Harrisonburg, Va.
Columns ■ Financial Focus with Kathy Armentrout..........Page 3
responsible for leading the firm’s credit union practice and has managed its Roanoke office since 2008, the release says. Pellillo will remain a partner with Brown Edwards, the fifth-largest CPA firm in the U.S., according to the release. The firm has offices in Virginia, including in Harrisonburg, as well as locations in West Virginia and Tennessee. Hartman holds degrees from Glenville State College as well as from JMU. His wife, Christie Hartman, is executive director of James Madison’s Office of Environmental Stewardship and Sustainability. They live in the Roanoke area with their son, Elmer. — Staff Reports See SHAKERS, Page 5
Hodge, Yoder, WAW Named Best HARRISONBURG — Two Wharton Aldhizer & Weaver lawyers and the entire firm were recognized in November for their work, according to news releases. Best Lawyers, a peer-review publication for the legal profession, named Glenn Hodge as Lawyer of the Year in real estate law and Marshall Yoder as the top lawyer in family collaborative law for the Charlottesville region, which includes Harrisonburg. Only one lawyer is recognized in each practice area. The Harrisonburg-based law firm also was named to the Best Law Firms list released annually by U.S. News & World Report and Best Lawyers. It was the seventh straight year the firm has been recognized.
By fax: 433-9112 By phone: 574-6267 (news) 574-6229 (ads) On The Cover: Yolanda Gerard (right) works on a puzzle with her neighbor, Sally Kiser, in the Hearthstone Manor apartment building at Bridgewater Retirement Community. Daniel Lin / DN-R
It was ranked among the top firms in the family law, labor and employment litigation, professional malpractice defense, corporate law, trust and estates, real estate law, commercial litigation, corporate law, healthcare law, labor law for management, employment law for management, medical malpractice law for defendants, personal injury litigation for defendants, and bankruptcy and creditor-debtor rights in insolvency and reorganization law. — Vic Bradshaw
Saufley, Farm Bureau Recognized HARRISONBURG — The Rockingham County Farm Bureau and one of its members were presented awards See SCENE, Page 3
Harrisonburg, Va.
SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
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What’s Smarter: Paying Off Debts Or Investing? If you’re just starting out in your career, you will need to be prepared to face some financial challenges along the way — but here’s one that’s not unpleasant: choosing what to do with some extra disposable income. When this happens, what should you do with the money? Your decisions could make a real difference in your ability to achieve your important financial goals. Under what circumstances might you receive some “found” money? You could get a year-end bonus from your employer, or a sizable tax refund, or even an inheritance. However the money comes to you, don’t let it “slip through your fingers.” Instead, consider these two moves: investing the money or using it to pay off debts. Which of these choices should you pick? There’s no one “right” answer, as everyone’s situation is different. But here are a few general considerations: Distinguish between “good” and “bad” debt. Not all types of debt are created equal. Your mortgage, for example, is probably a “good” form of debt. You’re using the loan for a valid purpose — i.e., living in your house — and you likely get a hefty tax deduction for the
interest you pay. On the other hand, nondeductible consumer debt that carries a high interest rate might be considered “bad” debt, and this is the debt you might want to reduce or eliminate when you receive some extra money. By doing so, you can free up money to save and invest for retirement or other goals. Compare making extra mortgage payments vs. investing. Many of us get some psychological benefits by making extra house payments. Yet, when you do have some extra money, putting it toward your house may not be the best move. For one thing, as mentioned above, your mortgage can be considered a “good” type of debt, so you may not need to rush to pay it off. And from an investment standpoint, your home is somewhat “illiquid” — it’s not always easy to get money out of it. If you put your extra money into traditional investments, such as stocks and bonds, you may increase your growth potential, and you may gain an income stream through interest payments and dividends.
Financial Focus Kathy Armentrout Consider tax advantages of investing. Apart from your mortgage, your other debts likely won’t provide you with any tax benefits. But you can get tax advantages by putting money into certain types of investment vehicles, such as a traditional or Roth IRA. When you invest in a traditional IRA, your contributions may be deductible, depending on your income, and your money grows on a tax-deferred basis. (Keep in mind that taxes will be due upon withdrawals, and any withdrawals you make before you reach 59½ may be subject to a 10 percent IRS penalty.) Roth IRA contributions are not deductible, but your earnings are distribut-
ed tax-free, provided you don’t take withdrawals until you reach 59½ and you’ve had your account at least five years. Clearly, you’ve got some things to ponder when choosing whether to use “extra” money to pay off debts or invest. Of course, it’s not always an “either-or” situation; you may be able to tackle some debts and still invest for the future. In any case, use this money wisely — you weren’t necessarily counting on it, but you can make it count for you. This article was written by Edward Jones for use by Kathy Armentrout, a financial adviser with Edward Jones at 560 Neff Ave., Suite 100, Harrisonburg; 540-574-1013
Saufley A Member Of Virginia Farm Bureau Federation Board For 21 Years Scene
FROM PAGE 2
during the Virginia Farm Bureau Federation’s annual convention. Port Republic’s Steve Saufley was one of three longtime volunteers presented a Distinguished Service Award for their service to the organization during the convention, which was held at The Omni Homestead Resort in Hot Springs in November. Saufley’s been a member of the VFBF board of directors for 21 years, is past president of the Rockingham County Farm Bureau. He’s also been chairman of the VFBF’s Ornamental Horticulture and Rural Health advisory committees and served on its Investment and Finance Committee. The county Farm Bureau organization was honored with a New Horizon Award for its efforts to educate the public and promote agriculture via a new program, the Farming Leaders Conference held in March at Blue Ridge Community College.
