For The Record April 2025

Central Virginia

The $2.3 billion GreenCity development in Henrico County is dead, as the developers of the project failed to make more than $5 million in overdue payments by a March 13 deadline. The county, which sent two notices of default to developers Michael Hallmark of Los Angeles-based Future Cities and Susan Eastridge of Falls Church-based Concord Eastridge, said in a statement it will reacquire the property from the developers. (VirginiaBusiness.com)

Dr. Craig Kent resigned as CEO of UVA Health on Feb. 25, following a closed session meeting of the University of Virginia Board of Visitors earlier in the day. A letter to UVA Health faculty and staff says that Kent “offered, and President Ryan accepted, his resignation” after the meeting, when board members and President Jim Ryan “were briefed on the findings from the independent counsel’s investigation into UVA Health.” The independent investigation followed a September 2024 letter of no confidence signed by 128 physicians alleging that Kent and Dr. Melina Kibbe, dean of the U.Va. School of Medicine, created a “culture of fear and retaliation” that “compromised patient safety.” (VirginiaBusiness.com)

Petersburg’s city council and planning commission unanimously granted final approval on Feb. 25 for the zoning permits for Live! Casino & Hotel Virginia — paving the way for site development work to start in preparation for construction of the multiphase project. The $1.4 billion casino resort, which will be built on an undeveloped 100-acre site at the intersection of Wagner Road and Interstate 95, is being co-developed by Baltimore-based Cordish Cos. and Virginia Beach developer Bruce Smith Enterprise and is scheduled to be completed in phases. (VirginiaBusiness.com)

The Richmond Economic Development Authority sold the first parcel of the Diamond District mixed-use development to be converted into homes, retail space and a hotel, the city announced March 4. The $11.4 million sale is the latest step toward building a 67-acre neighborhood around the planned new baseball stadium for the Richmond Flying Squirrels. Diamond District Partners, the development team building the neighborhood, bought the 18-acre parcel, which is mostly vacant and generally east of the under-construction CarMax Park. (Richmond Times-Dispatch)

The University of Virginia’s governing board voted March 7 to dissolve its office of diversity, equity and inclusion, joining other efforts by President Donald Trump and Gov. Glenn Youngkin to remove DEI initiatives in the state and beyond. The Board of Visitors, with a majority of Youngkin appointees, voted unanimously in favor of a resolution dismantling the office. It said state law does not call for such stand-alone offices, but the resolution allows the university to transfer programs “permissible” by law to other homes. It was not immediately clear what would qualify as permissible or how many jobs or programs the resolution could affect. (The Washington Post)

PEOPLE

Wendy Perdue, dean of the University of Richmond’s School of Law, is stepping down as dean at the end of the 2025-26 academic year, the university announced March 5. Perdue has been the law school dean since 2011 and will remain on faculty as a professor of law following a sabbatical. During Perdue’s tenure, the law school built a first-year legal writing program, launched the professional identity program, established a postgraduate Bridge to Practice program to help graduates launch their careers and completed a renovation of the law school building. (VirginiaBusiness.com)

Eastern Virginia

Anheuser-Busch, which makes Budweiser and Bud Light beer, is investing $4.2 million into its Williamsburg brewery to support manufacturing equipment upgrades. The investment follows $2 billion in capital investments into its breweries nationwide over the past five years, the company said in a statement. Last year, the brewer invested $6.5 million into the Williamsburg location near the Busch Gardens theme park. The brewery has been in operation since 1972 and is one of five Anheuser-Busch locations in Virginia. (Virginia Gazette)

After more than four years, construction started in February on the $750 million Norfolk Casino near Harbor Park. Development partners Boyd Gaming and the Pamunkey Indian Tribe expect the permanent casino to open in late 2027, and a temporary casino is set to open by the end of the year. Virginia Beach’s S.B. Ballard Construction and Mississippi-based Yates Construction, the companies that built Rivers Casino Portsmouth, will lead the Norfolk project. Also, in March, Ron Bailey was hired as the casino’s vice president and general manager. He most recently was vice president and general manager of Pennsylvania’s Valley Forge Casino Resort, a Boyd property. (VirginiaBusiness.com)

Researchers at Old Dominion University urge more people in the Hampton Roads region to buy flood insurance to protect against a storm on par with Hurricane Florence. Analysts wrote in a new report that a direct hit from a Category 3 hurricane would cause at least $15.6 billion in physical damages in Southeastern Virginia, roughly 10% of the region’s total gross domestic product in 2022. That’s on top of a short-term loss of more than 76,000 local jobs. (WHRO)

