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Pandemic brings end to decade of job gains
The public health crisis brought an unanticipated end to 11 straight quarters of economic growth and nearly a decade of job gains in Virginia, according to Old Dominion University’s 2020 State of the Commonwealth Report, released on Dec. 20 by ODU’s Dragas Center for Economic Analysis and Policy. “The COVID-19 pandemic has dramatically affected how […]
State COVID-19 cases continue to climb
The state saw 25,741 new COVID-19 cases and 240 more deaths last week, according to the Virginia Department of Health’s Dec. 21 update. The current seven-day positivity rate is 11.4%, an increase from 10.9% a week ago. The increase comes as a COVID-19 model developed at the University of Virginia predicts an additional 402[...]
Va. unemployment rate fell less than 1% between October and November
Virginia’s seasonally adjusted unemployment rate fell by less than 1% between October and November to 4.9%, according to employment statistics released Friday by the Virginia Employment Commission — but unemployment still remains 2.2% higher than the same time last year. The labor force grew by 0.4% to 4.28 million between October and November, while the […]
Chesapeake shopping center sells for $5.1M
A shopping center in Chesapeake sold for $5.1 million, Colliers International announced earlier this week. The 75,023-square-foot Cahoon Commons Shopping Center is located at 644-648 Grassfield Parkway. The property is currently 25% occupied by tenants including Chesapeake Regional Medical Center, Virginia Alcoholic Beverage Con[...]
Navy awards potential $797.3M contract extension to Perspecta
The U.S. Navy awarded a potential $797.3 million extension to Chantilly-based federal contractor Perspecta Inc. for its Next Generation Enterprise Network (NGEN) contract for network support, net centric data and information technology support services, the U.S. Department of Defense announced Thursday. Under the contract extension, Perspecta will provide information security, testing, voice, video and data […][...]
Va. expects about 110,000 fewer doses of COVID-19 vaccine than previously announced
Virginia expects to receive 370,650 doses of the COVID-19 vaccines from Pfizer Inc. and Moderna by the end of the year instead of 480,000 as previously announced, the Virginia Department of Health said Friday. Operation Warp Speed, the federal response for vaccinating millions of Americans, informed VDH late Thursday of the decr[...]
Dominion files construction, operations plan for $7.8B offshore wind farm
Richmond-based Dominion Energy Inc. announced Friday it has filed the required construction and operations plan (COP) with the Bureau of Ocean Energy Management to build the utility’s proposed $7.8 billion, 2,640-megawatt Coastal Virginia Offshore Wind (CVOW) project. “This is an important step in the process toward [...]
Hilb Group announces third December acquisition
In its third acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Lexington County, South Carolina-based employee benefits consulting, management and brokerage firm Plan Benefit Services Inc. (PBSI), effective Dec. 1. Financial details of the acquisition were not disclosed. Founded in 1986, PBSI provides employee benefits, retiree benefits, individual […][...]
Medical office building in Chesterfield sells for $1.825M
A medical office building in Chesterfield County sold for $1.825 million, Cushman & Wakefield | Thalhimer announced Tuesday. Located at 13440-13460 Tredegar Lake Parkway, the single-story, 9,992-square-foot building sits near the intersection of Route 288 and Powhite Parkway. Vascular Surgery Associates, which has six additi[...]
Va. home sales up by 30% in November
Virginia home sales were up by more than 30% in November — marking the greatest increase in home sales activity in more than six years, according to data released Thursday by Virginia Realtors. During the month of November, there were 11,590 home sales in Virginia, an increase of 2,681 from the same time last year. Year-to-da[...]
Former CIA data science chief hired as CEO of Exovera
Reston-based defense and government contractor SOS International LLC (SOSi) announced Wednesday it has hired Barbara Stevens, the former Central Intelligence Agency (CIA) chief of data science, as CEO of its software subsidiary Exovera. “Dr. Stevens has more than three decades of experience building and leading complex data sc[...]
14K+ Virginians filed initial jobless claims last week
The number of initial jobless claims filed last week reached close to its Aug. 8 peak, with more than 14,000 Virginians filing initial unemployment claims, according to Virginia Employment Commission data released Thursday. The week prior, initial claims reached more than 16,000. While there was a 12.9% decrease in claims from the previous week, the […]
