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Peninsula businesses to get capital boost

Small and midsize businesses in distressed and underserved areas of and will be able to access economic support through a new $50 million low-interest business loan program.

Launched in June by the nonprofit Greater Peninsula C.A.R.E.S. Foundation, the Peninsula Cooperative Fund is designed to close funding gaps and boost minority-owned businesses. PCF is managed by a five-member board that includes Health’s chief administrative officer, Aubrey Layne.

“Our goal is to provide opportunities for businesses that are underfunded and undercapitalized to be put in growth positions,” says Brian Woolfolk, PCF’s general counsel. “There is no shortage of need.”

Businesses will be able to obtain of up to $5 million. The fund also plans to launch microloans for smaller businesses. Organizers aim to raise the $50 million and have the fund operational by summer 2026.

Twenty to 35 businesses could be assisted during the fund’s 10-year life span. Woolfolk says the fund could then be renewed and expanded to other areas, including South .

Key growth industries the fund plans to target include energy, advanced manufacturing, , , aerospace and defense. “We want to work with businesses within those industries and help them scale up to benefit from the economy on the Peninsula,” PCF Chair Joni Ivey says.

Expected initial investors in the fund include Sentara, and City First Bank, which is acting in an advisory role for PCF. Investment amounts have not been disclosed. PCF board members are meeting with other potential donors, including national organizations that work with Community Development Financial Institutions (CDFIs) like City First Bank that provide affordable loans to low-income individuals and businesses.

Newport News and Hampton each invested $200,000 in the fund as seed money. Both cities have been identified as Community Development Financial Institution Deserts by CDFI Friendly America, meaning they receive less than $571 per capita in investments from CDFIs.

Hampton Mayor Jimmy Gray says the fund will provide access to capital for and existing businesses seeking to expand. “It’s a great opportunity for Hampton. The long-term benefits will be transformative for our community.”

Businesses also will receive technical assistance and mentoring, says Newport News Mayor Phillip Jones. “It’s more than just writing a check. It helps businesses for the long term. This is not a handout. It’s a hand up.”

 

Virginia 500 Spotlight: KERRY WOOLARD

FAVORITE FASHION ACCESSORY: A classic Chanel necklace. I wear mine to work or with a white T-shirt and a pair of jeans. It is such a classic way to look polished without being overdone or fussy.

HOW I DEFINE SUCCESS: Doing something better today than we did it yesterday. Generally, just progress. I love to constantly push myself and our team to continue to achieve. Even when a project is “finished,” I continue to seek new/better ways to enhance the offering or streamline the process.

ON INTEGRATING AI: It is an absolute must. I view AI as a force multiplier for whatever you’re doing. In and agriculture, AI won’t replace humans, but it will (and has) given us the opportunity to move faster and do more with the resources we have.

TRAITS I ADMIRE IN OTHERS: Overall: grit, determination and just being hungry to succeed.

DID YOU KNOW? Purchased by in 2011, the winery has been owned by his son Eric since 2012, the same year they hired Woolard, who previously was events manager for the Thomas Jefferson Foundation. “Donald Trump is a man of vision. He isn’t a wide-eyed dreamer but someone who sees things that others don’t and turns that vision into reality,” Woolard said as a speaker at the 2016 Republican National Convention. “When Donald Trump purchased the winery in 2011, it was in receivership. Quickly and decisively, he went to work building the hotel, replanting the vines and making it a world-class destination and the largest vineyard in Virginia.”

Marion museum aims to ‘Do the Dew’

The Birthplace of Modern is expected to draw thousands of tourists with a thirst for history when it opens in the small town of in May 2026.

It will highlight the town’s role in improving a created in Tennessee in the 1940s. Bill Jones, general manager of Tip Corporation of America, conducted taste tests in Marion to revise the formula in 1961. Pepsi-Cola purchased the soda brand in 1964.

Marion entrepreneur Joe Ellis came up with the idea for the museum, aiming to help revitalize the town after the region’s textile and furniture industries moved overseas. It’ll be located in a 1940s former pharmacy on Main Street with a lunch counter where Jones conducted some of his taste tests.

“We have found the original stools, and they’ve been refurbished, so we’re anxious to recreate the actual lunch counter and to offer Mountain Dew,” Ellis says. “We are planning to have something called ‘Do your own Dew,’ where you get to be Mr. Jones and make a soft drink.”

