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U.Va. Foundation names chief financial officer
The University of Virginia Foundation announced Monday that Brad Butler has been promoted to chief financial officer. Established in 1986, the foundation provides real estate, financial and administrative services to U.Va. Butler joined the organization in 1997 and has served as controller for the past 10 years. He replaces Pat [...]
Leonardo DRS lands $120M Navy contract
Arlington-based defense contractor Leonardo DRS Inc. announced Monday it has won a $120 million U.S. Navy contract to provide engineering design and test software for aircraft protection systems. The contract was awarded through the U.S. Naval Air Systems Command, and the project will be completed on the AN/AAQ-45 Distributed Aperture Infrared Countermeasure (DAIRCM). The DAIRCM […]
Ex-CommuniClique CEO sentenced for money laundering, fraud
The founder and former CEO of Reston-based CommuniClique on Wednesday was sentenced to more than 12 years in prison in an Alexandria federal court for money laundering and fraud that caused losses of $25 million to investors, according to the U.S. Attorney’s Office for the Eastern District of Virginia. “Andrew B. Powers stole $25 million […]
Montreal investment firm buys Herndon software company
Montreal-based software company investor Valsoft Corp. announced Thursday it will acquire Herndon-based AllTrust Networks, which provides check cashing software. A transaction amount was not disclosed. “We are proud of what we’ve accomplished and want to continue in that direction within Valsoft,” AllTrust CEO Karl Lewis said in a statement. “We have invested significantly in the […][...]
Richmond affordable housing complex sells for $4.8M
An affordable housing apartment complex in Richmond has sold for $4.8 million, commercial real estate investment firm Greysteel announced Monday. The McGuire Park Apartments were built in 1945 and redeveloped in the early 2000s through the Low Income Housing Tax Credit program. Richmond Area Housing purchased the 80-unit compl[...]
Roanoke airport commission buys 17 acres for $2M+
The Roanoke Regional Airport Commission, which owns the Roanoke-Blacksburg Regional Airport, has purchased 17 acres of undeveloped land surrounding the airport for $2.25 million, Roanoke-based Poe & Cronk Real Estate Group announced Tuesday. The sale includes 3.7 acres at the intersection of Municipal and Aviation Drive, 4.6 acres at the intersection of Thirlane and Tom […]
K12 Inc. to hire 1,300 online educators during pandemic
Herndon-based online education provider K12 Inc. announced Wednesday it plans to hire more than 1,300 educators for the 2020 through 2021 school year, in light of a massive push to move education online during the pandemic. Across Virginia, schools have been making decisions regarding reopening in the fall, with some already opting for full online […]
Fairfax adds $20M to small business relief fund
The Fairfax County Board of Supervisors announced Wednesday it has directed an additional $20 million in funding to its Fairfax Relief Initiative to Support Employers (RISE) relief program — bringing its total funding to $46 million aimed at helping small businesses and nonprofits during the pandemic. The funding comes from the federal Coronavirus Aid, Relief […]
Va. first state to adopt statewide emergency workplace safety measures
Virginia is the first state to adopt statewide emergency workplace safety measures, Gov. Ralph Northam announced Wednesday. “Workers should not have to sacrifice their health and safety to earn a living, especially during an ongoing global pandemic,” Northam said in a statement. “In the face of federal inaction, Virginia has stepped up to protect workers […]
Va. hotel revenue declines worsen
Hotel revenue declines have worsened during the past week, despite the state operating under Phase Three of Gov. Ralph Northam’s “Forward Virginia” plan, which has loosened some gathering and hospitality restrictions. Hotel revenues and rooms sold declined in every major market in Virginia, compared with the same time frame last year, according to new data […]
Va. Beach manufacturing company investing $15.8M in expansion
Virginia Beach-based Acoustical Sheetmetal Co. (ASC) will invest $15.8 million to expand its operations, adding a 100,000- square-foot facility and creating 200 jobs, Gov. Ralph Northam announced Wednesday. ASC manufactures sound-reducing and weather-protective enclosures for onsite power generation equipment, such as control rooms, house generators, pumps, compressors, switchgear and HVAC equipment. “Advanced manufacturing contin[...]
Virginia Space launches rocket for first U.S. Space Force mission
The Minotaur IV rocket, carrying a classified payload for the National Reconnaissance Office (NRO), launched its first U.S. Space Force (USSF) mission from the Virginia Commercial Space Flight Authority’s (Virginia Space) Mid-Atlantic Regional Spaceport at NASA’s Wallops Flight Facility in Eastern Virginia, Gov. Ralph Northam announced Wednesday. “The Mid-Atlantic Regional Spaceport continues to serve the […][...]
