This was supposed to be a big year for soccer in Loudoun County, but like other businesses, Loudoun United FC has needed to adjust its expectations.
In late May, the minor league team’s parent company asked the county’s board for deferrals on rent payments for its $25.6 million Segra Field stadium and training center, which opened last August at Phillip A. Bolen Park in Leesburg.
The reserve team for Major League Soccer’s D.C. United, Loudoun United was expecting to grow its fanbase this year after finishing 2019 with a record of 11 wins, 17 losses and six ties. But its 2020 season start was delayed from March to July due to the coronavirus.
“There [was] a high probability that there [would] be insufficient gate fees available to pay rent,” Loudoun United wrote in its request to the county, seeking to defer its 2020 rent payments. Supervisors voted 6-2 to allow the team’s parent, D.C. Sports Facilities Entertainment LLC, to defer its May and November payments of $621,000 on its $15 million lease.
“This is akin to having a landlord who has locked out the tenant but still expects the tenant to pay,” says Dulles Supervisor Matthew F. Letourneau, who voted in favor of the deferrals. “This is a county facility. Whether the team pays us back or [not], we are responsible for that debt.”
D.C. Sports will repay the missed rent payments over the next six years. Loudoun County committed $7 million to the stadium, contributing another $10 million in December due to rising construction costs.
The extra expense and delay in payment were not without critics.
“What makes these taxpayer subsidies especially problematic is that the stadium consortium has ready access to billionaire backers, while our middle class and working class residents and our small businesses do not,” says Leesburg Supervisor Kristen Umstattd, who voted against subsidizing the stadium, as well as the rent deferral. “And yet, it is our residents and small businesses that are paying for these subsidies.”
The pandemic also has been tough for other professional sports teams in the commonwealth, including the Fredericksburg Nationals Single-A baseball team, which was planning to inaugurate the $35 million park in April.
But Loudoun United remains optimistic as its July 11 reopening approaches.
Says spokesman Zach Abaie: “We’re looking forward to getting back to Segra Field to deliver top-level soccer … and many other community events, once conditions allow.”
As health care systems raced to locate new sources of personal protective equipment during the first months of the COVID-19 pandemic, Virginia’s engineering schools stepped up with innovative plans for manufacturing in-demand PPE.
In Roanoke, where the number of COVID-19 cases has remained much lower than Northern, Eastern and Central Virginia, Carilion Clinic health care system asked Virginia Tech in mid-April to help create a stockpile of PPE in the event cases began to surge.
Tech faculty, students and staff designed, produced and tested PPE and ventilation equipment, led by Chris Williams, director of Tech’s College of
Engineering’s Design, Research and Education for Additive Manufacturing System (DREAMS) Lab.
The school is producing face masks, face shields and breathing devices — but each had to undergo extensive product design and testing before being used by frontline workers. As of mid-June, Tech had produced approximately 5,000 face shields for local hospitals and health centers.
“We’re all just trying to do our best to help how we can, and every little contribution helps toward a greater end product,” says Genevieve Gural, a Tech mechanical engineering master’s student.
In Northern Virginia, the region with the greatest numbers of COVID-19 cases, George Mason University engineering students volunteered to produce PPE for Inova Health System through an effort led by Karen Livingston, associate director of entrepreneurship programs for Mason’s Office of Entrepreneurship and Innovation.
Mason engineering students who are also employees of the entrepreneurship office used 3D printers to make face shields and masks, which they engineered to be more comfortable for medical workers. They also created an attachable strap for masks that goes around the back of the head, instead of looping around the ears.
“Medical staff have been wearing these masks for long periods of time, and they hook behind the ears,” Livingston says. “It’s a really bad irritant.” As of mid-June, Mason engineers and entrepreneurship students had produced 12,000 such straps. (Some of her staff now include non-engineering students)
At the University of Virginia, engineers began 3D printing nasopharyngeal swabs, used for testing, in response to suggestions from health care workers.
William Guilford, assistant dean for undergraduate education and associate professor of biomedical engineering, started 3D printing the swabs after discussions with Dr. Taison Bell, a U.Va. assistant professor of medicine in Infectious Diseases and International Health and Pulmonary and Critical Care Medicine.
Although engineering faculty and staff are hard at work leading projects, students have been the backbone of design and production, says Alexander Leonessa, a Tech mechanical engineering professor who is leading a project that could produce up to 6,000 face shields for Blacksburg-area frontline workers.
