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Recent Articles from Karen Newton
U.Va. board votes to continue gender-affirming care for existing patients under 19
During a Feb. 21 special meeting, the University of Virginia’s board of visitors voted for UVA Health to continue providing gender-affirming treatment to people under 19, but only to current patients. New patients will instead be referred to “alternative private providers” until further notice. Also, the BOV — a 17-member board named by Virginia’s governors […]
Sauer Brands acquired by Boston firm; new CEO named
A Boston private equity company completed its purchase of Richmond-based Sauer Brands, which produces Duke’s Mayo, Sauer spices and other food products, the companies announced Wednesday. With the change in ownership comes a new CEO for Sauer. E. Yuri Hermida, most recently executive vice president and chief growth and strategy officer for alcoholic beverage company […]
U.Va. board to meet over gender-affirming care dispute
The University of Virginia’s Board of Visitors — now controlled by members appointed by Gov. Glenn Youngkin — has scheduled a Feb. 21 special meeting to discuss UVA Health’s decision to resume gender-affirming medical care for patients under the age of 19. The university-affiliated health system suspended treatments in late January after a federal executive […]
HII’s CEO doesn’t expect major defense spending cuts under Trump
President Donald Trump’s suggestion last week that he could cut U.S. defense spending in half spooked the stock market — but the CEOs of Virginia’s Huntington Ingalls Industries and Science Applications International Corp. are taking Trump’s statement in stride. Thursday afternoon, Trump said, “One of the first meetings I want to have is with President […]
UVA Health resumes gender-affirming care after federal judge’s order
Updated Feb. 15 A federal judge in Maryland on Thursday issued a temporary restraining order that suspended President Donald Trump’s Jan. 28 executive order banning gender-affirming medical care for people under the age of 19, impacting patients and hospitals across the country, including in Virginia. Trump’s original order — as well as Virginia Attorney Gen. […]
Fairfax casino bill appears to be dead, following subcommittee vote
A bill that would have given Fairfax County the right to hold a casino referendum is likely dead for the 2025 session, after passing a vote last week in the Virginia State Senate. Senate Bill 982, introduced by Democratic Sen. Scott Surovell, was passed by for the day — in other words, not passed along […]
Italian plastic packaging maker coming to Shenandoah
Serioplast, an Italian plastic packaging manufacturer, will open an industrial plant in Shenandoah County, investing $25.7 million and creating an expected 45 jobs, Gov. Glenn Youngkin announced Friday. The company, which was founded in 1974 and has 33 production facilities in 16 countries with more than 2,000 employees, provides rigid plastic packaging for Procter & […]
Judge hits pause on Trump/Musk federal workforce buyout deadline
Less than 12 hours before the Trump administration’s midnight Thursday deadline for 2 million federal workers to decide whether to accept a controversial buyout plan, a federal judge temporarily paused the clock, setting a hearing on the matter for Monday. Three unions representing about 800,000 federal workers filed the lawsuit to stop the deadline. In […]
W&M receives $50M gift from alum for Batten School, VIMS
William & Mary alumnus Dr. R. Todd Stravitz has donated $50 million to the Williamsburg university to create a full-tuition scholarship fund for its new Batten School of Coastal & Marine Sciences and the Virginia Institute for Marine Science, W&M announced Thursday. This is W&M’s largest ever scholarship fund donation, it said in the announcement, […]
CHKD is latest Va. system to halt gender-affirming treatment for minors
Days after UVA Health and VCU Health suspended all gender-affirming medical treatments for people under age 19, Norfolk-based Children’s Hospital of The King’s Daughters has followed suit, a spokesperson confirmed Tuesday. In a statement, CHKD noted that it has never offered surgical treatments to patients. “With the utmost concern for our patients and our caring […]
Herndon tech distributor names new president
Four Inc., a Herndon distributor of technology products to the government, announced earlier this month that it has named a new president and CEO to replace former leader and co-founder Jeff Nolan, who is now executive vice chair of Four’s board. David Stewart, previously Four’s chief operating officer, began his new role Feb. 5, according […]
BWXT wins $2.1B in U.S. Naval Nuclear Propulsion Program contracts
The U.S. Naval Nuclear Propulsion Program has awarded BWX Technologies contracts totaling about $2.1 billion, the Lynchburg-based nuclear components and fuel supplier manufacturer announced Wednesday. The contract involves nuclear reactor component manufacturing and material procurement for Columbia and Virginia class submarines and Ford class aircraft carriers. The work will be performed at the B[...]
