Virginia’s long-term economic outlook is positive, according to the University of Virginia’s Weldon Cooper Center for Public Service’s inaugural economic forecast released Monday. Weldon Cooper economists predict Virginia’s gross domestic product in 2025 will increase 2.4%, outpacing national GDP growth. The U.S. GDP’s growth is expected to be 1.9% this year, slower than the 2.5% […]

Fortune 1000 IT and professional staffing services firm ASGN has signed a definitive agreement to acquire Chicago-based employment tech consultancy TopBloc for $340 million, the Henrico County-based company announced Tuesday. The transaction in cash and equity is expected to close in the first quarter of the year, subject to closing conditions. “The acquisition of TopBloc […]

Work on the $50 million-plus Riverdale mixed-use redevelopment planned for more than 126 acres on the sprawling former campus of American Viscose, a rayon plant that closed in the late 1950s, is moving right along. Developer Ed Walker shared a lengthy written update on the project Jan. 24 that included a rendering of a 267-unit […]

The parent companies of Atlantic Union Bank and Sandy Spring Bank have cleared the last major hurdles to the Richmond bank’s $1.6 billion all-stock purchase of Sandy Spring, headquartered in Maryland. The shareholders of Atlantic Union Bankshares and stockholders of Sandy Spring Bancorp approved the merger, first announced in October 2024, in their separate special […]

Newport News-based Huntington Ingalls Industries announced Monday it has closed on its purchase of a metal fabrication manufacturing facility in South Carolina, which will now be part of its subsidiary Newport News Shipbuilding. The company did not disclose financial terms. In December 2024, HII said it had entered into a definitive agreement to acquire substantially all […]

Resorts owner, operator and developer Playa Hotels & Resorts has entered into an agreement to be acquired by an indirect subsidiary of Hyatt Hotels for approximately $2.6 billion, including approximately $900 million in debt, the hospitality companies announced Monday. Playa Hotels & Resorts is a Dutch public limited liability company headquartered in Amsterdam with an […]