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GDIT wins $5.57B contract to upgrade military communications system

Falls Church-based General Dynamics Information Technology, a business unit of Reston Fortune 100 defense contractor General Dynamics, has won a $5.57 billion contract from the Air Force Mission Partner Capabilities Office, it announced Friday. Awarded in November, the single-award, indefinite-delivery, indefinite-quantity contract has a five-year base period and a five-year option, according to GDIT’s announcement. […]

Smithfield to form new hog production company ahead of IPO

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Party City closing 800 stores, including 18 in Va.

Party City let the air out of the room Friday, as its CEO told corporate employees that they would soon be closing down all of the retailer’s 800-some party supply stores across the country, and that Friday would be corporate staffers’ final day of employment, according to a CNN report. That means 18 Party City […]

Industries

Developer plans $3B data center in Appomattox County

A Connecticut developer plans to build a $3 billion data center on a 452-acre site in Appomattox County. AVAIO Digital Partners announced Tuesday it had signed an agreement with the Appomattox County Economic Development Authority to purchase the industrial site. “This project in Appomattox County exemplifies our strategy of expanding Virginia’s thriving data center industry […]

Real Estate

Statewide home sales, inventories rose in November

The fall 2024 housing market has outpaced the fall 2023 market across the commonwealth, according to statewide November sales data released Dec. 20 by Virginia Realtors. “For two months in a row now, Virginia has seen double-digit growth in closed sales,” Ryan Price, the trade organization’s chief economist, stated in a news release. In November, […]

Healthcare

McDermott to depart as Mary Washington Healthcare CEO

Dr. Michael McDermott, president and CEO of Fredericksburg-based Mary Washington Healthcare since 2015, will leave to become head of Montage Health in California, the health system announced Monday. Dr. Christopher Newman, MWHC’s chief operating officer and chief medical officer, will succeed McDermott starting in spring 2025. Newman joined Mary Washington in 2019. He previously served […]

Government

Youngkin proposes eliminating tax on tips in Va. budget

Gov. Glenn Youngkin announced Monday a budget proposal to exempt service tips from Virginia’s state income tax, an idea that’s gained bipartisan support federally. In a statement, Youngkin said that Virginians who receive tips — hair stylists, restaurant workers, bellhops and other service industry professionals — would benefit from being able to claim deductions on […]

Money

Capital One, Discover clear hurdles for $35.3B megadeal

Announced in February, McLean-based Capital One Financial’s proposed $35.3 billion acquisition of Discover Financial Services is moving forward, with stockholders’ votes scheduled early next year, the credit card giants announced this week. Capital One also announced Thursday it received approval from the Office of the Delaware State Bank Commissioner on Wednesday to complete the purchase […]

Energy/Green

BTM Business Connect

Rapidly Growing Metro Washington D.C. Leader Knowmadics Upgrades

Herndon’s Knowmadics has selected Unanet, a Dulles-based software leader, as the company continues its growth in 2025. Knowmadics, a security contractor for the Department of Defense (DOD), public safety and commercial clients, opened its fifth office across the country earlier this month. This recent growth spurred the company to recognize that its off-the-shelf financial software […]

Movers & Shakers

EVENTS

C-Suite Awards

June 5th, 2025 - 12:00 AM

The C-Suite Awards celebrate top corporate executives who consistently demonstrate remarkable leadership skills, integrity, values, vision, [...]

Forty Under 40

Details coming soon!

Virginia Business is pleased to launch its inaugural Forty Under 40 Awards program in 2025!

Best Places to Work in Virginia

March 31st, 2025 - 4:30 PM

Best Places to Work in Virginia is a research-driven program from Best Companies Group that examines your company’s practices, programs an[...]

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People

Inova makes acting CFO permanent

Stephen Edwards tapped for national port association board

Luck Cos. names president

ODEC announces next president and CEO

Omni Homestead GM receives lifetime achievement award

Bassett Furniture names new chief marketing officer

J-Lab scientist to receive nuclear physics prize

Bon Secours Hampton Roads Foundation promotes new president

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Martinsville real estate, building supply firm names new president

The Lester Group has appointed Dana Cowart president, the Martinsville-based building materials and real estate development company announced Monday. Cowart started his new job Dec. 1. Cowart brings to The Lester Group more than two decades of experience in the building supply sector. Previously, Cowart was vice president of acquisitions, vice president of sales and […]

Dollar Tree CFO stepping down

Dollar Tree Chief Financial Officer Jeff Davis is leaving the Chesapeake discount retailer after two years, the company announced Wednesday. Davis will stay through the filing of the company’s fiscal 2024 report to the Securities and Exchange Commission, Dollar Tree said. “We thank Jeff for his service and appreciate the contributions he made to the […]

U.Va. Darden School dean reappointed to third term

Scott C. Beardsley, dean of the University of Virginia’s Darden School of Business, has been reappointed to his third term as dean, which starts Aug. 1, 2025, and extends through August 2029, U.Va. announced Wednesday. Named dean in 2015, Beardsley is now the university’s longest serving current dean and has raised more than $610 million […]

A woman wears a black tunic.

Ballston BID names new CEO

The Ballston Business Improvement District (BID) has named Danette Nguyen its next CEO, the Arlington County organization announced Monday. A Ballston resident, Nguyen previously was the managing director of the Maryland Women’s Business Center (MWBC), a program which encourages women to start, sustain and grow their businesses. Additionally, Nguyen spent five years working at the […]

100 People to Meet in 2025

In our sixth annual list of 100 Virginians you’ll want to meet in the new year, you’ll encounter interesting people of many ages and occupations — from a doctor in his 80s who built the Chesapeake Care Clinic to a 10-year-old CEO who started his own popcorn business and whose parents are his employees.  In […]

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Opinion

Virginia’s fundamentals remain strong after unsuccessful arena competition

To support a more inclusive workforce, Va. lawmakers must unite around this bill

2024 Big Book intro: Invasion of the bots!

Why Alexandria’s new entertainment district is everyone’s business

Saving grace

Pot of gold

A game of political football

Long-range forecast

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, awaiting […]

What a difference a debate makes

Less than three months ago, President Joe Biden — you remember him, right? — stepped down from his bid for a second term and threw his support behind Democratic nominee Vice President Kamala Harris, radically redefining this fall’s presidential race. Just before that happened, we were beginning to write this month’s cover story about the […]

In defense of UVA Health’s leaders

Like so many people, I was surprised and shocked to read the U.Va. faculty letter of no confidence in Dr. Craig Kent and Dr. Melina Kibbe. This is especially disturbing since I have served on various UVA Health boards over the past 30 years. It is my opinion that our health system is better today […]

A BridgeTower to the future

On July 31, Virginia Business turned the page on a new chapter in our 38-year history as the magazine became part of the BridgeTower Media family of companies. Headquartered in neighboring North Carolina, our new parent company is a portfolio company of Los Angeles private equity firm Transom Capital Group. BridgeTower owns 40-plus B2B media […]

Commentary: Va. ecosystem supports growth

It has been almost four years since I began leading economic development and innovation efforts at George Mason University, and what a whirlwind! This is an exciting time to be in Virginia, and getting to do this job every day feels like winning the lottery. It all started with the Amazon.com HQ2 win in 2018, […]

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