The VFBF is the state’s largest agriculture advocacy organization.
prove water quality in the Chesapeake Bay watershed.
— Vic Bradshaw
— Vic Bradshaw
visit www.valleysbdc.org. — Vic Bradshaw
Funding Targets Small Dairy
Local Start Smart Workshops Set
HARRISONBURG — Sustainable Chesapeake has received nearly $4.6 million to work with up to 100 small dairy farms in Virginia and Maryland to develop and implement comprehensive nutrient management plans. According to a news release from the U.S. Department of Agriculture, the award was one of 88 made nationally totaling $225 million as part of its Regional Conservation Partnership Program. Partners involved in the effort have proposed an additional $500 million in contributions toward conservation efforts aimed at areas that include improving water quality and soil health and protecting agricultural viability. Sustainable Chesapeake’s effort, which includes 15 partners, aims to im-
HARRISONBURG — The Shenandoah Valley Small Business Development Center will offer two more Start Smart workshop in February to provide tips about starting a business to new or aspiring entrepreneurs. The workshop provides information for new or potential business owners that think they might have missed a few basics, covering registrations, regulations, the components of sound business planning, financial projections and other key areas. Sessions are scheduled from 11 a.m. to 1 p.m. Feb. 9 at the Ice House complex in downtown Harrisonburg and 1 to 3 p.m. Feb. 21 at the Augusta County Government Center in Verona. The workshop fee is $25. To register,
Local Remodeling Firm Honored HARRISONBURG — Classic Kitchen and Bath has received national recognition from Houzz, an online home remodeling and design platform. The Harrisonburg business received a Best of Houzz award for its customer service, according to a news release. The award is based on the number of quality reviews a business received during the year and other factors. In addition to customer service, the website annually recognizes one winner the design and photography categories. More than 40 million unique users from the remodeling, homebuilding and design industries turn to Houzz every month. — Vic Bradshaw See SCENE, Page 12
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Tuesday, January 31, 2017
SHENANDOAH VALLEY BUSINESS JOURNAL
Virginia Vintage
Harrisonburg, Va.
Local Farmers See Green From Harvesting Grapes
By VIC BRADSHAW Daily News-Record
HARRISONBURG — The economic impact of the wine and wine grape industry increased 83 percent between 2010 and 2015, according to a recently released study, and a number of local businesses are helping fuel that growth. The California-based Frank, Rimerman + Co. accounting firm, which specializes in wine-industry studies, was commissioned by the Virginia Wine Board to measure how much the industry affects Virginia. It found that the wine industry was worth $1.37 billion to the state’s economy, up from $747 million five years earlier, and supports 8,218 full-time equivalent jobs, an increase of 3,465 over 2010. The retail value of Virginia wines sold grew $56 million to $129 million, while wine-related tourism spending increased to $188 million from $131 million. Rockingham County has four wineries: Bluestone Vineyard in Bridgewater and CrossKeys Vineyards, Marceline Vineyards and Purple Wolf Vineyard in Cross Keys. As the number of wineries and vineyards grow in the county and around the Shenandoah Valley, so does wine-related tourism, Michele Bridges said. “More travelers are coming in to experience our locally grown wines,” said Bridges, Rockingham County’s economic development and tourism manager, “and we’re seeing the quality of wines become really competitive with larger wine regions.” The vineyards have been popular stops along the Fields of Gold regional agritourism trail, she noted. The Shenandoah Spirits Trail was launched last year to highlight Valley wineries, craft breweries, cideries and distilleries operating from Rockingham County north to the state line.
Variety Pays Curt Hartman, president of Bluestone Vineyard, said the growth of the industry locally is helping his business. Hartman said John Cooper, former owner of Cooper Vineyards in Louisa, has long said that wines from California, Australia, Spain and elsewhere are his competition, not Virginia vintages. As more vineyards have opened in the commonwealth, it has become a destination for oenophiles. “As the reputation and quality of Virginia wines continues to get better,” he
Nikki Fox / DN-R
Seth Obrecht of Harrisonburg shops for wine at the Valley Pike Farm Market in Weyers Cave. The wine and wine grape industry increased its economic impact by 83 percent between 2010 and 2015. said, “we see more and more people coming into the market for wine weekends and to buy Virginia wine.” Sales continue to grow for the Bridgewater winery that began production in 2009. Hartman said the sales increases over the last few years have been driven mostly by wholesale purchases by stores and restaurants, though tasting room sales continue to rise. Bluestone is fortunate to be in the middle of the Shenandoah Valley for two reasons, he said. The region’s acclaim as a great place to grow grapes continues to grow, and the Valley has a decadeslong reputation as a great place to visit. “The Virginia wine industry’s good,” said Hartman, “and it’s growing.” The Valley Pike Farm Market in Weyers Cave has been cashing in on the growing popularity of Virginia wines since
opening Aug. 22. Katie Yount, the market’s director of engagement, said it offers products from 230 Virginia wineries but highlights three local ones — Bluestone, CrossKeys and Barren Ridge Vineyards in Fishersville. Valley Pike has more than 300 different wines available at any time, all Virginia products, and can draw from about 230 wineries, she said. It always has four wines on tap, including one from each of the three local vineyards, for customers to sample. “Our clients are loving the fact that they can come here and have wines from so many different vineyards in one location,” Yount said. “We’re getting remarkable support, especially from wine lovers.” With the business being new and no similar shop in Weyers Cave, she said, no one knew whether customers would em-
brace Virginia wines. They’ve been so popular that Valley Pike hopes to grow its inventory to more than 400 different wines. “Community members really did want a place they could come and sit and enjoy different glasses of wine,” Yount said. “It’s really good for us to work with the vineyards and in essence local farmers to be able to sell their products.” Vineyards have also provided Rockingham County a way to diversify its agricultural base, said Bridges, and they’re also becoming sought-after venues for weddings and other special occasions. “The county is really excited to see the growth in local vineyards,” she said. “We continue to have new farms looking to grow grapes or start up vineyards.” Contact Vic Bradshaw at 574-6279 or vbradshaw@dnronline.com
SHENANDOAH VALLEY BUSINESS JOURNAL
Harrisonburg, Va.
