For the Record – November 2016

 SOUTHERN VIRGINIA 
 Ross Fickenscher  and Garrett Shifflett are developing 60 0 Craghead St., which will have two commercial spaces at street level — including Ballad Brewing — and 56 apartments on the upper levels. Fickenscher and Shifflett are receiving $90,805 from the Virginia Tourism Growth Fund for the project, which is expected to be completed in April. Danville Mayor John Gilstrap said this project will bring the partners’ total investment in the city’s River District to about $28 million. (Danville Register & Bee)

In September, Danville City Council unanimously approved rezoning land at South Main Street and Fulton Heights for a motel, restaurant and conference center. Applicant Paresh Suthar requested rezoning a total of about 3.5 acres from Old Town Residential to Highway Retail Commercial. Mark Talbert, of Dewberry, said the motel would be a $4.5 million investment and create 13 to 16 full-time jobs. (Danville Register & Bee)

Eastman Chemical Co. officials presented a $125,000 check in October to the Smith River Small Towns Collaborative, a revitalization effort that targets buildings, streetscapes and other features along an area called “Fifteen Magical Miles” in Fieldale, Bassett, Stanleytown and Koehler. Those miles follow the roads and the Smith River where the furniture and textile industries once thrived. Eastman employs more than 700 people at its sites in Henry County. (Martinsville Bulletin)

Goodyear plans to contest more than $1 million in fines issued by the state, which cited more than 100 violations at the company’s Danville plant after safety and health inspections. The plant had four employee deaths from August 2015 to August 2016. The Virginia Department of Labor and Industry’s Virginia Occupational Safety and Health program cited two willful and two serious violations and $152,600 in penalties in response to the April 12 death of Charles “Greg” Cooper.(Danville Register & Bee)

Work has begun to transform the former AVRC building in Danville into the North American headquarters of Overfinch, a British car company that customizes Range Rovers and transforms them into luxury vehicles. In July, Overfinch announced its plan to open the plant in Cyber Park, which is owned by the Danville-Pittsylvania County Regional Industrial Facility Authority. The company said it would take 60-90 days to complete the renovations, and hiring would begin this fall. (Danville Register & Bee)

 SOUTHWEST VI RGINIA 
Roanoke-based Meridium announced in September that it has become a wholly owned subsidiary of GE Digital, a division of General Electric. GE said that the total value in acquiring Meridium was $495 million, which includes an investment GE made in the company in 2014. Bonz Hart, who founded Meridium in 1993, will remain the company’s CEO. Meridium also will retain its name and continue to be based in Roanoke. (The Roanoke Times)

Texas-based Pharos Capital Group has acquired TechLab, a Blacksburg-based company that creates rapid tests for intestinal diseases. Co-founders Tracy Wilkins and David Lyerly previously sold 49 percent of the company to publicly traded Alere in 2006. Terms of the deal were not disclosed, but SEC records show Alere estimated as recently as December 2015 that its 49 percent stake was worth about $13.3 million, up from the $8.8 million it paid 10 years earlier. (The Roanoke Times)

The new owners of Tanglewood Mall snagged the property for $22.7 million, according to Roanoke County real estate records. Alabama-based development company Blackwater Resources bought the property Sept. 15. The mall property covers more than 58 acres in Roanoke County. (The Roanoke Times)

The Botetourt County Board of Supervisors gave final approval in September to an incentives package that helped bring a community college services center — and up to 190 jobs — to Daleville. Under the agreement, the county will provide 117 cubicle work stations for the Virginia Community College System’s center, which will place under one roof many administrative functions that previously were performed at the state’s 23 community colleges. (The Roanoke Times)

Virginia Tech plans to spend $225 million on a business and analytics complex. Construction is projected to begin in 2020 and be completed in about 2023. The complex is expected to include two dormitories and two academic buildings, which would become the new home of the Pamplin College of Business and house research space in Tech’s data analytics and decision sciences destination area. (The Roanoke Times)

SHENANDOAH VALLEY
 Christendom College  leaders have announced a $40 million fundraising campaign. The money would be used to build a new chapel on its Front Royal campus and provide financial support for the college and its students.  So far, the college has raised more than $28 million, or about 72 percent of its total goal. Christendom President Timothy O’Donnell said the college hopes to complete the campaign by its 40th anniversary in 2018. (The Northern Virginia Daily)

Military tent maker  HDT Global  plans to move its Buena Vista operations to Huntsville, Ala. Brian Brown, Buena Vista’s director of economic development, said the move will affect 80 to 100 employees. Ohio-based HDT also plans to consolidate operations in the Fredericksburg area with a new facility that will “expand our capabilities and facilitate innovation and product development.” (The Roanoke Times)

 Natural Bridge  in Rockbridge County is now a state park. In September, Gov. Terry McAuliffe declared the geological formation and its 1,500 surrounding acres as the new Natural Bridge State Park. Although the Natural Bridge attraction has faltered financially in recent years under nonprofit ownership, its new management by the state park system is expected to boost visitation, stabilize the bottom line and forever protect its natural and historic resources from commercial development. Natural Bridge also will become an affiliated area of the National Park Service. (The Roanoke Times)

 Shenandoah Telecommunications Co.  (Shentel) announced that the company has b een chosen to provide dark fiber connections between all municipal buildings in Harrisonburg, as well as lit fiber services and dedicated Internet access to all of the Harrisonburg City School buildings. Edinburg-based Shentel services include wireless voice and data; cable video, Internet and voice; fiber network and services; and local and long distance telephone. (News release)   

The Virginia Military Institute  Foundation has raised more than $300 million in its largest fundraising campaign ever. The goal of the fundraising effort, “An Uncommon Purpose: A Glorious Past, A Brilliant Future: The Campaign for VMI,” was $225 million. More than 14,000 donors have participated in the campaign, which included 53 gifts of $1 million or more and two gifts of more than $20 million each. (VirginiaBusiness.com)

