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Recent Articles from Beth JoJack
Battery-powered tools are wave of future at Stihl
Stihl Inc., the U.S. affiliate of the global Stihl Group, has invested more than $60 million on battery manufacturing at its Virginia Beach facility since 2018, according to Stuart Morrison, the company’s vice president of assembly. Battery-powered tools — like pruners, trimmers and blowers — are expected to see the fastest growth of products in […]
Dominion Energy secures new offshore wind lease for $17.7M
A Dominion Energy subsidiary won provisional rights to a 176,505-acre lease area off Virginia Beach’s coast, adjacent to the section of the ocean where the $9.8 billion Coastal Virginia Offshore Wind project is being constructed, the U.S. Department of the Interior announced Wednesday. Virginia Electric and Power Co. bid $17.65 million, or approximately $100 per […]
265 Va. companies make 2024 Inc. 5000 list
This year, 265 Virginia companies made the Inc. 5000 list of the nation’s 5,000 fastest-growing privately held companies, released Tuesday by Inc. magazine. Ranking at No. 53 overall, Ashburn IT services firm Blu Omega, a woman-owned small business founded in 2020, was the highest-ranking Virginia company on the list. Blu Omega’s clients include federal agencies […]
Va. localities win $126M in grants for industrial sites
Gov. Glenn Youngkin this week announced $126 million in Virginia Business Ready Sites Program development grants to fund work on 23 industrial sites in the commonwealth. Virginia’s growing inventory of project-ready sites was a factor in CNBC naming the commonwealth America’s Top State for Business in July, Gov. Youngkin noted in a Thursday news release. […]
7 Va. companies make 2024 Fortune Global 500
Seven Virginia-based companies made Fortune magazine’s 35th Global 500 list, released Monday. Companies were ranked by total revenues for fiscal years ending on or before March 31. McLean’s Freddie Mac remained the commonwealth’s top-ranked company at No. 88 — up 45 spots from 2023. The government-sponsored home mortgage company reported net income of $10.5 billion […]
Va. Lottery reports record $5.5B in FY24 sales
Virginia Lottery reported a record-breaking $5.5 billion in sales for fiscal 2024 and highest ever profits of $934 million, Gov. Glenn Youngkin announced Wednesday. In fiscal 2023, the state lottery reported $4.6 billion in revenue and $867 million in profits, which set the previous records for the state agency, which opened 36 years ago. Lottery […]
CGI Federal to acquire Vienna government contractor
CGI Federal, the U.S. arm of Montreal-based IT and professional services consultancy CGI, announced this week it plans to acquire Aeyon, a Vienna-based federal IT consulting firm. The purchase, for which terms were not disclosed, is expected to close by the end of September. With 725 employees, Aeyon has been owned by Enlightenment Capital, a […]
Kroger names new mid-Atlantic president
Kroger has named Kate Mora president of its mid-Atlantic division, replacing Lori Raya, who’d held the role since 2021 and is retiring, according to a Tuesday news announcement by the grocery store chain, which has nearly half a million employees across 2,800 stores in 35 states, including 68 stores in Virginia. Mora will work in […]
Glen Allen’s Dynex Capital names co-CEO
Glen Allen’s Dynex Capital has named Smriti Laxman Popenoe its co-CEO, the real estate investment trust announced in July. With more than three decades of experience in capital markets and investing, Popenoe will lead with Byron Boston, who remains chairman and co-CEO. Popenoe also will remain president and chief investment officer, as well as a […]
Va. tourism generated $33.3B for 2023
Virginia’s tourism industry generated $33.3 billion in visitor spending in 2023, an increase of nearly 10% over 2022, Gov. Glenn Youngkin announced Monday. “The commonwealth’s record-breaking visitor spending numbers are a testament to our abundance of attractions and unique destinations,” Gov. Youngkin stated in a news release. Virginia’s tourism industry supported over [...]