First National Picks New Board Member Shakers
FROM PAGE 2
First National Taps Board Member HARRISONBURG — Boyce Brannock has been selected as a new board member to First National Corp. (OTC: FXNC) and its wholly owned subsidiary, First Bank. An Augusta County native who graduated of the University of Richmond and the University of Virginia School of Law, Brannock is Brannock a partner with the Staunton law firm Timberlake, Smith, Thomas & Moses. He focuses on business law, real estate law, estate planning and commercial transactions. First National Corp. is headquartered in Strasburg. Locally, First Bank operates branches in Elkton, Mount Jackson, Strasburg and Woodstock and a loan-pro-
cluding three in Harrisonburg and one in Woodstock.
Smith To Lead DCCU’s Retail HARRISONBURG — Tara Smith has been named chief retail officer for Dupont Community Credit Union. Smith previously was the vice president of retail at Orion Federal Credit Union in Memphis, Tenn., according to a news release. She’s also worked at credit unions in Nevada, Virginia, Michigan and Missouri. Smith She will head the regional credit union’s retail business operations, marketing and community development efforts. Headquartered in Waynesboro, DCCU operates 15 branches in the region, in-
cal office is at 4030 Quarles Court. — Staff Reports
Kyger Earns Financial Certification HARRISONBURG — Josh Kyger, a financial adviser with The Myrias Group, a private wealth advisory practice of Ameriprise Financial Services Inc. in the Harrisonburg area, recently obtained his financial planner certification, according to a company press release. To earn the certification, Kyger completed coursework and a series of examinations covering financial planning, risk management, investments, tax planKyger ning and management, retirement and employee benefits, and estate planning. According to the company, Kyger is originally from the Broadway-Timberville area. Ameriprise Financial Services Inc.’s lo-
Welsh Elected To Va. Bar’s Board HARRISONBURG — Cathy Welsh, an attorney with Lenhart Pettit’s Harrisonburg office, has been elected to the Virginia Bar Association’s board of governors. Welsh was elected to a three-year term to represent the bar’s Blue Ridge region, which covers the 16th, 20th, 25th and 26’s judicial circuits. The board manages bar association business. She concentrates on the practice of employment law. — Vic Bradshaw
Crossroads Names New Director HARRISONBURG — Crossroads to Brain Injury Recovery has announced that Tamara Wagester is the nonprofit’s new executive director. Wagester, who assumed the position in January, earned an undergraduate degree from Michigan State University and studied See SHAKERS, Page 13
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Tuesday, January 31, 2017
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Tuesday, January 31, 2017
SHENANDOAH VALLEY BUSINESS JOURNAL
Harrisonburg, Va.
A Shifting Skyline New Businesses Bring Change, Growth To City By VIC BRADSHAW Daily News-Record
Daniel Lin / DN-R
Construction crews begin framing the new Olive Garden on Burgess Road in Harrisonburg on Jan. 18. The construction of the Olive Garden, in addition to a new Harrisonburg Krispy Kreme location on the former Shoney’s site at the corner of East Market Street and Burgess Road, has begun to change the East Market corridor.
definable change in the center of the marketplace for our community,” said David Lee of Lee & Associates. “It’s shifted. The emphasis now straddles both the city and county line. “You can see it now. You don’t have to have to speculate on it. For me, that’s the No. 1 thing that came out of the 2016 real estate market.”
