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Hitachi Energy to invest $22.5M in SWVA expansion, creating 120 jobs

SUMMARY:

  • to invest $22.5 million in facilities
  • 120 jobs to be created in Bland and Smyth counties
  • $12.5 million allocated to upgrade Bland transformer plant
  • Hitachi Energy purchased 75,000-square-foot facility in

Hitachi Energy, a provider of infrastructure, plans to invest $22.5 million to upgrade its current facility in and to add a warehouse in Atkins, announced Friday.

The project is expected to create 120 jobs.

“The new facility in Atkins, alongside the upgrades at our existing site in Bland, represents a major milestone in our commitment to building resilient in the U.S.,” Steve McKinney, senior vice president and head of transformers for North America, Hitachi Energy, stated in a news release. “Virginia has been an essential part of our manufacturing story for over 50 years, and this expansion reflects our confidence in the region’s skilled workforce and strong support for innovation.”

The investments will allow Hitachi Energy to boost production capacity and support modernization efforts, according to the company.

The Hitachi Energy facility in Bland is, according to the news release, the United States’ leading source of dry-type transformers, which are used to adjust and stabilize the voltage of electricity flowing through power grids. Opened in Bland in 1972, the facility employs about 450 .

About $12.5 million will be invested in the Bland plant, a project expected to create 80 jobs, according to Hitachi Energy. Upgrades made at the facility will increase capacity for production and advanced assembly capabilities.

In 2021, Hitachi Energy completed a $6.2 million expansion at the Bland County facility that provided additional production capacity and created 40 jobs.

The newly purchased 75,000-square-foot facility in Smyth County will handle core cutting and warehousing work. Approximately $10 million of Hitachi Energy’s investment will go to support it, according to a Hitachi Energy news release.

Located about 40 miles from Bland, the site will strengthen manufacturing capabilities and improve regional distribution. It’s expected to be operational by August.

“Hitachi Energy’s investment in the new Atkins facility and the transformative modernization of the Bland plant is a powerful endorsement of Virginia’s manufacturing capabilities,” Youngkin said in a news release. “This world-class company’s investment in Southwest Virginia is not only expanding domestic , but also creating high-quality, skilled jobs and driving innovation in energy infrastructure.”

Mount Rogers Regional Partnership and officials from Bland and Smyth counties worked with Hitachi Energy to secure the project.

Headquartered in Switzerland, Hitachi Energy serves customers in the utility, industry, transportation, data centers and infrastructure sectors. In 2024, the company announced plans to invest more than $6 billion globally through 2027 to strengthen the resilience and capacity of the world’s electrical grids. The company employs around 45,000 people in 60 countries and generates business volumes of around $13 billion.

USCIS releases updated Form I-9 with key compliance changes


SUMMARY

U.S. Citizenship and Immigration Services released a revised Form I-9 on April 2, 2025, reflecting minor yet significant updates that employers should promptly integrate into their hiring processes.

Here are some key changes to note:

  • Terminology adjustment: The fourth checkbox in Section 1 now reads “An alien authorized to work,” reinstating terminology used prior to the 2023 edition, which had adopted “A noncitizen authorized to work.”
  • Document description revisions: Updates have been made to the descriptions of two List B documents in the Lists of Acceptable Documents, clarifying acceptable forms of identification.
  • Instructional updates: The form’s instructions now include updated statutory language and a revised Department of Homeland Security (DHS) Privacy Notice.

E-Verify system alignment

As of April 3, 2025, the E-Verify and E-Verify+ systems have been updated to reflect the terminology change.

If an employee selects “A noncitizen authorized to work” on an older version of Form I-9, the employer must select “An alien authorized to work” in E-Verify to ensure consistency.

E-Verify cases will display “An alien authorized to work,” regardless of the form version used during the employee’s attestation.

Compliance deadlines

The new Form I-9 bears an edition date of January 20, 2025, and an expiration date of May 31, 2027.

Employers may continue using the August 1, 2023, editions of Form I-9 until their respective expiration dates (either May 31, 2027, or July 31, 2026).

However, electronic systems must be updated to reflect the correct expiration date by July 31, 2026.

Recommendations for employers

In response to the changes, employers should assess and update internal processes to incorporate the revised Form I-9 and ensure alignment with E-Verify system changes.