“This has been a real-life experience of things we teach them in class,” he says. “It’s helped them grow as engineers, as team players and just people in general.”
George Mason University engineering student Denys Kuratchenko produced 3D-printed face shield frames from his apartment for Inova Health System. Photo courtesy George Mason University
3D homework
In order to promote social distancing, some students have made 3D printing projects into homework.
Liam Chapin, a Tech computer science student working on the face shields project, uses 3D printers in his own apartment to produce PPE. With his at-home printers, he can produce three face shields at once, but the process takes hours. The files he’s created, though, are posted to Tech’s public database and can be printed by anyone with 3D printer access.
However, “if something works somewhere else, it doesn’t mean it will work everywhere,” Chapin says. “We started out with designs that have been approved [and used] in other medical facilities … but were not suitable here because [hospitals] have different needs.”
Similarly, Mason has deployed a series of “3D printing farms” to produce PPE, three of which are located at the student employees’ homes.
“[When] we heard that we were going to have extended spring break and were uncertain of where we were going, we started creating 3D printing farms, taking our equipment elsewhere so we wouldn’t be putting any of our students at risk,” Livingston says.
Mason mechanical engineering student Dhawal Bhanderi manufactured reusable face shields from his family’s home in Virginia Beach while he finished his classes remotely.
“I can produce 20 quality shields a week,” Bhanderi said. “And while it may not sound like a great deal, the medical staff appreciate having this kind of personal protective equipment.”
Despite the spring semester wrapping up in May, the Mason engineering student employees will continue to print throughout the summer, Livingston says.
Supply chain challenges
As with most things COVID-19- related, working the supply chain to maintain supplies has been a challenge.
For the Mason face shield project, Livingston’s team changed the type of plastic it was using after supplies ran low.
“Sourcing materials has been interesting,” Livingston says.
Virginia Commonwealth University engineering professor Charles Cartin, who is working on a project to develop emergency ventilators with VCU Health, agrees that supply chain issues have “caused a lot more headache[s] than expected.” Some sources for PPE materials take only a couple days to ship supplies, while others can take weeks, he says.
Although Virginia universities are trying to keep up with demands for PPE, health professionals and the public have sometimes had to reuse medical grade masks or make their own from nonmedical fabrics. Health systems are also employing industrial decontamination and sterilization systems to reuse existing PPE.
Tech civil and environmental engineering professor Linsey Marr, who studies the airborne transmission of infectious disease, began testing the effectiveness of reusing N95 respirators and fabric masks in March.
Marr found that sterilized N95 respirators are effective for up to 10 uses after being sterilized, but homemade mask materials don’t fare as well. Microfiber cloth filters 80% of particles, while cotton and towel materials filter only 10% of particles.
Re-innovation
Old Dominion University engineering students (L to R) Juan Cortez, Chris Betton and Dante Lege have been producing 3D-printed medical equipment for Sentara Healthcare.
In addition to making PPE from scratch, engineering schools are working with health systems to adapt existing medical equipment into in-demand ventilators needed to treat the most ill COVID-19 patients.
At Virginia Tech’s DREAMS Lab, Williams is in the early phases of working with Carilion’s chief pulmonologist to adapt cardiopulmonary bypass machines into basic respirators.
And in early March, Dr. Benjamin Nicholson, an EMS Fellow with VCU Health’s emergency department, approached Cartin, who is also the director of makerspaces for VCU Engineering, to develop a portable ventilator. Cartin and lab technician Adam Hamel developed a smaller ventilator that could be used in emergency settings using existing medical device attachments.
Charles Cartin, VCU Engineering’s director of makerspaces. Photo courtesy of VCU College of Engineering
Cartin and Hamel are designing and developing the physical parts, such as paddles and levers, necessary to automate a manual respirator bag. The ventilators they’re designing are much smaller and more portable than standard ventilators, but the intent is to make them just as accurate and precise for emergency situations. As of early May, they had produced more than 15 prototypes of the portable ventilator, while seeking input from VCU Health.
“It was a little bit of back-and-forth learning,” Hamel says. “In the engineering department, we’re not doctors. Having input was very useful.”
Although the team is uncertain of an exact timeline due to U.S. Food & Drug Administration approvals, mass production is on the horizon.
