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Richmond City Council approves Diamond District
Richmond City Council voted unanimously May 8 to approve the $2.44 billion Diamond District project, which includes a replacement for the aging stadium that’s home to the Double-A Richmond Flying Squirrels baseball team. The Diamond District’s first phase, expected to cost $627.6 million, includes a 9,000-capacity, $90 milli[...]
For The Record June 2023
CENTRAL VIRGINIA Henrico County-based Fortune 500 tobacco manufacturer Altria Group Inc. settled at least 6,000 state and federal lawsuits related to its stake in Juul Labs Inc. for $235 million in May. The settlements will be paid in the second quarter of 2023. Altria purchased a 35% stake in e-cigarette company Juul for $12.8 billion […]
Va. Beach economic development director to depart
Taylor V. Adams, Virginia Beach’s deputy city manager and director of economic development, confirmed Tuesday night he will be leaving Virginia Beach after eight years. He will become the next president and CEO of the Economic Development Authority of Western Nevada (EDAWN), he said Wednesday. His last day is June 30. Last[...]
Charlottesville regional chamber names prez and CEO
Natalie S. Masri will assume the role of president and CEO of the Charlottesville Regional Chamber of Commerce on June 1, the chamber announced Tuesday. She succeeds Andrea Copeland, who has served as the chamber’s interim president since February and will become the chamber’s chief operating officer. Masri most recently fou[...]
2,000 Amazon employees move into HQ2 during first week
About 2,000 employees moved into the first open tower at Amazon.com Inc.’s $2.5 billion HQ2 East Coast headquarters in Arlington this week. Floors 1-14 of Merlin, one of Amazon’s two 22-story office towers in Metropolitan Park, the first phase of HQ2, opened Monday. The tech giant anticipates opening the remaining floors[...]
General Dynamics subsidiary to build ninth Navy oiler
A subsidiary of Reston-based General Dynamics Corp. has received a $736 million contract modification for detail design and construction of the ninth replenishment oiler in the Navy’s John Lewis-class fleet, the Pentagon announced Monday. San Diego-based National Steel and Shipbuilding Co. is expected to begin construction of T-AO 213 in the third quarter of 2025. […]
Auto parts manufacturer to expand in Emporia
Heyco Werk USA Inc., a subsidiary of Germany-based automotive parts manufacturer Heyco Group, plans to invest $5.4 million to expand its operations in Greenville County, adding 21 jobs, Gov. Glenn Youngkin announced Thursday. The location produces precision plastic molder parts for the auto industry and other industrial markets.[...]
Valiant wins $748M language services task order
Herndon-based defense contractor Valiant Integrated Services LLC will provide linguist and translation support to the U.S. Central Command under a $748 million task order with a ceiling value of up to $1.4 billion, the government contractor announced Thursday. Under the contract, Valiant will provide comprehensive linguist and translation support in CENTCOM’s area of responsibility, a […][...]
Navy awards $1.1B more for sub construction
General Dynamics Corp.’s Groton, Connecticut-based Electric Boat Corp. has received nearly $1.1 billion more from the Navy to continue building Virginia-class submarines, and its teammate, Newport News Shipbuilding, has received a $305 million chunk of that award to procure long-lead time material and components for the [...]
SAIC lands $249M Navy air warfare contract
Reston-based Science Applications International Corp. will continue servicing combat instrumentation platforms used by the Naval Air Warfare Center Weapons Division for training and test evaluation under a potential $249 million contract, the Fortune 500 contractor announced Tuesday. Under the contract, SAIC will perform systems design and integration, hardware and software upgrades and modifications for combat […][...]
Inova receives $75M donation for heart, vascular programs
Northern Virginia philanthropists Dwight and Martha Schar have made a $75 million matching gift to support Inova Health System’s heart and vascular treatment programs, Inova announced Tuesday. The Schars have donated a total of $126 million to the Falls Church-based health system since 1993, including $50 million in 2015 t[...]
Alexandria’s QED Investors raises $925M for two new funds
Alexandria-based fintech venture capital firm QED Investors raised $925 million for two new funds, QED announced Tuesday. The funding comes from two capital commitments: a $650 million oversubscribed early stage fund and a $275 million early growth stage fund, according to a news release from QED, a key investor in San Francisco[...]
