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Navy awards $1.1B more for sub construction
General Dynamics Corp.’s Groton, Connecticut-based Electric Boat Corp. has received nearly $1.1 billion more from the Navy to continue building Virginia-class submarines, and its teammate, Newport News Shipbuilding, has received a $305 million chunk of that award to procure long-lead time material and components for the [...]
SAIC lands $249M Navy air warfare contract
Reston-based Science Applications International Corp. will continue servicing combat instrumentation platforms used by the Naval Air Warfare Center Weapons Division for training and test evaluation under a potential $249 million contract, the Fortune 500 contractor announced Tuesday. Under the contract, SAIC will perform systems design and integration, hardware and software upgrades and modifications for combat […][...]
Inova receives $75M donation for heart, vascular programs
Northern Virginia philanthropists Dwight and Martha Schar have made a $75 million matching gift to support Inova Health System’s heart and vascular treatment programs, Inova announced Tuesday. The Schars have donated a total of $126 million to the Falls Church-based health system since 1993, including $50 million in 2015 t[...]
Alexandria’s QED Investors raises $925M for two new funds
Alexandria-based fintech venture capital firm QED Investors raised $925 million for two new funds, QED announced Tuesday. The funding comes from two capital commitments: a $650 million oversubscribed early stage fund and a $275 million early growth stage fund, according to a news release from QED, a key investor in San Francisco[...]
SWVA ‘ideal’ for small nuclear reactors, study says
Sites in Dickenson, Lee, Scott and Wise counties and the city of Norton would be “ideal” for installing small modular nuclear reactors (SMRs), according to a state-funded feasibility study released Monday. Examining the technical feasibility, safety considerations and economic viability of locating small reactors in [...]
DISYS and acquired company rebrand as Dexian
McLean-based staffing firm Digital Intelligence Systems LLC (DISYS) and Florida-based Signature Consultants LLC have rebranded their combined company as Dexian, DISYS announced Monday. DISYS first announced its acquisition agreement with Signature Consultants in April 2021. The new company has a combined revenue of more than $1[...]
$5.4B Tegna sale is terminated
The deadline has expired on hedge fund Standard General LP’s $5.4 billion bid to acquire Tysons-based publicly traded broadcasting giant Tegna Inc. The largest owner of NBC affiliates, Tegna has 64 television stations in 51 U.S. markets and reaches 39% of all television households nationwide. The stalled agreement was term[...]
Amazon begins HQ2 move-in
Amazon.com Inc. is moving more than 8,000 employees into the first phase of HQ2, its $2.5 billion East Coast headquarters in Arlington’s emerging National Landing area, this week. The e-tailer plans to officially open HQ2’s first phase, Metropolitan Park (Met Park), in June and to complete its move-in by the end of t[...]
United Way of SWVA to open workforce hub
The United Way of Southwest Virginia plans to convert an 87,000-square-foot former Kmart in Abingdon into a workforce development hub, an estimated $23 million project, the United Way chapter, Food City and town of Abingdon announced Friday, May 19. Construction is set to begin in July, and UWSWVA expects to open the building in[...]
Potomac Yard-VT Metro station opens in Alexandria
In its heyday during World War II, Potomac Yard handled freight for six different railroads and employed 1,500 workers to keep trains moving, until it succumbed to economic pressures. On Friday, after decades of planning, the transformed former rail switching yard opened as Metro’s 98th station, serving the Yellow and Blue[...]
Construction begins on $135M Loudoun biz park’s first phase
Construction has started on the first four buildings in an approximately $135 million, 10-building business community in Dulles, project owner-developer St. John Properties Inc. of Baltimore announced Wednesday. The project, Arcola Center, will be a 34-acre business park at the intersection of Loudoun County Parkway and Dulles W[...]
Two retail, office buildings in Chesapeake sell for $3.1M
Two buildings with retail and coworking spaces on South Military Highway in Chesapeake have sold for $3.1 million, Cushman & Wakefield | Thalhimer announced Monday. The 38,800-square-foot and 10,000-square-foot buildings sit on 4.7 acres at 2211 S. Military Highway. The property’s 31 tenants include Amazon.com Inc., FedEx [...]