“That’s part of Phase Two, where we’re going to look at other manufacturing processes to produce a large quantity,” Hamel says. “We’re not 100% sure [of the amount], but we’re planning to do mass production if everything goes accordingly.”
In Norfolk, Old Dominion University’s engineering school started producing 3D-printed medical equipment after being approached by Sentara Healthcare, which operates seven hospitals in Hampton Roads.
Dr. Jordan Asher, Sentara’s senior vice president and chief physician executive, asked Ben Stuart, interim dean of the ODU Batten College of Engineering and Technology, to collaborate with Sentara’s respiratory therapy program to design an adapter that would repurpose CPAP masks — typically used to treat sleep apnea — into viable PPE masks for health care workers.
Stuart enlisted Sebastian Bawab, professor and chair of ODU’s Department of Mechanical and Aerospace Engineering, and Tony Dean, associate professor and assistant dean for research, to lead the project. Justin Seemueller, a respiratory clinical specialist with Sentara, assisted the team.
At ODU’s Advanced Manufacturing Lab, which is equipped with industrial 3D printers, Bawab, Dean and a team of engineering students prototyped and produced adapters for the masks, delivering about 500 to Sentara hospitals by mid-May.
“We are still in production to have them on hand in case there is a second wave using the supplies obtained for this effort,” ODU spokesperson Sherry DiBari says.
Despite the vast effort it’s taken for engineering schools to mass produce PPE and prototype new ideas, it’s been well worth it.
“We’re filling a gap in the market,” Livingston says. “The pictures and texts that we get from the medical professionals on the front line … just remind us all of why we do it. They have all been so appreciative. Their days are so difficult now.”
Gov. Ralph Northam on Tuesday recommended that more than $4.2 million in Appalachian Regional Commission (ARC) grants be distributed among 17 economic development projects in Southwest Virginia.
ARC grants can be used toward infrastructure, entrepreneurship development and workforce development. Northam’s recommended allocations must be approved by the federal commission before being awarded later this year.
“ARC grants are an important funding tool for many communities in the Appalachian region of our commonwealth,” Northam said in a statement. “Investing in infrastructure, our workforce, and economic and community development are essential components of our COVID-19 recovery, especially in rural Virginia. This funding will help us build on the region’s strengths, address its challenges, and drive growth and opportunity throughout Appalachia.”
The ARC program was established in 1965 to assist the Appalachian region with economic development. The Department of Housing and Community Development (DHCD) works with localities and stakeholders in the region to develop projects, which are then evaluated by DHCD and the governor. The recommendations then go to the federal commission for approval.
The following projects are recommended for funding to the Appalachian Regional Commission:
Hunt’s Fork Waterline Extension Project, $500,000, Buchanan County. The project will add thousands of feet of waterline to Buchanan County Public Service Authority’s existing water system.
Downtown Christiansburg Community Gathering Space, $275,000, Christiansburg. The project would create a farmers market and multipurpose space in downtown Christiansburg.
Red Onion Industrial Park Project, $50,000, Dickenson County. The project includes the development of a 30-acre industrial park in Dickenson County with onsite access roads and fiber broadband extensions. It would create 300 jobs.
The Harvest Foundation Workforce Foundations: Advancing Early Childhood Education in the City of Martinsville and Henry County,$216,880, Martinsville and Henry County. This project would expand early childhood education businesses. It would create 15 jobs and six childcare businesses in the community.
Town of Lebanon Russell Theater Restoration Project, $50,000, Russell County. This project would restore the historic Russell Theater into an anchor performance space.
St. Charles Water Line Replacement, $500,000, Lee County. This project would allow the Lee County Public Service Authority to continue replacing waterlines in the town of St. Charles.
The Fields Waterline Replacement Phase II, $218,027, Lee County. This project would continue the replacement of waterlines in Lee County.
LENOWISCO Planning District Commission Amelioration Strategic Development Plan, $48,000, Wise County. This project would develop an “ecosystem” of recovery for individuals suffering from opioid use disorder.
New College Foundation Center for Trades Entrepreneurship Planning Study, $50,000, Martinsville. This project would produce a report detailing training curriculum for entrepreneurship in the skilled trades.
Norton Industrial Development Authority Projection Intersection Site 4 Utilities, $400,000, Norton. This project would extend water, sewer, gas and broadband to Norton’s new regional business park, Project Intersection.
