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Blue Ridge Bank names CEO
G. William “Billy” Beale became CEO of Blue Ridge Bank National Association on Sunday, giving the bank a leader separate from that of its parent company, Charlottesville-based Blue Ridge Bankshares Inc. “I am excited to have the opportunity to join this team at a critical time in the banking industry,” Beale said in a st[...]
VCU Health paid $72.9M to back out of development
VCU Health paid nearly $73 million to back out of a $325 million development deal earlier this year, according to Dr. Marlon Levy, CEO of the health system and Virginia Commonwealth University’s interim senior vice president for health sciences. The project, known as the Clay Street Project, included plans for a medical [...]
Convenience products distributor to double size in Salem
Layman Distributing, a woman-owned wholesale distributor of convenience and grocery store products, will invest $6.8 million to expand in Salem, adding 42 jobs, Gov. Glenn Youngkin announced Friday. The company will relocate to a facility at 2157 Aspersion Drive, doubling its current square footage and operational capacity. Founded in 1948, the company is currently located […]
Agtech startup to invest $25M in Albemarle expansion
Agricultural biotech startup AgroSpheres will invest $25 million to expand in Albemarle County, creating an estimated 50 jobs, Gov. Glenn Youngkin announced Thursday. The company will increase production at its facility at 1180 Seminole Trail and build a research and development and demonstration facility for new products, which will be a pilot plant for a […]
Henrico strip mall, industrial buildings sell for $7.25M
Fernau LeBlanc Investment Partners has sold Wistar Center, a three-building flex industrial and retail portfolio, in Henrico County, to Prudent Growth Partners LLC for $7.25 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced. The portfolio, at 8101-8157 Staples Mill Road, consists of approximately[...]
Sentara Healthcare rebrands as Sentara Health
Sentara Healthcare is rebranding as Sentara Health, the Norfolk-based health system announced Thursday. Additionally, in its health insurance division, Sentara will retire Sentara Health Plans’ subsidiary brands, Optima Health and Virginia Premier, unifying them under the Sentara Health Plans brand by the end of the year. R[...]
GMU biz school receives $50M bequest
George Mason University’s School of Business will be renamed for the late Donald G. Costello, a Loudoun County native and business owner who left the university $50 million in his will, GMU announced last week. The donation is the university’s largest individual gift in its 50-year history. Costello, who died in 2017[...]
Lynchburg transformer manufacturer to add 149 jobs
Industrial power equipment manufacturer Delta Star Inc. will invest $30.2 million to expand its manufacturing operation and headquarters in Lynchburg, creating an estimated 149 jobs, Gov. Glenn Youngkin announced Wednesday. The company will add 80,000 square feet of mobile power transformer manufacturing space to its 300,000-square-foot facility located at 3550 Mayflower Drive and will consolidate […][...]
Virginians bet almost $512M on sports in March
Virginians won $456 million but bet $511.6 million on sports in March, a 9% increase in betting expenditures over March 2022, according to data released Monday by the Virginia Lottery. About $507 million of sports betting revenue came from mobile operators, with the remaining almost $4.59 million coming from casino retail activi[...]
Henrico insurer to create 100 jobs in HQ expansion
Specialty insurer Richmond National Group Inc. will invest $350,000 to expand its Henrico County headquarters, a move expected to create more than 100 jobs, Gov. Glenn Youngkin announced Tuesday. The company, founded in 2021 as a holding company for Richmond National Insurance Co., will add 7,200 square feet of office space to its roughly 10,000-square-foot […]
Richmond baseball stadium deadlines made public
Updated May 1, 6 p.m. According to a now-public development agreement, design work for Richmond’s new baseball stadium would begin this month and construction would start in August 2024 and finish by December 2025, if all goes to plan. The agreement also requires that the Richmond Flying Squirrels sign a stadium lease by J[...]
Baking soda manufacturer to expand in Chesterfield
A New Jersey-based baking soda manufacturer is expanding its Chesterfield County operations — and it won’t require vinegar. Church & Dwight Company Inc. will invest $27 million to expand its Chesterfield County facility at 1851 Touchstone Drive to accommodate a new manufacturing line for a scent-boosting laundry detergent. The effort will create 53 jobs, Gov. […]