The museum will also tell Jones’ story, feature videos of townspeople reminiscing about participating in his taste tests, and showcase Mountain Dew commercials, bottles and other paraphernalia.

Ellis and his partners own the building and plan to have the façade finished by the end of the year. Arnold Design Studio, a Christiansburg architectural firm, estimates the project will cost $1.2 million, he says. Fundraising is underway by Magnetic Attractions, a nonprofit that will run the museum.

Ellis set out to find Marion’s “magnets” in 2003 and helped restore The Lincoln Theatre, one of the last remaining Mayan Revival-style theaters in the world. It’s now home of the long-running PBS show “Song of the Mountains.”

Finding proof that Marion was the birthplace of modern Mountain Dew took longer. The town finally received a Virginia Department of Historic Resources marker highlighting that fact in May. PepsiCo representatives attended and granted approval for the museum’s name, Ellis says.

He says the museum could draw more than the roughly 50,000 people who visit The Birthplace of Pepsi, a smaller museum, store and soda fountain in New Bern, North Carolina.

“It will be tremendous for us,” says Ken Heath, executive director of Marion’s Community & Economic Development Department. “If we can sell on the sizzle, they’ll get here and they’ll love the steak.”

 

Out and About September 2025

1. Caesars Virginia guest Jill P. won $327,282 in Three Card Poker, according to an Aug. 7 announcement by the Danville casino resort. (Photo courtesy Caesars Virginia)

2. (L to R) Spotsylvania County Assistant County Administrator Wanda Parrish; Jeff Faircloth, vice president of building supply for The Lester Group; Fitzhugh Johnson III with Johnson Realty Advisors; and The Lester Group President Dana Cowart participated in a July 28 groundbreaking for The Lester Group’s subsidiary Fortress Truss at Spotsylvania Industrial Park. (Photo courtesy The Lester Group)

3. U.S. National Economic Council Director Kevin Hassett, AstraZeneca CEO Pascal Soriot, and Secretary of Commerce and Trade Juan Pablo Segura were among the dignitaries gathered in Washington, D.C., for the July 21 announcement that the biopharmaceutical company has selected Virginia for its largest single facility investment to date. (Photo courtesy Office of Gov. Glenn . Photo by Kaitlyn DeHarde)

4. Traditional Medicinals CEO Joe Stanziano spoke at the July 29 groundbreaking for the tea company’s Franklin County manufacturing plant. (Photo courtesy Traditional Medicinals)

5. (L to R) Glory Days Grill executive Jim Rafferty speaks with U.S. Sen. Tim during an Aug. 6 gathering in Burke to discuss Trump administration trade and policies with restaurant owners and executives. (Photo courtesy Office of Sen. Tim Kaine)

Luray Airport lands major upgrade

Until recently, planes flying in and out of Caverns were serviced by a terminal that could most kindly be described as humble.

The white, clapboard 945-square-foot structure, which dated back to the turn of the last century, had once housed chickens and “was more or less falling down,” recalls Edwin P. Markowitz, longtime secretary-treasurer of the Luray-Page County Airport Authority, which manages the airport.

However, that dilapidated structure was replaced in October 2024 by a new $4.3 million, 4,582-square-foot terminal with a spacious lobby and amenities including a pilot’s lounge and conference and flight-planning rooms.

The airport celebrated the terminal’s grand opening in April.

The financing for the upgrade was complex enough “to cause your head to explode,” Markowitz says. The U.S. Department of Agriculture provided a $4.26 million loan covering the local share of the terminal financing, plus the 2023 construction of 18 new hangars and refinancing of existing ones. The state also provided a $1.01 million grant for the hangar project. In addition, the Federal Administration and Virginia Department of Aviation together provided $3.85 million in grants for terminal construction and a new parking lot.

Virginia’s U.S. senators, Democrats Mark Warner and Tim , were instrumental in securing federal help for the upgrades. “Small airports like this one are critical to supporting emergency services, connecting local businesses to the larger economy and more,” the senators said in a joint statement.

A 2016 economic study backs up the senators’ assertion about the airport’s regional value, finding that Luray Caverns Airport added more than $2 million annually to the local economy, a figure that Markowitz expects to be much larger after the results of a 2025 study are released.

Since the airport opened in the early 1970s, it has grown from 40 acres to 120 acres, and it now logs about 10,000 annual takeoffs and landings, many of them -related because of the airport’s proximity to the caverns and Shenandoah

National Park. Except for some military usage, all its air traffic is noncommercial. Forty-four planes estimated to be worth more than $10 million are housed on-site, and the airport now has 43 hangars.

