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Fusion power plant seeks zoning permit in Chesterfield
Commonwealth Fusion Solutions has filed an application with Chesterfield County for a permit to build its proposed 400-megawatt fusion power plant in the county, which would be the world’s first grid-scale commercial fusion power plant.
Serco completes $327M acquisition of NG division
Herndon tech and management contractor Serco announced Tuesday that it has completed its $327 million acquisition of Northrop Grumman’s mission training and satellite ground network communications software business, also known as MT&S.
Iridium to invest $13M to relocate Tysons HQ, add 117 jobs
Tysons-based global satellite communications company Iridium Communications will invest more than $13 million to expand its headquarters in Fairfax County and create 117 jobs, Gov. Glenn Youngkin announced Tuesday.
RTX subsidiary secures $580M Navy contract
Raytheon, a subsidiary of Arlington County-based Fortune 500 aerospace and defense contractor RTX, has received a $580.58 million U.S. Navy contract, the Defense Department announced May 15.
Sumitomo Drive Technologies to invest $9.3M to automate Chesapeake warehouse
The Virginia Economic Development Partnership announced last week that global power transmission manufacturer Sumitomo Drive Technologies will invest $9.3 million to automate a warehouse and distribution center in Chesapeake.
Chesapeake Planning Commission recommends against data center
The Chesapeake Planning Commission voted 6-1 Wednesday night to recommend denial of a rezoning for a 350,000 square-foot data center in the Great Bridge area of Chesapeake after hundreds of residents passionately opposed the project.
Virginia tightens noncompete rules for more workers
Virginia's new law bans noncompete agreements for non-exempt employees, expanding protections for more workers starting July 1, 2025.
QualiChem to invest $9M in Salem expansion
Salem-based metalworking fluids manufacturer QualiChem will invest $9 million to expand its operations with a new 48,550 square-foot facility and will create 12 jobs, according to a May 13 announcement.
Vaughan-Bassett sees strong domestic demand despite China tariff easing
Doug Bassett, president of Galax-based Vaughan-Bassett Furniture, said the recent developments and the ongoing uncertainty around trade are having a positive impact on the company’s business because it lacks much direct exposure to China in their supply chain.
ServicePower acquires French tech company
McLean-based field service management software company ServicePower announced last week it had acquired France-based technology company Inveniam.
Virginia unemployment claims rise amid federal layoffs
Virginia jobless claims rose in early May, with experts citing federal spending cuts, tariffs and contract reductions as key factors in the surge.
Port of Virginia CEO expects decline in Chinese imports over Trump’s trade war
Virginia Port Authority Executive Director and CEO Stephen A. Edwards said Thursday at this year's State of the Port address that President Donald Trump's tariffs are causing significant uncertainty in the port and trade sector.
