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Joey Gawrysiak (left) and Grant Paranjape sign agreement.
Dec 7, 2020

Shenandoah University announces partnership with esports league

Shenandoah University announced Monday that it has entered into a partnership with the Washington Justice, a professional Overwatch League, for internships and learning opportunities for students.  This marks the first partnership between a university and a professional Overwatch League team (esports). The Washington Justice re[...]

Dec 7, 2020

Auto component supplier announces $4.6M Strasburg expansion

Automotive components and systems supplier International Automotive Components Group (IAC Group) will invest $4.6 million to expand its Strasburg operations and add auto component lines and products to its existing facility, creating 47 jobs, Gov. Ralph Northam announced Monday. Headquartered in Luxembourg, IAC Group is a supplier of instrument panels, console systems, door panels, headliners […][...]

Adbel Business Village. Photo courtesy Cushman & Wakefield | Thalhimer
Dec 7, 2020

Chesterfield industrial building sells for $2.77M

An industrial building in Chesterfield County sold for $2.77 million, Cushman & Wakefield | Thalhimer announced last week. Located at 8801-8899 Whitepine Road, the 28,600-square-foot Adbel Business Village sits on 4.1 acres. SMW Warehouses LLC purchased the property from Harrison & Hine LLC as an investment.  Constructe[...]

Dec 4, 2020

Tysons IT company acquires Fla.-based tech training company

Tysons-based information technology company By Light Professional IT Services LLC announced Friday it has acquired Port Orange, Florida-based technology training company Raydon. Financial terms of the acquisition were not disclosed. Founded in 2002, By Light provides engineering, cyber, modeling and simulation services to defense and government agencies, employing more than 2,000 people. Raydon, which formed […][...]

Dec 4, 2020

Navy awards Bechtel $1.14B in contract modifications

The U.S. Navy awarded Reston-based Bechtel Corp.’s plant machinery company two contract modifications with a combined $1.14 billion in value to provide propulsion components for the branch’s nuclear-powered ships, the Department of Defense announced Thursday. The goal is to provide the military with effective nuclear propulsion plants and ensure that they are safe and reliable, […]

Virginia Economic Development Partnership President and CEO Stephen Moret discusses economic recovery for Virginia post-pandemic during the Virginia Chamber of Commerce's 2020 Economic Summit.
Dec 4, 2020

Va. employment may not fully recover until 2023 to 2025

Virginia may not get back to full, pre-pandemic employment until 2023 to 2025, according to Moody’s Analytics employment forecasting, but Stephen Moret, president and CEO of Virginia Economic Development Partnership (VEDP) thinks that the commonwealth can recover sooner. “We not only want to accelerate the path back to full,[...]

Dec 3, 2020

NuWave Solutions acquires San Diego-based analytics company

McLean-based federal technology contractor NuWave Solutions LLC announced Thursday it has acquired BigBear Inc., a cloud-based big data analytics firm in San Diego.  Financial terms of the transaction were not disclosed. This marks NuWave’s first acquisition since it was acquired by Boca Raton, Florida-based private equity firm AE Industrial Partners LP in June. Founded in […]

Dec 3, 2020

ManTech wins $273M Homeland Security contract

The U.S. Department of Homeland Security awarded Herndon-based ManTech, a technology contractor for U.S. defense, intelligence and federal civilian agencies, a five-year, $273 million contract to provide business intelligence support services for Customs and Border Protection (CBP), the company announced Thursday. Under the contract, ManTech will perform services that prevent crime and terrorism, according to […][...]

Dec 3, 2020

Va. jobless claims fall to lowest level since March

The number of initial jobless claims filed last week fell to its lowest level since the pandemic’s employment effects began to be felt in mid-March, the Virginia Employment Commission reported Thursday. Initial jobless claims in Virginia dropped by 29.7% last week compared with the previous filing week, according to the VEC, while continued claims fell […]

Dec 2, 2020

These 16 Va. companies received $10M PPP loans

The U.S. Small Business Administration on Tuesday released additional information about all approved borrowers from its $659 billion Paycheck Protection Program (PPP) small business relief program, this time including exact company names, loan amounts, addresses and other information.  Previously, the government in early July had released an incomplete list of recipients, including only ranges of […][...]

Dec 2, 2020

Va. hotel revenues remain low during increased COVID-19 restrictions

With COVID-19 cases mounting, Virginia hotel revenues continue to decline when compared with last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Nov. 22 through Nov. 28, hotel revenues in Virginia decreased by 34% and rooms sold declined […]

Virginia State Capitol. Photo by Conor Lobb, VCU Capital News Service
Dec 2, 2020

Virginia redistricting committee takes shape

RICHMOND, Va. — More than half a dozen legislators have been named to a bipartisan redistricting commission that seeks to fairly draw congressional and state legislative districts. The commission will be made up of 16 people. Half of them will be legislators and the other half will be Virginia citizens. Virginia legislativ[...]

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