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NoVa office space market improves after pandemic disruption
The Northern Virginia office real estate market showed improvement in leasing activity and occupancy loss in the third quarter, following four quarters of disrupted activity, according to a report released by commercial real estate services and investment firm CBRE Group Inc. this week. Gross leasing activity held steady from th[...]
U.Va. to offer $50M more in scholarships
The University of Virginia will invest another $50 million in matching funds through the Bicentennial Scholarship Fund, U.Va. President Jim Ryan said last week. Established in 2016 with an initial $100 million investment, the fund matches philanthropic commitments toward scholarships, both need- and merit-based. Donors have comm[...]
Sauer Brands buys independent salsa brand
Richmond-based Sauer Brands Inc. is expanding into salsa with the acquisition of Frisco, Texas-based Mateo’s Gourmet Salsa, the company announced Thursday. Sauer Brands, which owns Duke’s Mayonnaise, The Spice Hunter, Kernel Season’s and its own line of spices and seasoning, did not disclose the financial terms of the deal[...]
Peduzzi Associates Ltd. names next president
Retired U.S. Air Force Maj. Gen. Garry Dean will become the president of Alexandria-based consulting company Peduzzi Associates Ltd. on Friday. Dean has served on the company’s board of advisers for the last four years. He has been an international airline captain for Delta Air Lines since he retired from the Air Force in [...]
Italian meat company bringing 150 jobs to Rockingham County
Italian cured meats manufacturer Veronesi Holding S.p.A., a Gruppo Veronesi company, will invest approximately $100 million to establish its first U.S. production facility in Rockingham County, creating an estimated 150 jobs over the next four years, Gov. Ralph Northam announced Thursday. The facility will be located on 75.8 acres in the Innovation Village @ Rockingham […]
JMU-led pact seeks to increase labor participation
The Shenandoah Valley’s economy is rebounding, but the region is struggling with a poor labor force participation rate, even compared with the national rate of 61%. In Augusta, Bath, Highland, Page, Rockbridge, Rockingham and Shenandoah counties, only 50% of potential workers are actually employed, says Jay Langston, executive[...]
Va. Beach, Oceana ink economic development deal
An agreement between the Navy and Virginia Beach could give the city much-needed breathing room for economic development expansion while lowering the cost of operating the East Coast’s master jet base. Under a concept called Future Base Design, Naval Air Station Oceana would lease about 400 acres of land to private business[...]
Richmond casino plan goes to polls
Early voting is underway across Virginia, and in Richmond, residents will also decide by Nov. 2 whether Silver Spring, Maryland-based Urban One Inc. can establish its proposed $565 million ONE Casino + Resort in the city. Urban One CEO Alfred Liggins has high hopes for what could be the nation’s only majority Black-owned casin[...]
Plastics company to revive textile mill site in Hurt
At the site of what was once a Burlington Industries textile mill in Hurt, Staunton River Plastics is building a 250,000-square-foot manufacturing facility. Staunton River Plastics is the first tenant for the newly named Southern Virginia Multimodal Park, says Linda Green, executive director at the Southern Virginia Regional All[...]
Larger shovel-ready sites key to success
Workers with Franklin County-based Bowman Excavating Inc. have hauled off 250,000 cubic yards of dirt since beginning work last November on Wood Haven Technology Park in Roanoke County, according to Devin Bowman, company vice president. With 30 acres of trees cleared and load after load of dirt scooped away from the berm next to[...]
A developing picture
As Norfolk prepares for some sizable development projects, city officials don’t plan to forget the strong business base that positioned the area for such investments. “We’re really focused on business expansion and our primary employers,” says Jared Chalk, Norfolk’s director of economic development. “That’s been ou[...]
Long Bridge expansion to speed up D.C.-Va. rail traffic
Plans for constructing a $1.9 billion, two-track railroad bridge connecting Virginia to Washington, D.C. — doubling the number of tracks going across the Potomac River from the U.S. capital to the commonwealth — are chugging right along. “We’re now moving forward to advance the engineering design and that should be compl[...]
