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The Asset-Backed Advantage Offered by Mercan Group of Companies

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Nowadays, we deal with the ever-changing financial landscape. Thus, businessmen and entrepreneurs need to come up with various ways not just to grow but secure their assets.

Today, things change fast in the world of investing. People with a lot of money now want ways to grow what they own, but they also want to feel safe.

The way to grow your money is not just by buying stocks, bonds, or real estate anymore. Investors these days want options that feel real and add clear value to their lives, while also helping with their bigger money plans and how they want to live.

This is where Mercan Group gives you something different. The group connects investor visa programs with real-life hotels through Mercan Properties. This way, you get chances that are not like other investment plans. Instead of putting your money into things you can’t see or touch, you can put it into hotels that are running right now. These hotels are backed by world-renowned brands. You can be a part of these projects, too.

This mix of asset-backed investment and ways to get residency has made Mercan a trusted name for people who want global movement and feel good about their money in the long run.

Why Focus on Asset-Backed Investments

Investments that are backed by real things still bring in people who want to invest. These types of investments are tied to projects you can see and feel, and they are active in the real world of money. Unlike deals that are just about taking a chance, these have a base in real things that help with keeping money plans steady for a long time.

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Properties works on building hotel projects. These projects help create many chances for people to invest in the company’s programs. The company sets up these places for people who travel for fun or work. At the same time, these projects let people who invest get into a big business field.

Many people like to know that their money goes into building and running real hotel places, not just money deals. This makes it easy for them to feel sure about where their money is and helps them have many ways to grow their money.

How Connects Investors to Luxury Hotel Developments

A key part of Mercan’s way of working is to connect hotel buildings with chances for investment migration. With Properties, people give money that is then used to build and run top hotels in good spots.

These projects are linked to some of the most well-known hotel brands around the world. People know them for their skill in running hotels, high quality, and being trusted everywhere. When top hotel companies work together on this, they use tried-and-true ways to manage things the right way. They also help these projects get attention from all over the world.

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This way, investors can join projects that are linked to real hotels or places people stay. At the same time, they can work toward getting residency through approved investment programs.

Global Hospitality Partnerships

One thing that makes the model stand out is that it works with well-known and trusted hotel brands.

Here are some examples of hotel groups that people know all over the world:

International Hotel Brand Industry Significance
Hilton Global hospitality leader with extensive international presence
IHG (InterContinental Hotels Group) Diverse portfolio of hotel brands worldwide
Marriott International One of the world’s largest hospitality companies
Holiday Inn Widely recognized hotel brand serving global travelers
DoubleTree by Hilton Premium hospitality brand known for guest-focused experiences

Working with known hotel operators helps build trust in the project. It also helps make sure the hotel runs well for a long time.

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How Supports Smart Wealth Diversification

Modern investors often look for ways to get many benefits from one plan. The model helps with this by offering:

Tangible Asset Exposure

Investments are tied to real hotel projects and not just ideas that you read about or see in theory.

Portfolio Diversification

The hotels and other places to stay can be a good addition to your current investments in different sectors.

Residency Opportunities

Some investment programs can help you move to another country. These can also make it easier for you to travel to other places.

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Professional Development Expertise

Properties is in charge of project development. The team makes sure to focus on good quality. They also look at how well a project can work and if it will last a long time.

Global Brand Associations

Working with well-known hotel brands from around the world helps investors feel more confident about their choice.

Way Stands Out in Investment Migration

When investors look at ways to stay safe, spread out their money, and move around in the world, the interest in asset-backed investments goes up. It uses its skills in building and running hotels, along with plans for helping people move. This makes something special for people from other countries who want to invest.

By bringing together the money from investors and real luxury hotel projects, and working with big brands like Hilton, IHG, and Marriott, mercan group of companies gives people a good way to grow their money in different areas and also get chances for residency. If you want to know more about the investment options or hotel projects from Mercan.

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FAQ

What is an asset-backed investment?

An asset-backed investment is based on real things like hotels or places built for real estate.

What is Mercan Properties?

