Central Virginia
U.Va. creates new center for real estate
Center to be part of McIntire School of Commerce
Published
The University of Virginia has established a new Center for Real Estate and the Built Environment at the McIntire School of Commerce with a $10 million alumni gift, the university announced Tuesday. The center, which will serve as a hub to bring together U.Va.’s commercial real estate curriculum with university research, is being launched with
VCU receives $104M gift for liver research
Donation from Dr. R. Todd Stravitz, foundation is largest in university's history
Published
Dr. Richard Todd Stravitz and his family’s Barbara Brunckhorst Foundation gave an unprecedented $104 million donation to Virginia Commonwealth University to support liver research, VCU President Michael Rao announced Tuesday during his State of the University address. The largest gift in VCU’s history, it’s also believed to be the largest publicly shared gift to support
SeaWorld makes $3.4B offer for Kings Dominion parent company
Busch Gardens Williamsburg owner would also acquire Hanover theme park
Published
A reported $3.4 billion acquisition bid from Orlando-based SeaWorld Entertainment Inc. could result in Virginia’s two major theme parks being under the same ownership. SeaWorld, parent company of Busch Gardens Williamsburg, has made an unsolicited offer to acquire Ohio-based Cedar Fair Entertainment Co., which owns the Kings Dominion theme park in Hanover County’s Doswell area.
John Tyler Community College renamed Brightpoint
Slaveholding, Confederacy-supporting namesake didn't reflect institutional values, college said
Published
John Tyler Community College will become Brightpoint Community College after receiving unanimous approval from the Virginia Community College System state board in its Thursday meeting. On July 8, John Tyler Community College President Edward “Ted” Raspiller announced that he had recommended Brightpoint Community College as the school’s new name to the state board. The Chester
Eastern Virginia
Old Point National Bank appoints VP operations
Christopher Hobbs comes from U.Va. Community Credit Union
Published
Hampton-based Old Point National Bank has appointed Christopher Hobbs as its vice president of operations, the bank announced Wednesday. “We are so pleased to have Chris Hobbs join the Old Point family,” said Susan R. Ralston, executive vice president and chief operating officer for Old Point, in a statement. “His expertise will be instrumental as
Va. hotel revenues still lagging pre-pandemic levels
June revenues decreased 22% compared with June 2019
Published
Virginia hotel revenues for June 2021 were down 22% compared with pre-pandemic levels in June 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold decreased by 14%. The average daily rate (ADR) paid for hotel rooms
TowneBank acquires Tennessee cabin rental company
Venture Resorts manages 400 vacation rental properties in Smoky Mountains
Published
Suffolk-based TowneBank acquired Tennessee-based vacation property rental company Venture Resorts Inc. on July 1, the bank announced Monday. Financial details of the transaction were not disclosed. “This is an exciting development for Towne Vacations,” Brian Skinner, president and CEO of Towne Financial Services Group, the division that oversees the bank’s vacation property management activities, said
Northam appoints members to newly created cannabis boards
Boards will regulate cannabis market and manage equity fund
Published
Virginia Gov. Ralph Northam has appointed members to three newly created oversight boards for the legalization of recreational marijuana, his office announced today. On July 1, Virginia’s adult-use cannabis legislation changes began going into effect. This year, the General Assembly legalized possession of up to one ounce in public and home cultivation of up to
Northern Virginia
George Mason hires chief diversity officer
Sharnnia Artis is assistant dean for access and inclusion for two UC Irvine schools
Published
Sharnnia Artis will be George Mason University’s vice president for diversity, equity and inclusion and chief diversity officer, beginning Sept. 1. Artis currently serves as the assistant dean for access and inclusion in the Donald Bren School of Information and Computer Sciences and Samueli School of Engineering at the University of California, Irvine. George Mason
