Sign In
Free Newsletter
These six Va. billionaires made Forbes’ 2024 richest Americans list
Six Virginia billionaires are among the 400 richest Americans, according to Forbes’ annual ranking, which the media company released Tuesday. To make the Forbes 400 list, U.S. citizens had to have a minimum net worth of $3.3 billion — an increase of $400 million over 2023’s list. Collectively, the members of this elite club are […]
Latest and greatest
By late spring, surf will be up at Atlantic Park on the former site of The Dome, Virginia Beach‘s distinctive geodesic dome convention center and concert hall that was torn down in 1994. Atlantic Park, a $350 million mixed-use entertainment venue and surf lagoon project at the Oceanfront, is the highest profile project in the […]
Virginia Housing board elects officers
Members of the Virginia Housing Development Authority’s Board of Commissioners elected Sarah Barrie Stedfast chair, the organization announced last week. Stedfast is venture president at Norfolk’s RW Towne Mortgage, a subsidiary of TowneBank Mortgage, and is active in the Virginia and Tidewater mortgage bankers associations. She has a degree in business finance from Virginia Tech. [...]
Fahrenheit Advisors hires Hampton Roads leader
Richmond consulting firm Fahrenheit Advisors has hired Stephen Hoy as managing director of business development for the Hampton Roads area, the company announced Monday. Hoy will develop new relationships and support existing clients from Williamsburg to Virginia Beach. Most recently, Hoy was director of sales and strategic partnerships for Strive, a California company that offers […]
Battery-powered tools are wave of future at Stihl
Stihl Inc., the U.S. affiliate of the global Stihl Group, has invested more than $60 million on battery manufacturing at its Virginia Beach facility since 2018, according to Stuart Morrison, the company’s vice president of assembly. Battery-powered tools — like pruners, trimmers and blowers — are expected to see the fastest growth of products in […]
Dominion Energy secures new offshore wind lease for $17.7M
A Dominion Energy subsidiary won provisional rights to a 176,505-acre lease area off Virginia Beach‘s coast, adjacent to the section of the ocean where the $9.8 billion Coastal Virginia Offshore Wind project is being constructed, the U.S. Department of the Interior announced Wednesday. Virginia Electric and Power Co. bid $17.65 million, or approximately $100 per […]
Amazing race
Virginia is reaping thousands of jobs and huge tax revenues as Amazon.com revamps its U.S. delivery network. The e-commerce giant is opening major distribution centers and sorting facilities across the commonwealth as part of its nationwide strategy to get goods to consumers faster and stay one step ahead of competitors like Walmart and Target that […]
2024 Virginia CFO Awards: Small Business: Joel Flax, Cohen Investment Group
Joel Flax hadn’t planned on serving as a chief financial officer after retiring from a full-fledged career as an accountant and tax advisor. But it also wasn’t the first time he made an unexpected career shift. In college, he had wanted to be a sportswriter. But shortly after graduating from William & Mary with a […]
Virginia Beach economic development director resigns
Charles E. “Chuck” Rigney resigned Wednesday from his post as Virginia Beach‘s economic development director, city spokesperson Ali Weatherton-Shook confirmed Friday, following a report by The Virginian-Pilot. Rigney had held the position officially for six months after serving as interim director for about eight months following the departure of the department’s former head, Tay[...]
Breeden promotes multifamily Richmond region director
The Breeden Co. has promoted Lindsay McMurrough to multifamily regional director of the Richmond market within the Virginia Beach-based real estate company’s residential property management division. McMurrough was previously a community manager. In her new role, she will oversee strategic direction of Breeden’s multifamily assets in the Richmond market. “Lindsay’s promotion is[...]
Dominion Energy to buy N.C. offshore wind lease for $160M
A Dominion Energy subsidiary has agreed to acquire a 40,000-acre offshore wind lease off North Carolina’s Outer Banks for $160 million, the Fortune 500 utility announced Monday. Virginia Electric and Power Company, which does business as Dominion Energy Virginia, will purchase the Kitty Hawk North Wind lease from Avangrid, a Connecticut-based sustainable energy company, and […]
Catch a wave
Updated July 26: Chuck Rigney resigned as economic development director after six months on the job. After three decades recruiting businesses to Norfolk, Portsmouth and Hampton, Charles E. “Chuck” Rigney is tackling a new challenge: leading Virginia Beach‘s economic development. Rigney was named the Resort City’s permanent economic development director in February. It was one yea[...]
