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ODU, EVMS, Sentara name partnership executive director
Old Dominion University, Eastern Virginia Medical School (EVMS) and Norfolk-based Sentara Healthcare announced Tuesday that Kevin Leslie has been named executive director of its new partnership, the Hampton Roads Biomedical Research Consortium (HRBRC). The HRBRC was recently approved by Gov. Ralph Northam and the General Assembly with a goal of strengthening relationships among the three […[...]
Active Hampton Roads home listings dropped nearly 40% in October
Compared to last year, active Hampton Roads home listings were down nearly 40% in October, Real Estate Information Network Inc. (REIN) reported Tuesday. Only 4,887 homes were on the market, compared to 8,089 last year marking the sixth consecutive month that inventory has fallen more than 32% year-over-year, according to REIN. “Extremely low inventory has […]
Hampton Roads operator of Downtown and Midtown tunnels sold in $2B+ deal
Elizabeth River Crossings HoldCo LLC, the operator of the Downtown and Midtown tunnels that run between Norfolk and Portsmouth, has been sold to Abertis Infraestructuras S.A. and Manulife Investment Management Ltd., on behalf of John Hancock Life Insurance Co., for more than $2 billion. Elizabeth River Crossings operates four tunnels and a highway in the […]
Initial jobless claims on the rise again
The number of initial jobless claims in Virginia rose by 8.7% last week, the Virginia Employment Commission reported Thursday. For the week ending Oct. 24, 12,352 Virginians filed initial claims for unemployment, an increase of 987 from the previous week — rising to its highest level since mid-August, according to the VEC. Continued claims dropped […]
The big dig commences
Crews broke ground Thursday on the $3.8 billion Hampton Roads Bridge-Tunnel (HRBT) expansion — the largest project in the Virginia Department of Transportation’s history and one of the largest infrastructure projects in the nation. Virginia Gov. Ralph Northam joined state and local leaders in a groundbreaking ceremony Thursday morning, marking the commencement of the project. […[...]
Va. hotel revenues stay at steady decline
As the pandemic surges on, Virginia hotel revenues remain at a steady decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 18 through Oct. 24, hotel revenues in Virginia decreased by 50% and […]
Va. initial jobless claims jumped nearly 25% last week
The number of initial jobless claims in Virginia rose by 24.75% last week, the Virginia Employment Commission reported Thursday. For the week ending Oct. 17, 11,365 Virginians filed initial claims for unemployment, an increase of 2,255 from the previous week, according to the VEC. And the number of initial claims filed during the week ending […]
Hampton Roads residential median sales prices rose 10%+ last month
Hampton Roads saw residential median sales prices rise 10.04% during September, Real Estate Information Network Inc. (REIN) reported Monday. This is the largest annual increase in more than six years. September 2020’s median sales price was $275,000, compared to $249,000 during the same period last year. “Housing has been one of the strongest economic performance […]
Va. to expand networking program to new regions
During the next two years Virginia will invest $1.7 million to expand the Network2Work workforce development initiative, Gov. Ralph Northam announced Tuesday. The commonwealth will partner with the Virginia Community College System to pilot the Network2Work model in the Shenandoah Valley, Hampton Roads and greater Richmond regions. Network2Work was established by Piedmont Virginia Community Colleg[...]
Hampton Roads State of the Region report offers sobering look at COVID-19 impacts
Old Dominion University‘s Dragas Center for Economic Analysis & Policy’s 2020 State of the Region report for Hampton Roads offers a sobering look at how the pandemic has harmed the regional economy and left tens of thousands of Hampton Roads residents jobless. Employment in Hampton Roads fell dramatically, hotel occupancy continues to be outpaced by […]
Va. offshore wind industry could create 5.2K jobs, study finds
The offshore wind industry could create up to 5,200 jobs in Virginia (with a majority in Hampton Roads) and an estimated $740 million in total economic activity during the next several years, according to an economic impact analysis conducted by Henrico County-based Mangum Economics and released Tuesday by the Hampton Roads Alliance. Richmond-based Dominion Energy […]
Huntington Ingalls to establish unmanned systems center in Hampton
Gov. Ralph Northam announced Tuesday that Newport News-based Huntington Ingalls Industries (HII), the nation’s largest military shipbuilding company, will establish an unmanned systems center in Hampton, which will create more than 250 jobs. “Huntington Ingalls Industries is a national leader in advanced manufacturing, and this investment is a powerful testament to Virginia’s workers[...]
