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Blackstone completes Jersey Mike’s Subs acquisition
A spokesperson for Manasquan, New Jersey-based sandwich chain Jersey Mike’s Subs told NJBIZ that Blackstone completed its acquisition of a majority stake in the company Jan. 16. They added the terms of the deal remain unchanged from the private equity behemoth’s November 2024 announcement. Blackstone did not immediately [...]
Metal fabrication company expanding Virginia headquarters
Virginia Gov. Glenn Youngkin announced Tuesday that service disabled- and veteran-owned metal fabrication company TST Fab & Machine is investing $3 million to expand its existing Norfolk headquarters, with plans to create 56 jobs. Headquartered at 1060 W. 27th Street in Norfolk, the company fabricates sheet metal and manufac[...]
Defense optics manufacturer to open Virginia Beach facility
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 Friday. The New Hampshire company’s manufacturing facility is moving into a 1[...]
Sheet metal plant begins construction in Frederick
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. ZM Sheet Metal, which specializes in services for HVAC manufacturers and ductwork, currently operates a 100,000-square-foot [...]
Financial Services: Federal policy, tariffs create economic uncertainty
Economists around the state are still speaking positively about Virginia’s economy — but there’s an elephant in the room. The University of Virginia’s Weldon Cooper Center for Public Service expects the state’s gross domestic product will increase 2.4% this year, up from 1.9% anticipated for the nation in a Moody’s f[...]
Economic Development: Shovel-ready sites bring bigger projects to Va.
Site-readiness spending — a priority for Gov. Glenn Youngkin since he took office in 2022 — seemed to truly bear fruit in 2024, especially in Central and Southern Virginia. In Chesterfield County alone, Super Radiator Coils announced plans last year to expand its facility, creating 160 jobs, and Danish electrolyzer manufactu[...]