Properties is a part of the company that works on building hotels. It also gives people a way to invest in these hotel projects.

Why are hotel investments attractive to investors?

They let you get into real-world things and can help you spread out what you own in different ways.

Which hotel brands are associated with Mercan projects?

Projects may have worked with big hotel names such as Hilton, IHG, and Marriott.

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How does Mercan support investment migration?

It brings together good investment chances with help for people on residency and investment migration programs.

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NATO leaders to gather in Ankara, aiming to smooth over tensions with Trump

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NATO leaders to gather in Ankara, aiming to smooth over tensions with Trump


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U.S. Stock Markets Closed Friday as July 4 Holiday Weekend Begins, Many Retailers Open

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Visitors at the Statue of Liberty

U.S. stock markets will be closed Friday in observance of the Independence Day holiday, with major exchanges including the New York Stock Exchange and Nasdaq shutting down for the long weekend as Americans prepare for celebrations.

The federal holiday falls on Saturday, July 4, prompting financial markets and many government offices to observe the closure on the preceding Friday. Trading will resume Monday, July 6, with investors returning to action after the extended break.

The New York Stock Exchange, Nasdaq and other major U.S. equity markets confirmed the holiday closure, joining bond markets and commodity exchanges in observing the day. Bond trading, futures markets and some alternative trading venues may operate with limited hours or remain closed.

Banks across the country are expected to follow the federal schedule, with most branches closed for regular business. ATM access, online banking and mobile services will remain available for customers, though in-person transactions and customer support at physical locations will be limited.

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Government offices, including federal courts, post offices and many state agencies, will be closed Friday. Essential services such as emergency response and border security will continue operating normally.

Retail and Consumer Impact

Major retailers are taking varied approaches to balance holiday staffing with customer demand. Walmart, Target and other big-box stores plan to maintain regular or extended hours to accommodate shoppers stocking up for weekend barbecues and gatherings.

Grocery chains including Publix, Kroger and regional operators will operate on modified schedules in many locations, with earlier closing times to allow employees time with family. Customers are advised to check specific store hours through retailer apps or websites.

Costco warehouses are expected to remain open according to standard Friday schedules in most regions, though some locations may adjust food court and other services. Membership retailers typically prioritize consistency for their customer base during holidays.

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Convenience stores, gas stations and pharmacies will largely remain open to serve travelers and last-minute needs. Many national chains plan extended hours or 24-hour operations where applicable to support holiday traffic.

E-commerce platforms including Amazon will process orders throughout the weekend, though delivery times may be affected by reduced staffing at fulfillment centers and carrier services. Same-day options could be limited in some areas.

Travel and Holiday Preparations

Travel volumes are expected to reach near-record levels as Americans take advantage of the long weekend. AAA forecasts millions of trips by car, plane and other modes, with gas prices and airport congestion under close watch.

Roadside restaurants, service stations and rest areas will operate to support highway travelers. National parks and recreational destinations anticipate heavy visitation, with some implementing reservation systems or capacity limits.

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Fireworks displays, parades and community events are scheduled nationwide, with local authorities reminding residents of safety guidelines for personal fireworks use. Many municipalities have adjusted public transit schedules to accommodate event attendees.

Airlines have added capacity for holiday travel, though some flights may experience delays due to weather or staffing. Travelers are encouraged to check flight status and arrive earlier than usual at airports.

Financial and Economic Considerations

The market closure provides a brief pause for investors following recent volatility in technology and growth stocks. Major indices have shown mixed performance amid concerns over inflation, interest rates and corporate earnings.

Bond markets will also be closed, affecting trading in Treasury securities and corporate debt. Economic data releases scheduled for Friday have been adjusted or postponed to earlier in the week.

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For businesses and individuals with time-sensitive financial needs, planning ahead is essential. Bill payments, transfers and other transactions can be handled through online platforms, which generally operate normally.

The holiday weekend traditionally boosts consumer spending on travel, food, beverages and recreational goods. Retail sales data for June will be closely watched when released later in the month for indications of economic health heading into the second half of the year.

