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TowneBank completes $203M acquisition of Old Point
TowneBank has closed its $203 million acquisition of Hampton-based Old Point National Bank of Phoebus and its parent company.
Trump administration withdraws $39.27M for Norfolk offshore wind project
The Trump administration withdrew $39.27 million in federal funding that had been awarded for an offshore wind logistics port in Norfolk.
Former Smithfield Foods CEO and chairman dies at 86
Former Smithfield Foods Chairman and CEO Joseph Williamson Luter III passed away last week at the age of 86.
Economic Development 2025: SMITH, DOUG
Since 2019, Smith has led the Hampton Roads Alliance, a regional economic development organization representing 15 municipalities and numerous private sector investors. Before that, he served as city manager for Norfolk and as deputy city manager in both Virginia Beach and Portsmouth and is also a past president and CEO of Kaufman & Canoles Consulting. […]
Peninsula businesses to get capital boost
Small and midsize businesses in distressed and underserved areas of Hampton and Newport News will be able to access economic support through a new $50 million low-interest business loan program. Launched in June by the nonprofit Greater Peninsula C.A.R.E.S. Foundation, the Peninsula Cooperative Fund is designed to close funding gaps and boost minority-owned businesses. PCF […]
HII promotes exec to new maritime systems post
HII announced Thursday that it has promoted Eric Chewning to executive vice president of maritime systems and corporate strategy.
US government halts nearly complete offshore wind farm. Is Virginia’s next?
The Trump administration last week halted construction on a nearly complete wind farm off the coast of Rhode Island and Connecticut.
Luminoah wins Virginia Startup World Cup
Charlottesville-based medical technology company Luminoah won first place at the Virginia Startup World Cup.
TowneBank to acquire N.C. bank for $476M
Suffolk-based TowneBank announced Tuesday that it has signed an agreement to acquire North Carolina-based Dogwood State Bank for about $475 million.
TowneBank to close on $203M Old Point deal Sept. 1
TowneBank will acquire Old Point Financial in a $203M deal closing Sept. 1, expanding its market share in Hampton Roads
Marine/RV parts wholesaler announces $1.1M expansion in Norfolk
Land ‘N’ Sea Distributing, a distributor of marine and recreational vehicle parts, will invest $1.1 million to expand in Norfolk.
Newport News reveals plans for $400M Navy housing project
Newport News plans to begin work next year on a more than 930,000-square-foot Navy housing development downtown.
