Industries

Hopewell ethanol plant moves forward

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The Virginia Department of Environmental Quality today will give Osage Bio Energy LLC the air permit it needs to build an ethanol plant in Hopewell. The plant would be able to produce up to 68.2 million gallons of ethanol each year. Hopewell residents and officials have been split in their support of the plant. (Richmond Times-Dispatch)

Virginia’s jobless rate hit a five-year high in July as temporary summer workers were laid off. That’s still lower than the country’s rate of 6 percent. Arlington County had the lowest unemployed rate at 2.7 percent and Martinsville had the highest wit 12.2 percent. (Richmond Times-Dispatch)

The tough economy has been good for Dollar Tree Stores Inc. as shoppers look for bargains in a tough economy. Net income rose 15 percent to $37.6 million for its second quarter. (The Virginian-Pilot

TowneBank has doubled the capital it expected to raise to $60 million. The Portsmouth community bank announced a plan last month to raise capital to handle an increased demand for loans. (The Virginian-Pilot)

For the Record

Comstock Homebuilding, a Reston-based home builder, defaulted on several loans, totaling $86.5 million according to Securities and Exchange Commission filings, which fueled company projects during the housing boom. The slump in the housing markets has led a number of publicly traded home builders to file for bankruptcy. Comstock hopes to renegotiate the terms of its loans. This summer the company hired FTI Consulting, from Baltimore, to assist with its restructuring. Comstock announced in July its intention to stop payments on about 60 percent of its loan portfolio in order to force lenders to negotiate. (The Washington Post)

Serco Inc., a Reston-based division of the international service company Serco Group, will buy SI International, Inc. of Reston, a provider of information technology services to the government sector. Serco will pay $32 per share in cash, approximately $423 million, and assume SI’s debt, $87.3 million, net of cash, as of June 28. The deal will move Serco to the $1 billion-level of federal contractors and strengthen its portfolio of contracts in the defense, intelligence and homeland security markets. Serco was named the Most Admired Support Services Company in the United Kingdom and has approximately 40,000 employees in 30 countries, with 7,000 in North America. (PRNewswire)

CACI International Inc., an Arlington provider of technology services, received a three-year, $36 million contract including options, from the Army to support research and development related to night vision equipment and electronic sensors. This contract extends the size and scope of CACI’s work with the modeling and simulation division of the Army’s Night Vision and Electronic Sensors Directorate. CACI will develop software for 3D simulations to be used in training troops. This makes a total of $129 million CACI has been awarded by the night vision division since December 2007. (PRNewswire)


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