Whether writing bestselling books, fighting high-profile court battles, helping to build racial equity, fighting for institutional reforms or leading coalitions, these Virginians are making a difference.
A Bedford County native and University of Richmond School of Law alum, Rita Davis is the first woman to serve as legal counsel to a Virginia governor, a job she accepted in 2018. Much of her job involves handling clemency petitions, executive orders and FOIA requests — but also, this year, leading the state’s legal battle to remove the monument of Confederate Gen. Robert E. Lee in Richmond. Proudly wearing her gold necklace that spells out “Boss,” a gift she rarely removes, Davis cut a striking figure this summer as she described the statue as a Jim Crow-era attempt to “recast Virginia’s history … to fit a narrative that minimizes a devastating evil.” Davis, who says she hopes the statue will be removed by spring, calls its now-graffiti-covered pedestal “absolutely beautiful.”
Director of corporate affairs, Universal Leaf Tobacco Co. Inc. Richmond
Benjamin Dessart is a real fan of Henrico County, his home since he was 3. With a background in Republican politics, including as political director for former U.S. House Majority Leader Eric Cantor, Dessart is a member of the board of Virginia FREE, a nonpartisan, pro-business group formed by former Del. Chris Saxman, and he oversees global regulatory affairs and sustainability for Universal Leaf Tobacco Co. Inc., a merchant and processor with operations in close to 30 countries.
In normal non-pandemic times, Dessart spends about a quarter of the year in the field — literal fields, he says, in Zimbabwe and other far-flung locations. “Working with our farmers — you’re in the middle of the bush,” seeing places few tourists ever get to go, he says.
Vice president, Federal Reserve Bank of Richmond Richmond
Renee Haltom, who has been with the Richmond Fed for 16 years, bridges the gap between hard-numbers economics and human communications. This year, her business and community outreach efforts throughout Virginia took on greater urgency as data models lagged in reporting the current state of the economy during the early days of the pandemic. “I really enjoy connecting with other people about the issues that are important to them,” Haltom says, and her outreach efforts allowed the bank to fine-tune its approach to monetary policy. “It’s a matter of getting people of all different backgrounds plugged in,” she adds, while noting that the pandemic has highlighted existing issues of inequity and lack of access, especially in rural areas.
Tiffany Jana has become a much-in-demand diversity and inclusion consultant as businesses confront structural racism and company cultures that limit the potential of their Black and brown employees. A member of the Virginia 2020 Census Complete Count Commission, Jana founded TMI in 2010 and transitioned the company into a certified benefit corporation. Jana, who uses the pronouns they and their, also co-wrote four bestselling books — “Erasing Institutional Bias, “Overcoming Bias: Building Authentic Relationships Across Differences,” “The B Corp Handbook” and “Subtle Acts of Exclusion” — and they were named one of Inc.com’s top 100 leadership speakers in 2018. “Cultural fluency definitely increases our capacity to communicate and work well across differences,” Jana tweeted in November. “The more you know, the less egregious your stumbles will be.”
Regional president, Greater Washington, D.C., and Virginia, M&T Bank Vienna
In 2018, Cecilia Hodges was named M&T’s Virginia and Washington, D.C., regional president, and in January the Rocky Mount native and Virginia Tech alumna will mark her 25th anniversary with the bank. Aside from her duties overseeing more than 60 bank branches, Hodges has dedicated significant time to volunteer work as chair of M&T’s charitable foundation committees in the Washington and Richmond regions, and she recently joined the Federal Reserve Bank of Richmond’s Baltimore board of directors. Hodges also volunteers with the March of Dimes and Easterseals, specifically to help empower women and girls. “As busy as I am, if I take the time to give back, I walk away feeling that I’ve gained more than I’ve given.”
President and state director, HR Virginia; senior director, HR Strategic Initiatives, University of Virginia Charlottesville
Like the rest of us, Michael Latsko saw a big change in his lifestyle this year — moving from in-person to virtual events as president of HR Virginia, which hosts an annual conference for 650 human resources professionals, and working overtime to make sure the University of Virginia was safe for students, faculty, staff and visitors. “We’re all learning more about remote work, keeping employees engaged, not allowing a degeneration of service, effectiveness or productivity — all while stress, anxiety, frustration and fear are on the rise,” he says. Although Latsko is optimistic about 2021, he notes that the “paradigm shift” will continue to affect people and workplaces into the new year.
Sophomore at Hampden-Sydney College; member of Virginia Beach Historic Preservation Commission Virginia Beach
Ian Lichacz got called a nerd by his frat brothers for constantly checking Virginia Beach local results on election night — but since age 16, the ambitious, 21-year-old Hampden-Sydney history major has known he was meant for politics. Lichacz knew former Mayor Will Sessoms Jr.’s family through horse-riding circles, and he became an intern in Sessoms’ office, a job that didn’t previously exist. Now, he’s got fundraising and constituent services experience under his belt, having worked for state Sen. Bill DeSteph, R-Virginia Beach, and serves on the city’s Historic Preservation Commission. A self-described moderate Republican who tries to find the “human angle to every issue,” Lichacz is considering running for office one day — possibly after law school. The son of former FBI agents, he says, “I was taught to never lie or try to lie.”
Chairman, Republican Party of Charlottesville Charlottesville
A retired Air Force colonel who led a coalition of U.S. soldiers, American civilians and Afghan recruits on the Afghanistan-Pakistan border in 2008-09, Dan Moy has taken on another challenging role, leading the GOP in the city of Charlottesville. Sometimes jokingly called the “People’s Republic of Charlottesville,” the university town is more than a little liberal. But Moy wants to focus on “fundamental values and principles: clean water, education for kids … family, faith, freedom of expression.” A graduate of the Harvard Kennedy School, Moy says his party’s appeal shouldn’t come down to “one candidate,” i.e., President Donald Trump. He’s also, by the way, writing a book about what American Revolution patriots and British loyalists shared in common.
Michael Pirron made a somewhat surprising return to the data analytics consulting firm Impact Makers in September after leaving two years earlier as its CEO — and settling a lawsuit with its board last year. Founded in 2006, Impact Makers was the state’s first certified B corporation, a business that has a charitable mission, and it has supported Virginia Community Capital and the Community Foundation for a greater Richmond. A former senior consultant with Andersen Consulting (now Accenture plc), Pirron says Impact Makers has recruited a new board of directors focused on social enterprise work and business growth. Also, he says, “we’re committed to becoming a more racially aware and equitable organization. We are wholeheartedly devoted to improvement in 2021 and, ultimately, that requires change.”
Dustin Wahl graduated from Liberty University in 2018, and although he still has great fondness for his alma mater, the bloom fell off the rose in 2016 when then-President and Chancellor Jerry Falwell Jr. endorsed Donald Trump for president, a decision Wahl and others protested. In August, Wahl and fellow Liberty alum Calum Best launched Save71, an alumni organization advocating for reforms at Liberty. The group’s website presents an unflattering timeline of incidents involving Falwell and the university. The scandal-plagued Falwell resigned in August, but Wahl says that he and many alumni, current students and faculty feel the board of trustees also needs to be overhauled: “We think that Liberty needs to take a more humble approach: a focus on a well-rounded, Christian education.”
In a tough year for restaurants, hotels and amusement parks, these professionals rose to the occasion to provide nourishment for our bodies, minds and souls through dining, lodging, spirits, tourism and entertainment.
In 2011, Shoham Amin founded Excel Group, a real estate company that has purchased more than $700 million in hotels and debt instruments, including properties in Springfield, Fredericksburg and Herndon. Amin’s firm placed in Inc. Magazine’s list of fastest-growing real estate firms for three years — topping the category in 2015 — and the company now owns 35 midsize hotels on the East Coast valued between $15 million and $60 million apiece. While 2020 has been extraordinarily difficult for the hotel and hospitality industries, Amin says his company is in the process of raising $150 million in equity to purchase about $500 million in hotel real estate around the nation by 2023.
Bridgette Bywater
Bridgette Bywater
Incoming general manager and vice president, Kings Dominion and Soak City Doswell
As everyone knows, the coronavirus has been hard on theme parks — including Kings Dominion, which did not open this summer for the first time in its 45-year history. Bridgette Bywater was named general manager of the Hanover County amusement park in October after a two-decade career with park owner Cedar Fair Entertainment Co., including, most recently, as corporate director of operations for the company. She also served in various leadership roles at Worlds of Fun and Oceans of Fun in Kansas City, Missouri, where she started out as a seasonal staffer in 1992. Bywater starts her new job in January, which reopened for limited-attendance Christmas holidays events starting in November.
Rachel Bitecofer
Rachel Bitecofer
Scientist; podcaster; editor, The Cycle Newport News
The self-styled “Election Whisperer,” Rachel Bitecofer has been a person to follow on Twitter since her 2018 electoral model predicted the congressional blue wave. In 2020, she left Christopher Newport University’s Wason Center for Public Policy, where she was assistant director and a political science lecturer, because she was denied tenure. She then founded The Cycle, an election forecasting site that heavily favored Joe Biden. She also serves as an unpaid senior adviser for anti-Trump Republican political action committee The Lincoln Project. A staunch progressive, Bitecofer has written that trying to persuade right-leaning voters to change their minds is nearly impossible and that Democrats should focus instead on mobilizing voters. “Everything is being driven by polarization and hyperpartisanship,” she tweeted Nov. 5.
Ethan McSweeny
Ethan McSweeny
Artistic director, American Shakespeare Center Staunton
A director with credits on his résumé from Broadway and Washington, D.C.’s Shakespeare Theatre Company, Ethan McSweeny was named artistic director at Blackfriars Playhouse in 2018, making his Staunton directorial debut with Shakespeare’s tragedy “Julius Caesar.” This year has been a major challenge for all theaters and live performance venues, and the playhouse was no different, shutting down between March and June. However, following medical protocols, the American Shakespeare Center returned in September with innovative live performances of “Othello” — featuring a woman, Jessika D. Williams, in the title role — performed outside, inside a half-filled theater and with streamed performances. “I guess our solution was to surf the wave and hopefully stay afloat,” McSweeny said in an October interview with PBS.
Enjoli Moon
Enjoli Moon
Chair, BLK RVA; founder, Afrikana Film Festival; assistant curator of film and special programs, VCU Institute for Contemporary Art Richmond
Last year, Richmond Region Tourism started its BLK RVA initiative to promote African American tourism in the state’s capital, led by Enjoli Moon, one of Richmond’s film and arts leaders. When the pandemic hit, though, “we did have to pivot and get creative,” she says. BLK RVA started selling merchandise to raise funds for Black-owned restaurants and offered advice and resources for Black business owners — many of whom were starting at a financial disadvantage, she notes. In September, Moon’s fifth annual Afrikana Film Festival, focused on both up-and-coming and established Black filmmakers, successfully went virtual, and Moon is considering mounting a mixture of outdoor and virtual film events at the ICA. The Richmond native is optimistic about the city’s creative scene: “You will not say there’s nothing to do [in Richmond]. That’s really great.”
Brian Prewitt
Brian Prewitt
Master distiller, A. Smith Bowman Distillery Fredericksburg
Although it hasn’t quite reached Kentucky levels, Virginia’s spirits industry has grown prodigiously in recent years, and in 2020 the state created the Virginia Spirits Board. One member is Brian Prewitt, who oversees production at Virginia’s oldest distillery, which has won international awards for its bourbons and other offerings — including “World’s Best Bourbon” at the World Whiskies Awards in 2016 and 2017. Before joining the Sazerac-owned Bowman Distillery in 2013, Prewitt held positions at New Belgium and Great Divide beer brewers, as well as E&J Distillers. He switched from studying pre-med to food science at Colorado State University, telling a whiskey podcaster earlier this year that in the midst of dissecting a cadaver, “I thought, ‘I don’t want to do this anymore.’”
Katie and Ted Ukrop
Katie and Ted Ukrop
Co-owners, Quirk Hotel Charlottesville, Richmond
In early March, Katie and Ted Ukrop opened their second Quirk hotel — in Charlottesville — with a grand gala. The world changed days later — but the Richmond couple did reopen the Quirk flagship hotel in Richmond and the new boutique hotel in late June, with multiple COVID-19 precautions. Quirk hotels offer high-caliber dining, rooftop bars, original artwork and a color palette with punches of pink (the couple’s favorite color). Katie was director of Quirk Gallery, which preceded the hotels and now exists as an artspace adjacent to the Richmond hotel. Richmonders know the Ukrop name from the former grocery chain started by Ted’s family, as well as their civic work. Ted currently serves as chairman of the Virginia Capital Trail Foundation Board of Directors.
From real estate to global construction projects to major business expansions, these are the professionals who are building Virginia’s future and constructing legacies.
President and chief operating officer, Bechtel Corp. Reston
In September, Craig Albert stepped up to fill the gap left by former COO Jack Futcher, who retired from the nation’s largest construction company (which reported more than $25 billion in 2018 revenue) after a 40-year career. Albert, the company’s previous infrastructure business president, oversees the company’s four global business units as well as business strategy and development, diversity and inclusion, regions and corporate affairs. Because Bechtel operates in 160 countries on all seven continents, Albert, who has 22 years of experience with the company, spends time focusing on infrastructure, energy and mining projects at the company.
Evan Antonides
Evan Antonides
Senior vice president of technology, HITT Contracting Inc. Falls Church
As more and more people rely on technology to adjust to the new normal brought on by the pandemic, a pressing need for more data centers and broadband infrastructure has come out of the woodwork. Evan Antonides, the senior vice president of technology for HITT Contracting, one of Virginia’s largest general contractors, says the data center market is seeing an unprecedented surge in demand that will result in record growth in 2021. As such, his focus during 2021 will be working with global cloud and digital infrastructure providers. “Data center providers and design and construction stakeholders will need to drive innovation and adapt to meet the rising demand, while ensuring socially and environmentally conscious development,” he says.
