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Recent Articles from Brent Baldwin
Trump 2.0: Making real estate great again?
Let Trump be Trump. A campaign staffer’s now-famous motto during President Donald Trump’s 2016 bid for president nods to the mercurial nature of the real estate mogul and former reality television star — as well as a similar slogan from “The West Wing.” And Trump himself has repeatedly said he trusts his gut over his […]
Army awards $676M contracts for weapon system
The U.S. Army has awarded Raytheon a $676 million contract to continue manufacturing the TOW weapon system, which provides heavy anti-tank guided missile capability, RTX, the Arlington County parent company of Raytheon, a defense contractor, announced Wednesday. Two separate awards consist of a $430 million contract for FY 2023 and an additional $246 million contract […]
Vibe check
No studies have found a higher prevalence of clairvoyance among labor market experts than in the average population. Since they can’t see the future, these professionals sift through data and surveys to figure out what the coming months may hold. Some reading these tea leaves have predicted employers may soon be suffering through another wave […]
Electro-Mechanical launches $16.5M expansion in Washington County
Electro-Mechanical — an electrical equipment manufacturer headquartered in Bristol — will invest $16.55 million to expand in Washington County, Gov. Glenn Youngkin announced Tuesday. “Electro-Mechanical’s significant expansion in Washington County demonstrates the strength of Southwest Virginia’s manufacturing sector and business climate,” Youngkin stated in a news releas[...]
John C. Asbury tapped to lead American Bankers Association
The American Bankers Association has elected John C. Asbury, president and CEO of Richmond-based Atlantic Union Bankshares, as the organization’s chair for 2024-25. “Through his bold leadership and dedicated service to our industry, John has proven that he is just the right person to step into this critically important role,” Rob Nichols, president and CEO […]
Pharma company invests $1.5M on Prince William expansion
Pharmaceutical manufacturer Granules Consumer Health, a subsidiary of Granules India, will invest $1.5 million into expanding its operations in Prince William County, Gov. Glenn Youngkin announced Monday. The company plans to install new manufacturing lines at its existing Manassas facility, with an aim of creating nearly 100 new jobs. “Granules’ decision to expand their operations [&h[...]
Raytheon wins $900M contract modification
The Department of Defense’s Missile Defense Agency has awarded a $900 million contract modification to Raytheon, a subsidiary of Arlington County’s RTX, according to a DOD notice posted Friday. Under the extension, Raytheon, a defense contractor that is also based in Arlington County, will continue operations and support for the Sea-based, X-band Radar (SBX 1), […]
Trump Town owner calls assault, indecent exposure charges ‘fake news’
Donald “Whitey” Taylor, owner of Trump Town, a Boones Mill store dedicated to merchandise celebrating the 45th president, and a candidate for mayor in that same small town, was arrested Tuesday on charges of indecent exposure and assaulting store employees. Taylor, 74, sent a text to Virginia Business, describing the criminal charges against him as […]
GD subsidiary in Norfolk wins potential $123.3M contract
General Dynamics NASSCO, a Norfolk subsidiary of Reston aerospace and defense giant General Dynamics, was awarded a U.S. Navy contract worth up to $123.3 million last week for maintenance, modernization and repair of the USS Porter destroyer during fiscal 2025. The base amount of the firm fixed price contract to General Dynamics NASSCO-Norfolk is $686,843. The contract […]
Work begins on organics-to-renewable gas facility in Amelia County
Vanguard Renewables, an organics-to-renewable natural gas company with headquarters in Massachusetts, broke ground Wednesday on its newest facility at Oakmulgee Dairy Farm in Amelia County. An anaerobic digester system on the property will allow Vanguard Renewables to convert cow manure along with inedible and unsalable food material into natural gas. The company expects Oakmulgee Dairy [&hellip[...]