Public Services and Safety

Emergency services including police, fire and medical response will operate at full capacity throughout the holiday period. Hospitals and urgent care facilities will maintain normal staffing for patient needs.

Public transportation systems in major metropolitan areas will run on holiday or weekend schedules, with potential reductions in frequency during off-peak hours. Commuters should check local transit authority websites for specific information.

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National weather service forecasters are monitoring conditions that could impact outdoor celebrations, with heat advisories and thunderstorm risks possible in various regions. Officials urge caution with fireworks and outdoor cooking.

Parks departments and beach authorities are preparing for increased visitation, with additional staffing and safety measures in place. Visitors are reminded to follow posted rules and practice environmental stewardship.

Historical Context and Traditions

Independence Day commemorates the adoption of the Declaration of Independence in 1776, marking the birth of the United States. Celebrations typically include fireworks, parades, barbecues and family gatherings across the country.

The long weekend provides an opportunity for Americans to reflect on national history while enjoying time with loved ones. Travel and retail activity reflect the economic importance of holiday periods in the consumer-driven economy.

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As markets close and many businesses adjust operations, digital services help maintain continuity for essential functions. Online shopping, banking and entertainment options ensure most daily needs can still be met.

The July 4 holiday serves as both a celebration of American independence and a practical reminder of the systems supporting modern life. Whether traveling, shopping or relaxing at home, millions will mark the occasion in traditional and contemporary ways.

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Bitcoin Holds Steady Above $61,000 as Markets Weigh ETF Flows and Institutional Demand

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bitcoin

Bitcoin traded modestly higher near $61,772 Thursday, consolidating after recent volatility as investors assessed mixed signals from institutional flows and broader cryptocurrency market sentiment heading into the second half of 2026.

The world’s largest digital asset has experienced significant price swings this year, pulling back from earlier highs above $90,000 before finding support in the low $60,000 range. Thursday’s modest gains reflected cautious optimism amid ongoing developments in regulatory frameworks and institutional adoption.

Spot Bitcoin exchange-traded funds have seen substantial activity throughout 2026, with periods of strong inflows followed by notable outflows. BlackRock’s iShares Bitcoin Trust and other major funds have accumulated billions in assets since their launch, marking a structural shift toward greater institutional participation in cryptocurrency markets.

The mixed ETF flow data highlights the evolving relationship between traditional finance and digital assets. While some institutional investors have increased allocations, others have reduced exposure amid concerns over valuation and regulatory uncertainty.

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Post-Halving Market Dynamics

The April 2024 halving event, which reduced the reward for Bitcoin miners by half, continues influencing supply dynamics. Although the impact has been more muted than in previous cycles due to larger overall market capitalization, the event remains a key reference point for long-term investors.

Bitcoin’s price action in 2026 has shown reduced adherence to strict four-year cycle patterns, with macroeconomic factors, regulatory developments and ETF mechanics playing larger roles. After reaching peaks above $90,000 earlier in the year, the asset has traded in a broader range as market participants assess sustainable support levels.

Technical analysts have identified key support zones near $58,000, with recent trading activity testing these areas. A sustained move above major resistance levels could signal renewed bullish momentum, while failure to hold supports might invite additional selling pressure.

Institutional and Corporate Adoption Trends

Corporate treasuries have increasingly incorporated Bitcoin as a reserve asset, with companies like MicroStrategy maintaining significant holdings. This behavior adds a layer of demand less sensitive to short-term price fluctuations and provides validation for Bitcoin’s role in diversified portfolios.

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Spot Bitcoin ETFs have facilitated easier access for traditional investors, contributing to mainstream acceptance. The products have accumulated substantial assets, though periodic outflows demonstrate sensitivity to market conditions and competing investment opportunities.

Institutional interest extends beyond ETFs to direct holdings and infrastructure investments. Mining companies, custody providers and payment processors continue expanding services to meet growing demand from both retail and institutional clients.

Regulatory and Macroeconomic Influences

The regulatory environment for cryptocurrencies has continued evolving, with clearer frameworks emerging in some jurisdictions while others maintain cautionary approaches. U.S. policy developments, including potential changes in taxation and oversight, remain influential factors for market sentiment.