Mike Culpepper
Mike Culpepper
Managing partner, Venture Realty Group Virginia Beach
Mike Culpepper is making waves in Virginia. His company is behind the $325 million Atlantic Park project, a surf park and entertainment center planned for the Virginia Beach Oceanfront and backed by Grammy-winning musician and Virginia Beach native Pharrell Williams. Venture Realty Group — which since 2016 has developed 6 million square feet of projects worth more than $600 million in the Hampton Roads market — partnered with Williams to plan the destination. “We want to be associated with a project that is transformational not only for the oceanfront but for the entire city,” Culpepper told Virginia Business in December 2019. The project is expected to be operational in the next four to five years. As Venture Realty’s managing partner, Culpepper coordinates construction and property management as well as new development and lease coordination.
Matthew Fine
Matthew Fine
President, The Runnymede Corp. Virginia Beach
Carrying on a family legacy, Matthew Fine this spring was promoted to president of The Runnymede Corp., the third-generation, family-owned commercial real estate development company founded by his grandfather, Louis Fine. A Runnymede board member for 30 years, Fine is a founding director of Suffolk-based TowneBank and has owned and managed his own Safe Place storage facilities for 20 years. A glass and granite sculptor, he also owns the Okay Spark Gallery in Norfolk. He and his brother, Jeffrey, have co-written and co-directed independent feature films, including “Art Show Bingo.”
Ted Hanson
Ted Hanson
President and CEO, ASGN Inc. Glen Allen
Ted Hanson made Virginia one Fortune 1000 company stronger. In October, he finished moving the headquarters of ASGN, his California-based technology consulting company, to Henrico County. Hanson joined ASGN in 2012 as chief financial officer when the company acquired Glen Allen-based staffing agency Apex Systems. The company’s $12.4 million investment to bring ASGN cross-country is expected to create 700 jobs across the Richmond, Virginia Beach and Roanoke regions. Hanson credits Virginia’s “strong pipeline of information technology talent for both the commercial and government sectors,” for encouraging the move and plans to grow. Since its June headquarters move announcement, ASGN has also acquired Fredericksburg-based remote sensing and data science provider Skyris LLC and Boston-based consultancy LeapFrog Systems LLC.
Matt Huff
Matt Huff
President, Poe & Cronk Real Estate Group Roanoke
Matt Huff, who became president of Poe & Cronk Real Estate Group in January 2020, takes pride in his Roanoke roots — so much so that he’s made it his mission to encourage development in the region. Having been with Poe & Cronk since 2008, he’s seen growth this year both internally within the company and externally in the Roanoke community. “Roanoke has just had a lot of opportunity and I think that we’ve been the beneficiary of … a [pandemic-driven] migration back to rural communities,” he says. “We’ve definitely seen more people moving back to Roanoke because they have the opportunity to do so.” This year, Poe & Cronk expanded its sales team and in 2021 plans to focus on renovating and expanding its office.
Mark Motley
Mark Motley
President and CEO, Motleys Asset Disposition Group Richmond
Motleys Asset Disposition Group encompasses a large scope of businesses, including commercial real estate, foreclosure and logistics, and property auction services — but has been singularly focused on growth. Mark Motley, who earned his auctioneer’s license at the age of 16, expanded Motleys in late 2019 through the acquisition of Chesterfield County-based River City Auction & Realty LLC. The Motleys industrial division also opened an office in Houston to service the oil and gas industry and held the first auction at its new Roanoke office on Nov. 17. In commercial developments, the company broke ground on Wigwam Crossing, a 22,000-square-foot shopping center in Hanover County. Motleys also expanded its Richmond operations with more than 500,000 square feet of warehouse space.
Nick Ron
Nick Ron
CEO, House Buyers of America Chantilly
In today’s sellers’ market, residential real estate is going fast as buyers rush to purchase homes while interest rates remain attractively low. House Buyers of America offers another option for those who don’t want to go through the trouble of flipping and selling their homes amid the hectic market. Through custom software and a dedication to tech improvements for users, Nick Ron’s company buys, renovates and resells homes in large volumes. The company’s services are initiated through an online web portal that provides sale price estimates to potential sellers in minutes. “The market is going to continue to be strong,” Ron says. “What’s driving the market is limited supply and high demand. That dynamic is not going to change any time soon.”
Matt Smith
Matt Smith
Director of offshore wind business development, Hampton Roads Alliance Norfolk
Winds of change are coming for the energy industry — and Matt Smith is at the forefront of these developments. The Hampton Roads Alliance in July announced a new initiative to develop a comprehensive supply chain to serve the burgeoning East Coast offshore wind industry through a $529,788 grant from GO Virginia. “During 2021, we’ll be working hard to bring offshore wind companies to Hampton Roads and Virginia,” Smith says. Also coming in 2021 is an initiative with Dominion Energy Inc. to educate Hampton Roads and other Virginia businesses about how they can participate in the offshore wind industry. Offshore wind development is already underway off the Virginia Beach coastline, where Dominion has plans to erect the nation’s largest offshore wind farm by 2026.
Terry Spitzer
Terry Spitzer
CEO, Global Technical Systems Virginia Beach
This year, Navy veteran Terry Spitzer’s company landed a $782 million contract to manufacture equipment for his former U.S. Armed Forces branch’s combat system network. Under the contract awarded to Global Technical Systems (founded by Spitzer and his wife, Yusun, in 1997), GTS will manufacture high-tech equipment, including servers, processors, encrypted devices and cybersecurity hardware. They have other big plans in store for 2021, as well. GTS is building a $70 million headquarters and manufacturing facility on the site of the former Owl Creek Golf Course on Birdneck Road. The defense contractor could add as many as 1,100 employees to its existing 100-person workforce after the 630,000-square-foot facility is fully operational in fall 2021.
Jim Utterback
James S. Utterback
Project Director of Hampton Roads Bridge Tunnel Expansion, Virginia Department of Transportation Norfolk
The big dig finally commenced in late October. The Virginia Department of Transportation’s largest-ever project — the $3.8 billion Hampton Roads Bridge-Tunnel (HRBT) expansion — will increase tunnel and interstate capacity along 9.9 miles of Interstate 64 between Hampton and Norfolk in order to reduce congestion and improve access to the Port of Virginia. And James S. Utterback is overseeing it all. Although the project won’t be finished until 2025, Utterback says that in late 2021 Virginians can expect to see the arrival from Germany of a 46-foot-diameter, custom-built underwater tunnel-boring machine, which is as tall as a four-story building and weighs as much as 10 fully loaded 747 airliners. It will dig through soil and construct tunnel segments, a major step in the construction process. It will begin boring in 2022.
From educating Virginians about the offshore wind industry to shepherding $400 million casino resorts across the finish line, these are the people who add to the commonwealth’s conversation and lend a face to ambitious undertakings.
Senior manager, government relations and communications, Ørsted Richmond
The blades started turning this summer on a $300 million pilot offshore wind project years in the making. Offshore wind power generation may be a mature industry, Hayes Framme says, but it’s new to the United States — making education a key component of the effort. That fell to Framme, former deputy secretary of commerce and trade under Gov. Terry McAuliffe. Since November 2017, Framme has served as public liaison in Virginia for Ørsted. The Danish company led engineering, procurement and construction for Dominion Energy Inc.’s two-turbine offshore wind pilot project, located 27 miles off the Virginia Beach coastline. Dominion plans by 2026 to build the nation’s largest wind farm, off the Virginia coast, a $7.8 billion initiative that should generate enough electricity to power more than 650,000 homes. Ørsted is leasing a portion of the Portsmouth Marine Terminal to stage materials and equipment for the venture.
Mark A. Herzog
Mark A. Herzog
Vice president, corporate affairs, Kaléo Richmond
For more than 20 years, Mark Herzog has been a key connector in Virginia’s life sciences industry, which contributes $8 billion to the state economy, according to the Virginia Biotechnology Association. Herzog was hired as the association’s first full-time executive director in 2000. He left in 2012 to become an executive at Health Diagnostic Laboratory Inc. Since 2014, he’s been with Kaléo, known for its portable epinephrine auto-injector, which uses voice instructions to help people counter serious allergic reactions. This year, he helped the company launch its Allerject auto-injector in Canada. Herzog also serves on the Virginia Chamber of Commerce board.
Andy Poarch
Andy Poarch
Chief operating officer, Alliance Group Richmond
There was no guarantee Virginia would legalize casino gambling when Alliance Group was called in September 2018 to help launch what The United Co. CEO Jim McGlothlin characterized as a “moonshot idea” from his childhood friend and business partner Clyde Stacy. The pitch: To build a resort and casino at the dormant Bristol Mall, which had been purchased by Stacy, president of Par Ventures LLC. “They needed to embark on what became a two-year legislative effort,” says Andy Poarch, who led the communications and outreach efforts that helped the planned $400 million Bristol Hard Rock Hotel & Casino receive overwhelming approval from local voters in a November referendum. Planned to begin construction in early fall 2021, the casino will serve as an economic catalyst for Bristol and Southwest Virginia, Poarch says.
Emily Hasty Reynolds
Emily Hasty Reynolds
Executive director of governmental affairs, Hampton Roads Chamber Norfolk
In December, Emily Reynolds marks the end of her first year as director of governmental affairs for the Hampton Roads Chamber. She had plenty of business and politics to keep her busy during a year that coincided with a presidential election and the General Assembly’s extended session during a pandemic. Her duties this year included arranging Virginia’s 2nd Congressional District debate, which the chamber hosted in October. A 2018 Liberty University graduate, Reynolds worked as a legislative aide for state Sen. Stephen D. Newman, R-Lynchburg, before joining the chamber. She’s hopeful the long-lauded Virginia Way will emerge in 2021 and overtake the partisan divide.
Jay Smith
Jay Smith
Partner, Capital Results Richmond
No tax breaks, no public funds — “not one single penny,” Jay Smith says of the planned $500 million Norfolk Resort & Casino. “That resonates with people.” It did for 65% of Norfolk voters, who approved the casino in a November referendum. Smith is spokesman for the Pamunkey Indian Tribe and its Norfolk casino project, which he says will create 2,500 permanent jobs, $30 million annually for Virginia’s public schools and $30 million in new annual revenue for Norfolk. Smith attended Virginia Tech, stayed for graduate school and started with Capital Results a month after it was formed in 1999, helping a variety of clients with messaging and public relations. The Pamunkey tribe, which also wants to build a casino in Richmond, plans to start work on its Norfolk project in 2021, when Smith also has his sights set on climbing Mount Rainier.
Molly Whitfield
Molly Whitfield
President and chief operating officer, Madison+Main Richmond
After spending the bulk of her career at Richmond branding, marketing and public relations agency Madison+Main, Molly Whitfield was named president in March. She joined the firm as traffic and production manager in 2007, working in every area of the agency for 13 of its 15 years. With Whitfield adding president to her title, Madison+Main’s founder and previous president, Dave Saunders, has been elevated to chief idea officer. Whitfield, who was born in Florida and grew up in Virginia, expects remote work to continue in 2021. She’ll also keep a business model that focuses on clients who make up no more than 15% to 20% of total billings. “I really am focused on overall efficiency,” Whitfield says, “and streamlining different things we do so that we can focus on the creativity.”
Growing up in Seattle, Jason Crabtree was more likely to be found raising and showing Angus cattle than stuck inside on a computer. But now his career revolves around data. With 220 employees, Qomplx has grown “hundreds of percent” in each of the last two years, he says. It closed on $78.6 million in Series A financing in July 2019. A West Point graduate, Crabtree met Qomplx co-founder Andrew Sellers while attending the University of Oxford to study engineering science on a Rhodes Scholarship. Both were in graduate programs while on active duty. “Risk is really just a consequence of dependence,” says Crabtree, who served as an infantry officer in Afghanistan. Qomplx helps companies manage risk, making sense of data to drive decisions. Crabtree aims to help clients navigate “what I think will be an increasingly turbulent century.”
Tom Deierlein
Tom Deierlein
Co-founder and CEO, ThunderCat Technology Reston
Tom Deierlein saw a pandemic hit in the year his company marked its 10th anniversary. In response, ThunderCat Technology entered a new arena, partnering with UV Angel Inc. to offer germicidal ultraviolet light products to health care facilities. Six months later, ThunderCat announced that it became one of 31 contractors to win part of a $13 billion, 10-year contract to provide information technology enterprise solutions software to the U.S. Army. A West Point graduate and retired U.S. Army major, Deierlein received a Bronze Star and Purple Heart for his service in Iraq, where he was shot by a sniper. He also runs TD Foundation, a nonprofit he co-founded to help families and children of veterans who were wounded or died in service.
Luiz DaSilva
Luiz DaSilva
Executive director, Commonwealth Cyber Initiative; Bradley Professor of Cybersecurity, Virginia Tech Arlington
If you hadn’t noticed from the new iPhone, 5G is having a moment. Luiz DaSilva, the Bradley Professor of Cybersecurity at Virginia Tech, is immersed in the wireless networking technology. In October 2019, he was tapped as the first executive director of Virginia’s Commonwealth Cyber Initiative, which is based at the Virginia Tech Research Center in Arlington. DaSilva and his team deployed the first 5G research testbed in Virginia this year, he says. Next year, the project will expand outdoors “to support connected vehicles, drones, ports and warehouses and smart cities.” DaSilva, who co-authored the book “Game Theory for Wireless Engineers,” also aims to launch an AI testbed in 2021.
