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Feeling stronger
In the year since Bon Secours Health System merged with Mercy Health, the Cincinnati-based hospital group has expanded its holdings in Virginia, where it now owns and operates 12 hospitals. In January, Bon Secours Mercy Health acquired three hospitals: the 300-bed Southside Regional Medical Center in Petersburg, the 105-bed So[...]
On the move
Mark Blanks, director, Virginia Tech Mid-Atlantic Aviation Partnership, Blacksburg As more drones take to the skies, Blanks leads MAAP, which has built a partnership with Google parent company Alphabet to develop an autonomous drone delivery industry. Google’s Project Wing is the nation’s first FAA-approved commercial delivery service using long-distance aerial drones. Wing has partnered with […][...]
Mergers and acquisitions
In 2019, banks continued to merge and consolidate, and some closed branches in Virginia’s rural counties and small towns, a trend expected to continue well into the 2020s. The big news of last year was the completion of the $66 billion merger of BB&T Corp. and SunTrust Banks Inc. in December, creating Charlotte, North Caro[...]
Where the action is
In the wake of Amazon.com Inc.’s late 2018 announcement that its $2.5 billion HQ2 East Coast headquarters would locate in Arlington County, there’s been a game of musical chairs taking place among Northern Virginia’s economic development offices. Last July, Victor Hoskins, Arlington’s economic development director, left [...]
The arena of politics
A historic vote on the biggest economic development proposal in the city of Richmond’s history — the potentially transformative $1.5 billion Navy Hill downtown redevelopment plan that would have included the state’s largest entertainment venue — collapsed in mid-February amid sound and fury as seven of Richmond City Coun[...]
Revisionist history
Virginia’s tourism industry has long banked on its history — but this time there’s more context and acknowledgement of different facets of the commonwealth’s heritage. Last year, the commonwealth held observances marking the 400th anniversaries of the first elected legislative body in the New World and the arrival of the[...]
Shifting skylines
As several economic development officials have noted wryly over the past year, the construction crane appears to be Virginia’s new state bird. Labor shortages and expensive materials still impact the industry, but by and large, construction companies are busy across the commonwealth. In January, demolition started at the site [...]
The byte goes on
The tech sector is growing in Northern Virginia, prompted by Amazon.com Inc.’s $2.5 billion HQ2 East Coast headquarters in Arlington County and Google’s expansion in Fairfax and Loudoun counties as part of its $13 billion national growth plan. Also, a new regional coalition, the Northern Virginia Economic Development Allianc[...]
Heavy hitters
With 21 companies listed on the Fortune 500, Virginia is home to many powerful and influential business leaders but naturally some are more involved in their communities and exert more pull in the state than others. This year’s list of Virginia’s most influential businesspeople ranges from defense contractors, bankers and he[...]
A multifaceted strategy
Catching the big one matters, but a lot of little successes can mean a lot, too. In Southwest Virginia, small triumphs have accumulated over the past year, in addition to larger announcements. Last April, Polycap LLC, a Toronto-based manufacturer of specialty caps and closures, announced it would invest $7.7 million in Lebanon[...]
Money moves
In September 2019, Tysons-based Park Hotels & Resorts Inc. completed its $2.5 billion purchase of Chesapeake Lodging Trust, the largest acquisition in the state last year. Park’s hotel portfolio now includes 66 properties with more than 35,000 rooms, and the company has expanded into San Francisco, Boston, Miami, Los Angel[...]
Maximum impact
When President Donald Trump stepped onstage at a General Dynamics Corp.-run factory last spring, an American flag and four M1 Abrams battle tanks served as his backdrop. “God Bless the U.S.A.” by Lee Greenwood played. Employees of the Lima, Ohio, plant chanted, “USA, USA!” and Trump smiled. “Well, you better love me,�[...]
