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Petersburg sues to demolish old Ramada
The city of Petersburg filed a lawsuit Friday against the company owned by developer and former NFL player Chris Harrison, who promised in 2015 to replace the city’s shuttered and dilapidated Ramada Inn with a brand-new hotel, 100 apartment units and retail space. Six years later, redevelopment has not taken place. In Frid[...]
W.Va.-based United Bankshares to acquire Essex Bank for $303M
Henrico County-based Community Bankers Trust Corp., the parent company of Essex Bank, has entered into a $303.3 million deal to be acquired by Charleston, West Virginia-based United Bankshares Inc., United Bank’s parent. After the companies announced the agreement Thursday, Community Bankers Trust’s stock rose 29.78% as of mid-afternoon to $11.94 per share and United Bankshares’ […][...]
39 Virginia companies make 2021 Fortune 1000 list
Thirty-nine Virginia-based companies made Fortune magazine’s 67th annual Fortune 1000 list, which was released Wednesday. The list ranks the 1,000 largest United States corporations by total revenue. Twenty-two companies made the elite Fortune 500 list, including Fortune 500 newcomer CACI International Inc., which was ranked at No. 473 this year. It was ranked No. 549 […]
Petersburg grows pharma manufacturing hub
A cluster of recent investments by pharmaceutical companies in Petersburg could set the city up to rebuild its manufacturing sector as a major player in U.S. efforts to create and secure a domestic supply chain for producing essential medicines at risk of shortages. The development centers around the AMPAC Fine Chemicals plant[...]
Goddard retiring next year as ChildFund president, CEO
Anne Lynam Goddard plans to retire next year as president and CEO of Richmond-based global nonprofit ChildFund International, the organization announced Thursday. Goddard’s departure in May 2022 will come after 15 years at the helm of the 83-year-old organization, during which its name changed from Christian Children’[...]
UVA Health names new chief external affairs officer
UVA Health has hired Inova Health Systems executive Jennifer W. Siciliano as its new chief external affairs officer, starting Aug. 11. In her new role, Siciliano will build relationships with elected officials and their staff members at local, state and federal levels. “I am excited to join one of the nation’s leading academ[...]
California manufacturer opening $9.1M facility in Fluvanna
Stewart Tool Co. Inc., a California-based prototype-to-production manufacturer, will invest $9.1 million to establish its first East Coast manufacturing operation in Fluvanna County, creating 22 jobs. The company plans to renovate the former Kloeckner Metals facility in Fluvanna’s Troy area. “We were looking for a location close to the East Coast operations of our major […]
M.C. Dean announces phase 2 of $25M expansion in Caroline
Tysons-based M.C. Dean Inc. announced Monday it has entered the second phase of its $25 million expansion, breaking ground on an 84,000-square-foot modular manufacturing and systems integration facility at its Center for Innovation and Industry in Caroline County. The electrical engineering firm designs, builds, operates and maintains cyberphysical solutions for clients including local, state and […][...]
HHHunt Corp. invests $247M in Southeast U.S. projects
Richmond-based real estate developer and builder HHHunt Corp. announced last week it has invested $247 million in residential communities in Charlotte and Raleigh, North Carolina, as well as plans to expand in the South Carolina, Nashville and Atlanta markets. With the expansion of the company’s investment in the Southeastern United States, it has announced changes […]
Breeze Airways setting up base in Norfolk
Breeze Airways, a new low-cost airline, will invest $5.2 million to build an operations center in Norfolk, producing 116 jobs, the governor’s office announced Friday. The airline also will offer nonstop flights out of Richmond International Airport and Norfolk International Airport. The Salt Lake City, Utah-based startup c[...]
Richmond panel recommends $600M Urban One casino proposal
The city of Richmond’s casino advisory panel has recommended Silver Spring, Maryland-based Urban One Inc.’s $600 million ONE Casino + Resort proposal to move forward for consideration by City Council and citizens, Mayor Levar Stoney’s office announced Thursday. If Council approves the recommendation and voters [...]
Richmond-based GPM Investments closes on ExpressStop purchase
Richmond-based GPM Investments LLC became the nation’s sixth-largest convenience store chain Wednesday, after closing on its acquisition of the ExpressStop chain, including 60 gas station convenience stores in Michigan and Ohio. Financial terms were not disclosed. The acquisition, which was announced in March, adds to GPM’s existing 165 stores in Michigan and nine in Ohio. […]
