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Virginia Tech announces new foundation CEO
Virginia Tech announced Monday that Elizabeth McClanahan, a former Supreme Court of Virginia justice, has been named CEO of the Virginia Tech Foundation, which manages the university’s endowment. She succeeds John Dooley, who announced his retirement in August. “The foundation is deeply involved in realizing the university�[...]
McLean federal contractor buys Pa.-based software company
McLean-based federal technology contractor NuWave Solutions LLC announced Tuesday it has acquired Allentown, Pennsylvania-based software company ProModel Government Services. Financial terms of the acquisition were not disclosed. This marks NuWave’s second acquisition since it was acquired by Boca Raton, Florida-based private equity firm AE Industrial Partners LP in June. Earlier in December, NuWave announced its […][...]
Reston civil engineering firm to buy Herndon company
Reston-based civil engineering company Bowman Consulting Group Ltd. announced Friday it will acquire Herndon-based engineering firm KTA Group Inc. Financial terms of the acquisition were not disclosed. Founded in 1989, KTA provides engineering, mechanical, electrical and plumbing services, which will broaden Bowman’s civil engineering offerings, according to a company statement. “The addition of the talented […][...]
Pandemic brings end to decade of job gains
The public health crisis brought an unanticipated end to 11 straight quarters of economic growth and nearly a decade of job gains in Virginia, according to Old Dominion University’s 2020 State of the Commonwealth Report, released on Dec. 20 by ODU’s Dragas Center for Economic Analysis and Policy. “The COVID-19 pandemic has dramatically affected how […]
Va. unemployment rate fell less than 1% between October and November
Virginia’s seasonally adjusted unemployment rate fell by less than 1% between October and November to 4.9%, according to employment statistics released Friday by the Virginia Employment Commission — but unemployment still remains 2.2% higher than the same time last year. The labor force grew by 0.4% to 4.28 million between October and November, while the […]
Chesapeake shopping center sells for $5.1M
A shopping center in Chesapeake sold for $5.1 million, Colliers International announced earlier this week. The 75,023-square-foot Cahoon Commons Shopping Center is located at 644-648 Grassfield Parkway. The property is currently 25% occupied by tenants including Chesapeake Regional Medical Center, Virginia Alcoholic Beverage Con[...]
Navy awards potential $797.3M contract extension to Perspecta
The U.S. Navy awarded a potential $797.3 million extension to Chantilly-based federal contractor Perspecta Inc. for its Next Generation Enterprise Network (NGEN) contract for network support, net centric data and information technology support services, the U.S. Department of Defense announced Thursday. Under the contract extension, Perspecta will provide information security, testing, voice, video and data […][...]
Dominion files construction, operations plan for $7.8B offshore wind farm
Richmond-based Dominion Energy Inc. announced Friday it has filed the required construction and operations plan (COP) with the Bureau of Ocean Energy Management to build the utility’s proposed $7.8 billion, 2,640-megawatt Coastal Virginia Offshore Wind (CVOW) project. “This is an important step in the process toward [...]
Hilb Group announces third December acquisition
In its third acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Lexington County, South Carolina-based employee benefits consulting, management and brokerage firm Plan Benefit Services Inc. (PBSI), effective Dec. 1. Financial details of the acquisition were not disclosed. Founded in 1986, PBSI provides employee benefits, retiree benefits, individual […][...]
Medical office building in Chesterfield sells for $1.825M
A medical office building in Chesterfield County sold for $1.825 million, Cushman & Wakefield | Thalhimer announced Tuesday. Located at 13440-13460 Tredegar Lake Parkway, the single-story, 9,992-square-foot building sits near the intersection of Route 288 and Powhite Parkway. Vascular Surgery Associates, which has six additi[...]
Va. home sales up by 30% in November
Virginia home sales were up by more than 30% in November — marking the greatest increase in home sales activity in more than six years, according to data released Thursday by Virginia Realtors. During the month of November, there were 11,590 home sales in Virginia, an increase of 2,681 from the same time last year. Year-to-da[...]
14K+ Virginians filed initial jobless claims last week
The number of initial jobless claims filed last week reached close to its Aug. 8 peak, with more than 14,000 Virginians filing initial unemployment claims, according to Virginia Employment Commission data released Thursday. The week prior, initial claims reached more than 16,000. While there was a 12.9% decrease in claims from the previous week, the […]
