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economic development

Derivatives exchange company to create 37 jobs in Fairfax
Jun 10, 2022

Derivatives exchange company to create 37 jobs in Fairfax

Tysons-based derivatives exchange company Nodal Exchange will invest $300,000 to expand its Fairfax County headquarters, creating 37 jobs, Gov. Glenn Youngkin announced Thursday. The company will increase capacity at its headquarters, located at 1921 Gallows Road in Tysons. “Nodal Exchange offers the largest suite of power and environmental contracts in the world, and we are […]

Jun 10, 2022

Economic growth to continue slowing, ODU experts say

The U.S. economy will continue to slow in the second half of 2022 and a recession is increasingly likely, according to the Old Dominion University’s Dragas Center for Economy Analysis and Policy’s mid-year economic forecast released Friday. Increases in inflation are expected to slow as well but harden, leaving costs elevated, report Robert McNab and […]

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Jun 7, 2022

Raytheon moving global HQ to Arlington

Raytheon Technologies Corp. announced Tuesday that it will relocate its global headquarters from Massachusetts to Arlington in the third quarter of this year, a move that will see four of the top five U.S.-based aerospace and defense contractors headquartered in Virginia. Raytheon is the second-largest defense company in the world, just below Lockheed Martin, and […]

Wise County IDA buys vacant office building for $1.2M
Jun 2, 2022

Wise County IDA buys vacant office building for $1.2M

The Wise County Industrial Development Authority purchased a vacant office building in the Lonesome Pine Regional Business and Technology Park with a $1.2 million loan from the Virginia Coalfield Economic Development Authority, officials announced Wednesday. The 10,000-square-foot building sits on approximately 4.63 acres at 5957 Windswept Blvd. and came furnished. The building is adjacent to [&he[...]

Packaging manufacturer to create 75 jobs in Smyth County
Jun 1, 2022

Pittsylvania anticipates $7M investment by 2 businesses

In a pair of announcements Wednesday, Pittsylvania County officials celebrated an expected total investment of $7 million and more than 40 jobs by two businesses. A paper manufacturer’s Pittsylvania County location is expanding and a Danville medical equipment company is moving to the county, state and county officials announced Wednesday. Netherlands-based paper honeycomb producer Axxor [&h[...]

Packaging manufacturer to create 75 jobs in Smyth County
Jun 1, 2022

Packaging manufacturer to create 75 jobs in Smyth County

Northlake, Illinois-based Scholle IPN, a flexible packaging supplier, will invest $31.1 million to expand in Smyth County, a project expected to create 75 jobs, Gov. Glenn Youngkin announced Wednesday. Scholle IPN will expand its Smyth County facility by 73,000 square feet to allow new manufacturing lines for film extrusion and packaging. The company will also […]

The Boeing Co. will be relocating its global headquarters from Chicago to its existing campus in Arlington. Photo by Will Schermerhorn
May 29, 2022

Boeing will move global HQ to Arlington

The Boeing Co., the world’s third-largest defense contractor, is moving its global headquarters from Chicago to Arlington, the company announced May 5. With more than 141,500 employees worldwide and operations in more than 65 countries, the aerospace and defense company will be the largest defense contractor headquartered in Virginia. Boeing already employs 400 people at its […]

Tech manufacturer to add 32 jobs in Newport News
May 26, 2022

Tech manufacturer to add 32 jobs in Newport News

Newport News-based automated machinery designer Mühlbauer Inc. will invest $9 million to expand its Newport News operation, a project expected to create 32 jobs, Gov. Glenn Youngkin announced Thursday. Mühlbauer Inc. is the U.S. subsidiary of German company Mühlbauer Group. The company will make upgrades to its Oakland Industrial Park facility and add production equipment. […]

May 24, 2022

Century-old Birdsong Peanuts to modernize Suffolk plant

Suffolk-based Birdsong Peanuts is investing $25.1 million to modernize it Suffolk shelling facility, Gov. Glenn Youngkin announced Tuesday. The company plans to refurbish and automate production lines at the Suffolk plant. It is also committing to additional growing opportunities for Virginia peanut producers, a news release said. Additional details about those opportunities and whether the [&hell[...]

Executive insights
May 19, 2022

Gilbert Bland to receive Civic Leadership Institute award

Urban League of Hampton Roads President and CEO Gilbert T. Bland will receive the Civic Leadership Institute’s 2022 Individual Darden Award, the Norfolk-based nonprofit organization announced Thursday. “Over the last three decades, I have joined with many to build upon the efforts of countless, often unsung, past leaders to help improve the lives and build […]

May 17, 2022

Bioscience firm to create 70 jobs in Prince William

Manassas-based Virongy Biosciences Inc. will invest $471,000 to expand in Prince William County, creating 70 jobs, Gov. Glenn Youngkin announced Tuesday. The company relocated within Prince William County in February, moving from a roughly 600-square-foot space to about 2,000 square feet in the Northern Virginia Bioscience Center. It plans to develop diagnostic technologies to monitor […]

Four Va. businesses to receive flood solutions funding
May 17, 2022

Four Va. businesses to receive flood solutions funding

Four Virginia-based small businesses focused on coastal resiliency and flooding will receive funding to develop their products, Norfolk-based nonprofit RISE Resilience Innovations announced Thursday. Divided between rural and urban projects, there were eight winning projects, with the other four based in North Carolina. More than 70 projects were submitted. The urban winners will receive up [&hell[...]

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