1488010136 Virginia Business http://www.virginiabusiness.com/ Business news and intelligence for and about the Virginia business community en vgarabelli@virginiabusiness.com Copyright 2017 2017-02-24T22:08:00+00:00 http://www.virginiabusiness.com/news/article/aes-and-aimco-to-acquire-solar-developer-for-853-million AES and AIMCo to acquire solar developer for $853 million http://www.virginiabusiness.com/news/article/aes-and-aimco-to-acquire-solar-developer-for-853-million http://www.virginiabusiness.com/news/article/aes-and-aimco-to-acquire-solar-developer-for-853-million#When:22:08:00Z Arlington-based The AES Corp. and Canada-based Alberta Investment Management Corp. (AIMCo) said Friday they have agreed to acquire FTP Power LLC (sPower) for $853 million in cash and the assumption of $724 million in debt. Salt Lake City-based sPower is the largest independent owner, operator and developer of utility scale solar assets in the United States. AES and AIMCo, one of Canada’s largest investment managers, plan to purchase sPower from Fir Tree Partners and its minority owners. AES and AIMCo will each own slightly below 50 percent equity interests in sPower. After the deal closes, AES’ ownership of renewable energy projects in operation and under construction will grow from 8,278 megawatts to 9,552 megawatts, including hydro, wind, solar and energy storage. The deal is expected to close by the third quarter of 2017.It is subject to review or approval by the Federal Energy Regulatory Commission, the Committee on Foreign Investment in the United States and the expiration or termination of any waiting period under the Hart-Scott-Rodino Act. 2017-02-24T22:08:00+00:00 http://www.virginiabusiness.com/news/article/more-than-2000-hampton-roads-residents-sign-up-for-toll-relief More than 2,000 Hampton Roads residents sign up for toll relief http://www.virginiabusiness.com/news/article/more-than-2000-hampton-roads-residents-sign-up-for-toll-relief http://www.virginiabusiness.com/news/article/more-than-2000-hampton-roads-residents-sign-up-for-toll-relief#When:21:37:00Z More than 2,000 Norfolk and Portsmouth residents will receive financial assistance for use of the Downtown and Midtown tunnels, Gov. Terry McAuliffe announced Friday. The toll relief, offered to Norfolk and Portsmouth residents with incomes of less than $30,000, offers a 75-cent refund for each trip in the Downtown and Midtown tunnels beginning March 1. Elizabeth River Crossings (ERC), operator of the Elizabeth River Tunnels, has agreed to pay the Commonwealth $500,000 a year for 10 years to fund the Toll Relief program. Once a qualified participant’s Virginia E-ZPass transponder has recorded eight trips or more through the Downtown or Midtown tunnels during a calendar month, a 75-cent per trip refund will be credited to his or her Virginia E-ZPass account. Toll Relief is a 10-year program. The 2017 application period began Thursday, Dec. 1, 2016, and concluded Wednesday, Feb. 15, 2017. The 2018 application period begins Friday, Dec. 1, 2017, and will run through Thursday, Feb. 15, 2018. For more information, visit http://www.VDOTTollRelief.com 2017-02-24T21:37:00+00:00 http://www.virginiabusiness.com/uploads2/HEALTH_vcuhealth.png VCU Health System remained at the top of the list for net patient revenue. Courtesy VCU Health System http://www.virginiabusiness.com/news/article/what-will-congress-do What will Congress do? http://www.virginiabusiness.com/news/article/what-will-congress-do http://www.virginiabusiness.com/news/article/what-will-congress-do#When:16:12:00Z Not much has changed from last year in The Big Book’s annual list of the commonwealth’s top hospitals in terms of revenue. The top four hospitals remain VCU Health System, University of Virginia Medical Center, Inova Fairfax Hospital and Carilion Medical Center. Each of these large hospitals had more than $1 billion in net patient revenue in 2015, the latest year that information is available from Virginia Health Information. The health-care environment that these hospitals and others operate in, however, may change significantly in coming months, depending on Congress’ efforts to repeal and replace the Affordable Care Act (ACA). Hospitals throughout Virginia already were worried about deductions in federal payments they faced under the ACA, also known as Obamacare. Those cuts were supposed to be offset by revenue from an increasing number of paying patients covered either by private insurance or expanded Medicaid programs. A Supreme Court decision, however, made Medicaid expansion optional for the states. Virginia never expanded its program. Now hospital and public health officials fear that Virginia will receive less federal money for health programs than it receives today. As this issue goes to press in mid-February, the direction that Congress will take on Obamacare remains unclear. At the beginning of the 2017 state legislative session, the Virginia Hospital & Healthcare Association urged legislators to “Do No Harm” — avoid major health-care changes — until the national pictures become clearer. Meanwhile, two of the state’s major health-care providers, Inova Health System and the University of Virginia, are collaborating on plans that would include a  $112 million research institute and a regional U.Va. School of Medicine campus at Inova. The new research institute, the Global Genomics and Bioinformatics Research Institute, would be located at the Inova Center for Personalized Health, the health system’s new 117-acre campus in Fairfax. The two institutions would also form a cancer research partnership between the Inova Schar Cancer Institute and the U.Va. Cancer Center, including efforts to achieve designation by the National Cancer Institute as a Comprehensive Cancer Center. The Inova regional campus of the U.Va. School of Medicine would enable U.Va. medical students to complete their clerkship and post-clerkship education in Northern Virginia at Inova facilities. Health charts: Top hospitals by revenue Health and accident insurers Life insurers Virginia’s top nursing facilities by revenue 2017-02-24T16:12:00+00:00 http://www.virginiabusiness.com/news/article/virginias-airbnb-hosts-earned-more-than-41-million-in-2016 Virginia’s Airbnb hosts earned more than $41 million in 2016 http://www.virginiabusiness.com/news/article/virginias-airbnb-hosts-earned-more-than-41-million-in-2016 http://www.virginiabusiness.com/news/article/virginias-airbnb-hosts-earned-more-than-41-million-in-2016#When:02:17:00Z   Just as Virginia’s General Assembly is poised to pass legislation putting restrictions on short-term rentals, Airbnb released data Thursday showing that its Virginia’s hosts earned a combined $41.4 million in supplemental income while welcoming about 280,000 guests in 2016. According to the San Francisco-based company, this business represents a 111 percent uptick in year-over-year growth. Airbnb said the number of Virginia hosts grew 65 percent to 6,800 people in 2016. This is the final  week of the 2017 General Assembly, and a bill that would give local governments more authority to regulate Airbnb rentals is awaiting final action on the House floor. It would allow localities to adopt ordinances requiring people to register before they could to offer property for short-term rentals. The registries would give local governments information needed to regulate and tax the rentals. Many communities in Virginia and around the country have been cracking down on Airbnb hosts in response to lobbying from the hospitality industry, which wants a level playing field when it comes to regulation and taxes. Some localities, including Miami Beach, have enacted penalties if people violate regulations governing short-term rentals. A first-time offense is a $20,000 fine, which increases to $100,000 for a fifth penalty. In Virginia, Fredericksburg requires a special-use permit, with short-term rentals falling under the same zoning district regulations as bed-and-breakfasts.  Arlington County legalized short-term rentals of 30 days or less in December. Its ordinance requires people offering a room or a house to get a license. Rented units must be owner-occupied for at least six months of the year, and meet state building codes. In addition, Arlington requires the property to have fire and smoke detectors and a fire extinguisher.  It also sets limits on the number of visitors who can stay in a short-term rental, six people per unit, or two per bedroom. In a news release on its data, Airbnb described home sharing as  “an economic lifeline,” for some hosts, with annual earnings for a typical Virginia host $4,700. Airbnb also shed light on the demographics of people in Virginia who are renting out their homes for short stays. It said 36 percent of its hosts are over the age of 50, and 60 percent are women.  According to Airbnb, the extra money hosts earn often goes towards paying their mortgages, other bills and supplementing fixed, retirement incomes. In Virginia, the city attracting the most Airbnb guests in 2016 was Charlottesville, with 35,100 guest arrivals and $4.5 million in host income. While Arlington saw fewer guests arrivals, 31,000, the host income was higher, $7 million. As part of Airbnb’s commitment to work with cities, the hospitality company said it collects and remits hotel, occupancy and tourist taxes on behalf of its hosts and guests in more than 220 cities and communities globally. Since its first agreements were enacted in 2014, Airbnb said it has remitted more than $175 million in tax revenue around the world. If the 50 largest cities in the U.S. let Airbnb collect and remit taxes on behalf of its hosts, the company said the revenue for local governments would total $2.5 billion during the next 10 years.  Founded in August 2008, Airbnb provides a marketplace for people to list and book accommodations around the world — online or from a mobile phone or tablet. The company said it connects people to travel experiences in more than 34,000 cities and 191 countries. table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } City2016 Guest ArrivalsTotal 2016 Host Income Charlottesville35,100$4.5 Million Arlington31,000$7 Million Richmond27,000$3.1 Million Virginia Beach16,900$2.6 Million Alexandria15,800$3.2 Million Williamsburg7,700$806,000 Lynchburg7,000$681,000 Norfolk7,000$1.1 Million Blacksburg6,800$846,000 Harrisonburg6,700$594,000 Roanoke6,600$617,000 Waynesboro6,300$704,000 Luray4,400$568,000 Falls Church3,400$829,000 Stanardsville3,300$454,000 Front Royal3,100$379,000 Staunton2,900$299,000 Fairfax2,900$554,000 Lexington2,900$365,000 Leesburg2,400$386,000 2017-02-24T02:17:00+00:00 http://www.virginiabusiness.com/news/article/german-company-opening-office-in-richmond-area German company opening office in Richmond area http://www.virginiabusiness.com/news/article/german-company-opening-office-in-richmond-area http://www.virginiabusiness.com/news/article/german-company-opening-office-in-richmond-area#When:21:48:00Z The Greater Richmond Partnership announced Thursday that UDS Urban Data Systems LLC, a German software developer, will open its first U.S. operation in the area. UDS will open a local sales and support office.  The company develops software to help architects and engineers create tapered roofs for shopping malls, restaurants and other buildings. Roman Boernchen, UDS president, said the company’s reasons for choosing the Richmond area included its location, travel connections, affordable wages and office space. “What really convinced us, however, was Richmond’s special flair: history, culture, good restaurants and, not least, the universities provide a particularly good working environment,” he said in a statement.  