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Amazon delays HQ2 phase two
Amazon.com Inc. is delaying construction on the second phase of HQ2, its $2.5 billion East Coast headquarters in Arlington County. The news comes as Amazon plans to open HQ2’s first phase, Metropolitan Park, in June, and as the Fortune Global 500 tech company laid off a record 18,000 workers amid concerns over slowing reven[...]
Commonwealth Crossing plays ‘long game’ for success
Commonwealth Crossing Business Centre’s first two tenants — Polish flat-glass processor Press Glass Inc. and Pennsylvania-based aluminum beverage can manufacturer Crown Holdings Inc. — have invested at least $218 million into facilities at the industrial park in Henry County, creating about 400 jobs, according to Mark Heat[...]
Shoring up
Williamsburg, Jamestown and Yorktown are all significant parts of the nation’s foundation, and historic tourism drove the region’s economy during the 20th century. But Colonial Williamsburg hasn’t been enough to keep big crowds coming to the area consistently in the 21st century, even before the pandemic. Visitation droppe[...]
Barkin: Raising interest rates is correct course
As inflation remains high and the fallout from recent bank failures seems contained, the Federal Reserve Bank has good reason to continue raising interest rates, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday in a speech to the Virginia Council of CEOs at the University of Richmond. “It is worth [...]
Atlantic Park breaks ground in Virginia Beach
Atlantic Park, the $335 million dollar surf park development planned for Virginia Beach’s Oceanfront, has broken ground and closed on its financing, according to an announcement Thursday from Venture Realty Group, the firm developing the project with music icon Pharrell Williams. The 11-acre surf park has been in developme[...]
Greater Richmond United Way names new CEO
A familiar face is returning to the United Way of Greater Richmond & Petersburg as its next president and CEO: Barbara Couto Sipe, formerly president and CEO of nonprofit NextUp RVA, will take over leadership of the United Way of Greater Richmond & Petersburg starting June 16, the United Way chapter announced Wednesday. [...]
Smithfield Foods taps chief HR officer, general counsel
Virginia-based Smithfield Foods Inc. has named a new chief human resources officer and a new general counsel, the nation’s largest pork product manufacturer and hog producer announced Tuesday. Isham “Jay” Bennett was previously vice president of human resources at Lockheed Martin before joining Smithfield Foods[...]
Vienna digital development firm acquires health tech company
Vienna-based digital development company 10Pearls has acquired Inspirant Group, a health care strategy consulting firm based just outside Chicago, 10Pearls announced Monday. Financial terms of the transaction were not disclosed. “We are delighted to welcome Inspirant Group to our team at 10Pearls. … The combination of our two teams will allow us to partner with […]
ESPN: Snyders receive two $6B bids for Commanders
Updated 2 p.m. March 28 ESPN reporter Adam Schefter reported Tuesday that a group of investors led by Josh Harris and Mitchell Rales and including NBA legend Magic Johnson has submitted a $6 billion bid for the Washington Commanders, meeting the asking price of team owner Dan Snyder. Later in the day, Schefter tweeted that [&hel[...]
Amazon housing fund director resigns
Amazon.com Inc.’s Amazon Housing Equity Fund Director Catherine Buell is leaving the e-tail giant. Housing Equity Fund Principal Senthil Sankaran will be the interim head of the fund team, according to an Amazon spokesperson. Buell joined Amazon in 2020 as head of community development for Amazon in the Community and became di[...]
Arko tries to keep $1.4B TravelCenters of America bid alive
Updated 5:30 p.m. March 28 Henrico County-based Fortune 500 convenience store holding company Arko Corp. is rivaling British oil and gas giant BP in a $1.4 billion bid to acquire Westlake, Ohio-based TravelCenters of America Inc., a publicly traded convenience store chain with 281 retail stores and roadside restaurants in 44 sta[...]
U.Va. commerce alum donates $10M for scholarships
A University of Virginia alumnus, John Connaughton, and his wife, Stephanie, have donated $10 million to fund need-based undergraduate scholarships for McIntire School of Commerce students, the university announced Thursday. U.Va. will match the couple’s gift, which establishes the Connaughton Bicentennial Scholars Fund. P[...]
