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Hampton Roads organizations merge to form new roundtable
Two Hampton Roads regional economic development organizations are merging to establish the Hampton Roads Executive Roundtable, with the goal of unifying their efforts. The new organization will combine Hampton Roads Business Roundtable, established in 2012, and Reinvent Hampton Roads, established in 2016, with the primary missio[...]
Innovation, capital key to rural growth, Barkin and Warner say
There’s hope for economic growth in rural areas despite their challenges, Federal Reserve Bank of Richmond President and CEO Tom Barkin and U.S. Sen. Mark Warner said Wednesday during the Fed’s 2023 Investing in Rural America conference in Roanoke. Rural areas could overcome economic development challenges, particul[...]
Squirrels president is worried over ballpark timeline
The Richmond Flying Squirrels are worried that a new stadium may not be ready by April 2025 as needed to meet new Major League Baseball regulations, according to the Minor League Baseball team’s president and managing partner, Lou DiBella. In a statement Tuesday, DiBella said that there has been “very little progress[...]
HII announces more than $1.8B in contracts
Newport News-based Huntington Ingalls Industries Inc. on Tuesday announced more than $1.8 billion in contracts awarded to its mission technologies and shipbuilding divisions. The company’s McLean-based Mission Technologies was awarded a $1.3 billion U.S. African Command Personnel Recovery Enterprise Services and Solutions [...]
German manufacturer to add 100+ jobs in Chesterfield
Germany-based Weidmüller Group will invest $16.4 million to expand its operations in Chesterfield County, creating more than 100 full-time jobs, Gov. Glenn Youngkin announced Tuesday. Weidmüller Group provides smart industrial connectivity products and solutions that connect and automate electrical power and signaling for comp[...]
Lighthouse Labs names new managing director
Art Espey will be the new managing director of Richmond-based Lighthouse Labs, beginning April 17, replacing Paul Nolde, who is leaving to lead 757 Collab and 757 Angels in Hampton Roads. Lighthouse Labs, launched in 2012, is an equity-free, early-stage startup accelerator. Espey previously served as vice chair of Lighthouse Lab[...]
Former auto dealership property in Va. Beach sells
A former auto dealership property in Virginia Beach has a new owner. Best Buy Wheels purchased a 3,904-square-foot former auto dealership from BT Associates LLC for $1.5 million to operate as a second location for its auto dealership. The property, located at 1305 Oceana Blvd., was formerly Bay Shore Used Auto Sales. Clay Wi[...]
$35.8M Newport News affordable housing redevelopment begins
The BLVD Group has acquired and started renovations on the Aqua Vista Apartments in Newport News, the Los Angeles- and Dallas-based company announced Tuesday. BLVD expects development costs, including the property purchase and “soft costs” like engineering and design, to total more than $35.8 million. A BLVD-affiliat[...]
Hampton Roads consortium opens research HQ
The Hampton Roads Biomedical Research Consortium opened its headquarters at Old Dominion University’s Tri-Cities Center in Suffolk Friday. The consortium is a partnership between ODU, Norfolk State University, Eastern Virginia Medical School and Sentara Healthcare Inc., and was founded in June 2020. Its goal is to address [...]
Lighthouse Labs exec jumps to 757 Angels, 757 Collab
Paul Nolde, executive managing director of Lighthouse Labs in Richmond, will be the new managing director of Norfolk-based 757 Angels and 757 Collab. He replaces Monique Adams, the current executive director of 757 Angels and managing director of 757 Collab, who will leave the organizations this summer. Nolde starts his new role[...]
Bowman acquires Maryland engineering firm
Reston-based Bowman Consulting Group Ltd. has acquired Rockville, Maryland-based Richter & Associates, a dry utility infrastructure engineering firm, the company announced Tuesday. Terms of the deal were not disclosed. Richter has 28 employees. The company works with private and public clients as well as utilities to design, develop and implement natural gas, electric and telecommunications […][...]
Retail/office collection in Richmond sells for $6.3M
A combined 15,994 square feet of retail and office buildings in Richmond’s West End area sold for $6.3 million in late March, according to Cushman & Wakefield | Thalhimer. The buildings are located at the corner of Grove and Granite avenues, at addresses 5701-5707 Grove Ave. and 124 Granite Ave. About half of the build[...]
