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Recent Articles from April Thompson
Some SWVA communities see younger population stabilize
In Southwest Virginia, the trend of outmigration among younger people appears to be slowing and even reversing in some counties. The decline in the population aged 25 to 44 in Wise and Lee counties has slowed during the first half of the 2020s compared with the early 2010s, according to University of Virginia Weldon Cooper […]
Herndon contractor to acquire NG division for $327M
Herndon tech and management contractor Serco Inc. has agreed to acquire Northrop Grumman’s mission training and satellite ground network communications software business (MT&S) for approximately $327 million. Serco Inc., a wholly owned subsidiary of United Kingdom-based Serco Group, announced the deal Wednesday, which is expected to close in mid-2025. MT&S provides the U.S. military with[...]
Va. Chamber of Commerce reveals next president and CEO
Cathie J. Vick will be the new leader of the Virginia Chamber of Commerce, starting April 1. The business advocacy organization with more than 30,000 members announced on Tuesday her appointment as president and CEO. Vick is currently vice president of corporate and government affairs at Transurban, one of the world’s largest operators and developers […]
Pharma company to invest $54.2M in Richmond R&D facility
Pharmaceutical company Haleon will invest $54.2 million to upgrade its research and development facility in Richmond and launch an internship program in partnership with state government and Virginia Commonwealth University, Gov. Glenn Youngkin announced Monday. The physical upgrades at the facility, located at 1211 Sherwood Ave., will allow United Kingdom-based Haleon to accommodate new technolog[...]
Va. Tech Innovation Campus opens first academic building
The first academic building of Virginia Tech’s Innovation Campus in Alexandria opened to students Tuesday as classes commenced. Virginia Tech started construction on the first academic building of the $1 billion campus in September 2021 and had planned to open the $302 million building in August 2024, but supply chain issues delayed the opening of the 300,000-square-foot, […]
Winchester cabinet manufacturer closing Orange plant
Winchester-based cabinet manufacturer American Woodmark is closing its manufacturing facility in Orange, laying off 131 employees. The company notified the state of the closure Jan. 7 in compliance with the Worker Adjustment and Retraining Notification Act. The layoffs at the plant, located at 281 Kentucky Road, will take effect March 24. American Woodmark did not […]
Norfolk casino developers select construction management team
A joint venture between Virginia Beach-based S.B. Ballard Construction and Mississippi-based Yates Construction — the companies that built Rivers Casino Portsmouth — will lead construction of the $750 million Norfolk casino resort. The casino development partners, Boyd Gaming and the Pamunkey Indian Tribe, announced the selection of Yates/Ballard as construction manager Tuesday. “These two o[...]
CFPB sues Capital One, claiming bank avoided paying $2B in interest
The Consumer Financial Protection Bureau has sued Capital One and its McLean holding company, Capital One Financial, alleging the companies cheated millions of consumers out of more than $2 billion in interest payments, the federal agency announced Tuesday. Capital One, the CFPB alleges, promised customers that its flagship 360 Savings account provided one of the […]
Amentum lands Air Force contract worth almost $448M
Amentum Services has won a $447.9 million Air Forces Central Command contract, the Chantilly-based federal contractor announced Thursday. Under the Air Forces Central Command Global Prepositioned Materiel Services contract, Amentum will provide and update prepositioned storage and maintenance solutions for the Ninth Air Force. “This win demonstrates our expertise in delivering smart asset manage[...]
Here’s what Richmond Fed chief forecasts for 2025 economy
The economic forecast for 2025 is sunny, with a high chance of business optimism, according to Federal Reserve Bank of Richmond President and CEO Tom Barkin, who spoke Thursday during the virtual 2025 Financial Forecast held by the Virginia Bankers Association and the Virginia Chamber of Commerce. “I went back this morning and looked at […]
Clarke County limits solar development
Clarke County prioritizes agriculture. That’s what drives most of its policy-making as the county navigates the complexities of renewable energy development while preserving its farmland, explains County Administrator Chris Boies. In January, the county’s Board of Supervisors approved new regulations for utility-scale solar projects. Boies says the ordinance has always required solar plants to[...]
