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byline: Sydney Lake

Va. reports 8% unemployment rate for July

Despite the ongoing , Virginia’s rate was 2.5% lower than the national average for the month of July, according to statistics released by the Virginia Employment Commission on Wednesday.

For the month of July, the U.S. reported a 10.5% unemployment rate while Virginia reported an 8% unemployment rate, a 0.2% improvement from the month of June. 

Petersburg had the highest rate of unemployment among Virginia localities, reporting a 19.1% unemployment rate for July. Among Virginia regions, the Greensville/Emporia labor market reported the highest unemployment rate at 10.8%, while the Winchester area reported the lowest rate at 6.2%. 

Northern Virginia and Shenandoah Valley localities tended to fare better, while Central, Eastern and Southern Virginia reported higher unemployment rates  on the whole. 

The 10 highest unemployment rates reported in July were as follows:

  • Petersburg, 19.1%
  • Emporia, 15.1%
  • Hopewell, 14.7%
  • Martinsville, 14.5%
  • Portsmouth, 13%
  • Richmond, 12.3%
  • Covington, 12.2%
  • Norfolk, 11.9%
  • Franklin, 11.9%
  • Danville, 11.8%

The 10 lowest unemployment rates reported in July were as follows:

  • Highland County, 4.2%
  • Madison County, 4.5%
  • Falls Church, 4.6%
  • Poquoson, 5.1%
  • Augusta County, 5.3%
  • Botetourt County, 5.4%
  • Rappahannock County, 5.4%
  • King George County, 5.5%
  • Mathews County, 5.6%
  • County, 5.7%
  • Clarke County, 5.7%
  • Fauquier County, 5.7%
  • Middlesex County, 5.7%

 

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Va. Credit Union League president to retire next June

The Virginia League (VCUL) announced Wednesday that its longtime president, Richard D. “Rick” Pillow, will retire on June 30, 2021, after dedicating 40 years to the credit union system.

“Anyone who has worked with Rick knows his passion for ,” VCUL Board Chairman Patsy Stuard, of Fort Lee Federal Credit Union, said in a statement. “His leadership and vision helped us position the league as the voice, champion and premier resource for Virginia’s credit unions. Rick’s guidance, his knowledge of the system and his enthusiasm will be missed, but he leaves a legacy of contribution and accomplishment that helped forge the league into the strong, stable, mission-focused organization it is today.”

Pillow began his career with credit unions in 1978 when he was hired by VCUL to serve as a consultant to credit unions. He served in several roles with the VCUL, its corporate credit union and with Martinsville DuPont Employees Credit Union (now ValleyStar Credit Union). In 1997, he was promoted to VCUL executive vice president, and on Jan. 1, 2000, became president, succeeding Eugene H. Farley Jr.

“What a privilege it’s been to have known and to have worked with so many wonderful over those four decades, and I’m grateful and humbled by the difference they made in my life on both a personal and professional level,” Pillow said in a statement.

During his tenure, the Credit Union House of Virginia was established in downtown Richmond as a lobbying and operations hub. He also oversaw political fundraising, the launch of new products and services within the VCUL and its service corporation — and was involved with the creation of TRGroup, a multi-league organization offering products, services and professional development opportunities to more than 700 credit unions.

“I’m also incredibly proud of the many accomplishments of our league and our credit unions, and the work we’ve done together to advance Virginia’s credit union system,” Pillow said in a statement. “That success is a testament to our extraordinary staff, to the tremendous support of our credit unions and to the passion of the many credit union volunteers who have given of their time and talents in service to the league and their fellow credit unions.”

Pillow has also served on the Credit Union National Association Board of Directors, the U.S. Central’s Credit Committee, the American Association of Credit Union League’s board of directors (as chairman) and the inaugural board of directors of the national Credit Union House. 

During the coming weeks, the VCUL board will discuss how to proceed with the succession process, Stuard said in a statement.

