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Amazon chooses Virginia for East Coast third-party supply chain hub

Amazon, which already operates 20 distribution, sortation and delivery centers throughout Virginia, has committed to building a cross-dock fulfillment center in Stafford County.

The 630,000-square-foot facility will be one of Amazon’s largest East Coast hubs, and will manage the beginning of its supply chain for sorting, repacking and distributing third-party vendors’ merchandise to other Amazon distribution centers.

Gov. Ralph Northam’s office said Virginia competed with Maryland and North Carolina for the project.

For the Stafford County project, Amazon is eligible for benefits from the Port of Virginia Economic and Infrastructure Development Zone grant program.

The facility is expected to open next summer and will create 500 jobs. Amazon currently has 27,000 employees in Virginia. That is in addition to the more than 25,000 jobs Amazon’s HQ2 in Arlington County will eventually employ.

Amazon’s first fulfillment center in Virginia opened in 2006. More recently, the company announced a robotics fulfillment facility in Suffolk and another robotics fulfillment center in Henrico County near Richmond.

Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

HONG KONG (AP) — Oil prices fell Wednesday and Asian shares were mostly trading lower as South Korea’s Kospi extended its losses after falling more than 16% over the past two days. Crude prices remain volatile after the U.S. said early Thursday it had conducted a “heavy wave” of strikes against Iran, responding to an attack on a U.S. base. U.S. futures edged higher after losses on Wall Street. In South Korea, recent drops in its benchmark Kospi, a big beneficiary of the global boom in artificial intelligence, have been seen by some analysts as a reflection of broader doubts about massive investments by technology giants in expanding capacity for AI.
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