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NSU receives $1M donation for chair endowment
Retired Dominion Enterprises Inc. President and CEO Conrad M. Hall has donated $1 million to Norfolk State University, the university announced Friday. The gift from Hall, who serves on NSU’s board of visitors, will support the creation of an endowed chair, the Conrad M. Hall Endowed Chair in Constitutional and U.S. History, i[...]
ASRC Federal closes $350M purchase of SAIC logistics biz
The $350 million cash sale of Science Applications International Corp. (SAIC)’s logistics and supply chain management business to ASRC Federal Holding Company LLC is complete, the Reston-based companies announced Monday. ASRC and Fortune 500 tech contractor SAIC first announced the deal in March. With the sale’s completion, 240 SAIC employees transitioned to ASRC Federal. “We […]
Boeing reaches $40B deal with Ryanair
Irish air carrier Ryanair plans to order as many as 300 Boeing 737 MAX-10 aircraft from Arlington County-based Fortune 100 contractor Boeing Co. in a $40 billion deal, the two companies announced Tuesday. Subject to approval by Ryanair’s stockholders, the deal includes a firm order from the airline for 150 aircraft and an opti[...]
Richmond City Council approves Diamond District
Richmond City Council members voted unanimously Monday to approve the $2.44 billion Diamond District mixed-use development, which aims to include a replacement for the 38-year-old stadium of the Double-A Richmond Flying Squirrels baseball team by the end of 2025. Councilors also approved an ordinance to convey 61 acres of city-o[...]
Tree-trimming companies merge, announce new leaders
Two national tree-trimming and vegetation management companies have merged and announced new leadership. The merger of Norfolk-based Xylem Tree Experts with Lawrenceville, Georgia-based Kendall Vegetation Services was backed by Connecticut-based private equity firm Sterling Investment Partners. The new company will have dual h[...]
IT contractor to add 90 jobs in Fairfax
Reston-based Dev Technology Group will invest $366,000 to expand in Fairfax County, adding 90 jobs, Gov. Glenn Youngkin announced Monday. The investment includes 10,000 square feet of additional office space. Founded in 1998, Dev Technology Group provides IT services to the federal government, including the Department of Homeland Security, the Commodity Futures Trading Commission, multiple […][...]
Blue Ridge Bank names CEO
G. William “Billy” Beale became CEO of Blue Ridge Bank National Association on Sunday, giving the bank a leader separate from that of its parent company, Charlottesville-based Blue Ridge Bankshares Inc. “I am excited to have the opportunity to join this team at a critical time in the banking industry,” Beale said in a st[...]
Virginia Business wins 18 Va. Press Association awards
Virginia Business won 18 awards in the Virginia Press Association’s 2022 News & Advertising Contest, taking a Best in Show prize for illustration and sweeping the News Writing Portfolio category, the state organization announced Saturday. The annual contest recognizes excellence in design, writing, photography, illustratio[...]
VCU Health paid $72.9M to back out of development
VCU Health paid nearly $73 million to back out of a $325 million development deal earlier this year, according to Dr. Marlon Levy, CEO of the health system and Virginia Commonwealth University’s interim senior vice president for health sciences. The project, known as the Clay Street Project, included plans for a medical [...]
Convenience products distributor to double size in Salem
Layman Distributing, a woman-owned wholesale distributor of convenience and grocery store products, will invest $6.8 million to expand in Salem, adding 42 jobs, Gov. Glenn Youngkin announced Friday. The company will relocate to a facility at 2157 Aspersion Drive, doubling its current square footage and operational capacity. Founded in 1948, the company is currently located […]
Agtech startup to invest $25M in Albemarle expansion
Agricultural biotech startup AgroSpheres will invest $25 million to expand in Albemarle County, creating an estimated 50 jobs, Gov. Glenn Youngkin announced Thursday. The company will increase production at its facility at 1180 Seminole Trail and build a research and development and demonstration facility for new products, which will be a pilot plant for a […]
Henrico strip mall, industrial buildings sell for $7.25M
Fernau LeBlanc Investment Partners has sold Wistar Center, a three-building flex industrial and retail portfolio, in Henrico County, to Prudent Growth Partners LLC for $7.25 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced. The portfolio, at 8101-8157 Staples Mill Road, consists of approximately[...]
