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Fed’s Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released April 17. Published eight times per year, the Beige Book is bas[...]
Australian maritime co. to start sub/shipbuilding school in Hampton Roads
An Australian maritime company announced Tuesday it will set up a submarine and shipbuilding training institution in Norfolk for the short term and will seek a permanent home in Newport News. Quality Maritime Surveyors (QMS), based in the suburbs of Adelaide, Australia, is one of the pioneering companies to take the plunge into [...]
Port of Va. is already handling cargo diverted from Baltimore
On Tuesday afternoon, workers at the Port of Virginia’s Virginia International Gateway facility in Portsmouth unloaded cargo that had been scheduled for the Baltimore Harbor before a container ship struck and destroyed the Francis Scott Key Bridge in a fatal accident that has left the shipping channel closed for at least sever[...]
Baltimore bridge collapse will drive ships to Port of Va.
After a container ship struck the Francis Scott Key Bridge in Baltimore early Tuesday, causing the bridge to collapse and possibly claiming multiple lives, ships bound for the Port of Baltimore will be diverted to other ports, primarily the Port of Virginia and the Port of New York and New Jersey. The Virginia Port Authority, [&[...]
Fed’s Fifth District economy stays the course
Economic activity in the Federal Reserve’s Fifth District was little changed in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released March 6. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered from the nation’s 12 Feder[...]
Widening of Port of Virginia shipping channel is complete
The Port of Virginia’s shipping channel is now wide enough for two ultra-large container vessels to pass at the same time, concluding a significant part of the $450 million dredging project to make the port the widest and deepest harbor on the East Coast. According to the Friday announcement, the port expects to finish the[...]
A sampling of Virginia’s major road projects
HAMPTON ROADS Hampton Roads Bridge-Tunnel Expansion Project Work continues on Virginia’s largest high- way construction project, the $3.9 billion Hampton Roads Bridge-Tunnel (HRBT) expansion. The project will widen the four-lane segments of the 9.9-mile Interstate 64 corridor between Norfolk and Hampton to six lanes on land an[...]
Biden executive order on Chinese cranes affects Port of Va.
President Joe Biden issued an executive order Wednesday addressing cybersecurity and espionage concerns over Chinese-made cranes in use at U.S. ports, including the Port of Virginia. Additionally, the Biden administration announced a plan to invest $20 billion on infrastructure security at U.S. ports, including support for domes[...]
Dominion offshore wind farm earns final federal approvals
Richmond-based Dominion Energy has earned the final two federal approvals needed to move forward with the construction and operation of its $9.8 billion, 176-turbine offshore wind farm 27 miles off the coast of Virginia Beach. The Bureau of Ocean Energy Management granted final approval of the construction plan for the Coastal V[...]
Fed’s Fifth District economy sees mild expansion
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) expanded mildly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Bo[...]
Va.’s maritime industry has $8B economic impact, report says
Virginia’s non-military maritime industry was responsible for one in five jobs in Virginia and more than $8 billion in state and local taxes during fiscal 2022, according to a recent study conducted by William & Mary. The Virginia Maritime Association and the Virginia Port Authority commissioned the study to demonstrat[...]
Fed’s Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is bas[...]
