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Hubs and spokes
Economic conditions bounced back across many sectors in 2021, but the COVID-19 pandemic still impacted development deals occurring in Virginia. The state saw a great deal of focus on manufacturing and supply chain growth, areas expected to stay busy despite the recent change in state political leadership. In Hampton Roads, many [...]
PAE’s former head named Amentum CEO
John Heller, the former CEO of Falls Church-based contractor PAE Inc., will serve as CEO of Germantown, Maryland-based aerospace defense contractor Amentum Services Inc., which purchased PAE earlier this month. Heller, who led PAE for seven years until March 2021, will take his new post effective March 28, Amentum announced Thur[...]
Walgreens to establish $34.2M fulfillment center in Hanover
Walgreens will invest $34.2 million to establish a micro-fulfillment center in Hanover County, a project expected to create 249 jobs, Gov. Glenn Youngkin announced Friday. The 65,686-square-foot facility will be located at the 185,000-square-foot Atlee Station Logistics Center and will have automated machinery to allow for a fle[...]
Fed still likely to raise rates, despite Russia-Ukraine conflict
Federal Reserve Bank of Richmond President and CEO Thomas Barkin said Thursday that he hopes to bring interest rates up to pre-pandemic levels “relatively quickly,” while noting that it’s hard to predict the future effect of the geopolitical conflict between Russia and Ukraine on the nation’s economy. Spe[...]
HII announces corporate, human resources promotions
Newport News-based Huntington Ingalls Industries, the nation’s largest military shipbuilder, has promoted Edmond Hughes to executive vice president and chief human resources officer, the company announced Thursday. Hughes has served as vice president of human resources and administration contracts at HII’s Ingalls Sh[...]
Arlington cybersecurity firm promotes CEO
Jennifer Tisdale has been promoted to CEO of GRIMM, the Arlington-based cybersecurity firm announced Tuesday. She was previously the firm’s senior principal of cyber-physical systems security. “Having spent the last decade dedicated to the advocacy of cybersecurity research and testing, it is an honor to lead the strateg[...]
Va. hotel revenues down 6.5% from Jan. 2019
Virginia hotel revenues in January were 6.5% below January 2019 levels, according to data released Monday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 4% compared with 2019 levels. The average daily rate (ADR) paid for hotel[...]
VEC reduces backlog by 89%
The Virginia Employment Commission has decreased its backlog by nearly 89%, Gov. Glenn Youngkin announced Monday. The VEC reduced the backlog of employment separation reports from 246,273 to 27,728 and unpaid pending claims from 24,887 to 15,846 claims. “Virginians deserve an unemployment insurance system that is responsive, e[...]
SWVA initiative seeks to attract remote workers
Project Fuse, a regional cooperative initiative to make Southwest Virginia the location of choice for remote employment, launched Friday with the release of a playbook to attract businesses. “The global business community seeks options for both attracting the employees they want and managing their operating costs,” Will Payn[...]
Northrop Grumman secures $252M Marine Corps contract
Falls Church-based Fortune 500 defense contractor Northrop Grumman Corp. landed a $252 million contract to produce and test a handheld precision ground targeting system for the U.S. Marine Corps, the Department of Defense announced Thursday. Under the hybrid, follow-on contract, Northrop Grumman will work on the Next Generation Targeting Handheld System, a lightweight, man-portable system […][...]
AutoZone to build $185M distribution center in New Kent
Auto parts retailer AutoZone Inc. plans to build a $185.2 million warehouse and distribution center in New Kent County, creating 352 jobs, Gov. Glenn Youngkin announced Friday. The 800,000-square-foot facility will serve as the company’s East Coast distribution operation, according to the governor’s office. Based in [...]
Fairfax telecom software provider acquires N.J. firm
Fairfax-based telecommunications tech provider Teoco announced Tuesday it had acquired New Jersey-based software company Software Synergy Inc. Financial terms of the transaction were not disclosed. “As we look to strengthen Teoco’s presence in the North American market, we are proud of our strategic acquisition of SSI to enh[...]
