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Coffee biz buys Newport News building for $1.1M
A coffee company purchased a 2,400-square-foot retail building in Newport News for $1.1 million with plans to turn it into a coffee shop. Seven Cities Coffee LLC, doing business as 7 Brew, purchased the building located at 398 Denbigh Blvd. from JMP Properties LLC, Cushman & Wakefield | Thalhimer announced. The coffee compan[...]
Liberty University appoints new president, chancellor
Liberty University’s board has appointed retired Air Force Maj. Gen. Dondi E. Costin as its next president and Pastor Jonathan Falwell as chancellor, with both men starting in those posts before the 2023-24 school year, the Lynchburg-based private Christian university announced Friday. Costin, who earned two master’s[...]
Balance of power
Chris Rawlings was a mechanic who wanted to be a pilot. He left the Marine Corps in 2008 after deploying twice to Iraq, where he supervised an aircraft maintenance team, going on to perform similar duties as a civilian contractor in a hangar at Fort Eustis. But his plan was to get back into the […]
At max capacity
Supply chain and logistics executives used to joke that no one knew or understood what their jobs were — that is, until the COVID-19 pandemic upended how goods were transported to warehouses and ultimately to customers. “Until you start to look behind the scenes, you don’t know how all of this gets to your door [&helli[...]
Falling short
In the accounting field, the books are out of balance. Demand for the profession’s services is rising, which is one for the assets column, but on the debit side of the ledger, the number of people willing and able to provide those services is dropping so alarmingly that some firms are being forced to turn […]
Shoring up
Williamsburg, Jamestown and Yorktown are all significant parts of the nation’s foundation, and historic tourism drove the region’s economy during the 20th century. But Colonial Williamsburg hasn’t been enough to keep big crowds coming to the area consistently in the 21st century, even before the pandemic. Visit[...]
Barkin: Raising interest rates is correct course
As inflation remains high and the fallout from recent bank failures seems contained, the Federal Reserve Bank has good reason to continue raising interest rates, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday in a speech to the Virginia Council of CEOs at the University of Richmond. “It is worth [...]
Atlantic Park breaks ground in Virginia Beach
Atlantic Park, the $335 million dollar surf park development planned for Virginia Beach’s Oceanfront, has broken ground and closed on its financing, according to an announcement Thursday from Venture Realty Group, the firm developing the project with music icon Pharrell Williams. The 11-acre surf park has been in developme[...]
Vienna digital development firm acquires health tech company
Vienna-based digital development company 10Pearls has acquired Inspirant Group, a health care strategy consulting firm based just outside Chicago, 10Pearls announced Monday. Financial terms of the transaction were not disclosed. “We are delighted to welcome Inspirant Group to our team at 10Pearls. … The combination of our two teams will allow us to partner with […]
U.Va. commerce alum donates $10M for scholarships
A University of Virginia alumnus, John Connaughton, and his wife, Stephanie, have donated $10 million to fund need-based undergraduate scholarships for McIntire School of Commerce students, the university announced Thursday. U.Va. will match the couple’s gift, which establishes the Connaughton Bicentennial Scholars Fund. P[...]
Youngkin announces $8.1M in GO Virginia grants
A variety of projects around the state intended to spur economic and workforce development will get a boost from $8.1 million in state GO Virginia grants, Gov. Glenn Youngkin announced Friday. The 17 projects are expected to add hundreds of jobs. Nearly $4.8 million will fund two Virginia Tech projects, including one expected to build […]
ASRC Federal to pay $350M for SAIC’s logistics biz
Reston-based Science Applications International Corp. (SAIC) has agreed to sell its logistics and supply chain management business to Reston-based ASRC Federal Holding Company LLC for $350 million in cash, both companies announced Thursday. About 240 SAIC employees will transition to ASRC Federal upon completion of the deal, which is expected to close in spring 2023. […]
