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Recent Articles from Katherine Schulte
Shentel to sell cell towers portfolio for $310.3M
Shenandoah Telecommunications (Shentel) has entered into an agreement to sell its portfolio of cellular towers and associated operations to Vertical Bridge Holdco for $310.3 million in cash, the Edinburg-based company announced Friday, a move that appears to largely transition Shentel out of the last remnants of its cellular phone business. Vertical Bridge is the nation’s […]
Va. housing market off to slow start in 2024
The housing market in Virginia had a relatively slow start in 2024, according to January data released Feb. 23 by Virginia Realtors. In January, 5,640 homes sold in the state, only 31 more sales than January 2023. Overall in 2023, Virginia home sales dropped 20% compared with 2022 and were the lowest the market had […]
Philanthropy: Accelerating advances
Over the past year, Virginia philanthropists continued to support medical research and higher education, with several demonstrating their commitment through subsequent donations. Northern Virginia philanthropists Dwight and Martha Schar carried on their longtime support of Falls Church- based Inova Health System, providing a $75 million matching gift to the health system in May 2023. Inova [&helli[...]
Amentum secures $591.6M Navy contract
Chantilly-based federal contractor Amentum Services has won a $591.6 million contract from the U.S. Naval Sea Systems Command (NAVSEA) to support eligible allied naval forces, the company announced Tuesday. Under the contract from the NAVSEA International Fleet Support Program Office, Amentum will provide life-cycle support and follow-on technical solutions — including system upgrades; systems i[...]
United Way of SWVA spins off workforce programs
The United Way of Southwest Virginia is spinning off its workforce development programs by establishing a new nonprofit, EO, to oversee them, UWSWVA announced Feb. 20. EO, which stands for Endless Opportunity, is also Latin for “go.” The new nonprofit will manage what has been the UWSWVA’s $10 million portfolio of grant-funded workforce development programs, […]
Dominion to sell 50% interest in Va. Beach offshore wind farm for $3B
Dominion Energy announced Thursday it has reached an agreement with investment firm Stonepeak to sell a 50% noncontrolling stake in the Coastal Virginia Offshore Wind commercial project off the Virginia Beach coast for nearly $3 billion. If the sale is approved by the Virginia State Corporation Commission and the North Carolina Utilities Commission, as well […]
Biden executive order on Chinese cranes affects Port of Va.
President Joe Biden issued an executive order Wednesday addressing cybersecurity and espionage concerns over Chinese-made cranes in use at U.S. ports, including the Port of Virginia. Additionally, the Biden administration announced a plan to invest $20 billion on infrastructure security at U.S. ports, including support for domestic manufacturing of ship-to-shore cranes. National security concerns [...]
Va. casinos report almost $53M in January revenue
January gaming revenues from Virginia’s three casinos totaled $52.86 million, according to Virginia Lottery data released Thursday. Virginia’s first casino, the Bristol Casino: Future Home of Hard Rock temporary facility, opened July 2022. The Virginia Lottery Board approved HR Bristol’s casino license in April 2022. Last month, the Bristol casino generated about $9.9 million fro[...]
Logistics company expanding in Winchester
Third-party logistics warehousing provider WCS Logistics, a Winchester Cold Storage company, will invest $27 million to expand in Frederick County and create an estimated 15 jobs, Gov. Glenn Youngkin announced Tuesday. WCS Logistics will build an 83,000-square-foot cold storage facility with the capacity for more than 13,000 pallets. The facility will include 68,750 square feet […]
Leidos wins $143M DIA contract
Reston-based Leidos won a contract worth an estimated $143 million from the Defense Intelligence Agency, the Fortune 500 contractor announced Thursday. Under the single award, indefinite delivery, indefinite quantity contract from DIA’s Science and Technology Directorate, Leidos will design and implement a tasking, collection, processing, exploitation and dissemination (TCPED) system for the[...]
