A state program that helps Virginia businesses hire veterans is expected to meet an employment target a year ahead of schedule.
By September, the 669 companies in the Virginia Values Veterans (V3) program had hired more than 18,000 veterans since 2014. That hiring total is expected to reach 20,000 by January, one year ahead of schedule.
Gov. Terry McAuliffe announced the employment numbers at a late September workforce conference in Richmond sponsored by the Virginia Chamber of Commerce.
McAuliffe said that in August 2014 he challenged the V3 program manager, Andy Schwartz, to get 10,000 veterans hired by V3-certified companies in four years. The program met that goal 900 days ahead of schedule.
The governor then doubled the goal to 20,000 hires by the end of his term in January 2018. The program is on a pace to pass that target one year early.
The V3 program was the focus of July’s cover story looking at efforts to encourage Virginia companies to hire veterans.
Depending on when you read this you will either be about to cast votes on November’s ballot or you will have already cast them. Regardless of the choices, I encourage everyone to exercise their civic duty.
Paraphrasing T.S. Eliot, November is the cruelest month. Some candidates will be hired and others will be fired. Who will be the biggest loser?
The good news is that at the top of the ballot for presidential candidates votes are very meaningful. In down ticket races by congressional district, the results are more dependent on how districts are drawn by the General Assembly. In these bespoke districts, the process is more a matter of politicians choosing their voters, rather than voters choosing their politicians.
This problem is not unique to Virginia. The Cook Political Report, which rates political races on their competitiveness, says only 24 of the 435 House of Representatives seats up for election this year were considered to be competitive — only about 6 percent!
In Virginia, with 11 congressional districts, there were at least two candidates running in all but one race. In District 11, Democratic incumbent Gerry Connolly of Fairfax County was unopposed. The Cook Report, nonetheless, rated only a single race as competitive. That’s District 10 in Northern Virginia, where Democrat LuAnn Bennett challenged Republican incumbent Barbara Comstock. This tightly contested race has drawn a huge influx of out-of-state campaign dollars.
In Virginia’s congressional districts, Republicans hold eight seats and Democrats have only three. In statewide races, an alternative reality emerges. The commonwealth’s majority voted for a Democratic president in both 2008 and 2012. Democrats hold both of Virginia’s U.S. Senate seats. In 2013 Democrats won all statewide offices — governor, lieutenant governor and attorney general. So why the difference?
In fairness, it is by design. Dividing the state into districts ensures that different regions have an opportunity to select their own representatives. This helps to balance power across the entire state. Rural regions and urban regions have different needs, all of which should be fairly represented.
Here’s the rub: Who draws the congressional districts? It is supposed to be done by state legislators (who also draw their own districts) following specific criteria, not including easy re-election for incumbents.
Redistricting is done every 10 years after the completion of the U.S. Census. The Virginia Constitution provides that districts should be drawn geographically compact, geographically contiguous and approximately equal in population. The U.S. Voting Rights Act forbids districts designed to dilute the political influence of racial minorities.
During the past couple of years there have been numerous court challenges to redistricting schemes, in Virginia and other states. Some have risen all the way to the U.S. Supreme Court, and others are ongoing.
While there isn’t room here to review these cases, suffice it to say that the courts have largely held against unfairly drawn districts. In Virginia, a lawsuit led to the court-imposed redesign of the 3rd and adjacent congressional districts.
While Virginia’s legislative districts are reasonably equal in population and somewhat contiguous, they are hardly compact. OneVirginia2021, an organization advocating fair redistricting, is seeking an amendment to the Virginia Constitution that would provide for an impartial commission to take the redistricting out of the hands of legislators. Thirteen other states already use alternative approaches to an entirely legislative process.
How much difference would it make to get the foxes out of the henhouse? Actually, it is likely that not much would change in terms of how districts might vote.
Compact districts might lead to a few more competitive races, but rural voters will still live in rural Virginia, urban voters will still live in the cities, with suburban voters in between. Each of these constituencies will identify more with some issues than others and are drawn to politicians and parties who represent these issues best.
In other words, redrawing district lines doesn’t do much to change the large swaths of red and blue that differentiate various regions of the commonwealth.
Still, over time, there are changes. More voters have migrated into suburban and urban areas as Virginia’s economy has become less agricultural and industrial and more driven by technology and professional services.
Demographics are changing, too. The rural population tends to be older and less diverse. Most newcomers to Virginia wind up in the suburbs and urban areas.
With these population shifts more compact districts ultimately will lead to more districts being created in more populous parts of the state, diluting the influence of rural areas with lower population.
A wise demographer once told me that population shifts weren’t a matter of speculation or opinion — they are facts. It is time for our legislative boundaries to fairly reflect the changes going on in Virginia.
SOUTHERN VIRGINIA Ross Fickenscher and Garrett Shifflett are developing 600 Craghead St., which will have two commercial spaces at street level — including Ballad Brewing — and 56 apartments on the upper levels. Fickenscher and Shifflett are receiving $90,805 from the Virginia Tourism Growth Fund for the project, which is expected to be completed in April. Danville Mayor John Gilstrap said this project will bring the partners’ total investment in the city’s River District to about $28 million. (Danville Register & Bee)
In September, Danville City Council unanimously approved rezoning land at South Main Street and Fulton Heights for a motel, restaurant and conference center. Applicant Paresh Suthar requested rezoning a total of about 3.5 acres from Old Town Residential to Highway Retail Commercial. Mark Talbert, of Dewberry, said the motel would be a $4.5 million investment and create 13 to 16 full-time jobs. (Danville Register & Bee)
Eastman Chemical Co. officials presented a $125,000 check in October to the Smith River Small Towns Collaborative, a revitalization effort that targets buildings, streetscapes and other features along an area called “Fifteen Magical Miles” in Fieldale, Bassett, Stanleytown and Koehler. Those miles follow the roads and the Smith River where the furniture and textile industries once thrived. Eastman employs more than 700 people at its sites in Henry County. (Martinsville Bulletin)
Goodyear plans to contest more than $1 million in fines issued by the state, which cited more than 100 violations at the company’s Danville plant after safety and health inspections. The plant had four employee deaths from August 2015 to August 2016. The Virginia Department of Labor and Industry’s Virginia Occupational Safety and Health program cited two willful and two serious violations and $152,600 in penalties in response to the April 12 death of Charles “Greg” Cooper.(Danville Register & Bee)
Work has begun to transform the former AVRC building in Danville into the North American headquarters of Overfinch, a British car company that customizes Range Rovers and transforms them into luxury vehicles. In July, Overfinch announced its plan to open the plant in Cyber Park, which is owned by the Danville-Pittsylvania County Regional Industrial Facility Authority. The company said it would take 60-90 days to complete the renovations, and hiring would begin this fall. (Danville Register & Bee)
SOUTHWEST VIRGINIA
Roanoke-based Meridium announced in September that it has become a wholly owned subsidiary of GE Digital, a division of General Electric. GE said that the total value in acquiring Meridium was $495 million, which includes an investment GE made in the company in 2014. Bonz Hart, who founded Meridium in 1993, will remain the company’s CEO. Meridium also will retain its name and continue to be based in Roanoke. (The Roanoke Times)
Texas-based Pharos Capital Group has acquired TechLab, a Blacksburg-based company that creates rapid tests for intestinal diseases. Co-founders Tracy Wilkins and David Lyerly previously sold 49 percent of the company to publicly traded Alere in 2006. Terms of the deal were not disclosed, but SEC records show Alere estimated as recently as December 2015 that its 49 percent stake was worth about $13.3 million, up from the $8.8 million it paid 10 years earlier. (The Roanoke Times)