“As we move forward together over the next 10 months to ensure a smooth leadership transition, credit unions can rest assured their elected League Board and our dedicated staff remain committed to our mission to protect, promote and unify Virginia’s credit union system,” Pillow said in a statement.

The VCUL is the state trade association for the commonwealth’s not-for-profit, member-owned credit unions and has offices in Richmond and Lynchburg. The organization has 90 member credit unions.

 

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ASGN Inc. to buy Boston consultancy for up to $72M cash

ASGN Inc., parent company of Glen Allen-based recruiting firm Apex Systems LLC, announced Tuesday it will acquire Boston-based consultancy LeapFrog Systems LLC for up to $72 million in cash. 

The goal of the transaction is to grow the companies’ commercial consulting business, adding services for financial services, insurance and health care clients. LeapFrog anticipates approximately $33.3 million in revenues for 2020 and double-digit growth in 2021, according to ASGN, which is moving its headquarters from California to in October.

“At ASGN, we are committed to delivering value to all of our stakeholders by strategically growing our business in areas of increasing customer demand, while at the same time scaling our consultative capabilities in the key industry segments we serve. The of LeapFrog fits perfectly with each of these goals,” ASGN President and Ted Hanson said in a statement. “Their industry expertise, geographic location and unique digitization services strengthen ASGN’s digital roadmap solutions. We have been witnessing an accelerating trend toward digital transformation, making now the ideal time to welcome LeapFrog to ASGN.”

Under the acquisition, LeapFrog will become a part of ASGN’s Apex Systems division. Calabasas, California-based tech and company

ASGN Inc. announced in June it would invest $5 million on moving its headquarters to Henrico, where it will employ 121 . ASGN will also spend $7.4 million to expand its operations to Virginia Beach, where it will employ 147 people, and Roanoke, where it will employ 74 workers. The company anticipates the move will create an additional 358 across the state.

“ASGN’s reputation as a fast-growing services firm with nationwide reach and access to over 60% of the will help us grow from a regionally successful player to a national competitor,” LeapFrog CEO Bob Malone said in a statement. “By leveraging ASGN’s just-in-time recruiting capabilities and large candidate database, we will be able to quickly scale our projects while continuing to provide the exceptional service our customers have come to expect. Both LeapFrog and Apex Systems have always revolved around doing what is in the best interests of our employees and our customers, and this transaction is no different.”

 

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Arlington tech company names CEO

-based tech company Cobham Advanced Electronic Solutions (CAES) announced Monday it has hired Mike Kahn as , effective Sept. 1. He replaces Shawn Black, who is leaving the business to pursue other opportunities.

“We believe that Mike’s proven leadership capabilities and experience in engineering, manufacturing, mission assurance and programs will be of significant benefit to the company and our customers as we continue to take CAES forward,” CAES Vice Chairman Robert Hitt said in a statement. “We would also like to take this opportunity to thank Shawn Black for his hard work and leadership during his two years with CAES and wish him well for his future endeavors.”

With more than 40 years of experience in and defense, Kahn was most recently the sector vice president and general manager for weapon systems at Falls Church-based Northrop Grumman Corp. and had previously been the president of defense systems for Orbital ATK, which was acquired by Northrop Grumman.aer

CAES provides analog and radiation hardened for the U.S. aerospace and defense industry. The company employs more than 3,600 in the U.S., United Kingdom and Sweden.

 

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Vienna marketing software firm names chief revenue officer

-based company Surefire Local announced Tuesday it has hired Mike Pierce as its first chief officer.

Pierce most recently served as CRO for Digital Pharmacist Inc. and also served as senior sales director for Main Street Hub Inc. and director of sales for Yodle Inc.

“With his strong leadership and exceptional track record, he is the ideal person to help lead Surefire Local through our next stage of growth,” Surefire Local Founder and Chris Marentis said in a statement.

The Inc. 5000 company established the new executive position as a next step in the company’s growth. Surefire Local provides local marketing software to small businesses.