They should also educate HR personnel and hiring managers on the updated terminology and procedural requirements to prevent compliance issues.

All electronic I-9 systems should be updated to accommodate the new form and expiration dates within the specified deadlines.

Staying abreast of these updates is crucial for maintaining compliance with federal requirements and avoiding potential penalties.

Medicaid cuts could close Virginia’s rural hospitals, Warner warns

U.S. , Virginia’s senior Democratic senator, has a stark warning about the fallout from possible government cuts.

“Depending on how deep the Medicaid cuts go, we could see virtually every hospital west of Roanoke close down,” Warner said Tuesday during a call with reporters.

House Republican leaders hope to cut $1.5 trillion in spending to offset the cost of President Donald ‘s tax cuts. In March, the nonpartisan Congressional Budget Office released an analysis that indicated those budget goals can’t be met without cutting spending on Medicaid, a joint federal and state program that helps cover medical costs for low-income Americans.

In Virginia, more than 1.9 million rely on Medicaid for health care, according to Virginia’s Department of Medical Assistance Services. In 2019, Virginia expanded Medicaid, which meant adults with incomes up to 138% of the federal poverty level were eligible. About 630,000 of the Virginians on Medicaid are those are covered by Medicaid expansion.

For standard Medicaid, the federal government covers a little more than 50% of the cost. For expanded Medicaid, on the other hand, the federal government covers 90% of the cost. Currently, Virginia’s private acute-care hospitals foot the remaining 10% of the cost of expansion.

“In 2025, hospitals will pay $572 million to the state to cover that 10% state share for Medicaid expansion costs,” said Julian Walker, spokesperson for the Virginia Hospital & Association (VHAA).

When the passed the Medicaid expansion in 2018, it contained trigger language that would end Medicaid expansion in the commonwealth if the federal government elects not to fund 90% of the cost.

“Virginia essentially would withdraw from the program or stop participating in the program,” Walker said.

, which is based in Roanoke, declined to comment on this story. A spokesperson for Tennessee-based Ballad Health, which serves , did not respond to a request for comment.

However, Walker pointed to a piece of data in a 2024 report by the VHHA: In 2022, 36% of all hospitals in Virginia operated in the red, according to a 2024 report by the VHHA.

Nearly three-fourths of patients at those hospitals are on Medicare or Medicaid, according to the report.

If the federal government cuts Medicaid, there is still a federal law that mandates that patients receive emergency services regardless of  ability to pay.

“Medicaid reimbursements are inadequate, but that reimbursement is still some compensation for care,” Walker said.

Medicaid cuts, Walker added, would “pose the risk of significant harm to patients, to the , to health care access and to health care providers.”

StoneSprings Hospital Center announces new chief nursing officer

HCA Virginia’s Center in announced that Becki Lawhorne became its new chief officer on Monday.

Lawhorne was most recently assistant chief nursing officer for the past two years at Reston Hospital Center, where she played a significant role in developing the neonatal transport team, launching the manager mentorship program and supporting multiple unit expansions.

Before working at Reston Hospital Center, she was director of women’s and children’s services at StoneSprings.

“We are excited to welcome Becki to our leadership team as our chief nursing officer,” StoneSprings CEO Tammy Razmic said in a statement. “Becki shares our commitment to excellence in patient care, innovation, and fostering a collaborative environment for our colleagues.”

Lawhorne received a bachelor’s degree in nursing from James Madison University and a master’s degree in nursing from Walden University.

StonesSprings Hospital Center is a 234,000-square-foot, 124-bed facility providing emergency, medical, mental health, surgical and women’s services to Loudoun and surrounding counties. It is part of the Health System, which operates 14 hospitals, 27 outpatient centers, five freestanding emergency rooms and is affiliated with 3,000 physicians.

Cvent acquires California tech company Prismm

Tysons-based global event and company announced Thursday it has acquired Mill Valley, California-based event design provider Prismm.

The cost of the was not disclosed, and a Cvent spokesperson declined to comment on the terms of the deal.

Cvent says that Prismm has a clientele of more than 5,500 organizations that rely on the company’s services to connect and collaborate within virtual environments and create event spaces and experiences. According to the spokesperson, Prismm has around 80 employees worldwide.