The new owners of Tanglewood Mall snagged the property for $22.7 million, according to Roanoke County real estate records. Alabama-based development company Blackwater Resources bought the property Sept. 15. The mall property covers more than 58 acres in Roanoke County. (The Roanoke Times)
The Botetourt County Board of Supervisors gave final approval in September to an incentives package that helped bring a community college services center — and up to 190 jobs — to Daleville. Under the agreement, the county will provide 117 cubicle work stations for the Virginia Community College System’s center, which will place under one roof many administrative functions that previously were performed at the state’s 23 community colleges. (The Roanoke Times)
Virginia Tech plans to spend $225 million on a business and analytics complex. Construction is projected to begin in 2020 and be completed in about 2023. The complex is expected to include two dormitories and two academic buildings, which would become the new home of the Pamplin College of Business and house research space in Tech’s data analytics and decision sciences destination area. (The Roanoke Times)
SHENANDOAH VALLEY Christendom College leaders have announced a $40 million fundraising campaign. The money would be used to build a new chapel on its Front Royal campus and provide financial support for the college and its students. So far, the college has raised more than $28 million, or about 72 percent of its total goal. Christendom President Timothy O’Donnell said the college hopes to complete the campaign by its 40th anniversary in 2018. (The Northern Virginia Daily)
Military tent maker HDT Global plans to move its Buena Vista operations to Huntsville, Ala. Brian Brown, Buena Vista’s director of economic development, said the move will affect 80 to 100 employees. Ohio-based HDT also plans to consolidate operations in the Fredericksburg area with a new facility that will “expand our capabilities and facilitate innovation and product development.” (The Roanoke Times)
Natural Bridge in Rockbridge County is now a state park. In September, Gov. Terry McAuliffe declared the geological formation and its 1,500 surrounding acres as the new Natural Bridge State Park. Although the Natural Bridge attraction has faltered financially in recent years under nonprofit ownership, its new management by the state park system is expected to boost visitation, stabilize the bottom line and forever protect its natural and historic resources from commercial development. Natural Bridge also will become an affiliated area of the National Park Service. (The Roanoke Times)
Shenandoah Telecommunications Co.(Shentel) announced that the company has been chosen to provide dark fiber connections between all municipal buildings in Harrisonburg, as well as lit fiber services and dedicated Internet access to all of the Harrisonburg City School buildings. Edinburg-based Shentel services include wireless voice and data; cable video, Internet and voice; fiber network and services; and local and long distance telephone. (News release)
The Virginia Military Institute Foundation has raised more than $300 million in its largest fundraising campaign ever. The goal of the fundraising effort, “An Uncommon Purpose: A Glorious Past, A Brilliant Future: The Campaign for VMI,” was $225 million. More than 14,000 donors have participated in the campaign, which included 53 gifts of $1 million or more and two gifts of more than $20 million each. (VirginiaBusiness.com)
EASTERN VIRGINIA
The Council on Occupational Education has reaccredited The Apprentice School of Newport News Shipbuilding, a division of Huntington Ingalls Industries Inc. The apprentice school, which has operated for 97 years, has been reaccredited through 2022. The school offers four- to eight-year apprenticeships in 19 trades and eight optional advanced programs. Apprentices work a 40-hour week and are paid for time at work in addition to their time in academic classes. (VirginiaBusiness.com)
The Port of Virginia announced it has an almost 50-year lease of the Virginia International Gateway (VIG) marine terminal in Portsmouth. The lease, which lasts until 2065, will give the port oversight of the terminal and its operations. Plans also include a $320 million investment to double the capacity of the highly automated terminal. The lease was signed between the port and Virginia International Gateway Inc., which is owned by Alinda Capital Partners and Universities Superannuation Scheme (USS). (VirginiaBusiness.com)
ST Tissue LLC recently announced a $35 million expansion in Isle of Wight that’s expected to create 50 jobs. The company has been in Isle of Wight County since 2013 making tissue, towel and napkin products for commercial use and employs more than 85 people. Incentives include a $167,500 grant from the Commonwealth’s Opportunity Fund. (The Virginian-Pilot)
TowneBank has opened its new Richmond headquarters at the Gateway Plaza building downtown. The Hampton Roads-based bank is leasing about 39,000 square feet in the building. TowneBank recently merged with Chesapeake-based Monarch Financial Holdings Inc. With the acquisition, TowneBank’s assets now total about $7.58 billion. (VirginiaBusiness.com)
The U.S. Army Corps of Engineers has cleared the way for construction of a new U.S. 460 from Suffolk to Zuni, but the $425 million project must be ranked by the state to determine whether it will be built. Construction of the new highway will be decided through the state’s Smart Scale process for setting transportation priorities. The project will be ranked by January for a decision by the Commonwealth Transportation Board by June. (Richmond Times-Dispatch)
NORTHERN VIRGINIA
A former employee with a top secret clearance at McLean-based Booz Allen Hamilton Inc. has been accused of stealing highly classified computer code used to hack computer systems in countries such as Russia, China, Iran and North Korea. Harold Thomas Martin III of Glen Burnie, Md., was charged with theft of government property and unauthorized removal or retention of classified documents. He worked as a contractor at the National Security Agency. (Washington Business Journal)
Reston-based IBC, a DBS Company, a technology and management consulting firm, has a new name, Dominion Consulting. The company also launched a new website, www.dominionconsulting.com. (News release)
Members of New Mexico-based High Plains Federal Credit Union have voted to merge with Alexandria-based PenFed Credit Union. Under the merger, more than 6,000 members will join PenFed, which has 1.4 million members worldwide and $20 billion in assets. PenFed was established in 1935 as the War Department Credit Union. High Plains Federal is located in Curry County, N.M., home to Cannon Air Force Base. High Plains Federal has two branches and almost $39 million in assets. (VirginiaBusiness.com)
The Northern Virginia Chamber of Commerce and George Mason University have created a partnership designed to help drive the regional economy. Under the agreement, the chamber and GMU will work together in developing degree programs that address regional workforce needs. The chamber and the university also will co-host events, share office space and connect businesses with Mason faculty and researchers. (VirginiaBusiness.com)
Ashburn-based OneGlobe LLC, an IT and professional services consulting firm, has opened a second office in Reston to accommodate plans for an expansion. The new office at 12110 Sunset Hills Road, Suite 652, in Reston will provide capacity for engineering, sales and leadership functions across the company. Founded in 2005, OneGlobe’s core competencies include IT architecture and system development using Agile and DevOps development practices. (VirginiaBusiness.com)
CENTRAL VIRGINIA
Richmond-based Dominion Resources Inc. and Questar Corp. have completed their merger, forming one of the nation’s largest combined electric and natural gas energy companies. Salt Lake City-based Questar’s “hub of the Rockies” system is a principal gateway for gas supply to Western states. (Richmond Times-Dispatch)
The Washington, D.C.-based International Economic Development Council (IEDC) has recognized the Greater Richmond Partnership as one of 52 Accredited Economic Development Organizations (AEDO). Created in 1993, the AEDO program recognizes the professional excellence of economic development organizations in North America, providing them independent feedback from national peers. (VirginiaBusiness.com)
Financial services company Markel Corp. is laying off 80 people in its information technology department as the Henrico County-based company turns to an outside contractor for part of its IT work. The layoffs — including about 40 at the company’s headquarters in Henrico County — marks the first time the specialty insurer has laid off a large number of employees in recent memory, if ever. The layoffs will be phased in over a nine-month period, the company said. Markel’s global workforce is about 10,600. (Richmond Times-Dispatch)
