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Va. Council of CEOs to expand statewide
It’s about to get a little less lonely at the top. After 20 years of bringing together CEOs and other executive leaders from the Central Virginia region (particularly in the Richmond and Charlottesville areas), the Virginia Council of CEOs (VACEOs), a membership organization for CEOs in Virginia, recently announced plans to ex[...]
Calif.-based company buys Sterling apartment complex for $27.15M
An affordable housing complex for seniors in Sterling has sold for $27.15 million, Irvine, California-based Avanath Capital Management announced late last week. Avanath acquired the 150-unit Cascades Village located at 46565 Harry Byrd Highway from Community Village at Sterling LP, according to Loudoun County property records. �[...]
Vinton, Warsaw, Wytheville receive industrial revitalization funding
The towns of Vinton, Warsaw and Wytheville will receive a total of more than $1.4 million in state industrial revitalization fund (IRF) grants, Gov. Ralph Northam announced Friday. IRF funding provides gap financing for redevelopment projects that can lead to long-term employment opportunities. “This funding will not only help transform deteriorating or unused structures, it […]
Virginia Natural Gas donates $500K to Hampton University
Virginia Beach-based Virginia Natural Gas and its parent company, Southern Co., announced Thursday that the companies are donating $500,000 to Hampton University to support information technology infrastructure upgrades in light of new remote learning needs brought on by the pandemic. The funds, which are part of the Southern Co. Foundation’s $50 million HBCU (historically Black […]
Va. unemployment rate fell less than 1% between September and October
Virginia’s seasonally adjusted unemployment rate fell by less than 1% between September and October to 5.3%, according to employment statistics released Friday by the Virginia Employment Commission — but unemployment still remains 2.6% higher than the same time last year. The labor force fell by 0.4% to 4.27 million while the number of employed Virginians increased […]
David Baldacci donates $100K to Smith Mountain Lake meals program
Bestselling author David Baldacci and his wife, Michelle, have donated $100,000 to The Landing Love Project, a nonprofit initiative to expand meal delivery services to at-risk families and seniors in the Smith Mountain Lake region. The Landing Love Project was established in March 2020 by March Bruno and Tiffany Silva, owners [...]
AES Corp. to sell $1.8B in debt in private offering
Arlington-based energy company AES Corp. announced Thursday its plans to sell $1.8 billion in debt in a private offering to institutional buyers. The company will offer $800 million in 1.375% senior notes due in 2026 and $1 billion in 2.45% senior notes due in 2031. AES intends to allocate an amount equal to the net […]
Two Va. companies land spots on $496M Washington Headquarters Service contract
Arlington-based Washington Headquarters Service awarded two Virginia companies spots on a potential five-year, $496 million contract to support the Office of the Under Secretary of Defense for Research and Engineering, the U.S. Department of Defense announced Thursday. Chantilly-based engineering and tech contractor American Systems Corp. and Alexandria-based Modern Technology Solutions Inc. (along with Albuquerque, New […][...]
Alexandria company wins $85M Navy contract
The U.S. Navy awarded Alexandria-based Systems Planning and Analysis Inc. (SPA) an $85 million contract to provide technical support for the Trident II submarine-launched ballistic missile system, the company announced this week. Under the contract from the U.S. Navy’s Strategic Systems Programs (SSP) office, SPA will provide technical services, arms control support, program support, assessments, […][...]
DXC Technology to pay out $650K under legacy pay discrimination allegations
Tysons-based Fortune 500 IT services company DXC Technology has entered into a conciliation agreement with the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) and agreed to pay $650,000 in back pay and interest to resolve compensation discrimination allegations against female employees in 2012. DXC Technology was formed in 2017 when the […]
Va. Coalfield Economic Development Authority establishes $1M Renewable Energy Fund
The Virginia Coalfield Economic Development Authority (VCEDA) announced Thursday it has established a $1 million Renewable Energy Fund from coal tax credit funds. “With the establishment of the Renewable Energy Fund, VCEDA is poised to readily assist in the development of renewable energy projects, which will add new jobs and investment to the region and […]
Northam announces $10M investment in oyster restoration
Gov. Ralph Northam on Thursday visited the Elizabeth River Project’s Learning Barge to announce $10 million in funding to support future Chesapeake Bay oyster restoration — marking the first time Virginia capital funds have been directed toward restoring natural resources. “Virginia has made tremendous progress in improvi[...]