Shield AI acquires Alexandria-based defense contractor
Companies creating AI pilots for military aircraft
Published
Alexandria-based defense contractor Heron Systems Inc. was acquired by San Diego-based technology company Shield AI, according to announcement Thursday from Shield AI. Financial details of the transaction were not disclosed. The companies will work on the deployment of artificial intelligent pilots for military aircraft. Shield AI is applying self-driving car technologies to military aircraft, according
CACI wins $1.4B DOD contract
Arlington-based contractor will provide analysis for Defense Threat Reduction Agency
Published
Arlington-based Fortune 500 federal technology contractor CACI International Inc. was awarded a potential $1.4 billion task order by the U.S. Department of Defense to continue supporting the Defense Threat Reduction Agency’s Decisive Action Task. Under the single-award task order, CACI will provide analysis and technology to the DTRA to help counter and deter weapons of
Va. hotel revenues still lagging pre-pandemic levels
June revenues decreased 22% compared with June 2019
Published
Virginia hotel revenues for June 2021 were down 22% compared with pre-pandemic levels in June 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold decreased by 14%. The average daily rate (ADR) paid for hotel rooms
Roanoke/New River Valley
Northam appoints members to newly created cannabis boards
Boards will regulate cannabis market and manage equity fund
Published
Virginia Gov. Ralph Northam has appointed members to three newly created oversight boards for the legalization of recreational marijuana, his office announced today. On July 1, Virginia’s adult-use cannabis legislation changes began going into effect. This year, the General Assembly legalized possession of up to one ounce in public and home cultivation of up to
Plastics equipment manufacturer to reopen Pulaski facility
Xaloy Holdings to produce 35 jobs, investing $1.75 million
Published
Plastics industry equipment manufacturer Xaloy Holdings LLC will move its barrel manufacturing operation from Ohio back to Virginia, reopening its former facility in Pulaski County, Gov. Ralph Northam announced Thursday. Xaloy will invest $1.75 million in its 100,000-square-foot, 30-acre site in Pulaski to produce bimetallic barrels, which are formed by bonding metal linings to the
Draper Aden Associates names new CIO
Lud Eng was firm's director of IT
Published
Richmond-based engineering, surveying and environmental firm Draper Aden Associates promoted Lud Eng to chief information officer on July 1. Eng, who is based in Blacksburg, previously served as the firm’s director of information technology. He has been with Draper Aden for more than 25 years. “We are pleased to announce Lud’s new position with the
Valley Wealth Group buys former Truist office in Roanoke
$1.9M deal closed in late June
Published
A Truist Bank office in Roanoke was sold for $1.9 million in late June, Cushman & Wakefield | Thalhimer announced. VWG/RNK Properties LLC purchased the 6,715-square-foot office building at 3119 Chaparral Drive from Truist. The property will be the future location of Valley Wealth Group, a Roanoke-based financial management firm. Barry Ward and Price Gutshall
Shenandoah Valley
JMU entrepreneurship center hires new director
Suzanne Bergmeister comes from the University of Louisville
Published
James Madison University announced Thursday that Suzanne Bergmeister has been named the next executive director of its Gilliam Center for Entrepreneurship. She comes from the University of Louisville’s Forcht Center for Entrepreneurship in Kentucky, where she has been the full-time entrepreneur in residence for the past 15 years and assistant director for four. Bergmeister, who
Shenandoah Growers taps ex-Starbucks exec as new CEO
Indoor agriculture company also hires new CFO
Published
Rockingham County-based indoor agriculture company Shenandoah Growers Inc. has appointed former Starbucks Inc. Chief Marketing Officer Matthew Ryan as the company’s new CEO. And Mike Buckley, former senior vice president of business for Postmates, has been hired as Shenandoah Growers’ chief financial officer, the company announced Wednesday. Former Shenandoah Growers CEO Tim Heydon, who stepped
Clouds gathering over big solar farms in Va.?
