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Norfolk eyes two former school sites for development
The Norfolk city government is soliciting help to figure out how to transform two former school sites into significant assets that generate tax revenue. The city government has sent out two Requests for Information asking professional real estate development firms to provide insights on how it should develop the former Coronado [...]
Richmond water crisis shuts down many restaurants, businesses
Jan. 9 update: Richmond starts water testing, but city remains under boil water advisory “Dry January” became all too literal in Richmond, where most city residents and businesses were struggling with a water outage that started Monday afternoon and was still leaving much of a city with a population of more than 225,[...]
Leidos wins TSA contract worth up to $2.6B
Reston-based Fortune 500 federal contractor Leidos has won Transportation Security Administration contract worth up to $2.6 billion, according to a Tuesday notice on SAM.gov. TSA awarded the TSA Checkpoint Integrated Logistics Support Services contract for checkpoint maintenance services on Dec. 31, 2024. According to the reque[...]
Booz Allen to pay $15.8M fine to settle fraud allegations
Booz Allen Hamilton, the McLean-based Fortune 500 global management consultant, has agreed to pay a $15.875 million fine to the federal government to settle allegations that one of its subsidiaries violated the False Claims Act, the Department of Justice announced Jan. 3. According to the DOJ’s statement, two former progra[...]
Smithfield Foods files for IPO
Virginia’s Smithfield Foods announced Monday it has filed a registration statement to the U.S. Securities and Exchange Commission for its initial public offering. This is the first step toward the pork and packaged meats giant’s plan of selling common stock on the Nasdaq Global Select Market under the ticker symbol S[...]
Herndon office building portfolio sells for $51M
A portfolio of four office buildings in Herndon sold for $51 million, Finmarc Management announced Thursday. Dubbed Dulles Corner, the four buildings comprise nearly 620,000 square feet of Class A office space. Located at the intersection of Dulles Toll Road and Virginia Route 28, the properties are: 2411 Dulles Corner Park, an [...]
Buc-ee’s estimates first Va. location to open in June
Leave it to beaver — the behatted mascot of mega-travel center chain Buc-ee’s, that is. Texas-based Buc-ee’s projects it will open its first travel center in Virginia — its 74,000-square-foot Rockingham County location — on June 30, although the opening date is not set in stone, Buc-ee’s Media Coordinator[...]
Virginians bet almost $761M on sports in Nov. 2024
Virginians bet more than $760.96 million on sports in November 2024, 19.1% more than they bet in November 2023, according to Virginia Lottery data released Tuesday. Virginia bettors won more than $674.6 million in November. About $756.76 million of November’s gross sports gaming revenues came from mobile operators, with th[...]
Micron to invest $2.17B in Manassas expansion
Semiconductor company Micron Technology will invest up to $2.17 billion to expand its Manassas manufacturing facility, creating an expected 340 jobs, Gov. Glenn Youngkin announced Monday. Micron will modernize the plant at 9600 Godwin Drive to produce dynamic random-access memory (DRAM) chips for automotive, aerospace, defense a[...]
GDIT wins $5.57B contract to upgrade military communications system
Falls Church-based General Dynamics Information Technology, a business unit of Reston Fortune 100 defense contractor General Dynamics, has won a $5.57 billion contract from the Air Force Mission Partner Capabilities Office, it announced Friday. Awarded in November, the single-award, indefinite-delivery, indefinite-quantity contr[...]
Youngkin proposes eliminating tax on tips in Va. budget
Gov. Glenn Youngkin announced Monday a budget proposal to exempt service tips from Virginia’s state income tax, an idea that’s gained bipartisan support federally. In a statement, Youngkin said that Virginians who receive tips — hair stylists, restaurant workers, bellhops and other service industry professionals �[...]
Business Facilities names Virginia 2024 State of the Year
Business Facilities has named Virginia its 2024 State of the Year, recognizing the state’s business environment and economic development success, the publication announced Monday. The award comes in the same year as Virginia’s sixth No. 1 ranking as CNBC’s Top State for Business, awarded in July. Virginia previ[...]