Prismm specializes in interactive event-design technology, meant to streamline the planning process and ensure more precision. Prismm’s services also can assist with sales in marketing, providing 3D virtual tours that allow prospects to explore every aspect of a property and meeting space from anywhere.

“In today’s digital-first landscape, online collaboration is mission critical to get business done, and in an uncertain environment, you need more ways to engage and interact with customers and prospects to ensure you’re on the same page,” said Jim Abramson, Cvent vice president of product management, in a statement.

Abramson says the company understands “what time-strapped event professionals and resource-constrained hoteliers need to deliver bigger and better ” and that collaborative and easy-to-use virtual event design technology has become an expectation among many event organizers. He said the acquisition of Prismm shows the company is investing to meet this demand and helping hotels and venues simplify their event planning processes.

Prismm CEO Yaron Lipshitz said in a statement that combining the company’s 3D design capabilities with Cvent’s extensive network and industry expertise “will empower event professionals and hoteliers to create unforgettable experiences and drive significant business growth.”

Headquartered in and founded in 1999, Cvent has more than 5,000 employees and 24,000 customers worldwide.

$264.5M New River rail project gets underway

Virginia , U.S. and other dignitaries broke ground Thursday on the long-awaited Project in Christiansburg, which will return passenger service to the New River Valley for the first time since 1979.

The $264.5 million project involves railroad infrastructure upgrades that will allow the Virginia Authority to extend its Amtrak Virginia service from Roanoke to Christiansburg. It includes a new station platform with canopy, a parking lot and access roads, track improvements, an updated signaling system and an Amtrak layover facility in nearby . Preliminary construction on the project began in late February and full construction will commence this spring.

The new station stop is being developed at the historic Christiansburg station building in Cambria, which previously served the community from 1906 to 1979.

“Today’s represents a lot of hard work, determination and collaboration,” Youngkin said in a statement. “We are here today because came to the table and worked together to execute a new and dramatically better deal — one that accelerates the return of passenger rail service to the New River Valley years earlier, on a better line, and at a much lower cost to Virginia’s taxpayers — than the one I inherited.”

The extension of service to Christiansburg will be through Norfolk Southern’s main line, the result of a 2024 agreement between VPRA and Norfolk Southern. As part of that agreement, VPRA purchased the Manassas line and gained access to Norfolk Southern’s main line.

According to the governor’s office, the New River Valley Passenger Rail Station Authority — created by the Virginia in 2021 — has the lead in renovating the historic station in Cambria, which will be called the New River Valley Station.

The governor’s office says Amtrak Virginia service is expected to begin in 2027 with two daily round trips between Christiansburg and Washington, D.C., with stops in Roanoke, Lynchburg, Charlottesville, Culpeper, Manassas, Burke Centre and Alexandria.

“Expanding rail service and connecting people across the commonwealth is great for local economies, cuts traffic and improves air quality,” said Kaine, who helped secure federal funds for the platform that landed on the location for the extension to Christiansburg, in a statement.

Ray Smoot, co-chair of the New River Valley Passenger Rail Initiative — an advocacy organization backed by local governments and higher education — said he had advocated for the project since 2013 and was “delighted” to see it finally get off the ground. Seeing it become a reality, he said, “restores confidence in being able to work on something with the government. We feel like a lot of long, hard work and capacity has paid off.”

Retailers misjudge shopper priorities, loyalties amid rising costs, said Rakuten report

Rakuten, a cash back platform, has released a new in conjunction with the Harris Poll, revealing a disconnect between shopper brand loyalty and retailer confidence as economic uncertainty continues and budgets get tighter. More than half – 55% – of consumers say they plan to prioritize products with the lowest when shopping in the coming months, while only 5% of think will choose to trade down to lower quality products and less expensive brands than the ones they are accustomed to.

Per Rakuten, retailers understand that shoppers will prioritize price, but they believe that brand loyalty will remain intact, with 33% believing that shoppers will look for ways to save and stack incentives to continue purchasing their preferred brands. An additional 32% believe that shoppers will shift their purchasing to discount retailers that feature their favorite brands.

