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NoVa, Hampton Roads housing markets improve in November
The Northern Virginia and Hampton Roads housing markets in November showed signs of improvement from the same month last year, including increased home sales and selling prices. Northern Virginia Home prices and sales activity in Northern Virginia rose year-over-year last month, indicating a healthier market than the November 20[...]
Va. plays key role in McKinsey $650M opioid settlement
Global management firm McKinsey & Co. filed an agreement in Virginia on Friday to pay the federal government $650 million in a five-year deferred prosecution agreement with the U.S. Department of Justice focused on opioid abuse. The Virginia attorney general’s Medicaid Fraud Control Unit (MFCU) collaborated with U.S. a[...]
JMU receives $2.5M gift for new library wing
James Madison University has received a $2.5 million gift for the new wing of its Carrier Library. Alexandria residents Stan and Rosemary Jones provided the donation, which the Harrisonburg public university announced in late November. A 1954 physics and math alumnus of what was then Madison College, Stan worked for McLean-based[...]
Richmond’s Movieland at Boulevard Square to undergo $5M glow-up
Movieland at Boulevard Square, the city of Richmond’s only first-run movie theater, is undergoing approximately $5 million in renovations and upgrades. The project, which began in October and is expected to be completed in spring 2025, represents “the most extensive enhancements to the theater since it opened in 2009,”[...]
New dockworker strike threat looms for Port of Virginia
Shippers in Hampton Roads are bracing for a renewed dockworker strike in mid-January after contract negotiations between the International Longshoremen’s Association and the United States Maritime Alliance stalled in November. More than 45,000 dockworkers walked off their jobs for three days starting Oct. 1 at ports from M[...]
Developer plans $3B data center in Appomattox County
A Connecticut developer plans to build a $3 billion data center on a 452-acre site in Appomattox County. AVAIO Digital Partners announced Tuesday it had signed an agreement with the Appomattox County Economic Development Authority to purchase the industrial site. “This project in Appomattox County exemplifies our strategy of e[...]
Micron gets $275M in federal funding for Manassas expansion
Micron Technology is set to receive up to $275 million in federal funding to expand its manufacturing plant in Manassas, U.S. Sens. Mark Warner and Tim Kaine announced Tuesday. The U.S. Department of Commerce has signed a preliminary, nonbinding agreement for the funding as part of the 2022 CHIPS and Science Act, legislation War[...]
Caesars delays Danville casino’s opening by 5 days
The $750 million Caesars Virginia resort in Danville will host grand opening festivities on Dec. 17 instead of Dec. 12 as previously announced, Nevada’s Caesars Entertainment announced Friday afternoon. On hand will be retired Chicago Bulls basketball star and five-time NBA champion Dennis Rodman, who will lead a parade of[...]
Paver manufacturer to invest $47M for Pittsylvania facility
Cambridge Pavers, a New Jersey-based manufacturer of pavers, slabs and wall systems, will invest $47.35 million to establish a 150,000-square-foot facility at Ringgold East Industrial Park in Pittsylvania County, Gov. Glenn Youngkin announced Friday. Virginia competed with North Carolina, South Carolina, New Jersey, and Massachu[...]
Customer bankruptcy, severance charges push Hooker’s loss in Q3
Martinsville-based Hooker Furnishings reported consolidated net sales of $104.4 million in the third quarter ended Oct. 27, a decrease of $12.5 million, or 10.7%, from last year. It also reported an operating loss of $7.3 million, marking its third quarterly loss in a row. The company attributed ongoing low demand as a reason fo[...]
As bitcoin breaches $100K, MicroStrategy holdings, Saylor’s wealth surge
MicroStrategy, the Tysons-based tech company chaired by bitcoin whale Michael Saylor, has pursued bitcoin as an investment strategy since 2020. Now, it appears to have paid off as bitcoin breached the $100,000 threshold. Bitcoin rose above $100,000 per coin Wednesday night, after previously breaching $99,000 on Nov. 21. At 11:45[...]
FAA certification clears way for DroneUp to scale up
Virginia Beach-based drone delivery company DroneUp has received a Federal Aviation Administration certificate that will allow it to grow its delivery operations. On Tuesday, the company announcedi t received an FAA Part 119 air carrier certificate under Part 135. The certificate allows DroneUp to carry third-party property as a[...]