Roanoke/New River Year-in-Review: Meeting the demand
The Roanoke and New River Valley regions each had their most successful economic development year in recent history, according to John Hull, executive director of the Roanoke Regional Partnership. That’s thanks to $387 million worth of economic investments announced in 2023, potentially creating thousands of jobs. Roanoke County landed the biggest fish, with Wells Fargo […]
Roanoke/New River Valley Big Deal: Banking on Roanoke
When Roanoke County economic development officials pitched Wells Fargo on expanding its customer support center operation in the county, they emphasized how well they’d taken care of the nation’s fourth-largest bank previously and how they would continue to do so. The pitch worked. Now the bank’s $87 million expansion will be the largest commercial office […]
Addiction recovery center set to open in Dickenson County
Kentucky-based Addiction Recovery Care is expanding its addiction recovery services into Virginia. Opening in Dickenson County in early to mid-2024, Wildwood Recovery Center, ARC’s first recovery center in the state, will provide treatment for substance use disorders in a residential program allowing individuals to stay for up to one year. ARC’s mission goes beyond recovery, […]
Small biz pilot program to aid Phoebus retailers
Five small retailers in Hampton’s Phoebus downtown historic district will receive micro grants and nearly a year of free professional guidance, thanks to funding from a state grant awarded to The Retail Alliance, a nonprofit trade association in Norfolk. The Retail Alliance and the Phoebus Partnership, a nonprofit organization bolstering area small businesses, won the […]
Reddix creates hub for women entrepreneurs
Angela Reddix is making it her business to create economic opportunities for women. “That is my absolute heart’s desire — to make it easier for girls and women to have access to wealth, and that means understanding it. That means being able to see it. That means being able to be invited in rooms where […]
100 People to Meet in 2024
Virginia is full of interesting people, and when it comes to this year’s batch of 100 people to meet for 2024, the commonwealth continues to deliver a bevy of fascinating newsmakers, professionals and go-getters worthy of your valuable networking time. In Virginia Business’ fifth annual list of people to meet in the new year, you’ll […]
ACP expands pharmacy doctoral program to Abingdon
The Appalachian College of Pharmacy has expanded its Doctor of Pharmacy program to the Southwest Virginia Higher Education Center in Abingdon in response to increased post-pandemic demand for pharmacists. ACP aims to accommodate students from Abingdon and surrounding areas, helping to retain talent locally. Classes began at the center on Aug. 29, with 10 students in […]
Arlington residents sue over ‘missing middle’ zoning
Ten Arlington County residents filed a lawsuit against the county in April that claims Arlington’s new “missing middle” zoning ordinance was passed in March without proper notice and violates Virginia law. “Missing middle” refers to the range of options that fall between affordable housing and single-family homes, including duplexes and other higher-density residences. On March […[...]
Startup competition expands to SWVA
Rural communities need extra love when it comes to additional business resources, says Kathy Deacon, vice president of business and resource development for the Vinton-based Advancement Foundation. The foundation has been running “The Gauntlet,” a business program and pitch competition, since 2015, expanding it into Southwest Virginia this year. Since the program is run online, […]
Australian maritime co. to start sub/shipbuilding school in Hampton Roads
An Australian maritime company announced Tuesday it will set up a submarine and shipbuilding training institution in Norfolk for the short term and will seek a permanent home in Newport News. Quality Maritime Surveyors (QMS), based in the suburbs of Adelaide, Australia, is one of the pioneering companies to take the plunge into Virginia’s waters, […]
The 2024 Virginia Black Business Leaders Awards
This February, during Black History Month, Virginia Business is pleased to honor 17 distinguished leaders from across the commonwealth in our second annual Virginia Black Business Leaders Awards. This year’s cohort of honorees represent industries ranging from advertising, architecture, defense contracting, finance and health care to higher education and nonprofits. Our editors chose this year[...]
Dominion installs first post for offshore wind project
Dominion Energy plunged the first monopile — after the two existing pilot turbines — into the sea floor Wednesday, kicking off construction of the $9.8 billion Coastal Virginia Offshore Wind (CVOW) project that will bring 176 turbines 27 miles off the coast of Virginia Beach. Installation of the post started mid-morning and was finished by […]
Accenture Federal Services completes Cognosante buy
Arlington County-based Accenture Federal Services has completed its acquisition of Falls Church-based Cognosante, AFS announced Monday. With the acquisition, AFS plans to create a new federal health portfolio. The deal adds 1,500 employees to AFS’ workforce. “The health market is a unique mission space in the U.S. federal government,” Accenture Federal Services CEO John Goodman [&hel[...]
Vanguard Landing apartments under construction in Va. Beach
Vanguard Landing, an “intentional community” specifically designed for people with intellectual and developmental disabilities, is under construction in Virginia Beach. Developers broke ground on the first phase in April and started construction in earnest in May. The mixed-use community, which claims to be the first of its kind in Virginia, will eventually have housing for […]
StoneSprings Hospital Center hires new CEO
Tammy L. Razmic is the new CEO of StoneSprings Hospital Center in Dulles, the first woman to hold the top title, HCA Virginia announced May 13. Razmic will start her new job at the Loudoun County hospital on May 20. Razmic was most recently chief operating officer at HCA Florida Memorial Hospital in Jacksonville, Florida. […]
GDIT wins $185M Air Force task order
Falls Church-based federal contractor General Dynamics Information Technology won a $185 million recompete task order to provide cybersecurity services for the Air Force Civil Engineer Center, the company announced Friday. The 772nd Enterprise Sourcing Squadron at Tyndall Air Force Base in Florida awarded the task order for a one-year base period with four option years. […]
Arlington apartment tower sells for $48.5M
A 162-unit high-rise apartment property in Arlington County has changed hands. Fortis Cos., a Washington, D.C.-based real estate development and investment company, acquired Marlowe Apartments from Equity Residential for $48.5 million, according to Berkadia, a commercial real estate services and mortgage firm, and Arlington County property records. The 162-unit property located at 400 15th St. [&h[...]