“Consumers are looking for value, but the cost of doing business is increasing for retailers,” says Julie Van Ullen, chief revenue officer at Rakuten Rewards. “Retailers are in a very difficult position. They cannot assume that shopper loyalty will remain intact if they choose to pass the added costs onto the consumer by raising prices, but they also cannot afford to offer discounts. Instead, retailers will need to leverage other incentives like cash back that allow retailers to attract value-seeking shoppers without adjusting prices at all.”

Rakuten’s study reveals that consumers are struggling with their everyday purchases, impacting the opportunity for retailers to engage shoppers and drive revenue. Key findings include the following:

  • Nineteen percent of consumers said they cannot afford to pay their household bills, and 17% cannot afford necessities like food and gas.
  • Only 36% of consumers said they can afford all their daily expenses in addition to non-essential items.
  • Over a quarter – 28% – cannot afford personal purchases like new clothing, makeup, electronics and more.
  • Roughly two-fifths, or 41%, plan to shop less than in previous years.

Retailers understand that consumers are financially stressed, with 74% saying shoppers are more concerned with the affordability of everyday purchases than last year. Regardless, 73% of retailers remain optimistic that they will meet their company’s sales objectives for the first half of 2025. This optimism is backed by an increase in spend, with two-thirds, 67%, saying their budgets increased over last year.

Ongoing volatility is crashing consumer sentiment

remains top of mind for consumers, with 39% of consumers citing inflation as having the most impact on their 2025 shopping plans. Shoppers remain pessimistic about inflation, as 77% believe prices will continue to increase throughout the year.

Grocery prices have a large impact on how shoppers spend, even beyond the grocery store, with 57% saying that rising grocery prices have caused them to cut back on non-essential shopping. Shoppers are split on how to address rising grocery prices. A little less than half, 41%, are more at the grocery store to purchase from the same brands they are accustomed to, while 39% are shifting to cheaper alternatives. Thirteen percent said they are completely abstaining from buying products affected by price hikes, like eggs.

“For retailers to meet their sales objectives, they will need to earn a significant share of an increasingly limited consumer spend,” added Van Ullen. “As shopper wallets tighten and marketer budgets increase, it’s time for retailers to get aggressive with their promotional strategies.”

Retailers are dipping into performance marketing

Per Rakuten, while retailers are sensitive to shopper sentiment and the impact of inflation on household budgets, they believe that “shopper loyalty will remain.” This is reflected in how retailers are choosing to spend their increased marketing budgets for 2025.

A majority, 83%, say they are prioritizing social media spend, followed by search, 65%, and display, 50%. Only 36% of retailers are prioritizing performance marketing channels like affiliates to drive sales.

While performance marketing isn’t their top priority, this tactic is receiving more attention from retailers this year, with 30% of marketers planning to reallocate some of their upper-funnel budget towards lower-funnel performance drivers. Nearly half – 48% – say they will be increasing their spend by offering incentives like loyalty-based rewards and cash back.

“This year, retailers will need to prioritize marketing strategies like cash back that are proven to drive sales,” says Van Ullen. “These strategies are effective for incentivizing shoppers and providing them with permission to buy, without the need for retailers to discount and eat into their margins. Reallocating marketing budgets away from general brand awareness and focusing on conversion and getting to hit the buy button is a step in the right direction, but more retailers will need to make affiliate marketing a priority if they want to meet their sales objectives.”

Virginia’s future retail marijuana market likely depends on gubernatorial election

SUMMARY:

  • Gov. Youngkin vetoes legislation for second time
  • Retail cannabis policy hinges on outcome of upcoming governor’s race
  • Proposed tax structure could generate $74M in five years
  • Public support for retail marijuana in Virginia reaches 57%

 

RICHMOND, Va. — vetoed legislation to legalize retail marijuana for the second year in a row, reaffirming his opposition as the state heads into a pivotal election season.

 “Anybody who thinks I’m gonna sign that legislation must be smoking something,” Youngkin said in 2024.

lawmakers in both chambers have attempted unsuccessfully to create the retail market since 2021. Different measures have been delayed, blocked or vetoed.

As Youngkin nears the end of his term, Virginia voters will have the opportunity to decide the direction of marijuana policy in the state. The outcome of this year’s gubernatorial race, between Republican Lt. Gov. Winsome Earle-Sears and Democratic former Rep. , could determine if marijuana retail sales are implemented.