Boeing to lay off about 200 workers in megarocket program
Arlington County-based Fortune Global 500 aerospace and defense giant Boeing plans to lay off about 200 employees working on NASA’s Space Launch System program in anticipation of potential program cuts or cancellation. The company previously expected to eliminate about 400 positions in the program by April, according to Bloomberg, but now plans to keep roughly […]
Northrop Grumman receives two contracts totaling $1.4B
Northrop Grumman has received two air and missile defense contracts worth a combined $1.4 billion, the Falls Church-based Fortune 500 government contractor announced last week. The contractor received two contracts from the U.S. Army and Poland. Under the $481 million, five-year contract from the Army’s Aviation Missile Technology Consortium, Northrop Grumman will expand software development [&h[...]
Jan. housing inventory, prices increase in NoVa, Hampton Roads
Housing sales last month increased year-over-year in Northern Virginia but dropped in Hampton Roads, although inventory and sales prices rose in both regions. Northern Virginia Home sales, prices and inventory in Northern Virginia rose year-over-year in January, according to Northern Virginia Association of Realtors data released Tuesday. Last month, 833 homes sold in Northern Virginia, […]
Va. economic outlook is positive, says Weldon Cooper Center forecast
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% [&helli[...]
Playa Hotels & Resorts to be acquired in $2.6B deal with Hyatt
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 […]
Reed Smith appoints new Richmond office managing partner
Global law firm Reed Smith’s S. Brian Farmer is the new office managing partner in Richmond, the firm announced Thursday. Farmer succeeds Edward Mullen, who is part of the firm’s Richmond-based government relations team that spun off from Reed Smith to create Seven Hills Strategy Group, according to a January news release. Farmer, who previously […]
ASGN to acquire Chicago employment tech firm for $340M
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 […]
$1.6B Atlantic Union purchase of Sandy Spring Bank clears main hurdles
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 […]
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[...]
Dollar Tree considers selling or spinning off Family Dollar
Chesapeake-based Fortune 500 discount retailer Dollar Tree is considering selling or spinning off its Family Dollar brand, which it acquired in 2015 for $8.5 billion. “Dollar Tree has been on a multiyear journey to help the company fully achieve its potential,” CEO and Chairman Rick Dreiling said in a statement Wednesday. “Last year, we announced […]
Dominion closes sale of Utah gas utility for $4.3B
Richmond-based Fortune 500 utility Dominion Energy has closed on its $4.3 billion sale of subsidiaries Questar Gas and Wexpro to Canadian pipeline and energy company Enbridge, Dominion announced Monday. Salt Lake City, Utah-based natural gas utility Questar serves more than 1.2 million customers in Utah, Wyoming and Idaho. Wexpro supplies natural gas under a cost-of-service […]
From salutes to startups
When Navy veteran Leland Remias was preparing to launch his Newport News real estate startup, VroomBrick, he looked for every resource possible to help him learn about business and scaling up. First, he completed an MBA from William & Mary in May. And in 2022, he participated in the Veteran Startup Challenge, a five-week intensive […]
Atlantic Park expected to open in spring 2025
The $350 million Atlantic Park project backed by music icon Pharrell Williams in his hometown of Virginia Beach is progressing, with the 2.6-acre surf lagoon, entertainment venue and other pieces of the project expected to be delivered in spring 2025, Kathy Warren, Virginia Beach’s planning director, told the city council Tuesday. Atlantic Park, a joint […]
Dollar Tree to acquire 99 Cents Only stores
Chesapeake-based Fortune 500 discount retailer Dollar Tree has acquired 170 leases of another discount retailer, 99 Cents Only, the company announced Wednesday. The stores are across Arizona, California, Nevada and Texas. In April, Commerce, California-based 99 Cents Only filed for Chapter 11 bankruptcy protection and initiated a process to sell its assets, including inventory, owned […]
Kaufman & Canoles names Williamsburg managing partner
Dustin H. DeVore has been named managing partner of Kaufman & Canoles’ Williamsburg office, effective May 21, the law firm announced. DeVore joined Kaufman & Canoles in 2002 and chairs the firm’s lender representation practice group and the firm’s credit union team. Outside the firm, he serves on the board of directors of the Greater […]
Va. Chamber honors four execs with lifetime achievement awards
The Virginia Chamber of Commerce honored four Virginia business leaders with lifetime achievement awards during a May 16 ceremony at The Jefferson Hotel in Richmond. The honorees were: Carilion Clinic CEO Nancy Howell Agee; Michael Daniels, chairman of the board of CACI International; Benjamin Davenport Jr., chairman of the board of First Piedmont and Davenport […]
Wood veneer facility to reopen in West Point
A former manufacturing facility in West Point will come roaring back to life with a $2.5 million investment by West Point Veneer, a wholly owned subsidiary of Coldwater Veneer, that will create 92 jobs, Gov. Glenn Youngkin’s office announced Tuesday. Once open, the mill will produce wood veneer and ship it globally via the Port […]
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[...]