The State Council of Higher Education for Virginia approved a contingency plan in September giving an 18-month grace period to schools that receive their accreditation from the Accrediting Council for Independent Colleges and Schools. The accreditation agency is under fire for the poor outcomes of students, based on their job placement, graduation and loan repayment rates. Termination was recommended in June by U.S. Department of Education staff members and by a federal panel, the National Advisory Committee on Institutional Quality and Integrity. (Richmond Times-Dispatch)
Stone Brewing Co. said in October it plans to lay off 5 percent of its employees because of an “unforeseen slowdown” in business growth. The San Diego-based company did not say specifically how many employees would lose their jobs, or whether any job cuts occurred at the much-heralded brewery the company opened in Richmond’s Fulton neighborhood this year. Stone said on its website that it has more than 1,100 employees. (Richmond Times-Dispatch)
SOUTHERN VIRGINIA
The Southern Virginia Regional Alliance has named Linda Hutson Green as the new director of economic development. Green was district director for U.S. Rep. Robert Hurt, R-5th. (Work It, SoVa)
Robert B. Burger Jr., a retired funeral services licensee from Franklin County, and Tanya Smith Foreman, education initiatives manager at Kingsport, Tenn.-based Eastman Chemical Co., have been named to the board of Martinsville-based New College Institute. W. Weldon Hill, associate professor of music at Virginia State University, and Janice Fain Wilkins, a self-employed health-care administrator from Patrick County, were renamed to the board. (News release)
Earl B. Reynolds Jr., Danville’s deputy city manager, has been named to the state Board of Housing and Community Development. (News release)
Zeb Talley has been named superintendent of Martinsville City Public Schools. Talley had been serving as interim superintendent since mid-July. Talley most recently was principal of Patrick Henry Elementary School. Before that, he was co-principal of Martinsville Middle School. (Martinsville Bulletin)
SOUTHWEST VIRGINIA Michael J. Friedlander has been named to the Virginia Biosciences Health Research Corp.’s board of directors. He is vice president for health sciences and technology at Virginia Tech in Blacksburg and the founding executive director of the Virginia Tech Carilion Research Institute in Roanoke. (News release)
Mark T. Leonard, named to the Virginia Coalfield Economic Development Authority. He is vice president and CEO of Norton Community Hospital. (News release)
The Salem/Roanoke County Bar Association has elected officers for the 2016-17 term: Peter Lubeck, president; Nanda Davis, first vice president; Brad Thompson, second vice president;Adam Moseley, secretary/treasurer;Paul Dull, judge advocate; Sarah Jane Newton, immediate past president; and John Koehler, corresponding secretary. (The Roanoke Times)
Roanoke-based Advance Auto Parts Inc. has appointed Thomas Okray executive vice president and chief financial officer. Okray previously worked at Amazon, where he served as vice president of finance, global customer fulfillment. He succeeds Mike Norona, who will remain with the company in an advisory role until the end of the year. (News release)
Scott Tate has been promoted to associate director at the Office of Economic Development at Virginia Tech in Blacksburg. He was a senior economic development specialist with the university’s office of economic development. (News release)
SHENANDOAH VALLEY Richard Kennedy has been named CEO of The Top of Virginia Regional Chamber, which serves businesses in Winchester and Clarke and Frederick counties. Kennedy is former CEO of the Fall Brook, Calif., Chamber of Commerce. He replaces Christine Kriz, who left the position in May after roughly nine months to become the director of the Small Business Development Center at Lord Fairfax Community College. (The Northern Virginia Daily)
Strasburg-based First National Corp. announced that Elizabeth H. Cottrell has been elected chairman of the board of directors of the company, as well as of First Bank, its banking subsidiary. Gerald F. “J.J.” Smith Jr. has been elected vice chairman and secretary of each board. Cottrell is the owner of RiverwoodWriter LLC, which offers technical writing and editing, ghostwriting, social media and WordPress consulting services to small business clients. Smith is the chairman, president and CEO of Valley Proteins Inc., a rendering business based in Winchester. (The Northern Virginia Daily)
Dan Whitten has been named Warren County’s attorney. Whitten had served as the interim county attorney since Blair Mitchell retired in May. Previously, Whitten was the county’s assistant attorney. (The Warren Sentinel)
EASTERN VIRGINIA Martin Culbreth, who has recently served as the FBI’s section chief for its strategic information and operations center in Washington, D.C., has been named special-agent-in-charge of the FBI’s Norfolk Field Office. (Daily Press)
Virginia Beach-based Atlantic Bay Mortgage Group has promoted Chrissy Brown and Jamie Vanlandingham. Brown was promoted from operations manager to executive vice president of operations. Vanlandingham was promoted from regional vice president of loan production to president of credit and risk. (Daily Press)
George Fox has been appointed vice president of sales and leasing in the Virginia Beach office of Divaris Real Estate Inc. Before joining Divaris, Fox served as director of leasing for Richmond-based Hackney Real Estate Partners and was a senior vice president of business development and director of leasing for Wheeler Real Estate Investment Trust in Virginia Beach. (VirginiaBusiness.com)
Gaylene Kanoyton has been named to the Transportation District Commission of Hampton Roads. She is president of Celebrate Healthcare LLC, Hampton. (News release)
Brad Mason will become president of AMSEC LLC, a subsidiary of Huntington Ingalls Industries, on Nov. 14. He has been the firm’s director of operations for maintenance, modernization and technical services. (News release)
NORTHERN VIRIGNIA Deborah L. Crawford has been named to Virginia Biosciences Health Research Corp.’s board of directors. She is vice president for research at Fairfax-based George Mason University. (News release)
Fairfax-based MainStreet Bank has promoted Abdul Hersiburane to executive vice president and director of business development. Hersiburane joined the bank in 2007 as a relationship manager. (VirginiaBusiness.com)
Alexandria-based Calibre Systems Inc. has named Kimberly K. Horn to its board of directors. Horn is president of Kaiser Foundation Health Plan of the Mid-Atlantic States Inc. (VirginiaBusiness.com)
Dick Koch has joined Fairfax-based George Mason Mortgage as managing director, strategic growth & acquisition. Koch was a regional sales executive for Bank of America. (VirginiaBusiness.com)
Darla Moon has been named chief financial officer at Patriot Group International in Warrenton. She was senior vice president of business operations at ManTech for more than six years. (News release)
Brian Tucker has joined JLL’s Northern Virginia agency leasing team as a managing director. Tucker was an executive director at Cushman & Wakefield. (VirginiaBusiness.com)
The Alexandria-based Society for Human Resource Management has named Shonna Waters vice president of research. Waters was a technical leader in human resources in the federal government. (News release)
CENTRAL VIRGINIA Brian Burns, CPA, has been promoted to director at Dixon Hughes Goodman in Richmond. Burns leads the company’s forensics and valuation practice in Virginia. (News release)
Greg Lowe, the former CEO of HCA’s Lawnwood Regional Medical Center & Heart Institute in Fort Pierce, Fla., is the new head of HCA’s Chippenham and Johnston-Willis hospitals. He succeeds Tim McManus, who was named president of the HCA Capital Division in July. (Richmond Times-Dispatch)
Courtney M. Malveaux has joined Jackson Lewis PC’s Richmond office as a principal. He was a director at Thompson McMullan in Richmond. (News release)
Lynchburg-based BWX Technologies has appointed Barbara A. Niland, James M. Jaska and Kenneth J. Krieg to its board of directors. Niland retired after being vice president, business management, and CFO of Huntington Ingalls Industries for more than five years. Jaska is president and managing director of Nova Global Services, an operations and advisory firm. Krieg is the founder of Samford Global Strategies, a consulting practice. (VirginiaBusiness.com)
Claire Forcier-Rowe, manager of Long & Foster Real Estate’s Hanover and Bay/River offices, has been elected president of the Virginia Association of Realtors. She will assume her post in November. (VirginiaBusiness.com)
“Once there were two brothers. One ran away to sea, the other was elected vice president, and nothing was ever heard of either of them again.”
— Thomas R. Marshall, vice president under President Woodrow Wilson
“The vice presidency is not worth a bucket of warm spit.”
— John Nance Garner, vice president for two terms under President Franklin Roosevelt
When Tim Kaine was winding up his term as Virginia’s governor in 2010, he said he didn’t expect to seek elective office again.
But his retirement proved to be short-lived. Now a U.S. senator, he is the Democratic Party’s vice presidential nominee. Win or lose in this election, Kaine and his Republican counterpart, Indiana Gov. Mike Pence, are automatically presumed to be future presidential candidates.
