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November 2024

Welcome to the November 2024 issue of Virginia Business. Below are the articles from that print issue.

Oct 31, 2024

Vibe check

No studies have found a higher prevalence of clairvoyance among labor market experts than in the average population. Since they can’t see the future, these professionals sift through data and surveys to figure out what the coming months may hold. Some reading these tea leaves have predicted employers may soon be suffering thro[...]

Oct 31, 2024

All in good time

For decades, the promise of economic revitalization has tantalized Southwest Virginia. The sparsely populated region, once home to booming coal mining and tobacco industries, has had money and resources thrown at it by local, state and federal governments, but it’s still had a difficult time finding its footing. As the region�[...]

Oct 31, 2024

Return to uncertainty

In the wake of the Federal Reserve lowering interest rates by half a percentage point in September, the stock market has been setting records, hiring numbers are trending strong, and the inflation rate has been slowly edging downward. Nevertheless, many businesses — and workers — seem to be in a state of anxious uncertainty,[...]

Oct 31, 2024

Mind the gap

Margaret Abrams was studying engineering at Liberty University when she came across an online job advertisement from Newport News-based Huntington Ingalls Industries. HII, Virginia’s largest industrial employer, was offering a $2,500 signing bonus to job candidates who successfully completed a 16-week computer numerical contro[...]

Oct 31, 2024

Virginia is for HQs

When CoStar Group was searching for its new headquarters in 2022, Central Place Tower at 1201 Wilson Blvd. in Arlington County, with its impressive accompanying bird’s-eye views, captured the company’s attention.  Located about a quarter mile from the Potomac River, the gleaming, 391-foot-tall Class A office building fe[...]

Oct 30, 2024

Making do

A flat tire can mean different things to different people. Maybe it’s a postponed appointment and a call to AAA. Or maybe you have to get a ride to work from your spouse. But for some folks, a flat tire can start a snowball effect. “For so many, that flat tire, that’s the end, right? It […]

Oct 30, 2024

Virginia 500 Spotlight: JENNIFER WAKEFIELD

What I was like in high school: A nerd involved in everything One thing I’d change about Virginia: More marketing dollars at the state level to increase and enhance perception among C-suite executives globally. Sadly, our competitors all outspend and out-market us. Where I see myself 10 years from now: In the same role, cr[...]

Oct 30, 2024

FOR THE RECORD NOVEMBER 2024

CENTRAL VIRGINIA Altria Group and Virginia Commonwealth University are discussing the possibility of the university buying the 450,000-square-foot Altria Center for Research and Technology in downtown Richmond, the two parties acknowledged in October. The East Leigh Street building is assessed at $275 million. If the deal comes to fruition, Altria plans to build a new […]

Oct 30, 2024

Amazon, Dominion agree to explore nuclear development

With power consumption by data centers and AI projected to more than quadruple in Virginia in the next 15 years, Amazon.com and Dominion Energy Virginia have entered into an agreement to explore potential development of small modular nuclear reactors at North Anna Power Station in Louisa County, the two companies announced durin[...]

Oct 30, 2024

STARTVIRGINIA: HEARD AROUND VIRGINIA

Afton Scientific, a manufacturer of sterile injectable pharmaceuticals, plans to invest over $200 million to expand its manufacturing facility in Albemarle County, creating more than 200 jobs, Gov. Glenn Youngkin announced Oct. 2. In January, Arlington Capital Partners, a private investment firm specializing in government regulated industries and closing gaps in sectors like health care, […][...]

Oct 30, 2024

Top Five November 2024

1   |   U.S. port strike stops cargo operations at Port of Va. About 45,000 union dockworkers walked off the job at every major port along the East and Gulf coasts until they ended the strike after reaching a tentative deal three days later. (Oct. 1) 2   |   Three Va. universities have […]

Oct 30, 2024

Harrisonburg coworking hub slated to open in December

UPDATED NOV. 1 James Madison University in Harrisonburg has long wanted to be more involved with innovation and entrepreneurship in the Shenandoah Valley region. So, when a co-founder of the Staunton Innovation Hub coworking space announced plans in 2022 to renovate the historic Wetsel Seed building into the Harrisonburg Innovat[...]

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