The company also considered Atlanta, Chicago, New York, Philadelphia, and Pittsburgh. The Greater Richmond Partnership Inc. is an economic development organization serving Richmond and Chesterfield, Hanover and Henrico counties. 2017-02-23T21:48:00+00:00 http://www.virginiabusiness.com/news/article/mythics-to-relocate-corporate-headquarters-in-virginia-beach ​Mythics to relocate corporate headquarters in Virginia Beach http://www.virginiabusiness.com/news/article/mythics-to-relocate-corporate-headquarters-in-virginia-beach http://www.virginiabusiness.com/news/article/mythics-to-relocate-corporate-headquarters-in-virginia-beach#When:22:07:00Z Mythics, a Virginia Beach technology solutions consulting firm, will move its corporate headquarters to Virginia Beach Town Center in an expansion that the company says will create 30 jobs. The company will expand operations by leasing the top floor of a building at 4525 Main Street Tower and the majority of the eighth floor for a total of nearly 39,000 square feet. Founded in 2000, Mythics is currently located at 1496 Great Neck Road. It plans to relocate 143 full-time employees to the new headquarters.  The company provides technology solutions for the federal, state and local government, commercial, higher-education, utilities and health-care sectors. "This was a highly competitive relocation effort," Virginia Beach Economic Development Director Warren D. Harris said in a statement. "Mythics is a home-grown success story that started in a living room and has since grown to $900 million plus in sales. We see this location decision as a testament to Town Center as a corporate headquarters destination." The capital investment in real estate improvements, business property, and machinery and tools for the move is expected to exceed $7.5 million. The Virginia Beach Economic Development Authority has approved an Economic Development Investment Program grant in the amount of $250,000 based on capital investment. The grant will offset Mythics' investment in real estate improvements and business equipment. "We considered multiple options, but Virginia Beach was the choice that most closely matched our corporate needs," said company founder Mike Hillier. Vivian Turok of Divaris Real Estate Inc. assisted Mythics in its corporate relocation. 2017-02-22T22:07:00+00:00 http://www.virginiabusiness.com/news/article/stg-group-to-acquire-preferred-systems-solutions-in-119-million-deal STG Group to acquire Preferred Systems Solutions in $119 million deal http://www.virginiabusiness.com/news/article/stg-group-to-acquire-preferred-systems-solutions-in-119-million-deal http://www.virginiabusiness.com/news/article/stg-group-to-acquire-preferred-systems-solutions-in-119-million-deal#When:22:05:00Z Reston-based STG Group Inc. plans to acquire McLean-based Preferred Systems Solutions Inc. (PSS) in a deal worth $119 million. STG said the deal would strengthen its position as a provider of technology, cyber, and data solutions to more than 50 U.S. government agencies. PSS provides computing, analytics, program and acquisition management, cyber and software solutions to defense, intelligence and federal civilian agencies. “With the acquisition of PSS, we are advancing our technological agility and ingenuity to meet the most complex and demanding national security challenges facing the U.S.,” STG President Phillip Lacombe said in a statement. “The combined company will have stronger core competences, greater scale and depth, the ability to develop new capabilities and focus on a wider range of customers managing larger, more complex federal programs.” STG Group intends to finance the deal with a combination of debt and equity. The company expects the transaction to close during the first quarter of 2017, subject to customary closing conditions, including regulatory review. 2017-02-22T22:05:00+00:00 http://www.virginiabusiness.com/news/article/richmond-recognized-as-a-top-10-lgbt-destination Richmond recognized as a Top 10 LGBT destination http://www.virginiabusiness.com/news/article/richmond-recognized-as-a-top-10-lgbt-destination http://www.virginiabusiness.com/news/article/richmond-recognized-as-a-top-10-lgbt-destination#When:21:03:00Z OutRVA said Wednesday that Richmond has been selected as a Top 10 finalist in the NatWest British LGBT Awards to determine the best LGBT travel destination. Other top 10 destinations in the running are: Amsterdam, Barcelona, Miami, New York, Orlando, San Francisco, Sao Paulo, Stockholm and Vancouver. The No. 1 LGBT travel destination will be determined by votes cast through March 22. Winners will be announced at an awards party on May 12 in London. The NatWest British LGBT Awards recognizes individuals, organizations and destinations that have demonstrated a commitment to the LGBT community. Businesses and corporate organizations celebrated for their commitment to the LGBT community have included MTV, HSBC, Marriott Hotels, Royal Air Force, American Express, Vodafone, EY and Tesco. Richmond Mayor Levar Stoney is asking for votes in a video recorded on the city’s new T. Tyler Potterfield bridge with downtown Richmond and members of Richmond’s LGBT community behind him. “This is an exciting opportunity for Richmond to tell travelers how welcoming we are. Our wonderful community has so much to offer LGBT visitors and OutRVA has helped communicate that message,” Stoney said in a statement. OutRVA is the Richmond Region Tourism’s campaign to highlight the area as a welcoming travel destination for LGBT visitors. “We’ve accomplished so much through the OutRVA campaign and put Richmond on the map as a welcoming destination. The British LGBT Awards can take Richmond to the next level and spread the word on an international scale,” said Katherine O’Donnell, Richmond Region tourism’s vice president of community relations. More than 7 million people visit the Richmond region annually, contributing more than $2 billion to the local economy. Tourism generates nearly 22,000 jobs in the Richmond Region. 2017-02-22T21:03:00+00:00 http://www.virginiabusiness.com/news/article/temperpack-expanding-in-richmond TemperPack expanding in Richmond http://www.virginiabusiness.com/news/article/temperpack-expanding-in-richmond http://www.virginiabusiness.com/news/article/temperpack-expanding-in-richmond#When:20:26:00Z Richmond-based TemperPack, a manufacturer of sustainable packaging, announced Wednesday a $2 million expansion that’s expected to create 23 jobs. The company plans to purchase production equipment that boosts capacity and creates products for new markets. TemperPack, founded in 2015, will double its employee count within two years. New employees will be trained through the Virginia Economic Development Partnership’s Virginia Jobs Investment Program. TemperPack’s insulation products help companies increase their cold-chain shipments. “We take pride in re-engineering recycled, natural materials into innovative, powerful packaging that keeps food and pharma products fresh during transport, nationally and globally,” TemperPack co-founder, Charles Vincent, said in a statement. 2017-02-22T20:26:00+00:00 http://www.virginiabusiness.com/news/article/corporate-office-properties-trust-sells-53-million-of-northern-virginia-ass Corporate Office Properties Trust sells $53 million of Northern Virginia assets http://www.virginiabusiness.com/news/article/corporate-office-properties-trust-sells-53-million-of-northern-virginia-ass http://www.virginiabusiness.com/news/article/corporate-office-properties-trust-sells-53-million-of-northern-virginia-ass#When:19:18:00Z Corporate Office Properties Trust (COPT) said Wednesday that it recently sold $53 million of suburban assets in Northern Virginia. In mid-January, the Columbia, Md.-based real estate investment trust sold 5.3 acres of land for $14 million. Last week, it completed the sale of 3120 Fairview Park Drive in the Merrifield submarket of Falls Church for $39 million. According to COPT, the 190,500-square-foot building was 87 percent occupied at the end of 2016. The firm has an additional $10 million of asset sales under contract and $37 million to $47 million in contract negotiations, all of which are expected to close during 2017. COPT is an office REIT that owns, manages, develops and acquires office and data center properties in locations that support U.S. government agencies and their contractors, most of whom are engaged in national security, defense and information technology related activities servicing priority missions. The firm also owns a portfolio of Class-A office properties. 2017-02-22T19:18:00+00:00 http://www.virginiabusiness.com/news/article/sabey-signs-first-tenant-at-intergrate.ashburn-campus Sabey signs first tenant at Intergrate.Ashburn campus http://www.virginiabusiness.com/news/article/sabey-signs-first-tenant-at-intergrate.ashburn-campus http://www.virginiabusiness.com/news/article/sabey-signs-first-tenant-at-intergrate.ashburn-campus#When:19:15:00Z Seattle-based Sabey Data Center Properties said Wednesday that the first of three buildings at its data center campus in Ashburn is fully operational.   Intergate.Ashburn is a 900,000-square-foot, 70+ megawatt (MW) campus located on 38 acres in the heart of what is the East Coast’s data center backbone in Loudoun County. Sabey also announced that it has signed its first tenant at Intergate.Ashburn. The tenant will occupy a 1.8 MW, 11,988-square-foot quadrant at Building C.  The building represents the first phase of the campus development. Located a short distance from Washington, D.C., Intergate.Ashburn is in the busiest and fastest-growing data center market in the country.  The campus expands Sabey’s national data center footprint and provides direct proximity to all network exchanges in the region. “Enterprises and institutions around the country want a data center presence in the Washington, D.C., corridor, a densely populated hub ideally situated to serve the East Coast population and with an aggregation of carriers that make Virginia virtually indispensable to many data center users,” Robert Rockwood, the president of Sabey Data Centers, said in a statement. Rockwood cited the area’s low power costs — about 5.5 cents per kilowatt-hour — and available tax incentives as reasons why “Ashburn is one of the most cost-effective locations for data centers in the United States.” Cameron Richardson, director of leasing at Intergate.Ashburn, said, “The Intergate.Ashburn campus already is served by seven fully operational carriers, with additional carriers in the pipeline.  Services available today include dark fiber, cloud on-ramps, direct internet access DIA) and point-to-point circuits … Our objective is to provide a broad choice of carriers and services to support our customers’ business models with flexibility and efficiency. ” The company expects to attract tenants from the government, technology, social media and health care sectors, as well as content and cloud service providers. With a portfolio of more than 3 million square feet, Sabey Data Center Properties is one of largest privately owned multi-tenant data center owner/developer/operators in the U.S. 2017-02-22T19:15:00+00:00 http://www.virginiabusiness.com/news/article/public-companies-list Public companies list http://www.virginiabusiness.com/news/article/public-companies-list http://www.virginiabusiness.com/news/article/public-companies-list#When:14:45:00Z table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } Rank"Institution Headquarters Phone Website Top executive of Va. Va. deposits fices ($000)1"                1 Capital One Bank USA 2 Glen Allen(800) 655-2265capitalone.comRichard D. Fairbank1$56,161,636 2 Wells Fargo & Co. San Francisco(800) 225-5935wellsfargo.comJohn G. Stumpf28936,767,065 3 E*Trade Bank 3 Arlington(800) 387-2331us.etrade.comPaul T. Idzik235,169,977 4 Bank of America Charlotte, N.C.