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7 Va. companies make 2024 Fortune Global 500
Seven Virginia-based companies made Fortune magazine’s 35th Global 500 list, released Monday. Companies were ranked by total revenues for fiscal years ending on or before March 31. McLean’s Freddie Mac remained the commonwealth’s top-ranked company at No. 88 — up 45 spots from 2023. The government-sponsored home mortgage[...]
Henrico EDA buys $3M golf course, plans $11M renovation
Henrico County’s economic development authority has purchased The Crossings Golf Club for $3 million, and with partners Pros Inc. and the Henrico Sports & Entertainment Authority, it plans to pitch the course as the new home for a PGA Tour Champions golf event held at the Country Club of Virginia. Pros Inc. expects to [...]
Va. Lottery reports record $5.5B in FY24 sales
Virginia Lottery reported a record-breaking $5.5 billion in sales for fiscal 2024 and highest ever profits of $934 million, Gov. Glenn Youngkin announced Wednesday. In fiscal 2023, the state lottery reported $4.6 billion in revenue and $867 million in profits, which set the previous records for the state agency, which opened 3[...]
CGI Federal to acquire Vienna government contractor
CGI Federal, the U.S. arm of Montreal-based IT and professional services consultancy CGI, announced this week it plans to acquire Aeyon, a Vienna-based federal IT consulting firm. The purchase, for which terms were not disclosed, is expected to close by the end of September. With 725 employees, Aeyon has been owned by Enlighte[...]
Kroger names new mid-Atlantic president
Kroger has named Kate Mora president of its mid-Atlantic division, replacing Lori Raya, who’d held the role since 2021 and is retiring, according to a Tuesday news announcement by the grocery store chain, which has nearly half a million employees across 2,800 stores in 35 states, including 68 stores in Virginia. Mora will wo[...]
Glen Allen’s Dynex Capital names co-CEO
Glen Allen’s Dynex Capital has named Smriti Laxman Popenoe its co-CEO, the real estate investment trust announced in July. With more than three decades of experience in capital markets and investing, Popenoe will lead with Byron Boston, who remains chairman and co-CEO. Popenoe also will remain president and chief investment [...]
Va. tourism generated $33.3B for 2023
Virginia’s tourism industry generated $33.3 billion in visitor spending in 2023, an increase of nearly 10% over 2022, Gov. Glenn Youngkin announced Monday. “The commonwealth’s record-breaking visitor spending numbers are a testament to our abundance of attractions and unique destinations,” Gov. Youngkin stated in a news release. Virginia’s tourism industry supported over 224,000 jobs in […][...]
Youngkin: Va. spawned 10,000+ startups in 2022-23
More than 10,000 high-growth and high-wage startup companies were created in Virginia during 2022 and 2023, according to research conducted by Richmond’s Chmura Economics & Analytics for the Virginia Innovation Partnership Corp. On Thursday, Gov. Glenn Youngkin announced this achievement at an event at Zebox America, an [...]
BAE Systems receives $493M Army contract
Falls Church-based BAE Systems Inc. has received a $493 million U.S. Army contract to produce M109A7 self-propelled howitzers and M992A3 ammunition carriers, the U.S. arm of British defense giant BAE Systems plc announced Aug. 2. The contract’s production and deliveries are scheduled between August 2025 and July 2026. The M109[...]
Solar startup moving into Bedford plant, creating 104 jobs
Solar energy startup Solarix plans to invest $63 million to start a solar module manufacturing facility in eastern Bedford County and create 104 jobs, the company, the Lynchburg Regional Business Alliance and the Bedford County Office of Economic Development announced Thursday. Solarix, which bills itself as a 100% American-ow[...]
Virginia Credit Union-Member One merger approved
Virginia Credit Union’s merger with Roanoke-based Member One Federal Credit Union was finalized Thursday, following a vote by Member One’s customers to approve the deal announced in January. Effective Thursday, Member One becomes a division of VACU “as the organization works toward full integration of its syste[...]
Transom Capital-backed BridgeTower Media acquires Virginia Business to cover nation’s “Top State for Business”
LOS ANGELES and GREENSBORO, NC — BridgeTower Media, the authoritative source for business insights, data-driven marketing solutions and events across more than 40 media and research brands, is acquiring Virginia Business. Virginia Business is the only publication dedicated to covering economic activity in every sector and ever[...]
