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Youngkin to propose $350M for site development
Gov. Glenn Youngkin will propose allocating a new $350 million investment for industrial site development next week, the governor said in a speech delivered Friday at the Virginia Chamber’s Virginia Economic Summit & Forum on International Trade. In the 2022-24 budget, which Youngkin signed in June, the state allocated $15[...]
Barkin: To address inflation, U.S. must rethink labor
As the U.S. moves to a short-labor environment, it will be necessary for businesses, governments and nonprofits to reassess their approach to labor, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Friday in Richmond. Speaking at the Virginia Chamber’s 2022 Virginia Economic Summit and Forum on International [...]
SAIC wins $171M IT contract
Reston-based Fortune 500 contractor Science Applications International Corp. has received an IT contract valued up to $151 million from the U.S. Transportation Command, the Pentagon announced Thursday. Under the contract, SAIC will manage and support operations and modernization of the command’s IT systems and applications. The work includes classified and unclassified programs on multiple networks and […][...]
$400M Bristol casino to break ground Dec. 7
Virginia’s first casino, the Hard Rock Hotel & Casino Bristol, is getting closer to moving into its permanent home. Officials will break ground at the casino’s permanent home at the former Bristol Mall, at 500 Gate City Highway in Bristol on Dec. 7, the casino announced Thursday. The $400 million permanent casino[...]
LMI acquires national security software company
Tysons-based consultancy LMI has acquired Colorado Springs, Colorado-based Synaptech, according to a news release. Terms of the deal were not disclosed. Synaptech creates digital engineering, modeling and simulation software for the national security and space industries. “LMI is thrilled to be entering the fast-paced, growing space market by acquiring Synaptech, which protects our nation’s national […][...]
Fed’s Fifth District economy expands slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has expanded slightly since October, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book[...]
Noblis defense unit receives $187M Navy contract
A subsidiary of Reston-based Noblis Inc. has received a contract worth up to $187 million to provide command, control, communications, computers, intelligence, surveillance and reconnaissance engineering services to the Navy, according to a news release. Noblis’ mission solutions for defense subsidiary will provide end-to-end engineering services to the Naval Information Warfare Center Pacific Network Integration […][...]
Granules India announces $12.5M pharma facility
Indian pharmaceutical company Granules India Ltd. will invest $12.5 million to establish a pharmaceutical packaging operation in Prince William County, creating 57 jobs, Gov. Glenn Youngkin announced Wednesday. Headquartered in Hyderabad, India, Granules India manufactures active pharmaceutical ingredients and other related products, including acetaminophen, ibuprofen and guaifenesin, the main ingredient in Mucinex. Granules India serve[...]
Staying the course
A tanking economy. Rampant inflation. Whiplash in the stock market. What’s an investor to do? Look for opportunities to rebalance portfolios but, in general, hang tight, wealth management professionals say. Or, as one adviser says, buckle up for a roller coaster ride. The economy is likely to worsen, experts say, and despite d[...]
Virginia 500 Spotlight: Catherine Buell
Director, Amazon Housing Equity Fund, Amazon.com Inc. Arlington County WHAT WOULD A COMPETITOR SAY ABOUT YOU? Much like the Roomba vacuum cleaner, Catherine is “pleasantly persistent” and doesn’t give up. She will keep at it, work to find a middle ground and show results. WHAT I’VE LEARNED: Don’t forget to have fun al[...]
Technomics to add 150 jobs in Arlington
Government contracting firm Technomics Inc. is investing $1.7 million to expand its Arlington headquarters and add 150 jobs, Gov. Glenn Youngkin announced Tuesday. Technomics is an employee-owned consulting firm that specializes offers a variety of analytics services for federal and international government clients. The company will lease an additional 10,000 square feet at 1225 South […]
Leonardo DRS completes merger, goes public
Arlington-based defense contractor Leonardo DRS Inc. is now a public company. The company began trading on the Nasdaq composite Tuesday morning, opening at $11.50, following the completion Monday of its all-stock merger with Israel-based Rada Electronic Industries Ltd. to form a $3 billion company. The companies announced thei[...]
