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Recent Articles from Sydney Lake
Roanoke County launches small business relief grants
The Roanoke County Economic Development Department announced Monday it has launched a $1 million small business grant program to help businesses suffering from COVID-19 closures in the county and the town of Vinton. The program is being funded through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and will help businesses to cover […]
U.S. nonresidential construction spending dropped in May
Nonresidential construction spending in the U.S. dropped 0.9% during the month of May, the Associated Builders and Contractors announced Wednesday, according to U.S. Census Bureau data. Spending totaled $812.5 billion for the month of May while private nonresidential spending dropped 2.4%. “Certain aspects of today’s data release are precisely what was anticipated, while other elements [&helli[...]
300+ Alexandria small businesses receive COVID-19 funding
More than 300 small businesses in Alexandria were funded by the Alexandria Back to Business (ALX B2B) grants program in the wake of the COVID-19 crisis, the Alexandria Economic Development Partnership (AEDP) announced Thursday. In May, Alexandria City Council committed $2.4 million from its federal CARES Act appropriations, and allocated an additional $2 million from […]
Fleetwood Homes launching $2.1M expansion in Rocky Mount
Homebuilding company Fleetwood Homes will invest $2.1 million to renovate and expand its Rocky Mount facility, creating 60 jobs in Franklin County, Gov. Ralph Northam announced Thursday. “Fleetwood Homes has been a valued employer in Virginia more than 50 years, and we are proud to see the company reinvest in Franklin County,” Northam said in […]
366K+ Virginians remain jobless
More than 366,000 Virginians are still unemployed following the economic fallout from the COVID-19 pandemic, and initial jobless claims rose by more than 6,000 last week. The Virginia Employment Commission (VEC) announced Thursday that 906,734 people have filed initial unemployment claims since March 15. Nearly 32,000 Virginians filed initial claims last week, an increase of […]
COVID-19 death toll underreported, study finds
A joint Virginia Commonwealth University and Yale University study published Wednesday in the Journal of the American Medical Association suggests that the COVID-19 death counts reported to the U.S. public underestimate the true death toll of the pandemic in the country. “There are several potential reasons for this under-count,” lead author Dr. Steven Woolf, director […]
Va. Minority Business Commission starts Wednesday
With the initiation of a swath of bills passed during the most recent Virginia General Assembly session, the bill that creates the Minority Business Commission went into effective Wednesday, July 1. The Minority Business Commission will provide policy input and operational guidance to the General Assembly with a goal of addressing challenges facing minority business […]
The Branch Group CEO resigns
Roanoke-based construction company The Branch Group Inc. announced Wednesday that CEO Will Karbach has resigned. Ron Oakley, the current chairman of the board, will serve as interim CEO, effective immediately. Upon the announcement Wednesday afternoon, The Branch Group had not provided a reason for Karbach’s departure and did not respond to immediate requests for comment. […]
Troutman Sanders completes merger with Pepper Hamilton
After postponing its original April 1 merger date due to the COVID-19 pandemic, Atlanta-based law firm Troutman Sanders LLP and Philadelphia-based Pepper Hamilton LLP announced Wednesday they have merged to become Troutman Pepper Hamilton Sanders LLP (Troutman Pepper). Among Troutman Pepper’s 23 nationwide offices, the Richmond location is one of the newly merged law firm’s […]
Virginia 30 Day Fund makes 500th grant
The Virginia 30 Day Fund, a Charlottesville-based nonprofit, announced Wednesday it has disbursed 500 “lifelines” — or $3,000 forgivable loans — to small businesses in Virginia that have financially struggled during the COVID-19 pandemic. Seeded with $100,000 from tech entrepreneur Pete Snyder and his wife, Burson, the Virginia 30 Day Fund was born to fill […]
