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Southern Va. Big Deal: Microporous’ mega project
Microporous’ decision to invest $1.35 billion to build a battery component plant in Pittsylvania County is a mega deal not just for the region but for the state. “The company will create over 2,000 jobs in multiple phases and the potential is there for, frankly, additional job creation beyond that,” says Matt Rowe, the[...]
Central Va. Big Deal: Petersburg voters say ‘yes’ to a $1.4 billion casino
Petersburg voters know when to hold ’em and know when to fold ’em. In November 2024, more than 80% of voters approved a casino referendum, giving the green light to Cordish Cos.’ $1.4 billion Live! Casino & Hotel Virginia, which will be built on an undeveloped, roughly 90-acre site off Interstate 95 in Pete[...]
Eastern Va. Big Deal: Chesapeake’s LS GreenLink plant will have high profile
Soon, the tallest building between Philadelphia and Charlotte, North Carolina, will be located not in an urban center but on the banks of the Elizabeth River in Chesapeake. Groundbreaking is expected to begin as early as March on LS GreenLink USA’s $681 million offshore wind subsea cable manufacturing facility, the first i[...]
Roanoke/New River Big Deal: Framatome expands for a small modular future
The future is small, modular and very bright, according to Framatome, the nuclear energy company that is one of Lynchburg’s largest employers. A presence in the city since the 1980s, Framatome broke ground in April 2024 on a $49.4 million, multi-year expansion and renovation at its Mill Ridge Road facility, one of the comp[...]
Central Va. Year-in-Review: Region scores in manufacturing, data centers
Central Virginia continued making headway in manufacturing and offices in 2024, as well as seeing increased interest from the data center sector. Growth is still taking place in Northern Virginia, home of Loudoun County’s famous “Data Center Alley,” where 70% of the world’s internet traffic courses, but as compan[...]
Southern Va. Year-in-Review: Major projects landed in region
For Danville and Pittsylvania County, 2024 was a monumental year. In November 2024, battery-component manufacturer Microporous broke ground on a $1.3 billion plant at the Southern Virginia Megasite at Berry Hill, where it expects to create 2,015 jobs. The following month in Danville, Caesars Virginia hosted the grand opening of [...]
V2X nabs $100M FBI contract
V2X secured a $100 million, five-year contract to provide aviation maintenance and support services for the FBI’s Critical Incident Response Group, the Reston-headquartered aerospace and defense contractor announced Wednesday. V2X’s role in the contract will be to deliver mission-critical aviation resources, enabling[...]
Fed should be cautious amid uncertainty, Barkin says
Although inflation is coming down, the Federal Reserve Bank should exercise caution amid economic and geopolitical uncertainty, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Tuesday while addressing a Rotary Club of Richmond meeting. The economy is in a good place, Barkin said, citing the 2.5% growth in the [...]
Virginia Tech’s Innovation Campus launches in Alexandria
Virginia Tech’s Walid Saad was used to traveling between the university’s locations in Arlington and Fairfax counties to meet students and teach classes. Saad, a professor of electrical and computer engineering, works at the intersection of wireless networking and artificial intelligence, including using quantum tech[...]
BAE Systems wins $251M contract to support Navy AEGIS Combat System
The U.S. Navy has awarded Falls Church-based federal contractor BAE Systems with a five-year, $251 million contract to provide critical system engineering and on-site technical expertise to the AEGIS Technical Representative (AEGIS TECHREP) organization. Under the contract, which was awarded in November 2024 and announced Feb. 1[...]
Conn. developer files amended complaint in $40M Diamond District lawsuit
After a Richmond Circuit Court judge dismissed a Connecticut developer’s $40 million lawsuit over the city’s $2.44 billion Diamond District project, the developer has filed an amended complaint with a change in language. Judge Bradley B. Cavedo ruled Jan. 22 in favor of defendants Thalhimer Realty Partners, a subsidi[...]
RTX subsidiary secures $1.5B Air Force contract
Pratt & Whitney, a subsidiary of Arlington County Fortune 500 aerospace and defense contractor RTX, secured a three-year award valued at up to $1.5 billion to sustain F119 engines powering the U.S. Air Force’s F-22 fighter jets. RTX announced the contract award to its aerospace manufacturing subsidiary, headquartered i[...]