Patrick County Broadband Engineering Study and Design, $35,000, Patrick County. This project would develop a plan for Patrick County to identify short-term and long-term investments in broadband extension and economic growth.
Pennington Gap Business Center for the Trades, $50,000, Pennington Gap. This project would provide a cost-efficient workspace for entrepreneurs.
People Incorporated Financial Services Business Technical Assistance, $63,233, Buchanan, Dickenson and Russell Counties. This project would provide entrepreneurial and financial training to low-income individuals.
Virginia Community Capital Entrepreneurial Ecosystem, $197,592, Southwest Virginia. This project would support local business competitions and workshops in Southwest Virginia.
Glamorgan Sewer Project, $500,000, Wise County. This project would install a wastewater collection system in Glamorgan.
Millwald Theatre Restoration and Economic Revitalization Project, $500,000, Wytheville. This project would restore the historic Millwald Theatre and promote it as a multipurpose space.
YMCA at Virginia Tech – Y Cares Childcare Center, $499,985.50, Blacksburg. This project would create 20 to 25 full-time jobs in the region and provide training and mentorship opportunities.
“From child care and entrepreneurship to infrastructure and outdoor recreation, ARC funding gives communities the flexibility to invest in a wide variety of projects,” Secretary of Commerce and Trade Brian Ball said in a statement. “These 17 proposed projects will provide job creation opportunities for Appalachian communities and help further the work to diversify the economy of the region.”
Petersburg-based The Cameron Foundation announced Tuesday it has awarded $1.13 million in grants to 24 nonprofit organizations in Central Virginia during its first round of funding for 2020.
The two largest economic development grants went to Virginia’s Gateway Region and Virginia Local Initiatives Support Corp. (LISC). Virginia’s Gateway Region was awarded $136,063 for general operating support and Virginia LISC was awarded $95,000 to expand Petersburg economic opportunity.
The largest grant of $164,757 was made to Central Virginia Health Services, a community health center that provides services to low-income and uninsured patrons. The health center is located approximately 11 miles from the Southside Regional Medical Center, from where some individuals are referred.
Central Virginia Health Services offers primary medical, dental, behavioral health, health education, care coordination and pharmacy services. The Cameron Foundation funding will support dental services.
“Our work with Central Virginia Health Services addresses many core needs for residents in our community,” Pam Martin Comstock, board chair for The Cameron Foundation, said in a statement. “And, by providing services on a sliding fee scale, the organization reduces barriers that keep people from obtaining this care.”
The Petersburg Health Department was also awarded $112,500 for its HealthSpace Teen Clinic, which offers reproductive health services for teens including prevention of early pregnancies, sexually transmitted diseases and poor reproductive health.
“As a health legacy foundation, we are mindful of the importance of supporting these services, especially with our nonprofit partners who focus their work on reducing health disparities,” Jeffrey W. Geisz, The Cameron Foundation grants committee chair, said in a statement.
The full list of June grant recipients includes:
Alamo Recovery Center Inc. – $22,500
Art on Wheels – $12,600
Better Housing Coalition – $50,000
Central Virginia Health Services Inc. – $164,757
Chesterfield CASA Inc. – $16,200
Chesterfield-Colonial Heights Alliance for Social Ministry – $20,250
Colonial Heights Volunteer Fire and Emergency Medical Services – $17,216
Communities In Schools of Petersburg – $70,250
Feed More Inc. – $49,690
FLITE Foundation – $31,590
Greater Richmond Fit4Kids Inc. – $40,500
Hopewell Food Pantry – $31,500
Jessica Ann Moore Foundation – $11,680
Lamb Center for Arts and Healing – $45,000
NAMI Central Virginia – $26,615
Petersburg Health Department – $112,500
Petersburg Symphony Orchestra – $20,000
Prince George County Fire & Emergency Medical Services – $30,566
River Street Education Inc. – $7,310
Smart Beginnings Southeast – $39,950
Virginia LISC – $95,000
Virginia’s Gateway Region Inc. – $136,063
Waverly Rescue Squad Inc. – $21,470
YMCA of Greater Richmond – $40,500
“This grant cycle includes a number of examples that reflect how the foundation is balancing its investments between direct health services and interventions in some of the social determinants of health,” The Cameron Foundation President J. Todd Graham said in a statement. “This time, Cameron’s allocation of resources to Virginia’s Gateway Region and LISC Virginia to support economic development work is essential due to the strong correlation between economic vitality and a region’s health.”
