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byline: Virginia Business

For the Record – Southern Virginia, May 2013

After a promising start in 2009, ownership of the Advanced Vehicle Research Center was scheduled to change hands after an auction at the end of April. According to Danville Circuit Court documents, BB&T Collateral Services Corp. loaned the company $1.6 million in 2008 and has foreclosed on the loan. The 15,663-square-foot building sits on almost 14 acres at 500 Stinson Drive. The building has 16 office and showroom spaces and five warehouse bays. The tax assessed value of the property is $1.08 million. (Danville Register & Bee)

Danville may be one step closer to building a new industrial park on Gypsum Road — if the second phase of an archaeological evaluation of the site is accepted by the state Department of Historic Research. The site has an old graveyard as well as some building foundations on it that are believed to be remnants of a plantation house built by Thomas Fearn — one of the original trustees of the town of Danville — in the late 1700s. Fearn died in 1805 and his family soon moved to other parts of the country. (Danville Register & Bee)

Danville Community College has become a part of the newly formed Virginia Horseshoe Initiative, a statewide effort encouraging more people to get a college education. The initiative involves 18 community colleges in rural parts of Virginia stretching from the Eastern Shore through Southern and Southwest Virginia and up the Shenandoah Valley — geographically forming a horseshoe. (WorkItSoVa.com)

Danville Regional Medical Center opened the Danville Regional Vein Center to address the needs of men and women with varicose veins. Varicose veins affect half of the people over age 50 and can start earlier, for example, after pregnancy in women. (WorkItSoVa.com)

Huber Engineered Woods of Crystal Hill was named Business of the Year at the Halifax County Chamber of Commerce annual meeting and awards banquet. The Crystal Hill mill opened in 1995. It produces a variety of engineered wood products, such as AdvanTech flooring, sheathing and rim board and Structural Insulated Panels.  (The Gazette-Virginian)

Molliver Vineyards & Winery’s Vidal Blanc wine from Halifax County has been approved by the Commonwealth Quality Alliance (CQA) program. The CQA logo is a seal of approval and denotes which wines are 100 percent grown, produced and bottled in Virginia. The Vidal Blanc wine also received a medal in the 2013 Governor’s Cup competition. (WorkItSoVa.com)

The Southern Virginia Regional Alliance (SVRA), a regional marketing partnership, will run out of funds in June if new sources of money are not found. The alliance markets Southern Virginia to companies and site-selection consultants looking for new locations.  Leigh Cockram, SVRA’s executive director, said she is optimistic the alliance will be able to obtain funds to operate past June. She indicated that the Virginia Tobacco Commission may be approached for another allocation. She did not know how economic development efforts would be affected if the alliance has to dissolve. (Martinsville Bulletin)

PEOPLE – May 2013

EASTERN VIRGINIA

Peter F. Bastone, named president and CEO of Chesapeake Regional Medical Center, Chesapeake. Bastone was chief administrative officer of CHA Health Systems in Los Angeles and Seoul, South Korea. (VirginiaBusiness.com)

Mekbib Gemeda, named vice president of diversity and inclusion, a newly created post at Eastern Virginia Medical School, Norfolk. Gemeda was the assistant dean for diversity affairs and community health and director of the Center for the Health of the African Diaspora at New York University School of Medicine. (News release)

Kim Powers, named CEO, The Peninsula Housing & Builders Association, Newport News. She was the senior account executive for the Tidewater Builders Association. (News release)

William F. Readdy of Norfolk, named to the Virginia Commercial Space Flight Authority board. Readdy is managing partner at Discovery Partners International LLC. (News release)

Karen Remley, named the founding director of the M. Foscue Brock Institute for Community and Global Health at Eastern Virginia Medical School, Norfolk. She resigned as Virginia health commissioner in October, citing political interference in her job during the formulation of regulations governing Virginia’s abortion clinics. (Richmond Times-Dispatch)

W. Taylor Reveley III, president of the College of William & Mary, received the Virginia State Bar Leadership in Education Award. Reveley was honored for his long-standing efforts in the field of legal education. (News release)

Skip Smith, former vice president of business development, W.M. Jordan Co., Newport News, is now vice president of development. (VirginiaBusiness.com)

Deborah Stearns has joined Jones Lang LaSalle as senior vice president. Stearns was a senior vice president at Harvey Lindsay Commercial Real Estate, Norfolk. (VirginiaBusiness.com)

