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Feb 15, 2024

Armada Hoffler to name Shawn Tibbetts as next CEO

Virginia Beach real estate investment trust Armada Hoffler expects to name Chief Operating Officer Shawn Tibbetts as its CEO next spring, when current CEO Louis Haddad plans to retire. Tibbetts has been promoted to president and will remain COO, Armada Hoffler announced Thursday. Tibbetts has been COO since he joined the company[...]

Feb 15, 2024

Lego delays Chesterfield production start to 2027

Lego Group will begin production at its $1 billion Chesterfield manufacturing facility in 2027, at least a year later than originally planned, the Danish toymaker announced Thursday.  The company also named Preben Elnef as project lead and Gray | Hourigan, a joint venture between Lexington, Kentucky-based Gray and Richmond-base[...]

Feb 14, 2024

Bills advance to protect state employees who access medical cannabis

RICHMOND, Va. — State lawmakers have advanced bills that would allow public sector employees to use medical cannabis without losing their job. House Bill 149, introduced by Del. Dan Helmer, D-Fairfax, extends to state public employees rights that already exist in the private sector. The bill passed with bipartisan support on a[...]

Photo by Randy Duchaine / Alamy Stock Photo
Feb 13, 2024

CoStar Group moving global HQ to Arlington

UPDATED: Feb. 16, 10 a.m. CoStar Group, which already has a major presence in Richmond, will invest $20 million to move its global corporate headquarters from Washington, D.C., to Arlington County’s Rosslyn area, Virginia Gov. Glenn Youngkin announced Tuesday. Known for its online real estate marketplaces Apartments.com an[...]

Feb 13, 2024

Trident Systems to add 50 jobs in Fairfax

Fairfax-based aerospace defense contractor Trident Systems plans to invest $3.7 million in an expansion of its Fairfax County operation, creating about 50 jobs, Gov. Glenn Youngkin announced Tuesday. Trident Systems, which was acquired by Chantilly-based LightRidge Solutions in July 2023, produces space electronic systems for the Department of Defense, NASA and the intelligence community. The […][...]

Feb 13, 2024

BlueHalo nears $1B in annual revenue with acquisition

Arlington-based tech contractor BlueHalo announced Tuesday it plans to acquire Maryland-based Eqlipse Technologies, a purchase that the company expects to bring its annual revenue to nearly $1 billion.  Eqlipse and BlueHalo are both portfolio companies of Arlington Capital Partners, and together, the combined company will have [...]

Feb 13, 2024

CEO Hunt leaving Va. Credit Union League

Carrie Hunt is leaving at the end of the month as president and CEO of the Virginia Credit Union League, and Chief Operating Officer Karima Freeman will serve as interim head of the trade association, VACUL announced Tuesday. Hunt, a seasoned political lobbyist, is leaving to become chief advocacy officer of America’s Cred[...]

Feb 12, 2024

Bills to cap rent increases don’t advance this session

RICHMOND, Va. — State lawmakers did not advance legislation this session that aimed to slow rising rent prices, although affordable housing remains a big concern for constituents.   Two proposed bills would have allowed localities to adopt anti-rent gouging provisions, prevent landlords from increasing rent without at least t[...]

Feb 12, 2024

Lucas: Alexandria arena deal is dead as far as she’s concerned

A bill that would establish a state authority for the proposed Alexandria basketball and hockey arena is not on the Virginia State Senate’s Finance and Appropriations Committee’s docket “because [Gov. Glenn Youngkin’s] proposal is not ready for prime time,” wrote Sen. Louise Lucas, the committeeR[...]

Feb 12, 2024

Va. Beach apartment complex sells for $36M

Dove Landing, a 318-unit apartment complex in Virginia Beach, has changed hands, Berkadia announced Jan. 31. Chesapeake-based Community Investment Group bought the property for $36 million from Enterprise Community Development, a nonprofit affordable housing provider in the mid-Atlantic, according to a news release from Berkadi[...]

Mack Trucks invested $13 million to start production on a new line of medium-duty trucks in Roanoke County last year, hiring 250 workers. Photo courtesy Mack Trucks Inc.
Feb 9, 2024

Mack Trucks will expand Roanoke County facility

North Carolina-based Mack Trucks, a division of Sweden-based Volvo Group, will invest $14.5 million to expand its Roanoke County manufacturing operation, a project expected to create 51 jobs, Gov. Glenn Youngkin announced Friday. Mack Trucks, a medium- and heavy-duty trucks producer, will add 72,000 square feet to its current fa[...]

Feb 8, 2024

Lighthouse Labs announces spring cohort

Richmond-based Lighthouse Labs’ next accelerator cohort of eight startups will include companies creating products for the real estate and health care industries. The 16th cohort since Lighthouse Labs opened in 2012 will be part of the program from March 4 to May 17. The selected companies are: 3D Orthobiologic Solutions, [...]

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