HARRISONBURG — The past year, three local commercial real estate agents say, will go down as one in which it became easier to see changes in several areas starting to take shape. The East Market Street corridor began to change, with Krispy Kreme rising on the former Shoney’s site at the East Market Makeover corner of East Market Street and BurEast Market’s changes began with gess Road and the Best Western Harri- Krispy Kreme and Olive Garden, but sonburg Inn being demolished they won’t end there. next door to make way for the Though it’s announced no Olive Garden under construcplans yet, international gro“You can see tion. cery giant Aldi bought 8 acres it now. You Southeast of downtown, the at the corner of East Market don’t have to and Country Club Road, predeveloping Port Republic Road and Stone Spring Road corri- speculate on it. sumably for a store and other For me, that’s retail space. SunTrust Banks dors continue to come into focus. the No. 1 thing Inc. also announced it would Wal-Mart Neighborhood that came out close its branch at the corner Market and Wendy’s opened of East Market and University along Port Republic in 2016; of the 2016 real Boulevard on Jan. 31, putting The Reserve at Stone Port be- estate market.” a prime parcel in play. gan work on the second and Aston Properties sold the — DAVID LEE third phases of its upscale building that houses Gabe’s LEE & ASSOCIATES apartment complex; Farmand Hobby Lobby, but it reers & Merchants Bank is untained a portion of the lot der construction along Stone along East Market that can be Spring; and DuPont Community Credit developed. Union plans to open nearby. Tim Reamer, an agent with CottonAnd construction began on Hotel wood Commercial, said the scarcity of Madison and Shenandoah Valley Con- land along the street has pushed prices ference Center, two buildings that above $1 million an acre. might redefine what’s considered downBuilding upgrades and other imtown and lead to major changes along provements, he said, are in the works nearby streets. for the corridor. The changes are part of an ongo“There is a ton of good stuff going on ing shift in where Harrisonburg and on East Market,” Reamer said. “We’ll Rockingham County residents will live, continue to see what small pieces of work, dine and shop, the real estate land come available, either repurposed agents agreed. See SKYLINE, Page 7 “I think what came out of 2016 is a
Classifieds get results call 574-6210
Harrisonburg, Va.
SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
7
More Development Coming To City Skyline
FROM PAGE 6
or utilized for national retail use.” Mike Hendricksen, chief operating officer for Matchbox Realty and Management Services, said he expects more buildings along the street to go the way of Shoney’s and Best Western in the near future because many structures are nearing the end of their life cycle, making redevelopment preferable to renovation. The heavy development, Lee said, has been confined to the area between Chestnut Ridge Drive and downtown. However, he thinks the corridor could stretch eastward sometime in the next few years.
Southeast Surge While a lot has happened in the Port Republic-Stone Spring area, a lot more is coming. Land has been bought for a Moe’s Southwest Grill in the Stone Port Retail Park, and other deals are in the works. Reamer listed eight single-family, multifamily or student housing developments that have been built, are in construction or are planned for roughly a two-mile radius of the Port Republic-Stone Spring intersection. With commercial development typically following residential growth, the area is ready for action. “With all the residential growth that’s happened and likely will continue to happen on east/south side of the city and a primary commuter road running through there along with some traffic generators, that’s an area that makes a whole of lot sense,” he said. “A lot of retailers are considering Stone Port now as a first location. “I think that’s a very positive sign for our market overall. We have more depth than just East Market Street. The Harrisonburg market is more than just that corridor.” At one time, Lee said, it took a great sales job to get a client to consider setting up shop in Rockingham County, even near the city limits. But the residential growth to the southeast has made Rockingham competitive, with clients looking more closely at taxes, land prices, zoning and
Daniel Lin / DN-R
Construction crews begin to frame the new Olive Garden on Burgess Road in Harrisonburg on Jan. 18. The project is part of an ongoing shift in where city and county residents will live, work, dine and shop. for a restaurant, a nanobrewery and services offered by the localities. “More people that used to be city beer-making retailer and three apartonly are now considering the county,” ments. Matchbox recently purchased two he said. “You, as a business or retailer, have a city option and a county option properties for redevelopment, Hendricksen said, with the renovation of now. the former Keezell Building at “That whole area is being 122 S. Main St. underway. redefined. What we have hapThe hotel and conference pening there is a pretty sig“More people nificant spillover into Rock- that used to be center, combined $46 million projects being built at the coringham County, which will be city only are ner of South Main Street and interesting to see.” now considering Martin Luther King Jr. Way, the county.” Downtown Shift? will reshape the area around Activity in downtown Harthem, the real estate experts — DAVID LEE predict. risonburg was modest in the LEE & ASSOCIATES past year, with the completThey said increased foot ed renovation of the former traffic in the area likely will Chesapeake Western Railway result in some nearby homes depot on West Bruce Street into retail being torn down to make way for mixedand office space being the major project use buildings. completed during the year. “I’d be surprised,” Lee said, “if those New construction at the corner of older buildings are there in 10 years.” Mason and East Market streets that’s Reamer said he expects an increase nearing completion will provide space in new construction soon because in-
ventory in all commercial sectors, especially retail, is at or near historic lows. Commercial activity might not be confined to Harrisonburg or areas just outside the city, he added. Wal-Mart opened a supercenter in Timberville in 2016, and some national brands now view small towns as potential growth areas. Looking ahead, Hendricksen expects 2017 to be another busy year. “We’ve got a lot of people who have been poking around the area for a while,” he said. “I think they may get to the point where they can pull the trigger on some projects, or make some announcements. “We should see some national retail-type stuff, but I also hope we end up seeing some local sort of unique development taking place at the same time.” Contact Vic Bradshaw at 574-6279 or vbradshaw@dnronline.com
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Tuesday, January 31, 2017
SHENANDOAH VALLEY BUSINESS JOURNAL
Harrisonburg, Va.