The question each faces is: Will it help or hurt my political career to become vice president?
Many of the forgotten vice presidents elected in the past 227 years shared Marshall and Garner’s view that the vice presidency is a political black hole.
Want some proof? Here is a list of some of the distinguished men who have filled the job: George Clinton, Richard Mentor Johnson, George M. Dallas, Henry Wilson, Levi P. Morton, Charles G. Dawes and Charles Curtis. Recognize any of them?
The only duty that the U.S. Constitution gives the vice president is to preside over the Senate. Michael Barone, the co-author of “The Almanac of American Politics” hints that the scanty responsibilities of the post may have been an oversight. “The Framers of the Constitution created the office near the end of their deliberations,” he notes in a Wall Street Journal column.
Unlike the speaker of the house, who also presides over a congressional body, the vice president has no control over the members of the Senate. In fact, other than breaking a tie vote in the Senate, the only real power that a vice president has is what the president is willing to share.
The insignificance of the vice president’s constitutional duties, however, doesn’t negate the one reason the office exists. Vice presidents are a “heartbeat away from the presidency,” and they have taken over in emergencies nine times in our history. On four occasions the president was assassinated. On another four, the president died of natural causes. And of course, there was one resignation when Vice President Gerald Ford succeeded Richard Nixon in 1974.
Because the transfer of power can be unexpected, you would think the presidents would at least get along with their vice presidents and keep them informed. Too often, however, the choice of running mate is driven by political expediency. The result is an odd couple.
In his book “The American President,” historian William Leuchtenburg notes Democratic Party bosses became alarmed about President Franklin Roosevelt’s health as the 1944 election approached. Many believed that the president’s running mate would likely succeed him before the end of Roosevelt’s fourth term.
The party pushed Roosevelt to replace his left-leaning vice president, Henry Wallace, with the more moderate Sen. Harry Truman of Missouri. The bosses’ prediction came true. Truman became president when Roosevelt died at 63 of a cerebral hemorrhage in April 1945.
Truman was “woefully uninformed,” Leuchtenburg says. In the 82 days he had been vice president, Truman talked to Roosevelt only twice outside of Cabinet meetings. The new president, in fact, knew nothing about the development of an atomic bomb until after his first Cabinet meeting. His decision to drop the bomb four months later would end World War II.
Dwight Eisenhower was 62 when he was elected president in 1952. His running mate, Nixon, wasn’t yet 40. But their pairing on the Republican ticket had nothing to do with concerns about Eisenhower’s health. The retired five-star general didn’t care for his running mate, who was picked by party pols to appease its conservative wing. Eisenhower, in fact, tried to dump Nixon before the election.
Nonetheless, they would serve two terms together, during which Eisenhower suffered a heart attack and a stroke. When Nixon ran for president in 1960, reporters asked Eisenhower, “Can you think of a major contribution that Nixon has made to your administration?” The president replied, “Well, if you give me a week I might think of one.” The remark became ammunition in John Kennedy’s winning campaign.
Barone asserts that the situation for vice presidents has changed in the past 40 years. The turning point came in 1976 when former Georgia Gov. Jimmy Carter asked Minnesota Sen. Walter Mondale to be his running mate on a winning ticket. Conscious of the humiliation suffered by his friend, Hubert Humphrey, as Lyndon Johnson’s vice president, Mondale insisted on making his vice presidency “a useful instrument of government.” Under Carter, he was given high-level intelligence briefings, an independent staff and permanent access to the president.
That precedent created a pattern that has continued down to Joe Biden today, Barone says.
But how well has the job served as a launching pad for the presidency? Only one of the five vice presidents elected since 1976 made it to the Oval Office, George H. W. Bush. He, however, was beaten in his bid for re-election, garnering only 37.4 percent of the vote in a three-way race.
So who has been winning the top job during the past four decades? Former governors: Carter, Ronald Reagan, Bill Clinton and George W. Bush. Only Carter failed to serve two terms.
Maybe Kaine and Pence should have stuck with their gubernatorial records if they want to be president.
Virginia Business and the Virginia Society of Certified Public Accountants held a roundtable discussion to analyze the group’s latest Economic Expectations Survey.
This year’s CPA panelists were Dave Cotton, chairman of Cotton and Co. in Alexandria; Marty Einhorn, managing shareholder with Wall, Einhorn & Chernitzer PC in Norfolk; Clare Levison, head of Clare Levison Consulting in Blacksburg; and Gary Thomson, regional managing partner at Dixon Hughes Goodman in Richmond.
The roundtable was conducted by Virginia Business Editor Robert Powell and Special Projects Editor Veronica Garabelli in September at VSCPA’s headquarters in Richmond. The following is an edited transcript.
Virginia Business: The majority of CPAs believe that the national economy is moving in a positive direction. What are some [examples] of the positive momentum that CPAs are seeing?
Thomson: In Virginia, I think we’re optimistic because for the first time since the Great Recession we’ve seen our employment numbers return to what they were before 2007-2008. That in and of itself creates a great sense of optimism: to see people out there working, to see our clients actually have the opportunity for employment and [engagement.] It’s an important, positive sign for us.
Levison: Because I work so much in the personal finance space, I tend to feel like the economy is moving in a positive direction when the average person feels that it is — when they feel it in their own home budget, their own personal finances, their own pocketbook. We can put out all of the statistics that we want to, but if the average person isn’t feeling it, then it doesn’t mean a lot. We’re starting to see that the average person does feel the economy is moving in the right direction, which is a really good sign.
VB:Southeast Virginia CPAs have a more favorable view of the economy, 55 percent, while only 34 percent of those in Southwest have a favorable view. What do you think accounts for these differences?
Einhorn: Our economy [in Southeastern Virginia] is dependent on the government, our naval base, and that is both a blessing and a curse. The blessing being we don’t dip as low as the rest of the economy in the state or nationally when there is a recession because the government tends to remain relatively steady, except for our recent sequestration, which really hasn’t affected our economy that much. Also, by the same token, we tend to rise a little bit slower and not have as high of a peak. There’s a lot of activity in our area, a lot of construction … a lot of new jobs coming into the area. So I believe that is contributing to the optimism.
Levison: For Southwest Virginia, you saw infrastructure and geographic location mentioned in the survey. [Those] probably [are our] two big issues that [impact] Southwest Virginia. There’s not the same level of infrastructure that you see in the rest of the state. There are not as many options. We love our part of the state. We think it is beautiful, but if you have an economic situation, a job loss, a downturn, things like that, you don’t have as many second choices to turn to as you do in some of the other parts of the state.
Cotton: I’d like to echo Marty’s sentiment about the government. Northern Virginia is probably more dependent on government than Norfolk and despite sequestration [and] deficit spending, the government continues to spend money. If your primary customers are entities that can print money, then it kind of immunizes you from economic stress in the economy.
VB: More than half of the CPAs responding [in the survey] expect their clients to see adverse effects from the new Department of Labor [DOL] overtime rule. Could you comment on what effects you’re seeing with your clients?
Thomson: I don’t think businesses operate well in uncertainty. When we had the Affordable Care Act passed and we were waiting for all the implementation, there was a great deal of uncertainty, a great deal of pessimism about what that was going to look like, how that was going to cause businesses to restructure. I think the same type of thing is going on with the DOL overtime standards. There’s a great deal of uncertainty. Businesses are looking to how they can restructure the labor force, and again when you’re in that period of uncertainty, despite the fact that I do think as CPAs we’re more optimistic, businesses generally get very defensive and at times pessimistic until we actually see these things rolled out. I think it’s a natural reaction to the uncertainties.
Einhorn: I also believe that a lot of the uncertainty concerned about this law is based on the timing … We’re gradually climbing out of [the Great Recession] and then to have these rules hit, there’s a lot of fear that this might slow us down or maybe turn us in the other direction. I think that has something to do with it.