Done and Dome — Oceanfront venue to open in May
When Three Dog Night takes the stage May 4 at The Dome, the 1970s rock band will help open a new chapter in live performances at the Virginia Beach Oceanfront that it closed more than three decades ago. Known for hits such as “Joy to the World,” the band was the last group to play […]
Could Boeing HQ move be in the cards?
In May 2022, Virginia officials were in a buoyant mood as Fortune Global 500 aerospace and defense giant Boeing announced it would move its world headquarters from Chicago to Arlington County, with then-President and CEO Dave Calhoun having conferred with Gov. Glenn Youngkin months ahead about the move. Nearly three years later, the mood is […]
Greensville ‘bouncing back’ after Boar’s Head plant closure
Nearly three months after Boar’s Head shut down its Jarratt plant, North Carolina-based Carolina Structural Systems announced Nov. 25 that it would spend $5.5 million to build a manufacturing site for custom trusses and similar products in Greensville County, adding 58 jobs. The county’s economic development director, Natalie Slate, calls the announcement a good start […]
New dockworker strike threat looms for Port of Virginia
Shippers in Hampton Roads are bracing for a renewed dockworker strike in mid-January after contract negotiations between the International Longshoremen’s Association and the United States Maritime Alliance stalled in November. More than 45,000 dockworkers walked off their jobs for three days starting Oct. 1 at ports from Maine through Texas, including at the Port of […]
George Mason’s Fuse tech hub opens to public
On the third floor of George Mason University’s new state-of-the-art Fuse tech hub, robots jumped, begged, rolled over and offered a mechanical paw to shake Friday while a small drone hovered above. The endearing welcome by George Mason’s RobotiXX Lab robots offered a brief glimpse into the future for the group of academics and students […]
100 People to Meet in 2025
In our sixth annual list of 100 Virginians you’ll want to meet in the new year, you’ll encounter interesting people of many ages and occupations — from a doctor in his 80s who built the Chesapeake Care Clinic to a 10-year-old CEO who started his own popcorn business and whose parents are his employees. In […]
Mind the gap
Margaret Abrams was studying engineering at Liberty University when she came across an online job advertisement from Newport News-based Huntington Ingalls Industries. HII, Virginia’s largest industrial employer, was offering a $2,500 signing bonus to job candidates who successfully completed a 16-week computer numerical control training at the Navy’s Advanced Training in Defense Manufacturing [...]
Amazon, Dominion agree to explore nuclear development
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 Station in Louisa County, the two companies announced during an Oct. 16 […]
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 […]
Chips on the table
This story has been updated since publication. For Roy Corby, Hampton Roads evokes vacation vibes. He grew up in Ocean City, New Jersey, but his family vacationed regularly in Virginia Beach for a change in seaside scenery. Nearly two years ago, Corby returned to open and run Rivers Casino Portsmouth as its general manager. It […]
Prince William targets data center growth
Move over Loudoun County. Neighboring Prince William County could eventually wear the data center crown. Loudoun currently houses the world’s largest concentration of data centers, which cover more than 25 million square feet of county land. About 27 miles away, however, Prince William is projecting about 33 million square feet of data centers will be […]
Fairfax campaign hopes for tourism boost
Visitors to Fairfax County often are drawn to its dense, urban environment and entertainment offerings, from the upscale Tysons Corner Center mall to Wolf Trap. Now, the county’s southern portion is staking a claim to the tourism economy. In May, Fairfax officials announced a new name for that area, Potomac Banks, which encapsulates the Mount […]
Incubator offers foothold for international firms
Minimal risk, long-term success. Chorus Intelligence Ltd., a British software company that sells products and services for law enforcement investigations, had these goals in mind when it set its sights on the U.S. sales market. With the help of a new Virginia Beach incubator focused on supporting international businesses, Chorus is gaining a foothold in […]
