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Torc makes interim CFO permanent
Blacksburg-based self-driving truck company Torc Robotics, a subsidiary of Daimler Truck, hired Richard Kannan as its new chief financial officer, the company announced Thursday. Kannan, who had served as interim CFO since August, will also become a member of Torc’s executive leadership team. “Richard has proven himself [...]
Liberty University fined $14M for underreporting campus crime
The U.S. Department of Education has fined Liberty University a record penalty of $14 million for underreporting crime on campus, in a Clery Act settlement announced Tuesday. The amount far outstrips the department’s previous highest-ever fine, $4.5 million, assessed in 2019 against Michigan State University for the gymnas[...]
Roanoke/New River Year-in-Review: Meeting the demand
The Roanoke and New River Valley regions each had their most successful economic development year in recent history, according to John Hull, executive director of the Roanoke Regional Partnership. That’s thanks to $387 million worth of economic investments announced in 2023, potentially creating thousands of jobs. Roanoke Coun[...]
Roanoke/New River Valley Big Deal: Banking on Roanoke
When Roanoke County economic development officials pitched Wells Fargo on expanding its customer support center operation in the county, they emphasized how well they’d taken care of the nation’s fourth-largest bank previously and how they would continue to do so. The pitch worked. Now the bank’s $87 million expansion will[...]
Mack Trucks will expand Roanoke County facility
North Carolina-based Mack Trucks, a division of Sweden-based Volvo Group, will invest $14.5 million to expand its Roanoke County manufacturing operation, a project expected to create 51 jobs, Gov. Glenn Youngkin announced Friday. Mack Trucks, a medium- and heavy-duty trucks producer, will add 72,000 square feet to its current fa[...]
Trucking company plans $50 million Botetourt facility
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 in early January. The expansion will bolster the company’s heavy truck capabilities in servicing truck assembly ope[...]
RAMP hires new executive director
The new executive director of RAMP, the Roanoke-based Regional Accelerator and Mentoring Program, once worked for the Central Intelligence Agency. Now he’ll help startups get off the ground in Roanoke, after doing work in the startup ecosystem in North Carolina. John Hagy started as executive director of RAMP on Jan. 8. He[...]
Brown Edwards CEO to retire in June
Brown Edwards partner and CEO Jason Hartman will retire this summer, the Roanoke-based public accounting firm announced Tuesday. Hartman joined Brown Edwards in 1986 and has led the firm for the past seven years. Laura Sprouse, Brown Edwards’ chief operating officer and partner, will become the next CEO on June 1. Under Ha[...]
Roanoke fintech startup KlariVis closes $11M funding round
KlariVis closed an $11 million Series B funding round, the Roanoke-based banking data analytics startup announced Thursday. KlariVis provides data analytics solutions for community banks and credit unions. The fintech company has doubled its revenue and customer count year-over-year and has 100 clients, according to a news relea[...]
Virginia Credit Union, Member One announce merger
Chesterfield County-based Virginia Credit Union and Roanoke-based Member One Federal Credit Union announced plans to merge Thursday, a deal that would create the state’s third largest credit union, with a combined $6.7 billion in assets and 500,000 members. VACU is currently the fourth largest Virginia-based credit union, [...]
Va. Tech receives two $1M endowment commitments
The Public Service Education Institute has endowed two $1 million funds at Virginia Tech to support internships, the university announced Tuesday. The endowments, each created with a $1 million commitment, will support students who have secured internships with federal, state or local government agencies, including the Virginia Cooperative Extension. One endowment will support students in […][...]
Ridge View Bank hires new SVP for New River Valley
Ridge View Bank has hired Todd Murray as senior vice president of commercial banking in the New River Valley, the Roanoke-based bank announced Wednesday. Murray will lead an expansion of bank’s commercial banking services in the New River Valley and will be responsible for loan and deposit production, collaborating with the ba[...]