“We’re very pleased with the outcome” of the project, Markowitz says, “and grateful for the support we received.”

 

For the Record: September 2025

CENTRAL VIRGINIA

HCA Virginia plans to construct a new $260 million hospital in Chesterfield County, citing the county’s growing population. In a July filing with the Virginia Department of Health, the health system detailed a plan to build a 60-bed acute care hospital — known as Magnolia Hospital — on an approximately 24-acre property in Moseley, located at 16100, 16300, and 16500 Hull Street Road. Magnolia Hospital would contain 54 /surgical beds, six intensive care unit beds, four general-purpose operating rooms and one MRI scanner. HCA says it anticipates adding approximately 360 full-time workers to staff the hospital. (VirginiaBusiness.com)

Richmond pharmaceutical manufacturer Phlow announced July 22 that it had raised $37 million in a Series C funding round led by Align Private Capital. The funding round, which was also supported by additional new and follow-on investors, contributed to the more than $93 million in private capital Phlow has raised since it was founded in 2020. The company has also secured more than $600 million in government contracts. Phlow says the Series C funds will help accelerate its expansion in the U.S., with a focus on scaling the company and investing in AI-powered systems and advanced pharmaceutical manufacturing technologies. (VirginiaBusiness.com)

The Richmond Flying Squirrels‘ new stadium will have professional baseball’s largest solar panel array, subject to local and state approval. Virginia announced Aug. 5 that it plans to install a solar array on the roof and parking lot of CarMax Park, the Minor League Baseball team’s future home. The park is slated to open in spring 2026, but the installation of more than 1,700 solar panels will take place after the season. The solar array will generate about 1 megawatt of electricity. (VirginiaBusiness.com)

The Board of Visitors tapped former U.Va. School of Law Dean Paul G. Mahoney as interim president. Taking office on Aug. 11, he is expected to serve until a permanent hire is made to replace former U.Va. leader Jim Ryan, who resigned in late June following pressure from the Trump administration. Mahoney is a David and Mary Harrison Distinguished Professor in the law school and was its dean from 2008 to 2016. He succeeded acting president Jennifer “J.J.” Wagner Davis, U.Va.’s executive vice president and chief operating officer. (VirginiaBusiness.com)

VCU Health announced July 29 that it would stop providing gender-affirming medical care, including medications, at Children’s Hospital of Richmond at VCU for patients under age 19. The services will no longer be offered by November. The health system said the decision came after “much consideration and based upon current understanding of federal and state directives.” This marks a change from its decision earlier this year to halt all surgical procedures for transgender teens while continuing to provide medical care and counseling. (VirginiaBusiness.com)

PEOPLE

Glen Allen-based real estate firm Cushman & Wakefield | Thalhimer announced Aug. 4 that Jim Roman has joined the company’s Richmond office as senior vice president and new leader of commercial property services, which manages more than 28 million square feet across Virginia. Roman succeeded David P. Oddo, who retired Aug 1. Roman has more than 25 years of experience working in the commercial real estate industry. He most recently served as director of property management for CBRE in Greenville, South Carolina. (VirginiaBusiness.com)

EASTERN VIRGINIA

Atlantic Dominion Distributors, the Virginia Beach-based subsidiary of a 150-year-old parent company, is set to close. As a result, 104 people will be laid off by Sept. 26. Atlantic Dominion Distributors, which is owned by Old Dominion Tobacco Co., has sold its inventory assets to Southco Distributing, based in Goldsboro, North Carolina, according to a company news release. Atlantic Dominion informed the state government of the closing of its wholesale and vending distribution operations in Virginia Beach and Williamsburg in a July 30 letter to the Virginia Workforce Network’s Rapid Response program. (Virginia Business)

Chesapeake City Council in July unanimously approved a rezoning request that will allow for the construction of up to 137 condo-style units on an almost 40-acre property in the city’s Greenbrier area. Developer Dragas Associates plans for the condominiums at 1504 Elbow Road to be directly adjacent to and an extension of Grayson Commons, a mixed-use community of 268 homes located at Centerville Turnpike and Elbow Road. The site will include a network of sidewalks & trails, including a 10-foot multiuse path extension along Elbow Road. Both the planning commission and city staff recommended approval of the project. (Virginia Business)

