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Virginia ranks No. 8 in U.S. for VC investment
Virginia was ranked No. 8 in the nation for venture capital investment in 2023, marking the state’s highest rating so far and its first time back in the top 10 in the past 15 years, according to an announcement Thursday by Virginia Innovation Partnership Corp. (VIPC). Earlier this month, VIPC hosted an event at Amazon.com’s […]
7 Va. companies make 2024 Fortune Global 500
Seven Virginia-based companies made Fortune magazine’s 35th Global 500 list, released Monday. Companies were ranked by total revenues for fiscal years ending on or before March 31. McLean’s Freddie Mac remained the commonwealth’s top-ranked company at No. 88 — up 45 spots from 2023. The government-sponsored home mortgage company reported net income of $10.5 billion […]
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 […]
Virginia Beach economic development director resigns
Charles E. “Chuck” Rigney resigned Wednesday from his post as Virginia Beach’s economic development director, city spokesperson Ali Weatherton-Shook confirmed Friday, following a report by The Virginian-Pilot. Rigney had held the position officially for six months after serving as interim director for about eight months following the departure of the department’s former head, Tay[...]
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 yea[...]
Prime for development
In the past year, Amazon.com continued its march across the commonwealth, announcing plans to build a 650,000-square-foot fulfillment center and a 219,000-square-foot delivery station in Virginia Beach, which are collectively expected to produce more than 1,000 jobs. About 60% the size of the Pentagon, Virginia’s second largest building belongs to Amazon — a 3.8 million-square-foot [&helli[...]
231-unit affordable housing development coming to McLean
Construction will begin immediately on the 231-unit first phase of an affordable housing development in McLean backed by Amazon.com, SCG Development announced Wednesday. Located at 1750 Old Meadow Road, Somos at McLean Metro will be developed in two phases. In the first phase, Tysons-based SCG Development will demolish an abandoned office building on the property […]
Shenandoah Valley Year-in-Review: Green valley
Just a couple years later, an $821,000 site development grant awarded to the Shenandoah Valley Partnership by the state’s GO Virginia economic development initiative has already been paying off, says Jay Langston, the partnership’s executive director. The grant, which paid for work including site evaluation and related environmental reviews and surveys, was focused on improving [&helli[...]
Eastern Va. Big Deal: Prime location
Doug Smith isn’t surprised Amazon.com has extended its reach in Hampton Roads. The Hampton Roads Alliance president and CEO says Amazon’s expansion in the commonwealth has been a constant since the global e-commerce behemoth announced in 2018 that it would locate its East Coast corporate headquarters, Amazon HQ2, in Arlington County. The latest push includes […]
Northern Va. Year-in-Review: Back to the cookie jar
Data centers continued to dominate, define and, in some cases, shape the arc of Northern Virginia’s 2023 economic story. Amazon Web Services cleared its hurdle in Stafford County, and although Prince William County’s controversial Digital Gateway project faced major public backlash, supervisors ultimately voted to approve the 1,200-acre project’s rezoning applications in December[...]
Amazon HQ2 impact on housing market short-lived, report says
The June opening of Amazon.com’s $2.5 billion East Coast headquarters in Arlington County only had a short-lived impact on home prices, and it’s hard to pinpoint HQ2’s direct impact due to other factors affecting residential costs, according to a report released this month by Bright MLS Research. When Amazon announced it would bring 25,000 highly-paid […]
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 […]