Glenn Thompson, former business development manager, W.M. Jordan Co., Newport News, is now director of business development. (VirginiaBusiness.com)

 

SHENANDOAH VALLEY

Leah Belcher, of Elkton Family Pharmacy, recognized by the Virginia Pharmacist Association as an outstanding young pharmacist. Criteria for the award include community service, Virginia Pharmacists Association activities, contributions to the development of student pharmacists and impact on the profession. (WorkItSoVa.com)

Lori Henry, given the 2012 Employee of the Year award by the First Bank in Strasburg. (Northern Virginia Daily)

The New Market Area Chamber of Commerce has announced its board of directors for 2013. President is Cathy Wittig-Donald; vice president is Dominique Armentrout. The rest of the board is made up of Terri Linski, Tanya Rosenberry, Tom Constable, Susie Hill, Karla Kokkonen, Velma Jordan, Judy DeLaughter and Kathy Boyles. (Northern Virginia Daily)

Jim Smucker, named graduate dean, Eastern Mennonite University, Harrisonburg, effective July 1. Smucker is president of Bird-in-Hand Corp., which oversees a number of hospitality businesses in Pennsylvania’s Dutch country. (Daily News-Record)

 

SOUTHERN VIRGINIA

Dustin Haberer, promoted to sous chef at the Institute for Advanced Learning and Research conference center in Danville. Haberer will oversee operations at MegaBytes in the Cyber Café, as well as the catering department. (WorkItSoVa.com)

Richard T. Hite Jr. of Kenbridge, named to the Virginia Tobacco Board. Hite is the owner and manager of Hite Farm. (News release)

Jaran Lusk, named director of health information management, Danville Regional Medical Center. Lusk was senior program manager at Sidra Medical Center and Research Center in Doha, Qatar. (WorkItSoVa.com)

Brian Mateer of Martinsville, named to the Patrick Henry Community College Board. Mateer is director of Youth Ministries at First United Methodist Church in Martinsville. (News release)

South Boston Mayor Ed Owens, named Business Person of the Year by the Halifax County Chamber of Commerce. He is the owner of the Ed Owens Agency in Halifax.  He is a member of the Virginia Tobacco Indemnification and Community Revitalization Commission and serves on the board of the Southside Business Technology Council. (WorkItSoVa.com)

Leon Towarnicki, named city manager, Martinsville. Towarnicki was Martinsville’s interim city manager. He succeeds Clarence Monday who became Amherst County administrator in January 2012. (Martinsville Bulletin)

 

SOUTHWEST VIRGINIA

Ralph D. Badinelli, professor of business information technology in the Pamplin College of Business at Virginia Tech, named the Ralph Medinger Lenz Professor in Business by the Virginia Tech Board of Visitors. (News release)

Joe Carpenter named vice president of Radford University’s office of university relations. Before coming to Radford, he was managing editor of the U.S. Navy’s internal communications. (News release)

Thomas Hou, professor of electrical and computer engineering at Virginia Tech, is the steering committee chairman of the Institute of Electrical and Electronics Engineers’ Conference on Computer Communications. (The Roanoke Times)

Barry L. Henderson, hired as consultant, Center in the Square, Roanoke, effective June 1.  Henderson will assist in fundraising initiatives, operations and top line revenue growth for Center in the Square. Henderson was president and CEO for SunTrust Western Virginia. (News release)

Richard C. Maxwell III, an attorney with Woods Rogers PLC, Roanoke, has been named a fellow of the American College of Bankruptcy. (News release)

Krystal Thompson, named executive director of Brain Injury Services of SWVA, a nonprofit organization helping brain injury survivors and their families in Southwest Virginia. Thompson was chief operating officer for Commonwealth Catholic Charities, Richmond. (News release)

Lori Thompson, LeClairRyan, Roanoke, elected to the board of governors of the Virginia Bar Association.  (The Roanoke Times)

Danfeng “Daphne” Yao, assistant professor of computer science in the College of Engineering at Virginia Tech, has received a three-year, $450,000 grant from the Office of Naval Research (ONR) for research on cyber security. (News release)

 

CENTRAL VIRGINIA

Former North Dakota Sen. Kent Conrad, named to board of directors, Genworth Financial Inc., Richmond. Conrad was the Democratic chairman of the Senate Budget Committee before retiring in January. He served in the Senate for 26 years. (VirginiaBusiness.com)

Jim Crowder, promoted to executive vice president of finance and accounting at HHHunt, Richmond. He was the company’s vice president of finance and accounting. (News release)