Cotton: We’re also in a larger transition in terms of the employee/employer relationship. People now are asking for more flexible schedules. Not everybody wants to work the traditional 40-hour week, and I think employers are having to accommodate, adjust and acclimate to that new structure of the relationship.
VB:Last year, more than 40 percent of respondents said small businesses did not have access to adequate credit. That percentage fell to 30 percent this year. Has the credit market improved?
Cotton: We’ve had a substantial increase in government regulation of the credit market with [the] Dodd-Frank [Wall Street Reform and Consumer Protection Act] and Consumer Financial Protection agency, and I think it is more difficult to get financing approved in that greatly increased regulatory environment.
Thomson: Generally speaking, it has improved, but [there are] alternative sources of financing and capital out there that have become a greater part of our economy … I think the natural economic forces of alternative sources of financing — money being on the sidelines for a long time — have opened the doors a little bit. Now, not unlike prior years, if you don’t have a lot of equity or a lot of something to back up that money, it’s still going to be a difficult market, but at least they’re seeing more options out there.
VB:There is danger that Virginia could see the full force of sequestration coming in future years. How would that affect the state’s economy?
Einhorn: It will affect the entire state but specifically Northern [and] Southeastern Virginia. We would be dramatically affected because the way they have implemented it in the past. It’s not incremental. It is in very large jumps, for example, deciding to close down an entire base or close down a fire squadron or move them, and so it’s something that is very unpredictable, and I think it would have a major impact on the state’s economy.
Thomson: We’ve already seen a significant dip from either direct sequestration or just a peel back in government funding. The good news is that has created opportunities, particularly when you look at technology, cybersecurity, other fields that are beyond the federal government. But even with all that positive reaction, we still are the largest per-capita recipient of federal funds. So it, by nature, will have a significant impact, and it cascades through all of Virginia.
VB: This year and last year, the survey showed that CPAs are frustrated by political partisanship at the state and federal level, saying it prevents government from addressing urgent needs. What are some of the needs that are being neglected because of political gridlock?
Cotton: What concerns me is that — a product of the partisanship and gridlock — is that we’ve stopped talking about the fiscal uncertainty in the future. Our clients, our businesspeople, they understand that you can’t consistently spend 40 percent more than you take in, and I think there’s a looming crisis. I’m not sure exactly how it’s going to get resolved. It’s going to have to get resolved.
Levison: A piece of that is educating the public about the financial literacy associated with overspending, with government overspending. Trying to do that in a nonpartisan way, which I think CPAs have done an excellent job, because, at some point, you feel it’s going to have to come from the people pushing it to the government because the government doesn’t seem to be doing it on their own … You wouldn’t be able to survive your own family finances if you [overspent]. I think there is a huge financial education piece that comes along with breaking some of that gridlock, so people understand it’s not a Republican or Democratic issue. It’s just basic math.
VB:Infrastructure, and health-care costs remain the most pressing issues in Virginia according to the survey. Why do those issues continue to rise to the top? Do you see any problems with change?
Einhorn: [In regards to health-care issues], as CPAs, we have worked very hard to try to come up with strategies so that businesses can negotiate their way around these rules, and it is not easy. Not to suggest that we would have them not live by those rules, but it’s very complicated. We’re still in that phase where people don’t understand exactly what is being asked of them, and therefore, it’s a major concern.
When it comes to infrastructure, we’ve been through this period of decades of not doing our deferred maintenance. We have relied on the engineering and infrastructure dollars that we spent back in the last century to carry us through until we’ve built up this tremendous liability, deferred liability, that is affecting every part of the state, and the prospect of us growing in a double-digit economy is almost scary because the infrastructure is so far behind that.
We’re in a mode right now, I believe, of just trying to catch up to where we should be. It doesn’t affect the people within the state nearly as much as it affects people who are considering locating into the state, because they look at where we are and what our deferred maintenance is, and they say, “Well, I have other options. I can go somewhere else [where they’ve] chosen to make those investments.” It’s very much at the top of my region’s mind, and I’m sure it is also at the top of the minds of the entire state.
Cotton: We’ve had some issues in Northern Virginia that illustrate just how fragile our infrastructure status is. We’ve had some issues with Metro trains catching on fire, and so Metro shut down the entire system for two days to do inspections of the system, and, during that period of time, there was traffic gridlock all over Northern Virginia, all over the D.C. metro area. It just illustrates that some minor shutdown in any of our traffic systems is going to have a profoundly disruptive effect on everybody’s business.
Thomson: There’s a [a diversity of opinions across the state in terms of what we need to fix]. In Northern Virginia, they’ve been talking about something that none of the rest of us can relate to, which is a mass transit system. They also have this incredible airport, Dulles airport, that I am pleased to see the governor putting some funding into revitalizing Dulles, a critical corridor for us. But when you move out to Clare’s region, in that area [where there’s] traffic on 81, traffic on 64. How do we get new roads back to the great natural resources they have? When you get to Marty’s region, how do we get another tunnel crossing or something to protect us in case of a natural disaster with just the pure stresses that the infrastructure of the port will put on it?
Each one is different. Back to the question of partisanship [that was asked earlier]: There are some really good things that happened where they set partisanship aside, but at the same time, it becomes very regional in where do we want the money to go? My sense is if you talk to the four of us — based on where we live and geography — we would have a different priority.
There’s a unanimity that we need to fix infrastructure, but the complexity gets into what do we fix first and all of them have extraordinarily big price tags that come along with it.
Levison: In our part of the state, we’re very excited at the thought of the Amtrak extension and also just basic transportation things like more direct flights to New York City from [Roanoke-Blacksburg Regional] airport. So you’re right. It varies. What people think is that [it] might seem so basic, Amtrak and extra direct flights, but it’s significant for people in our part of the state to be able to have greater access to do their business.
VB:More than 81 percent [of survey respondents] see Virginia’s business climate as good or excellent compared to neighboring states. They also don’t see any reason to lower the commonwealth’s tax rate. Why do you think CPAs are satisfied with current conditions?
Cotton: In Northern Virginia our competition is the District of Columbia and Maryland, and we have by far the best tax climate among those three, and I think we tend to be optimistic for that reason. I’m not so sure about everybody agreeing that the tax rate in Virginia is just fine right now. We’d all like to see it get lower, but I think our environment up there is, [if] you’re going to start a business, you’re looking at starting it in D.C. … Maryland [or] Virginia. My view is, it’s not really much of a choice. Virginia is by far the most business-friendly of those three governments.
Thomson: What’s not to love about Virginia? When you step back, despite all the good analysis we’re trying to give about the things that maybe aren’t working well, you draw a circle around Virginia about 500 miles, and you’re picking up many, many significant major markets in the U.S. We’re the northernmost right to work state [on the East Coast], so we don’t have some of the issues to deal with that other states do … Overall, whether you’re looking at gas tax rates or at our state income tax rates, we are very competitive.
Einhorn: In addition to our neighboring states, people compare our commonwealth government to the federal government. I think they feel like they’re getting a better bang for their buck in Virginia, even though most people would like it to be more efficient. It seems to be operating more responsibly than the federal government. Therefore, it seems like there’s a lot of attention on lowering my federal taxes. I do believe that the bipartisanship would help us tremendously to get better leverage out of the tax dollars that are being collected today.
Levison: I agree we do have a great state. In our part of the state, we have the opportunities afforded to us by some fantastic public schools. Virginia Tech, Radford University really bring a thriving business climate to an area that would typically otherwise be quite rural and not have as much of a global mindset or many technology initiatives. So, we really benefit even in our corner of the state. There’s a lot going on and a lot to offer businesses.