“What attracted me the most to Surefire Local was that it was hard to find a more synergistic opportunity aligned with my background and the company’s strong vision to succeed where others have fallen short, and I am looking forward to helping Surefire Local build a leading brand within the local marketing software space,” Pierce said in a statement.

 

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McLean satellite operator to buy in-flight broadband biz for $400M

-based communications services provider Intelsat Corp. announced Monday it will acquire in-flight connectivity provider Gogo Inc.’s commercial aviation business for $400 million.

Under the , Intelsat plans to pair its satellite and ground network to Gogo’s base of more than 3,000 commercial aircraft, according to a company statement. The transaction is expected to close in the first quarter of 2021. 

“Consumer demand for in-flight connectivity is expected to grow at a double-digit rate over the next decade, notwithstanding the impact of ,” Intelsat Stephen Spengler said in a statement. “The addition of Gogo’s commercial aviation business provides compelling strategic value for our stakeholders and makes strong commercial sense.” Gogo currently serves 21 commercial airlines, including 9 of the 20 top global carriers.

In May, Intelsat announced it had filed for Chapter 11 bankruptcy protection to spend money on a program that would allow it to build 5G infrastructure under the Federal Communications Commission order. The clearing project will cost Intelstat $1 billion to meet FCC deadlines and will make the company eligible to receive $4.87 billion in accelerated relocation payments. The company’s day-to-day operations will continue as usual, according to Intelsat.

The U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, approved the transaction, as well as Gogo’s board of directors. Intelsat expects to the transaction with cash on hand and borrowings under its $1 billion debtor-in-possession credit facility and the company has obtained support from key economic stakeholders.

“A priority growth objective for Intelsat is to extend our reach closer to the millions of customers who use our satellite capabilities to stay connected around the world,” Spengler said in a statement. “The addition of Gogo’s commercial aviation business is a significant step toward this goal. We are growing beyond satellite connectivity to expand into consumer-optimized managed services.”

 

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Newport News federal contractor acquires Vienna firm

-based and company ITA International announced Tuesday it has acquired -based management consulting firm Innovative Decisions Inc. (IDI).

A transaction amount was not disclosed.

IDI provides decision and risk analysis, operations research and systems engineering services for business and government customers, while ITA International provides analysis, planning, training, exercise, intelligence, cyber, logistics, engineering and marine services. The goal of the is to expand the company’s analytic impact and deliver more data solutions, according to a company statement.

“Bringing together ITA and IDI allows us to continue our mission to provide integrated service and solutions using data analytics and subject matter expertise,” ITA Mike Melo said in a statement. “We are ecstatic to have the IDI team join us as ITAers! Together, we will drive better decisions and better results for our global customers.”

ITA Data Analytics Center President Keith McGhee will lead IDI through the integration process and will manage daily operations of the subsidiary. Former IDI President Bob Liebe will become a senior vice president and report to McGhee. 

“We are thrilled to become a part of the ITA team, a well-positioned and rising business,” said Dennis Buede, IDI founder and chief innovation officer, said in a statement. “Knowledge sharing between the two entities will allow us to provide uncompressed and top-notch service.” Buede will become vice president of research and innovations.

 

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SAIC wins $79M Air Force contract

The U.S. Air Force awarded -based Science Applications International Corp. () a five-year, $79 million to deliver mission engineering services to one of the branch’s missile systems, the company announced Tuesday.

Under the contract, SAIC will work on the 414th Supply Chain Management Squadron’s Intercontinental Ballistic Missile (ICBM) LGM-30 Minuteman III missile system.

“As part of this new task order, SAIC will partner with the squadron to advance its mission by providing end-to-end product support and sustainment solutions using technologies like model-based systems engineering to reduce risk and optimize the Air Force supply chain,” Michael LaRouche, executive vice president and general manager of SAIC’s National Security Group, said in a statement. “The 414th mission is critical to our national defense, and our newly designed solutions will enhance Air Force readiness.”

