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VCEDA seed grants sow small business growth
Adam Patterson knew if his fashion design company was going to thrive in his hometown of Big Stone Gap, he needed capital — and a new sewing machine. “Mine was so old, it sewed crooked stitches,” says Patterson, founder of Jones-Hurst Designs. Patterson received a $10,000 grant in September from a Virginia Coalfield Econom[...]
Defense tech startups close major funding rounds
Venture capital firms are betting big on two Northern Virginia-based defense contracting startups that are promising high-tech solutions to military challenges. In August, McLean-based Defcon AI announced it had raised $44 million in seed funding led by San Francisco investment firm Bessemer Venture Partners. The same month, Par[...]
Roanoke City Council approves zoning changes — again
A residential zoning do-over in the Star City is done. At least for now. On Sept. 16, Roanoke City Council voted 6-1 to adopt zoning amendments that will allow greater housing density and eliminate single-family-only housing City Council adopted similar zoning amendments in March, but several city homeowners, including Republica[...]
Energy storage projects slated for Greensville, Pittsylvania
Two energy storage projects proposed for Southern Virginia would help augment the area’s power capacity, diversify the region’s tax base and boost the regional economy, industry representatives say. Dominion Energy Virginia wants to build a liquified natural gas storage facility on more than 20 acres that the Richmon[...]
Construction begins on Carilion Taubman Cancer Center
Of the donors, health professionals and area leaders who turned out for Wednesday’s groundbreaking for the Carilion Taubman Cancer Center, Orion Moses, age 9, commanded the most attention. Doctors diagnosed Moses, who lives in Elliston, with leukemia at age 5. After enduring three and a half years of chemotherapy, he is [...]
Powhatan approves $2.7B data center campus
Powhatan County has approved an estimated $2.7 billion data center campus on 119.9 acres partly bordering Chesterfield County. The county’s board of supervisors voted 3-2 during its Oct. 28 meeting for a rezoning and a conditional use permit allowing the proposed development to move forward. The developer, Newport Beach, C[...]
Electro-Mechanical launches $16.5M expansion in Washington County
Electro-Mechanical — an electrical equipment manufacturer headquartered in Bristol — will invest $16.55 million to expand in Washington County, Gov. Glenn Youngkin announced Tuesday. “Electro-Mechanical’s significant expansion in Washington County demonstrates the strength of Southwest Virginia’s manufact[...]
John C. Asbury tapped to lead American Bankers Association
The American Bankers Association has elected John C. Asbury, president and CEO of Richmond-based Atlantic Union Bankshares, as the organization’s chair for 2024-25. “Through his bold leadership and dedicated service to our industry, John has proven that he is just the right person to step into this critically important[...]
Pharma company invests $1.5M on Prince William expansion
Pharmaceutical manufacturer Granules Consumer Health, a subsidiary of Granules India, will invest $1.5 million into expanding its operations in Prince William County, Gov. Glenn Youngkin announced Monday. The company plans to install new manufacturing lines at its existing Manassas facility, with an aim of creating nearly 100 [...]
Raytheon wins $900M contract modification
The Department of Defense’s Missile Defense Agency has awarded a $900 million contract modification to Raytheon, a subsidiary of Arlington County’s RTX, according to a DOD notice posted Friday. Under the extension, Raytheon, a defense contractor that is also based in Arlington County, will continue operations and s[...]
Breeden promotes five property management employees
The Breeden Co. has promoted five employees in its property management division, the Virginia Beach-based real estate company announced Thursday. The five employees are Rachel Blanchard, Lisa Capps, Sheena Obermark, Tiffany Rote and Samantha Schuman. Blanchard, who was previously a project manager, has been appointed director of[...]
Fed’s Fifth District economy grows modestly
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew modestly from early September, according to the latest edition of the Fed’s Beige Book, released Wednesday. Published eight times per year, the Beige Book[...]