Shenandoah University receives $20M gift from alumnus
A Shenandoah University alumnus and his wife have pledged $20 million to the university, the largest individual donation in the history of the Winchester school. Wilbur and Clare Dove’s gift, announced last month, will go toward the building of a performing and visual arts center on campus, according to the university. Wilbur Dove earned his junior […]
VDOT buys Owens & Minor’s Hanover HQ for $33.5M
The Virginia Department of Transportation has purchased the Mechanicsville headquarters of Owens & Minor for $33.5 million, with plans to move the state agency’s central office there in summer 2025. Much of VDOT’s staff will move from the Annex building at 1401 E. Broad St. into the new building at 9120 Lockwood Blvd. in Hanover […]
Chesterfield fintech Paymerang to be acquired for $475M
Chesterfield County-based payment and invoice automation company Paymerang has signed a definitive agreement to be acquired by Atlanta-based corporate payments processor Corpay for $475 million, according to an SEC filing by Corpay and a news release. The transaction is expected to close in the second quarter of the year, subject to regulatory approval and standard […]
VTG awarded $130M defense contract
VTG, a Chantilly-based engineering firm, has been awarded a five-year, $130 million contract by the Naval Sea Systems Command (NAVSEA) Integrated Warfare Systems Engineering Group, the company announced Tuesday. The contract is to provide end-to-end engineering services, spectrum management and test and evaluation support for Navy warfare, control and C5I (command, control, communications, cyber a[...]
Energy storage projects slated for Greensville, Pittsylvania
Two energy storage projects proposed for Southern Virginia would help augment the area’s power capacity, diversify the region’s tax base and boost the regional economy, industry representatives say. Dominion Energy Virginia wants to build a liquified natural gas storage facility on more than 20 acres that the Richmond-based Fortune 500 utility owns next to its […]
As data centers grow, Amazon and Dominion explore small nuclear reactors
With power consumption by data centers and AI projected to more than quadruple in Virginia in the next 15 years, Amazon.com and Dominion Energy Virginia have entered into an agreement to explore potential development of small modular nuclear reactors at North Anna Power Plant in Louisa County, the two companies announced at an event Wednesday […]
A smart defense
In late 2020, the Air Force made headlines when it announced that an artificial intelligence co-pilot, named ARTUµ, helped command and control a U.S. military spy plane for the first time in history. If the name, pronounced R-2, sounds familiar, it is. Think R2-D2, or “Artoo,” Luke Skywalker’s lovable droid and X-Wing copilot from the […]
Dropping anchor
LS GreenLink USA spent two years on site selection, scouring much of the East Coast for the right location to build a 750,000-square-foot factory to manufacture subsea cables for offshore wind farms. Then it landed on Chesapeake. Patrick Shim, LS GreenLink’s managing director, cited several reasons for the company’s decision: access to the Port of […]
Growth spurts
Virginia Beach-based law firm Melone Hatley hired its first employee in spring 2021. Three years later, it now has a staff of 50 people and could reach as many as 60 by the end of this year, says Rebecca Melone, the firm’s managing partner. That growth is part of a strategy that Melone and her […]
County grants boost early-stage entrepreneurs
As an early-stage startup founder, Ray Magee grew accustomed to hearing ‘no.’ In the eight years since he founded Centreville-based BloomCatch, a plant recognition app, Magee reckons he’s applied for seven or eight grants. So, when BloomCatch landed a $50,000 grant from Fairfax County in November 2023, he admits to some initial disbelief. “I thought, […]
CAV Angels hits $20 million+ milestone
When Greg and Marion Werkheiser connected with CAV Angels during their search for seed investors for their augmented reality software startup in 2018, the couple reaped benefits beyond an initial $300,000 infusion. “The investment itself gave us credibility to other investors,” says ARtGlass CEO Greg Werkheiser, a 2000 graduate of the University of Virginia School […]
NW Harrisonburg sees revival with investment
Northwest Harrisonburg used to be a place to buy a tire. Beyond the 116-year-old City Produce Exchange building, which was converted into lofts in 2006, and the Local Chop & Grill House, which opened in the same building in 2009, there wasn’t much else to draw people to that corner of the city. That’s changing, […]
A walk through fire
Sheila Johnson’s career has spanned three parts. An accomplished violinist and philanthropist, she started out as a music teacher, a job she held while she supported the growth of Black Entertainment Television, the network she co-founded and launched with her former husband, Robert “Bob” Johnson, in 1980 that turned her into a media mogul. Johnson […]
Wizards, Capitals plan Alexandria move in $2B deal
The Washington Capitals and Washington Wizards are planning a move to a new home in Alexandria in a $2 billion deal that would see the professional sports franchises exit Washington, D.C., by 2028, Virginia Gov. Glenn Youngkin announced Dec. 13, 2023. The nonbinding agreement to build a new arena for the Capitals and Wizards is […]
