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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[...]
VCU raises $841.6M in record fundraising campaign
Virginia Commonwealth University announced Thursday it raised more than $841.6 million through its Make It Real Campaign — exceeding its goal of $750 million and marking the university’s largest campaign to date. The campaign launched publicly in September 2016 after a silent period that began in 2012. It closed this June, a year after it […]
Telos Corp. goes public with $254M IPO
Ashburn-based cybersecurity federal contractor Telos Corp. announced Thursday it plans to raise $254 million in an initial public offering. The $14.9 million shares of common stock at a price of $17 per share are listed on the Nasdaq under the ticker symbol TLS — and were up by 12% on Thursday afternoon. The offering is […]
Loudoun County launches outdoor seating grants
While COVID-19 cases run high and outside temperatures run low, the Loudoun County Board of Supervisors has allocated $250,000 in federal CARES Act funding to offset costs for outdoor dining, including seating, tents, heating systems and heating fuel, Loudoun Economic Development announced Thursday. The Loudoun Is Ready Outdoor [...]
Mars Inc. acquires healthy snack company
McLean-based global food product manufacturer Mars Inc. announced Tuesday it has acquired healthy snack manufacturer Kind North America. Transaction details were not disclosed. Mars is the largest private company in Virginia. With annual sales of more than $35 billion, the candy and food manufacturer produces brands such as Snickers, M&Ms and Pedigree pet foods. Founded […]
Alexandria software company buys Reston IT services firm
Alexandria-based software and IT company Gunnison Consulting Group Inc. announced Thursday it has acquired Reston-based IT services firm Global Solutions & Services Frameworks (G2SF). Transaction details were not disclosed. Gunnison provides software development, data analytics and cybersecurity services to federal government customers, while G2SF provides IT service management, mobility engineering and management, cybersecurity e[...]
Initial jobless claims rise as extended benefits come to an end
As the U.S. Department of Labor notified the Virginia Employment Commission that the state’s extended benefits program would end on Nov. 21, more than 11,000 Virginians filed initial jobless claims and more than 85,000 filed continued claims. Under the extended benefit program, Virginians who had already used regular unemployment insurance benefits as well as any […]
