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Va.’s maritime industry has $8B economic impact, report says
Virginia’s non-military maritime industry was responsible for one in five jobs in Virginia and more than $8 billion in state and local taxes during fiscal 2022, according to a recent study conducted by William & Mary. The Virginia Maritime Association and the Virginia Port Authority commissioned the study to demonstrate the industry’s economic impact. The […]
Fed’s Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions [&hellip[...]
Fed Fifth District economy shrinks slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has contracted slightly since March, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
CV International subsidiary acquires Ga. shipping company
Norfolk-based CV International Inc. subsidiary Capes Shipping Agencies announced Wednesday that it had acquired Savannah, Georgia-based Ryan Ship Services LLC. Financial terms of the transaction were not disclosed. “This merger will be a great fit for both of our companies, and the timing was perfect,” CVI President and CEO Mike Coleman said in a statement. […]
Fertilizer shortage hits Va. farmers
Lewis Everett farms cotton, peanuts and small grains in Southampton County, on the Virginia-North Carolina line. He expects to take a loss this year due to the rising costs of fertilizer and crop protectants, which include herbicides and fungicides. Farmers have already negotiated some contract prices, he said. “A lot of those decisions were made […]
Port of Va. had $100B+ economic impact in FY21
Amid some of the toughest months of the pandemic, the Port of Virginia set cargo records, processing more than 3.2 million TEUs (20-foot equivalent units) for the fiscal year ending June 30, 2021, and generating more than $100.1 billion in ancillary economic impact, according to the port’s fiscal 2021 economic impact report released Thursday. According […]
Transportation
ED ALDRIDGE PRESIDENT, CMA CGM AMERICA LLP AND APL NORTH AMERICA, NORFOLK Aldridge took over as president of CMA CGM America in June 2020, and he has served as president of CMA CGM subsidiary North America, the nation’s oldest ocean carrier, since 2017. In February, the French company announced the $36 million expansion of its […]
The soybean dilemma
One thing’s for certain: The one-two punch of the U.S.-China tariffs battle followed by the coronavirus pandemic has hurt farmers in Virginia. But opinions are divided on the future of agriculture and forestry in the commonwealth, and which presidential candidate has better policies to protect jobs and profits here. On the side of Democratic nominee […]
