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Democrats call out Youngkin on Ford plant decision
Democratic state delegates excoriated Virginia Gov. Glenn Youngkin on Tuesday for taking Virginia out of the running for a $3.5 billion Ford Motor Co. battery manufacturing plant that would have created at least 2,500 jobs in Southern Virginia. The governor said last week that although Virginia was a finalist for the economic de[...]
TowneBank completes Farmers Bank acquisition
Suffolk-based TowneBank has completed its acquisition of Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, TowneBank announced Tuesday. The $56 million deal created a combined company worth $17.5 billion in total assets, loans of $10.9 billion and $14.5 billion. It adds Isle of Wight and Southamp[...]
21 Va. industrial sites awarded $90M for development
Virginia Gov. Glenn Youngkin announced $90 million in grants for the development of 21 industrial sites across the state Monday, helping localities get shovel-ready for big economic development projects. The two biggest winners are Chesterfield and Henry counties, which received $25 million and $22.2 million respectively from th[...]
ODU hires associate VP for innovation, commercialization
Kevin Leslie will be Old Dominion University’s first associate vice president for innovation and commercialization, the Norfolk-based university announced Friday. Leslie will improve ODU’s technology transfer operation to better identify, develop and market faculty, staff and student intellectual property and startups. He al[...]
Fredericksburg medical building sells for $6.85M
A medical office building in Fredericksburg sold for $6.85 million, Charlotte, North Carolina-based outpatient health care real estate firm Flagship Healthcare Properties LLC announced Wednesday. Built in 2007, the 16,483-square-foot medical office building is located at 1071 Care Way, adjacent to the 450-bed Mary Washington Hos[...]
Cushman & Wakefield | Thalhimer promotes marketing director
Cushman & Wakefield | Thalhimer has promoted Kristan Cole to vice president of marketing and brokerage services, the commercial real estate company announced Jan. 9. Cole will lead the firm’s overall marketing strategy as well as provide leadership and oversight of Thalhimer’s research, design, communications and[...]
White Mill project renamed ‘Dan River Falls’
The city of Danville and The Alexander Co. held a groundbreaking Thursday for the redevelopment of the long-vacant White Mill in Danville’s River District. At the ceremony held Thursday in Danville, officials revealed that the White Mill will now be called “Dan River Falls,” honoring Dan River Fabrics, the text[...]
Barkin: Inflation improving but not yet low enough
With inflation decreasing but still not at its 2% target, the Federal Reserve still needs “to stay on the case,” Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday at a conference hosted in Richmond by the Virginia Bankers Association and the Virginia Chamber of Commerce. Inflation continued [...]
Sentara Healthcare acquires Fla. insurance company
Norfolk-based Sentara Healthcare has acquired AvMed Inc., a not-for-profit health plan company based in Miami, from SantaFe HealthCare Inc., Sentara announced Thursday. Financial terms of the deal, which closed Dec. 31, 2022, were not disclosed. AvMed is a health insurance company with more than 200,000 members and 35,000 providers and nearly 500 employees. It offers […]
10 Va. companies graduate VEDP export program
Ten Virginia companies are the latest to graduate from the Virginia Economic Development Partnership’s Virginia Leaders in Export Trade (VALET) program, which helps companies work on international export growth strategies, Gov. Glenn Youngkin announced this week. The two-year VALET program helps Virginia companies that have established domestic operations use international exporting as a growth strategy. […][...]
Va. Beach office building sells for $15.5M
Charlottesville-based Seminole Trail Management LLC is the new owner of Pinehurst Centre, a 99,337-square-foot office building in Virginia Beach, Colliers announced Jan. 9. Virginia Beach-based real estate developer Robinson Development Group sold the four-story, Class A office building to Seminole Trail for $15.5 million. The o[...]
GTT Communications emerges from Chapter 11
McLean-based GTT Communications Inc. has completed its financial restructuring process and emerged from Chapter 11 cases, the telecommunications company announced Jan. 3. “The transformed company is repositioned to focus on providing customers with industry-leading managed network and cloud security services that leverage the company’s global Tier 1 IP network,” GTT wrote in a news release. […][...]
