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Hotel revenue still up, but shows signs of softening
Virginia’s hotel industry revenues remain above pre-pandemic levels but are beginning to show a softening. That’s according to a report from Old Dominion University’s Dragas Center for Economic Analysis and Policy released Tuesday. According to the center’s analysis of data from STR, a division of CoStar Group that provides market data on the U.S. hospitality […]
Data centers added $54.2B to Va. GDP over five years
The data center industry contributed $54.2 billion to Virginia’s gross domestic product from 2017 to 2021, according to a PricewaterhouseCoopers study released Tuesday. That calculation includes indirect impacts from other businesses as part of the data center industry supply chain and induced impacts resulting from household [...]
Lyon Shipyard to expand, adding 134 jobs
Lyon Shipyard, a 95-year-old family-owned ship repair facility in Norfolk, will spend $8.5 million to expand its operations and add an estimated 134 jobs, Gov. Glenn Youngkin announced Wednesday. The shipyard plans to increase its capacity to work on commercial ships and vessels that will work on offshore wind farm operations. V[...]
Falwell Jr. lawsuit targets Prevo, Liberty board members
A legal complaint filed last week by former Liberty University President and Chancellor Jerry Falwell Jr. alleges that President Emeritus Jerry Prevo and members of Liberty’s executive committee received in excess of $1 million from the university “through a series of questionable self-dealing transactions that have [...]
Dominion pitches state on $70M battery storage pilot
Dominion Energy Virginia is asking the state to allow it to test two technologies that it says could lengthen the time its batteries can electrify the grid from an average of four hours to longer than four days. In a 117-page filing made Monday with the State Corporation Commission, Dominion said its Darbytown Storage Pilot [&he[...]
44 Va. schools make U.S. News and World Report’s 2024 list
Forty-four Virginia schools ranked on the U.S. News and World Report’s 2024 best lists of more than 600 universities and liberal arts colleges in the country, released Monday. The University of Virginia ranked No. 24 in national universities, tying with Carnegie Mellon and Emory universities and Washington University in St. Lo[...]
U.Va. receives $50M gift from Breeden Co. founder
Ramon W. Breeden Jr., founder and chair of Virginia Beach-based developer The Breeden Co., has given $50 million to his alma mater, the University of Virginia, to support business education and athletics. University President Tim Ryan announced the gift during a U.Va. Board of Visitors meeting Friday, according to a news release[...]
GDIT names new chief growth officer
Falls Church-based General Dynamics Information Technology has named Paul Tartaglione as its new chief growth officer, the company, a subsidiary of Fortune 500 contractor General Dynamics, announced Monday. Tartaglione started in his new role Monday. He joined GDIT from McLean-based Fortune 500 management consultancy Booz Allen [...]
German yeast upcycler building plant in Rockingham
Leiber, a German manufacturer that processes brewers’ yeast into animal food, biotechnology and supplements, will invest as much as $20 million to establish its first U.S. operation in Rockingham County’s Innovation Village, adding an estimated 35 jobs. Gov. Glenn Youngkin announced the new facility Monday. It will b[...]
VCU sets sponsored research funding record
Virginia Commonwealth University set a record for its sponsored research funding — $464.6 million — in fiscal 2023, the Richmond public research university announced Friday. The total is a 14% increase since last year and a 71% increase over five years ago. “I’m proud that research is one of the fastest areas of growth a[...]
JK Moving hires talent development director
JK Moving Services has hired Carrie Haas as its director of talent development, the Sterling-based moving company announced Monday. Haas will lead training and talent development for JK Moving and its sister company, CapRelo, an employee relocation and assignment management firm. She will develop, coordinate and facilitate talen[...]
SAIC taps new chief innovation officer, chief of staff
Science Applications International Corp. (SAIC) has hired a new chief innovation officer as well as a new chief of staff to incoming CEO Toni Townes-Whitley, the Reston-based Fortune 500 federal contractor announced Thursday. Lauren Knausenberger, who will oversee the company’s innovation strategy across its solutions and services portfolio as chief innovation officer, comes from the […][...]
