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HII division awarded $182M Air Force contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division was awarded a five-year, $182 million task order to provide logistics support for U.S. Air Force F-16 pilot training devices, HII announced Thursday. The contract involves HII and subcontractor Trident Military Systems performing engineering maintena[...]
Skanska completes offshore wind staging project at Port of Virginia
New York-based construction company Skanska announced Thursday that it has completed a $223 million redevelopment project for the Virginia Port Authority, upgrading 72 acres of Portsmouth Marine Terminal and 1,500 feet of wharf that now serves as an offshore wind staging port. Richmond-based Dominion Energy will use the terminal[...]
Blackstone completes Jersey Mike’s Subs acquisition
A spokesperson for Manasquan, New Jersey-based sandwich chain Jersey Mike’s Subs told NJBIZ that Blackstone completed its acquisition of a majority stake in the company Jan. 16. They added the terms of the deal remain unchanged from the private equity behemoth’s November 2024 announcement. Blackstone did not immediat[...]
Metal fabrication company expanding Virginia headquarters
Virginia Gov. Glenn Youngkin announced Tuesday that service disabled- and veteran-owned metal fabrication company TST Fab & Machine is investing $3 million to expand its existing Norfolk headquarters, with plans to create 56 jobs. Headquartered at 1060 W. 27th Street in Norfolk, the company fabricates sheet metal and manufac[...]
Defense optics manufacturer to open Virginia Beach facility
Vidarr, which makes night vision goggles and other defense optical equipment, will invest $2.69 million over the next three years to open a manufacturing facility in Virginia Beach, a project estimated to create 40 jobs, Gov. Glenn Youngkin announced Friday. The New Hampshire company’s manufacturing facility is moving into[...]
Sheet metal plant begins construction in Frederick
Chantilly-based sheet metal products manufacturer ZM Sheet Metal plans to relocate its Frederick County operations next year into a new 160,000-square-foot industrial building in Stonewall Industrial Park. ZM Sheet Metal, which specializes in services for HVAC manufacturers and ductwork, currently operates a 100,000-square-foot [...]
Financial Services: Federal policy, tariffs create economic uncertainty
Economists around the state are still speaking positively about Virginia’s economy — but there’s an elephant in the room. The University of Virginia’s Weldon Cooper Center for Public Service expects the state’s gross domestic product will increase 2.4% this year, up from 1.9% anticipated for the nation [...]