Capital One, Discover shareholders approve $35.3B acquisition
The proposed $35.3 billion blockbuster acquisition of Discover Financial Services by Capital One Financial has been approved by each company’s shareholders, the credit card giants announced Tuesday. Stockholders representing 85.1% of the total number of outstanding shares of Capital One common stock were in favor of the acquisition at a Tuesday meeting held in McLean. […]
Derivatives exchange to add 33 jobs in Fairfax
Nodal Exchange, a derivatives exchange, will invest $300,000 to expand its Fairfax County operations, adding 33 jobs, Gov. Glenn Youngkin announced Wednesday. “Nodal Exchange’s expansion in Fairfax County demonstrates Virginia’s ability to attract and retain global financial technology leaders,” Youngkin stated in a news release. “As North America’s largest [...]
Reports of NoVa housing market’s demise are greatly exaggerated, experts say
“See the rats run,” a Facebook post put up Saturday reads. It’s illustrated with a map purportedly of Arlington County — a map covered with dozens of ovals indicating where houses are on the market. Many of the ovals are labeled “coming soon” or “new.” In the wake of President Donald Trump and Elon Musk’s […]
Bon Secours plans $370M expansion of Henrico hospital
Bon Secours Mercy Health plans to break ground this summer on a $370 million renovation and expansion of Bon Secours St. Mary’s Hospital in western Henrico County, the hospital’s president said Friday. “Since the hospital opened in 1966, this is the most transformative project that we’ve taken on,” Bryan Lee said in an interview with […]
Status of federal agency’s lawsuit against Capital One unclear
A lot has happened since Jan. 20, as the Trump White House employs “shock and awe” tactics at lightning speed. Among the consequences is the shutdown of the Consumer Financial Protection Bureau, a government watchdog over private industry. Specifically, the CFPB’s pause in work leaves in question a major federal lawsuit against McLean-headquartered Capital One […]
Tysons’ Alarm.com buys stake in remote video monitoring company
Alarm.com has acquired a majority stake in CHeKT, a Louisiana-based cloud platform for remote video monitoring services, according to a Tuesday announcement by the Tysons home security tech company. Financial terms of the deal were not disclosed. According to Alarm.com, the acquisition strengthens its “market opportunity in the emerging professional video monitoring space.” Moving forward, [&h[...]
Kaine, Warner want answers from FAA about possible Musk intervention
In the wake of the fatal Washington, D.C., collision between a U.S. Army helicopter and an airplane, U.S. Sens. Mark Warner and Tim Kaine, along with other Democratic lawmakers from Maryland and Virginia, want assurance that leaders at the Federal Aviation Administration will notify Congress if billionaire Elon Musk directs the agency to take any […]
Trump’s steel, aluminum tariffs could impact Va. economy
President Donald Trump imposed 25% tariffs on steel and aluminum imports Monday. Now, the world waits to see what impact they will have. “If you look at the behavior of investors, investors are signaling again that they don’t believe these tariffs will be long-lived,” said Bob McNab, chair of Old Dominion University’s Department of Economics […]
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[...]
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 […]
Raleigh-to-Richmond rail project gains steam
Preliminary construction is underway for the Richmond-to-Raleigh passenger rail project, an estimated 162-mile route along the defunct CSX Transportation S-Line corridor that will speed up travel between the capitals of North Carolina and Virginia, as well as Washington, D.C., and the Northeast U.S. “We have basically funded work to advance all of the preliminary engineering […]
Petersburg prepares for casino referendum vote
This November, Petersburg voters will decide the fate of a highly anticipated casino development that could transform the city’s struggling economy. If approved, the proposed $1.4 billion Live! Casino & Hotel Virginia project will be built on an undeveloped 100-acre site off Interstate 95, offering easy access to East Coast travelers. “I have worked for […]
Cava opens Verona production and packaging facility
Nearly three years after announcing its initial plans, Mediterranean fast-casual restaurant brand Cava has opened a production and packaging facility in Augusta County’s Mill Place Commerce Park. The company held a ribbon-cutting ceremony for the facility in May. The Washington, D.C.-based company invested roughly $35 million to open the 55,000-square-foot facility to help centralize production [...]
