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Liberty to pay off $189M in bonds early
Liberty University plans to pay off more than $189 million in taxable bonds next month, according to paperwork filed Wednesday by the Bank of New York Mellon Trust Co. NA. The prices will be set March 31, which will include accrued interest. Liberty issued a $100 million bond in 2012 with a 5.1% interest rate, […]
Noblis promotes VP, chief people officer to senior VP
Reston-based Noblis Inc. is expanding the role of Vice President and Chief People Officer Deborah Drake by promoting her to senior vice president, the not-for-profit federal contractor announced Tuesday. Drake leads Noblis’ human resources and organizational development, including talent recruitment, total rewards system a[...]
Boeing receives $1.2B aircraft development contract
Arlington-based Boeing Co. will develop two E-7 Airborne Early Warning and Control aircraft for the Air Force under a $1.2 billion award announced by the Pentagon Tuesday. The contract initiates prototype development activities of U.S. variations of the aircraft, which replaces the service’s E-3 aircraft. Work will be perf[...]
Torc to acquire Canadian computer vision firm
Blacksburg-based Torc Robotics on Tuesday announced it will acquire Montreal-based computer vision company Algolux Inc. A purchase price was not disclosed. Torc, a self-driving truck company, is an independent subsidiary of Daimler Truck AG. Torc said in a news release that it is acquiring Algolux for its expertise in computer vision and machine learning. Algolux […]
Norfolk tech startup plans $1M expansion
Norfolk-based digital magazine startup Magazine Jukebox Inc. (MJB) will invest $1 million to expand, moving from a coworking space into an office, and will create an estimated 20 jobs. Gov. Glenn Youngkin announced the expansion Tuesday. “We are proud that Magazine Jukebox, an emerging leader in the technology services sector,[...]
Chambers of commerce
STATEWIDE Asian American Chamber of Commerce | Tysons | (571) 633-9754 asian-americanchamber.org Virginia Asian Chamber of Commerce | Ashland | (804) 344-1540 aabac.org Virginia Chamber of Commerce | Richmond | (804) 644-1607 vachamber.com Virginia Hispanic Chamber | North Chesterfield | (804) 378-4099 vahcc.com CENTRAL VIRGINIA Altavista Area Chamber of Commerce | Altavista | (434) 369-6665 […][...]
Familiar territory
When it came time to select a new home for its corporate headquarters and distribution center, Würth Revcar Fasteners Inc., a company with Star City roots dating back to 1969, stuck with the Roanoke Valley. Owned by the Würth Group, an industrial distributor headquartered in Germany, and consisting of more than 400 companies a[...]
Building blocks
If you ask economic development officials in Central Virginia about 2022, they might respond with a familiar slogan: “Everything is awesome.” With almost 5,000 announced jobs and $1.6 billion in capital investment, the Richmond region had one of its best years in the last two decades. By October 2022, the region recovered 10[...]
Filling the steel gap
Metallurgical coal may be an unknown to the general population, but it’s very important to the manufacturing of steel and also valuable in the current economy. In August 2022, Australia-based Coronado Global Resources Inc., which produces metallurgical coal, announced a $169.1 million expansion of its Buchanan Mine Complex in [...]
Building momentum
From olive oil to space rockets, 2022 saw a variety of companies seeking to invest — or reinvest — in the Hampton Roads region and Eastern Virginia. That kind of diversity of industries augurs well for the region’s economy, says Vinod Agarwal, professor of economics at Old Dominion University’s Strome College of Business[...]
Here to stay
Composite decking and railing manufacturer Trex Company Inc. has called the Winchester community home for more than 25 years, so when it came time for the company to construct a new global headquarters, Winchester was top of mind. “Trex was already based in the area, so they were familiar with the city and approached us [&hell[...]
Playing defense
What’s in a name? Perhaps a lot if you’re riding on the coattails of Boeing Co. and Raytheon Technologies Corp. The May and June 2022 announcements that Fortune 100 contractors Boeing and Raytheon would move their corporate headquarters to Arlington County generated plenty of buzz, but they didn’t dazzle like the 2018 anno[...]
