Business news

M.O. Stevens, via Wikimedia Commons

CHESAPEAKE, Va. (AP) — Discount store Dollar Tree plans to spend $110 million to expand its Virginia headquarters.

Gov. Terry McAuliffe announced the expansion Wednesday, saying it will create 600 new jobs in the next six years.

McAuliffe approved more than $9 million in grants for the expansion, which he said will help the state's economy.


BERLIN, Md. (AP) — A Kentucky racing company and a New York casino firm will buy the Ocean Downs casino and racetrack.

Churchill Downs Inc. and Saratoga Casino Holdings LLC announced Tuesday that they formed a joint venture to buy Ocean Downs

Ocean Downs, a 67-year-old facility, takes up 168 acres of land in Berlin on the Eastern Shore. It has 800 video lottery terminals and electronic game tables, and has harness racing. It employs about 235 workers.

RICHMOND, Va. (AP) — Virginia is ramping up efforts to promote its agriculture and forestry products worldwide.

Gov. Terry McAuliffe says the state will open two new trade representative offices in Singapore and Dubai.

The state is also hiring a new Richmond-based staff member who will oversee the expanded trade effort. The state is spending $850,000 over the next two fiscal years on the initiative.

Virginia currently has representative offices in Canada, Latin America, Europe, India and China.

RICHMOND, Va. (AP) — Virginia's Bureau of Insurance says a proposed merger between health insurance giants Anthem and Cigna would be bad for consumers.

The bureau issued recently issued its analysis ahead of a decision by the State Corporation Commission whether to approve Anthem's $54 billion acquisition of Cigna.

The Richmond Times-Dispatch reports (http://goo.gl/PvjiAt ) that an Anthem spokesman said the company disagreed with the bureau's findings but was willing to work with the state to alleviate any concerns.

WILMINGTON, Del. (AP) — The Chemours Co., a chemicals business spun off from the Dupont Co. last year, says it will keep its global headquarters in Wilmington.

State officials and members of Delaware's congressional delegation welcomed Tuesday's announcement from Chemours, which means hundreds of jobs will stay in Delaware.

Chemours CEO Mark Vergnano says the company considered several locations for its headquarters, including New Jersey and Pennsylvania, before deciding to remain in Wilmington.