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General Dynamics, HII subsidiaries receive $14.58B in Navy contracts
Reston-based General Dynamics’ Bath Iron Works subsidiary and Newport News-based Huntington Ingalls Industries’ Ingalls Shipbuilding will construct Arleigh Burke-class guided missile destroyers for the Navy during the next 10 years under contracts valued up to $14.58 billion. The Pentagon announced the contracts Aug.[...]
Fed Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is ba[...]
Dominion announces $14B sale of three natural gas companies
Richmond-based Fortune 500 utility Dominion Energy is selling its three natural gas distribution companies to Canadian pipeline and energy company Enbridge Inc. in a $14 billion deal announced Tuesday afternoon. Enbridge on Tuesday announced that the sale creates the largest natural gas utility franchise in North America. The co[...]
Va. broadband goal includes access for all by 2027-2028
A new five-year plan calls for connecting more than 162,000 Virginia businesses and homes that currently lack broadband access to high-speed internet by 2028. On Friday, Gov. Glenn Youngkin released the plan, as well as volume 2 of the state’s initial proposal outlining its strategies under the federal Broadband Equity, Access and Deployment (BEAD) program. […]
Leidos lands $7.9B Army contract
Reston-based Leidos has won a 10-year, $7.9 billion contract from the Army, the Pentagon announced Thursday. Under the firm-fixed-price contract, Leidos will provide hardware systems, system management solutions, components, customizable sustainment strategies, non-personal service and continuous technology upgrades. Leidos was [...]
Richmond casino reintroduced with new name
The corporate backers of a $562 million Richmond casino on Thursday unveiled a new name for the resort casino city voters will consider approving this fall: Richmond Grand Resort & Casino. But not much else appears to be new about the proposed project. Many of the features of the proposed ONE Casino + Resort that […]
Groundworks promotes two execs to C-suite
Virginia Beach-based Groundworks has promoted two employees, including one to chief sales officer and another as chief revenue officer, the foundation and water management solutions company announced Thursday. Ben Flowers has been promoted from vice president of Groundworks’ southern division to chief sales officer, a new role[...]
Va. Tech names chief of staff for university operations
Virginia Tech has named Brennan Shepard its chief of staff for university operations. Shepard was most recently director of financial planning in the the university’s Office of Budget and Financial Planning and has served in various roles in the finance division over the past 15 years. He officially began his new role on A[...]
Va. Lottery reports record $4.6B in FY23 revenue
Virginia Lottery reported $4.6 billion in sales for fiscal 2023, the first time its sales have broken $4 billion, and record profits of $867 million. Profits increased almost 10% from the last fiscal year, when the lottery reported $779.6 million. The lottery’s fiscal year ends on June 30, and the lottery board announced the r[...]
Virginia ABC: Vodka is Va.’s best-selling spirit
Tito’s Handmade Vodka notched its sixth year as the commonwealth’s most popular liquor at Virginia Alcoholic Beverage Control Authority stores in fiscal 2023. According to VABC, the Austin, Texas-based craft vodka accounted for $72 million in sales in fiscal 2023, up $5.1 million over the prior year. Tito’s out[...]
Deltek names new CFO
Deltek has named Dean Tilsley its chief financial officer, the Herndon-based software company announced Thursday. Tilsley most recently served as CFO for Renaissance Learning, a Wisconsin-based educational software-as-a-service and learning analytics company. In his new role, Tilsley will support growth across Deltek’s po[...]
VIPC leader to step down
Virginia Innovation Partnership Corp. President and CEO Robert “Bob” Stolle will step down from his role in September after 13 years with the not-for-profit state corporation and its predecessor. Stolle became CEO of VIPC’s predecessor, the Center for Innovative Technology, in 2020. Before that, he was the economic develop[...]