The U.S. District Court for the Western District of Virginia unsealed a whistleblower complaint in February against Sentara Health that accused the Hampton Roads health care system of improperly inflating local insurance rates in 2018 and 2019. The plaintiffs, a trio of Charlottesville residents, are trying to recover more than $200 million in damages and civil penalties on behalf of the U.S. government. The Justice Department issued a notice in December 2024 that it intends to intervene on the allegations. (VirginiaBusiness.com)

Vidarr, which makes night vision goggles and other defense optical equipment, will invest $2.69 million over the next three years to open a manufacturing facility in Virginia Beach, a project estimated to create 40 jobs, Gov. Glenn Youngkin announced in March. The New Hampshire company’s plant will be housed in a 16,410-square-foot building at 2656 Lishelle Place, near Naval Air Station Oceana. Vidarr manufactures thermal optics and autonomous systems, in addition to its goggles. (VirginiaBusiness.com)

PEOPLE

Former Tyson Foods executive Stewart Glendinning became Chesapeake-based Fortune 500 discount retailer Dollar Tree’s chief financial officer March 30. He joined the company earlier this year in a senior role focused on transformation initiatives and is succeeding Jeff Davis, who earlier announced plans to step down. Glendinning was previously CEO of Express and global CFO for Tyson and Molson Coors. (VirginiaBusiness.com)

Langley Federal Credit Union President and CEO Tom Ryan will retire at the end of the year, following 13 years of leading the Newport News financial institution, it announced in late February. The credit union is the fourth largest based in Virginia, and under Ryan, its assets grew from $1.7 billion to more than $5.4 billion. Langley has engaged D. Hilton Associates to conduct a nationwide search for Ryan’s successor. (VirginiaBusiness.com)

Northern Virginia

Amazon.com is seeking federal and state permits to build an 11-building data center campus in Caroline and Spotsylvania counties. Amazon Data Services, a subsidiary, sent a joint permit application in February to the U.S. Army Corps of Engineers. Amazon plans to build the campus, known as Mattameade Data Center, within a 13-parcel area totaling approximately 1,143 acres. The project would include 11 two-story data center buildings, as well as entrances and access roads, that would develop roughly 770 megawatts of data center capacity by 2027, according to a letter by an environmental analyst with Kimley-Horn. (VirginiaBusiness.com)

Capital One Financial’s proposed $35.3 billion acquisition of Discover Financial Services was approved Feb. 19 by each company’s shareholders, the credit card giants announced. McLean-based Capital One expected to close the deal in early 2025. However, President Donald Trump’s company sued Capital One in March, accusing it of illegally “de-banking” him for political reasons by abruptly canceling hundreds of accounts for his sprawling real estate business after his first term ended in 2021, and the bank has extended the closing of the merger to May 19. (VirginiaBusiness.com; Yahoo! Finance)

The Consumer Financial Protection Bureau reversed course Feb. 27 and dropped a federal lawsuit against McLean-headquartered Capital One and its parent company, Capital One Financial, which alleged the companies cheated millions of consumers out of more than $2 billion in interest payments. The federal government’s watchdog filed a dismissal with prejudice, meaning the case cannot be brought back to court if accepted by a federal judge in Virginia. The CFPB sued Capital One in the final days of the Biden administration, but President Donald Trump’s administration has moved to shut down the agency. (VirginiaBusiness.com)

A bill that would have given Fairfax County the right to hold a casino referendum died in the 2025 General Assembly session, after passing an earlier vote in the Virginia State Senate. The Senate legislation was not passed along for a later vote in a House of Delegates committee, stopping its progress. Local homeowners’ groups and other Fairfax County organizations spoke against a casino in Tysons, including Sen. Jennifer Boysko, who spoke on behalf of her “200,000-plus” constituents, who she said were “very clear” about their opposition. Boysko later was removed as chair of the Senate’s transportation committee. (VirginiaBusiness.com; Cardinal News)

Irregular air-traffic control staffing at Ronald Reagan Washington National Airport is under scrutiny after the Jan. 29 deadly crash when an Army helicopter collided with an American Airlines regional jet, killing 67 people. That night, a single air-traffic controller at Reagan was overseeing both helicopters and arrivals and departures of planes. U.S. aviation officials have tightened staffing rules for air-traffic controllers at Reagan, and FAA officials now want a stand-alone controller overseeing helicopter traffic more consistently at the airport. (The Wall Street Journal)