JM Pedini, executive director of the Virginia chapter of the National Organization for the Reform of Marijuana Laws, or , worked with lawmakers to help move the bills through the General Assembly.

Pedini pointed out the stakes of electing a governor who would sign an adult-use retail measure into law. Essentially, any bill could continue to get vetoed and the next gubernatorial election would be four years away.

“Then the next opportunity to enact such a measure will not be until 2030,” Pedini said.

Earle-Sears echoed Youngkin’s views on recreational marijuana sales when he campaigned in 2021 saying “there’s no hope in that.” She said marijuana is a gateway drug, and also that she had fired a previous employee for their use of it.

Spanberger, meanwhile, has voiced support for a regulated retail market.

“We also need to make sure that [tax] revenues flow into Virginia and are used to strengthen our communities and public schools,” Spanberger told RVA Mag. “We need a formalized, legal, emerging cannabis market.”

Neither Earle-Sears nor Spanberger responded to two email requests for an interview about marijuana policy and financial impact.

The proposed bill placed a 1.125% sales tax and a 8% excise tax on any retail marijuana, marijuana-related products and paraphernalia sold. The bill would have also allowed localities the option to add up to a 2.5% excise tax.

The tax structure would have generated around $1.5 million in revenue in fiscal year 2026, but would have grown to $74 million over five years, according to the state fiscal impact statement.  

Del. Paul Krizek, D-Fairfax, who sponsored House Bill 2485 is running for reelection and has said he plans to reintroduce the bill if Democrats regain power in the House. His counterpart in the Senate, Sen. Aaron Rouse, D-Virginia Beach, carried the companion bill. Rouse is 1 of 6 candidates vying for lieutenant governor  in the Democratic primary.

Despite the failure of multiple attempts to pass legislation, public opinion may be shifting. A Wason Center poll found last year that 57% of Virginia likely voters support the retail sale of marijuana.

Political expert Stephen Farnsworth, a professor of political science at the University of Mary Washington and the director of its Center for Leadership and Media Studies, is skeptical that cannabis policy alone will drive voter turnout. However, he predicts Democrats will retain their majority in the House.

“Normally, angry voters decide elections in Virginia,” Farnsworth said. “And the who are usually the angriest the year after a presidential election are the people whose party lost the White House.”

In his recent veto message, Youngkin cited concerns about the illicit market, harm to children and potential increases in crime and psychiatric disorders.

“Attempting to rectify the error of decriminalizing marijuana by establishing a safe and regulated marketplace is an unachievable goal,” Youngkin wrote. “The more prudent approach would be to revisit the issue of discrepancies in enforcement.

Krizek disagreed and said limiting a retail market allows criminals to benefit.

“The Governor doesn’t get it. We’ve worked hard to craft sensible, effective legislation,” Krizek wrote in an email. “They know it’s wrong to allow criminals to reap hundreds of millions of dollars while pushing dangerous unregulated products.”

With all House of Delegate seats on the ballot in addition to the governor’s race, the November election could be pivotal for marijuana policy and more. This year’s contest is also historic because both major-party front runners for governor are female.

Capital News Service is a program of Virginia Commonwealth University’s Robertson School of Media and Culture. 

Average US rate on a 30-year mortgage eases to 6.81%, hovering near highest level in over two months

The average rate on a 30-year mortgage in the U.S. eased this week, though it remains close to its highest level in more than two months.

The rate fell to 6.81% from 6.83% last week, mortgage buyer said Thursday. A year ago, the rate averaged 7.17%.

costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell. The average rate dropped to 5.94% from 6.03% last week. It’s down from 6.44% a year ago, Freddie Mac said.

are influenced by several factors, including global demand for U.S. Treasurys, the Federal Reserve’s interest rate policy decisions and bond market investors’ expectations for future .

After climbing to a just above 7% in mid-January, the average rate on a 30-year mortgage has remained above 6.62%, where it was just two weeks ago. It has risen sharply since then, reflecting volatility in the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

The yield, which had mostly fallen this year after climbing to around 4.8% in mid-January, spiked earlier this month to 4.5% amid a sell-off in government bonds triggered by investor anxiety over the potential fallout from the administration’s ongoing trade war.