Founded in 2003, The Cameron Foundation operates two grant cycles per year. The second 2020 round will be decided in October. Since 2004, The Cameron Foundation has awarded more than $94 million to local organizations.
Amid the COVID-19 public health crisis, Gov. Ralph Northam on Tuesday approved an estimated $30 million in emergency support for primary care doctors, pediatricians and other health care providers who offer general health care services to Virginia Medicaid members, Virginia Department of Medical Assistance Services (DMAS) announced Tuesday.
“By taking action to support these frontline providers, we can ensure access to care for our Medicaid members and preserve the health care network that is so critical for the well-being of families, children, low-income older adults, persons with disabilities and individuals who have lost their jobs,” DMAS Director Karen Kimsey said in a statement.
The goal of the initiative is to provide relief to health care providers who have struggled financially during the pandemic due to delays in routine medical care. According to DMAS, more than 450 health care providers who serve Medicaid members have closed during the pandemic. During the pandemic, “evaluation and management” office visits were down 35% to 40%, according to findings from Virginia Medicaid.
The plan redirects 2020 state budget funds allowing for a 29% rate increase for patient office visits related to evaluation and management of chronic conditions and other health needs. The rate increase is retroactive to March 1 and extends through June 30.
“As our commonwealth reopens, these primary care physicians and other health care providers play an essential role in making sure that testing and treatment are available as we continue our work to reduce the spread of COVID-19,” Dr. Daniel Carey, secretary of health and human resources, said in a statement.
The six health insurance companies that serve Virginia Medicaid recipients through Medallion 4, the state’s largest Medicaid managed care program, will pay out the emergency funding through existing 2020 contract funds. Their contracts were negotiated before the COVID-19 crisis began.
“This assistance for our providers is a wise investment that allows much-needed public dollars to stay in Virginia and support our critical health care needs rather than returning those funds to the federal government,” Dr. Vanessa Walker Harris, deputy secretary of health and human resources, said in a statement.
The Virginia Employment Commission is temporarily closing its Richmond headquarters office after the fourth VEC employee in three months has tested positive for COVID-19, the VEC announced Tuesday. The closure affects 350 employees who work out of the Richmond office.
VEC call centers and district offices have not been affected and will continue to process unemploymentinsurance claims, hold administrative hearings and respond to customers. However, approximately 1,000 people who receive a paper check as a method of unemployment payment may see a slight delay, according to the VEC. (About one-quarter of 1% of claimants receive paper checks.)
As of June 25, more than 375,000 Virginians remained unemployed. People receiving unemployment benefits through the VEC must file weekly unemployment claims in order to continue receiving benefits.
Employees assigned to the East Broad Street location will be required to work from home, although most had been teleworking already, according to the VEC. Employees at the headquarters location primarily work on internal agency functions such as procurement, information technology, finance and accounting.
“Our employees have been working long hours for countless days as a result of the hardships created by the COVID-19 pandemic,” VEC Commissioner Ellen Marie Hess said in a statement. “Most importantly, I want the people we serve to know that we understand how important it is to get their benefits as quickly as possible, and we remain dedicated to helping our fellow Virginians in this time of need.”
The East Broad Street office will undergo a thorough cleaning Tuesday night and the VEC will continue to encourage teleworking. After each COVID-19 case at a VEC office, each office was shut down and cleaned.
The VEC has received more claims during the pandemic than during the past five years combined — and has issued more than $5 billion in unemployment benefits since March.
Researchers at Virginia Commonwealth University and the University of California, Los Angeles (UCLA), released research findings Tuesday that could lead to more energy efficient memory storage for computers and other electronic devices.
Magnets are used for computer memory due to their “up” or “down” polarity. The magnetic state can be flipped to write or encode data and store information. This magnetic memory requires a lot of energy, however. But the skyrmion state that VCU and UCLA have discovered does not have “up-down” polarity, but rather is flower-shaped. Researchers say this allows for stronger and more energy-efficient storage for computers and smart devices.
“Our finding demonstrates the possibility of controlling skyrmion states using electric fields, which could ultimately lead to more compact, energy efficient nanomagnetic devices,” Dhritiman Bhattacharya, the VCU Engineering doctoral candidate working on the research, said in a statement.
