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V2X awarded $190M Army contract
The U.S. Army has awarded McLean-based aerospace and defense contractor V2X a contract worth $190 million to provide training support and instruction in Kuwait and other locations. The fixed-price contract will span five years, according to V2X’s Thursday announcement, and is part of the U.S. Army Central Command Training and Range Operations Maintenance Services contract […]
U.Va. receives $5M donation for business ethics professorship
The former president and CEO of Canadian Tire Corp. and his wife have committed $5 million to establish a University of Virginia Darden School of Business professorship focused on business ethics. U.Va. President Jim Ryan announced the donation by Stephen and Phyllis Bachand to the Darden School Foundation on Dec. 19, 2023. The [...]
Richmond biotech company to buy contraceptive biz for $100M
Aditxt, a biotech company based in Richmond, expects to purchase California-based contraceptive maker Evofem Biosciences for $100 million, taking on the business’s debt of up to $18 million, according to Aditxt’s announcement. Both companies’ boards have unanimously approved the acquisition, which is expected to close in the first half of the year. Evofem produces Phexxi, […][...]
Trucking company plans $50M facility in Botetourt
Warren, Michigan-based Universal Logistics Holdings is planning a $50 million investment to expand into Botetourt County, a project that is expected to create 45 jobs, the trucking and logistics company announced Wednesday. The expansion will bolster the company’s heavy truck capabilities in servicing truck assembly operations[...]
RTX subsidiary wins $345M Air Force contract
Raytheon, a subsidiary of Arlington County-based aerospace and defense contractor RTX, won a $344.6 million U.S. Air Force contract modification, the Department of Defense announced Friday. Raytheon will produce more than 1,500 StormBreaker smart weapons, which are air-to-surface, network-enabled weapons that can engage moving t[...]
Wizards, Capitals plan Alexandria move in $2B deal
The Washington Capitals and Washington Wizards are planning a move to a new home in Alexandria in a $2 billion deal that would see the professional sports franchises exit Washington, D.C., by 2028, Virginia Gov. Glenn Youngkin announced Dec. 13, 2023. The nonbinding agreement to build a new arena for the Capitals and Wizards is [...]
Renovating Roanoke’s ‘Grand Old Lady’
The Hotel Roanoke & Conference Center, Curio Collection by Hilton plans a $14 million renovation this year, bringing new technology, new design and new, custom-made Hotel Roanoke-logoed furniture to every one of its 329 guest rooms. The hotel’s most recent renovation, completed in 2020, upgraded its Pine Room restaurant, c[...]
Pittsylvania site is top contender for lithium-ion battery plant
The Southern Virginia Megasite at Berry Hill in Pittsylvania County is the top contender for a lithium-ion battery manufacturing project that could top $1 billion in investments and about 1,500 jobs, according to its CEO. After a $100 million grant for the project was announced by the U.S. Department of Energy Nov. 27, 2023, Ten[...]
Inn at Little Washington plans five-star upgrades
After more than 40 years of growing his three-Michelin-star restaurant, Inn at Little Washington chef and owner Patrick O’Connell is nearing his wish of offering guests “all the amenities of great hotels in Europe with the warmth of visiting a private home.” Expansion plans include adding a reception building, two new buil[...]
Reddix creates hub for women entrepreneurs
Angela Reddix is making it her business to create economic opportunities for women. “That is my absolute heart’s desire — to make it easier for girls and women to have access to wealth, and that means understanding it. That means being able to see it. That means being able to be invited in rooms where […]
FOR THE RECORD JANUARY 2024
ROANOKE/NEW RIVER VALLEY State regulators approved a rate increase for Appalachian Power that will add about $16 to the monthly bill of an average residential customer. The State Corporation Commission’s authorization will not take effect until the last week of January, meaning that the higher cost of electricity will start to show up in February […]
Data mining
Elena Schlossberg has spent the past three-and-a-half years fighting against what some say is soon to become the world’s largest data center complex. The Haymarket resident estimates she’s participated in at least 100 Zoom calls, town halls and Prince William County meetings to protest the project, while wearing a series of [...]