The 10-year Treasury yield was at 4.34% in midday trading Thursday, down from 4.40% late Wednesday.

March home sales slowed in a lethargic opening to the spring buying season

Sales of previously occupied U.S. slowed in March, a lackluster start to the spring season as elevated and rising discouraged home .

Existing fell 5.9% last month from February to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors said Thursday. The March sales decline is the largest monthly drop since November 2022, when sales fell 6.7% from the previous month, and marks the slowest sales pace for the month of March going back to 2009.

Sales also fell 2.4% compared with March last year. The latest home sales fell short of the 4.12 million pace economists were expecting, according to FactSet.

The average cost of a U.S. mortgage, which climbed to its highest level in two months last week, is a significant barrier for would-be homebuyers, said Lawrence Yun, NAR’s chief economist.

“Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society,” Yun said.

increased on an annual basis for the 21st consecutive month, although at a slower rate. The national median sales price rose 2.7% in March from a year earlier to $403,700, an all-time high for March, but the smallest annual increase since August.

The U.S. housing market has been in a sales slump since 2022, when mortgage rates began to climb from pandemic-era lows. Sales of previously occupied U.S. homes fell last year to their lowest level in nearly 30 years.

Higher mortgage rates also dampened the start of the spring homebuying season in 2024. This year, after climbing to a just above 7% in mid-January, the average rate on a 30-year mortgage has remained mostly elevated, climbing last week to 6.83%, its highest level in eight weeks, according to mortgage buyer . The average rate eased this week to 6.81%.

Homes purchased last month likely went under contract in February and early March, when the average rate on a 30-year mortgage ranged from 6.89% to 6.63%, according to Freddie Mac.

While sales of existing home fell last month, sales of newly built homes surged in March. They jumped 7.4% from February and 6% from March last year, the Commerce Department reported Wednesday.

To drum up sales, homebuilders have ramped up sales incentives, such as paying to lower the initial rate on a homebuyer’s mortgage. Many builders have also shifted to their focus to smaller, less expensive homes. That helped lower the median sale price on a newly built home last month to $403,600.

In contrast, existing home sales tend to be driven by properties on the upper-end of the market, where more affluent homebuyers can afford to finance a home at current mortgage rates or perhaps pay cash. Consider, sales of homes priced at $1 million or higher jumped 14% last month from a year earlier, while those priced between $100,000 and $250,000 fell 4%, NAR said. The trend helps push up the median sales price for existing homes.

“Usually, the median home price for newly constructed homes would carry about a 15%-20% premium over existing homes,” Yun noted.

Sales fell in March even as more homes hit the market for the spring homebuying season.

There were 1.33 million unsold homes at the end of last month, an 8.1% increase from February, and a 19.8% jump from March last year, NAR said.

That translates to a 4-month supply at the current sales pace, up from a 3.2-month pace at the end of March last year. Traditionally, a 5- to 6-month supply is considered a balanced market between buyers and sellers.

“I felt that more inventory would lead to more sales, but that’s not the case,” Yun said.

One reason the inventory of homes for sale has been rising is that properties are taking longer to sell. Homes typically remained on the market for 36 days last month before selling, up from 33 days in March last year, NAR said.

More homes for sale and lower asking prices in many metro areas from Miami to San Diego, translate to a more buyer-friendly market for home shoppers who can afford to buy.

Sellers gave buyers money toward repairs, closing costs and other concessions in 44.4% of U.S. home sales that occurred in the first quarter, according to data from Redfin. That was up from 39.3% a year earlier.

Many sellers are also lowering asking prices. More than 23% of home listings on Zillow had their price lowered in March, the highest share for any March since at least 2018.

Despite these buyer-friendly trends, the housing market remains largely out of reach for many Americans, especially first-time buyers who don’t have home equity gains to put toward a new home. While home price growth has been slowing, the decline is negligible against the nearly 50% gain in prices over the last five years.

“Uncertainty and anxiety are going to cloud the spring housing market this year,” said Lisa Sturtevant, chief economist at Bright MLS. “Lower mortgage rates and more inventory were expected to bring more home shoppers out this spring, but while some buyers will take advantage of more listings and more room for negotiation, others will hold back, unwilling to make a big decision in these current uneasy times.”