(800) 432-1000bankofamerica.comBrian T. Moynihan14527,608,625 5 BB&T Corp. Winston- Salem, N.C.(800) 226-5228bbt.comKelly S. King35822,793,623 6 SunTrust Bank Atlanta(800) 786-8787suntrust.comWilliam H. Rogers Jr.21218,786,024 7 Capital One National Association 2 McLean(800) 655-2265capitalone.comRichard D. Fairbank8110,649,114 8 Union Bank Richmond(800) 990-4828bankatunion.comG. William Beale1305,794,802 9 TowneBank Portsmouth(844) 638-6714townebank.comG. Robert Aston Jr.324,340,224 10 United Bank Fairfax(800) 327-9862bankwithunited.comRichard M. Adams614,171,601 11 Carter Bank & Trust Martinsville(800) 868-5762carterbankandtrust.comWorth Harris Carter Jr.883,884,669 12 PNC Bank National Association Pittsburgh(888) 762-2265pnc.comWilliam S. Demchak993,360,408 13 Cardinal Bank McLean(703) 584-3400cardinalbank.comChristopher W. Bergstrom272,679,491 14 Burke & Herbert Bank Alexandria(703) 684-1655burkeandherbertbank.comE. Hunt Burke252,232,564 15 Citibank National Association New York(800) 374-9700citibank.comBarbara J. Desoer92,126,817 16 First-Citizens Bank & Trust Co. Raleigh, N.C.(888) 323-4732firstcitizens.comFrank B. Holding Jr.471,351,695 17 TD Bank National Association Cherry Hill, N.J.(888) 751-9000tdbank.comBharat B. Masrani211,337,814 18 First Bank & Trust Lebanon(276) 889-4622firstbank.comWilliam H. Hayter201,044,001 2017-02-22T14:45:00+00:00 http://www.virginiabusiness.com/companies/article/tredegar-hires-new-director Tredegar hires new director http://www.virginiabusiness.com/companies/article/tredegar-hires-new-director http://www.virginiabusiness.com/companies/article/tredegar-hires-new-director#When:09:54:00Z Tredegar Corp. announced Tuesday that George A. Newbill will retire from the board of directors at its shareholder meeting in May. Newbill has been on the board since 2008. Tredegar also announced that the board has appointed John M. Steitz to the board. He will be up for election by Tredegar’s shareholders at the company’s annual meeting in May. Steitz is president and CEO of Addivant Corp., a manufacturer of performance-based polymer additives. He previously was president and chief operating officer PQ Corp., a producer of inorganic performance chemicals. He served as chief operating officer of Albemarle Corp. from 2007 until 2012. He also is a director of Innophos Holdings. Tredegar  is a manufacturer of plastic films and aluminum extrusions and is headquartered in Richmond. 2017-02-22T09:54:00+00:00 http://www.virginiabusiness.com/news/article/mpg-announces-land-acquisition-for-publix-anchored-shopping-center MPG announces land acquisition for Publix anchored shopping center http://www.virginiabusiness.com/news/article/mpg-announces-land-acquisition-for-publix-anchored-shopping-center http://www.virginiabusiness.com/news/article/mpg-announces-land-acquisition-for-publix-anchored-shopping-center#When:01:03:00Z   Morgan Property Group of Charlotte said Tuesday that it has acquired 18+ acres of vacant land from United Dominion Realty Trust in Hanover County for a shopping center. The price was not disclosed. The property, located along Mechanicsville Turnpike and Brandy Creek Drive, is adjacent to Hanover Village.  MPG said that Publix Supermarket Inc., based out of Lakeland, Fla., would serve as the center’s anchor tenant, making this the 12th store Publix has planned for the Richmond region.    Publix will occupy 50,000 square feet, and there will be an additional 13,000 square feet of strip retail available for lease.  Morgan Property Group said an outparcel that fronts Mechanicsville Turnpike would be developed in conjunction with the shopping center. This will be the 31st retail project developed by MPG in the Virginia through its affiliates since 2004.  In Hanover County, MPG previously developed a freestanding Walgreens at the corner of Mechanicsville Turnpike and Lee Davis Road, and a retail shopping center at the corner of Chamberlayne Road and Atlee Road anchored by Walgreens, AutoZone, and Connects Federal Credit Union.  This will be the eleventh retail project MPG has developed in the greater Richmond area. “We couldn’t be more proud to bring the first Publix Supermarket to Hanover County,” Trey Morgan, president of MPG, said in a statement.  “… We also look forward to working with Regency Centers, our new neighbor, in continuing the fine retail tradition they have built at this intersection with Hanover Village.” Zach Means of Divaris Real Estate Inc. represented Morgan Property in the transaction, and Tred Spratley of Sigma National Inc. represented the seller.  Means continues to assist MPG with the leasing of the project. Construction is expected to start on the project in the late summer, with an opening in the fall of 2018. MPG said it focuses on neighborhood shopping centers and single-tenant retail projects for repeat national clients such as Publix, Walgreens, Wawa, and McDonalds. The company and its affiliates are developing multiple retail, mixed use, and medical development projects throughout the mid-Atlantic and Southeast. 2017-02-22T01:03:00+00:00 http://www.virginiabusiness.com/news/article/bae-systems-inc.-acquires-ohio-based-engineering-firm BAE Systems Inc. acquires Ohio-based engineering firm http://www.virginiabusiness.com/news/article/bae-systems-inc.-acquires-ohio-based-engineering-firm http://www.virginiabusiness.com/news/article/bae-systems-inc.-acquires-ohio-based-engineering-firm#When:20:56:00Z Arlington County-based BAE Systems Inc. announced Tuesday the acquisition of Dayton, Ohio-based IAP Research. Financial terms of the deal were not disclosed. IAP is an engineering company focused on the development and production of electromagnetic launchers, power electronics and advanced materials. “This acquisition enhances both IAP Research and BAE Systems’ capabilities for the Engineering and Manufacturing Development of the Electromagnetic Railgun (EMRG),” Erwin Bieber, president of Platforms & Services at BAE Systems Inc., said in a statement. IAP employs approximately 40 people and has been a key subcontractor to BAE Systems for more than 10 years on the EMRG development. BAE said the acquisition of IAP aligns with its focus on investing in strategic growth markets such as precision and advanced weapon systems, and advanced technologies. 2017-02-21T20:56:00+00:00 http://www.virginiabusiness.com/news/article/more-clean-energy-jobs-for-virginia More clean energy jobs for Virginia http://www.virginiabusiness.com/news/article/more-clean-energy-jobs-for-virginia http://www.virginiabusiness.com/news/article/more-clean-energy-jobs-for-virginia#When:21:24:00Z The U.S. Department of Energy has selected Virginia as the recipient of a $500,000 grant to support clean energy programs in communities across the state. The grant, managed by the Virginia Department of Mines, Minerals and Energy (DMME), will advance low-cost financing for private sector clean energy investments and could lead to more than 700 jobs. “PACE financing has tremendous potential for improving energy efficiency and creating new opportunities for renewable energy systems on existing buildings,” DMME Director John Warren, said in a statement.  “PACE requires public-private partnerships and gives local governments a leadership role in creating and keeping clean energy jobs.” DMME will coordinate public and private stakeholders in Virginia, Washington, D.C., and Maryland to encourage growth of what is known as commercial Property Assessed Clean Energy (PACE) programs. “The clean energy sector in Virginia is growing and holds great potential for the new Virginia economy,” said Secretary of Commerce and Trade Todd Haymore as part of the announcement about the program, which came from the governor’s office.  “We believe after PACE programs are established in just a few localities that up to 160 clean energy projects can be financed, providing about 750 jobs.” The grant funds will support the formation of the Mid-Atlantic PACE Alliance (MAPA). It will inform localities, lenders and borrowers about the financing advantages of PACE. The alliance will work with interested localities to develop consistent, streamlined practices for program administration, financial underwriting guidelines, measurement and verification requirements and contractor training and support. According to the governor’s office, PACE is a no-money-down financing tool currently used in 16 states and Washington, D.C. It allows owners of commercial, industrial, multifamily and nonprofit properties to receive low-cost, long-term financing for energy efficiency, water conservation and renewable energy investments that enhance building performance and efficiencies. PACE helps building owners finance upfront costs for improvements by reducing recurring energy and water expenses. Through the PACE program, cities, towns and counties work with private lenders who are repaid when localities collect PACE loan payments from borrowers in the form of special property assessments added to a borrower’s tax bill. 2017-02-20T21:24:00+00:00 http://www.virginiabusiness.com/news/article/lumos-to-be-acquired-for-950-million Lumos to be acquired for $950 million http://www.virginiabusiness.com/news/article/lumos-to-be-acquired-for-950-million http://www.virginiabusiness.com/news/article/lumos-to-be-acquired-for-950-million#When:20:50:00Z Lumos Networks Corp. announced Monday it has agreed to be acquired by Swedish investment firm EQT Infrastructure for about $950 million. Waynesboro-based Lumos is a fiber-based service provider in the mid-Atlantic, serving 24 markets in Virginia, Pennsylvania, West Virginia, Maryland, Ohio and Kentucky. Under the agreement, Lumos shareholders will receive $18 in cash for each share of Lumos’ common stock. That price represents an 18.2 percent premium on the closing price of $15.23 on Feb. 17. The offer price also is a 34.9 percent premium on the volume-weighted price average for the last 12 months. “We are excited about the opportunity to acquire Lumos Networks, having been impressed by the company’s strategic vision and execution since it became a public company in 2011,” Jan Vesely, director at EQT partners, said in a statement. “We look forward to working collaboratively with Lumos Networks’ team and to drawing upon EQT’s deep expertise in the telecommunications and fiber sector in support of the company’s growth and expansion.” The agreement has been approved by boardsof directors. Completion of the transaction, which is subject to shareholder approval, regulatory approval and other customary closing conditions, is expected during the third quarter of 2017. Wells Fargo Securities, LLC and UBS Investment Bank served as co-financial advisers to Lumos Networks in connection with the transaction. Troutman Sanders LLP and Lawler, Metzger, Keeny and Logan, LLC served as legal counsel for Lumos. Morgan Stanley & Co. LLC acted as exclusive financial adviser to EQT Infrastructure, and Simpson Thacher & Bartlett LLP and Morgan, Lewis, & Bockius LLP served as legal advisers to EQT Infrastructure. EQT is a an alternative investments firm with portfolio companies in Europe, Asia and the U.S. 2017-02-20T20:50:00+00:00 http://www.virginiabusiness.com/news/article/berkeley-oaks-memory-care-community-in-williamsburg-opens-in-april Berkeley Oaks memory care community in Williamsburg opens in April http://www.virginiabusiness.com/news/article/berkeley-oaks-memory-care-community-in-williamsburg-opens-in-april http://www.virginiabusiness.com/news/article/berkeley-oaks-memory-care-community-in-williamsburg-opens-in-april#When:16:24:00Z Berkeley Oaks memory care community in Williamsburg is set to open in early April. Managed by New Jersey-based Solvere Senior Living, the community will offer 48 memory care apartments, in three home-like, separate detached cottages of 10,000 square feet each. The project at 1807 Jamestown Road will be open for public tours on Wednesday Feb. 22 from 1 to 3 p.m. or 5 to 7 p.m. Each of the one-story cottages will have 16 private studio residences with private bath and shower, and shared living spaces, including family-style dining and an adjacent living room with fireplace. The community will offer Solvere’s proprietary memory care program, which focuses on wellness initiatives for those with memory impairments. Berkeley Oaks’ amenities include a courtyard, beauty and barber salon, library and activity room, a concierge, housekeeping, 24-hour security; transportation and interior and exterior maintenance. The majority owner of the The Berkeley Oaks memory care community is WM Daugherty & Co. LLC through WMD Jamestown Members LLC. It led by William M. Daugherty.  