The U.S. Department of Justice has withdrawn from intervening in a whistleblower complaint against Health, which alleges the health system’s insurance arm improperly inflated rates in 2018 and 2019. The complaint, filed by three Charlottesville residents, alleges Sentara, its Optima Health division and consulting firm Milliman violated the False Claims Act. The plaintiffs intend to proceed with the case. However, with the federal government declining to intervene, attorney John P. Fishwick from Fishwick & Associates says the plaintiffs’ position has been weakened and they face a tougher hill to climb. (Virginia Business)

Virginia Beach city government is seeking proposals from developers for a commercial or residential project near the city’s convention center — with the hope that new development will revitalize that part of the city. The site in question is a 1.73-acre property owned by the city, currently used as a parking lot with 109 spaces. The request for proposals calls for the construction of a public structured parking facility, as well as other complementary uses, which may include commercial, office, residential, restaurant or retail spaces. Developers have until 3 p.m. Oct. 20 to submit proposals. (Virginia Business)

PEOPLE

The Virginia Beach Neptune Festival has named Virginia Beach President Buffy Barefoot as its first Queen Neptune. This marks the first time a queen instead of a king has been chosen to be the ceremonial leader for the festival, which was founded in 1974. The festival was traditionally led by a King Neptune and a court of male Tritons and female princesses but has shifted in recent years to be more inclusive. The festival culminates with Boardwalk Weekend, scheduled for Sept. 26-28. Last year’s weekend events generated $26 million in economic impact. (The Virginian-Pilot)

Chesapeake-based Fortune 500 discount retailer Dollar Tree appointed John S. Mitchell Jr. as its new chief legal officer and corporate secretary. He began his new role on Aug. 11. Mitchell joined Dollar Tree in 2021 as the company’s senior deputy general counsel, after previously working as a partner at the law firm of Williams Mullen. Mitchell succeeds Jonathan B. Leiken, who is leaving Dollar Tree in August after two years. Mitchell earned his law degree from the University of Virginia School of Law and a bachelor’s degree in politics from Princeton University. (Virginia Business)

ROANOKE/LYNCHBURG/NEW RIVER VALLEY

Carilion Clinic on July 22 announced plans to open its first two freestanding emergency departments, which will be located in Botetourt and Franklin counties. The Roanoke-based system plans to break ground on both departments later this year — one in Smith Mountain Lake’s Westlake area in Franklin County and the other in Botetourt’s Daleville Town Center area. The ERs will offer 24/7 emergency care for adults and children. If higher-level care is required, the health system says it can transport patients quickly to the hospital of their choice. (VirginiaBusiness.com)

A judge ruled in favor of nonprofit HopeTree Family Services and Salem City Council Aug. 7 in a citizen lawsuit filed by Carlos Hart Jr., following approval of the nonprofit’s resubmitted rezoning application in December. The council voted to approve HopeTree’s request to rezone its property from residential single family to planned unit development, which would allow HopeTree to build up to 340 residences and some small businesses on the property. Judge David Carson stated in his that Hart’s “remedy in this case, if any, is at the ballot box, not in circuit court.” (The Roanoke Times)

Liberty University filed an opening brief Aug. 1 with the Fourth U.S. Circuit Court of Appeals in the case involving Ellenor Zinski, a transgender woman and former LU employee who is accusing the university of violating federal law in her termination. In it, LU argued that Title VII, the First Amendment and the Religious Freedom Restoration Act protect religious institutions in making employment decisions based on religion. In March, LU appealed Zinski’s lawsuit in response to U.S. District Judge Norman Moon’s denial of the university’s motion to dismiss the lawsuit. The appeals court granted the appeal in May. (The News & Advance)

Developers of the Mountain Valley Pipeline are considering a plan to increase the amount of natural gas the existing pipeline can carry by further compressing its gas, an idea that could include building a compressor station near the border of Montgomery and Roanoke counties. The idea to expand Mountain Valley Pipeline’s gas capacity by about 25% was discussed July 22 in a presentation to shareholders of Pittsburgh-based EQT Corp., which owns the largest stake in the pipeline joint venture. Pending regulatory approval, EQT anticipates the expansion would begin operation in 2029. (Cardinal News)

The Roanoke Economic Development Authority has received a $1 million state award to support the development of the former Walker Foundry site, which sits near the Roanoke River Greenway in the city’s Norwich neighborhood. Developer Greg Kaknes and The Foundry Realty are working to rehabilitate the vacant industrial site, which closed in 2019 after employing thousands in the region for almost 100 years. Plans call for the site to include 275 affordable housing units, green space, a restaurant and other commercial spaces. (Cardinal News)

