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Lynchburg’s BWXT wins $690M contract extension
The U.S. Department of Energy has awarded a contract extension to Lynchburg-based nuclear components and fuel supplier BWX Technologies Inc. (BWXT) worth up to $690 million, the company announced today. BWXT has worked with Irving, Texas-based engineering and construction firm Fluor Corp. on the project, an effort to decontaminate and decommission the former Portsmouth Gaseous […]
Carvana proceeds with $25M Chesterfield facility
After putting its plans in neutral, online used car retailer Carvana announced Tuesday that it plans to break ground this quarter on a $25 million, 191,000-square-foot vehicle inspection and reconditioning facility in Chesterfield County. The project could bring more than 400 jobs to the county, economic development officials sa[...]
Va. restaurant, hospitality industry seeks $270M+ in relief funding
Hard hit by the pandemic, Virginia’s restaurant and hospitality industry is asking the General Assembly to dedicate more than $270 million from the state’s share of federal American Rescue Plan dollars to assist hotels, restaurants and other hospitality-related industries. In a letter sent Tuesday to members of the state legislature’s money committees, the Virginia Restaurant, […][...]
Teresa Carlson leaves Amazon Web Services
Teresa Carlson, the Herndon-based executive who founded Amazon Web Services’ public sector business, is leaving Amazon.com Inc.’s cloud computing subsidiary to become president and chief growth officer of Splunk Inc., the San Francisco tech company announced today. Carlson was an influential and visible presence in t[...]
Chantilly IT firm acquired by N.C. company
A year shy of its 30th anniversary, Chantilly-based IT services provider SolutionWorx has been acquired by WingSwept, a B2B tech services company based in Garner, North Carolina, the companies announced. The deal, which became effective March 31, will allow the managed IT service providers to grow, and provide SolutionWorx with the resources of a larger […]
Virginia sees major housing inventory shortage
Across Virginia and the nation, real estate experts are singing the same tune: We’re facing a major housing inventory shortage that shows no signs of letting up soon. “Inventory is down about 44% compared to a year ago and it‘s about a third of what it was five years ago,” says Lisa Sturtevant, chief economist [&[...]
CarMax to acquire remaining stake in Edmunds
Goochland County-based used car giant CarMax Inc. announced Thursday that it had signed an agreement for full ownership of vehicle research website Edmunds.com Inc. in a cash and stock deal. In January 2020, CarMax invested $50 million to acquire a minority stake in Santa Monica, California-based Edmunds. CarMax, a Fortune 500 c[...]
PPP loans deadline extended to May 31
Businesses and banks received a two-month extension to apply for Paycheck Protection Program loans this week, as President Joe Biden signed legislation delaying the deadline for the latest round of PPP loans from March 31 to May 31. This week’s extension takes some of the pressure off bankers and businesses, says Steve Yeakel, president and […]
Virginia National Bank finalizes merger with Fauquier Bank
The parent company of Virginia National Bank announced the completion of its merger with Fauquier Bankshares Inc. today, creating a combined bank with $1.7 billion in assets and $1.5 billion in deposits as of Dec. 31, 2020. The merger, announced in October, brings together Charlottesville-based Virginia National Bankshares Corp. and the Warrenton-based parent company of […]
Tom Farrell retiring from Dominion Energy
After 14 years leading Richmond-based Dominion Energy Inc., Thomas F. Farrell II is retiring as the utility’s executive chairman, effective April 1, according to Securities and Exchange Commission filings submitted by the Fortune 500 company last week. Farrell is also stepping down from the company’s board of directo[...]
Loudoun announces major mixed-use development along Silver Line
Loudoun Economic Development unveiled plans Wednesday for Rivana at Innovation Station, a 4.4 million-square-foot mixed-use development adjacent to Metro‘s Silver Line extension on a site Loudoun once proposed for Amazon.com Inc.’s HQ2 East Coast headquarters. Rivana is the first phase of Innovation Station, a 103-ac[...]
Dark fiber optic network coming to NoVa
A new 680-mile, regional fiber optic network will begin to take shape in Northern Virginia during the second half of 2021. The project is a joint venture between Annandale-based Tenebris Fiber, Kansas-based Diode Ventures and New York-based JLC Infrastructure. Construction on the new dark fiber network will begin later this year, the companies said, starting […]