Since its inception in 1998, WM Daugherty & Co., has focused on the management of investments in real estate and related debt directly for Daugherty and, through its WMD Asset Management affiliate, a host of pension, endowment and high net worth family offices. 2017-02-20T16:24:00+00:00 http://www.virginiabusiness.com/uploads2/RiverView_Ballroom.jpg Riverview Ballroom courtesy Gaylor National Resort and Convention Center http://www.virginiabusiness.com/news/article/gaylord-national-resort-expanding-its-ballroom Gaylord National Resort expanding its ballroom http://www.virginiabusiness.com/news/article/gaylord-national-resort-expanding-its-ballroom http://www.virginiabusiness.com/news/article/gaylord-national-resort-expanding-its-ballroom#When:16:20:00Z Gaylord National Resort and Convention Center is well along on a $25 million expansion of its ballroom, which is scheduled to open in May. The freestanding, waterfront ballroom offers 16,000 square feet of meeting space and floor-to-ceiling windows that showcase views of the Potomac River  and Old Town Alexandria.  It is located in the National Harbor mixed-use development in Prince Georges County, Md., just a few miles away from Northern Virginia and Washington, D.C. “The design of Riverview Ballroom has exceeded our expectations,” Doug Ridge, area general manager of Gaylord National Resort, said in a statement. “We have seen a positive response from our customers and believe this venue will be a premier location for upscale events in the Capital Region.” RiverView Ballroom also will offer 10,000 square feet of outdoor event space to maximize its waterfront location. Gaylord National is working with BLUR Workshop in Atlanta to complete the ballroom’s architectural and interior design. The Gaylord National Resort and Convention Center is the largest, non-gaming hotel and convention center on the East Coast, located along the banks of the Potomac River in National Harbor. Opened in April 2008, the center has 2,000 rooms and more than 500,000 square-feet of meeting and convention space. It's located in the same development as MGM's National Harbor casino and resort, which opened in December. 2017-02-20T16:20:00+00:00 http://www.virginiabusiness.com/news/article/cushman-wakefield-thalhimer-reports-transactions-of-nearly-300000-square-fe Cushman & Wakefield | Thalhimer reports transactions of nearly 300,000 square feet in Hampton Roads http://www.virginiabusiness.com/news/article/cushman-wakefield-thalhimer-reports-transactions-of-nearly-300000-square-fe http://www.virginiabusiness.com/news/article/cushman-wakefield-thalhimer-reports-transactions-of-nearly-300000-square-fe#When:15:40:00Z Cushman & Wakefield | Thalhimer reports recent lease transactions of nearly 300,000 square feet in the Hampton Roads area. The largest transaction was for Newport News Industrial Corp., which renewed its lease of 153,890 square feet at 11850 Jefferson Ave. in Newport News. Dawn F. Griggs handled the lease negotiations. In other transactions: The Treated Lumber Outlet of Virginia LLC leased 41,052 square feet at 5501 City Line Road in Newport News. Clay Culbreth handled the lease negotiations. Aireco Supply leased 20,973 square feet at 1349 Ingleside Road in Norfolk. Geoff Poston handled lease negotiations on behalf of the landlord. Rummel, Klepper & Kahl LLP renewed a 11,024-square-foot lease in Reflections IV at 2901 S. Lynnhaven Road. in Virginia Beach. John P. Duffy, Jr. handled the lease negotiations. 2017-02-20T15:40:00+00:00 http://www.virginiabusiness.com/companies/article/jll-adds-two-new-brokers-to-richmond-office JLL adds two new brokers to Richmond office http://www.virginiabusiness.com/companies/article/jll-adds-two-new-brokers-to-richmond-office http://www.virginiabusiness.com/companies/article/jll-adds-two-new-brokers-to-richmond-office#When:15:38:00Z JLL has added two brokers to the firm’s Richmond office. They are Sharon Bragg, a vice president from JLL’s Tampa office and Muscoe Garnett, vice president, who comes to JLL from a Richmond-based commercial real estate firm. Bragg will focus primarily on retail and office leasing.  She transferred from Tampa where she started her JLL career in 2010.  In Tampa, Bragg focused on office agency leasing efforts of nearly 1.5 million square feet. Before joining JLL, she worked for Crescent Resources, an owner/developer, to build, lease and manage a trophy Class A office portfolio. Her experience also includes customer-service focused positions and hospitality management, specifically opening new restaurants. Garnett will focus on office and industrial tenant representation. He joins JLL with more than 15 years of commercial real estate experience, 10 of which have been spent in Richmond. According to JLL, the majority of his career has focused on working with corporate users. Previously, he was an account manager in the Corporate Solutions Group at Colliers International. 2017-02-20T15:38:00+00:00 http://www.virginiabusiness.com/news/article/bank-merger-chooses-skyline-bank-for-new-brand Bank merger chooses Skyline Bank for new brand http://www.virginiabusiness.com/news/article/bank-merger-chooses-skyline-bank-for-new-brand http://www.virginiabusiness.com/news/article/bank-merger-chooses-skyline-bank-for-new-brand#When:10:07:00Z The resulting merger of Grayson National Bank and the Bank of Floyd has announced its new unified brand of Skyline National Bank. The new brand will be effective March 13. Under the parent company of Floyd- based Parkway Acquisition Corp., Skyline National Bank will serve southwestern Virginia and northwestern North Carolina with 17 branches, total assets of more than $550 million, deposits of $500 million, and shareholders' equity of $55 million. 2017-02-20T10:07:00+00:00 http://www.virginiabusiness.com/opinion/article/3-secrets-to-making-your-business-more-sellable 3 Secrets to making your business more sellable http://www.virginiabusiness.com/opinion/article/3-secrets-to-making-your-business-more-sellable http://www.virginiabusiness.com/opinion/article/3-secrets-to-making-your-business-more-sellable#When:17:00:00Z One of the challenges that we often face is correlating value to “sellability.”  In many cases a business may have value to the owner, but there may be a very limited market for the company.  (In fact, this notion is the basis of the concept of a Discount for Marketability.) For example, a small, three-person company with a single, working owner may generate significant value for the owner. But that same business might not have significant conveyable value to a buyer. Consider this:  BizBuySell.com releases an annual survey of businesses sold. According to its Insights Report, “annual small business transactions reached record levels in 2016, topping 2015's totals by 8.6 percent and 2014's previous high by 4.6 percent,” totaling 7,842 completed deals. The site reports that they have approximately 45,000 businesses for sale, meaning a mere 16 percent of those listed were sold.   Clearly there is an issue of sellability here.  What is a business owner to do? 1. Understand (and mitigate) risk One of the biggest reasons we see for businesses having difficulty converting value in a business to an actual sale is the risk profile of the business. Buyers are nothing if not risk averse. While you may in principle agree on a purchase price early in the process, expect that a nervous buyer will hem and haw as due diligence progresses.  (By the way — experienced M&A folks will tell you that the purchase price never goes up after the letter of intent. It only goes down). So how does a smart business owner mitigate risk? This is actually a critical area that your business valuation expert can help you navigate. By identifying and mitigating risk factors early, you can help increase the confidence your buyer has in the transaction. 2. Prepare for a smooth transition Hand in hand with the buyer’s risk perception is his or her lack of clarity on what happens post-closing. What’s going to happen when you hand over the keys? Who’s in charge? Who opens the building? Where are sales coming from? As a seller you can mitigate these concerns by 1) replacing yourself as a critical piece of the business and 2) providing a lengthy, well considered transition out of your business.  A seller should consider hiring a replacement to take some of the workload off themselves.  Not only does this improve your quality of life, but also lessens the dependence that the business has on you personally.  Further, by working at the company post-closing until your replacement is settled in, you can help maintain a level of continuity. 3. Structure the deal Did you know that most deals aren’t all cash at closing?  In my previous role as an M&A adviser, it was common to see well over half of deals having some portion of the purchase price paid post-closing and contingent on future performance.  (These structures are often referred to as “earn outs”).  So why should you be smart about deal structure?  Simple: ● Get the deal done.  You want to sell the company, right?  Being inflexible on structure is the perfect recipe for killing a deal. ● Get paid more.  Want an all-cash deal?  Expect the buyer to price in risk and pay less.  Much less.  But if you want to get paid for future growth and performance, well, an earn out is just the ticket. It’s not enough to simply “list” a business for sale. Selling a business is hard work, and a business is not sellable without establishing a process to do so. Business owners who are truly successful in achieving an exit — and maximizing the value for their business —  are proactive about exit planning and deal structuring. About the Author Dan Doran, CVA is the founder and principal of Quantive Business Valuations, a certified valuation practice serving privately held businesses nationwide. Learn more at quantivevaluations.com. 2017-02-17T17:00:00+00:00 http://www.virginiabusiness.com/uploads2/Riverfront_Plaza_26.jpg Riverfront Plaza courtesy of CBRE|Richmond http://www.virginiabusiness.com/news/article/owens-minor-announces-new-customer-service-operation-in-downtown-richmond Owens & Minor announces new customer service operation in downtown Richmond http://www.virginiabusiness.com/news/article/owens-minor-announces-new-customer-service-operation-in-downtown-richmond http://www.virginiabusiness.com/news/article/owens-minor-announces-new-customer-service-operation-in-downtown-richmond#When:22:18:00Z   Owens & Minor, a Fortune 500 health-care services company based in Hanover County and one of the region’s oldest employers, is expanding to downtown Richmond. The company said it would make a multiyear, multimillion-dollar investment to establish a new client engagement center in 90,000 square feet at Riverfront Plaza. Richmond competed against 60 other cities around the country, including Nashville, Tenn., and Salt Lake City, Utah, to win the project and the prize: the creation of 300 new jobs and the retention of 200 that would have left the region. “Virginia has been the home of Owens & Minor for 135 years, and we are very pleased to expand our presence in Richmond with this new initiative. This project will support our plan to build the most efficient and intelligent route to market for health-care products and supplies,” Cody Phipps, the president and CEO of Owens & Minor, said in a statement. “The downtown Client Engagement Center will support standardization and enhanced service to our nationwide customers, who are asking for our assistance in adapting to a changing healthcare market.” According to Phipps, the center will provide a scalable platform for future growth, as well as higher levels of service to customers. It will be a shared-services facility, where the company will co-locate teams that perform functions such as customer service, purchasing and financial operations.  