Dr. Eric Edwards Photo by Nick Davis
Dr. Eric Edwards
CEO, Phlow Corp. Richmond
When Dr. Eric Edwards started working with Frank Gupton on a venture in spring 2019, little did they know how prescient their goals would be. Edwards was helping Gupton, a VCU pharmaceutical engineering professor and CEO of the university’s Medicine for All Institute, to address drug shortages. “Fortuitous,” Edwards calls it. Because when COVID-19 hit, the need to secure, protect and repatriate the supply chain of essential, vulnerable medicines was heard loud and clear. The Trump administration awarded Edwards’ startup, Phlow Corp., with a $354 million, four-year contract in May. “It’s occurring lightning-fast,” Edwards says. R&D and manufacturing programs are up and running, and Phlow is building out a pharmaceutical hub that will bring more than 350 jobs to Petersburg.
Charis Jones
Charis Jones
Owner and designer, Sassy Jones Richmond
It takes a bold attitude to wear the looks dreamed up by Charis Jones, she says. Big and vivid, her jewelry and handbags turn heads and lift revenue. This summer, her company, Sassy Jones, became the No. 1 Virginia company (and No. 75 overall) on the Inc. 5000 ranking of the country’s fastest-growing, privately held companies. Her e-commerce site has a 75% return customer rate, Jones says, compared with an industry average of about 30%. She serves the “professional, African American woman,” Jones says. What resonates with her customers? “It’s simply how it makes her feel,” she says. “We don’t sell jewelry; we sell confidence.” Sassy Jones builds bonds with innovative methods such as livestreams, dinners — and even a cruise to the Bahamas. The company recently made its HSN debut, and Jones will also be appearing on the HBO Max show, “Stylish with Jenna Lyons,” which debuts in December.
Josh Levi
Josh Levi
President, Data Center Coalition Loudoun County
Josh Levi left a 20-year career with the Northern Virginia Technology Council in July 2019 to become inaugural president of the Data Center Coalition. The group was created to advocate for the data center industry in Virginia, which it says holds the world’s largest data center market. Levi, a graduate of Virginia Tech with a law degree from the University of Richmond School of Law, can draw upon his network built at the council, where he was vice president for policy. He has grown the association from six member companies to 14 data center owners and operators. In 2021, he says, the coalition will increase community engagement to focus on philanthropy, sustainability and workforce issues.
Haniel Lynn
CEO, Kastle Systems Falls Church
In a year when security and safety were put to the test, Haniel Lynn responded with the launch of KastleSafeSpaces in May. It leveraged the company’s internet of things and smartphone services to offer such features as hands-free opening of elevators and office doors, health screenings, contact tracing, and occupancy monitoring to prevent overcrowding. Lynn, a graduate of the University of Pennsylvania with an MBA from the Wharton School, joined Kastle Systems as CEO in November 2018. He came from a 16-year career at CEB, now Gartner, where he served as a group president. Kastle says it’s the largest managed security services provider in the country, maintaining security for more than 40,000 businesses.
Charles Merritt
Charles Merritt
Co-founder and CEO, Buddy Richmond
Calling it “insurance for risk-takers,” Outside magazine named Buddy as one of “The Next-Gen Outdoor Innovations We’re Watching.” The on-demand accident insurance startup, founded by Charles Merritt and two fellow outdoor enthusiasts, is drawing attention for streamlining a typically burdensome process. Through the Buddy platform, customers can quickly purchase no-deductible, short-term insurance, with benefits paid directly to them. Merritt is a graduate of the University of North Carolina and the VCU Brandcenter. His company’s mission is “to help people fearlessly enjoy an active and outdoor life.”
Dr. William A. Petri
Dr. William A. Petri
Professor of medicine and vice chair for research of the Department of Medicine, University of Virginia Charlottesville
Virginia and other states are laying the groundwork for the distribution of COVID-19 vaccines, understandably a topic of intense global interest. Dr. William Petri has been in the midst of vaccine research at the University of Virginia School of Medicine, where he studies immunology and molecular pathogenesis of infectious diseases. In a September article for The Conversation, in which he discusses his research and care for patients with the virus, he writes, perhaps presciently, that “it is likely that not just one but several of the competing COVID-19 vaccines will be shown to be safe and effective by the end of 2020.”
Michael Saylor
Michael Saylor
Chairman and CEO, MicroStrategy Tysons
If you follow Michael Saylor on Twitter, you might know that he’s been tweeting nearly daily, and almost exclusively, about cryptocurrency since Sept. 15. That’s the day he announced that MicroStrategy, a business intelligence and mobile software company he co-founded, converted $425 million in cash holdings to bitcoin. In one tweet, he called it “the first true monetary network, spreading thru humanity like a cyberfire.” Saylor grew up in a military family, graduated from the Massachusetts Institute of Technology and joined the Air Force Reserve. He’s an inventor, author and philanthropist who draws audiences with his business ideas and outlooks. One of his latest perspectives, shared on Twitter: “The destiny of money is to be encrypted.”
Jeff Stover
Jeff Stover
Executive adviser to the commissioner,
Virginia Department of Health
Richmond
Have you downloaded COVIDWISE? Great, Jeff Stover says: “Now you need to tell all your friends and neighbors.” Available on the Google and Apple mobile platforms, the coronavirus exposure-notification phone app is one of Virginia’s sharpest public arrows aimed at the coronavirus. Stover is at the helm of the program and its awareness campaign, which launched Aug. 5. In October, downloads were approaching 725,000. No location or personal data is tracked, but users notify the app if they test positive. Other app users whose phones have been near yours are notified anonymously. A Page County native, Stover says 2021 will bring a continued fight against COVID-19 while balancing other public health goals. “That’s going to be a dance.”
Tom Walker
Tom Walker
Founder and CEO, DroneUp Virginia Beach
If you gazed upward in the Las Vegas area this fall, you might have seen one of Tom Walker’s drones delivering a COVID-19 self-testing kit from Walmart to a customer’s front porch. The pilot program, launched in September, completed about 500 deliveries by November. Walker, a U.S. Navy veteran, says DroneUp is the country’s fastest-growing drone company. Business, he says, has doubled, tripled, quadrupled and quintupled in the last four quarters. Walker worked with his wife, Dyanne, on their Web Teks software development company, which launched in 1999 and for which she serves as CEO. But 3½ years ago, Walker got into drones. Since the spring, DroneUp has helped governments and companies with delivery technology, adding to its service portfolio of inspections, analysis, property surveys and surveillance.
Ranked as CNBC’s Top State for Business in 2019, Virginia earned the distinction in part for its “wealth of colleges and universities,” lauded by CNBC as the nation’s best. These are some of the educators and administrators who are helping to preserve and grow that reputation.
President, Thomas Nelson Community College Hampton
It takes a unique set of skills to oversee a school like Thomas Nelson, says Towuanna Porter Brannon, who takes the reins of Virginia’s fifth-largest community college in January. A first-time president but longtime administrator, she’s served at various two-year and four-year schools, including the New York Institute of Technology and North Carolina’s Mitchell Community College. “Federal funding for community colleges has diminished,” she says. “Students are faced with so many competing priorities as parents and caretakers, working multiple jobs. The challenge is to prepare them with the best education using these limited resources.” Brannon, who holds a doctorate in education from Fordham University in New York City, will immediately focus on helping the approximately 11,000-student, multiple-location college work closer with local businesses to provide “the finest talent pool available.”
Jeannette Chapman
Jeannette Chapman
Director, The Stephen S. Fuller Institute, Schar School of Policy and Government, George Mason University Arlington
Do facts still matter to you? Then, in the greater Washington, D.C., area, Jeannette Chapman is the wonk to know. The director of GMU’s Fuller Institute is one of the area’s most trusted analysts, crunching the data on a grand spreadsheet of regional concerns — housing trends, the growing technology sector, the area population base and the long-term economic effects of COVID-19. “I examine all of the factors that currently, or could potentially, affect the region’s growth,” she says. That doesn’t mean everyone listens. “We always hope there is more that is acted on with our research,” she says diplomatically. “Some people tend to focus on what’s in the next three months and not concentrate on the important structural changes.”
Lance Collins
Lance Collins
Executive director and vice president, Virginia Tech Innovation Campus Alexandria
Lance Collins knows how to connect academia with the technology sector, and how to unite people from distant communities. In his prior job as Joseph Silbert Dean of Engineering at the Cornell University College of Engineering, the new leader of Virginia Tech’s $1 billion Innovation Campus was responsible for spearheading Cornell University’s ambitious Cornell Tech campus in New York City. Collins not only diversified Cornell’s enrollment to include more female and minority students, he forged close ties between Cornell’s Ithaca, New York, campus and Cornell Tech, 234 miles away on Roosevelt Island — nearly the same distance between Tech’s Blacksburg location and the Innovation campus in Alexandria. Collins earned his bachelor’s in chemical engineering at Princeton, and master’s and doctoral degrees from the University of Pennsylvania.
Marcia Conston
Marcia Conston
President, Tidewater Community College Norfolk
Marcia Conston oversees Virginia’s second-largest community college. With 32,000 students, Tidewater Community College was founded in 1968 and is considered the biggest higher ed and workforce training provider in Hampton Roads. Conston became TCC’s sixth president in January 2020, having spent more than half of her 30-year educational career as the vice president for enrollment and student success services at Central Piedmont Community College in Charlotte, North Carolina, where she grew student enrollment, expanded federal work study programs and established scholarship opportunities. The Jackson State University graduate holds her master’s from Hood Theological Seminary in North Carolina and earned her doctorate from the University of Southern Mississippi. She counts freelance writing as one of her hobbies and has authored two books about religion and spirituality.
Kristin Gehsmann
Kristin Gehsmann
Professor and director of the School of Education, Virginia Tech Blacksburg
On the job since August, Kristin Gehsmann was previously a professor and chair of East Carolina University’s Department of Literacy Studies, English Education and History Education, where she fostered an inventive online master’s program, improved department rankings and raised millions for research projects. In addition to overseeing the Virginia Tech School of Education, which offers 18 master’s degrees, 20 doctoral degrees and 14 teaching licensure programs, the alum of Central Connecticut State University and the University of Vermont will also work in the classroom as a professor. The former elementary school teacher authored two textbooks on literacy development and assessment and has said that her focus at Tech will be on “equity and innovation in education. We need to put ladders in place so more people can reach their goals.”
Carmenita Higginbotham
Carmenita Higginbotham
Dean, Virginia Commonwealth University School of the Arts Richmond
The new head of VCU’s prestigious arts program says that she wants to keep true to the school’s success. “But my goal is a little different than most deans. I want to grow the school in ways that are about creative innovation, not just increasing the student body or building construction.” An art historian, Carmenita Higginbotham earned her bachelor’s, master’s and doctoral degrees from the universities of Minnesota, Massachusetts and Michigan, respectively, and was formerly the chair of the McIntire Department of Art at the University of Virginia. She’s also an expert on American popular culture — she dissected the oeuvre of Walt Disney for a recent PBS documentary and penned exhibition notes for the recent Edward Hopper exhibit at the Virginia Museum of Fine Arts. “What I do is a balance between popular culture and high art. It’s culturally important,” she says. “And fun.”
Mary Dana Hinton
Mary Dana Hinton
President, Hollins University Roanoke
Being a leader during COVID times is like running a marathon, says Mary Dana Hinton, who in August became president of the women’s liberal arts college, known for its English and creative writing programs. “You don’t know where it ends or where you are in the race,” she says. She’s used to big challenges. As president of the private College of Saint Benedict in Minnesota, Hinton oversaw a record $100 million fundraising campaign and $43 million in construction. The small-town, Kittrell, North Carolina, native recalls being discouraged by school counselors from seeking a higher education but didn’t listen, eventually earning a doctorate in religious education, a master’s degree in clinical child psychology and a bachelor’s degree in psychology. “Every human being wants to be seen, heard and valued,” she says, “so my leadership style is to see, hear and value each person I encounter.”
Nicole Thorne Jenkins
Nicole Thorne Jenkins
Dean, McIntire School of Commerce, University of Virginia Charlottesville
Nicole Thorne Jenkins business career started early, as a bookkeeper for her parents Maryland waste removal business. “I was good at math but originally wanted to be an engineer,” the University of Iowa graduate recalls. Formerly a professor and vice dean of the Gatton College of Business at the University of Kentucky, she comes to the distinguished McIntire School, with its 700 undergraduate and 300 graduate students, having practical first-hand industry experience from working at PricewaterhouseCoopers. “There’s a gap between what you learn in the classroom and what you do day to day in business,” she says, adding that the pandemic is changing the ways business is being done. “Things are shifting. As the leading business school, we have to be responsive to that.”
Jerry Prevo
Jerry Prevo
Acting president, Liberty University Lynchburg
After several embarrassing scandals related to former Liberty president Jerry Falwell Jr., Tennessee-born Jerry Prevo is all about stability. He takes over Virginia’s largest university (one of the world’s largest Christian universities), having served as chairman of Liberty’s board of trustees since 2003. A University of Tennessee graduate, Prevo recently retired (after nearly a half century) as senior pastor for Anchorage Baptist Temple, which he essentially built from scratch into one of Alaska’s largest churches. A prominent evangelist and entrepreneur, Prevo has received criticism from the LGBTQ community for positions he’s taken over the years opposing gay rights. As chairman and CEO of Christian Broadcasting Inc., Prevo runs TV and radio stations in Alaska, where his church also offers preschool-to-high school education through Anchorage Christian Schools, the largest Christian educational network in the state.