U.S. 460 cell towers signal relief to businesses
Buchanan and Tazewell counties’ businesses will soon receive a needed signal boost, thanks to six cell towers under construction across the Route 460 corridor. The towers will increase wireless access along 20 miles of U.S. 460, from Red Ash in Tazewell to Vansant in Buchanan. It’s not a moment too soon, according to businesses that […]
Richmond region scores in sports tourism
With several new and expanded facilities across the region, the greater Richmond area has become an attractive hub for amateur sporting events, bringing in hundreds of thousands of visitors and millions of dollars in added revenue. The region’s amateur sports tourism generated $88.7 million in hospitality-related revenue in fiscal 2023, according to Jerrine Lee, vice […]
Generous Virginians 2024: A heartfelt donation
In philanthropy as in business, Dwight Schar sees the wisdom in doubling down when the stakes — and the impact — of an investment are high. In May 2023, three decades after their initial donation to the organization, Schar and his wife, Martha, made a $75 million matching gift to Falls Church-based Inova Health System. […]
Subs going Down Under
A 2021 agreement between Australia, the United Kingdom and the United States should reap benefits in Hampton Roads soon. Dubbed AUKUS for the three participating nations, the international agreement calls for the U.S. and the U.K. to share nuclear propulsion technology with Australia, with the Royal Australian Navy set to acquire at least eight nuclear-powered […]
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[...]
Va. Ocean Plan taking shape for 2025
As coastal populations grow and traditional and novel maritime industries increase their use of the Atlantic Ocean, the state government is developing a comprehensive plan to support the coexistence of different uses of the ocean. A group of more than 100 stakeholders — including the Bureau of Ocean Energy Management, the Army Corps of Engineers, […]
A steady breeze
Dominion Energy’s long-anticipated $9.8 billion Coastal Virginia Offshore Wind project is steadily taking shape as gigantic monopile foundations are installed in the ocean floor 27 miles off the Virginia Beach coast. This past spring, four years after two test turbines began generating power, Dominion installed the first monopile foundation for the 2.6-gigawatt offshore wind farm’s […]
Amazing race
Virginia is reaping thousands of jobs and huge tax revenues as Amazon.com revamps its U.S. delivery network. The e-commerce giant is opening major distribution centers and sorting facilities across the commonwealth as part of its nationwide strategy to get goods to consumers faster and stay one step ahead of competitors like Walmart and Target that […]
Catch a wave
Updated July 26: Chuck Rigney resigned as economic development director after six months on the job. After three decades recruiting businesses to Norfolk, Portsmouth and Hampton, Charles E. “Chuck” Rigney is tackling a new challenge: leading Virginia Beach’s economic development. Rigney was named the Resort City’s permanent economic development director in February. It was one year [&hell[...]
Rising alarm
Over the years, scientists have warned about sea-level rise, especially in Norfolk, which has the highest rate on the East Coast. “Norfolk is very flat. When you see a small increase in water levels, a wide part of land floods in response,” says Molly Mitchell, a researcher at the Virginia Institute of Marine Science, which […]
Digital divide
In a relatively short time, Josh Thomas has seen the Prince William County district he represents in the Virginia House of Delegates transform from farmland and residential neighborhoods to massive buildings filled with the digital infrastructure that stores, processes and distributes huge amounts of information across the global internet, from cloud computing for businesses to […]
Seeing the sites
Despite boasting a world-class port, a highly skilled workforce and easily accessible transportation infrastructures, Hampton Roads perennially comes away empty-handed in attracting large-scale industrial developments. Chalk it up to the region’s lack of shovel-ready sites, a situation that state and local economic development and political leaders are fervently working to change. Last year, the[...]
