Sign In
Free Newsletter
Roanoke/New River Valley Big Deal: Banking on Roanoke
When Roanoke County economic development officials pitched Wells Fargo on expanding its customer support center operation in the county, they emphasized how well they’d taken care of the nation’s fourth-largest bank previously and how they would continue to do so. The pitch worked. Now the bank’s $87 million expansion will[...]
Economic Development: Keep on keeping on
In 2023, Virginia racked up another year of economic development wins in the manufacturing sector. Meanwhile, Gov. Glenn Youngkin continued his push toward producing more shovel-ready industrial sites in the state, one of his key priorities since taking office in January 2022. In November 2023, the U.S. Department of Energy anno[...]
Amentum secures $591.6M Navy contract
Chantilly-based federal contractor Amentum Services has won a $591.6 million contract from the U.S. Naval Sea Systems Command (NAVSEA) to support eligible allied naval forces, the company announced Tuesday. Under the contract from the NAVSEA International Fleet Support Program Office, Amentum will provide life-cycle support and [...]
Charlottesville’s Astraea acquired by Fla. satellite company
Astraea, a Charlottesville-based geospatial analytics firm, has been acquired by Nuview, a Florida-based company developing a satellite imaging constellation, the companies announced Tuesday. Financial terms of the deal were not available. Founded as a for-profit benefit corporation in 2016, Astraea applies data science and artificial intelligence to analyze imaging and sensor data gathered from Earth-observing […][...]
Former Va. ABC chief joins Hunton Andrews Kurth
Travis Hill, former CEO of the Virginia Alcoholic Beverage Control Authority and former Virginia deputy secretary of agriculture and forestry, has joined Richmond-based law firm Hunton Andrews Kurth, Virginia’s second-largest law firm announced Tuesday. Hill is a counsel for the firm’s Global Economic Development, Co[...]
Lawmakers swat down bill to increase THC level in industrial hemp
RICHMOND, Va. — Industrial hemp farmers were disappointed to see a measure killed in the House that would have increased the percentage of THC allowed in hemp grown for fiber and grain cultivation. Del. Nicholas Freitas, R-Culpeper, introduced House Bill 1485 with Del. Tony Wilt, R-Harrisonburg, as a co-sponsor. Legislators vo[...]
Atlantic Union acquisition of American National approved
Richmond-based Atlantic Union Bank’s parent company announced Monday that the Federal Reserve’s Board of Governors has approved its acquisition of Danville-based American National Bankshares, holding company of American National Bank and Trust. The Fed’s signoff was the last regulatory approval needed for the m[...]
United Way of SWVA spins off workforce programs
The United Way of Southwest Virginia is spinning off its workforce development programs by establishing a new nonprofit, EO, to oversee them, UWSWVA announced Feb. 20. EO, which stands for Endless Opportunity, is also Latin for “go.” The new nonprofit will manage what has been the UWSWVA’s $10 million portfolio of [...]
Lawmakers signal more support for electric vehicles, charging network
RICHMOND, Va. — Lawmakers advanced legislation to expand electric vehicle infrastructure throughout the state, which could help meet a looming mandate that sales of new gas-powered vehicles be phased out by 2035. More infrastructure, such as electric chargers, is needed to meet the deadline and growing EV demand. Del. Richard [...]
Va. college sports betting proposal off the books for another year
RICHMOND, Va. — Lawmakers struck out again with a proposal to allow betting on Virginia college sports teams. Virginia law since 2021 has allowed sports betting through casinos and online sports books like FanDuel and BetMGM, with the exception of wagers on state youth and college sports. Some legislators have gone to bat to c[...]
Norfolk looks to renovate Scope, Chrysler Hall instead of building new arena
Norfolk no longer plans to build a new arena after Military Circle Mall is torn down, and instead is seriously considering renovating two city-owned venues downtown: the 53-year-old, 10,000-seat Scope Arena and the nearby 52-year-old Chrysler Hall, a 2,500-seat theater. “The participation of the public dollar that we would nee[...]
Dominion to sell 50% interest in Va. Beach offshore wind farm for $3B
Dominion Energy announced Thursday it has reached an agreement with investment firm Stonepeak to sell a 50% noncontrolling stake in the Coastal Virginia Offshore Wind commercial project off the Virginia Beach coast for nearly $3 billion. If the sale is approved by the Virginia State Corporation Commission and the North Carolina [...]