In an appearance at Capital One’s headquarters, Gov. Glenn Youngkin announced in late February that Virginia has 250,000 jobs open across various industries and unveiled an initiative to help connect job seekers to these positions. Tens of thousands of federal workers have been fired under President Donald Trump’s administration, and while Youngkin voiced support for the president’s stated goals of ending fraud and inefficiency, the governor said he had “extraordinary empathy” for Virginians who were part of the federal workforce who “are experiencing real concerns.” Youngkin announced a new website, VirginiaHasJobs.com, to assist people in finding new jobs. Virginia Senate Democrats criticized Youngkin, saying his comments were “nothing more than empty rhetoric.” (VirginiaBusiness.com)

Roanoke/ Lynchburg/ New River Valley

Air Filter Systems, a distributor of multiple lines of filtration products, will invest more than $1.5 million to build a facility in Bedford County and add up to 30 new jobs over the next three years. The company has purchased an 8.57-acre tract in the Montvale Center for Commerce and will construct a single-story 20,000-square-foot building that will be used as a corporate office, warehouse and distribution center. The company’s existing corporate office in Roanoke will close to expand and consolidate operations in Bedford County. (The News & Advance)

The U.S. Naval Nuclear Propulsion Program has awarded BWX Technologies contracts totaling about $2.1 billion, according to a Feb. 19 announcement by the Lynchburg-based nuclear components manufacturer and fuel supplier. The contract involves nuclear reactor component manufacturing and material procurement for Columbia- and Virginia-class submarines and Ford-class aircraft carriers. The work will be performed at the BWXT Nuclear Operations Group location in Lynchburg, as well as in Barberton and Euclid, Ohio, and Mount Vernon, Indiana. The work will be completed over a seven-year period that began in 2023, according to BWXT. (VirginiaBusiness.com)

The owner of Caverns Market in Roanoke County is looking to build a four-story hotel just behind the store, which is located near Dixie Caverns. Cavern LLC, the entity that owns the gas station and convenience store, filed an application Feb. 14 to rezone three parcels to high-intensity commercial. The three parcels, located at 5709, 5755 and 5751 Fallbrooke Drive, are zoned low-density residential and are currently undeveloped. The hotel would include 87 rooms and possibly a swimming facility, according to the concept plan. The project is scheduled to go before the Roanoke County Board of Supervisors April 22. (The Roanoke Times)

Six months after the record flooding from the remnants of Hurricane Helene, the Radford Army Ammunition Plant is still searching for four totes carrying toxic chemicals that were released into the New River. Floodwaters ripped open the doors of a warehouse at the plant and swept
13 containers filled with dibutyl phthalate into the river. At least three of the containers are known to have been damaged and released their contents — one of which is believed to have been emptied intentionally by a resident who found it. Dibutyl phthalate has been connected to decreased fertility, as well as liver and kidney toxicity. (Cardinal News)

Plans for a 36-unit apartment complex involve demolishing four century-old residences in the 2200 block of Richelieu Ave., across from the Crystal Spring commercial area. A stone’s throw from Carilion’s campus, the development may be the largest residential project proposed since Roanoke zoning reforms made building multifamily housing easier. Under the city’s old zoning laws, the property could only host 14 residential units or would have to face a rezoning hearing. Now, the property can accommodate up to 36 units. Developers for the project are Court Rosen, Alexander Boone and Ab Boxley. (Roanoke Rambler)

Timmons Group has opened an office on Norfolk Avenue in Roanoke, according to a March announcement from the engineering, design and technology services firm, which has its headquarters in Chesterfield County. Timmons has 20 offices located across Virginia, North Carolina, Maryland, South Carolina, Texas and Washington, D.C. Located at 109 Norfolk Ave SW, the Roanoke office is the company’s only Virginia office west of Charlottesville. A spokesperson for Timmons Group said that over the next three years, the firm hopes to have a dozen employees in the Star City. (VirginiaBusiness.com)

Shenandoah Valley

Wisconsin-based Clasen Quality Chocolate, which manufacturers chocolate and confectionery coatings for larger grocery chains and food companies, revealed in late February that it will invest $230 million to build a new production facility in Frederick County and create 250 jobs. The company operates four manufacturing facilities: three in Wisconsin and one in Nevada. The Frederick County facility is expected to help the company meet rising demand and will be located at Valley Innovation Park, a 145-acre industrial park. (VirginiaBusiness.com)

