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Va. hotels expect $1.5B loss in 2021 biz travel
The Virginia hotel industry expects to take a $1.5 billion loss this year stemming from sharply reduced business travel — 63.5% below pre-pandemic revenue levels, according to projections released Wednesday by the American Hotel & Lodging Association. Business travel is expected to generate about $864.5 million for hotels [...]
Service Center Metals to expand, add 94 jobs
Prince George County-based aluminum extrusions manufacturer Service Center Metals will spend $101.7 million to build two more facilities in the county, projects expected to create 94 jobs, Gov. Ralph Northam announced Tuesday. Service Center Metals will build an aluminum extrusion plant and a compact remelt plant in Crosspoint C[...]
Booz Allen acquires Fredericksburg-based Tracepoint
Fortune 500 global management consultant Booz Allen Hamilton Inc. has acquired Tracepoint, a Fredericksburg-based digital forensics and incident response (DFIR) company, Booz Allen announced Monday. Financial terms of the agreement were not disclosed. Baton-Rouge based Plexos Group LLC, Tracepoint CEO Chris Salsberry, Brett Anderson and Rob Driscoll co-founded Tracepoint in December 2019. Tracepoint provides DFIR, […][...]
EarthLink to create 285 jobs in Norton
Atlanta-based internet service provider EarthLink is spending $5.4 million to build a customer support center in Norton, a project expected to create 285 jobs, InvestSWVA and Gov. Ralph Northam announced Tuesday. As part of moving its customer service operations from overseas to the U.S., EarthLink will build a 30,000-square-foo[...]
Aery Aviation to add 211 jobs, expand Newport News HQ
Newport News-based defense contractor Aery Aviation LLC will add 211 jobs with the $15.3 million expansion of its headquarters in Newport News, Gov. Ralph Northam announced Tuesday. The aviation company will build a 60,000 square-foot hangar with access to the Newport News/Williamsburg International Airport runway and an engineering technology center to provide maintenance and modification […][...]
U.Va. Cancer Center earns highest level in National Cancer Institute designations
The National Cancer Institute (NCI) at the National Institutes of Health awarded the University of Virginia Cancer Center a Comprehensive Cancer Center designation that will be effective Feb. 1, 2022, making it the 52nd program in the nation to currently hold the designation and the only one in Virginia. “This achievement is exemplary of the […]
43 Va. schools make U.S. News and World Report’s 2022 list
Forty-three Virginia schools ranked on the U.S. News and World Report’s 2022 best lists of more than 600 universities and liberal arts colleges in the country, released Monday. The University of Virginia ranked No. 25 in national universities, tying with Carnegie Mellon University and moving one spot up from its rank in 2021. [...]
Genworth launches IPO for mortgage insurance subsidiary
Nearly five months after it was first announced, Henrico County-based Fortune 500 insurer Genworth Financial Inc. on Monday launched an initial public offering for its private mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc. Genworth Holdings Inc. (GHI), a wholly owned subsidiary of Genworth Financial, is offering 13.31 million shares of common stock in […]
TransUnion to acquire majority of Neustar for $3.1B
Chicago-based consumer credit reporting agency TransUnion has signed a definitive agreement to acquire Reston-based identity management tech company Neustar Inc.’s marketing, fraud and communications businesses for $3.1 billion in cash. The transaction is expected to close in the fourth quarter. The Neustar acquisition is expected to generate approximately $575 million in revenue and $115 million […][...]
State awards $8.85M to redevelop SWVA abandoned mine sites
The Virginia Abandoned Mine Land Economic Revitalization program intends to award funds to eight economic development projects across Southwest Virginia, Gov. Ralph Northam and U.S. Rep. Morgan Griffith, R-Salem, announced Friday. The Virginia Department of Mines, Minerals and Energy, which will be renamed the Virginia Department of Energy on Oct. 1, administers the program. The […]
Virginia Tech Transportation Institute taps new executive director
Zachary Doerzaph will become the next executive director of the Virginia Tech Transportation Institute, the university’s largest research institute, effective Oct. 1. “Zac Doerzaph is a nationally recognized transportation researcher with extensive leadership experience in large team projects from different sponsors,” Virg[...]
Herndon’s BlackSky goes public after closing SPAC deal
Herndon- and Seattle-based geospatial intelligence and global monitoring company BlackSky Technology Inc. debuted on the New York Stock Exchange Friday after closing a SPAC merger originally announced in February. As of 4:09 p.m. Friday, BlackSky shares were trading at $10.98. Prior to Thursday’s merger with Philadelphia-b[...]