Kenneth Randall. Photo courtesy George Mason University
Kenneth Randall
Dean, Antonin Scalia Law School at George Mason University Arlington
GMU’s new Scalia Law dean isn’t just an accomplished academic leader, he’s an expert in distance learning, something every institution needs during a pandemic. In 2013, Kenneth Randall founded iLaw Ventures Distance Learning, a company that’s become an industry leader, partnering with 25% of law schools nationwide. He’s something of a legend at the University of Alabama where, during his two-decade tenure as dean of the law school, Alabama’s U.S. News & World Report law ranking jumped from No. 96 to 21. He was named one of the nation’s most transformative legal deans by Leiter’s Law School Reports. Randall holds doctoral and master’s degrees in international law from Columbia University; a master’s degree in law from Yale University; and a law degree from Hofstra University.
A. Benjamin Spencer
A. Benjamin Spencer
Dean and chancellor professor, William & Mary Law School Williamsburg
The new dean of America’s oldest law school, A. Benjamin Spencer is steeped in trailblazing. His father, the Hon. James R. Spencer, was Virginia’s first Black federal judge, and grandfather Dr. Adam Arnold helped integrate Notre Dame University. “I’m learning that being dean of a law school is a lot like running a business,” says the younger Spencer, who became the first African American dean of any William & Mary school in July. The former Thurgood Marshall Distinguished Professor at the University of Virginia says that he’s coming to W&M as a change agent. “I wasn’t brought here to just manage the school; I was hired to take it to the next level.” The Hampton native and father of nine children holds a bachelor’s degree from Morehouse College, a law degree from Harvard Law School and a master’s degree from the London School of Economics.
Gregory Washington
Gregory Washington
President, George Mason University Fairfax
GMU’s first African American president, Gregory Washington is a proven innovator in the field of dynamic systems, not just in the engineering sense but in the organizational. The first in his family to attend college, he earned his bachelor’s, master’s and doctoral degrees in mechanical engineering from North Carolina State University and taught for 16 years at Ohio State University before becoming the first Black dean of the Samueli School of Engineering at the University of California, Irvine. During his tenure, Washington increased school enrollment, diversified the faculty, increased experiential learning and helped establish the Horiba Institute for Mobility and Connectivity. He also established OC STEM, one of the nation’s first initiatives to promote STEM education and careers in public schools.
There’s massive work underway in the Hampton Roads maritime industry, with much more on the horizon. The region is hiring, big-time.
But are there enough qualified candidates to fill the jobs?
Regional leaders want to get ahead of the question, they say, considering the window of opportunity and what’s at stake for the area’s economic future.
With the U.S. Navy rebuilding its fleet to a possible 355 ships, up from about 290, there’s a 10-year backlog at Newport News Shipbuilding, which is building nine Virginia-class Block V attack submarines with General Dynamics Electric Boat, as part of a $22.2 billion contract awarded last December, the Navy’s largest-ever shipbuilding contract.
NNS has hired 11,670 workers since 2017 and plans approximately 2,500 hires this year, based on the trades and salaried openings — though hiring was put on hold this spring as a result of the COVID-19 crisis. (By early April, 13 NNS employees tested positive for the virus.)
Meanwhile, the Port of Virginia wrapped up the $320 million Virginia International Gateway terminal expansion in 2019 and is midway through its $375 million Norfolk International Terminals expansion project. To beef up its competitive advantage, it aims to be the East Coast’s deepest port, with a dredging project scheduled to be finished by 2024.
Then there’s offshore wind energy, which is working its way toward reality. The Virginia Department of Mines, Minerals and Energy estimates that the industry will create about 14,000 jobs in the commonwealth.
Consider that more than 6,000 separate components must be manufactured to construct an offshore wind turbine, department spokeswoman Tarah Kesterson says.
“Many of the skill sets used for building ships will be needed to build offshore wind turbines,” she says. “As the offshore wind industry grows, we want to make sure we have enough people to meet the demand of both industries.”
A long legacy
The solution isn’t as simple as hanging out a “help wanted” sign.
It’s more of a rallying cry. One set of initiatives to build workforce development efforts is the Maritime Industrial Base Ecosystem, or MIBE, a regional campaign based at Old Dominion University.
The project, which is a little more than a year old, has drawn some of the region’s employers and industry forces together to communicate, strategize, make investments and create long-term plans around the regional maritime talent pipeline and supply chain.
At its core is broadening what maritime means, says Virginia Maritime Association Executive Director David White, a member of the MIBE strategy board. People have tended to view the industry through the lens of either shipbuilding and repair, or the activities of the commercial ports. But the maritime industry encompasses those sectors and more — as well as offshore wind.
It’s also a large group of industries that includes trucking, railroads, warehouse, logistics, legal, engineering and technology firms, White says, and all will be offering employment opportunities.
The entire 757 region is driven by its position as a coastal port, says White. The VMA, formed 100 years ago, has more than 450 member companies, many of which are headquartered in Hampton Roads.
That history underscores the legacy of the maritime industry in the state — not to mention the Port of Virginia’s long history, which traces back to the historic Jamestown colony in 1607.
Such longevity and economic impact would seemingly make the region’s relevance to the maritime industry apparent. But White says more must be done to raise the profile of Hampton Roads to the industry in a significant way.
“We need to own it, claim it and let the rest of the world know that Hampton Roads is the epicenter of maritime,” White says, “if not nationally, then on the East Coast.”
Maritime is money
The maritime industry’s economic impact on Virginia includes 530,800 jobs and more than $88 billion in annual spending — a little more than 10% of Virginia’s gross state product, he says, citing a 2019 study by two William & Mary professors.
The significance isn’t lost on the state, which last year helped secure a $1.5 million U.S. Department of Defense grant for MIBE and $1.4 million for Martinsville-based GENEDGE Alliance, which assisted small defense companies with national cybersecurity compliance.
“Our collective efforts are underway to transform the maritime industrial base workforce of tomorrow,” said MIBE Chairman David Architzel, a retired vice admiral in the U.S. Navy, when Gov. Ralph Northam announced the grant in July 2019.
A former test pilot and commanding officer of the USS Theodore Roosevelt, Architzel left the Navy a little more than seven years ago. Since then, he ran marine vessel repair facility Fairlead Boatworks for a few years and also became ODU’s military affairs director in 2013.
In early March, ODU President John R. Broderick announced the university’s intention to “position ODU as an anchor institution for the region’s maritime strategic direction.”
The move coincides with a report from the university’s Economic Development Catalyst Task Force that maritime would be the focus of its work, Broderick said, pursuing “five projects related to Navy sustainment, offshore wind, resilience, targeted talent pipelines and an overall situation analysis.”
ODU is among the region’s academic resources for strengthening and shaping the workforce. Hampton Roads has eight colleges and universities, four community colleges and five major technical schools that produced 29,000 graduates in 2016, according to the Hampton Roads Economic Development Alliance.
There’s also a civilian labor force in the region of 823,000 people, and other workforce training programs underway, such as those fueled by the Virginia Ship Repair Association (VSRA), which are separate from the MIBE initiative.
The VSRA’s mission includes attracting new workers and connecting its 293 member companies with training resources.
Bill Crow, president of the Virginia Ship Repair Association, says his organization’s marine-trade training program had a 90% hiring rate last year. Photo by Mark Rhodes
Bill Crow, VSRA president, says 2019 was “a banner year for all of our training programs.” The entry-level Marine Trade Training Program has trained more than 1,400 individuals since 2017, with a 90% hiring rate and an 88% retention rate, he says. The association’s members account for more than 60,000 jobs and a regional economic impact of $6.4 billion.
Nevertheless, Crow says, “COVID-19 has certainly impacted our training, just as it has everyone.” The association postponed classes with 10 or more students and has monitored the outbreak closely. The VSRA offers several online training programs, and Crow is working with its members to prepare for short-term import and export increases after the situation normalizes.
The big picture
Eyes also are on the 10 public school districts in Hampton Roads, where MIBE leaders hope to begin expanding on efforts to reach students in their teenage years — exposing them to trades and technologies that drive the maritime industry. This program is in the planning stages and will take a year or so to start, says Herman Shelanski, a retired Navy vice admiral and vice president of Newport News Shipbuilding. They’d come out of school with a skill set that makes them immediately employable, he adds.
Efforts can’t be simply about training young people, he says. Sustainable employment is meaningful, it speaks to the person — but if students don’t know much about a trade, or whether it exists, they may not find it.
If it’s in their backyard, there’s a better opportunity.
“We were blessed with the most incredible waterway system in the country,” Shelanski says. He describes the inlets, the Chesapeake Bay and deep-water channels that are protected from hurricanes and don’t freeze over as a natural foundation for “the place that is at the forefront of the industry.”
Like most initiatives, MIBE plans aren’t immune from the COVID-19 situation. Shelanski says the group is likely to modify or adjust its thinking in these early planning stages because of the rapidly changing headlines.
“I have to say that the surprise and the speed of this crisis have gotten in front of MIBE’s strategic plans, but clearly there will be major effects that will have to modify or adjust our thinking,” he says. “NNS is keeping in constant touch with our supply base.”
But the big picture remains — thinking about the future of the region’s maritime workforce, technology, communication and supply chain.
Shelanski envisions MIBE as a way to support the health of the supply base — the small-business partners on which the industry relies. MIBE will be exploring what they need to be more successful, and what help can be offered.
“It’s not easy for someone to wake up in the morning and say, ‘Hey, I’m really good at making this valve, maybe I’ll try selling this to the Navy,’” he says. It’s not intuitive, and people need guidance to transition into this competitive place, he says: “We’re working on making that easier.”
As for Newport News Shipbuilding, Shelanski says, success depends on the success and growth of Hampton Roads. “If we get on this now,” he says, “this region will be the shining light in the industry.”
With 21 companies listed on the Fortune 500, Virginia is home to many powerful and influential business leaders but naturally some are more involved in their communities and exert more pull in the state than others.
This year’s list of Virginia’s most influential businesspeople ranges from defense contractors, bankers and health system CEOs to a hotelier, a grocery chain operator, high-ranking tech executives and one global pop music superstar.
Some of the new additions to this year’s list include:
Federal Reserve Bank of Richmond President and CEO Thomas Barkin
Perspecta Inc. President and CEO Mac Curtis
Amazon.com Inc. Vice President of HQ2 Workforce Development Ardine Williams
Platinum-selling recording artist Pharrell Williams
Read on to find out how each of these leaders is contributing to business and leaving their imprint on the commonwealth.
Nancy Howell Agee, president and CEO, Carilion Clinic Inc., Roanoke
Why she is influential: Agee, the former chair of the American Hospital Association, leads Carilion, which serves one million people and in fiscal 2018 employed 13,317 and drew revenue of $1.8 billion. Carilion has a significant effect not only on the Roanoke and New River valleys and 21 counties in the region, but also on Virginia. The health system has an economic impact on the state of $3.2 billion and 23,719 jobs, according to a January study by the University of Virginia’s Weldon Cooper Center for Public Service.
Recent developments: This spring, Carilion is set to begin a $300 million, multiyear expansion of its flagship Roanoke Memorial Hospital. It’s the beginning of a $1 billion capital improvements initiative announced last year. Also in 2019, Modern Healthcare named Agee one of its Top 25 Women Leaders and she ranked No. 9 on its list of Most Influential Clinical Executives.
Neil Amin, CEO, Shamin Hotels, Chester
Why he is influential: Shamin Hotels, founded by Amin’s father and based in Chesterfield County, is the Richmond region’s largest hotel operator. In January, the company purchased its 60th hotel, the Hyatt Place Richmond Chester. An alum of Goldman Sachs & Co., Amin sits on several Virginia nonprofit boards, including Richmond Region Tourism and the Virginia Council on Economic Education.
Recent developments:In JanuaryShamin purchased the Richmond Times-Dispatch building in downtown Richmond, which the company will use as its new headquarters, while leasing space to the newspaper and other tenants. In Chesterfield, the company is building an upscale, 200-room hotel and conference center in the Stonebridge development. Construction started last fall on Shamin’s long-awaited Moxy Hotels by Marriott project in downtown Richmond, purchased in 2016. And Shamin is collaborating with local developer The Rebkee Co. to build a hotel next to a Henrico County-owned indoor sports arena scheduled to open in 2022 at Virginia Center Commons mall.
John C. Asbury, president and CEO, Atlantic Union Bankshares, Richmond
Why he is influential: Asbury transitioned from a career with large financial institutions to help build a regional Virginia bank. The plan coalesced with the acquisition of Reston-based Access National Bank, a $500 million deal that closed in February 2019. Asbury serves on boards such as the Virginia Chamber of Commerce, Chamber RVA and the Virginia Foundation for Independent Colleges.
Recent developments: The bank’s parent company announced a rebrand of Union Bank & Trust to Atlantic Union Bank in May 2019 and reported net income of $193.5 million last year. Headquartered in Richmond, the bank is expanding into additional office space in Henrico County to accommodate recent growth. In a January earnings call, Asbury said he hopes to “take advantage of the disruption caused by” the merger of SunTrust and BB&T into Truist Financial Corp. The governor appointed Asbury to the Virginia Port Authority Board of Commissioners last year, and in June he becomes chairman of the Virginia Bankers Association.
G. Robert Aston Jr., executive chairman, TowneBank, Portsmouth
Why he is influential: An industry veteran, Aston’s first banking job, in high school, paid $1.15 an hour. In April 1999, he co-founded TowneBank — now one of the biggest banks in the state and the largest regional bank in Hampton Roads, with 42 banking offices throughout Virginia and North Carolina, and $11.95 billion in total assets at the close of 2019.
Recent developments: It’s been a year since TowneBank saw a huge leap in earnings — a 52.62% increase from 2018 to 2019 that Aston attributed to strong performance and a merger with Paragon Commercial Corp. Though less dramatic, the bank’s growth continued last year, with a 3.73% increase in earnings to $138.78 million. The bank opened its first Greensboro, North Carolina, office, with further expansion on tap into the Tar Heel State.