The finding outlined in the paper, “Creation and annihilation of non-volatile fixed magnetic skyrmions using voltage control of magnetic anisotropy,” is “a stepping stone toward ultimately developing commercially viable magnetic memory based on this paradigm,” VCU engineering professor Jayasimha Atulasimha said in a statement. The paper authored by Bhattacharya, along with UCLA researchers Seyed Armin Razavi, Hao Wu, Bingqian Dai and Kang L. Wang was published in the journal Nature Electronics on Monday.
VCU researchers have been studying this concept for several years, and have shown that the skyrmion state could reduce errors in writing information to memory and make devices stronger against material defects and thermal noise. The VCU researchers hold a patent on this idea.
The joint VCU/UCLA research is funded by the National Science Foundation, the U.S. Department of Defense, the U.S. Department of Energy, VCU, UCLA and VCU’s C. Kenneth and Dianne Harris Wright Virginia Microelectronics Center.
Two Virginia lawyers have pleaded guilty to an extortion plot targeting a multinational chemicals company with demands for $200 million in “consulting fees,” according to a U.S. Department of Justice news release.
Lawyers Timothy Litzenburg of Charlottesville, and Daniel Kincheloe of Glen Allen, both pleaded guilty June 19 in Charlottesville federal court. They face up to two years in jail and possible discipline by the Virginia State Bar. The two lawyers had formed their own practice, Golden Ratio LLC in October 2019, according to State Corporation Commission documents. Litzenburg had been working with consumer litigation around the Roundup weedkiller for years before the case in question occurred. He was part of the team of lawyers that won a $289 million verdict against Roundup manufacturer Monsanto in 2018.
The extortion attempt occurred while the two lawyers were preparing for the Roundup-related litigation, according to court documents. Litzenburg and Kincheloe had signed up hundreds of clients with possible Roundup cancer claims and threatened to inflict financial and physical harm on an unnamed company that supplied chemicals for Roundup if the company didn’t pay a $200 million in consulting fees. The two lawyers planned to split the fees among themselves and two associates, according to the statement of facts.
The case filed in the Western District of Virginia federal court is tied to last week’s $10 billion settlement by Bayer of tens of thousands of claims that the herbicide Roundup caused cancer. In 2018, Bayer completed the $63 billion acquisition of agrochemical company The Monsanto Co., which was the original producer of weedkiller Roundup. Roundup has faced claims that it causes cancer
“First and foremost, the Roundup settlement is the right action at the right time for Bayer to bring a long period of uncertainty to an end,” Bayer CEO Werner Baumann said in a statement. “It resolves most current claims and puts in place a clear mechanism to manage risks of potential future litigation. It is financially reasonable when viewed against the significant financial risks of continued, multiyear litigation and the related impacts to our reputation and to our business.”
In the June 19 filing, Litzenburg and Kincheloe admitted to offering to protect the unnamed company from mass tort litigation in exchange for a $200 million consulting fee.
“This is a case where two attorneys blew well past the line of aggressive advocacy and crossed deep into the territory of illegal extortion, in a brazen attempt to enrich themselves by extracting millions of dollars from a multinational company,” Brian A. Benczkowski, assistant attorney general of the Justice Department’s Criminal Division, said in a statement. “Today’s pleas underscore that when crimes are committed, members of the bar — like all members of the public — will be held accountable for their actions.”
In October 2019, the two lawyers drafted an email to the unnamed company, making threats to injure the property and reputation of the company unless the two were paid the $200 million fee demanded. According to the statement of facts, lawyers for the unnamed company did not cooperate with the requests and recorded threats made by Kincheloe and Litzenburg.
“Right now, we’re your only problem or potential problem,” Litzenburg said in one threat, according to the statement of facts.
The lawyers are scheduled to be sentenced on Sept. 18 by U.S. District Judge Norman K. Moon. The conviction could carry a maximum two-year sentence.
“The consequences of extortion are far-reaching, affecting not only individuals, but also the economy in the United States and the world’s financial markets,” Delany De Leon-Colon, inspector in charge of the U.S. Postal Inspection Service, said in a statement. “Those who engage in this type of abuse of power while in positions of authority should know they cannot escape detection. They will be found and they will be held accountable for their actions.”
The Hershey Co. will invest $135 million to expand its manufacturing operation in Augusta County, Gov. Ralph Northam announced Tuesday. The 90,000-square-foot expansion of the Stuarts Draft facility will create 110 jobs.