More than five years after it was first announced, Traditional Medicinals broke ground July 29 on a new manufacturing plant in Franklin County’s Summit View Business Park. Plans for a plant at the business park were first announced in January 2020, but the global pandemic later put the project on hold for five years. The privately held, California-based company will invest $47 million on the 125,000-square-foot facility. The project is expected to create 57 jobs. Executives expect the plant to be operational by winter 2026. (The Roanoke Times)

NORTHERN VIRGINIA

Arlington County is facing a lawsuit over its “Expanded Housing Options” plan, which enables more duplexes, townhomes and other “missing middle” homes in formerly single family‑only zones. The case was brought by local homeowners, who argued that the county didn’t adequately study the possible negative effects of additional development. But developers fear that if the courts strike down the county’s zoning plan, already-built missing middle structures will be deemed illegal. Now, the Virginia Court of Appeals is weighing whether developer Wilsons Ventures, which has already built missing middle housing in Arlington, should be allowed to be involved with the lawsuit. (WAMU 88.5)

Arlington County-based CoStar Group and subsidiary CoStar Realty Information in July sued Zillow, claiming that the real estate website is using nearly 47,000 CoStar-copyrighted images illegally. The lawsuit was filed in the U.S. District Court for the Southern District of New York. The company is requesting that the court require the purging and destruction of all CoStar copyrighted photographs from Zillow’s databases and systems by a third-party source that will monitor Zillow’s future compliance. CoStar also requests an award of its costs, including attorneys’ fees, and exemplary and punitive damages. (Virginia Business)

At an Aug.1 meeting, George Mason University‘s board of visitors approved a 1.5% salary raise for GMU President Gregory Washington in a unanimous vote with no public discussion. There had previously been concerns from supporters that Washington might be ousted amid four federal investigations that opened since July. Washington has faced criticism and political pressure from the Trump administration over diversity, equity and inclusion initiatives introduced during his tenure, which began in 2020. However, faculty members have strongly supported Washington and defended his leadership, stating that he has been politically targeted. (Virginia Business)

McLean-based candymaker and pet care giant Mars in July announced that it plans to infuse $2 billion into its U.S. manufacturing operations by the end of 2026. The maker of Snickers, M&M’s and Twix says the investment will support a $240 million new facility for Nature’s Bakery in Salt Lake City. Earlier in the month, the company also announced the launch of a $250 million investment fund dedicated to fostering business innovation and growth. The innovation fund aims to provide capital to companies developing solutions to address sustainability challenges in the food industry. (Virginia Business)

Luxembourg-based SES announced in July that it has completed its $3.1 billion acquisition of McLean-based satellite services provider Intelsat. The combined SES is headquartered in Luxembourg, although the company will still have a “significant presence” in the U.S, with its North American main office located in McLean. SES says the acquisition creates a “strengthened global satellite operator” with an expanded fleet of 120 satellites across two orbits. The combined company is expected to generate about $4.29 billion in annual revenue. (Virginia Business)

The Trump administration announced on July 31 that it would add a $200 million, 90,000-square-foot ballroom to the people’s mansion — with McLean’s leading the building team. That’s nearly twice the size of the existing White House, which has six stories and about 55,000 square feet of floor space. Washington, D.C.-based McCrery Architects will lead the design process, and Dallas-based AECOM will handle engineering for the structure, which would replace the East Wing. The project is expected to be completed before the end of President Donald Trump’s second term. (Virginia Business)

SHENANDOAH VALLEY

Bridgewater College announced in July that it successfully concluded its five-year Connections fundraising campaign, raising $36.7 million from more than 1,100 donors and exceeding its $35 million goal. Connections: The Campaign for Bridgewater College, which ended June 30, raised around $15.1 million for teaching and learning initiatives. As part of this component of the campaign, the college named three of its schools for donors. The college also raised $13.1 million for capital projects and more than $8.1 million for the Eagle Fund, a scholarship fund that provides direct and immediate scholarship support to students. (Virginia Business)

Executive Land Holdings IV hopes to build a business park off Interstate 81 Exit 302 near Middletown. First, however, Frederick County must amend its comprehensive plan and rezone a 43-acre site from rural and general business to industrial transition. The Frederick County Historic Resources Advisory Board in July unanimously recommended a Phase 1 archaeological survey for the proposed Middletown Business Park, as much of the site is core battlefield from the 1864 Battle of Cedar Creek. After the survey is conducted, there could be further surveys before the matter comes before the board of supervisors for approval. (The Northern Virginia Daily)

