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Textiles startup opening Buchanan County sewing factory
Local textiles manufacturing startup Maine Five is opening a sewing factory at Buchanan County’s Council Industrial Park building. Investing $350,000 in the 17,211-square-foot factory space, the company is immediately hiring 12 workers and has plans to employ to 100 total workers by 2026. Founded in 2020, Maine Five manufa[...]
What stays and what goes
With renewed hopes stemming from vaccine distribution, economists and business leaders are looking ahead toward recovery, including pandemic-induced changes that will stay and ways we’ll return to “normalcy.” While it’s evident that the technology sector’s upward trend will continue, Federal Reserve Bank of Ric[...]
Northam announces $3.6M expansion of Eaton in Henrico
Power management manufacturer and supplier Eaton Corp. plc will invest $3.6 million to move production from California to its facility in Henrico County, Gov. Ralph Northam announced Friday. The move will create 80 jobs through the expansion of the Henrico facility’s production capabilities and the addition of new lines for electrical component manufacturing. Eaton, an […]
Herndon satellite company BlackSky to go public
Herndon- and Seattle-based global monitoring company BlackSky announced Thursday it will go public following its acquisition by Osprey Technology Acquisition Corp., a transaction that values the combined company at $1.1 billion. Under the transaction, the special purpose acquisition corporation will merge with the Herndon company. BlackSky’s shareholders will own 62% of common shares of the […][...]
PenFed expands partnership with The Washington Justice
Tysons-based PenFed Credit Union announced Tuesday it is expanding its partnership with The Washington Justice, the professional esports Overwatch League for the Virginia, Maryland and Washington, D.C., area, into a three-year sponsorship. PenFed, which is one of the nation’s largest federal credit unions, will be featured as [...]
Why the Richmond Fed has zero Black Ph.D. economists
The Federal Reserve Bank of Richmond is one of only five Fed banks that employs zero Black Ph.D. economists, according to a New York Times report this week. Of the 12 Federal Reserve banks, seven employ only one or two Black Ph.D. economists, which Fed officials blame on lack of Black talent in the economics […]
Virginia Tech’s advancement division announces leadership changes
As Virginia Tech revs up its $1.5 billion Boundless Impact fundraising campaign, the university’s advancement division announced Tuesday changes to its leadership structure, effective Feb. 16. Virginia Tech’s Advancement Division, which oversees the university’s fundraising, communications, marketing and alumni engagement,[...]
U.Va.’s Virginia Law Review names new editor-in-chief
The University of Virginia School of Law announced Tuesday that second-year student Tiffany Mickel has been named as editor-in-chief of the Virginia Law Review. She is the first Black person to hold the position in the publication’s 108-year history. As editor-in-chief, she hopes to diversify authorship of law review content a[...]
Northam named Appalachian Regional Commission states’ co-chair
The Appalachian Regional Commission announced Wednesday its 13 governors have elected Gov. Ralph Northam to serve as ARC’s states’ co-chair for 2021. As co-chair, Northam will work with the federal co-chair to invest in economic growth and development across the 13-state Appalachian region. In fiscal year 2020, ARC, a fede[...]
The Hilb Group makes third acquisition announcement of 2021
Henrico County-based insurance company The Hilb Group LLC made its third acquisition announcement of the year, with the purchase of Lake Success, New York-based Rampart Brokerage Corp. & Affiliates. Financial details of the acquisition were not disclosed. Founded 55 years ago, Rampart Brokerage Corp. and Affiliates (RBC) employs nearly 200 people and serves as a […]
Wells Fargo to lay off 320 Henrico County employees
The investment management and financial brokerage business unit of Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, will lay off 320 employees from its Henrico County office. The wealth and investment management jobs are moving to some of the bank’s larger locations, Wells Fargo Advisors spokesperson Shea Leordeanu said in a statement. Wells […]
‘Fauci effect’ spurs med school applicant growth
It just got even more competitive to win a spot at the Virginia Tech Carilion School of Medicine, which saw a 48% increase in applications last year. By the Dec. 1, 2020, application deadline, the medical school had received 6,374 applications for the class of 2025, which has a mere 49 openings. Last year, the […]
