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State tax collection revenue fell 26.2% in April
State revenue from tax collections fell 26.2% in April, Gov. Ralph Northam announced Thursday. This is primarily due to tax deadline extensions for individual and corporate income taxes, which were extended until June 1 due to the COVID-19 pandemic. “April tax receipts are consistent with our estimate of a $1 billion reduction in the fourth […]
Center for Innovative Technology campus sells for $47.35M
The Center for Innovative Technology (CIT) office building complex in Herndon has sold for $47.35 million, Gov. Ralph Northam announced Thursday. The Virginia Department of General Services (DGS) sold the property Thursday to affiliates of Chicago-based Origami Capital Partners LLC and Timberline Real Estate Partners in a tran[...]
Vienna-based OnLocation Inc. acquired by KeyLogic Systems
Vienna-based OnLocation Inc. has been acquired by KeyLogic Systems Inc., a subsidiary of McLean-based IIA Technologies Corp., the companies announced Wednesday. Financial terms of the transaction were not released. KeyLogic Systems is a Morgantown, West Virginia-based company that provides energy, data and power grid services to government agencies. OnLocation is an information and analytics company […][...]
Alphabet invests in Herndon cybersecurity startup
Herndon-based cybersecurity startup Expel announced Wednesday it received $50 million in Series D Round venture capital funding. CapitalG, the growth fund of Google LLC’s parent company Alphabet Inc., led the round. CapitalG General Partner Gene Frantz will also join Expel’s board of directors. Battery Ventures, Greycroft, Index Ventures, Paladin Capital Group and Scale Venture Partners […][...]
U.Va. research to inform COVID-19 drug treatment
The University of Virginia School of Medicine announced Tuesday that results from a 2019 U.Va. study are being used to inform a national study looking into the effectiveness of the antidepressant medication fluvoxamine as a potential treatment for COVID-19. Researchers at Washington University School of Medicine in St. Louis say the drug may prevent dangerous […]
Excella wins $20B federal contract for IT services
Arlington-based software and information technology management company Excella announced Wednesday it was awarded a contract worth up to $20 billion from the National Institutes of Health Information Technology Acquisition and Assessment Center (NITAAC). “We pride ourselves on our industry-leading expertise in modernizing IT across the federal government,” Excella co-founder and CEO Burton White said in […][...]
Reston IT company emerges from bankruptcy with new CEO
Reston-based IT infrastructure company Internap Corp. (INAP) announced Tuesday it has emerged from Chapter 11 bankruptcy protection with a new CEO and $300 million in liquidity. The company originally filed for bankruptcy protection March 16. “When we began the restructuring process, we did so with a clear objective of strengthening our capital structure and best […]
Hotel Roanoke reveals $3.9M renovation plans
The Hotel Roanoke & Conference Center, Curio Collection by Hilton, announced Monday its $3.9 million plans to renovate The Pine Room Pub and the Palm Court Lobby. “The renovation will build upon the hotel’s premier four diamond status as a destination, dining and meeting facility in Virginia’s Blue Ridge and wi[...]
Veterans affordable housing complex coming to Arlington
Arlington Partnership for Affordable Housing (APAH) has purchased the former Arlington American Legion Post 139 building for $8.8 million to construct apartment units and a new veterans programming center, Toronto, Canada-based real estate company Avison Young Inc. announced Monday. The Arlington chapter of the American Legion[...]
Loudoun County disperses $1.4M to 201 small businesses
The Loudoun County Department of Economic Development announced Friday it had dispersed approximately $1.4 million from the COVID-19 Business Interruption Fund to 201 small local businesses. The Loudoun County Board of Supervisors and the Loudoun County Economic Development Authority (EDA) established the fund. The board of supe[...]
D.C./Va./Md. COVID-19 task force forms for economic strategy
Connected DMV, a regional nonprofit collaboration in Northern Virginia, Washington D.C. and Maryland, announced Thursday it has formed a 45-person COVID-19 Strategic Renewal Task Force to make formal recommendations for addressing short-term and long-term COVID-19-related economic recovery. Founded in 2019, Connected DMV focuses on economic development in Virginia, Washington, D.C., and Maryland. The task force […][...]
Floyd County EDA receives $2.3M federal grant for growth center
The Floyd County Economic Development Authority announced this week it has received a $2.3 million grant from the U.S. Economic Development Administration to construct the first building for the Floyd Growth Center, a shared space in the Floyd Regional Commerce Center for small industrial companies. Different from a small business incubator, the center will allow […]