EASTERN VIRGINIA
The Council on Occupational Education has reaccredited  The Apprentice School of Newport News Shipbuilding , a division of Huntington Ingalls Industries Inc. The apprentice school, which has operated for 97 years, has been reaccredited through 2022. The school o ffers four- to eight-year apprenticeships in 19 trades and eight optional advanced programs. Apprentices work a 40-hour week and are paid for time at work in addition to their time in academic classes. (VirginiaBusiness.com)

The Port of Virginia announced it has an almost 50-year lease of the Virginia International Gateway (VIG) marine terminal in Portsmouth. The lease, which lasts until 2065, will give the port oversight of the terminal and its operations. Plans also include a $320 million investment to double the capacity of the highly automated terminal. The lease was signed between the port and Virginia International Gateway Inc., which is owned by Alinda Capital Partners and Universities Superannuation Scheme (USS). (VirginiaBusiness.com)

ST Tissue LLC recently announced a $35 million expansion in Isle of Wight that’s expected to create 50 jobs. The company has been in Isle of Wight County since 2013 making tissue, towel and napkin products for commercial use and employs more than 85 people. Incentives include a $167,500 grant from the Commonwealth’s Opportunity Fund. (The Virginian-Pilot)

TowneBank has opened its new Richmond headquarters at the Gateway Plaza building downtown. The Hampton Roads-based bank is leasing about 39,000 square feet in the building. TowneBank recently merged with Chesapeake-based Monarch Financial Holdings Inc. With the acquisition, TowneBank’s assets now total about $7.58 billion. (VirginiaBusiness.com)

The U.S. Army Corps of Engineers has cleared the way for construction of a new U.S. 460 from Suffolk to Zuni, but the $425 million project must be ranked by the state to determine whether it will be built. Construction of the new highway will be decided through the state’s Smart Scale process for setting transportation priorities. The project will be ranked by January for a decision by the Commonwealth Transportation Board by June. (Richmond Times-Dispatch)

NORTHERN VIRGINIA
A former employee with a top secret clearance at  McLean-based Booz Allen Hamilton Inc.  has been accused of stealing highly classified computer code used to hack computer systems in countries such as Russia, China, Iran and North Korea. Harold Thomas Martin III of Glen Burnie, Md., was charged with theft of government property and unauthorized removal or retention of classified documents. He worked as a contractor at the National Security Agency. (Washington Business Journal)

Reston-based  IBC , a DBS Company, a technology and management consulting firm,  has a new name, Dominion Consulting. The company al so launched a new website, www.dominionconsulting.com. (News release)

Members of New Mexico-based High Plains Federal Credit Union have voted to merge with Alexandria-based  PenFed Credit Union . Under the merger, more than 6,000 members will join PenFed, which has 1.4 million members worldwide and $20 billion in assets. PenFed was established in 1935 as the War Department Credit Union. High Plains Federal is located in Curry County, N.M., home to Cannon Air Force Base.  High Plains Federal has two branches and almost $39 million in assets. (VirginiaBusiness.com)

The  Northern Virginia Chamber of Commerce  and George Mason University have created a partnership designed to h elp drive the regional economy. Under the agreement, the chamber and GMU will work together in developing degree programs that address regional workforce needs. The chamber and the university also will co-host events, share office space and connect businesses with Mason faculty and researchers. (VirginiaBusiness.com)

Ashburn-based OneGlobe LLC, an IT and professional services consulting firm, has opened a second office in Reston to accommodate plans for an expansion. The new office at 12110 Sunset Hills Road, Suite 652, in Reston will provide capacity for engineering, sales and leadership functions across the company. Founded in 2005, OneGlobe’s core competencies include IT architecture and system development using Agile and DevOps development practices. (VirginiaBusiness.com)

CENTRAL VIRGINIA
Richmond-based   Dominion Resources Inc.   and  Questar Corp.  have completed their merger, forming o ne of the nation’s largest combined electric and natural gas energy companies. Salt Lake City-based Questar’s “hub of the Rockies” system is a principal gateway for gas supply to Western states. (Richmond Times-Dispatch)

The Washington, D.C.-based  International Economic Development Council (IEDC)  has recognized the Greater Richmond Partnership as one of 52 Accredited Economic Development Organizations (AEDO). Created in  1993, the AEDO program recognizes the professional excellence of economic development organizations in North America, providing them independent feedback from national peers. (VirginiaBusiness.com)

Financial services company Markel Corp. is laying off 80 people in its information technology department as the Henrico County-based company turns to an outside contractor for part of its IT work. The layoffs — including about 40 at the company’s headquarters in Henrico County — marks the first time the specialty insurer has laid off a large number of employees in recent memory, if ever. The layoffs will be phased in over a nine-month period, the company said. Markel’s global workforce is about 10,600. (Richmond Times-Dispatch)

The State Council of Higher Education for Virginia approved a contingency plan in September giving an 18-month grace period to schools that receive their accreditation from the Accrediting Council for Independent Colleges and Schools. The accreditation agency is under fire for the poor outcomes of students, based on their job placement, graduation and loan repayment rates. Termination was recommended in June by U.S. Department of Education staff members and by a federal panel, the National Advisory Committee on Institutional Quality and Integrity. (Richmond Times-Dispatch)

Stone Brewing Co. said in October it plans to lay off 5 percent of its employees because of an “unforeseen slowdown” in business growth. The San Diego-based company did not say specifically how many employees would lose their jobs, or whether any job cuts occurred at the much-heralded brewery the company opened in Richmond’s Fulton neighborhood this year. Stone said on its website that it has more than 1,100 employees. (Richmond Times-Dispatch)