Hershey Chocolate of Virginia Inc. has operated in Augusta County for more than 30 years, employing more than 1,000 workers. The Augusta County facility is Hershey’s second-largest U.S. plant. In May 2019, Hershey announced a $104 million expansion of the Virginia facility, which created 65 jobs.
“The Shenandoah Valley has been an excellent place for Hershey to do business and be a part of the community for 38 years now,” Jason Reiman, The Hershey Co. senior vice president and chief supply chain officer, said in a statement. “We are proud to continue to invest and grow in an area that gives our employees a great place to live and work. Increasingly, Augusta County and Virginia are critical to our company’s growth and ability to deliver iconic and beloved products to consumers around the world.”
The Hershey, Pennsylvania-based chocolate producer giant celebrated its 125th anniversary last year. With more than 80 brands, Hershey currently employs approximately 16,500 people and brings in $8 billion in annual revenues. Some of its brands include Hershey’s, Reese’s, Kit Kat, Jolly Rancher, IceBreakers, SkinnyPop and Pirate’s Booty.
“As we work to accelerate Virginia’s economic recovery, existing corporate partners like The Hershey Co. are leading the way with new hiring and investment,” Northam said in a statement. “This major expansion is the company’s second in just over a year, and is a strong testament to the Shenandoah Valley’s ability to attract and retain high-caliber manufacturers. We thank Hershey for its continued confidence in Virginia and its people, and look forward to the company’s next chapter of growth in our commonwealth.”
The Virginia Economic Development Partnership worked with Augusta County to secure the project for Virginia, and Northam approved a $1.1 million grant from the Commonwealth’s Opportunity Fund to help Augusta County with the project. The company can also earn a $500,000 performance-based grant from the Virginia Investment Performance program. VEDP’s Virginia Jobs Investment Program will help with job creation and funding services.
“For over three decades, The Hershey Co. has been an important contributor to the Shenandoah Valley’s economy and reputation as a top location for food and beverage manufacturers,” Secretary of Commerce and Trade Brian Ball said in a statement. “It is an honor to partner with Hershey on another major investment and expansion, especially during these challenging times, and we stand ready to do what we can to ensure the company’s Stuarts Draft operation continues to thrive.”
The $2.7 billion acquisition of Henrico County-based Genworth Financial Inc. by China-based Oceanwide Holdings Group Co. Ltd. has been postponed — yet again — the companies announced Tuesday.
The Virginia State Corporation Commission’s Bureau of Insurance reapproved the merger, and the companies agreed to a 15th waiver and agreement to each party’s right to terminate the proposed agreement. The latest waiver extends the deal from June 30 to Sept. 30.
The Fortune 500 insurance company first announced the proposed takeover by China Oceanwide in 2016, but its completion has been pushed back repeatedly due to review by government regulators. Genworth says this newest extension allows time to address its approximately $1 billion in debt maturing in 2021.
“Genworth expects these steps to include a debt offering in the near term and taking the necessary steps to launch a 19.9% IPO [initial public offering] of its U.S. Mortgage Insurance business, subject to market conditions, in the event the China Oceanwide transaction is terminated,” says the company’s Tuesday statement.
Genworth says the extension also gives Oceanwide more time to finalize its own financing for the transaction, which could include debt funding up to $1.8 billion through Honey Capital and other third parties. The financing has been delayed due to the pandemic, Oceanwide told Genworth.
“We heard from our stakeholders that they would like greater assurance that the Oceanwide transaction is making progress towards closing,” Genworth President and CEO Tom McInerney said in a statement. “This extension and associated milestones address stakeholders’ concerns and provide our board with the flexibility to execute on our strategic priorities and maximize shareholder value while we continue to work with Oceanwide to close the transaction.
“We continue to believe the transaction represents the best and most certain value for Genworth’s shareholders.”
Under the newest extension of the Oceanwide deal, Genworth has the right to terminate the merger agreement Aug. 31 if conditions are not met.
Genworth in December 2019 completed the sale of the majority stake in its Canadian mortgage insurance company, which was required by Canadian regulators before Oceanwide could acquire Genworth. In March, the New York State Department of Financial Services reapproved Oceanwide’s proposed acquisition of Genworth’s New York-based insurance company, Genworth Life Insurance Company of New York.
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The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.