Hydrogen catches big air in Newport News
Already home to a nascent 176-turbine wind farm off the coast of Virginia Beach, Hampton Roads is expanding its foray into the clean energy industry with the creation of a green hydrogen production facility at Newport News’ Tech Center Research Park. Last spring, the Blacksburg-based Virginia Tech Corporate Research Center, which operates the 40-acre park […]
Hazelwood Farms is set to become industrial park
A 328-acre former James City County farm is set to become the largest speculative industrial project along the Interstate 64 corridor between the Port of Virginia and Richmond. Hazelwood Farms was purchased for $12 million in April by Houston-based industrial real estate firm Lovett Industrial, which plans to develop a 2.2 million-square-foot business park on […]
Henrico launches office buildings incentive program
During the pandemic, the office industry was “hit hard and quick,” says Jane DuFrane, senior vice president and Richmond market leader of Highwoods Properties, the Richmond area’s biggest landlord. But because office lease contracts last several years, “we didn’t feel the pain of COVID until those office leases started to expire,” she says. And that […]
All in good time
For decades, the promise of economic revitalization has tantalized Southwest Virginia. The sparsely populated region, once home to booming coal mining and tobacco industries, has had money and resources thrown at it by local, state and federal governments, but it’s still had a difficult time finding its footing. As the region’s economy has declined, so […]
Beyond number crunching
Becoming a chief financial officer requires much more than just being a good accountant or number cruncher. Indeed, the Journal of Accountancy in 2023 reported a noticeable shift of the top finance officer’s job from being a “CF-No” — or someone who just pulls tight the purse strings — to the “CF-Know.” That’s a leader […]
2024 Virginia Women in Leadership Awards: Leading Ladies
For the fourth annual Women in Leadership Awards, Virginia Business hosted a photo shoot at the Virginia Museum of Fine Arts, where eight of this year’s winners struck poses for Richmond photographer James Lee. Given the surroundings, Lee took inspiration from the museum’s collection and other artwork in staging the photos. The results display a […]
Watercourse of study
Starting this fall, Old Dominion University students will have a new interdisciplinary school dedicated to maritime work, logistics and supply chain management — an upgrade from an earlier program offered through the Strome College of Business. In September 2023, the State Council of Higher Education for Virginia (SCHEV) approved ODU’s School of Supply Chain, Logistics, […]
Little fish, big pond
Sometimes all it takes is seeing a child watch a crab crawl across a water table for the first time, Nate Sandel has learned. The director of education and community engagement at Nauticus, Norfolk’s science and maritime museum, Sandel saw the look of awe in a fourth-grade boy’s face as he watched crabs walk right […]
Central Virginia Year-in-Review: Pumping the brakes
During the pandemic, companies began pumping the brakes on expansions out of fear of the unknown. But, using that same car-related analogy, by late 2021, they were flooring it, explains Greater Richmond Partnership President and CEO Jennifer Wakefield. And by 2022, they had kicked it into sport mode. “Now it’s shifted back into normal mode,” […]
Central Va. Big Deal: Renaissance times
Henrico County’s near West End is seeing a renaissance. For decades, the area bordering Richmond around the Willow Lawn neighborhood has been home to mostly defunct commercial projects and old homes. But a $450 million project announced in December 2023 to renovate an old Elevance Health (formerly Anthem) campus promises to bring a “transformation” to […]
2024 BEST PLACES TO WORK — LARGE EMPLOYERS WINNER: Patriot Group
In the past five years, Patriot Group International has been recognized four times as the Best Place to Work among large employers in Virginia, but that doesn’t keep company leadership from wanting to do more and do better by its employees. Participation in Best Places to Work “provides us with great insight on some of […]
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 […]
Shattering the glass ceiling
The COVID-19 pandemic has been unusually difficult for professional women, especially those with young children or other responsibilities, such as caring for older family members. Many had to leave work entirely or put pursuing their career goals on the back burner during the past year while handling personal duties at home. The pandemic’s future impact […]
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 […]
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 […]
IALR names EVP of operations
Lynchburg’s assistant city manager, John Hughes IV, has been named executive vice president of operations at the Institute for Advanced Learning and Research in Danville, the institute announced Monday. Hughes started in his new role Thursday. He reports directly to IALR President Telly Tucker and serves as the institute’s chief business and operations officer. “I […]
34 Va. companies make 2022 Fortune 1000 list
Thirty-four Virginia-based companies made Fortune magazine’s 68th annual Fortune 1000 list, which was released Monday. The list ranks the 1,000 largest United States corporations by total revenue, including public companies and private companies for which revenue information is available. Twenty-one companies made the elite Fortune 500 list, including Henrico County-based convenience retail hold[...]