Currently, employees who perform these functions are spread across the company’s 40-plus distribution centers all over the U.S.  The search for the center, known as “Project Engage,” began in May 2016. That’s when Jason Hickey and Jason Rancadore of Hickey & Associates, a site selection firm with offices throughout the world, contacted the Greater Richmond Partnership, a regional economic development organization. The partnership said Hickey described the project as a “high-touch customer service operation related to the health-care industry …” After working on the project, local officials said, it became clear that the company was Owens & Minor, a major firm in their own backyard. During the site location process, the partnership encouraged project managers to evaluate the region with the same metrics and standards as competitor cities. “It was important for the site selectors and company representatives to see Richmond with a fresh pair of eyes,” said Bethany Miller, vice president of business development at the partnership. “We encouraged them to tour the region and meet with companies, as they had with competitor locations, and to explore how the region has progressed. Looking at things from a new perspective really made a difference.” Barry Matherly, president/CEO of the partnership, said that a program created four years ago to strengthen relationships with national site selection consultants also helped. “Over the last year, more than $80 million in capital investment and 500 jobs have been brought to us from consultants, proving that these valuable relationships are paying off,” he said. During an announcement of the project Thursday with Gov. Terry McAuliffe, Richmond Mayor Levar Stoney welcomed Owen & Minor’s decision to expand at home. “Their decision is a testimony to their confidence in the quality of our local workforce and commitment to the region.” Secretary of Commerce and Trade Todd Haymore noted that the state’s health-care industry employs nearly 400,000 people. “Owens & Minor is a valued employer that contributes to that growing number.’’ The company was founded in 1882 in Richmond and has been headquartered in the area ever since. The great-grandson of the company’s founder, G. Gilmer Minor, III, lives in Richmond and is chairman emeritus of the company. Owens & Minor has annual revenues of more than $9 billion and employs more than 8,000 people across the U.S., Europe, and in Asia. Richmond’s Office of Community Wealth Building and Workforce Development worked with Owens & Minor to develop training programs for the new jobs. The partnership also worked with the city’s economic development department and the Virginia Economic Development Partnership on the project. McAuliffe approved a $1.5 million grant from the Commonwealth Opportunity Fund to assist the Owens & Minor, which is eligible to receive benefits from the Virginia Enterprise Zone Program. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. David Wilkins, Trib Sutton and Matt Anderson of CBRE Richmond negotiated the lease for Riverfront Plaza’s landlord, Hertz Investment Group. According to CBRE, Riverfront Plaza at 951 East Byrd St. is about 85 percent leased. The building has about 951,900 square feet in two 20-story towers. 2017-02-16T22:18:00+00:00 http://www.virginiabusiness.com/opinion/article/cybersecurity-legislation-may-do-more-harm-than-good Cybersecurity legislation may do more harm than good http://www.virginiabusiness.com/opinion/article/cybersecurity-legislation-may-do-more-harm-than-good http://www.virginiabusiness.com/opinion/article/cybersecurity-legislation-may-do-more-harm-than-good#When:16:39:00Z A paramount concern for the commonwealth’s businesses — large and small — is cybersecurity. During the current session of the General Assembly, state Sen. Glen Sturtevant proposed an update to Virginia’s cyber crime statute. The amendment would have made it a felony for cyber criminals to use ransomware. This was a worthwhile bill considering the explosion of ransomware crimes during the past year, which can hit Virginia’s small businesses hard. Although the legislature jettisoned the bill this session, it is a sign that Virginia lawmakers are beginning to seriously consider regulations in the area of cybersecurity. However, we urge caution. Cybersecurity laws are quickly becoming complex and fragmented as more and more are being passed around the country and at the federal level. In addition, governmental agencies also issue guidance on what each expects from businesses they regulate, such as the Securities and Exchange Commission (SEC). Finally, there are even private regulations that can impose cybersecurity requirements on Virginia’s business community. This jumble of laws, regulations and rules are making it increasingly difficult for businesses to comply without an undue burden. For example, approximately 48 states and the District of Columbia have separate cyber-breach notification laws. Lawmakers should move cautiously in proposing any cybersecurity regulations in Virginia to avoid further confusion and the creation of  “just another cybersecurity requirement.”  It is critical that states work together to bring uniformity to their respective cybersecurity laws. The National Governors Association has the ability to take the lead on this issue, and we urge it to do so. Lawmakers should proceed with great care before adopting new cybersecurity rules.  Technology and the associated threat landscape is rapidly evolving. “Ransomware,” for example, is a relatively recent addition to the cybersecurity lexicon. Legislation that is excessively prescriptive may find itself obsolete or emphasizing risks of yesteryear. Effective regulations are principle-based, specifying outcomes, rather than targeting, specifying methods of action.   For example, a requirement to operate anti-virus software on users’ computers does not adequately address the ransomware risk, and a requirement to protect email alone does not address the many new ways companies use technology to communicate internally and externally. Regulations also should respect a business’s right to make informed, risk-based decisions about what behaviors to allow, what protections to implement and how to implement them. After all, there is no such thing as “perfect security,” and risk acceptance in favor of convenience has always been a key element of cybersecurity. For example, nearly all businesses use email despite it being the favored attack vector for most cyber criminals because of the incredible difficultly of protecting users from ransomware, phishing campaigns, wire fraud and other scams. Further, no two businesses are the same, and cybersecurity needs vary from one company to the next based on size, geographical footprint and industry sector.  For instance, a small landscaping company probably does not need an enterprise-grade intrusion detection system.  However, a cloud-based service platform which processes large volumes of sensitive data should be able to rapidly detect network intrusions.  One size fits all legislation will not work for Virginia’s business community in terms of mandating proactive steps companies must take to defend against cyber threats. Legislators also should be wary of who is providing advice to them.  Large businesses are known to favor regulations that make it difficult for smaller competitors to grow.  Technologies that transform business, democratize speech  and change the way we communicate all started small.  Uber, for example, saves lives each year by making it incredibly convenient for revelers to find a safe ride home.  Overloading young organizations with burdensome requirements may stifle the innovation that is improving the world. Virginia must be a place that encourages innovation, rather than smothers it. In many respects, the General Assembly should focus on instituting some basic and uniform legislation to protect victims of a data breach. Technical, legal and regulatory landscapes, with respect to cybersecurity, are evolving incredibly fast.  Due to this complexity and pace, well-intentioned but ultimately ill-conceived regulations have the potential to do more harm than good. Businesses and their trade associations are in a far better position to address these issues in real-time. However, it is incumbent that they do so now, and demonstrate to lawmakers that they are taking action to protect their business and industry customers. If they do not, they can be sure that legislators will step into the breach with mandates. Should the commonwealth proceed to implement regulations, we recommend that it does so with extreme care. Christopher Moschella is a manager with Keiter’s Risk Advisory Services focusing on cybersecurity.  He can be reached at 804-419-2902 or cmoschella@keitercpa.com. Collin Hite is the practice leader of Hirschler Fleischer’s Data Privacy & Security Group. He can be reached at 804-771-9595 or chite@hf-law.com 2017-02-16T16:39:00+00:00 http://www.virginiabusiness.com/news/article/global-guardian-to-expand-in-fairfax Global Guardian to expand in Fairfax http://www.virginiabusiness.com/news/article/global-guardian-to-expand-in-fairfax http://www.virginiabusiness.com/news/article/global-guardian-to-expand-in-fairfax#When:10:06:00Z Global Guardian announced Wednesday it would expand its corporate headquarters in Tysons. The security and risk-management firm will spend $1.3 million to add office space and new technology to its operations center. The project will create 22 jobs. Global Guardian provides security services to help clients mitigate the risks of traveling and doing business overseas and domestically. Services include personnel tracking, emergency response, security and transportation support, intelligence, medical support and transportation, emergency aviation, cybersecurity and video surveillance. The company recently acquired Air Ambulance Card LLC, a Birmingham, Ala.-based firm offering medical evacuation services. “There are countless opportunities for a company with our capabilities, and the local market is filled with motivated and talented people that have real-world experience in security, government, and international business,” Global Guardian CEO Dale Buckner said in a statement. Global Guardian will receive support from the Virginia Jobs Investment Program. 