‘I Was Blown Away By Virginia’ State Ranked Top Place To Retire In 2015, 2016 By VIC BRADSHAW Daily News-Record
HARRISONBURG — For the Zehrs, it was familiarity with the area and the amenities they found in their community. For the Gerards, it was the small-town surrounding their community and its flat topography. For the Engels, it was a warmer climate and a backyard. And, not insignificantly, all three couples had a child and a grandchild in or near Harrisonburg. Holly Marcus / Special to the DN-R People retire to Virginia, and specifJoan Engles and her husband, Bill, retired to a home in Sunnyside Retirement Community in ically the Harrisonburg area, for many Rockingham County from Vermont. Bill and Joan both found Vermont to be too cold. “I was blown reasons. According to a report by a Boston-based financial planning company, away by Virginia,” Bill said.
retirees who settle in the Old Dominion couldn’t find a better place. In its LPL Research Retirement Environment Index, which ranks the attractiveness of all 50 states and Washington, D.C., as retirement destinations, LPL Financial rated Virginia the best state for retirees in 2016. The state also topped the list in 2015, the first year it was published. Rockingham County is the second retirement spot for Bill and Joan Engel. They escaped the hustle and bustle of New York City’s Jersey suburbs for the slower pace of a Vermont mountainside home, but it was too cold for Joan and See RETIRE, Page 9
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Harrisonburg, Va.
SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
9
Virginia Earns ‘A’ For Quality Of Life Retire
FROM PAGE 8
both found it too remote. They started searching for a new home and found it at Sunnyside Retirement Community. They don’t dispute the LPL report’s findings. “I was blown away by Virginia,” Bill said.
The Survey Says ... LPL ranked Virginia among the top five states in what it considered the most important category: financial, which includes the state’s fiscal health and that of its pre-retirees. That category’s “A” letter-grade score accounted for 35 percent in the final ranking. Virginia also earned an “A” in community quality of life, something each of the three couples interviewed for this story said they’ve found in abundance here. That was worth 10 percent in the final analysis. The Old Dominion received a “B” in employment and education and “Cs” in health care, housing and wellness. Virginia ranked just ahead of South
Dakota, with Wyoming, Michigan and Iowa rounding out the top 5. Retirement haven Florida ranked 38th in the 2016 poll and 37th in 2015, with no grade above a “C.” Dr. Loren Zehr was working in Florida when he retired about 20 years ago after a career as a family physician. He and his wife Ethel, her husband’s office manager once their children were in school, stayed in Florida until they moved to Virginia Mennonite Retirement Community in July. They’d known about VMRC since Ethel’s aunt, Martha Ulrich, lived there about 50 years ago; they had children who attended Eastern Mennonite University; and their daughter and son-in-law, Sue and Greg Dean, and grown grandson Josh Dean lived in the Harrisonburg area. Loren Zehr said they have two children in Florida and one each in North Carolina and Pennsylvania. They considered communities in Pennsylvania, Illinois and Holly Marcus / Special to the DN-R Florida before deciding VMRC was where Bill Engles (left) and his wife, Joan, retired to Sunnyside Retirement Community in Rockingham they wanted to be. County from Vermont. Virginia ranks among the top five states in the financial category, which See RETIRE, Page 10 includes the state’s fiscal health and that of its pre-retirees.
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Tuesday, January 31, 2017
SHENANDOAH VALLEY BUSINESS JOURNAL
Harrisonburg, Va.
Family Can Also Be A Draw For Retirees BRC’s offering of continuing care when one of them dies helped seal their deci“I think it was our familiarity with sion, Chuck said. Harrisonburg, the fact that we already The Engels wanted to keep something know some folks in Harrisonburg, to say they’d had in Vermont — a good-sized nothing of family,” he said. “Also, the ame- area in the back of their home — while nities we found here seemed to feel best being closer to civilization. They found it to us for what we expected of this type of when they visited Sunnyside and saw an institutional living.” older house the community was considerThe couple, both in their mid-80s, en- ing demolishing. joy the Shenandoah Valley’s rolling hills “It’s a charming house,” Joan said. “The and scenic views and the cultural and ath- reason it hadn’t sold is it’s two stories.” letic offerings at EMU and James MadiIt didn’t hurt that their son Joseph son University. Loren found a specialist lives in Staunton with his wife, Carissa, he likes at Sentara RMH Medical Center and the youngest of their six grandchilto treat a health issue. dren, 3-year-old Charlie, but they also When they made their decision to have children in the D.C. metro area, New move north, Loren said, everything fell York and New Jersey. into place as if “divinely orchesBill spent his career with trated.” They sold their Florida Engel Van Lines, a business in home within a week of putting it “It’s the people. his family for six generations. It’s the people It once moved an average of 55 on the market, and VMRC had an opening at the same time. all over. We got families a day and did commera different pace cial work for the likes of NASA, Hospitality Bonus including hauling the space capChuck and Yolanda Gerard of life and more sules ridden in by John Glenn, reviewed Virginia, Pennsylva- with Southern Scott Carpenter and Ed White hospitality.” nia and North Carolina retirefrom Pennsylvania to Cape Kenment communities for a counedy in Florida and a special — BILL ENGLES piece of equipment from Pennple of years before opting for RETIREE an apartment at Bridgewater sylvania to California that was Retirement Community. They guarded by armed U.S. Marines. moved in Aug. 1. Joan sold real estate after Chuck, a retired union iron worker, raising the family’s children. and Yolanda, who went to work as a regThe couple, in their mid-70s, moved istered nurse at Sentara Norfolk Gener- about five months ago and said Sunnyside al Hospital once their children reached a and Harrisonburg have provided an unexcertain age, were very familiar with Har- pected bonus. risonburg. “It’s the people. It’s the people all over,” Two of their four children went to Bill said. “We got a different pace of life JMU, and daughter Karen Gerard lives in and more with Southern hospitality, the the area with her husband, Matt Bingay, Southern way.” and 10-year-old son, Alex. Family mattered, but they also have Another Marketing Tool children in Chesapeake, Pennsylvania Marketing and sales directors at the loand South Carolina. cal retirement communities were pleased Chuck said he likes Bridgewater’s Virginia was rated tops for retirees and “small-town feel” and the fact that the weren’t surprised the state is viewed faBRC campus is flat, not hilly. He also likes vorably in an independent analysis. the compactness of the town. “Being in the retirement community “I called a friend in Chesapeake one industry, the life planning industry, we day,” he recalled, “and I told him I’d feel like Virginia is a great place to retire walked to the post office, the bank, my in- to, so it’s great to get that confirmation,” surance office and the hardware store and said Elizabeth McNeal, BRC’s director of was back within an hour. He said not to marketing and sales. tell anyone else down here because they Residents offer many reasons for chooswouldn’t believe it.” ing one of the local communities. Yolanda likes being close to family and Many have family in the area, while appreciates being able to cook at home, others have ties to JMU, EMU or Bridgewalk to a local restaurant or eat in BRC’s dining hall, where she likes the food. See RETIRE, Page 11
Retire
Daniel Lin / DN-R
Chuck and Yolanda Gerard pose on the balcony of their apartment at Bridgewater Retirement Community. The Gerards, originally from Chesapeake, chose to move to Bridgewater for their retirement for the “small-town feel” and proximity to family.