Broader macroeconomic conditions, including interest rate expectations and inflation trends, have affected risk assets including Bitcoin. The cryptocurrency’s correlation with technology stocks and growth-oriented investments has increased, tying its performance more closely to traditional markets during certain periods.

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Geopolitical developments and global liquidity conditions also impact Bitcoin’s price movements. As central banks navigate monetary policy decisions, Bitcoin’s narrative as a hedge against fiat currency debasement continues resonating with some long-term holders.

Technical Outlook and Market Sentiment

Bitcoin’s price has demonstrated resilience, finding support during recent corrections and showing signs of stabilization. Trading volume and open interest metrics provide mixed signals, with some indicators suggesting capitulation among weaker hands and positioning for potential recovery.

Options markets reflect heightened uncertainty, pricing in possibilities of both sharp declines and rallies. Volatility remains elevated compared to traditional assets, consistent with Bitcoin’s historical profile as a high-beta investment.

Analysts offer divergent forecasts for the remainder of 2026. Conservative estimates project consolidation or modest gains, while bullish projections point toward new highs driven by institutional adoption and scarcity dynamics. Average predictions often cluster in the $70,000 to $100,000 range by year-end.

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Short-term traders focus on immediate technical levels, while long-term investors emphasize network fundamentals including hash rate, active addresses and developer activity. Bitcoin’s underlying blockchain has maintained high security and operational reliability, reinforcing confidence in its decentralized architecture.

Adoption Trends and Ecosystem Development

Beyond price speculation, Bitcoin’s utility and adoption metrics continue expanding. The Lightning Network has seen growth in transaction capacity and use cases for faster, lower-cost payments. Institutional custody solutions and payment integrations have matured, facilitating greater real-world application.

The broader cryptocurrency ecosystem, including decentralized finance protocols and related technologies, adds to overall sector momentum. While Bitcoin primarily functions as a store of value, its dominance influences market sentiment and capital flows across digital assets.

Environmental considerations around Bitcoin mining have prompted shifts toward sustainable energy sources. Many mining operations report increased use of renewables, addressing previous criticism and aligning with broader environmental, social and governance trends among investors.

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Challenges persist, including scalability debates, regulatory uncertainty and competition from alternative cryptocurrencies. Bitcoin’s first-mover advantage and network effects have helped maintain its position as the leading digital asset by market capitalization.

Investor Sentiment and Risk Considerations

Sentiment indicators have fluctuated between fear and optimism, with social media discussion often amplifying price movements. Search trends and community engagement provide additional context for market psychology.

Risks for Bitcoin investors include sharp drawdowns, regulatory actions, technological disruptions and macroeconomic shocks. Diversification, long investment horizons and risk management strategies remain standard recommendations from market participants.

Despite volatility, Bitcoin has delivered substantial returns over multi-year periods for early adopters. Its fixed supply cap of 21 million coins underpins scarcity arguments, particularly as more coins become effectively lost or illiquid over time.

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As global adoption grows, with more institutions and countries exploring digital assets, Bitcoin’s role in the financial system continues evolving. Central bank digital currencies and blockchain initiatives by traditional finance players may either complement or compete with decentralized alternatives.

Thursday’s price action comes as markets digest recent economic data and anticipate corporate earnings that could influence risk appetite. With Bitcoin’s correlation to equities remaining relevant, positive developments in technology and growth sectors may provide additional support.

Longer-term, the interplay between supply dynamics, institutional demand and technological maturation will shape Bitcoin’s trajectory. While short-term trading remains unpredictable, the asset’s underlying properties continue attracting dedicated holders who view it as a transformative innovation in money and finance.

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Tony Buti pursues WA uni merger in SA, Canberra

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Tony Buti pursues WA uni merger in SA, Canberra

Attorney General Tony Buti has travelled to South Australia for meetings with the chiefs of merged universities, ahead of a potential decision about amalgamating WA institutions.

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King’s Hawaiian debuts single-serve pretzel bites

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King’s Hawaiian debuts single-serve pretzel bites

The bites are the brand’s first single-serve snack.