Thomas Barkin, president and CEO, Federal Reserve Bank of Richmond, Richmond
Photo by Caroline Martin
Why he is influential:Taking over leadership of the Richmond Fed in January 2018, Barkin is responsible for the bank’s monetary policy, bank supervision and regulation and oversees information technology for the Federal Reserve System. He also serves as an alternate member on the Federal Open Market Committee, the Fed’s chief monetary policy body that sets interest rates. Before coming to the Fed, Barkin worked for 30 years for McKinsey & Co., the nation’s biggest management consulting firm, where he was a senior partner, recently serving stints as McKinsey’s chief financial officer and chief risk officer.
Recent developments:Barkin has used his clout to bring attention to the economic disparities in rural areas within his purview in the Fed’s Fifth District, which includes Virginia, Maryland, West Virginia and the Carolinas. In October, the Richmond Fed hosted its first Investing in Rural America conference, focusing on issues such as economic development, education, workforce development, broadband and labor force participation. In particular, he lamented the closures of rural banks, hospitals and colleges, which he said have contributed to economic gaps and community isolation.
Gilbert T. Bland, chairman, The GilJoy Group, Virginia Beach
Why he is influential: Bland has owned a portfolio of more than 70 Burger King and Pizza Hut franchises for 35 years. He also serves on a variety of boards, including the Virginia Museum of Fine Arts, Randolph-Macon College, the Virginia Chamber of Commerce and Sentara Healthcare. For the last year and a half, he’s been president and CEO of the Urban League of Hampton Roads Inc.
Recent developments: In the wake of Gov. Ralph Northam’s blackface controversy last year, Bland served on a community advisory group to investigate the matter for Eastern Virginia Medical School. Since then, Northam tapped Bland for a new Virginia African American Advisory Board. In that role, he is one of 21 citizen members advising the governor on strengthening “economic, professional, cultural, educational and governmental links” between state government and the African American community.
Jennifer Boykin, president, Newport News Shipbuilding, and executive vice president, Huntington Ingalls Industries, Newport News
Why she is influential: A marine engineer, Boykin is the first woman to serve as president of Newport News Shipbuilding, the largest industrial employer in Virginia. The division of Huntington Ingalls Industries grew to $4.72 billion in annual revenue in 2018. Boykin also maintains a strong presence in the business community and works to empower women and girls.
Recent developments: Newport News Shipbuilding landed a huge piece of business from General Dynamics when the defense contractor won a $22.2 billion contract from the Navy — the largest-ever awarded — in late 2019. Under the contract, Boykin will continue to ramp up the shipyard’s workforce to help build five high-tech, fast-attack submarines. Also in the last year, Boykin has stepped in to serve as chair of the United Way of the Virginia Peninsula’s annual drive.
Teresa Carlson, vice president, worldwide public sector, Amazon Web Services, Herndon
Why she is influential: The ever-expanding Amazon has shored up its presence in Northern Virginia with its HQ2 East Coast headquarters in Arlington. But Carlson, who spoke at Fortune’s Most Powerful Women Summit in October, has been a formidable presence for a decade. She founded the public-sector unit of Amazon Cloud Services. Its customer count, she said in an October interview with Computer Weekly, includes more than 5,000 government agencies, 10,000 educational institutions and 28,000 nonprofits.
Recent developments:While it grows across the globe, AWS is helping shepherd a state workforce development program in cloud computing announced by the governor in September. It offers educational programs for some K-12 school divisions, the Virginia Community College System and six four-year universities. That includes the launch of a cloud computing degree at Northern Virginia Community College and George Mason University.
Steve Case, chairman and CEO, Revolution LLC, Washington, D.C.
Why he is influential: Case is why everyone over a certain age knows “You’ve got mail!” The co-founder of America Online, Case now helms Revolution, an investment firm that backs startup businesses. He also is chairman of the Case Foundation and joined The Giving Pledge, affirming that he and wife Jean would give away the majority of their wealth to philanthropic causes.
Recent developments: For the ninth time, Case is launching his Rise of the Rest road trip this April, awarding a startup company $100,000 at each of five stops in Kansas, Oklahoma, Arkansas and Missouri. Since 2014, Case has toured 43 cities. Also, in October, Rise of the Rest closed its second $150 million fund with investors such as Amazon’s Jeff Bezos, Google’s Eric Schmidt and Spanx’s Sara Blakely.
C. Daniel Clemente, chairman and CEO, Clemente Development Co. Inc., Tysons
Why he is influential: A Northern Virginia developer since 1965, Dan Clemente has been an instrumental participant in the shaping of Tysons into its present-day status as perhaps the nation’s premiere experiment in urban placemaking. A former rector of George Mason University and chair of its board of trustees, Clemente serves on the board of the Virginia Economic Development Partnership.
Recent developments: The capstone of Clemente’s development career is close to fruition as Fairfax granted key approvals late last year for The View at Tysons, his $1.3 billion, 3 million-square-foot mixed-use, live-work-play development. Its plans include the appropriately named Iconic Tower, which, at 600 feet tall, will rise higher than the Washington Monument and will be the tallest building in Virginia.
Mac Curtis, president and CEO, Perspecta Inc., Chantilly
Photo by Will Schermerhorn
Why he is influential:A Virginia Military Institute alum and member of the Military Bowl’s board of directors, Curtis was named Executive of the Year in the greater than $300 million category at the Greater Washington Government Contractor Awards in November. Based in western Fairfax, Perspecta has more than 14,000 employees and won several big federal contracts last year, including an $824 million, five-year deal with the National Geospatial Intelligence Agency and a $657 million extension on its Next Generation Enterprise Services (NGEN) contract to continue IT services for the U.S. Department of the Navy. The company also completed its first acquisition last July, purchasing Knight Point Systems, a cloud and cyber-focused IT company. In October, Amazon Data Services Inc. bought Perspecta’s 57-acre campus near Route 28, including its headquarters, which once was home to Ross Perot’s Electronic Data Systems Corp.
Recent developments:In February, Perspecta lost the NGEN contract to Reston-based Leidos, which was awarded an eight-year, $7.7 billion deal with team members IBM, Unisys and Verizon, beginning in 2022. The contract makesup more than 15% of Perspecta’s annual revenue.
Benjamin J. Davenport Jr., chairman, First Piedmont Corp. and Davenport Energy Inc., Chatham
Why he is influential: Davenport chairs two companies based in Southern Virginia: Davenport Energy, a petroleum products manufacturer founded by his father, and First Piedmont Corp., a waste-hauling, disposal and recycling company in Virginia and North Carolina. He also has served on numerous boards, including as former rector of Virginia Tech’s Board of Visitors and currently as vice chairman of the Virginia Growth and Opportunity Board.
Recent developments: In January, Davenport was elected an at-large board member with the Virginia Chamber of Commerce. Also that month, Davenport Energy awarded 60 small grants from the ExxonMobil Educational Alliance to classrooms, teachers and students in its service area, including Pittsylvania County and Danville.
William B. “Bill” Downey, CEO, Riverside Health System, Newport News
Why he is influential:Downey oversees a health system with scores of service locations in eastern Virginia, from pediatric centers to retirement communities. They’re located from Hampton, through Williamsburg, into the Northern Neck and over to the Eastern Shore. Downey seems nearly as present, serving on the boards of the Jamestown-Yorktown Foundation, the Virginia Symphony and the Hampton Roads Economic Development Authority.
Recent developments:In February, Riverside marked the conclusion of a $55 million renovation and expansion to its Riverside Walter Reed Hospital in Gloucester. The health system also was cited by The Washington Post as a positive contrast to the University of Virginia Health System, where an examination found a high number of patients in dire straits because of medical billing. The report lauded a policy by Riverside that forgives bills exceeding annual household income.
Barry DuVal, president and CEO, Virginia Chamber of Commerce, Richmond
Photo by Caroline Martin
Why he is influential: Marking his 10th year as president and CEO of the state chamber, DuVal has raised the chamber’s membership from 847 members in 2010 to more than 26,000. A former state secretary of commerce and trade, he also served as mayor of Newport News and was president and CEO of Kaufman & Canoles Consulting LLC.
Recent developments:As a voice for the state’s businesses, DuVal has been a staunch defender of Virginia’s right-to-work laws, which prohibit required union membership as a condition of employment. Economic development officials cite right-to-work as a key advantage for Virginia in attracting new and expanding business. Earlier this year, DuVal launched “Virginians for Employee Free Choice,” a coalition to support right-to-work. Despite a Democratic majority in both General Assembly houses, an effort to repeal right-to-work failed during the 2020 session, dying in the House Appropriations Committee. In 2017, the chamber began work on Blueprint Virginia 2025, a plan to regain Virginia’s No. 1 ranking on CNBC’s annual Top States for Business list after seeing the commonwealth drop several spots in recent years. Last July, Virginia was No. 1 again.
James W. Dyke Jr., senior advisor, State Government Relations, McGuireWoods Consulting LLC, Tysons
Why he is influential: Dyke’s background in law and politics is wide-ranging. He served as secretary of education under former Gov. L. Douglas Wilder and today, as a lobbyist, counts among his clients three Virginia universities — George Washington, Marymount and the foundation at George Mason.
Recent developments:A lawyer, Dyke is entering the third year of a three-year appointment to the board of visitors at Norfolk State University. Last year, he joined the board of the Virginia Early Childhood Foundation. As a board member of GO Virginia, an influential, state-funded economic development initiative promoting regional collaboration and private-sector investment, Dyke has been advocating for the program’s full funding as included in Gov. Ralph Northam’s biennial budget.
Why he is influential:Over the air, on paper or in your earbuds, Edelman answers financial-planning questions in a relatable way. Aside from his podcasts, weekly radio show and books, Edelman has been chairman of the nation’s largest Registered Investment Adviser since his company’s 2017 merger with Financial Engines. Today, Edelman Financial Engines manages more than $213 billion in assets for 1.2 million clients across 170 offices.
Recent developments:Edelman Financial recently launched a Workplace Innovation division to help companies offer financial guidance to their employees. Edelman and his wife, Jean, have focused their philanthropy on furthering research to fight Alzheimer’s disease. In December, they pledged $2 million to back a documentary on Alzheimer’s research scheduled for release next year.
Richard Fairbank, chairman and CEO, Capital One Financial Corp., Tysons
Why he is influential: Fairbank co-founded McLean-based Capital One with Nigel Morris in 1994, and it now ranks No. 11 on the list of the nation’s largest banks by assets, and it’s the second-largest auto-financing company in the U.S. He also serves as chairman of MasterCard’s U.S. board of directors and as non-executive director of MasterCard International. A billionaire thanks to stock holdings, Fairbank has received no base salary from Capital One since 1997.
Recent developments: The bank’s revenues broke a record in 2019, reaching $28.2 billion, although that number is 1% lower than anticipated. And if that weren’t enough, last year pop superstar Taylor Swift signed a multiyear deal to becomeCapital One’s latest celebrity spokesperson.
Thomas F. Farrell II, chairman, CEO and president, Dominion Energy Inc., Richmond
Why he is influential: Farrell has led the state’s largest utility since 2006, but he also has wielded considerable influence on Richmond’s landscape, mostly through public-private partnerships. Last year, Dominion opened its sleek, 20-story headquarters building in downtown Richmond. And Farrell spent much of his local political capital over the last two years spearheading his NH District Corp.’s failed $1.5 billion Navy Hill downtown redevelopment plan, which would have included a replacement for the Richmond Coliseum.
Recent developments: One of the commonwealth’s most powerful business leaders, Farrell became chairman of the GO Virginia board in September. However, he has seen the limits of his influence greatly tested in the last six months. During the fall elections, several state Democrats — now the party in power — declared they would not take donations from Dominion. And in early February, despite promises of more than 9,000 jobs and hundreds of millions of dollars in capital investment, Richmond City Council killed Farrell’s Navy Hill proposal. Nonetheless, Dominion and Farrell retain considerable influence, particularly in the state’s push toward carbon-free energy production, of which Dominion’s plans to build the nation’s largest wind farm off the Virginia Beach coast will play a central role.
Heywood Fralin, chairman, Medical Facilities of America Inc., Roanoke
Why he is influential: A former rector at the University of Virginia, Fralin holds sway across a range of disciplines, from the arts to science. His Medical Facilities of America has 42 locations in Virginia and North Carolina offering skilled nursing and rehab services. He’s chairman of the Virginia Business Higher Education Council and serves on the highly influential GO Virginia board. U.Va.’s Fralin Museum of Art is named after him and his wife, Cynthia.
Recent developments:Last year, Virginia Tech awarded Fralin its highest honor, the William H. Ruffner Medal, recognizing his service to the university, which included seven years on its board of visitors. He and his wife also made a $50 million gift to support the Fralin Biomedical Research Institute at VTC, part of the Virginia Tech Carilion Health Sciences and Technology Campus in Roanoke.
Why he is influential:Haymore took over in 2018 as lead of the new global economic development, commerce and government relations group of Hunton Andrews Kurth — a law firm that resulted from a merger that year between Hunton & Williams and Andrews Kurth Kenyon. Haymore isn’t an attorney, but he has about 1,000 of them on hand. He’s called on for his considerable insight into Virginia government and policy, having worked in the administrations of three governors. He was commissioner of the Department of Agriculture and Consumer Services under Gov. Tim Kaine, and he was secretary of agriculture and forestry under governors Bob McDonnell and Terry McAuliffe, who named him secretary of commerce and trade. Haymore also serves on the board of visitors for Virginia Commonwealth University and the boards of the Washington Airports Task Force, the Virginia Chamber of Commerce and Virginia FREE.
