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35 Virginia companies make 2020 Fortune 1000 list
Thirty-five Virginia-based companies made Fortune magazine’s 66th annual Fortune 1000 list, which was released Monday. The list ranks the 1,000 largest United States corporations by total revenue. Of the 35 Virginia companies, 22 made the elite Fortune 500 list. Science Applications International Corp. (SAIC) is the only Virginia newcomer to the Fortune 500 list. Last year […]
ODU president retiring in 2021
Old Dominion University President John R. Broderick announced Monday that he will be retiring in summer 2021. ” I am proud of the many breakthroughs Old Dominion has achieved in the past 12 years, including more than $940 million in new or committed resources. I look forward to watching Old Dominion climb many more mountai[...]
Va. Beach to reopen beaches Friday, with restrictions
The oceanfront at Virginia Beach will reopen this Friday for recreational activity, Gov. Ralph Northam announced during his coronavirus news conference Monday. Approved activities include sunbathing, swimming, fishing and surfing, he said, but will not include group sports, alcohol consumption, grouping umbrellas or the use of[...]
One-third of small businesses not operating during pandemic
Nearly one-third of small and medium-sized businesses aren’t operating because of the COVID-19 pandemic, according to results released Monday from a national survey conducted by Facebook Inc. and the Small Business Roundtable (SBR). Approximately 86,000 people who own, manage or work for a small or medium-sized business were s[...]
Va. Beach defense contractor to create 100 jobs
Virginia Beach-based defense contractor Valkyrie Enterprises Inc. announced Friday it has received a $125,000 grant from the Virginia Beach Development Authority (VBDA) to aid in its planned expansion by 100 full-time jobs during the next three years. “Valkyrie Enterprises epitomizes the real value of these grants,” Economic Development Director Taylor Adams said in a statement. […]
Va. COVID-19 cases rise by 752
Coronavirus cases in Virginia rose by 752 cases in the last day, bringing the total number of confirmed and probable COVID-19 cases statewide to 31,140 as of Monday, May 18, according to the Virginia Department of Health. Across the commonwealth, 1,014 Virginians have died from COVID-19. The state saw 705 new confirmed and pro[...]
Va. COVID-19 death toll tops 1,000
UPDATED MAY 17 Even as much of Virginia began the first steps of reopening Friday, the commonwealth marked a few milestones in the coronavirus pandemic over the weekend: The statewide COVID-19 death toll now tops 1,000, the total number of cases surpassed 30,000 and, for the first time, Virginia reported more than 1,000 new case[...]
McLean satellite operator Intelsat files for bankruptcy
McLean-based satellite operator Intelsat Corp. announced Friday it has filed for Chapter 11 bankruptcy protection, as it faces a $15 billion debt burden. “Our success has come despite being burdened in recent years by substantial legacy debt,” Intelsat CEO Stephen Spengler said in a statement. “Now is the time to change that.” Intelsat said in […]
It may take years for economy to recover, construction economist says
Associated Builders and Contractors Chief Economist Anirban Basu said that it will likely take years for the nation’s economy to recover from the COVID-19 pandemic’s blow. “One of the reasons for this is that state and local government budgets are now under severe pressure. With retail sales, hotel and income tax revenues declining, many state […]
$2.2 billion in federal funding headed to state agencies
Next week, Virginia officials will allocate about $2.2 billion in federal stimulus funds to state agencies, which are sending requests to the governor’s office through Monday, Virginia Secretary of Finance Aubrey Layne announced Friday. So far, of the $3.1 billion in federal funds from the CARES Act given to Virginia, $650[...]
Prince George medical building sells for $3.85M
The OrthoVirginia building in Prince George County has sold for $3.85 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Thursday. Located at 4710 Puddledock Road, the 11,172-square foot building is 100% occupied by OrthoVirginia, an independent group practice of orthopedic su[...]
Mechanicsville medical building sells for $2.1M
The Virginia Cancer Institute building in Hanover County’s Mechanicsville area has sold for $2.1 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Thursday. Located at 7501 Right Fork Road, the 8,100-square-foot building is 100% occupied by the Virginia Cancer Institute[...]