Published
In recent years, many solar farms have been approved by local governments across the state, but the outlook in some areas isn’t so sunny anymore. In Frederick County, the Board of Supervisors’ rejection of a utility-scale solar project has led to a lawsuit. In April, Hollow Road Solar LLC and property owners National Fruit Orchards
Shenandoah Growers taps new chief science officer
Tessa Pocock joins Rockingham-based greens grower
Published
Tessa Pocock has been named Shenandoah Growers Inc.’s new chief science officer effective immediately, coming to the Rockingham County-based indoor agriculture company from San Francisco-based Plenty Unlimited Inc., where she was director of lighting optimization. Pocock, who holds a Ph.D. in environmental stress biology and master’s degrees in plant biochemistry and biology from Western University
Southern Virginia
Danville apartment complex sells for $7.85M
100-unit Turnpike Townhomes is on Franklin Turnpike
Published
Danville Investors LLC sold the 100-unit Turnpike Townhomes for $7.85 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. Turnpike Townhome Apartments LLC purchased the apartments at 1300 Franklin Turnpike, as well as parcels of adjacent vacant land, on June 21. Clay Taylor, a certified commercial investment member, of Cushman & Wakefield |
Commercial truck, van floor manufacturer to build $12.8M plant in Patrick County
Prolam LLC will create 58 jobs at new facility
Published
Prolam LLC, a Canadian manufacturer of hardwood floors for commercial trucks and dry van trailers, will invest $12.8 million to establish its first U.S. manufacturing plant at the former Ten Oaks satellite facility in Patrick County, creating 58 jobs, Virginia Gov. Ralph Northam announced Wednesday. The facility will increase Prolam’s manufacturing capacity by 50%, and
Pittsylvania officials hope to spur brownfields development
Published
Pittsylvania County’s growth trajectory received an added boost in May when the U.S. Environmental Protection Agency awarded the county a $600,000 grant to conduct environmental due diligence on 18 brownfield sites in the county. Five of the sites are considered high priorities. They include the former Southside Manufacturing mill site in Blairs; Pat’s Place in
UK manufacturer to build $6.4M facility in Danville
MEP Ltd. will locate new U.S. operation at Danville-Pittsylvania Cyber Park
Published
MEP Ltd., a manufacturer of complex plastic and metal components for the aerospace and defense sectors, will invest $6.4 million to establish its first U.S. operation in Danville, creating 45 jobs, Virginia Gov. Ralph Northam announced Monday. The company, which will operate in the U.S. as Making Everything Possible LLC, will locate in the Cyber
Southwest Virginia
Hard Rock names president of new Bristol hotel and casino
Temporary casino to open in second quarter
Published
Hard Rock International Inc. has announced a president to lead its and casino operations in Bristol. Allie Evangelista most recently served three years as a vice president and general manager for Penn National Gaming operations, including the past seven months at Hollywood Casino Perryville, in Maryland. Evangelista has “already hit the ground running and is
United Way of SW Va. names marketing, communications director
Scott Robertson was managing editor of The Business Journal of Tri-Cities
Published
The United Way of Southwest Virginia named Scott Robertson as its director of marketing and communications. He will assume the role on Aug. 9, according to the Abingdon-based nonprofit. Robertson will direct strategic marketing and promotions, provide communications project management and oversee digital services. President and CEO Travis Staton said in a statement, “The work
Virginia to spend $700M on universal broadband by 2024
Federal stimulus funding will help cut 10-year goal to three years
Published
Ahead of the General Assembly’s August special session, Gov. Ralph Northam announced Friday he wants to spend $700 million of Virginia’s federal relief funding on expanding broadband access to all of Virginia. Virginia received $4.3 billion in federal funds through the $1.9 trillion American Rescue Plan passed in March. Joined by U.S. Sen. Mark Warner at
Region hopes for jolt from batteries, electrification
Published
Adam Wells is charged up about a plan to create a “battery and electrification economy” in Southwest Virginia. “This is the most exciting thing that I’m working on,” says Wells, Appalachian Voices’ Norton-based regional director of community and economic development. The environmental nonprofit led the effort that persuaded GO Virginia, the state-funded economic development initiative,
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