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Tackling workplace sickness could unlock UK growth, says Mayfield

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Britain's AI Gap: Are SMEs Being Left Behind?

More than 250 of Britain’s biggest employers, including British Airways, Tesco and Royal Mail, have signed up to a new taskforce led by Sir Charlie Mayfield aimed at stemming the flow of workers dropping out of the labour market through ill-health, a problem officially costed at £212bn a year.

The former John Lewis chairman, whose Keep Britain Working review laid bare the scale of Britain’s sickness problem last year, said tackling unemployment linked to long-term illness would unlock economic growth that is “hiding in plain sight”.

His Get Britain Working taskforce, which also counts Sainsbury’s, EDF Energy, Currys and several government departments among its members, has two aims: preventing people falling out of work because of ill-health in the first place, and encouraging those already signed off to return.

Each of the companies involved will track sickness absence, return-to-work outcomes and disability participation, data the government says will make workplace health performance visible for the first time. Ten mayoral authorities, including London and Manchester, have also agreed to take part.

The intervention comes with the human cost of the problem all too apparent. According to the Office for National Statistics, an estimated 148.8 million working days were lost to sickness or injury last year, while UK sick days have hit a 15-year high, with mental ill-health now the leading cause of long-term absence.

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Sir Charlie told the BBC the breakdown in communication between employers and absent staff was at the heart of the problem.

“I can’t tell you how many people I’ve met who said: ‘I was signed off work for three months, or six months, and I never had any contact with my employer at all,’” he said. “That’s not because the employer is a bad person. It’s because we’ve got a situation at the minute where people don’t talk to each other when they really need to.”

Not everyone is convinced. Some employers have warned that recent tax rises leave many firms without the headroom to invest in workplace health, while wellbeing experts have cautioned that smaller businesses in particular lack the tools and resources to manage employee health strategically. Others have raised concerns about pressure being placed on genuinely ill people to return to work.

Sir Charlie’s comments also land at a politically charged moment, with pressure mounting on Andy Burnham, widely expected to become prime minister later this month, to rein in a welfare bill forecast to account for 23.6 per cent of total government spending in the 2025 to 2026 financial year.

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Sir Charlie said his plans, which build on the recommendations of the government-commissioned review he published last year, could help cut that bill.

“Fixing these problems at the fundamental level could make a really big contribution to getting this economy working better, for employers, for employees, for the taxpayer, for all of us,” he said. “This is not a zero-sum game. It’s not a question of employers win and employees lose and vice versa. Everybody can win.”

He suggested Burnham would back the initiative. “I can’t see any reason why he wouldn’t because of what Andy has said about good growth. If this isn’t good growth, I’m not sure what is, quite frankly.”

For Sir Charlie, the arithmetic is simple. Returning those currently out of work through ill-health to the labour market would boost the workforce without any of the usual trade-offs.

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“You wouldn’t have had to build a single house, open a new channel of immigration, you wouldn’t have to wait for a cohort of young people to join the workplace,” he said. “This is basically growth hiding in plain sight.”


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Sam’s Club Tops Consumer Reports Rotisserie Chicken Taste Test as Shoppers Seek Best Value Birds

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Rotisserie Chicken

Sam’s Club’s Member’s Mark seasoned rotisserie chicken has been named the top performer in a comprehensive blind taste test conducted by Consumer Reports, beating out competitors including Costco and Stop & Shop in flavor, texture and overall quality.

The nonprofit consumer advocacy organization evaluated rotisserie chickens from 10 major retailers, assessing taste, sodium content, weight accuracy and even the presence of plastic-related chemicals in packaging and meat. The results provide shoppers with data-driven guidance for one of the grocery store’s most popular prepared foods.

Sam’s Club took the top spot in the best overall category, praised for its moist, juicy meat and well-balanced seasoning featuring hints of onion, garlic and a distinctive paprika rub that gives the bird an appealing bronzed color. At approximately $1.66 per pound, it also offers strong value for bulk shoppers.

