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BWX Technologies lands $2.2B in naval nuclear contracts
Lynchburg-based BWX Technologies Inc. has landed $2.2 billion in U.S. Naval Nuclear Propulsion Program contracts, the nuclear components and fuel supplier announced Tuesday. Approximately half of the contract was awarded in the first quarter of the year, with the rest as options subject to congressional appropriations, according to the company, which employs approximately 6,600 people […]
$59.6M hydroponic operation coming to Va. Beach
Agriculture startup Sunny Farms LLC plans to build a $59.6 million, 32-acre hydroponic operation in Virginia Beach — creating 155 jobs and one of the largest greenhouses on the East Coast, Virginia Gov. Ralph Northam announced Tuesday. The facility, which will cover 1.2 million square feet when completed in three years, will be located at […]
3Pillar Global closes third acquisition within year
Fairfax-based product lifecycle management company 3Pillar Global Inc. has completed an acquisition of North Carolina-based software firm Software Development Europe, it announced Tuesday. It’s the third acquisition for 3Pillar during the past year — part of a growth strategy fueled by an investment from New York-based private equity investor CIP Capital, according to 3Pillar. The […]
T-Rextasy: Dino replica finds home at Great Minds’ future Richmond HQ
Call it rex appeal. On Wednesday, Washington, D.C.-based education company Great Minds will install a museum-quality replica of Stan the Tyrannosaurus rex’s skeleton at its future headquarters in Richmond. Measuring 13 feet tall and 40 feet long, the actual Stan’s fossilized skeleton sold for $32 million in a Christi[...]
Central Va. pharma hub strategic plan released
On Tuesday, the Virginia Commonwealth University College of Engineering announced its strategy to turn Central Virginia into an advanced pharmaceutical manufacturing, research and development hub. The strategic plan aims to foster business and job growth in the Richmond-Petersburg area while also expanding access to medicines. The creation of the plan was funded by a $100,000 […]
Genworth files for mortgage insurance biz IPO
Henrico County-based Fortune 500 insurer Genworth Financial Inc. filed paperwork with the U.S. Securities and Exchange Commission Monday for a proposed initial public offering of the company’s mortgage insurance business. J.P. Morgan and Goldman Sachs & Co. LLC will serve as joint book-running managers for the proposed offering of Genworth Mortgage Holdings Inc. (GMHI), a […]
Dominion no longer pursuing second Richmond office tower
Dominion Energy Inc. no longer plans to pursue a second office tower in downtown Richmond. Last week, the Richmond-based utility notified the city that it no longer plans to pursue construction of 700 Canal Place, a proposed 17-floor office tower that would complement 600 Canal Place, a 960,000-square-foot, 20-floor office tower[...]
Staunton manufacturer to expand, create 31 jobs
Ryzing Technologies LLC, a designer and manufacturer of textile-based engineering solutions, will expand its facility in Staunton, creating 31 jobs, according to an announcement Friday from Virginia Gov. Ralph Northam. Ryzing is investing $149,000 in the expansion of the facility, which specializes in engineered textiles, rigid inflatable structures, and rapid prototyping. Its customer base includes […][...]
Va. unemployment stayed steady in March
Virginia’s seasonally adjusted unemployment rate remained above 5% in March, dropping just 0.1 percentage points below February’s jobless rate. March’s 5.1% unemployment rate was 2.5 percentage points above March 2020’s rate. Virginia contends to trend lower than the nation, however. The U.S. unemployment rate for March was 6%. “Virginia’s unemployment rate is steadily improving and […][...]
VMI names Wins new superintendent
Retired U.S. Army Maj. Gen. Cedric T. Wins was named Virginia Military Institute’s new superintendent by the VMI Board of Visitors on Thursday. Wins, who has served as interim superintendent at VMI since November 2020, is a 1985 graduate of the state-supported military college in Lexington. “Maj. Gen. Wins has distinguished [...]
Rockingham County produce stand expands to 27-acre facility
Mount Crawford-based Overlook Produce and Farm Adventures will invest more than $850,000 to construct a produce packing facility and retail market pavilion on a 27-acre site in Rockingham County, according to an announcement Wednesday from Virginia Gov. Ralph Northam. Located off Interstate 81’s Exit 240, the facility will replace Overlook Produce’s roadside produce stand and […]
Fed says Fifth District economy shows moderate growth
The economy has grown “moderately” in recent weeks, with strong production increases, employment rising and consumer spending up in the Federal Reserve’s Fifth District, which includes Virginia, North Carolina, South Carolina, West Virginia and Maryland, according to the latest edition of the Fed’s Beige Book, released Wednesday. The Beige Book, which is published eight times […][...]