2017-02-16T10:06:00+00:00 http://www.virginiabusiness.com/news/article/woods-rogers-pledges-50000-to-accelerator Woods Rogers pledges $50,000 to accelerator http://www.virginiabusiness.com/news/article/woods-rogers-pledges-50000-to-accelerator http://www.virginiabusiness.com/news/article/woods-rogers-pledges-50000-to-accelerator#When:01:33:00Z The law firm Wood Rogers PLC plans to donate $50,000 to the Virginia Western Community College Educational Foundation to support a technology business accelerator opening in downtown Roanoke. Under a five-year agreement with the foundation, Woods Rogers will contribute $10,000 per year to the RAMP accelerator from this year to 2021. RAMP stands for Regional Acceleration and Mentoring Program. It will be located in the former Gill Memorial Hospital building at 709 S. Jefferson St. RAMP’s mission is to help high-potential startups expand and create jobs in the STEM-H fields (science, technology, engineering, mathematics and health). In addition to the law firm, other partners in the initiative include the city of Roanoke, which won a state grant to complete renovations on the Gill Memorial site; and the Roanoke-Blacksburg Technology Council, which will recruit RAMP participants and provide them mentorship and networking opportunities.   RAMP is accepting applicants for its first participant teams through March 15 (see http://www.ramprb.tech). The program is expected to start in June. RAMP participants will participate in a mentoring program, networking opportunities and business education and have access to capital. The inaugural program includes  an intensive “boot camp” that culminates in a  $5,000 prize for the accelerator company offering the best jobs-creation strategy. 2017-02-16T01:33:00+00:00 http://www.virginiabusiness.com/companies/article/reed-smith-names-managing-partner-for-its-richmond-office Reed Smith names managing partner for its Richmond office http://www.virginiabusiness.com/companies/article/reed-smith-names-managing-partner-for-its-richmond-office http://www.virginiabusiness.com/companies/article/reed-smith-names-managing-partner-for-its-richmond-office#When:22:22:00Z Reed Smith LLP has named Edward A. Mullen as the law firm’s managing partner of the Richmond office. Mullen succeeds S. Miles Dumville, who served as office managing partner since 2013. Dumville will continue his commercial litigation practice. A graduate of the University of Virginia School of Law, Mullen joined Reed Smith in 2008 after serving as a senior aide to then-Gov. Mark Warner. He is a partner in the firm’s government affairs and administrative law practice. His practice focuses on legislative and administrative matters before the Virginia General Assembly, the Virginia congressional delegation, and the Offices of the Governor and Attorney General along with executive branch agencies. In addition to his law practice, Mullen is an adjunct professor at the University of Virginia School of Law, teaching a course in legislative drafting and statutory interpretation. 2017-02-15T22:22:00+00:00 http://www.virginiabusiness.com/news/article/combined-it-services-company-will-be-called-dxc-technology Combined IT services company will be called DXC Technology http://www.virginiabusiness.com/news/article/combined-it-services-company-will-be-called-dxc-technology http://www.virginiabusiness.com/news/article/combined-it-services-company-will-be-called-dxc-technology#When:21:38:00Z A proposed merger of Computer Sciences Corp. (CSC) and the enterprise services business of Hewlett Packard Enterprise (HPE) will be called DXC Technology. The new name is expected to take effect on April 3 with the conclusion of the merger. The merger, announced last May, would create an IT services company with $26 billion in annual revenue and nearly 6,000 customers in more than 70 countries. The new company plans to be listed on the New York Stock Exchange under ticker symbol “DXC.” Mike Lawrie, CSC’s chairman, president and CEO, will hold the same titles with DXC Technology. Until the completion of the merger, the two companies will continue to operate under their current leadership structures as separate organizations. CSC said all necessary regulatory clearances for the merger have secured and the SEC registration process is ongoing. 2017-02-15T21:38:00+00:00 http://www.virginiabusiness.com/uploads2/The_River_Tower_at_Harbors_Edge1.jpg Rendering of the new River Tower at Harbors Edge, Norfolk http://www.virginiabusiness.com/news/article/harbors-edge-norfolk-retirement-community-to-add-another-tower Harbor’s Edge Norfolk retirement community to add another tower http://www.virginiabusiness.com/news/article/harbors-edge-norfolk-retirement-community-to-add-another-tower http://www.virginiabusiness.com/news/article/harbors-edge-norfolk-retirement-community-to-add-another-tower#When:20:22:00Z Editor's note: This story has been updated.   The developer of Harbor’s Edge retirement community in Norfolk plans to add a 27-story tower. Like the existing 17-story tower, the new River Tower would offer residential living, assisted living, memory support and skilled nursing as part of its program. Harbor’s Edge said it is moving forward with expansion plans because it has received more than 100 reservations for new residences. Financing and construction will occur when the company reaches 70 percent in presales, with the best estimate being summer of 2018 for a construction start with the opening two years later in 2020. The new $165 million, 643,900-square-foot tower will add 138 luxury residences, all with views of the downtown skyline and Elizabeth River. “When originally conceived, Harbor’s Edge was always planned to be two towers integrated by common areas and terraces that would create a one community feeling while maintaining a sense of privacy for its residents,” C.A. Neil Volder III, the project’s developer and founder, said in a statement. The project would have to go through Norfolk's design review procedure, but it conforms to the site's zoning classification. Amenities being planned for the new residences include four dining venues, a heated pool, spa and salon, a fitness center with personal training, wellness programs, transportation to cultural events and sporting venues, 24-hour security, as well as total maintenance and weekly housekeeping. More than 95,000 square feet of additional common space would include a ballroom and movie theater. An existing parking garage also would be expanded to allow for additional residents and guests. The architect for the project will be three: living architecture, a boutique architectural firm based in Dallas that specializes in luxury hospitality and senior living projects Robbie B. Smith, chief operating officer of Harbor’s Edge, said the company’s services begin before residents move in.  “Our in-house consultants and interior designers assist residents with furniture placement and interior design to make the move effortless. We are also making significant enhancements to the existing residences and common areas …” Harbor’s Edge is governed by a voluntary board of directors and is a not-for-profit resident-centered community. 2017-02-15T20:22:00+00:00 http://www.virginiabusiness.com/uploads2/BAR.jpg Hardywood's new taproom has capacity for 150 people. | Kate Magee photo http://www.virginiabusiness.com/news/article/hardywood-holding-grand-opening-saturday-for-charlottesville-brewery Hardywood holding grand opening Saturday for Charlottesville brewery http://www.virginiabusiness.com/news/article/hardywood-holding-grand-opening-saturday-for-charlottesville-brewery http://www.virginiabusiness.com/news/article/hardywood-holding-grand-opening-saturday-for-charlottesville-brewery#When:11:00:00Z Richmond-based Hardywood Park & Craft Brewery is holding a grand opening celebration for its new Charlottesville brewery Saturday, Feb. 18 from 12-10 p.m.  The Charlottesville brewery, located at 1000 W. Main St., is Hardywood’s second location. The company also has a brewery in Richmond, established in 2011, and next year, it plans to open a $28 million campus in Goochland. Hardywood’s 3,600-square-foot space in Charlottesville houses a 150-capacity taproom, which includes an outdoor patio. The location features a 3.5-barrel Premier Stainless brewhouse that will be visible behind the main bar, so guests can watch the brewing process. Pilot beer recipes will be served at the Charlottesville location, and popular recipes will be considered for wider production. Kevin Storm, who joined the company in 2014, will serve as the Charlottesville Lead Brewer. The Charlottesville taproom will be open Tuesday-Sunday from 12-10 p.m. 2017-02-15T11:00:00+00:00 http://www.virginiabusiness.com/news/article/house-panel-rejects-redistricting-reform-bills House panel rejects redistricting reform bills http://www.virginiabusiness.com/news/article/house-panel-rejects-redistricting-reform-bills http://www.virginiabusiness.com/news/article/house-panel-rejects-redistricting-reform-bills#When:10:29:00Z Republicans on a House subcommittee killed three redistricting reform bills Tuesday that advocates had hoped would curtail gerrymandering in Virginia. At a 7 a.m. meeting, the Elections Subcommittee of the House Privileges and Elections Committee voted 5-2 that each proposal be “passed by indefinitely,” effectively ensuring that the issue is dead for the legislative session. More than 50 supporters of OneVirginia2021, which advocates for nonpartisan redistricting, attended the subcommittee’s meeting. The crowd murmured its displeasure when the panel voted against the measures, and one woman shouted “Shameful!” Democrats also were disappointed. “There ought to be a full House vote on these bills,” said House Minority Leader David Toscano of Charlottesville. “They’re so important they shouldn’t be bottled up in a small subcommittee with a very small number of people making big decisions on big issues.” The House Elections Subcommittee considered three measures that had passed the Senate with Republican support last week: ●  SJ 290, a constitutional amendment that states, “No electoral district shall be drawn for the purpose of favoring or disfavoring any political party, incumbent legislator or member of Congress, or other individual or entity.” It was sponsored by Sens. Jill Vogel, R-Winchester, and Janet Howell, D-Reston. ● SJ 231, a constitutional amendment that would create an independent commission to redraw legislative and congressional districts after each census. It was sponsored by a group of Republicans and Democrats. ● SB 846, a bill requiring Virginia to use an independent commission if a court declares a legislative or congressional district unlawful or unconstitutional. It was sponsored by Sen. Louise Lucas, D-Portsmouth. The five Republicans on the Elections Subcommittee voted to kill the proposals. They are Dels. Les Adams of Pittsylvania, Mark Cole of Spotsylvania, Buddy Fowler of Hanover, Chris Jones of Suffolk and Margaret Ransone of Westmoreland. The two Democrats on the subcommittee – Dels. Mark Sickles of Fairfax and Luke Torian of Prince William – voted to keep the redistricting bills alive. Howell urged the subcommittee to support the amendment that she introduced with her Republican colleague, Vogel. “Gerrymandering is undercutting our representative form of government. It’s making the public feel disenfranchised, and it’s polarizing unnecessarily our political system,” Howell said. “We will keep coming back until you see the wisdom in our amendment.” Cole, who chairs the Elections Subcommittee, questioned whether the amendment would be necessary until 2021, the next time the General Assembly is scheduled to redraw legislative and congressional districts. Cole said the General Assembly should delay considering the issue because pending court cases could change the redistricting laws before the amendment is enacted. District lines in Virginia are redrawn every 10 years following the U.S. Census. The Virginia Constitution requires that districts be composed of “contiguous and compact territory” and fairly represent the population. Critics of the system have argued that the process is used for political gain and has been corrupted by partisanship. SJ 231 – proposed by Republican Sens. Emmett Hanger of Augusta and Glen Sturtevant of Chesterfield and Democratic Sens. Creigh Deeds of Bath and Lynwood Lewis of Accomack – attempted to take the power to draw districts away from politicians and give it to an independent, bipartisan commission. The seven-member commission would have been composed of two nominations from Republican leaders, two nominations from Democratic leaders, the auditor of public accounts, the state inspector general, and the executive director of the Virginia State Bar. Republicans on the Elections Subcommittee criticized the proposed amendment, saying it would not solve the problem of partisanship in redistricting because most members of the commission would be appointed by party leaders. Sickles, who supported SJ 231 and the other redistricting proposals, complained of his Republican colleagues: “I think the majority opinion up here is that you can’t take the politics out of this.” Although he voted to kill all three of the redistricting reform measures before the subcommittee, Fowler said he won’t support political gerrymandering in 2021. “If I am around, my commitment is to come up with a redistricting bill that is not gerrymandered with respect to political party as the primary goal,” Fowler said. Eight redistricting reform bills introduced by House members died earlier in the session. They never made it out of committee. 