FROM PAGE 9
Harrisonburg, Va.
SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
11
‘You Really Feel Like You’re At Home’ Retire
FROM PAGE 10
water College or are attracted by cultural offerings they provide. Others know of the communities for their religious affiliations — Mennonite (VMRC), Church of the Brethren (BRC) and Presbyterian (Sunnyside). The Shenandoah Valley’s beauty and history, the rural countryside, and the region’s vibrant food and beverage scene are other attractions people mention, the retirement professionals said. Nancy Wayland, Sunnyside’s marketing director, said the community often sells itself. Sunnyside invites potential residents for a multi-day “staycation” during which they visit local attractions, from wineries to downtown Harrisonburg. “When people discover the secret of this area, then they don’t want to leave,” she said. “It’s a combination of everything our area has to offer — the mountains, the people, the warmth of the population. You really feel like you’re at home when you’re here.” Director of sales Jefferson Burgess said
he could see using the report’s findings to further assure a potential resident that VMRC is a wise choice. “It all helps. It definitely does,” he said. “From the standpoint of utilizing and pulling in facts and information that confirm what they’re already interested in, it would make sense to do so.” McNeal said BRC would mention Virginia’s ranking in its monthly email blast and perhaps The Bridge, a quarterly newsletter distributed to people in 43 states. Wayland, though, said the LPL Financial report will become part of Sunnyside’s marketing plan. The community emphasizes lifelong education, and they’ll use it to educate consumers about the value of retiring in Virginia. “Our whole marketing approach is we are the educators,” she said, “so when we see a report like that, we want to have it when we meet with prospects, when meet with the community.” Contact Vic Bradshaw at 574-6279 or vbradshaw@dnronline.com
Visit the VMRC Wellness Center Photos by Daniel Lin / DN-R
ABOVE: Bill Engles look at a mill stone behind his home in the Sunnyside Retirement Community. LEFT: The home’s backyard was one of the features that drew Bill and Joan to the house in the retirement community.
and make it your CHOICE for aging well. Featuring a full fitness gym, senior Olympic-size pool, heated spa, group fitness classes including zumba, yoga, interval training, aqua aerobics and aquatic Tai Chi. vmrcwellnesscenter.org 540-574-3850
The VMRC Wellness Center 1481 Virginia Avenue, Harrisonburg, VA
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SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
Valley Bank Ranked Among Strongest Scene
FROM PAGE 3
First Bank & Trust Recognized ABINGDON — First Bank and Trust Co. has earned a superior rating in a ranking of the nation’s strongest banks, according to a Jan. 23 press release. First Bank and Trust, a diversified financial services firm based in Abingdon with offices in Shenandoah Valley as well as in southwest Virginia, northeast Tennessee and the New River Valley, has earned Bauer Financial’s 5-Star Rating for eight consecutive quarters, according to the release. First Bank and Trust earned the rating for maintaining a strong capital position while fulfilling its commitment to solving the financial needs of it’s the communities it serves, the release says. Bauer, based in Coral Gables, Fla., is the nation’s leading independent bank and bank rating and research firm, according to the release — Staff Reports
Lyft Begins Service In City HARRISONBURG — Rideshare company Lyft begins service in Harrisonburg on Jan. 26, according to a news release. The service can be accessed via a mobile phone application. With a few taps, a vehicle will be dispatched to the pickup point you enter. When the ride ends, passengers pay for the ride and may tip their driver through their phone. New passengers using the service can use the code LYFTLOVE17 to receive $5 off their first ride. Harrisonburg is one of 40 cities in which Lyft began service on Jan. 26. Its goal is to reach 100 new cities in 2017. Based in San Francisco, Lyft is the second rideshare company operating in Harrisonburg. Uber began service in October 2015. — Vic Bradshaw
Classified Ads Get Results — Call 574-6210
Harrisonburg, Va.