Recent developments:When buzz built around McAuliffe’s possible presidential ambitions, Haymore stepped out to defend his former boss’s economic record in a Roanoke Times op-ed last year. Haymore worked publicly against a repeal of the right-to-work law that was under debate during the 2020 General Assembly session. He’s also helping with InvestSWVA, a new public-private initiative to boost workforce and economic development efforts in Southwest Virginia.
Victor Hoskins, president and CEO, Fairfax County Economic Development Authority, Fairfax
Photo by Stephen Gosling
Why he is influential:Before moving to Fairfax last August, Hoskins played a key role in securing Amazon.com Inc.’s East Coast headquarters for Arlington County, where he led its economic development authority for close to five years. The $2.5 billion deal, expected to create 25,000 jobs by 2030, is said to be the nation’s largest economic development project, based on the number of jobs. It also caps a period for Hoskins that included bringing Nestlé USA’s and Lidl’s headquarters to Arlington, and retaining the headquarters for the Public Broadcasting System and the Drug Enforcement Administration.
Recent developments: As Hoskins gets his feet wet in Fairfax, he and officials in nine other jurisdictions have formed the Northern Virginia Economic Development Alliance, which will help the region compete for large conventions and, overall, promote economic development cooperation. His focus is on workforce development and place-making, a process underway in Tysons, which is turning into a more walkable, urban environment with major multiuse developments. As the former deputy mayor of planning and economic development for Washington, D.C., Hoskins was instrumental in developing places like City Center, the Wharf and Union Market that attract young professionals. He’s likely to do the same in Fairfax.
Steve Johnson, president, Johnson Commercial Development, Bristol
Why he is influential: A significant player on the Southwest Virginia casino scene, Johnson hopes to develop a $200 million casino on 350 acres in Washington County near The Pinnacle, his 1 million-square-foot shopping venue in Bristol, Tennessee. A former Virginia Tech and NFL football player, he’s donated $1 million gifts to his alma mater and the United Way of Bristol in recent years.
Recent developments: There’s been friction between Johnson and the backers of the Hard Rock Bristol Resort and Casino, which has gathered more support among elected officials. In a February interview with the Bristol Herald Courier, Johnson accused Bristol City Manager Randy Eads and developers Jim McGlothlin and Clyde Stacy of “stealing” his idea for a casino in the region, which he said he mentioned to Eads in 2017. Despite numerous likely roadblocks, Johnson still planned to pursue his proposal with the Eastern Band of Cherokee Indians.
Dr. J. Stephen Jones, president and CEO, Inova Health System, Falls Church
Photo courtesy Inova Health System
Why he is influential:Jones left his position as president at Cleveland Clinic Regional Hospitals and Health Centers to take over at Inova in April 2018. He oversees a system in Northern Virginia and D.C. that includes five hospitals with more than 17,500 employees serving more than 2 million patients each year. “All of the pieces are in place for Inova to be the premier health system on the eastern seaboard,” Jones said upon taking the post. “Key to achieving this will be to build upon the strong research and academic programs already in place that help us attract top physicians.” Inova’s board cited his leadership in medical education and research and noted his national recognition in the fields of prostate and bladder cancer. In June 2018, the University of Virginia School of Medicine named Jones a professor of urology — strengthening ties between U.Va. and Inova’s Fairfax Medical Campus.
Recent developments:The $150 million Inova Schar Cancer Institute, which includes patient-focused cancer care and genomics research, opened in May 2019 as part of the 117-acre Inova Center for Personalized Health campus.
Howard Kern, president and CEO, Sentara Healthcare, Norfolk
Why he is influential: Kern leads a system that includes 12 hospitals with more than 28,000 employees and net annual revenue of $6.3 billion. Sentara’s health care centers primarily are clustered in Hampton Roads but also stretch into Northern Virginia and North Carolina. Sentara’s health plan, Optima, serves more than 500,000 people in Virginia, North Carolina and Ohio. Kern serves on numerous boards, including the Hampton Roads Economic Development Alliance and the Virginia Business Higher Education Council.
Recent developments:In April 2019, The CEO Forum Group’s magazine named Kern one of “10 CEOs Transforming Healthcare in America.” In November, Gov. Ralph Northam appointed him to the state Advisory Council on Revenue Estimates. Kern is also an ardent advocate for addressing social determinants of health, such as the conditions in which people live, work and learn. In October, Sentara announced it would donate $50 million towards a partnership with Local Initiatives Support Corp. to address social determinants of health in underserved Virginia communities. The$93.5 million Sentara Cancer Center opens this May.
Robert C. “Bob” Kettler, CEO and owner, Kettler Inc., McLean
Why he is influential: The company that Bob Kettler founded in 1977 has developed more than 46,000 homes in 25 master-plan communities. Its work includes developing eight championship golf courses and 5 million square feet of commercial space as well as managing 20,000 apartments in the Northeast, mid-Atlantic and Southeast regions. The Washington Capitals’ training center bears his name.
Recent developments: Kettler is working with Ross Perot Jr.’s Hillwood Communities on three development projects with a build-out value of $200 million, including a 44-acre, 80-home, 200-plus town house project in Fredericksburg. As part of its expansion strategy, Kettler announced its first project in Florida in November, breaking ground on a 379-unit apartment community scheduled to open by the close of this year.
Justin G. Knight, president and CEO, Apple Hospitality REIT Inc., Richmond
Why he is influential:Knight is in his sixth year at the helm of Apple Hospitality, a REIT with a 233-hotel portfolio (mostly Marriotts and Hiltons) stretching into 34 states. An officer on the board of the American Hotel & Lodging Association, he serves on the boards of Southern Virginia University, the Valentine Museum and Venture Richmond.
Recent developments:Apple bought The Berkeley Hotel in Richmond for approximately $7 million in October, with plans to retain it as an independent hotel. As of the third quarter, Apple had spent $47 million on capital expenses and said it expected to invest $30 million to $40 million more by year’s end to improve properties including the Richmond Marriott. It’s also converting a Renaissance hotel in New York into an independent boutique hotel.
Roger A. Krone, chairman and CEO, Leidos, Reston
Why he is influential:A pilot and aerospace engineer whose career has taken him to General Dynamics, McDonnell Douglas and Boeing, Krone has served as CEO atLeidos since 2014. The defense contractor reported$11.1 billion in revenue for 2019. His board service includes the Georgia Tech Foundation and WETA public television and radio stations, and in January he began a term with the Greater Washington Urban League.
Recent developments: Last year,Leidos marked the 50th anniversary of its founding by the late J. Robert Beyster, a Navy veteran and nuclear physicist. The company has continued to thrive under Krone, who oversaw the $1.65 billion acquisition of Dynetics Inc. in December and the $1 billion acquisition of the Security Detection and Automation businesses of L3Harris Technologies in February. That same month, Leidos landed a $7.7 billion, multiyear IT contract with the Navy.
John R. Lawson II, executive chairman, W.M. Jordan Co., Newport News
Why he is influential:Lawson served as president and CEO of the construction company his late father co-founded. In a leadership transition,Lawson became executive chairman in 2018, the same year he was named by Virginia Business magazine as the Virginia Business Person of the Year. He’s entrenched in community board service and leads a company that, at any given time, has 50 projects in the works, each worth an average of $50 million.
Recent developments: W.M. Jordan is constructing a 14-story mental health care facility in Norfolk for the Children’s Hospital of the King’s Daughters, which broke ground in September. But Lawson has been involved with the cause for years. His company is host to an annual golf tournament fundraiser, and he’s kicked off a capital campaign for the $214 million hospital, set to open in 2022.
Vincent J. Mastracco Jr., partner and co-chair of the Real Estate Strategies Group, Kaufman & Canoles, Norfolk
Why he is influential:Kaufman & Canoles celebrated its 100th anniversary last year and Mastracco has been practicing there for more than half its history. A noted business attorney and Hampton Roads community leader, he’s a member of myriad boards, including the Hampton Roads Community Foundation and the Virginia Economic Development Partnership, which he chaired in 2018, the year VEDP played a pivotal role in landing Amazon HQ2.
Recent developments:Mastracco continues service on several boards, including as a trustee for Virginia Wesleyan University. In January, the governor reappointed him to the Virginia Economic Development Partnership board.
Terry McAuliffe, global strategy advisor, Centre for Information Policy Leadership, Hunton Andrews Kurth LLP, Washington, D.C.
Photo by Stephen Gosling
Why he is influential: Virginia’s 72nd governor, moderate Democrat McAuliffe built his record on economic development, bringing in more than $20 billion in capital investment, and promoting Virginia on more than 35 trade and marketing missions to five continents. A multimillionaire businessman and prolific political fundraiser, McAuliffe is a former Democratic National Committee chair and a close friend and confidant of Bill and Hillary Clinton.
Recent developments: In April 2019, McAuliffe quashed speculation he would pursue the Democratic presidential nomination, telling The New York Times, “I would have loved to have run for president,” but thought that the field was too crowded and that Joe Biden had the centrist vote. In October, McAuliffe took a job as global strategy advisor for Hunton Andrews Kurth LLP’s international privacy and cybersecurity think tank. But don’t count him out politically — he was a familiar presence campaigning for state Democrats who won control of the General Assembly last fall. And in January, McAuliffe hired away Democratic Party of Virginia Executive Director Chris Bolling to oversee his PAC — a signal, politicos say, that McAuliffe’s seriously mulling a 2021 run for governor.
Why she is influential:After a 30-year career with PricewaterhouseCoopers, McClements was tapped to head the accounting firm’s mid-Atlantic practice in 2017, leading more than 4,000 employees in Virginia, Washington, D.C., Maryland, Pennsylvania and southern New Jersey. She serves on the boards of the Wolf Trap Foundation, The Economic Club of Washington, D.C., and the American Cancer Society.
Recent developments:Washingtonian magazine named McClements to its “Most Powerful Women in Washington” list in 2019. PwC also made headlines in December, signing a 15-year lease on four floors of a huge office redevelopment project at Mount Vernon Triangle in D.C. An ambassador of the company’s digital “upskilling” initiative, McClements said it would be an “innovative workspace.” A majority of PwC’s 2,600 employees in the region will relocate there.
Mary McDuffie, president and CEO, Navy Federal Credit Union, Vienna
Photo courtesy Navy Federal Credit Union
Why she is influential: With more than 18,000 employees, McDuffie leads the largest credit union in the world. It holds $112.09 billion in assets and serves nearly 9 million members. McDuffie started with Navy Federal as vice president of marketing in 1999, and about 20 years later became COO, before taking her current role as president and CEO in January 2019.
Recent developments:The credit union overhauled its mortgage application process, launching a tool called HomeSquad that gives members the ability to apply for mortgages online. Navy Federal also published a list of career opportunities for veterans transitioning to civilian life, Best Careers After Service, in partnership with Hire Heroes USA. In a New Year’s message, McDuffie touted growth: “We grew by more than 1 million members, and we opened 20 new branches, all while upholding our steadfast commitment to top-notch service to each individual member and the membership as a whole.” With more than 330 branches around the world, McDuffie has pledged to open another 20 branches in 2020 and work to improve the customer experience — a goal that she’s called the cornerstone of her mission.
Jim McGlothlin, chairman and CEO, The United Co., Bristol
Why he is influential: McGlothlin has been in the news lately for his partnership with former high school classmate Clyde Stacy (see Page 58) in the proposed Hard Rock Bristol Resort and Casino on the former Bristol Mall property. But McGlothlin’s background is in coal. In 1970, he and his father, along with five other investors, founded Grundy-based United Coal Co., which McGlothlin sold in 1997 and then repurchased in 2004, before selling it to a Ukrainian business group in 2009. The McGlothlin Foundation, his family’s philanthropic arm, contributed more than $5.2 million last year to organizations that provide food, shelter, clothing, education and health programs in Southwest Virginia.
Recent developments: Like other promoters of casinos in Virginia, McGlothlin has been waiting for the General Assembly to pass legislation legalizing casinos at five locations in the state. His $400 million project — in partnership with Hard Rock International — appears to have favor among legislators, as opposed to a more recently announced casino proposal at The Pinnacle in Washington County, proposed by Bristol developer Steve Johnson (see Page 53) and a North Carolina Cherokee Indian chief.
Stephen Moret, president and CEO, Virginia Economic Development Partnership, Richmond
Why he is influential:If he never sealed another deal, Moret would be influential for his key role in landing Amazon’s $2.5 billion HQ2 East Coast headquarters, which, with 25,000 jobs, has been described as the largest single economic development deal in U.S. history. However, as president and CEO of the Virginia Economic Development Partnership, Moret remains a tireless promoter of Virginia as a great location for business. And initiatives such as VEDP’s new Virginia Talent Accelerator Program keep the deal announcements flowing.
Recent developments: Last July, Virginia regained its prestigious CNBC ranking as America’s top state for business, largely due to the state’s successful HQ2 pitch. In December, Virginia Business magazine named Moret its 2019 Virginia Business Person of the Year.
Christopher J. Nassetta, president and CEO, Hilton Worldwide Holdings Inc., Tysons
Why he is influential:Hilton’s leader since 2007, Nassetta graduated from the University of Virginia and serves on the McIntire School of Commerce’s advisory board. He’s also a member of CoStar Group Inc.’s board and is chairman of the World Travel & Tourism Council board. Hilton has a portfolio of 17 hotel brands and 6,110 properties worldwide. In 2018, the company announced it would cut its carbon emissions by 61% and halve its water consumption and produced waste by 2030.