2017-02-15T10:29:00+00:00 http://www.virginiabusiness.com/uploads2/Dominion_solar_panels.jpg Solar panels in Powhatan County http://www.virginiabusiness.com/news/article/dominion-says-solar-investment-reaches-800-million Dominion says solar investment reaches $800 million http://www.virginiabusiness.com/news/article/dominion-says-solar-investment-reaches-800-million http://www.virginiabusiness.com/news/article/dominion-says-solar-investment-reaches-800-million#When:21:55:00Z Dominion said Tuesday that it is investing more than $800 million in solar power in Virginia, with much of the generation being built at little or no cost to most customers. "Our company has made a major commitment to develop significant blocks of solar generation to meet customers' energy needs going forward," Paul Koonce, CEO of Power Generation at Dominion Energy, said in a statement. "… The cost of energy powered by the sun is coming down, and we are working hard to develop projects in new and economical ways for our customers." According to Dominion, some 398 megawatts of solar generation have either been completed or are under development throughout much of Virginia – enough to power 100,000 homes. The energy company said most of the development and construction costs will be borne by specific contractual customers such as large business and government. In February 2015, Dominion committed to developing 400 megawatts of large-scale solar generation facilities in Virginia and placing them in service by 2020. Additionally, legislation passed by the Virginia General Assembly in 2015 found that development by Virginia utilities of up to 500 megawatts of solar projects in the state was "in the public interest."  "We are well ahead of schedule on the solar expansion and what we have added so far will have a very minimal impact on the price of electricity for the 2.5 million regulated customers we serve in Virginia," Koonce said. The Corporate Clean Energy Procurement Index, in partnership with the Retail Industry Leaders Association and the Information Technology Council, recently ranked Virginia among the top 20 states for solar power and in the top three for utility clean energy purchasing options.That ranking moves Virginia up considerably in national rankings compared to a few years ago when the state had little solar power installed, but it hasn’t cracked a top 10 list yet. The Solar Energy Industries Association ranked the top 10 states based on cumulative solar capacity installed as of December 2015, and California topped the list. California has 13,241 megawatts, enough to power more than 3 million homes. The No. 10 ranked state, Texas, has installed 534 megawatts, or enough to power 57,000 homes, according to the SEIA’s survey. In Virginia, Dominion said that more than 80 percent of the cost of the solar facilities is being covered by large business and government customers, including the Commonwealth of Virginia and the University of Virginia, who signed long-term contracts with Dominion to develop the generation. In addition to building larger solar-powered units, Dominion's Solar Partnership Program has placed company-owned solar panels on leased rooftops and grounds of government and business properties throughout its Virginia service area. Ten of these facilities have been installed at sites including Canon in Gloucester, Old Dominion University in Norfolk and Capital One in Chester. The commonwealth's commitment to 500 megawatts of large-scale solar development by 2020 was included in Senate Bill 1349, passed by the General Assembly in February 2015. SB 1349 froze the company's base rates – making up about 60 percent of the typical residential bill – at 2015 levels for five years. Dominion said this legislation helped provide price stability for customers as the company deals with federal air quality regulations, including those limiting power station carbon dioxide emissions.  President Trump has said he will work to overturn regulations under the Clean Power Plan pushed by President Barack Obama’s administration. The changing energy environment prompted a move by  Sen. J. Chapman Peterson, D-Fairfax County, during this year’s General Assembly session to overturn the controversial utility rate freeze on base rates, saying it is no longer needed. The bill would have resumed rate reviews by the State Corporation Commission, which Peterson said would have brought millions in refunds for customers.The bill died in the Senate’s Labor and Commerce Committee. Last week Gov. Terry McAuliffe belatedly came out in support of legislation to end the rate freeze that guarantees profits for Dominion Virginia Power and Appalachian Power in exchange for their commitments to invest millions of dollars in new solar power facilities. SB 1349 also directed utilities to provide more assistance to low income, elderly and disabled customers. In response, Dominion expanded EnergyShare, committing $57 million in additional funding for EnergyShare over five years. The company said more than 20,000 families and individuals have received assistance since the expanded program began in September 2015. 2017-02-14T21:55:00+00:00 http://www.virginiabusiness.com/companies/article/law-firm-names-lead-of-its-richmond-office Law firm names managing partner at its Richmond office http://www.virginiabusiness.com/companies/article/law-firm-names-lead-of-its-richmond-office http://www.virginiabusiness.com/companies/article/law-firm-names-lead-of-its-richmond-office#When:21:48:00Z Robert L. Wise has been named managing partner of the Richmond office of the law firm Bowman and Brooke. He is a founding partner of Bowman and Brooke’s appellate and advanced-motions practice. Wise has served as appellate counsel in several high-profile class and mass actions, including in ongoing alleged football-concussion-injury litigation, nationwide automotive and vehicle putative class actions, and medical-device class and mass actions, coordinating the briefing and legal-issues strategy for those cases. Wise received his law degree from the University of Richmond. Bowman and Brooke has offices in Minneapolis, Phoenix, Detroit, Los Angeles, Richmond, Dallas, San Diego, Miami, Orlando, Austin, Texas; San Jose, Calif. and Columbia, S.C. 2017-02-14T21:48:00+00:00 http://www.virginiabusiness.com/news/article/meridian-group-closes-second-real-estate-fund-of-231-million Meridian Group closes second real estate fund of $231 million http://www.virginiabusiness.com/news/article/meridian-group-closes-second-real-estate-fund-of-231-million http://www.virginiabusiness.com/news/article/meridian-group-closes-second-real-estate-fund-of-231-million#When:20:36:00Z The Meridian Group, which invests exclusively in the Washington, D.C., market, has closed its second fund, Meridian Realty Partners II LP, with $231.6 million raised from institutional investors. Meridian said it also raised and invested an additional $80 million of co-investment capital in Fund II transactions to date. The Bethesda, Md.-based real estate and development firm said it expects to acquire properties totaling more than $1.5 billion for its new fund over the next several years. “These deals fit our value-add investment strategy very well, and we continue to be bullish on the D.C. real estate market,”  David Cheek, Meridian’s president, said in a statement. The company said its investment strategy is focused on well-located, institutional-quality assets near Metro stations, highways, and walkable amenities in submarkets such as D.C., Tysons, Arlington, Alexandria and Reston, and Bethesda and Rockville, Md.. “These are places where we can create value through repositioning, renovations, leasing, redevelopment, development and land entitlements,” said Bruce Lane, executive vice president and managing director of Meridian. Meridian already has completed five Fund II transactions totaling more than $400 million. They include: International Place, a 12-story office building at 1735 Lynn Street in the center of Rosslyn. The company is renovating and repositioning the 293,539-square-foot building.  1400 L Street, a 12-story Class A office building at the corner of L and 14th streets in Washington, D.C. Meridian is doing on a major renovation to the 172,453-square-foot building, located less than two blocks from the McPherson Square Metro station. 11111 Sunset Hills Road, a Class A office building in Reston. The 216,000-square-foot building is located near the Dulles Toll Road and the Wiehle-Reston East Metro station. Meridian’s first fund, Meridian Realty Partners I LP, raised more than $600 million for acquisitions and development projects. That fund is developing The Boro, a 3.5-million-square-foot, mixed-use development at Tysons near the Greensboro Metro station on the new Silver line. In September, Meridian broke ground on The Boro’s first phase, an $850 million project that will feature 1.7 million square feet of space. When complete, The Boro will consist of more than 1,500 residential units, 1.3 million square feet of office space, 400,000 square feet of retail space, and a new hotel. 2017-02-14T20:36:00+00:00 http://www.virginiabusiness.com/uploads2/000_32421.jpg Aerial view of WestMark Office Park courtesy Cushman & Wakefield | Thalhimer http://www.virginiabusiness.com/news/article/bridge-investment-groups-buys-westmark-office-park-in-henrico-county Bridge Investment Groups buys WestMark Office Park in Henrico County http://www.virginiabusiness.com/news/article/bridge-investment-groups-buys-westmark-office-park-in-henrico-county http://www.virginiabusiness.com/news/article/bridge-investment-groups-buys-westmark-office-park-in-henrico-county#When:03:31:00Z   Bridge Investment Group has purchased WestMark Office Park, a 416,311-square-foot, two-building office complex in Henrico County for an undisclosed price. Bridge acquired the Class A property with equity partner Mandalay-CRE Venture II from RER/New Boston West Broad LLC. According to Jeff Cooke, a senior vice president with Cushman & Wakefield | Thalhimer in Richmond, RER/New Boston has owned the building since 2004, when it purchased the complex from Capital One Financial Corp.   