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Vinton, Warsaw, Wytheville receive industrial revitalization funding
The towns of Vinton, Warsaw and Wytheville will receive a total of more than $1.4 million in state industrial revitalization fund (IRF) grants, Gov. Ralph Northam announced Friday. IRF funding provides gap financing for redevelopment projects that can lead to long-term employment opportunities. “This funding will not only help transform deteriorating or unused structures, it […]
Virginia Natural Gas donates $500K to Hampton University
Virginia Beach-based Virginia Natural Gas and its parent company, Southern Co., announced Thursday that the companies are donating $500,000 to Hampton University to support information technology infrastructure upgrades in light of new remote learning needs brought on by the pandemic. The funds, which are part of the Southern Co. Foundation’s $50 million HBCU (historically Black […]
Northam announces $10M investment in oyster restoration
Gov. Ralph Northam on Thursday visited the Elizabeth River Project’s Learning Barge to announce $10 million in funding to support future Chesapeake Bay oyster restoration — marking the first time Virginia capital funds have been directed toward restoring natural resources. “Virginia has made tremendous progress in improvi[...]
Norfolk startup initiative launches
The Norfolk Innovation Corridor (NIC), an initiative to attract and retain startups in the region, launched on Thursday, Old Dominion University announced. Qualifying startups and company expansions can receive tax incentives (abatement of Business, Professional and Occupational License taxes at 100% for two years and 50% for three years) through the NIC, in collaboration with […]
Downtown Suffolk unveils new branding
The Suffolk Economic Development Department on Wednesday unveiled new Downtown Suffolk branding. Downtown District businesses will have access to the logo and other marketing tools developed by advertising agency BrandFirst. There are also logos available with a “We’re Open” tagline. The new branding and tagline are part o[...]
Va. home prices, sales up during October
Home prices in Virginia continued to surge during October due to high demand, low inventory and mortgage rates, according to a report released by Virginia Realtors on Tuesday. Northern Virginia, Central Virginia and Hampton Roads saw median home prices rise by 15% when compared with the same time last year. The median statewide [...]
Construction begins on $20M Norfolk apartment complex
Construction began late last week on a $20 million apartment complex at the site of the former American Cigar Co. in Norfolk, according to S.L. Nusbaum Realty Co. The 118-unit complex (including one-, two- and three-bedroom floor plans) will be located at 1140 and 1148 E. Princess Anne Road in Norfolk’s Bruce’s Park [...]
BAE Systems wins potential $100M Navy contract
The U.S. Navy awarded BAE Systems Norfolk Ship Repair, a business unit of Arlington-based defense contractor BAE Systems Inc., a potential one-year, $100.5 million contract to perform work on the USS Stout ship, the U.S. Department of Defense announced Tuesday. Under the contract, BAE Systems Norfolk Ship Repair will perform shi[...]
Hampton Roads Navy installations under increased COVID-19 restrictions
U.S. Navy personnel in Hampton Roads were ordered Tuesday to restrict their travel to work, home and essential stops, and avoid gathering in groups of more than 10 people. Rear Adm. Charles W. Rock, commander of the Navy’s mid-Atlantic region, issued the order after an increase in COVID-19 cases. The following restrictions[...]
Chesapeake office building sells for $4.25M
An office building in Chesapeake has sold for $4.25 million, Colliers International announced Monday. Located at 661 Independence Parkway, the 50,000-square-foot Class A office building sits on more than 11 acres in the Battlefield Commerce Park area. Matsushita Real Estate Corp. of America sold the property to Hooked Group LLC,[...]
ODU, EVMS, Sentara name partnership executive director
Old Dominion University, Eastern Virginia Medical School (EVMS) and Norfolk-based Sentara Healthcare announced Tuesday that Kevin Leslie has been named executive director of its new partnership, the Hampton Roads Biomedical Research Consortium (HRBRC). The HRBRC was recently approved by Gov. Ralph Northam and the General Assembl[...]
Va. Beach manufacturing facility sells for $21.7M
A 320,000-square-foot industrial building in Virginia Beach sold for nearly $21.7 million, Cushman & Wakefield | Thalhimer Capital Markets Group announced late last week. The property located at 1537 Air Rail Drive is fully leased to World Distribution Services, an affiliate of The World Group, which offers logistics service[...]