Costco’s Kirkland Signature seasoned chicken placed second, noted for its plump appearance and moist texture, though saltiness varied across samples. Stop & Shop’s whole rotisserie chicken ranked third, with tasters appreciating the flavor despite some visual imperfections in skin appearance.

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The testing process involved purchasing chickens from retailers including BJ’s, Hannaford, ShopRite, The Fresh Market, Walmart, Wegmans and Whole Foods. A panel of tasters evaluated them blindly for flavor, texture and overall appeal, providing a rigorous comparison across national and regional chains.

Sodium Levels and Labeling Accuracy

Consumer Reports also analyzed sodium content, finding that several top-ranked chickens contained less sodium than labeled amounts. Sam’s Club, Costco, Stop & Shop, Wegmans and Whole Foods all showed lower tested levels compared to packaging information.

Walmart’s traditional rotisserie chicken, which ranked fourth overall, had slightly higher sodium than labeled. The organization noted that actual sodium can vary based on brining processes and preparation methods across different batches.

These findings highlight the importance of consumers checking nutrition labels while recognizing potential variations in prepared foods. For those monitoring sodium intake, the top performers generally offered favorable profiles relative to their flavor ratings.

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Plastic Chemicals and Safety Concerns

Testing revealed the presence of phthalates — chemicals used to soften plastics — in most chicken samples, with Costco and Walmart showing the highest levels. The amounts detected were below immediate health risk thresholds for adults but raised concerns for higher consumption, particularly among young children.

ShopRite’s chicken was the only sample without detectable phthalates. Consumer Reports emphasized that while levels were not alarmingly high, the findings contribute to broader discussions about plastic packaging in food products.

Walmart has previously announced initiatives to remove certain ingredients, including phthalates, from private-brand products. The company’s efforts reflect growing industry attention to food contact materials and consumer safety preferences.

Value and Practical Considerations

Price per pound varied significantly across retailers, with warehouse clubs like Sam’s Club and Costco offering the most competitive rates due to their bulk-oriented business models. Traditional grocers generally charged higher per-pound prices but may provide more convenient locations for smaller households.

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Weight accuracy was generally consistent, though some samples showed minor discrepancies between labeled and actual weights. Consumers are advised to compare packages when possible and check timestamps to ensure freshness.

For recipe applications, some lower-ranked chickens may still perform well in soups, salads or casseroles where seasoning can be supplemented. The report noted that milder-flavored birds work effectively as versatile ingredients rather than standalone entrees.

Shopping Tips from Consumer Reports

The organization offered several practical recommendations for selecting high-quality rotisserie chicken. Look for birds with even golden coloring, indicating consistent cooking. Smooth, non-shriveled skin suggests fresher preparation rather than extended holding times.

Checking package timestamps helps ensure the chicken was recently prepared. When possible, lifting packages to compare weight can help identify plumper, meatier options. Asking store associates about preparation times provides additional assurance of freshness.

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For sodium-conscious shoppers, the top-rated options generally provided good flavor with moderate sodium levels. Those concerned about additives may prefer chickens with simpler brining ingredients.

Industry Context and Consumer Trends

Rotisserie chicken remains a staple in American grocery stores, valued for convenience, affordability and versatility. The category has grown as busy households seek quick meal solutions amid evolving work and family schedules.

Retailers have expanded offerings with various seasonings and sizes to appeal to different preferences. Warehouse clubs leverage their bulk model to provide competitive pricing, while traditional grocers emphasize freshness and local appeal.

Consumer Reports’ testing adds to a growing body of independent evaluations helping shoppers navigate prepared food choices. Similar assessments of other grocery items have influenced purchasing decisions and prompted industry improvements.

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The presence of phthalates in food packaging reflects broader concerns about food contact materials. Regulatory agencies and consumer groups continue studying potential health impacts while encouraging reduced plastic use where possible.

Recommendations for Shoppers

For best results, consumers should consider their specific needs when choosing rotisserie chicken. Families seeking value and volume may prefer warehouse club options, while those prioritizing milder flavors or specific dietary preferences might opt for specialty grocers.