In early March, Jon Henry — owner of Jon Henry General Store in New Market — revealed he would have to cancel planned produce giveaways designed to help people in need and underserved or socially disadvantaged farmers in March and April. The cancelation was due to the Trump administration placing many federal grants and loans on hold to ensure they align with the administration’s priorities. Henry had received a $85,000 federal grant through the U.S. Department of Agriculture that allowed him to purchase produce, meat and dairy from farmers within 400 miles of its delivery destination.  (The Northern Virginia Daily)

Construction of a 1 million-square-foot industrial tech facility along Millwood Pike (U.S 50) east of Winchester near Interstate 81 is complete. The building is the centerpiece of the first phase of One Logistics Park, a 2.8 million-square-foot industrial hub being developed by The Meridian Group and Wickshire Industrial. Located at 1251 Coverstone Drive in Frederick County, the recently completed facility is billed as “the largest speculative industrial building” opening this year in the Northern Virginia/I-81 corridor. It received its certificate of occupancy in February. A tenant is being sought for the building. (The Winchester Star)

Serioplast, an Italian plastic packaging manufacturer, will open an industrial plant in Shenandoah County, investing $25.7 million and creating an expected 45 jobs. The company, which was founded in 1974 and has 33 production facilities in 16 countries with more than 2,000 employees, provides rigid plastic packaging for Procter & Gamble, Unilever and other companies. Serioplast will move into a 140,000-square-foot industrial building, according to the governor’s office. The company’s U.S. headquarters is in St. Louis, and it has a facility in North Carolina. (VirginiaBusiness.com)

The Shenandoah County Economic Development Authority on Feb. 19 approved an extension for Howell Metal Co. to meet the requirements of a $400,000 Commonwealth Opportunity Fund grant. Awarded in 2019, the grant was aimed at supporting Howell Metal’s expansion of its New Market manufacturing facility. The original agreement required the company to invest more than $8 million and create 102 new jobs by July 31, 2024. Howell Metal did not meet the performance benchmarks by the deadline. However, the EDA voted to extend the company’s timeline, giving Howell Metal until Dec. 31, 2025, to meet its investment obligations. (The Northern Virginia Daily)

Chantilly-based sheet metal products manufacturer ZM Sheet Metal plans to relocate its Frederick County operations next year into a new 160,000-square-foot industrial building in Stonewall Industrial Park. The company, which specializes in services for HVAC manufacturers and ductwork, currently operates a 100,000-square-foot manufacturing plant at 260 Lenoir Drive in Frederick. ZM’s new plant in Stonewall Industrial Park will be located at 554 McGhee Road and has the capacity for the 100-person company to accommodate 300 workers on-site. The new production facility will be ZM Sheet Metal’s main manufacturing facility, distributing to nine states. (VirginiaBusiness.com)

Southern Virginia

Amid ongoing financial troubles, Averett University eliminated about 15 positions on March 7. The jobs include both full- and part-time staff and administrative faculty; however, details of which positions were eliminated were not immediately clear. In the first quarter of 2024, Averett’s then-president, Tiffany Franks, announced what she termed a “misrepresentation in what was being reported” regarding the school’s financial health. That was followed by employee furloughs, a hiring freeze, the elimination of six majors and other cost-saving measures. Franks retired on Jan. 6 and was succeeded by David Joyce. (Danville Register & Bee)

On March 4, Danville City Council members approved a special-use permit for a 120-room hotel planned for River Street. The vote allows developers to build a four-story Hyatt Studio at the former Dan River Inc. Long Mill property, which contains frontage on the Dan River. The $30 million-plus project is a joint endeavor by Lansing Melbourne Group, based in Concord, North Carolina, and Durham-based 1st & Main Development. The developers plan to begin site work in April and expect construction to be completed in July 2026. (Danville Register & Bee)

Two families in Henry and Pittsylvania counties’ Axton community have filed suit against an Axton solar company for $3.3 million. The lawsuit filed on behalf of Barry and Brenda Moxley and Roger and Kathy Chriscoe against Energix, an Arlington County-based renewable energy company, and a subsidiary was filed in Henry County Circuit Court at the end of 2024. The lawsuit alleges that construction of an industrial-scale solar facility next to their properties has brought noise, flooding, smoke, dust, and debris and rendered the value of their homes and land nearly worthless. The suit seeks $2.25 million in damages for the Moxleys and $1.05 million in damages for the Chriscoes. (Martinsville Bulletin)

In late February, members of the Mecklenburg County Planning Commission held a public hearing on a proposed solar ordinance that would eliminate from permitted uses all references to large or utility-scale projects, effectively ending the opportunity for large-scale or utility-scale solar developers to build such facilities anywhere in in the county. At the suggestion of county Zoning Administrator Robert Hendrick, members of the commission deferred a recommendation on the proposed ordinance until late March to allow planners to fully consider the zoning amendment as well as any public comments. (The Mecklenburg Sun)

