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Appalachian Community Capital to launch Green Bank
Appalachian Community Capital, the Christiansburg-based community development financial institution for the Appalachian Valley, plans to launch the Green Bank for Rural America with a $500 million award from the Environmental Protection Agency, it announced Friday. Focused on financing up to 2,000 new energy projects that could [...]
Va. casino gaming revenues total $59.3M in July
Casino gaming revenues for Virginia’s three casinos totaled $59.3 million in July, according to Virginia Lottery data released Thursday. Also, the $500 million HeadWaters Resort & Casino in Norfolk, which has been in a holding pattern for the past several months, could be moving forward. The Norfolk Architectural Review Bo[...]
Dominion Energy secures new offshore wind lease for $17.7M
A Dominion Energy subsidiary won provisional rights to a 176,505-acre lease area off Virginia Beach’s coast, adjacent to the section of the ocean where the $9.8 billion Coastal Virginia Offshore Wind project is being constructed, the U.S. Department of the Interior announced Wednesday. Virginia Electric and Power Co. bid $[...]
LL Flooring to be delisted from NYSE
Updated Aug. 14 The New York Stock Exchange has informed Henrico County-based LL Flooring Holdings that its common stock will be delisted from the stock exchange and that trading was to be immediately suspended after the company filed for Chapter 11 bankruptcy Sunday, LL Flooring announced Tuesday. In a news release, LL Flooring[...]
Boeing lands $2.56B Air Force contract
Boeing has won a $2.56 billion U.S. Air Force contract for two rapid prototype E-7A airborne early warning and control (AEW&C) Wedgetail aircraft, the Arlington-based Fortune 500 aerospace and defense company announced Friday. The contract modification to a previously awarded undefinitized contract action includes life-cycle[...]
LL Flooring files for bankruptcy
LL Flooring, the Henrico County flooring company previously known as Lumber Liquidators, announced Sunday it has entered Chapter 11 bankruptcy proceedings and is pursuing a sale of its business. Also, according to documents filed with the Securities and Exchange Commission, the company has received a nonbinding letter of intent [...]
Henrico EDA buys $3M golf course, plans $11M renovation
Henrico County’s economic development authority has purchased The Crossings Golf Club for $3 million, and with partners Pros Inc. and the Henrico Sports & Entertainment Authority, it plans to pitch the course as the new home for a PGA Tour Champions golf event held at the Country Club of Virginia. Pros Inc. expects to [...]
Va. Lottery reports record $5.5B in FY24 sales
Virginia Lottery reported a record-breaking $5.5 billion in sales for fiscal 2024 and highest ever profits of $934 million, Gov. Glenn Youngkin announced Wednesday. In fiscal 2023, the state lottery reported $4.6 billion in revenue and $867 million in profits, which set the previous records for the state agency, which opened 3[...]
Glen Allen’s Dynex Capital names co-CEO
Glen Allen’s Dynex Capital has named Smriti Laxman Popenoe its co-CEO, the real estate investment trust announced in July. With more than three decades of experience in capital markets and investing, Popenoe will lead with Byron Boston, who remains chairman and co-CEO. Popenoe also will remain president and chief investment [...]
Solar startup moving into Bedford plant, creating 104 jobs
Solar energy startup Solarix plans to invest $63 million to start a solar module manufacturing facility in eastern Bedford County and create 104 jobs, the company, the Lynchburg Regional Business Alliance and the Bedford County Office of Economic Development announced Thursday. Solarix, which bills itself as a 100% American-ow[...]
Virginia Credit Union-Member One merger approved
Virginia Credit Union’s merger with Roanoke-based Member One Federal Credit Union was finalized Thursday, following a vote by Member One’s customers to approve the deal announced in January. Effective Thursday, Member One becomes a division of VACU “as the organization works toward full integration of its syste[...]
Boeing names Ortberg as new president and CEO
Updated Aug. 1 Boeing’s board of directors announced Wednesday that Robert K. “Kelly” Ortberg will be its next president and CEO effective Aug. 8, succeeding Dave Calhoun, who previously announced his intention to step down after a turbulent, nearly four-year tenure as the Arlington County Fortune 500 aerospace[...]