The squadron provides services pertaining to enterprise demand, supply plans and engineering authority. SAIC under the contract will work to analyze and recommend solutions to enhance the reliability of the system, simplify maintenance and make it work with other systems.

Under the Information Analysis Center Multiple Contract (IAC MAC), SAIC will also will also focus on the suitability, lifecycle management, failure testing and manufacturing sourcing for the systems and its associated equipment.

SAIC employs more than 25,000 and has pro forma annual revenues of $7.1 billion.

 

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Eastern Va. restrictions to remain through Labor Day weekend

said Tuesday during a news conference that he would not roll back -related restrictions in Eastern Virginia prior to Labor Day.

On Friday, Virginia Beach Mayor Bobby Dyer sent a letter to Northam asking the to allow alcohol sales until 11 p.m. and requesting that the state eliminate the 50% occupancy limitation on indoor dining if restaurants exercise the 6-foot social distancing requirements, according to reports.

“We want our businesses to know our city is looking out for them,” Dyer told The Virginian-Pilot.

And although Northam presented data showing that case numbers in Eastern Virginia had improved since July, the region is still averaging 214 new cases per day.

Number of testing encounters, number of positive cases and percent positivity for the Eastern Virginia region. Yellow line represents the seven-day moving average for percent positivity from March 20 through Sept. 1.

“Overall, the is moderately contained in Virginia. The case numbers remain steady and the percent positivity [rate] is not spiking, and we continue to watch this very closely,” Northam said. “We need to remain vigilant and continue monitoring the data and need to keep working especially as college and schools open, and especially ahead of a holiday weekend. We’re not going to make any changes before Labor Day.”

In May, Virginia Beach was the first beach to open its oceanfront for recreational activity ahead of the Memorial Day weekend holiday, and Northam later urged other localities to model after Virginia Beach’s social distancing measures to open beaches to visitors. But following the holiday weekend (as well as the July 4th holiday), the region saw a spike in cases, which led Northam on July 28 to place Hampton Roads localities on further restriction. According to the public health emergency order, no alcohol could be sold or consumed at restaurants after 10 p.m., and all restaurants must close by midnight and gatherings of more than 50 would be prohibited.

“We need to think back to Memorial Day and July the 4th,” Northam said during his Tuesday press conference. “We saw surges in the week to two weeks following those holidays around the country and certainly also in Virginia. And we don’t want to repeat that as the summer draws to a close. If we can avoid these same surges after Labor Day, then we’ll have a running start as we go into the fall.

“With a holiday weekend coming up, with back to school coming in different forms and with colleges returning, now is the time to double down on what we know is working. We can set ourselves up for success this fall.”

 

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Augusta County expands business relief fund

The Augusta County Economic Development Authority (EDA) announced Tuesday it has expanded its Disaster Recovery Grant Fund to allow businesses that have previously received Paycheck Protection Program loans (PPP) or Economic Injury Disaster Loans (EIDL) to apply for of up to $15,000.

“The expansion of our grant fund will allow additional Augusta County businesses to receive assistance as our local begins its recovery,” EDA Chair Randy Roller said in a statement. “We look forward to supporting the efforts of our local business leaders and seeing return to our local workforce.” Augusta County received $6.5 million in federal CARES Act funding from the state on June 1, and the board of supervisors voted to allocate $200,000 to local business relief on June 24.

Eligible businesses in the county can apply for funding of $1,000 to $15,000 until 9 a.m. on Sept. 16 and disbursements will be made as soon as possible, according to the EDA. Businesses must be located in Augusta County, be locally operated and operate with one to 40 employees or be a sole proprietor. 

Applicants who have been awarded or have received PPP, EIDL or Virginia Rebuilds funds must demonstrate that the county funding would be used for different purposes from how the federal grants were used. Businesses may use the August County funding to reimburse costs for personal protective equipment, cleaning equipment and supplies, for e-commerce or virtual operations and construction that would allow for improved social distancing.

Awards will be granted by the Grant Review Committee based on the severity of impact that the has had on the business.

 

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