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State directs $30M to health care providers struggling from pandemic
Amid the COVID-19 public health crisis, Gov. Ralph Northam on Tuesday approved an estimated $30 million in emergency support for primary care doctors, pediatricians and other health care providers who offer general health care services to Virginia Medicaid members, Virginia Department of Medical Assistance Services (DMAS) announced Tuesday. “By taking action to support these frontline […]
Virginia Employment Commission closes HQ due to COVID-19
The Virginia Employment Commission is temporarily closing its Richmond headquarters office after the fourth VEC employee in three months has tested positive for COVID-19, the VEC announced Tuesday. The closure affects 350 employees who work out of the Richmond office. VEC call centers and district offices have not been affected and will continue to process […]
VCU, UCLA research could lead to better computer memory storage
Researchers at Virginia Commonwealth University and the University of California, Los Angeles (UCLA), released research findings Tuesday that could lead to more energy efficient memory storage for computers and other electronic devices. Magnets are used for computer memory due to their “up” or “down” polarity. The magnet[...]
Two Va. lawyers plead guilty in $200M extortion plot
Two Virginia lawyers have pleaded guilty to an extortion plot targeting a multinational chemicals company with demands for $200 million in “consulting fees,” according to a U.S. Department of Justice news release. Lawyers Timothy Litzenburg of Charlottesville, and Daniel Kincheloe of Glen Allen, both pleaded guilty June 19 in Charlottesville federal court. They face up […]
Hershey announces $135M Augusta County expansion
The Hershey Co. will invest $135 million to expand its manufacturing operation in Augusta County, Gov. Ralph Northam announced Tuesday. The 90,000-square-foot expansion of the Stuarts Draft facility will create 110 jobs. Hershey Chocolate of Virginia Inc. has operated in Augusta County for more than 30 years, employing more than[...]
Genworth Financial acquisition delayed again
The $2.7 billion acquisition of Henrico County-based Genworth Financial Inc. by China-based Oceanwide Holdings Group Co. Ltd. has been postponed — yet again — the companies announced Tuesday. The Virginia State Corporation Commission’s Bureau of Insurance reapproved the merger, and the companies agreed to a 15th waiver and agreement to each party’s right to terminate […]
Community colleges, businesses partner to get Virginians back to work
The Virginia Ready Initiative (VA Ready) announced Monday a program that will provide stipends for unemployed Virginians to attend community college programs in an effort to find new industry jobs and overcome coronavirus-related economic hardships. “We have people who need work and companies who need employees, so Virginia’s community colleges and employers are coming together […][...]
Dominion debuts first offshore wind farm in U.S. federal waters
After nearly a decade of planning, Richmond-based Dominion Energy Inc. is on the verge of harnessing offshore wind power following the installation this month of two turbines off the coast of Virginia Beach. Standing approximately 600 feet tall, the 12-megawatt turbines are the cornerstone of Dominion’s $300 million Coasta[...]
Lumber company to invest $11M in Caroline County
Gatesville, North Carolina-based lumber company Ashton Lewis Lumber Co. will invest $11 million to establish a specialty Southern yellow pine sawmill in Ruther Glen (part of Caroline County), Gov. Ralph Northam announced Friday. The company has also committed to sourcing 90% of its pine lumber purchases from Virginia forestland owners as part of the investment. […]
‘Our chance to restart and reinvent’
As part of its COVID-19 economic recovery initiative Project Rebound, the Charlottesville Regional Chamber of Commerce on Thursday released a blueprint outlining recovery action steps for the business community. Produced by Big Four accounting firm KPMG LLP, the “Blueprint for Economic Resiliency and Reinvention in the Great[...]
Loudoun County funds 400 additional small businesses
Loudoun County Economic Development on Tuesday randomly selected 400 local small businesses to each receive $5,000 COVID-19 Business Interruption Fund grants, totaling $2 million. The funding was allocated from the $36.1 million in federal funding to Loudoun County from the Coronavirus Aid, Relief and Economic Security (CARES) A[...]
Reston security firm acquired by French company
Reston-based managed security firm Paladion will be acquired by Bezons, France-based information technology company Atos. A transaction amount was not disclosed. “We found with Paladion a mature team and advanced technology built to deliver outcomes and reduce customers risks,” Pierre Barnabé, Atos senior executive vice president and head of big data and cybersecurity, said in […]