The Family Drive-In Theatre in Stephens City, in operation since 1956 and one of Virginia’s last six operating drive-ins, is up for sale. Owner Dalke’s Theatres listed the 10.16-acre site in June for $1.5 million. The property is zoned for general business,  allowing for commercial uses such as offices, food and beverage retailers, gas stations or hotels. A broker listing the property stated that Dalke isn’t expressly looking to sell the site to someone who wants to keep the drive-in theater in operation and wants to sell the property “regardless.” However, some buyers have expressed interest in continuing its operation. (The Winchester Star)

The former IAC automotive plant in Strasburg, which permanently closed on Dec. 31, 2024, was sold to a trio of companies — Shockey Realty Co., Green Industrial Realty II and WSK Next GenPartners — on June 26. The sale included nine parcels and four buildings that collectively provide 430,000 square feet of industrial space. Shockey is leading marketing efforts to lease the property and coordinating with Shenandoah County to find a tenant. The county is working with the Town of Strasburg to ensure future use aligns with local goals. Officials hope the site can attract new businesses to the county. (The Northern Virginia Daily)

Shenandoah County wineries in July said they are struggling with rising costs due to tariffs imposed by President Donald Trump on imported goods. Several winemaking supplies, such as barrels, bottles, corks and equipment — come from countries overseas. However, small and family-run Virginia wineries say they lack the economies of scale of larger competitors. On-again-off-again tariffs, sometimes reaching 50%, have created uncertainty and forced businesses to either delay purchases or absorb higher costs. Some wineries reported a drop in profit margins, while others, like Cave Ridge Vineyard & Winery, have held off purchases like bottling machines due to tariff-related hikes. (Daily News-Record)

A recent survey, funded by the Winchester Economic Development Authority, showed a majority of residents in the Winchester and Frederick County region support having a community-owned food co-op stocked with local products. The survey, which gathered responses from 433 households, was conducted earlier this year by Kansas-based ETC Institute. It found that 94% of respondents would shop at such a store, with 85% expressing interest in membership. A volunteer-led committee is working to make a proposed Winchester Co-op Market a reality and hopes the co-op will complement local markets. (The Winchester Star)

SOUTHERN VIRGINIA

Dewberry, a Fairfax-based engineering firm that has had an office in Danville for nearly 50 years, is moving from Piney Forest Road to Dan River Falls. Dewberry will lease the 13,186-square-foot space for 10 years from the Danville Industrial  Development Authority, which is the landlord of Dan River Falls’ commercial portion under an ownership agreement with the site’s developer, The Alexander Co. in Madison, Wisconsin. On July 29, the IDA voted 6-0 to approve the lease agreement with Dewberry, which plans to move into the space in spring 2026. (Danville Register & Bee)

A state agency fined a utility-scale solar developer nearly $121,000 after inspectors said they found violations of environmental regulations at a Henry County solar facility. The Virginia Department of Environmental Quality proposed the penalties after inspecting Energix Renewables‘ Sunny Rock Solar site northwest of Ridgeway in February and April. Inspectors said the company failed to control soil erosion and stormwater runoff and failed to keep sediment out of nearby streams and wetlands. This marks the fourth year in a row that Energix Renewables has faced DEQ penalties for solar projects in Virginia. (Cardinal News)

Danville will be home to the first U.S. location for WB Alloys, a U.K.-based wire alloy manufacturing company, ‘s office announced July 18. The project represents a $6.6 million investment and is expected to create 30 jobs. The facility will specialize in wire alloy production for the U.S. Navy and Department of Defense, which already have a presence in the city through the Accelerated Training in Defense Manufacturing program. Danville and Pittsylvania County jointly own the Cyber Park where the WB Alloys facility will be located (Cardinal News)

Gov. Glenn announced $1.5 million in Virginia Business Ready Sites Program (VBRSP) development grants to the Southern Virginia Megasite at Berry Hill, according to an Aug. 1 announcement. The money will go to the Danville-Pittsylvania Regional Industrial Facility Authority, the joint city-county entity that owns the 3,500-acre industrial megasite. With the funding, officials plan to get the permits and paperwork squared away for the entire industrial park, cutting development timeline for companies. Additionally, Henry County received a $750,000 award from the VBRSP fund to use at Commonwealth Crossing Business Centre. (News release; Danville Register & Bee)