Thomson: The thing that I would add on taxes is two years ago the Virginia Society of CPAs, working with the legislature, helped reform the way Virginia approaches taxation on international business. If you think about the current tax code, it really is a 20 [to] 30-year-old tax code … VSCPA did a great job helping reform that, but there [are] other elements that maybe need change to be more attractive to the new economy, whether it’s cybersecurity [or] information technology, when we’re dealing with businesses overseas … I think that’s more [of a] forward thinking aspect of taxes as opposed to just, “lower my rate.”
VB:Was there anything that stood out in the survey that we haven’t discussed?
Cotton: The biggest challenge in my business, CPA firm … is human resources. … In addition to a shortage of supply [of workers], we’re seeing the millennial attitude of mobility.
The environment I grew up in — the tradition was you found yourself a career and stayed with that company a long time. I remember when I was in charge of recruiting [when looking at people’s résumés], if they had a history of changing jobs pretty often, I’d discard those. We can’t do that now. Kids today will change jobs every year, and it’s very difficult to compete in that environment. What we’re seeing in the group of firms that we compete against is our people are moving amongst those firms, and it’s a very difficult thing to manage.
One of the things that we’ve done to address that is we began participating in “Best Places to Work” surveys. It was nice to get the awards, but more important was we were learning how we could make our employment environment more favorable. That’s been beneficial, but still we’re seeing a lot of churning of people moving from firm to firm, and I don’t know the solution to that.
Einhorn: We have a different issue when it comes to the talent. Our area struggles to attract quality talent, and I’m not just talking about CPAs. I’m talking about talent in every area because the rest of Virginia and the rest of the East Coast sees us as a Navy town. They see Virginia Beach as a resort, and they see Norfolk as a Navy town. Getting people from outside of the area to come and experience what we have to offer is a real challenge.
Another surprise that I saw in the survey was the fact that so many people responded that they did not know whether the economic revitalization efforts in Southwest Virginia had made a significant progress in the economy. I think that highlights the regionalism that we deal with and the fact that we tend to only focus on our own region. I believe we can help break this partisanship, if as businesspeople, we work more closely together as a state. I think the VSCPA, for example, and also Virginia Business do a very good job of trying to unite us all, but the legislature doesn’t necessarily do a great job of that. Education and cooperation is something that we’re probably in need of.
Levison: That’s the same result that I picked up on. The rest of the state said that they didn’t know about those economic efforts, and in Southwest Virginia people said, “No, the economic revitalization efforts have not been a significant progress in the economy.” What I also thought was interesting is that overall, Southwest Virginia mirrored very closely the same opinions of the rest of the state, which I think is a good thing for that unification and for everyone being on the same page to move forward. It might be more difficult if you saw the people in that region had completely different sets of concerns that were not really on the priority list of other parts of the state, but everyone’s concerns seemed to be pretty closely related to the same top issues and that I think is a positive thing for progress.
Thomson: When we talk about job growth and job creation we tend to think of new businesses coming in … What was encouraging, it’s not a shocker but a little bit of a surprise [to see that] 19 percent said we’re going to increase capital spending, and … 32 percent said they were going to increase the number of people they were hiring. The revitalization of Virginia growth is going to come from our existing businesses, particularly our small businesses, [which] I think VSCPA members and CPAs represent so well. It was encouraging to me to see our clients, our businesses that we touch every day, saying we’re going to increase capital spending, and we’re going to start hiring. If we have a couple of years of that it will be very good for Virginia.
The Port of Virginia has reported its second consecutive profitable year.
The port had operating income of $4.76 million during fiscal year 2016, which ended in June, according to preliminary, unaudited results. Final results are expected to be reported in coming months.
The 2016 financial performance represents a decline of 65 percent from $13.6 million recorded in fiscal year 2015. Nonetheless, two profitable years represent a financial turnaround. The port had reported losses of $120 million over the five years before 2015. Three years ago, in fact, the commonwealth weighed offers to sell the port’s operations.
Over the fiscal year, cargo volume at the port (measured in 20-foot equivalent units or TEUs) rose 2.5 percent to a record 2.57 million.
Rail containers at the port increased 9.7 percent during the fiscal year to 511,096.
In its September issue, Virginia Business looked at the port’s prospects following the recent opening of the expanded Panama Canal.
The long-awaited Battle at Bristol took place Sept. 10 at Bristol Motor Speedway. The converted racetrack attracted 156,990 fans to a game between the University of Tennessee and Virginia Tech.
According to the Guinness Book of World Records, the game — won by Tennessee, 45-24 — broke an attendance record previously set by a 2013 contest between the University of Michigan and Notre Dame in Ann Arbor, Mich.
The magazine looked at Bristol’s preparations for the game in an April community profile.
EASTERN VIRGINIA
German grocer Aldi has purchased property and filed plans to open a store in Gloucester County. The discount chain bought a 1.8-acre site for $1.9 million from Evergreen Development LLC, according to land records. The property is adjacent to the Fox Mill Centre — the county’s largest commercial development — owned by developer Robert Kubicki of Evergreen Development. (Daily Press)
Green Flash Brewing Co., based in San Diego, will open its East Coast craft brewing facility in Virginia Beach on Nov. 13. The $20 million facility will include a 58,000-square-foot tasting room with 30 beers on tap, a beer garden, food trucks, a retail store, private-event room and garden. Upon completion, the company said the production facility will provide freight efficiencies for Green Flash’s beer distribution throughout the East Coast. (VirginiaBusiness.com)
Lipton employees in Suffolk voted in August to form a union in response to what they called unjust working conditions and treatment. The employees demanded an end to the involuntary overtime practices, along with better health care, sick leave and other workplace policies. The workers will negotiate their first union contract with Unilever, Lipton’s parent company. The contract proposal will then be presented to the entire workforce for a vote. The agreement will be effective once ratified by the majority of the employees. (The Suffolk News-Herald)
Virginia Beach-based Sanyal Biotechnology was selected as a top university startup by the National Council of Entrepreneurial Tech Transfer, a Washington, D.C.-based organization consisting of startup officers from research universities. Sanyal, begun at Virginia Commonwealth University, is one of 18 startups from across the country selected to give a presentation before Congress at the council’s DemoDay on Sept. 20, which allowed Sanyal the opportunity to present to investors, says Sanyal CEO Rebecca Caffrey.(Richmond Times-Dispatch)
The International Economic Development Council (IEDC) announced that the Virginia Beach Department of Economic Development has once again been recognized as an Accredited Economic Development Organization (AEDO) — one of 50 in the world. Originally accredited in January 2005, the organization has been reaccredited three times since. The AEDO program is a peer review process that measures economic development organizations against commonly held standards in the profession. (News release)
SHENANDOAH VALLEY
Virginia’s first community solar project will provide energy for more than 200 homes and businesses in the western part of the state. The solar project at the BARC Electric facility in Rockbridge County allows homes and businesses in different communities to get solar power-generated electricity from one place instead of putting panels on their own rooftops. Officials say the project will provide 25 percent of the energy needs for homes and businesses across BARC’s electric system in Rockbridge, Bath, Highland, Augusta and Alleghany counties. (News Leader)
The bicycle tourism industry in the central Shenandoah Valley had a total economic impact of $13.6 million and supported 184 jobs in 2015, according to a study conducted by the Central Shenandoah Planning District Commission and other regional partners. Visitor spending by cyclists had a direct economic impact of approximately $8.6 million that supported 144 jobs. The top sectors impacted by bicycle tourism are restaurants, hotels, motels and retail establishments. Seventy-one percent of visitors stayed overnight during their bicycling trip. (News Leader)