Summer dreams
Tournaments at the Virginia Beach Sports Center. Events at the Virginia Beach Convention Center. A busy Oceanfront boardwalk. That was the scene in Virginia Beach during just one weekend in mid-March. And it was the perfect “prelude” to the summer travel season, says John Zirkle, general manager of the DoubleTree by Hilton Virginia Beach. “The […]
100 People to Meet in 2022
Even as the seemingly never-ending COVID-19 pandemic continues to accelerate hybrid and virtual work, one thing doesn’t change — your need to build social capital. Whether you’re Zooming or returning to in-person events, this third annual list of Virginians to meet in 2022 will introduce you to a variety of innovative, impactful businesspeople and trendsetters […]
100 People to Meet in 2022: New Folks
They might be new to their positions, but they bring decades of expertise and new vantage points to the table. Here’s a sampling of Virginians — some fresh faces, others familiar — who have recently taken on significant new leadership roles. Stephen Ambrose Chief climate scientist, Science Applications International Corp. Reston Hurricane Agnes slammed […]
100 People to Meet in 2022: Rainmakers
Through their efforts, these are people who attract and grow businesses and funding, making the commonwealth wealthier. Traci Blido Executive director, Virginia Career Works —Central Region Lynchburg Traci Blido hadn’t been looking for a new job. After a decade as Bedford County’s economic development director, she still found the work challenging. “When you have […]
100 People to Meet in 2022: Impact Makers
Whether battling climate change, fighting for diversity, equity and inclusion, or volunteering their leadership skills to make a difference in their communities, it’s all in a day’s work for these impactful Virginians. Traci J. DeShazor Deputy secretary of the commonwealth, director of African American outreach Richmond Being a part of Gov. Ralph Northam’s push […]
100 People to Meet in 2022: Innovators
Representing industries ranging from retail and fitness to tech and biosciences, these creative, visionary trendsetters and entrepreneurs keep the Old Dominion new and relevant. Lisa Alcindor Program element monitor, U.S. Air Force Alexandria Lisa Alcindor starts rapping in the middle of the Pentagon’s courtyard: “Prepped my plane, call it Rocket Ship. I’m outer space, […]
100 People to Meet in 2022: Angels
Saving lives, feeding the hungry or helping those most in need, these Virginians make the commonwealth a better place through their passion, dedication and sacrifice. Dr. Sandy Chung CEO, Trusted Doctors; IT Medical Director, Pediatric Health Network; 2022 president-elect, American Academy of Pediatrics Fairfax Multitasker extraordinaire Dr. Sandy Chung is driven by her […]
100 People to Meet in 2022: Builders
From architecture to construction, these are the professionals who are building Virginia’s future and leaving legacies in steel, brick and glass. Corey Clayborne Executive vice president, American Institute of Architects Virginia Richmond Corey Clayborne confesses that he did not make all A’s in his architecture design studio as a college student at Virginia […]
100 People to Meet in 2022: Educators
Ranked as CNBC’s Top State for Business for two consecutive years, Virginia earned the distinction in part for its “wealth of colleges and universities.” These are some of the educators and leaders who are helping to grow that national reputation for academic excellence. Suzanne Bergmeister Executive director, Gilliam Center for Entrepreneurship at James Madison […]
100 People to Meet in 2022: Go-Getters
High achievers all, these Virginians are well-rounded leaders in their fields and their communities, sharing their expertise and moving the needle for growth and progress. Buffy Barefoot President Virginia Beach, TowneBank Virginia Beach Born and raised in Hampton Roads, Buffy Barefoot hasn’t strayed far from the ZIP code she grew up in. After attending […]
100 People to Meet in 2022: Public Faces
From helping the Washington Football Team rebrand itself to safeguarding the legacy of a beloved painter for a new generation to launching a $1 billion university campus, these are the people who lend their faces and voices to high-profile endeavors. Franki Fitterer Director of communications and marketing, Virginia Tech Innovation Campus Alexandria Franki Fitterer […]