Recent developments: Hilton expects to reach 1 million rooms soon, having added close to 470 hotels in 2019, its 100th year, and achieving 6.6% net unit growth. The company also started construction on nearly 87,000 rooms last year and opened more luxury properties than in any previous year.
Phebe Novakovic, chairman and CEO, General Dynamics, Falls Church
Why she is influential: A former CIA operative, Novakovic leads one of the largest aeronautical and defense companies in the world. More than 10% of its employees, about 12,000 of them, live in Virginia. The company posted revenue of $8.4 billion in 2019. Novakovic leads the Ford’s Theatre board and serves on the board of the health care and technology company Abbott Laboratories.
Recent developments: Last year, General Dynamics won a record $22.2 billion Navy contract to build nine, and possibly 10, fast-attack submarines. On the commercial side, Novakovic expects to deliver 150 of its Gulfstream jets in 2020 and will see its new model, the G700, take its first flight. Forbes ranked Novakovic as No. 24 on its list of the World’s Most Powerful Women last year — four spots below Oprah Winfrey.
Mike Petters, president and CEO, Huntington Ingalls Industries, Newport News
Why he is influential: Petters is a graduate of the U.S. Naval Academy who leads the country’s largest military shipbuilder. Based in Virginia with its Newport News shipbuilding division, Huntington Ingalls employs more than 41,000 people and posted $8.2 billion in revenue in 2018. Petters, a Navy veteran and former reservist, serves on the executive committee of the Aerospace Industries Association board of governors and the board of the National Association of Manufacturers.
Recent developments: Last year, NBC’s “Today” show featured Petters discussing his early childhood education advocacy with his wife, Nancy, a preschool teacher. In February, Petters announced that Huntington Ingalls Shipbuilding has an “unprecedented backlog” of $46.5 billion worth of work to carry out in the next decade. Huntington announced the acquisition of underwater drones manufacturer Hydroid Inc. And it will reap benefits as a subcontractor for General Dynamics’ record $22.2 billion Navy submarine-building contract.
Gary Philbin, president and CEO, Dollar Tree Stores Inc., Chesapeake
Why he is influential: After nearly 15 years with Dollar Tree, Philbin was tapped to lead the newly purchased Family Dollar Stores in 2015. The $9.1 billion acquisition was a turning point and Philbin helped guide the critical transition. In 2017, he ascended to president and CEO of Dollar Tree, which runs more than 5,000 stores in 48 states and five Canadian provinces and reported net sales of $22.82 billion in 2018.
Recent developments: Dollar Tree has been consolidating into new Chesapeake headquarters. Its stock price struggled in early 2020, as tariffs increased expenses. In a November earnings call, Philbin noted a focus on store renovations and workforce growth. The company aimed to bring on 25,000 associates with a national hiring event in October and held another in January focused on store leadership. Dollar Tree said it promoted about 28,000 associates to new positions in 2019.
John F. Reinhart, CEO and executive director, Virginia Port Authority, Norfolk
Why he is influential: The Port of Virginia, which VPA operates, is a major driver of Virginia’s economy and the third-busiest port on the East Coast, holding a 12.9% market share in 2018. A recent study by William & Mary found that the port generated an impact of $92 billion in fiscal year 2018. Reinhart, CEO since 2014, has led a massive effort to widen and deepen the port’s harbors since 2015.
Recent developments:In December, VPA started the $350 million dredging project to create the East Coast’s deepest port, scheduled for completion by 2024. The port also plans to use $15.5 million in federal funds to increase capacity at its Virginia Inland Port in Front Royal.
Buddy Rizer, executive director, economic development, Loudoun County
Why he is influential: The man nicknamed the “Godfather of Data Center Alley”has been Loudoun’s economic development director since 2007. At the time, the county was home to America Online, which set up shop there in 1997, and Loudoun has since built on its existing tech infrastructure. Ashburn is now the top data center market in the world, with about 70% of all internet traffic running through its 70-plus data centers.
Recent developments: In 2019, Google began developing two data centers in Arcola Center and Stonewall Business Park, investing $600 million in the county. This year, Rizer says his department will review the data center cluster’s branding and how to build its visibility. Aside from the tech sector, Loudoun’s agribusinesses are big contributors to the county’s economy; farms, wineries and breweries generated an economic impact of $413.6 million in 2018.
Steven C. Smith, president and CEO, Food City, Abingdon
Why he is influential: Smith leads Food City, a supermarket chain with $2.5 billion in annual revenues, with more than 16,000 employees working at 123 locations across Virginia, Tennessee, Kentucky and Georgia. It operates under the Food City and Super Dollar Supermarkets brands. Smith serves on the boards of GO Virginia, the Food Industry Association and TOPCO Associates LLC.
Recent developments: Over the last year, Food City has been the focus of news reports revealing that a Knoxville, Tennessee, Food City pharmacy purchased one million OxyContin pills in 2008 alone and acquired 8.5 million oxycodone pills within a six-year period. Tennessee’s attorney general is suing the pharmaceutical supplier, alleging RICO violations. Food City, which has not been accused of criminal wrongdoing, has said it’s “proactively working” with drug enforcement and pharmaceutical experts to refine dispensing practices at its100-plus pharmacies.
Clyde Stacy, CEO, Par Ventures LLC, Bristol
Why he is influential: Stacy is an investor in local businesses and properties around Bristol, most notably the Bristol Mall, which his Par Ventures purchased for $2.6 million in 2018. He and fellow Southwest Virginia native Jim McGlothlin (see Page 56) plan to turn the mall into the Hard Rock Bristol Resort and Casino – pending the expected legalization of casinos by the General Assembly. Before starting Par Ventures, Stacy was head of Rapoca Energy Co., a coal mining company based in Bristol.
Recent developments: Bristol Mall is currently home to CBD processing facility Dharma Pharmaceuticals, in which Par Ventures holds a financial interest. In January, Dharma became the first company licensed by the Board of Pharmacy in Virginia to process CBD oil.
Bruce L. Thompson, CEO, Gold Key | PHR, Virginia Beach
Why he is influential: Thompson started two companies, Professional Hospitality Resources and Gold Key Resorts, in the hotel, ski resort and vacation ownership sectors, beginning in 1986. But most Virginians know Thompson for his remake of Virginia Beach’s oceanfront, which started in 2011 and has led to the newly refurbished Cavalier Hotel and the $125 million Marriott Virginia Beach Oceanfront, opening in March. He’s also been active in civic service, raising more than $5 million for ALS research and securing funding for a fully accessible park at the oceanfront.
Recent developments: The opening of the Marriott property — a 305-room hotel with more than 25,000 square feet of meeting space — and the completion of the 42 Ocean condominium project mark the conclusion of phase two of Thompson’s $350 million master plan for the neighborhood. Next up: another hotel, which will complete the all-in-one resort.
Warren Thompson, founder, president and chairman, Thompson Hospitality, Reston
Why he is influential: Thompson runs the largest minority-owned food and facilities management company in the country, with 5,500 employees and revenue of $760 million. A graduate of Hampden-Sydney College and U.Va.’s Darden School of Business, Thompson founded the company in 1992 with the purchase of 31 Big Boy restaurants. Black Enterprise ranks Thompson on its list of the nation’s largest black-owned companies, noting the company’s contracts with 20 historically black colleges and universities.
Recent developments:Thompson was named to the board of directors for Indianapolis-based Duke Realty Corp. last year. Since acquiring a majority stake in the Matchbox pizza restaurant chain in 2018, Thompson has been working to expand the chain; its first franchise location recently opened in Charlottesville. Thompson also plans to open a Homewood Suites near its headquarters this year, using it to help train Thompson food-service employees.
Jim VandeHei, co-founder and CEO, Axios Media Inc., Arlington
Why he is influential: The former co-founder and CEO of Politico, VandeHei now runs Axios, which, since its 2016 founding, attracts 7 million to 10 million unique visitors a month. Axios’ email newsletters are a must for busy people who rely on its signature “smart brevity” to deliver political, business, media and technology news with a bottom-line focus on “why it matters.” In challenging times for media, Axios generated $25 million in 2018 revenue and reportedly garnered $150,000 weekly newsletter sponsorships in 2019.
Recent developments: At the close of last year, Axios was poised to raise another $20 million in venture capital, upping its valuation to $200 million. And in March, Axios begins airing the third season of its HBO documentary series.
Kathy Warden, president and CEO, Northrop Grumman Corp., Falls Church
Why she is influential: Warden has now been at the helm of the federal defense contractor for more than a year, having started as CEO and president on Jan. 1, 2019. She joined Northrup Grumman in 2008 and previously worked for General Dynamics and the Veridian Corp. She chairs the board of directors at the Federal Reserve Bank of Richmond and also serves on James Madison University’s board of visitors.
Recent developments: Northrop Grumman, like other big defense contractors, has benefited from a double-digit increase in classified program work last year at the Pentagon. Warden said in January that “restricted” work accounted for more than a quarter of the company’s $33.8 billion in 2019 sales. Outside of the office, Warden has been named to Merck’s board of directors, effective in mid-March.
Howard A. Willard III, chairman and CEO, Altria Group Inc., Richmond
Why he is influential: Willard is in his second year as chairman and CEO of Altria Group, the country’s largest tobacco company and the parent of Philip Morris USA, which he joined in 1992. Altria contributes millions of dollars to the Richmond region in arts, cultural and educational contributions. Beyond cigarettes, the company holds large investments in two closely watched categories: e-cigarettes and cannabis. Revenues in 2019 were down 1% to $25.11 billion.
Recent developments: In November, Willard attended a tense White House meeting with President Trump about vaping. A partial federal crackdown on flavored e-cigarettes took effect in February. Willard expects the category to decline, he said in January, and Altria was hammered for its $12.8 billion investment in Juul, which it now values at $4.2 billion, due to lawsuits and health concerns about teen vaping. Of Altria’s $1.8 billion investment in Cronos Group, a Canadian cannabis company, Willard said, “The U.S. cannabis market, if reasonably regulated and legalized at the federal level, presents a tremendous opportunity.”
Ardine Williams, vice president of HQ2 workforce development, Amazon.com Inc., Arlington County
Photo by Will Schermerhorn
Why she is influential:Williams is responsible for building the 25,000-person workforce that will be hired during the next decade for Amazon’s HQ2 East Coast headquarters in Arlington. She’s been a highly visible representative for the e-tail Goliath, appearing at events with Gov. Northam, offering advice to thousands of job seekers at Amazon’s outdoor career fair and delivering the November keynote address at George Mason University’s Annual Symposium of the Journal of Law, Economics & Policy. A tech industry veteran who also worked for Hewlett-Packard and Intel Corp., Williams formerly oversaw global talent acquisition for Amazon Web Services.
Recent developments:With three more years to go before Amazon’s two, 22-story HQ2 towers are built, the company had already hired more than 600 employees for HQ2 by mid-February. Many of them are housed in three floors of leased offices that the company has nicknamed “base camp,” decorated with a tongue-in-cheek mural depicting an Amazon delivery truck trekking up a Himalayan-esque peak. HQ2 hires will range from programmers and software developers to employees in consumer affairs, advertising, law, finance and public relations.
Pharrell Williams, Grammy-winning recording artist and performer, developer and founder of the Something in the Water festival, Virginia Beach
Photo by Lionel Hahn/Sipa via AP Images
Why he is influential:Williams, who is behind some of the biggest hip-hop and pop hits of the past decade — perhaps you’ve heard “Happy”? — has never forgotten his Virginia Beach roots. Last November, the music superstar turned up at a City Council meeting to speak on behalf of the proposed $325 million Atlantic Park development — slated to include a surf park, 3,500-seat entertainment venue and residential and retail space — on which he is partnering with Venture Realty Group. He also debuted the wildly successful Something in the Water music festival last April, which delivered an economic impact of $24.11 million to the region.
Recent developments: Something in the Water comes back to the beach in late April with a three-day concert featuring dozens of superstar artists, among them Post Malone, Foo Fighters, Chance the Rapper and, naturally, Williams. And Williams will narrate TV ads for Virginia Beach’s spring tourism campaign, which will feature his new song, “Virginia.” As for Atlantic Park, Virginia Beach City Council gave it the go-ahead in November, with construction set to start in a couple of years on the former Dome site.
Jaffray Woodriff, co-founder and CEO, Quantitative Investment Management, Charlottesville
Photo by Mark Rhodes
Why he is influential:A University of Virginia alumnus, Woodriff co-founded his $3 billion hedge fund, which is run in his hometown of Charlottesville, in 2003. Last January, Woodriff and his wife, Merrill, a fellow Wahoo, pledged $120 million to U.Va. through their nonprofit Quantitative Foundation to launch a new School of Data Science. It is the largest gift of its kind to the university. Woodriff also has supported more than 60 startups (including 40 around Charlottesville) as an angel investor, under his Felton Group LLC family office. Most focus on clean energy, machine learning and scalable technology.
Recent developments:Woodriff’s Center of Developing Entrepreneurs (CODE) building is under construction on the west end of Charlottesville’s Downtown Mall, and startups funded by Woodriff have already claimed five of the building’s nine floors. Completion is scheduled for next summer. Last September, the State Council of Higher Education for Virginia (SCHEV) approved the creation of U.Va.’s School of Data Science, which will offer interdisciplinary courses on artificial intelligence, machine learning and ethical responsibility.
When President Donald Trump stepped onstage at a General Dynamics Corp.-run factory last spring, an American flag and four M1 Abrams battle tanks served as his backdrop.
“God Bless the U.S.A.” by Lee Greenwood played. Employees of the Lima, Ohio, plant chanted, “USA, USA!” and Trump smiled.
“Well, you better love me,” he said. “I kept this place open.”