W. Mark Crowell, executive director of U.Va. Innovation and associate vice president for research at the university, received the Association of University Technology Managers’ 2013 Bayh-Dole Award, given in recognition of his efforts to promote intellectual property activities on behalf of the university and nonprofit community. (News release)

Pulmonologist Dr. Nancy E. Dunlap, named interim dean of the University of Virginia School of Medicine. Dunlap has been physician-in-residence at the National Governors Association Center for Best Practices in Washington, D.C. She succeeds Steven T. DeKosky, who announced his resignation in October to teach full time. (Daily Progress)

Melanie Friend, family law attorney at the Richmond firm CowanGates, named the Richmond Bar Association’s 2013 Young Lawyer of the Year. (News release)

Jean Giddens, named dean of the Virginia Commonwealth University School of Nursing, effective June 30. Giddens is professor and executive dean of the College of Nursing at the University of New Mexico. (VirginiaBusiness.com)

Terrence L. Graves, inducted as a fellow of the American College of Trial Lawyers. Graves is a shareholder and group leader of the casualty & coverage litigation group at Sands Anderson PC, Richmond. (News release)

W. Taylor Reveley IV, named president of Longwood University, Farmville, effective June 1.  He is the managing director of the University of Virginia’s Miller Center. His father, W. Taylor Reveley III, is the president of the College of William & Mary, and his grandfather, W. Taylor Reveley II, was president of Hampden-Sydney College from 1963 to 1977. (News release)

Mike Scyphers, promoted to chief information officer at Markel Corp., Glen Allen. Since joining the company in 2009, Scyphers had been the technology lead for Markel Wholesale. (RichmondBizSense.com)

 

NORTHERN VIRGINIA

Cindy Clare, president of Kettler Management in McLean, has been elected secretary of the National Apartment Association. (VirginiaBusiness.com)

Ric Edelman, chairman and CEO of Edelman Financial Services based in Fairfax County, has been named Virginia’s No. 1 financial adviser by Barron’s in its “2013 Top Advisors Rankings by State.” (VirginiaBusiness.com)

Alex Heidt, named senior vice president and manager of Alion Science and Technology’s Acquisition Programs Management Group. Heidt was senior vice president of business development for Harris Corp.’s IT services, Melbourne, Fla. (VirginiaBusiness.com)  

Kevin B. Laurence, named partner, Oblon, Spivak, McClelland, Maier & Neustadt LLP, Alexandria. He was the founder of the patent practice at Portland, Ore.-based Stoel Rives LLP. (VirginiaBusiness.com)

Jonathan Levin, named provost of the University of Mary Washington, Fredericksburg. Currently, he serves as dean of the college of liberal arts at Drew University in Madison, N.J. Levin will begin work on June 25. (News release)

Keith Littlefield, named chief technology officer, TASC Inc., Chantilly. He was chief information officer at the National Geospatial-Intelligence Agency. (News release)

Mitchell Nason, of Stafford, reappointed to the board of trustees of the Virginia Retirement System. Nason is a firefighter for the Prince William Department of Fire and Rescue. (News release)

Ramu Potarazu stepped down as Reston-based Vubiquity’s CEO on April 1. He’s now vice chairman of Vubiquity’s board of directors and venture partner at Columbia Capital. (VirginiaBusiness.com)

Joshua Steele, previously a vice president, promoted to senior vice president, commercial lending, First Virginia Community Bank, Fairfax. (News release)

Steffany Watson, previously a vice president, promoted to senior vice president, treasury management, First Virginia Community Bank, Fairfax.  (News release)

For the Record – Central Virginia, May 2013

Dominion Resources Inc. will transfer about 100 employees of its interstate gas transmission subsidiary in West Virginia and Pennsylvania to its Richmond headquarters. Most of the moves will take place before September, with some pipeline company employees remaining in place through year’s end. Consolidating the white-collar employees in Richmond was based on the demanding business climate facing the company, a spokesman said. (Richmond Times-Dispatch)

Ledbury finished a $10,000 renovation to its 500-square-foot storefront in downtown Richmond. The updated space includes new shelving, lighting and a wall to set it off from the rest of the company’s 4,100-square-foot headquarters. Ledbury co-founder Paul Watson said the upgrade is part of the clothing company’s push to boost its local retail sales after four years in business as mostly an online retailer. (RichmondBizSense.com)