PEOPLE

Mitzi McCormick, president and CEO of the Halifax County Chamber of Commerce, submitted her letter of resignation Aug. 6, according to a statement from Denise Barksdale,  chair of the chamber’s board of directors. There was no reason given for the resignation, which was effective immediately. An interim leadership plan was being put in place, and the board planned to initiate a formal search for a new leader. A week earlier, the board met in executive session to discuss personnel issues, with no other details provided. (The Gazette-Virginian)

The Halifax County Board of Supervisors fired County Administrator Scott Simpson on a 5-3 vote following a closed session during their Aug. 4 meeting. Supervisor Pete Riddle made the motion, stating that Simpson’s services as county administrator were “no longer needed.” Earlier this year, interim county Finance Director Tomeka Morgan informed Simpson and the board of her decision to resign from the county effective July 31. She’d previously sent Simpson a letter noting “lack of communication and direction.” (The Gazette-Virginian)

SOUTHWEST VIRGINIA

A local hotelier blames rising costs for delaying the construction of a new combination Home2 Suites/Tru by Hilton hotel at The Village, a site overlooking Interstate 81 Exit 7. In July, Bristol City Council agreed to extend the deadline for Prakash Patel and S&D Hotel to complete construction of the planned 160-room project as part of a financial agreement with the city and its industrial development authority. The modified agreement will push the expected opening date for the project from this September to June 30, 2027. (Bristol Herald Courier)

On Aug. 1, Gov. Glenn Youngkin announced Smyth County will receive $1.5 million from the Virginia Business Ready Sites Program to support development at the Atkins site of the former General Shale brick plant, which closed in 2016. The 303-acre property includes an 88,000-square-foot building located less than a mile from an Interstate 81 exit. The money will be used to ensure the site is ready for project construction. Altogether, Youngkin awarded 13 grants across the state totaling $40 million. (News release)

A trio of restaurants closed in July in downtown Bristol, prompting questions about the local economy. Union 41 on Piedmont Avenue, which was known for menus curated by chef and TV personality Torrece “Chef T” Gregoire, shuttered, along with The French Magnolia, a Southern-inspired eatery, and Mother Chuckers, an axe-throwing bar and grill. But business leaders and city officials say the picture is more complex than it may appear. Investment remains strong and new businesses are on the way, they say, and long-time staples continue to thrive. (Bristol Herald Courier)

In July, the Virginia Coalfield Economic Development Authority announced the approval of a $500,000 loan to support the continued expansion of Simmons Equipment Co., a specialty mining equipment manufacturer. The money will be used to finance building upfits and improvements for a 52,000-square-foot metal industrial building at the Russell Place property in Lebanon. In 2024, Simmons announced expansions of two Lebanon buildings — Russell Place and the former Polycap building. The company has said it would add about 90 jobs total from the expansions. (News release)

The owner of the former Virginia Intermont College property in Bristol plans to move forward with establishing a business college there and would legally challenge any attempt by the city to take control of the site through a new law, a lawyer for the company said in July. John Kieffer, an attorney in Bristol, has represented U.S. Magis International, which is based in China, since it bought the property at auction in 2016. Bristol City Manager Randy Eads said the city will go to court if necessary and let it decide whether the new law is unconstitutional. (Cardinal News)

PEOPLE

Prominent philanthropist Jim McGlothlin, a former coal magnate and a backer of Virginia’s first casino, died Aug. 6 at age 85. A part-time resident of Bristol, Virginia, and a native of Buchanan County, McGlothlin was a William & Mary-educated attorney who purchased a Buchanan coal company at auction in 1970 with six partners. That developed into United Coal Co., which became a billion-dollar business by the time it was sold in 2009 to a Ukrainian billionaire. McGlothlin and business partner Clyde Stacy were instrumental in coaxing Virginia lawmakers to legalize casinos. (VirginiaBusiness.com)

Crossed wires over regional power expansion

As and usage become ever more intensely debated topics in Northern Virginia, it’s no surprise that a new transmission line could ruffle feathers.

has proposed a 500-kilovolt transmission line to run from its Morrisville substation in through parts of Prince William and Loudoun counties to the planned Wishing Star substation. Estimated to cost $852.9 million, the project also would bring in a new 230-kilovolt line in Fauquier, and the Morrisville substation would be expanded.

supervisors said in July that they were in support of the 500-kilovolt line as long as it stayed on the current proposed route, as opposed to an alternative route that the utility was considering. Now the two lines must be approved by the Virginia State Corporation Commission, which will hear public testimony at two hearings Sept. 18 and Sept. 25 at Rock Ridge High School in Ashburn.