Local Ledger Central Valley Area Home Sales Median Price Harrisonburg Rockingham Page Shenandoah Augusta Staunton Waynesboro
Dec. 2016
Dec. 2015
Pct. Change
$176,750 $204,000 $190,000 $162,300 $199,000 $142,500 $149,000
$152,700 $213,725 $175,000 $168,500 $183,500 $149,750 $130,000
15.75% - 4.55% 8.57% - 3.68% 8.45% - 4.84% 14.62%
Days On Market Harrisonburg Rockingham Page Shenandoah Augusta Staunton Waynesboro
Dec. 2016
Dec. 2015
Pct. Change
52 68 290 156 46 49 77
50 34 288 158 62 60 74
4.00% 100.00% 0.69% - 1.27% - 25.81% - 18.33% 4.10%
Units Sold Harrisonburg Rockingham Page Shenandoah Augusta Staunton Waynesboro
Dec. 2016
Dec. 2015
Pct. Change
28 66 16 45 63 34 22
36 48 14 51 73 28 23
- 22.22% 37.50% 14.29% - 11.76% - 13.70% 21.4% - 4.35%
Unemployment Nov. 2016
Oct. 2016
Nov. 2015
4.4% 3.4% 3.6% 5.4% 3.8% 4.1% 4.3%
5.0% 3.7% 3.8% 4.6% 4.0% 4.3% 4.4%
4.4% 3.6% 3.7% 6.1% 3.6% 3.8% 4.4%
Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro
Source: Virginia Employment Commission
Labor Force Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro
Nov. 2016
Oct. 2016
Nov. 2015
23,712 39,225 20,750 11,281 35,596 11,702 9,804
23,867 39,329 20,850 11,328 35,627 11,712 9,813
23,764 39,317 20,666 11,313 36,057 11,891 10,001
Source: Virginia Employment Commission
Building Permits* Nov. 2016
Sources: Funkhouser Real Estate Group; Real Estate Business Intelligence
Retail Sales (in millions) Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro
Nov. 2016
$111.2 $59.7 $37.4 $15.5 $45.9 $33.2 $47.8
Source: Weldon Cooper Center for Economic and Policy Studies
Harrisonburg Rockingham Page Augusta
Nov. 2015
Permits Issued
Estimated Cost
Permits Issued
Estimated Cost
13 51 5 16
$1.65M $12.9M $409,000 $3.39M
7 17 1 14
$820,000 $3.76M $89,000 $1.56M
Source: censtats.census.gov/bldg/bldgprmt.shtml *Permits are for residential construction only, single- and multifamily buildings, as recorded by the U.S. Census Bureau.
Harrisonburg, Va.
SHENANDOAH VALLEY BUSINESS JOURNAL
Tuesday, January 31, 2017
Shenandoah County Taps Director
Witt Left In Nov. Shakers
By KELLY CLARK Daily News-Record
MOUNT JACKSON — The Shenandoah County Chamber of Commerce announced its next CEO and its goals for the next year during its annual awards banquet. A record 140 business owners, county leaders and chamber representatives came to the dinner held on Jan. 17, according to Dawn Funkhouser, president of the chamber’s board of directors. Former President Mike Ashley introduced Sharon Baroncelli as the chamber’s new executive director. She replaces Cheri Wright, who resigned on Oct. 7 after two years on the job due to differences in opinion with the board. Baroncelli is the former executive director of the Front Royal-Warren and the Mount Vernon-Lee chambers of commerce, the latter of which is in Fairfax County. Most recently, she was the director of development for the Emmitsburg, Md.based National Fallen Firefighters Foundation. Baroncelli said she is “very excited” to join the chamber and eager to “focus on the growth and economic vitality of our business members and Shenandoah County.” Ashley also distributed the chamber’s annual awards during the dinner. Lord Fairfax Community College won Large
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Kelly Clark / DN-R
Sharon Baroncelli (left) is the new executive director for he the Shenandoah County Chamber of Commerce. The Shenandoah County annouced Baroncelli’s new role and its goals for the year at their annual awards banquet on Jan. 17. Business of the Year, while the Woodstock Brew House took home Small Business of the Year. LFCC employs more than 230 full-time workers, many of whom live in Shenandoah County, Ashley said. The Brew House opened in July 2015, employs 14 people and has fulfilled its goal of being more than a watering hole, according to co-owner and lead brewer Karl Roulston. “We wanted a place where you could not just come and drink,” he said, “but a place where you can be part of a family.” Keep the Change Food Pantry in Woodstock was named Nonprofit of the Year. Jay Ross, president of the Conicville Volunteer Fire Department, and his wife, Tammy, won Citizen of the Year for their volunteer work with local 4-H clubs and
St. Mary Pine Lutheran Church in Mount Jackson. Ashley listed the chamber’s 2016 accomplishments, which included Route 11 Outfitters’s win in the inaugural Entrepreneur Café and helping the Shenandoah County Fair Associations launch pari-mutuel harness racing in September. Funkhouser said goals for this year include launching new programs for business owners and increasing partnerships with the school division, nonprofits and state and local government. “We’re excited for what 2017 has to bring,” she said. Contact Kelly Clark at 574-6290 or kclark@dnronline.com
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FROM PAGE 5
at George Mason University for her master’s degree in economics. After working as an aide to member of Congress from Michigan and California, she served nearly 15 years as executive director of a national nonprofit that focused on food, agricultural, natural resource, and environmental issues, according to a Crossroads press release. Most recently, she provided independent consulting services researching areas of the nonprofit employment environment. Michelle Witt, who served as Crossroads’ executive director from its start in 2007, stepped down in November. Crossroads to Brain Injury Recovery serves Virginia Planning District 6, which includes Rockingham, Augusta, Bath, Highland, and Rockbridge counties, including the cities located within. The organization combines public and private resources to provide specialized services for people affected by brain injury. For more information, visit Crossroads’ website at www.c2bir.org or call 568-8923. — Staff Reports
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Tuesday, January 31, 2017
SHENANDOAH VALLEY BUSINESS JOURNAL
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Harrisonburg, Va.