Mary Baldwin College officially changed its name Aug. 31 to Mary Baldwin University. The name change isn’t the only new development at the university. A new master’s degree in business program will be offered in fall 2017, and in spring 2017 the next batch of programs will be added to the Murphy Deming College of Health Sciences, created in 2014 on the school’s new campus in Fishersville. President Pamela Fox also unveiled some “fast track” programs for fall 2017 that will allow high-achieving students to complete degrees in a shorter time frame. (News Leader)
MillerCoors, a joint venture between SABMiller and Molson Coors Brewing Co., announced in August it will invest $60 million to expand its Shenandoah brewery in Rockingham County. The project is expected to create 27 jobs. The company makes Coors Light, Miller Lite, Miller High Life, Coors Banquet, Redd’s and Henry’s Hard Soda. MillerCoors also brews Leinenkugel’s Summer Shandy and Blue Moon Belgian White Ale. Gov. Terry McAuliffe approved a $500,000 performance-based grant from the Virginia Investment Partnership program for the project. (VirginiaBusiness.com)
The Virginia Military Institute Foundation has raised more than $300 million, exceeding its goal by 33 percent. The goal of the fundraising effort, “An Uncommon Purpose: A Glorious Past, A Brilliant Future: The Campaign for VMI,” was $225 million. More than 14,000 donors have participated in the campaign, which included 53 gifts of $1 million or more and two gifts of more than $20 million each. (VirginiaBusiness.com)
SOUTHERN VIRGINIA
The first phase in the creation of the Commonwealth Crossing Business Centre in Henry County is expected to be completed in late October, according to officials. Allyson Rothrock, president of the Harvest Foundation, said the project represents hope and opportunity. “We’ve never had anything close to this,” she said of the 720-acre business center that is designed to attract large-scale industrial projects. (Work It, SoVa)
Local nonprofits that have to handle an unexpected financial crisis may have help through new Agency Emergency Fund grants from the Community Foundation of the Dan River Region. These grants could provide assistance outside the foundation’s normal grant cycle in the case of emergency situations that would have an impact on the nonprofit’s ability to provide services for its clients, Debra Dodson, executive director of the foundation, said. (Danville Register & Bee)
Danville Regional Airport’s Taxiway A will be resurfaced for the first time in 20 years, thanks to a federal grant through the Federal Aviation Administration’s Airport Improvement Program. The $2.4 million grant will pay for milling and resurfacing of the taxiway and replace the lighting system along the taxiway. The FAA recommended the improvements after the taxiway was rated as being in “fair to poor” condition, according to a description of the project in the city’s capital improvements budget. (Danville Register & Bee)
Davenport Energy Inc. announced in August that it had acquired the customers of Lester-Penn Coal & Oil Corp. in Martinsville. Lester-Penn provided fuel oil and other products to homes, businesses and industry in the Martinsville-Henry County community. (Work It, SoVa)
Food Lion planned to close its Martinsville store in late September. The grocery store chain said it decided not to renew the lease for the building it occupies near the intersection of Commonwealth Boulevard and Virginia Avenue. Most — if not all — of the store’s approximately 35 employees would be offered jobs at other area Food Lions, company spokeswoman Christy Phillips-Brown said. She declined to say why the lease was not renewed, citing company policy. (Martinsville Bulletin)
Southern Co., based in Atlanta, said that its subsidiary Southern Power is in the preliminary phase of developing land for a natural-gas generating facility in Pittsylvania County. The company signed a purchase and sale agreement option in June with the Danville-Pittsylvania Regional Industrial Facility Authority (RIFA) for 300 acres of land in Berry Hill Industrial Park. Southern Power owns and operates nine combined-cycle and combustion-turbine natural gas-fueled power plants that generate more than 8,000 megawatts across four states. (VirginiaBusiness.com)
SOUTHWEST VIRGINIA Appalachian Mountain Spirits is expanding its whiskey distillery in Smyth County, a $1.95 million project that is expected to create 13 jobs during the next three years. The company also has committed to buying 3 million pounds of Virginia-grown corn, barley and rye as part of an agreement with the commonwealth. Gov. Terry McAuliffe has approved a $50,000 grant from the Agriculture and Forestry Industries Development Fund to assist with the project, which Smyth County is matching with local funds. (VirginiaBusiness.com)
Nearly four months after announcing Roanoke as the location for its East Coast brewery, Deschutes executives are still holding to their opening date of 2021. But residents might gain a downtown tasting room well before that, founder Gary Fish said during a news conference in August. Opening a tasting room will depend on finding the right location, however. And any Deschutes location opened downtown would serve beer brewed at the company’s brewery in Bend, Ore., Fish said. (The Roanoke Times)
The Virginia Tech Carilion School of Medicine is expected to become a college within Virginia Tech. The university’s board of visitors voted in August to begin a likely two-year process to make the Roanoke medical school its ninth college. The medical school was founded in 2008 as a partnership between Tech and Carilion Clinic, with an independent governing board. (The Roanoke Times)
Virginia Tech will spend $75 million to develop part of its innovation-focused curriculum, complete with new buildings, additional faculty and initiatives such as a caged drone facility near the school’s Duck Pond. The money will go toward providing researchers, faculty and students with tools to develop autonomous vehicles, smart construction techniques, urban planning, drone research and other infrastructure technologies. (The Roanoke Times)
A 333-mile route with 60 attractions that celebrate Southwest Virginia’s cultural and musical heritage brings in about $9.2 million annually and supports 131 jobs in the region, according to a Virginia Tech study. The Crooked Road, founded in 2004, attracts visitors from outside the commonwealth to music events at venues in the region through its marketing and programming. (VirginiaBusiness.com)
NORTHERN VIRGINIA
Reston-based Access National Bank is expanding into Arlington. The bank’s first branch in the county is expected to open by the end of the year in the Courthouse neighborhood at 2300 Wilson Blvd. The building is a former Bank of Georgetown branch. The Arlington branch will become the bank’s seventh regional office. Bank officials said it already caters to a sizeable Arlington clientele. Access National Bank was founded in 1999. (VirginiaBusiness.com)
AES Energy Storage, a subsidiary of Arlington-based AES Corp., has entered into two contracts with San Diego Gas and Electric (SDG&E) for two energy storage arrays totaling 37.5 megawatts. Financial details on the contracts were not disclosed. The contracts involves AES’ Advancion energy storage solution, a battery-based energy storage platform, installed at sites in San Diego County, Calif. AES has been deploying advanced battery-based energy storage onto electric grids since 2008. (VirginiaBusiness.com)
Denver-based data center company CoreSite Realty Corp. plans to greatly expand its presence in Reston, building more than 660,000 square feet of new data center capacity. The company said it may invest $400 million to $500 million in a multi-phase build-out of the Sunrise Technology Park. The company is paying more than $60 million for STP, which is located less than a mile from CoreSite’s existing Reston buildings. CoreSite expects to substantially complete work on the project in the second quarter of 2018. (VirginiaBusiness.com)
Reston-based Leidos Holdings Inc. said in August it has taken on $2.5 billion in debt to finance its purchase of Lockheed Martin Corp.’s Information Systems and Global Solutions business. The two companies merged in August in a deal that created a $10 billion government services company — the largest in the industry. (Washington Business Journal)
McLean-based Tegna Inc. plans to spin off Cars.com, its online automotive marketplace, as a separate publicly traded company. Gracia C. Martore, Tegna’s president and CEO, plans to retire when the spinoff is completed next year. She will be succeeded by Dave Lougee, the president of Tegna Media, which oversees the 46 television stations the company owns or services. (VirginiaBusiness.com)
Herndon-based NRTC plans to acquire Pulse Broadband LLC. Financial details of the transaction were not released. NRTC, the National Rural Telecommunications Council, serves 1,500 electric and telephone members in 48 states. Pulse is based in Chesterfield, Mo. It offers a wide range of fiber services, including financial feasibility modeling, design and engineering, and construction management. The transaction was expected to close in a few weeks when announced in August. (VirginiaBusiness.com)
