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Flying off the glass cliff?
You’ve no doubt heard of the glass ceiling — the barrier above which women couldn’t rise professionally — but have you heard about the glass cliff? It’s not as familiar a term as the ceiling, but the glass cliff is real. It’s what happens when a woman or someone from another marginalized group is put […]
Breaking the rules
For lawyers, time has always been money, which has made the billable hour standard practice for the profession since the 1960s. But with the rise of artificial intelligence, which already can cut the time required to complete rote tasks from days or hours down to seconds, a once-inconceivable event just might come to pass — [&[...]
Making headway
With recent expansions nearly complete, and a new Southwest Virginia port under consideration, it’s been a busy year for the commonwealth’s inland ports. The industrial market from Hampton Roads to Richmond has expanded in terms of industrial space available, says Devon Anders, president of the Harrisonburg-based InterChange[...]
Cashing in
In 2019, a state study forecast that if the General Assembly allowed five casinos to operate in five economically disadvantaged Virginia cities — Bristol, Danville, Norfolk, Portsmouth and Richmond — that one-third of the revenue generated would stem from out-of-state visitors. In other words, if you build it, casino backers[...]
The insiders
The new leadership of The Martin Agency, a nationally prominent Richmond-based ad agency that counts GEICO and UPS among its clients, isn’t so new. Danny Robinson, who has been with the 400-person agency for 20 years and served as chief creative officer for the last three, succeeded Kristen Cavallo as Martin’s CEO this year,[...]
Chips ahoy
Finally, the world is catching up with Virginia Tech’s semiconductor curriculum. Virginia Tech’s College of Engineering started a chip-scale integration major in 2016, but it wasn’t exactly high profile when Sheena Deivasigamani arrived at Virginia Tech as a first-year engineering student in 2019. Chip-scale integration wa[...]
Tazewell indoor salmon farm adjusts course
The $228 million Pure Salmon facility on 200 acres straddling Tazewell and Russell counties has hit a snag with construction delays and is pushing back its expected timeline. Tazewell County Administrator Eric Young says construction progress has not proceeded as anticipated on the Virginia branch of the United Arab Emirates-bas[...]
Roanoke Council approves Evans Spring plan
After months of heated debate, Roanoke City Council greenlit a development plan for Evans Spring, the largest piece of undeveloped land in the city. The plan, approved March 4 by a 4-3 vote, opens the door for potential economic development of 75 acres of the roughly 151-acre tract, city officials say. The recommended developmen[...]
Princess Cruises trades Yorktown stops for Norfolk
On the surface, Princess Cruises’ decision to abandon plans to stop in historic Yorktown in favor of Norfolk would appear to be an economic blow. In reality, it may be only a slight hit, and one many area residents apparently are fine with. Princess announced last year it would make three port calls in Yorktown […]
Top Five May 2024
The top five most-read daily news stories on VirginiaBusiness.com from March 13 to April 12 were led by news that Altria would sell a large portion of its stake in Anheuser-Busch InBev. 1 | Altria plans to sell 35 million Anheuser-Busch InBev shares The Henrico County-based Fortune 500 tobacco manufacturer holds about 197 [...]
Letter from the Publisher
In the wake of the tragic collapse of Baltimore’s Francis Scott Key Bridge, the Port of Virginia stepped up to offer its support and immediately began taking on any cargo needing to be redirected our way. Apparently caused by a power outage aboard the container ship that collided with the Key Bridge, the accident shut [&hellip[...]
Port of Virginia
The Port of Virginia’s economic impact rose significantly in fiscal 2022, the most recent year for which data is available, moving up from $100.1 billion in output sales in 2021 to $124.1 billion, according to a report prepared by William & Mary’s Raymond A. Mason School of Business for the Virginia Port Authority. The p[...]