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Tuesday, January 31, 2017
15
Pickup, SUV Sales Fuel Record Year In 2016 By VIC BRADSHAW Daily News-Record
shopper out there now, where they will compare those things.”
HARRISONBURG — With gas prices down Financing Affordable from their historic highs and interest rates Nationally, a strong December pushed tovery low, area vehicle buyers apparently tal sales higher for the seventh straight year can’t help but buy trucks and sport utility to a record 17.54 million, according to trade vehicles. publication Automotive News. Pickup and SUV sales drove at least That barely squeezed past the 17.48 three local auto dealerships to record sales million sales recorded in 2015, with 50,000 in 2016, not just following but besting a na- more sales in December 2016 than the pretional trend that saw sales increase slightly vious year accounting for almost the entire over 2015 levels. difference. Eric Myers, sales manager for Dick MyEric Myers said interest in passenger ers Chrysler Dodge Jeep, said new vehicle vehicles is down as the public’s appetite for sales volume and revenue each were up 4 larger rides rises. percent when compared to 2015. The dealerGas prices, which soared to nearly $4 ship also sells Ram-brand trucks. in this decade, have been far less volatile On the used vehicle side, sales in recent years, and Knupp said volume jumped nearly 20 percent that’s made consumers feel more “What drove at the Harrisonburg dealership, comfortable buying larger vehicles according to general manager sales up for us despite their lower gas mileage. Nikki Fox / DN-R Andy Myers. “I think people got over the was people’s “What drove sales for us was fuel issue when fuel in this area FROM LEFT: Hassan Aljubouri of Harrisonburg and his friend Ali Khalaf look over a Chrysler Town interest in people’s interest in SUVs and stabilized at around $2.10, $2.15 and Country minivan for sale as Skip Shank, a sales consultant at Dick Myers Chrysler Dodge Jeep, SUVs and trucks, Jeeps in particular,” Andy a gallon,” he said. “Fuel is not the assists them. Myers said. “The Jeep brand as a trucks, Jeeps in issue.” whole is really doing well.” Interest rates also remain particular. The Scott Elyard, general manag- Jeep brand as a quite low, even for used vehier at Bob Wade Autoworld, said whole is doing cles. Knupp said some “tier one, he’s still finalizing year-end sales top-notch” customers can get a really well.” numbers. But he thinks sales vol1.9 percent interest rate on a ume at the Harrisonburg Subaru late-model vehicle. — ANDY MEYERS and Lincoln dealership will be up Bob Wade Autoworld customDEALERSHIP between 3.5 and 4 percent and ers also have been scooping up GENERAL MANAGER revenue will rise 1.5 to 2 percent used trucks and SUVs, Elyard compared to 2015. said, with sales up a whopping Neither of their brands offer a pickup, he 150 percent year-over-year. said, but Subaru’s all-wheel drive feature is Because it’s the only Motor Trend-cerin demand. Its Outback and Forester cross- tified dealer in Virginia and one of only 17 over utility vehicles are hot, and Lincoln’s nationwide, Elyard said he can get a better recently added MKX and MKC SUVs are mix of vehicles on his lot and customers like popular. buying used vehicles that offer a warranty. “The last two years,” Elyard said, “Suba- If they can maintain an inventory of 80 to 90 ru has been one of the hottest manufactur- used vehicles, he said they typically sell 60 ers out there. It’s hard to keep the product to 65 a month. in, and hard to get enough product you can Local customers aren’t just buying vehisell.” cles. More shoppers at Dick Myers are optJob ads are instantly distributed on a network of 1000’s of leading na onal, niche, and Keith Knupp of Keith’s Auto sales, which ing to lease. local job sites and social networks. has used vehicle lots in Penn Laird and Har“We continue to see added interest in Ad op miza on instantly classifies your jobs and appends keywords and similar tles so your jobs are found by relevant candidates. risonburg, said his 34th year in business leasing, which we had not seen before,” said Real- me Job Matching grades, screens, and ranks applicants meaning less me si ing was his best yet, with revenue and volume Eric Myers. “The manufacturers certainly through irrelevant resumes and more me enjoying life. topping 2015 totals by about 8 percent. The advertise it extensively, and we’ve been tryStart ge ng be er recruitment results today. Contact us by phone or online to discuss two locations sold nearly 13,400 cars in 2016. ing to educate customers a little better on your hiring needs, and we’ll present you with a proposal designed to fit your business Again, trucks and sport utilities fueled how it works so their comfort level is better goals and budget. We look forward to working with you! the record year. than it used to be.” “People are considering the cost of a new one compared to the cost of a good used one,” Contact Vic Bradshaw at 574-6279 Knupp said. “I think there’s a much smarter or vbradshaw@dnronline.com Daily News-Record - 540-574-6210
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Harrisonburg, Va.