CENTRAL VIRGINIA Apple Hospitality REIT, a Richmond-based real estate investment trust that owns hotels across the U.S., has completed its merger with sister company Apple REIT Ten. The merger creates a portfolio of 236 hotels mostly under the Marriott and Hilton brands. Apple Hospitality’s stock will continue to trade on the New York Stock Exchange. (Richmond Times-Dispatch)
Lynchburg-based BWX Technologies Inc. has announced that its subsidiary BWXT Canada Ltd. (BWXT Canada) has entered an agreement to acquire GE Hitachi Nuclear Energy Canada Inc. (GEH-C). The terms of the transaction are not being disclosed. GEH-C is a major supplier of fuel, fuel-handling systems, delivery systems and replacement components for CANDU reactors, Canadian-developed, pressurized heavy water reactors used for generating electric power. The deal is expected to be completed, subject to required Canadian regulatory reviews and other closing conditions, during the fourth quarter of 2016. (VirginiaBusiness.com)
A new Richmond-area project aims to boost sales through exports. The goal of the Metro Richmond Exports Initiative is to increase international trade activity by small and medium businesses in the area by 40 percent by 2020. The program will track its progress by monitoring the number of companies exporting for the first time and the number of existing exporters entering new foreign markets. (VirginiaBusiness.com)
Tranlin Inc.’s $2 billion paper manufacturing plant in Chesterfield County is set to be fully operational by 2020, but internal delays have kept the company from drawing the millions in grants the state has awarded. “There are some inner milestones that we still believe we are going to achieve, but it may be at a later date,” said John Stacey, Tranlin Inc.’s senior vice president of marketing and product development. But the facility still is on track to open within the scheduled time frame, Stacey said. (Richmond Times-Dispatch)
UPS said in August it plans to lay off 160 workers from its Richmond-based UPS Freight unit within the next 12 months. In the statement, the company said it is “streamlining support positions” in order “to address needed cost reductions and operating improvements.” Glenn Zaccara, the company’s director of corporate media relations, said in an email that the location also currently has 45 job openings and that employees affected by the layoffs “are being offered an opportunity to apply for those roles.” (Richmond Times-Dispatch)
EASTERN VIRGINIA
The Newport News Shipbuilding division of Huntington Ingalls Industries has promoted Jennifer Dunn to vice president, communications. She was director, communications. (News release)
Virginia Beach-based Marathon Consulting LLC recently added five consultants. Dan Herbert, Charlie Church, and Jonathan Hudson joined as information technology consultants. Tim Christian and Walter Cohn joined as senior business technology consultants. (News release)
Jason McKenzie and Nicole Wood-Sabo have been promoted to members of McPhillips, Roberts and Deans, PLC, Norfolk. McKenzie has more than 12 years of public accounting experience. Wood-Sabo has over 17 years of public accounting experience. (News release)
Charles W. “Wick” Moorman, the retired chairman, CEO and president of Norfolk Southern Corp., has been named president and CEO of Amtrak. (The Virginian-Pilot)
Virginia Beach-based Davis Ad Agency has promoted Sarah Nicosia to vice president and general manager of its Virginia Beach office. Nicosia joined the agency in 2001 as an account executive. She later was named director of account services. (VirginiaBusiness.com)
SHENANDOAH VALLEY Angela Clem was named Woodstock’s town manager on Aug. 17. She has served as the town’s interim town manager since her predecessor, Reid Wodicka, left to become Bedford County’s assistant county administrator Aug. 1. (The Shenandoah Valley-Herald)
Erik D. Curren, CEO of Curren Media Group, was named to the board of trustees of the Virginia Frontier Culture Museum in Staunton. Paul P. Vames, president of V-K Management Co. Inc., was renamed to the board. (News release)
Carol A. Fleming, interim assistant vice provost, outreach & engagement at James Madison University in Harrisonburg, and Carrie H. Chenery, executive director of the Shenandoah Valley Partnership, received a $330,201 grant from the Shenandoah Valley Partnership to provide economic development support services for regional members, prospects, existing businesses and the partnership. (News release)
SOUTHERN VIRGINIA Petrina A. Carter has been named to the board of the Institute for Advanced Learning and Research in Danville. She is senior manager at the Virginia Employment Commission in Danville. (News release)
Ken McBride has joined The Lester Group in Martinsville as director of manufacturing for the fortress division. McBride has 20 years’ experience in management of manufacturing operations. (News release)
L. Michael “Mike” Rowe Jr. has joined CCB Bankshares Inc. as senior vice president-residential market executive for Clarksville and South Boston. Rowe has more than 30 years of community banking experience, with a focus on residential lending for the past 20 years. (VirginiaBusiness.com)
SOUTHWEST VIRGINIA William Dixon has been hired as vice president of business banking, Freedom First Credit Union, Roanoke. He has nearly 30 years of banking experience. (News release)
Brittany Madonna has joined the YMCA of Roanoke Valley as marketing and communications director, and Annie Nichols has been promoted to child care director for Y After School and Y Summer Camp. (The Roanoke Times)
Alison Matthiessen has been named director of communications for the Virginia Tech Carilion School of Medicine, Roanoke. Matthiessen was communications coordinator for the Office of the Executive Vice President and Provost at Virginia Tech. (News release)
Radford University has appointed Katherine “Kitty” McCarthy as the university’s vice president for enrollment management. McCarthy served as the vice president for enrollment management and student affairs at West Virginia State University in Institute, W.Va. (News release)
Debra Meade, retired president and publisher of The Roanoke Times, has been elected to the board of trustees of Hollins University. (The Roanoke Times)
Dr. Kenneth Walker, a Carilion Clinic physician based in Pearisburg, has been named to the state Board of Medicine. (The Roanoke Times)
NORTHERN VIRGINIA Drs. Syed Salman Ali, David C. Giammittorio and Kevin P. O’Connor were reappointed to the state Board of Medicine. Ali is hematologist-oncologist with Fauquier Health in Warrenton; Giammittorio is CEO of The Physician and Midwife Collaborative Practice, which has offices in Northern Virginia. O’Connor is a urologist at The Urology Group, part of Loudoun Medical Group. (News release)
CEB Inc.’s chief executive, Tom Monahan, is stepping down at the Rosslyn-based publicly traded company after more than a decade at the helm. Monahan, who joined CEB’s leadership team in 1996 and was named its chief executive in 2005, will stay through June 2017 or until his successor is named. (Washington Business Journal)
Reston-based information technology solutions provider Network Alliance Inc. has been named Byron K. Patrick, managing director, CPA practice. Patrick is co-founder and former CEO of Simplified Innovations Inc., a Maryland-based technology outsourcing company. (VirginiaBusiness.com)
Germanna Community College President David A. Sam announced he will retire June 30, 2017 after a decade of guiding the college. (Inside NOVA)
Tysons-based CSC has named Lizabeth H. Zlatkus to the company’s board of directors. Zlatkus worked for 28 years at The Hartford Financial Services Group, serving as chief financial officer and chief risk officer, as well as co-president of The Hartford Life Insurance Cos. (VirginiaBusiness.com)
CENTRAL VIRGINIA John C. Asbury will succeed G. William “Billy” Beale as chief executive officer and president of Richmond-based Union Bankshares Corp. and as president and CEO of its Union Bank & Trust subsidiary. Asbury, the former president and CEO of First National Bank of Santa Fe in New Mexico, will become president of the parent company and president and CEO of its bank subsidiary effective Oct. 1 and take on the CEO role of the holding company on Jan. 2. Beale will serve as executive vice chairman of the board and the bank until March 31. (Richmond Times-Dispatch)
Protection 1 has promoted Will Jackson to general manager for its Richmond district. Jackson was operations manager for the office. (VirginiaBusiness.com)
William D. Nash became president and CEO of Goochland County-based CarMax Inc. Sept. 1. He succeeds Thomas J. Folliard, who remains chairman of the board. (Richmond Times-Dispatch)
Henrico County-based Markel Corp. has named its co-CEOs, Thomas S. Gayner and Richard R. Whitt III, to its board of directors. The board also appointed F. Michael Crowley, Markel’s president, as vice chairman. The appointments expand the company’s board to 16 members. (Richmond Times-Dispatch)
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