PEOPLE

Del. Danny Marshall, R-Danville, announced in February that he will not seek reelection this fall for his seat in the House of Delegates. Marshall, whose term will run through the end of the calendar year, has served for almost 25 years and had a hand in some of the region’s biggest economic development deals and revitalization projects. He said he’s proud to see Microporous move into the Megasite at Berry Hill, which he says will bring good-paying jobs with benefits and an increase in tax revenue to support area schools and public safety. (Cardinal News)

Charlette Woolridge succeeded Betty Adams as executive director of the Southern Virginia Higher Education Center (SVHEC), effective March 25. Previously, Woolridge served as county administrator for Greensville County and Brunswick County. She currently serves as vice chair of the Southside Virginia Community College Local Board and previously served two terms on SVHEC’s board of trustees. Woolridge earned a doctorate in public policy and administration from Virginia Commonwealth University. Adams announced in 2024 that she planned to retire after leading SVHEC for nearly 16 years. (News releases)

Southwest Virginia

Addiction Recovery Care in mid-February applied for a license from the Virginia Department of Behavioral Health and Developmental Services to provide residential substance abuse care at Wildwood Recovery Center, the drug treatment center for men recently built in Dickenson County. Headquartered in Kentucky, ARC plans to also operate the Primrose Recovery Center for women, which will be built at a former school in Nora. Dickenson has one of the highest overdose death rates in the state, which has negatively impacted the county’s economic development efforts. (Cardinal News)

Through three foundations, American Electric Power contributed $150,000 to relief efforts in eastern Kentucky, Southwest Virginia and southern West Virginia following historic flooding in mid-February. The AEP Foundation donated $50,000 to the American National Red Cross. The Appalachian Power Foundation donated $25,000 each to the United Methodist Foundation of West Virginia and the United Way of Southwest Virginia. The Kentucky Power Foundation donated $25,000 to the Appalachian Service Project in Kentucky and $25,000 to the Foundation for Appalachian Kentucky. (The Coalfield Progress)

U.K.-based business development firm Oasthouse Ventures, which specializes in low-carbon greenhouses, is investing $104.8 million to construct its first U.S.-based controlled environment agriculture operation in Carroll County, where it plans to produce tomatoes. Gov. Glenn Youngkin announced Feb. 28 that the project will initially create 118 jobs, with a total of 265 full-time and part-time positions. Over the next three years, Oasthouse will produce and package over 45 million pounds of tomatoes for distribution to major retailers throughout the northeast, southeast and midwestern United States, and source more than 31,000 tons annually of Virginia-grown hardwood residuals from local sawmills to heat its greenhouses. (VirginiaBusiness.com)

Theatre Bristol in Bristol, Tennessee, announced in mid-February it had acquired the 100-year-old Cameo Theater in Bristol, Virginia. The Cameo underwent rehabilitation and reopened in 2022 before closing in spring 2023. It went back on the market in mid-2023 with a $2.9 million asking price. Theatre Bristol officials also announced a $1 million capital fundraising campaign for the Cameo and to redevelop the multiuse Artspace Theatre. Theatre Bristol plans to keep its current Artspace on State Street and continue performing at the Paramount Center for the Arts, both in Bristol, Tennessee. (Bristol Herald Courier)

The University of Virginia’s College at Wise is one of 20 institutions that will receive a capacity-building grant through the Virginia Talent + Opportunity Partnership, the college announced Feb. 25. The State Council of Higher Education for Virginia administers the grant program, which awards up to $150,000 to each institution. U.Va. Wise will use the funding to enhance its infrastructure for work-based learning, hiring two program assistants to support students and employers in internships and other work-based learning opportunities. The college’s faculty voted in 2023 to make experiential learning a graduation requirement for undergraduate students. (News release)

The Virginia Coalfield Economic Development Authority’s board approved two loans and three grants totaling a cumulative $4.58 million in its Feb. 20 meeting. West River Conveyors and Machinery will use an up to $4 million loan to construct a building at the Southern Gap Industrial Park in Buchanan County. The board also approved an up to $350,000 loan to the Russell County Industrial Development Authority, an up to $9,142 grant to Appalachian Family Care, an up to $200,000 grant to the University of Virginia’s College at Wise Foundation and an up to $27,358 grant to the Breaks Interstate Park Commission. (News release)