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Recent Articles from Katherine Schulte
Chrysler Museum names chief philanthropy officer
Reneé Duval Fairchild is the Chrysler Museum of Art’s new chief philanthropy officer, the Norfolk museum announced Tuesday. Duval Fairchild will work with Erik H. Neil, the museum’s Macon and Joan Brock director and president, and with the museum’s development and membership teams. “Along with her significant experience leading teams and developing strategies for giving, [&hel[...]
Dominion Energy shareholders receive mini-tender offer
Dominion Energy is urging its shareholders to reject a “mini-tender” offer from TRC Capital Investment, the Richmond-based Fortune 500 utility announced Monday. Toronto-based investment firm TRC Capital offered to purchase up to 2 million shares of Dominion Energy’s common stock for $44 per share in cash, approximately 4.47% below the closing price of Dominion common […]
A rising tide
The Port of Virginia continues to drive commercial real estate activity in Hampton Roads as shipping and logistics companies seek footholds. The region’s office vacancy rate rose this year — from 8.1% at the end of the first quarter to 8.4% at the end of the second quarter — but is “relatively healthy compared to […]
RVA757 Connects releases plan for global internet hub
RVA757 Connects, a nonprofit focused on regional cooperation for economic development in Richmond and Hampton Roads, released on Thursday its 10-point strategic plan for transforming the “megaregion” into the next global internet hub. Virginia is already home to the world’s largest internet hub in Loudoun County’s Ashburn area, which has the world’s greatest concentration of [...]
August NoVa home price growth outpaces national rate
Home prices grew faster in Northern Virginia than nationally in August, according to a Northern Virginia Association of Realtors report released Monday. The Northern Virginia market also had lower inventory than the nationwide market, but sales declined in both markets. “Despite mortgage rate increases, demand for housing is outstripping available options in our region. Low […]
Amazon to open fulfillment, delivery facilities in Va. Beach
Amazon.com will launch a fulfillment center and delivery station in Virginia Beach, creating an estimated 1,000 full-time jobs, Gov. Glenn Youngkin announced Monday. Groundbreaking began Monday, according to Ian Allen-Anderson, an Amazon spokesperson. The fulfillment center will be located at the intersection of Harpers and Dam Neck roads, and the delivery station will be “at […]
Youngkin signs executive directive on AI
Gov. Glenn Youngkin has signed an executive directive around artificial intelligence, instructing the state government to establish use standards and identify opportunities for the government to use AI technologies. Executive Directive No. 5, announced by the governor’s office late Wednesday, directs the Office of Regulatory Management to work with the state’s chief information officer[...]
Data centers added $54.2B to Va. GDP over five years
The data center industry contributed $54.2 billion to Virginia’s gross domestic product from 2017 to 2021, according to a PricewaterhouseCoopers study released Tuesday. That calculation includes indirect impacts from other businesses as part of the data center industry supply chain and induced impacts resulting from household spending of income earned from the industry or its […]
VCCS senior vice chancellor to retire
Sharon Morrissey, Virginia Community College System’s senior vice chancellor for academic and workforce programs, will retire at the end of 2023, VCCS announced Monday. Morrissey joined VCCS in 2014. She held leadership roles for multiple initiatives, including eliminating placement testing, providing expanded credit for prior learning for military veterans and creating the system’s Op[...]
VCU sets sponsored research funding record
Virginia Commonwealth University set a record for its sponsored research funding — $464.6 million — in fiscal 2023, the Richmond public research university announced Friday. The total is a 14% increase since last year and a 71% increase over five years ago. “I’m proud that research is one of the fastest areas of growth and […]