The project is one of several proposals by Dominion Energy to add more high-voltage cables that deliver electricity from generation sources to end users — often data centers, which are increasingly opposed by residents in Northern Virginia and elsewhere.

That is the case for the Morrisville to Wishing Star line, which would place monopoles across farmland, to bring more power to Prince William and Loudoun data centers. Piedmont Environmental Council and other regional organizations came out in May to a meeting in Bealeton to oppose the plan.

“Residents and other businesses should never be saddled with the business expenses of the richest companies in the world,” says Chris Miller, president of the Piedmont Environmental Council.

Still, data centers bring in significant tax revenue and are deemed necessary to handle additional internet traffic spurred by artificial intelligence’s boom, proponents say.

Data center development in Virginia is estimated to bring in about $9.1 billion in economic activity and 74,000 jobs annually, while also padding local coffers to the tune of an estimated $895 million in real and personal property tax revenue for last fiscal year, which has a projected budget of $940 million.

The state’s Joint Legislative Audit and Review Commission report released late last year found that if data center development didn’t have constraints, the industry could triple energy demand in Virginia over the next 15 years.

 

Top Five: September 2025

The most-read daily news stories on VirginiaBusiness.com from July 10 through Aug. 10 included news of a Virginia company tapped by President Trump to build a $200 million addition for the White House.

1 | Judge blocks Youngkin university board appointees
In a win for Virginia Senate Democrats, a Fairfax County Circuit Court judge ruled in favor of their motion to stop three Virginia universities from recognizing gubernatorial board appointees rejected by a state Senate committee. (July 29)

2 | Virginia firm to build $200 million White House ballroom
Co-funded by Trump plans to add a $200 million ballroom to the people’s mansion — with McLean’s Clark Construction leading the building team. (July 31)

3 | Southwest Virginia businessman and philanthropist McGlothlin dies
Prominent philanthropist Jim McGlothlin, a former coal magnate and backer of Virginia’s first casino, died Aug. 6 at age 85. (Aug. 6)

4 | DOJ withdraws from Sentara investigation
The federal government is withdrawing from intervening in a whistleblower complaint against Health alleging the Roads system’s insurance arm improperly inflated rates in 2018 and 2019. (July 14)

5 | Formerly ousted U.Va. president has questions about Ryan’s departure
Teresa Sullivan — who in 2012 was forced out as president by board members, then reinstated — noted that the board that hired her was far less partisan than today’s state university boards of visitors. (July 11)

The Mailroom: America needs immigrants

I appreciate your column in the July issue of Virginia Business on the value of immigrants (“Your friends and neighbors”).  I’ve been sounding the benefits of immigrants for years since working in the nonprofit sector helping immigrants and refugees in the 1990s.

In addition to the factors and data you cite, I find it also useful to point out that at current birth rates of American-born citizens (1.6 children per couple), we as a nation will shrink without accepting hundreds of thousands of immigrants, with the obvious impact on businesses, the GDP and the economy more generally.

David King
President
David P. King Fundraising Counsel
Richmond

To submit a letter to the editor, please send your email of no more than 250 words to Associate Publisher & Editor Richard Foster at [email protected]. Letters chosen for publication will be edited for AP Style, clarity, brevity and grammar.

Health Care 2025: DACEY, DR. MICHAEL J.

Dacey became Riverside Health’s CEO in 2023, in addition to serving as president. Riverside has more than 9,500 employees and operates seven — including Riverside Mental Health & Recovery Center, Virginia’s first stand-alone psychiatric emergency department — in , Williamsburg, , Yorktown, Gloucester and Onancock, as well as over 110 offices in the region.

The health system is building an eighth hospital; the approximately 200,000-square-foot Riverside Smithfield Hospital is expected to open in early 2026. Riverside also has plans for a 27,000-square-foot medical office building beside the hospital.

Before joining Riverside in 2018 as chief clinical operations officer, Dacey worked as chief medical officer for Care New England in Rhode Island. A graduate of Providence College and George Washington University School of & Health Sciences, Dacey also earned a master’s degree in management from the Harvard School of .

Return to the full list of this category’s recipients.