While it’s debatable whether Trump can personally take credit for saving the factory, annual defense spending has risen about 13% over the course of his administration, strengthening the fortunes of contractors such as Virginia-based General Dynamics, a Fortune 500 company that makes warships, combat vehicles and Gulfstream jets. (U.S. military spending still isn’t back to the levels seen during its 2009-11 boom years, however.)
The Joint Systems Manufacturing Center, also known as the Lima Army Tank Plant, is owned by the Army and run by General Dynamics Land Systems. The only factory making armored tanks in the United States, the Lima plant has faced an uncertain future in recent years. In 2015, following an urgent request from a bipartisan group of more than 170 congresspeople, President Barack Obama allocated $445 million to upgrade the M1 Abrams tank and sustain the Lima plant.
And two months before Trump’s 2019 visit, General Dynamics announced it had landed a $714 million contract with the Army to upgrade 174 tanks — on top of a 100-tank upgrade order it won in 2018.
Trump said he came to the plant to celebrate. “And the awesome M1 Abrams tank is once again thundering down the assembly line,” he said. “There’s nothing like it in the world.”
In the days surrounding Trump’s visit, General Dynamics stock hit all-time highs. Since the 2016 election, its share price has grown 9.1%, from $168.55 after Election Day to around $183 on Jan. 29, the day of its fourth-quarter and full-year financial results conference call.
Loren Thompson, chief operating officer of the Lexington Institute in Arlington, says the president wasn’t overselling — about his administration’s role in the plant’s comeback or the manufacturing standards held by General Dynamics.
“It’s one of the biggest aeronautical and defense companies in the world,” says Thompson, whose nonprofit think tank receives contributions from companies including General Dynamics, for whom he consults. “Its business jets are top of the line. Its submarines are unsurpassed. And its tank remains the global leader in terms of performance.”
The big bang
If the company’s year opened with a first-quarter pop, it closed with a giant bang. Fourth-quarter profits in 2019 were up 12% over the year before, the company reported in its Jan. 29 call with analysts.
A good chunk of that money flows into the commonwealth, where 11% of General Dynamics employees (11,995 of them) reside — about 8,860 workers in the Northern Virginia suburbs and the rest in the Norfolk area.
In December 2019, General Dynamics won the largest Navy contract ever awarded, a $22.2 billion multiyear order for nine (or potentially 10) nuclear-powered, fast-attack submarines capable of launching Tomahawk missiles.
“This contract allows for our shipbuilding team, our suppliers and our employees to plan ahead so that we can continue to deliver submarines of unmatched quality, stealth and lethality,” Kevin M. Graney, president of General Dynamics Electric Boat, said in a statement.
“This is a really good news story,” Chairwoman and CEO PhebeN. Novakovic said of the division that won the contract, during the conference call in January. She cited the award’s effect on the division’s backlog, which rose 66% to $44.2 billion, and fourth-quarter revenue in the division, which increased nearly 12% to $9.2 billion.
“Suffice it to say that we are poised to support our Navy customers,” said Novakovic, a former CIA operative who’s led General Dynamics since 2013 and ranked No. 24 on the 2019 Forbes list of the World’s Most Powerful Women List. (She’s ranked four slots behind Oprah Winfrey and 16 places ahead of Queen Elizabeth II.)
IT growth
The Navy contract also illustrates the massive impact General Dynamics has on Virginia, where Newport News Shipbuilding is the subcontractor for the project.
General Dynamics maintains its headquarters in Northern Virginia, where two of its 10 business units also are based — GD Information Technology in Falls Church and GD Mission Systems in Fair Lakes, outside of Fairfax.
The IT division drew big attention in 2018, when General Dynamics acquired Falls Church-based IT services company CSRA for $9.6 billion. CSRA had posted $5 billion in revenue the year before its acquisition.
In early 2019, former Morningstar analyst Keith Schoonmaker said in a note: “The CSRA deal roughly doubles the size of its existing IT business,” making General Dynamics “one of the largest IT contractors for the U.S. government.”
The move was a sign of the “ongoing transition” in the defense industry to bring data and analytics into its fold, says Robin Lineberger, a principal at Deloitte LLC who leads its Global and U.S. Aerospace and Defense practice.
Based in Northern Virginia, Lineberger declines to comment in detail on General Dynamics because it is a Deloitte client. But the IT acquisition was a “capacity build,” he says. “They believe there’s going to be value in the future.”
In the fourth quarter of 2019, General Dynamics landed IT business including an $800 million contract to serve state health insurance, $355 million worth of intelligence services to classified customers and a $150 million contract with the Homeland Security data center.
The company’s backlog in that sector has grown. “We are encouraged, but there is work to be done,” Novakovic said in January, reporting 2019 revenue of $8.4 billion, with $628 million in operating earnings.
Revenue (Gulf)stream
General Dynamics’ other Virginia-based division, Mission Systems, employed 13,799 workers in 2018, a company spokesman said, and reported 2019 gross revenue of $4.9 billion and operating revenue of $683 million.
Overall, General Dynamics has grown its revenue — from $36.2 billion in 2018 to$39.4 billion in 2019. Novakovic said the company expects to bring in $40.7 billion in 2020, with an 11.9% operating margin.
About 25% of the company’s revenue in 2019 came from its commercial area of business, Gulfstream jets. That sector is experiencing a transition and faces a different pool of competitors than it sees from its defense business.
“What makes General Dynamics different from most big military contractors is that it has a robust commercial profit line,” the Lexington Institute’s Thompson says. “I think it’s a strength that they are diversified, because when military demand is down, commercial demand is often up, and vice versa.”
In October 2019, General Dynamics introduced the Gulfstream G700, which will be the largest business jet of its kind, a company spokesman said. Its first flight is scheduled for 2020.
Deliveries of the Gulfstream G600 started in the third quarter. Novakovic said she expects about 150 aircraft deliveries this year, as the G650 ramps down and the 600 and 500 models ramp up.
The company reported aerospace revenue at $9.8 billion and operating earnings at $1.5 billion in 2019.
But its Gulfstream business aside, General Dynamics is most closely tied to defense, and the whims of politics and new administrations can present challenges. “There’s always the danger that the customer could do something unexpected,” Thompson says.
Take the Optionally Manned Fighting Vehicle. General Dynamics ended up the sole bidder by an October deadline in a competition to build the prototype to replace the Army’s Bradley Infantry Fighting Vehicle, Defense News reported. Citing issues with competitive bidding, however, the Army said it was going to re-evaluate the program, leaving General Dynamics with nothing to show for the work.
But, Thompson says, “there are few companies that are as effective at working the Washington political process as General Dynamics is.”
In their 2020 outlook released in December 2019, analysts at Goldman Sachs & Co. listed General Dynamics as a “top pick” in the industry.
Although 2020 is an election year, Noah Poponak and his team at Goldman Sachs wrote, “the weighted average of those potential election outcomes is favorable for the sector.” They noted that geopolitics was a fundamental driver over U.S. politics and predicted continued growth in the defense budget.
Looking at the overall environment is promising, says Lineberger, who recently published Deloitte’s 2020 outlook on the aerospace and defense industry.
“Any major defense organization should be pleased with the defense budgets,” he says. “Under the current administration it appears sustainable at those levels, and perhaps some low single-digit growth.”
When a new brewery set its sights on the Williamsburg area, it knew William & Mary students would be a key customer base.
To reach them, the business owners decided to tap into a source of unique marketing advice — Agency 1693, an advertising firm run by William & Mary students.
“We offer premium content,” says agency President Erika Marr, a senior business student, “but at a much different price from what a company advertising agency would.”
Clients pay for Agency 1693’s services, and students earn paychecks. This is no unpaid internship, and there’s no college credit. Instead, Agency 1693 is a for-profit, university-sanctioned independent venture formed about three years ago. Students run the show, says its adviser, Jeffrey Rich, William & Mary’s chief marketing officer.
They’ve worked on projects for nonprofits, private companies and on-campus clients, with services such as creating videos, designing logos and devising marketing strategies. The agency won an award for a suicide prevention public-service campaign that ran in Pennsylvania.
In marketing classes, Marr learns conceptual ideas, strategies to target audiences and how to understand the wants and needs of consumers. “But getting real-world experience is really hard on campus,” she says. “This is a perfect way to not jump right into an internship but get your hands on projects — even if you have a busy semester.”
With those projects come responsibility, pressure, client feedback and real-world creative jobs with real consequences.
All of that equates to a unique, hands-on learning environment. The concept, referred to as experiential education, stretches back decades. But business schools across Virginia are embracing it in new ways.
That’s because they realize it’s powerful learning, says Janet Eyler, professor emerita in the practice of education at Vanderbilt University, who studied and has written about experiential education.
“The challenge of education is what we call transfer of learning,” Eyler says. You learn concepts in a classroom, but “people often don’t recognize when they are useful in the community or … business, or know when to apply them.”
Students begin to connect the dots when they’re able to perform real work that makes a difference for real people, she says: “That edge of experiential education is when you learn in context, you understand the subject matter in a more complex and deep way that makes it more useful.”
Not Monopoly money
Context is about to come to life in a serious way for students at the Pamplin College of Business at Virginia Tech, which has launched a program called Credit Corps in partnership with Richmond-based Atlantic Union Bank.
The program allows students to work as commercial loan officers after receiving certification from the Risk Management Association.
The Virginia Tech Foundation has committed $500,000 a year to Credit Corps for the next four years, an investment it hopes will pay off both as an educational experience and in the form of returns on those loans.
“The students will be making those decisions, whether or not to make the loans,” says George Morgan, who holds an endowed finance professorship at Virginia Tech.
Morgan, who helped develop the program, saw things kick off for students in the fall semester with their first deal team. Those students have researched their first loan candidate, visited the company and hope to close on the deal by the beginning of the spring semester.
Morgan has seen the difference such experiences can make as a longtime faculty adviser for BASIS, a student-managed investment group. It offers Tech students across the university the opportunity to have a say in how $5 million of the foundation’s endowment is invested in the bond markets.
“When real money is involved,” Morgan says, “it’s taken quite a bit differently by the students. So they take it much more seriously, they take it as much more responsibility, that they have to make the right decisions.”
Because of the risks and regulatory compliance issues, some banks were reluctant to partner with Credit Corps. Getting involved also requires bank employees to serve as liaisons to the student group and iron out logistics.
“It’s not for every bank,” Morgan says. But as a large regional bank, Atlantic Union was a great fit. It’s offering its time and expertise and provides educational workshops for students.
“We’re trying to build very much in that direction of experiential learning,” he says of Virginia Tech’s efforts. “To us, it means getting real job experience in the curriculum here, within the university.”
The goal is to give world-class job experience to students before they graduate. “In many ways,” he says, “what comes out of our undergraduate programs are people who look a lot more like graduate students.”
Client service
Graduate schools of business often deal with students who already are working in their career fields. Even so, the schools are trying novel approaches that go beyond group projects and classroom lectures.
On a late afternoon in early December, nine graduate students wrapped up an important day at Virginia Commonwealth University’s business school.
They spent the fall semester studying international business opportunities for SingleStone, a Glen Allen-based technology consulting company serving clients from the insurance and financial industries.
“I think SingleStone was very pleased with what we did,” says Van R. Wood, the students’ marketing professor.
Wood serves as director of the VCU School of Business’ Center for International Business Advancement and holds the Philip Morris Endowed Chair in International Business. He’s shepherded 25 of these projects for a state program called VITAL — the Virginia International Trade Alliance.
Then-Gov. Terry McAuliffe started the initiative in 2016, Wood says, to train the next generation of savvy, international marketers while helping Virginia companies export more products. To help make that happen, VCU partners with the international trade division of the Virginia Economic Development Partnership.
Wood starts his semester looking for companies that have an interesting product or service and are doing well domestically but haven’t considered international sales. If the company fits with VEDP’s plan, he secures its involvement.
His students, once trained, meet with clients, learn about their products and services, and then go to work analyzing international markets.
“We typically start with every country in the world,” he says, finally narrowing the target group to the top three or five. Students show the company how they might be successful in those markets — as a free service. Students prepare international market analysis, marketing plans and strategic alliances.
“Initially, they’re a little intimidated,” Wood says, but their recommendations have real-world influence. “And that’s what experiential learning is all about.”
Making small talk
Not everything in the business world is learned in a classroom — or comes as naturally as students might imagine.
Something as simple as knowing how to dine in a business setting, for example, is an avenue for learning in a program offered by the Robins School of Business at the University of Richmond.
The program, called Q-Camp, is a two-day series of workshops and interactive seminars designed to give students experience in networking, business skills, professional brand building — and the proper way to eat soup.
University of Richmond senior Alex Kohnert recalls her experience as a sophomore at Q-Camp, which included a three-hour etiquette dinner. Students learned about manners and the art of small talk — something not everyone develops growing up.
One of the biggest takeaways, Kohnert says, may seem almost silly — composing a professional email. “It sounds so simple,” she says, especially for a generation accustomed to texting and using technology. But the basics of communication in a business setting can look a lot different than a quick text to a friend.
The workshop also helped her gain insights into her personality style and those of others, she says — and how to best communicate with them.
“I just think you get such a different perspective on what’s going to come next,” Kohnert says, creating a better understanding of the interpersonal dynamics of group projects, or what the real world may bring.
The experience also helped her make the most of a summer internship in New York at UBS Wealth Management, which required her to network and adapt to unfamiliar situations.
A crucial element of experiential education, what brings the subject matter to life, is going back and forth between conceptual learning and hands-on work and community service, Eyler says.
“It’s the reflective process that links the two,” she says. “Doing real work is important. But the critical thing, if you’re talking about learning stuff, is explicitly linking the things you’re learning in the field.”
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