Leftover chicken can be refrigerated for several days and used in multiple meals, maximizing value. Proper storage and reheating techniques help maintain quality and food safety.

The report serves as a reminder that taste preferences are subjective, though systematic testing provides useful benchmarks. Shoppers are encouraged to sample different options to find their personal favorites while considering the nutritional and practical factors highlighted in the evaluation.

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As summer grilling season continues and families gather for holiday celebrations, rotisserie chicken offers a convenient centerpiece for many meals. Consumer Reports’ findings help inform those decisions with objective data on flavor, value and composition.

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Human rights catastrophe unfolding in Sudan’s al-Obeid, says UN’s Turk

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Human rights catastrophe unfolding in Sudan’s al-Obeid, says UN’s Turk

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County tells workers to conserve power as rates rise in data center-heavy state

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County tells workers to conserve power as rates rise in data center-heavy state

John Vithoulkas, the county manager in Virginia’s Henrico County, is asking county employees to cut back on power usage as electricity rates soar 25% across Virginia, the state with by far the most data centers. 

In a June 26 email sent out to all county employees and obtained by the Henrico Citizen, Vithoulkas asked employees to adjust individual habits as electricity rates increased by 25% and noted that prices were likely to shoot up even higher.

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“Beginning July 1st, the rate we pay for electricity used in all Henrico County government and school facilities will increase dramatically — by 25%, increasing costs by an estimated $5 million next fiscal year. We anticipate more rate increases for electricity in the years ahead,” Vithoulkas wrote.

Vithoulkas laid out a number of steps that employees should take to reduce their power usage, including turning off lights when leaving work, shutting down computers, pulling blinds closed and unplugging chargers.

EXTREME HEAT DRIVES RECORD DEMAND THREAT AS AMERICA’S LARGEST GRID PREPARES EMERGENCY MEASURES

Headshot of Virginia's Henrico Couny Manager John Vithoulkas

Virginia’s Henrico County Manager John Vithoulkas. (Henrico County)

He compared the electric austerity request to the county’s efforts to cut back during the late 2000s Great Recession

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BOFA CEO BRIAN MOYNIHAN DISMISSES RECESSION FEARS DESPITE WALL STREET’S MOST HAWKISH FED FORECAST

“Those of you who have been here long enough will recall the many cost-saving measures we implemented to help navigate the Great Recession more than 15 years ago. We are seeing this same innovation and creativity as each department seeks ways to reduce expenses by 3% in next fiscal year’s budget,” Vithoulkas wrote.

Henrico County is a member of the Virginia Energy Purchasing Governmental Association (VEPGA). The 25% price increase, the Henrico Citizen reported, applies to all counties that are members of VEPGA, which includes the majority of Virginia municipalities north of Richmond.

An aerial view, the Virginia State Capitol is shown on July 12, 2023 in Richmond, Virginia.

The Virginia State Capitol is shown on July 12, 2023, in Richmond, Virginia. (Win McNamee/Getty Images / Getty Images)

Virginia is by far the state with the most data centers in the U.S., the vast majority of which reside in the northern and central regions of the state. 

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Northern Virginia dominates, with more than a quarter of U.S. data centers and 13% of the world’s, according to Virginia’s Joint Legislative and Audit Review Commission (JLARC). But with the north near capacity, central Virginia areas like Richmond are increasingly absorbing new builds and rapidly becoming a hub for new facilities, JLARC notes. 

data center alley

“Data Center Alley” during high temperatures in Sterling, Virginia, on Monday, June 23, 2025. (Pete Kiehart/Bloomberg via Getty Images / Getty Images)

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While Vithoulkas did not specifically cite Virginia’s explosion of data center construction in recent years as a factor in energy increases, JLARC’s 2023 data center assessment concluded that “the data center industry boom in Virginia has substantially driven up energy demand in the state,” adding that “data centers’ increased energy demand will likely increase system costs for all customers, including non-data center customers.” 

FOX Business contacted Vithoulkas and Henrico County for comment. 

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Text Q1 2026/27 slides: MRR hits record as AI strategy takes shape

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