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Recent Articles from Sydney Lake
Va. unemployment rate fell less than 1% between September and October
Virginia’s seasonally adjusted unemployment rate fell by less than 1% between September and October to 5.3%, according to employment statistics released Friday by the Virginia Employment Commission — but unemployment still remains 2.6% higher than the same time last year. The labor force fell by 0.4% to 4.27 million while the number of employed Virginians increased […]
David Baldacci donates $100K to Smith Mountain Lake meals program
Bestselling author David Baldacci and his wife, Michelle, have donated $100,000 to The Landing Love Project, a nonprofit initiative to expand meal delivery services to at-risk families and seniors in the Smith Mountain Lake region. The Landing Love Project was established in March 2020 by March Bruno and Tiffany Silva, owners of The Landing Restaurant, […]
AES Corp. to sell $1.8B in debt in private offering
Arlington-based energy company AES Corp. announced Thursday its plans to sell $1.8 billion in debt in a private offering to institutional buyers. The company will offer $800 million in 1.375% senior notes due in 2026 and $1 billion in 2.45% senior notes due in 2031. AES intends to allocate an amount equal to the net […]
Two Va. companies land spots on $496M Washington Headquarters Service contract
Arlington-based Washington Headquarters Service awarded two Virginia companies spots on a potential five-year, $496 million contract to support the Office of the Under Secretary of Defense for Research and Engineering, the U.S. Department of Defense announced Thursday. Chantilly-based engineering and tech contractor American Systems Corp. and Alexandria-based Modern Technology Solutions Inc. (alon[...]
Alexandria company wins $85M Navy contract
The U.S. Navy awarded Alexandria-based Systems Planning and Analysis Inc. (SPA) an $85 million contract to provide technical support for the Trident II submarine-launched ballistic missile system, the company announced this week. Under the contract from the U.S. Navy’s Strategic Systems Programs (SSP) office, SPA will provide technical services, arms control support, program support, assessm[...]
DXC Technology to pay out $650K under legacy pay discrimination allegations
Tysons-based Fortune 500 IT services company DXC Technology has entered into a conciliation agreement with the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) and agreed to pay $650,000 in back pay and interest to resolve compensation discrimination allegations against female employees in 2012. DXC Technology was formed in 2017 when the […]
Va. Coalfield Economic Development Authority establishes $1M Renewable Energy Fund
The Virginia Coalfield Economic Development Authority (VCEDA) announced Thursday it has established a $1 million Renewable Energy Fund from coal tax credit funds. “With the establishment of the Renewable Energy Fund, VCEDA is poised to readily assist in the development of renewable energy projects, which will add new jobs and investment to the region and […]
Northam announces $10M investment in oyster restoration
Gov. Ralph Northam on Thursday visited the Elizabeth River Project’s Learning Barge to announce $10 million in funding to support future Chesapeake Bay oyster restoration — marking the first time Virginia capital funds have been directed toward restoring natural resources. “Virginia has made tremendous progress in improving water quality in the Chesapeake Bay, reviving oyster habitats, [...]
VCU raises $841.6M in record fundraising campaign
Virginia Commonwealth University announced Thursday it raised more than $841.6 million through its Make It Real Campaign — exceeding its goal of $750 million and marking the university’s largest campaign to date. The campaign launched publicly in September 2016 after a silent period that began in 2012. It closed this June, a year after it […]
ICF executive chairman to retire Dec. 31
Fairfax-based management consulting firm ICF International Inc. announced Thursday that Sudhakar Kesavan will retire as executive chairman of the company’s board of directors on Dec. 31. Company President and CEO John Wasson will become chairman of the board on Jan. 1. “It has been an honor to lead ICF through its transformation over the past […]