Porter’s Group LLC, a fabricated metal products company based in Bessemer City, N.C., will establish its first Virginia operation in Lynchburg, creating 120 jobs. The company has acquired a manufacturing site in the city, which it will upgrade with an investment of $1.8 million. The plant will produce fabricated metal products, such as safes, and related products and parts. (VirginiaBusiness.com)

Professional Solutions Delivered LLC, or ProSoDel, is expanding in Caroline County. The company is leasing more space in the Ladysmith Business Park, where it currently has its corporate headquarters and plans to add another 10 to 14 employees, doubling the current staff. With the expansion, ProSoDel will occupy about 3,500 square feet in Caroline County.  The staff hired for its new Ladysmith Integration Facility will be in direct support of a government contract, valued at $20 million over three years that will provide unique identification marking for a logistics division of the Marine Corps Systems Command. (VirginiaBusiness.com)

Roses plans to open two discount department stores in the Richmond area this year. One store will take over the space known as The Showplace, a popular exhibition hall in eastern Henrico County. Roses is negotiating for another space in a shopping center on Beulah Road in Chesterfield County. (Richmond Times-Dispatch)

A long-vacant former Circuit City headquarters building is coming back to life with its first tenant in three years. Travelers Insurance inked a deal to occupy 71,800 square feet of Deep Run III in Western Henrico. The 383,000-square-foot building is owned by Markel | Eagle Partners and Diversified Realty Ventures. J.B. Gurley, a principal at Markel | Eagle, said the landlords are in talks with other potential tenants to fill another 55,000 square feet of Deep Run III. (RichmondBizSense.com)

University of Virginia and Virginia Commonwealth University are among six Virginia universities selected to receive grants from the Virginia Innovation Partnership. Created last fall by the U.S. Department of Commerce’s i6 Challenge, the partnership announced $861,086 in awards in its first round of funding. The program is designed to advance early-stage research and connect academic researchers with mentors, corporations and investors to accelerate commercialization of new projects.  (VirginiaBusiness.com)

The U.S. Small Business Administration has opened a new business center in Central Virginia. Women’s Biz, located at the Richmond Economic Development Corp. in Richmond, serves women entrepreneurs in the Richmond and Petersburg area. The center offers counseling, networking events, training, technical assistance and mentoring to women interested in starting and growing their businesses. (VirginiaBusiness.com)

Richmond–based Virginia Farm Bureau Federation has bought the remaining share of the Virginia State Fair from a Tennessee fair operator that had the winning bid in a foreclosure sale last year. The farming advocacy organization had been a 50 percent owner of the fair after partnering with Universal Fairs LLC of Cordova, Tenn., in July. Details of the sale were not disclosed. (Richmond Times-Dispatch)

 

 

 

Economist lowers Virginia sequestration job loss estimate

An influential Virginia economist has revised his forecast on the effects of sequestration, saying that it will cost Virginia fewer jobs than originally expected.

News Stephen Fuller, director of the Center for Regional Analysis at George Mason University, predicts the automatic federal budget cuts that went into effect March 1 will eliminate 154,118 jobs in the Old Dominion. That figure is 26 percent lower than the 207,571 job losses Fuller predicted in a study released last July.

Fuller’s original figure has been widely quoted, including a Virginia Business cover story on sequestration last October and an editor’s column in the April issue.

Fuller’s latest report, released March 27, still shows Virginia and California bearing the brunt of job losses caused by sequestration, 20.4 percent of an expected 1.58 million jobs nationwide. Fuller had earlier predicted U.S. job losses to total 2.14 million.

The new report says sequestration will reduce the nation’s gross domestic product (GDP) this year by 1 percentage point, $158 billion, and decrease personal earnings by $80.5 billion this year.  The original estimates were a $215 billion drop in GDP and a $109.4 billion decline in personal earnings.

The economist’s revised forecast results in part from the delay in implementing sequestration, from Jan. 1 to March 1, caused by Congress’ passage of the American Taxpayer Relief Act at the beginning of the year. In addition to delaying the budget cuts, the law also continued Bush-era tax cuts for taxpayers except those earning more than $400,000 a year. For that group, the top marginal tax rate rose from 35 percent to 39.6 percent.

Fuller’s new report says that the budget cuts that went into effect on March 1 totaled $85.4 billion, less than originally expected. Cuts will be greater in the next fiscal year, $110 billion, the report says.
The revised analysis also takes into account the fact that federal agencies plan to furlough employees rather than terminate them in order to accommodate budget cuts.