For the Record - Eastern Virginia, February 2012

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Alere Toxicology Services, a drug-testing company, moved its regional headquarters from Norfolk to Portsmouth after a recent expansion exhausted its relocation options in Norfolk. Portsmouth provided an incentive grant of $50,000 with a stipulation Alere must keep at least 31 workers with an average salary more than $60,000 during the next five years. (The Virginian-Pilot)

The Army will cut more than 80 civilian jobs at Joint Base Langley-Eustis as part of a servicewide reduction in defense funding. Most of the cuts are expected to come through attrition or early retirement. (The Associated Press)

Continental Parkway LLC bought two warehouse and office properties on Virginia Beach’s International Parkway for $5.4 million from Rosemont Realty Inc. The buildings, 64,000 square feet, are 92 percent leased.  (The Virginian-Pilot)

Elizabeth River Crossings entered into a contract with the Virginia Department of Transportation to build a new Midtown Tunnel between Portsmouth and Norfolk, rehabilitate existing tunnels and extend the Martin Luther King Freeway. The state will maintain ownership, but ERC will finance, build, operate and maintain the $2.1 billion project for 58 years. (News release)

The Hampton Roads Sanitation District will invest about $20 million to build a green-design headquarters in Virginia Beach. The project is being undertaken to consolidate staffs, provide meeting spaces and afford hardened protection for computer systems capable of withstanding a Category 4 hurricane. (The Virginian-Pilot)

Newport News Shipbuilding received a $113.2 million contract modification from the Navy, exercising options for preparation work on the aircraft carrier John F. Kennedy, the second carrier planned in the new Gerald R. Ford class. (The Virginian-Pilot)

The Virginia Aquarium & Marine Science Center Foundation received a $1 million grant from the Hampton Roads Community Foundation. The grant will fund future education undertaken by the staff and support college internships at the aquarium. (The Virginian-Pilot)

Sentara Healthcare donated $10 million to Eastern Virginia Medical School for two $5 million endowments. One will support EVMS’ simulation and immersive learning center, and the other the Glennan Center for Geriatrics and Gerontology. It is the largest endowment in EVMS history. (The Virginian-Pilot)

Southern Bank and Trust Co., which took over the failed Norfolk-based Bank of the Commonwealth, announced plans to close nearly half its branches in Hampton Roads and on the Outer Banks and lay off workers. The consolidation plan will leave the bank with 11 of the 21 former Commonwealth branches.  (The Virginian-Pilot)

Spectrum, a Newport News based technical and professional services company, has been named prime contractor on the Acquisition Consolidated Enterprise Support Services (ACCESS) Contract and on the Contracted Advisory and Assistance Services (CAAS) IV contract.  ACCESS is a $500 million contract that supports the various operations at Wright-Patterson Air Force Base in Ohio.  Spectrum and its team were one of 11 large company teams selected a prime contractor on CAAS IV, a 5-year military contract with a $4.7 billion ceiling. (News release)

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