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ATCC expanding presence in Prince William County
Gov. Glenn Youngkin announced Thursday that American Type Culture Collection (ATCC) plans to expand its bioresource center campus in Prince William County, investing $54.7 million and creating an expected 75 jobs. The project will include a new biomanufacturing facility focused on global health. “ATCC is a world-class resource for scientists performing vital research to solve […]
The retail experience
Twisted Branch Tea Bazaar on Charlottesville’s Downtown Mall entertains its Tea Club members with monthly tastings, while nearby New Dominion Bookshop offers story times and “Friday Night Writes,” an event featuring emerging writers. And about a mile north at McIntire Plaza, outdoor gear and clothing consignment shop High Tor Gear Exchange has hosted outdoor equipment […]
Serving a repurpose
In Alexandria’s Old Town North, a collection of three brick office buildings built in the 1980s is being transformed into Tide Lock, a community of 234 luxury apartments and condominiums featuring Potomac River views and space for retail and a nonprofit music school. And last summer in the city’s Alexandria West neighborhood, tenants began moving […]
Va. hotel revenues up, rooms sold still lower than 2019
Virginia’s hotel industry is continuing its recovery from the COVID-19 pandemic, but revenue increases are being driven by high room rates, rather than more travelers. That’s according to a report released Friday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. According to the center’s analysis of data from STR Inc., a division […]
Barkin: Raising interest rates is correct course
As inflation remains high and the fallout from recent bank failures seems contained, the Federal Reserve Bank has good reason to continue raising interest rates, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday in a speech to the Virginia Council of CEOs at the University of Richmond. “It is worth remembering that not […]
Richmond Fed: Va. gained 8,000 jobs in Sept.
Virginia employers added 8,000 net jobs in September, marking the first month in which total employment has exceeded pre-pandemic levels, representatives from the Federal Reserve Bank of Richmond said Friday. While that’s good news, job recovery continues to be uneven across sectors, with employment in the transportation and warehousing sector exceeding pre-pandemic levels by 10.5% […[...]
COVID challenges continue for Va. restaurants
Liz Kincaid faced a major problem in August after the walk-in refrigerator in one of her Richmond restaurants — Max’s on Broad — broke. Her usual supplier told her the wait for the replacement part would take two months. “I have raw oysters and produce and fish and chicken,” recalled Kincaid. “I’m like, ‘What am […]
Va. hotel revenues up slightly over 2019
Northern Virginia’s hotel market continues to be a drag on the lodging industry’s performance in the commonwealth as a whole, according to recently released data from STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. The latest data show rooms sold decreased by 4.6% in Virginia through […]
Virginia companies weigh office returns
Many companies in Virginia are taking a flexible approach on whether employees must return to work in offices or continue working remotely or via hybrid models. For instance, Capital One Financial Corp., the McLean-based credit card company, is planning to reopen its U.S. offices in a hybrid model on Sept. 6. Capital One delayed its […]
Future shock
As companies across Virginia continue to adjust to workplace changes created by the COVID-19 pandemic, many human resources managers say one thing is clear: The way people work has changed for good. “This is a new work environment — the workplace has changed now,” says Kirstin Shelton, vice president of human resources for Octo Consulting […]
Statewide hotel revenues continue to lag 2019
Hotel revenues in Virginia for the first half of 2022 continued to lag behind 2019, and reduced business travel is still the culprit. That’s according to data released this week from STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold decreased by 4.6% in Virginia through June […]
Capital One to reopen offices in September
McLean-based Capital One Financial Corp. will return to U.S. offices in a hybrid model on Sept. 6, CEO Richard Fairbank announced Wednesday. Capital One has delayed planned hybrid reopenings twice, from September 2021 to November 2021, and then indefinitely when the company announced its decision to postpone again in October 2021. “As we get closer […]
