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HII names new president and CEO
Christopher D. Kastner will become president and CEO of Newport News-based Huntington Ingalls Industries, the nation’s largest military shipbuilder, on March 1. Mike Petters, who has served as the Fortune 500 company’s president and CEO since Northrop Grumman Corp. spun off its shipbuilding division in 2011, will bec[...]
Hilb Group founder to lead acquisitions for Virginia Beach firm
Robert “Bob” Hilb will lead mergers and acquisitions at Virginia Beach-based insurance agency Choice Financial Group and continue to serve as a senior adviser and board member, the company announced Wednesday. “Bob’s experience and knowledge assisted my agency in achieving 700% growth from 2018 to 2021,” Richard Braun,[...]
Port of Va. had $100B+ economic impact in FY21
Amid some of the toughest months of the pandemic, the Port of Virginia set cargo records, processing more than 3.2 million TEUs (20-foot equivalent units) for the fiscal year ending June 30, 2021, and generating more than $100.1 billion in ancillary economic impact, according to the port’s fiscal 2021 economic impact repor[...]
ODU’s Strome Center to host tech entrepreneur weekend
Old Dominion University’s Strome Entrepreneurial Center will hold its 3 Day Startup weekend entrepreneurship program, where participants develop and pitch a product, from Feb. 4 to Feb. 6. ODU previously held the program in 2018, 2019 and 2021. This year’s event is focused on technology solutions. Attendees form groups on Friday afternoon and begin to […]
Elizabeth River Crossings announces CEO
Elizabeth River Crossings OpCo LLC (ERC) has promoted Anna Bonet to CEO, the company announced Wednesday. ERC finances, operates and maintains the Elizabeth River Tunnels from Portsmouth to Norfolk. Bonet joined ERC as deputy CEO in September 2021 and worked with former CEO David Sullivan, who announced his retirement last week.[...]
Va. economic growth will slow in 2022, ODU economists predict
Virginia’s economy is likely to grow at a slightly slower pace in 2022 than it did last year, with the COVID-19 pandemic continuing to make future predictions murky, according to the 2022 Annual Economic Forecast released Wednesday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. “If we can [...]
Va. housing market broke records in 2021
Last year Virginia’s housing market was one for the record books, according to a new report released Jan. 21 by Virginia Realtors. In 2021, there were 154,340 home sales statewide, a 10.2% increase over 2020, according to the industry association. The median sales price was $350,000, a $30,000 jump, or 9.4% increase, from the previous […]
Elizabeth River Crossings CEO announces retirement
Elizabeth River Crossings OpCo LLC (ERC) CEO David Sullivan announced his retirement, effective Jan. 21. ERC finances, operates and maintains the Elizabeth River Tunnels. A new CEO will be named next week. ERC owners Abertis Infraestructuras S.A. and Manulife Investment Management named Sullivan CEO in January 2021. He had previ[...]
Hampton Roads home sales steady at end of 2021
The number of listings in the Hampton Roads real estate market dropped significantly, sales increased, and inventory dropped to a new low in December 2021, Real Estate Information Network Inc. reported. Last month, there were 2,821 active listings, down 26% year-over-year when compared to active listings in December 2020. But the number of properties that […]
Recycling joint venture to create 210 jobs in Chesapeake
Two sustainable development companies — New Jersey-based Kamine Development Corp. and Minnesota-based Nicollet Industries LLC — will invest $267 million to establish a joint venture paperboard recycling and production facility in Chesapeake, a project expected to create 210 jobs, Gov. Ralph Northam announced Tuesday. The 335,000-square-foot Celadon Development Corp. facility will be at the Chesapeake […][...]
Ore. vacation rental company buys two Va. Beach businesses
Portland, Oregon-based vacation rental management company Vacasa announced Monday it had acquired two Virginia Beach companies: Sandbridge Realty and Beach Pros Realty. Vacasa did not disclose financial details of the transactions. The acquisitions mark Vacasa’s entry into Virginia. “Virginia Beach is a highly sought-after East Coast vacation spot. …The homes managed by Sandbridge Realty and […][...]
Calif. aerospace company proposes Accomack County facility
Accomack County is a finalist for a proposed Rocket Lab USA Inc. facility, Gov. Ralph Northam announced Tuesday. If the county is selected, Long Beach, California-based aerospace company Rocket Lab would develop a facility to support part production, assembly, integration and test operations to support the launch of its Neutron launch vehicle from the NASA […]
