Industries

Virginia’s exports growing rapidly

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Buoyed by an increasing population and a diverse economy, Virginia’s exports are growing. Last year, Virginia businesses exported $16.9 billion in products overseas. That’s a 56 percent increase over $10.8 billion in exports five years ago. (Richmond Times-Dispatch)

Economic leaders from around the world are meeting at the University of Virginia. to discuss economic problems and solutions. Lead by former U.S. Treasury Secretary John Snow, the two-day economic summit includes leaders from Iraq, South Korea, Germany, Afghanistan, Kuwait, Canada, Brazil, Spain, China, India and Italy. On Monday, the group discussed the scarcity of resources, rising inflation and slow economic growth. (Daily Progress)

Hampton Roads construction companies are leaning on the military in the slowing economy. In the past four years, the military has spent $1.1 billion for construction projects in Hampton Roads on everything from housing to ship repairs and operations centers. (The Virginian-Pilot)

For the Record

Eastern Virginia Medical School received a $100 million grant from the U.S. Agency for International Development for work on a product to prevent the transmission of the virus that causes AIDS. The funds will used to advance research on various forms of microbicides such as topical gels, creams, tablets, films or oral pills to block HIV and other sexually transmitted diseases. The work is done through EVMS’s CONRAD program, based in Arlington, with staffers also in Norfolk, Atlanta and West Chester, Pa. The CONRAD program has worked on microbicides for 20 years, one of its more promising prospects, called “tenofovir gel,” is undergoing clinical trials in South Africa. (The Virginian-Pilot)

The Hartwell Foundation named the University of Virginia one of the top 10 places for biomedical research for the second consecutive year. Hartwell placed importance on the university’s work on children’s health issues and the scope of ongoing biomedical research, as well as its medical school and biomedical engineering program.  Biomedical engineer Richard Price received a $300,000 grant from the Hartwell Foundation this year for a process to treat brain tumors in children. The Hartwell Foundation provides money for early-stage biomedical research projects — primarily those benefiting children. (The Daily Progress)

Scallan Properties, a Washington-based development company, plans to renovate a former Coca-Cola bottling plant in Winchester into modern office space. The art-deco building on Valley Avenue was built in 1940 and was a bottling operation for decades until its conversion a few years ago into a warehouse operation. About two years ago, Coca-Cola closed the facility and put it up for sale. Scallan Properties paid $1.1 million for the property last November. The firm looked at dozens of options for using the building. A two-story addition built in 1963 will be razed for parking space and a second floor will be added to a 1974 addition. When finished, the facility will have about 28,000 square feet of space. Reader & Swartz Architects designed the new look, which will retain many of the building’s original characteristics. Scallon specializes in turning historic structures into modern apartments, offices, and retail shops. (The Winchester Star)

 


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