Thalhimer, in conjunction with Cushman & Wakefield’s Washington, D.C., Capital Markets Group,  represented RER/New Boston in the transaction. Through the years, the WestMark buildings have been the corporate home of some of Richmond’s largest employers including Capital One, MeadWestvaco and Altria. WestMark One has 211,689 square feet while WestMark Two has 204,662 square feet. Bridge Investment said the property will be renamed SunTrust Center when SunTrust takes occupancy of the entire WestMark One building later this year. “This acquisition is a great example of Bridge Investment’s  strategy of purchasing well-located, high-quality office properties and making strategic capital improvements to enhance the tenant experience and increase asset value,” Jeff Shaw, CEO of Bridge Commercial Real Estate, the office operating subsidiary of Bridge Investment Group, said  in a statement. Located on a 40-acre campus at 11000 West Broad Street within the Innsbrook office submarket, WestMark Office Park provides access to I-64, I-295, I-95 and Route 288. The property also gives tenants access to a many retail offerings, including the 1.2-million-square-foot Short Pump Town Center mall and 650,000-square-foot West Broad Village town center complex. Bridge Investment said it will invest in extensive renovations, including improvements to lobbies, common areas and the exterior façade. WestMark One will be 100% leased upon SunTrust’s occupancy. WestMark Two is currently 80% occupied.  With the acquisition, Bridge Investment Group LLC now owns 38 office properties in major U.S. office markets. In November, Bridge Investment Group of Salt Lake City, Utah, acquired Fairlead Commercial Real Estate of Atlanta, led by principals Jeff Shaw and John Ward, who are now both principals at Bridge Commercial Real Estate.  The privately held real estate investment management firm said it has $6.7 billion in assets under management. 2017-02-14T03:31:00+00:00 http://www.virginiabusiness.com/uploads2/Vint_Hill_background1.jpeg Aerial shot of Vint Hill Village Town Center courtesy of the Wainger Group. http://www.virginiabusiness.com/news/article/colliers-international-to-market-vint-hill-village-town-center Colliers International to market Vint Hill Village Town Center http://www.virginiabusiness.com/news/article/colliers-international-to-market-vint-hill-village-town-center http://www.virginiabusiness.com/news/article/colliers-international-to-market-vint-hill-village-town-center#When:15:39:00Z Colliers International has been retained as the exclusive agent to market the new phases of development for the Vint Hill Village Town Center, a mixed-use project in eastern Fauquier County. The 300-acre property at 4263 Aiken Drive in Vint Hill is owned by an institutional real estate investor, Vint Hill Village LLC, a collaborative venture led by Ed Moore and Devin Finan of Brookside Development and Lakeside Homes.  Vint Hill Village Town Center has attracted some significant business enterprises, including the U.S. headquarters of the French company OVH, the world’s third-largest cloud computing hosting company. Other tenants include the headquarters of the U.S. Federal Aviation Administration TRACON air traffic control facility, Old Bust Head Brewery, and a division of aviation and defense contractor Rockwell Collins. Scheduled to open in 2019 will be the 120-bed, $48 million Puller Veteran Care Center.  Vint Hill Village Town Center is accessible to Washington from I-66 and U.S. Route 29.  The property also is close to Washington Dulles International and Reagan National airports and the Virginia Inland Port. “Our mission is to complete the transformation of the former military intelligence base into the centerpiece of a vibrant, sustainable community that builds on what is already there from icons such as the Inn at Vint Hill to the surrounding existing neighborhoods and local retailers and businesses already well established,” Ed Moore of Vint Hill Village, said in a statement. Vint Hill was a sheep and cattle farm in the 1860s, the site of a number of Civil War engagements between Union and Confederate troops and a country estate in the early 1900s.  In 1942, the property was sold to the U.S. Army, which established a cryptology school and intelligence-gathering station. The facility intercepted encrypted enemy communications that helped lead to the success of the D-Day invasion in 1944. At one time, Vint Hill employed more than 2,000 people.  After the government base closed in 1997, The Vint Hill Economic Development Authority purchased the land, which originally totaled 700 acres, to transform the property into a community engine of economic growth. “In an area where land can still be acquired at reasonable prices, this asset promises both the location and the scenic countryside to attract employees, jobs, patrons, and visitors,” John Lesinski, a member of the Colliers team, said in statement. 2017-02-13T15:39:00+00:00 http://www.virginiabusiness.com/news/article/ace-hardware-will-expand-distribution-center-in-suffolk Ace Hardware will expand distribution center in Suffolk http://www.virginiabusiness.com/news/article/ace-hardware-will-expand-distribution-center-in-suffolk http://www.virginiabusiness.com/news/article/ace-hardware-will-expand-distribution-center-in-suffolk#When:21:53:00Z   Ace Hardware Corp. plans to expand an existing 336,000-square-foot distribution center in Suffolk by 138,000 square feet. The company said construction on the project is expected to begin in April. The target completion date is November. According to CenterPointe Properties, the property developer, the expansion will bring more than 70 construction jobs to the community. Lori Bossman, a spokesperson for Ace Hardware, said in a statement that “Ace’s continued year-over-year sales growth has fueled our need for a larger facility in Suffolk.”  Ace’s Redistribution Center in the city serves as the company’s East Coast hub for receiving import merchandise through the nearby Port of Virginia. Once the expansion is complete, products received at the Suffolk facility will be distributed to 10 of Ace Hardware’s 14 retail support centers that serve Ace retail stores as far away as Texas, New York and Florida.  Ace Hardware was the first tenant at CenterPoint Intermodal Center in 2012. “Ace Hardware was one of the first companies to choose the Port of Virginia as a location to deploy their supply chain diversification strategy, and this announcement speaks to Virginia’s ability to cultivate and grow businesses as well as compete in the global marketplace,” said John Reinhart, CEO and executive director of the Virginia Port Authority. 2017-02-12T21:53:00+00:00 http://www.virginiabusiness.com/news/article/the-mains-private-pre-opening-gala-will-benefit-the-arts The Main’s private pre-opening gala will benefit the arts http://www.virginiabusiness.com/news/article/the-mains-private-pre-opening-gala-will-benefit-the-arts http://www.virginiabusiness.com/news/article/the-mains-private-pre-opening-gala-will-benefit-the-arts#When:21:48:00Z The much anticipated opening of The Main in Norfolk kicks off with a private fund-raising bash for the arts before the new luxury hotel and conference center opens to the public on April 3. “The Main Event: A Celebration for the Arts,” is scheduled for March 24-26. Main developer Bruce Thompson has set an ambitious goal of raising $1 million for local arts institutions and programs in what promises to be a splashy debut. The presenting partners for the event are Virginia Beach-based developer Gold Key | PHR, where Thompson is the founder and CEO, and the Virginia Arts Festival and the Business Consortium for Arts Support. Gov. Terry McAuliffe and first lady Dorothy McAuliffe are expected to attend. The gala will include ticketed, art-focused experiences such as pop-up art exhibits, performances from Broadway stars, the area’s top local visual and performance artists, lectures, film screenings, exclusive dining experiences and a black-tie gala. Guest packages go for as much as $1,500 for the weekend. That  includes overnight accommodates in the $150 million, 21-story property, which has 300 guestrooms, several restaurants and bars, including a rooftop bar with views of the Elizabeth River and Granby Street. The package also includes a Friday night dinner at one of the hotel’s restaurants, a Friday night reception with the governor and his wife, a big-band style bash, Saturday breakfast  and lunch, Sunday brunch and passes to the weekend’s daytime arts events and exhibits.  Another option is a $50 ticket that entitles people to one admission to the opening weekend’s Saturday and Sunday daytime events and exhibits along with a lunch or brunch. “From the very early stages of this project, we have wanted to infuse different art experiences throughout The Main not only to enhance the building’s contemporary design but to encourage conversation around art and culture,” Thompson said in a statement. “This launch preview event gives us an opportunity to solidify Norfolk as the cultural center for the region while supporting our creative communities and programs. With a stroke of a pen, we can help future artists with a stroke of their brush.” The festivities kick-off March 24 with a ribbon cutting for The Fraim Center for Excellence, named in honor of former Norfolk Mayor Paul Fraim. McAuliffe is expected to attend. Later that weekend, a Sunday brunch featuring live entertainment from the Virginia Opera and the Virginia Symphony Orchestra is planned. A schedule and ticket information is available at themainnorfolk.com/special-event.aspx.. 2017-02-12T21:48:00+00:00 http://www.virginiabusiness.com/news/article/divaris-adds-two-new-retail-assignments-in-roanoke-area Divaris adds two new retail assignments in Roanoke area http://www.virginiabusiness.com/news/article/divaris-adds-two-new-retail-assignments-in-roanoke-area http://www.virginiabusiness.com/news/article/divaris-adds-two-new-retail-assignments-in-roanoke-area#When:21:45:00Z   Divaris Real Estate, Inc., based in Virginia Beach, has added two Roanoke area shopping centers to its sales and leasing portfolio.  The properties total 249,000 square feet of retail space.  The largest property is Crossroads Shopping Center, a 150,000-square-foot center located on Hershberger Road Northwest in Roanoke in a shopping corridor adjacent to Towne Square and near Valley View Mall.  The corporate headquarters of Advance Auto Parts is located at Crossroads. Other tenants include ALDI, Subway and National Optical.  Kmart Salem Shopping Center in Salem is a 99,000-square-foot shopping center that's for sale.  It is located at 1355 West Main St. on a major shopping corridor of the Salem market. Tenants at the property include Kmart, UPS, Nail Tips, and Sally Beauty.  Other retailers located close by include Lowe’s, Kroger and Walmart.   Divaris described the center as “a redevelopment opportunity”with the impending closure of the 88,000-square-foot Kmart (anticipated in April).  There is also 2,500 square feet of small shop space that is vacant. The Divaris team of Sam McCoy, Brett McNamee and Ali Newton will handle both properties. 2017-02-12T21:45:00+00:00 http://www.virginiabusiness.com/uploads2/471_Kempsville_Road_Wawa.jpg http://www.virginiabusiness.com/news/article/ground-leased-wawa-in-chesapeake-sells-for-4.6-million Ground-leased Wawa in Chesapeake sells for $4.6 million http://www.virginiabusiness.com/news/article/ground-leased-wawa-in-chesapeake-sells-for-4.6-million http://www.virginiabusiness.com/news/article/ground-leased-wawa-in-chesapeake-sells-for-4.6-million#When:21:42:00Z Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller in the disposition of a ground leased Wawa situated on two acres at 471 Kempsville Road in Chesapeake. According to Thalhimer, Our Way Development Co. acquired the property on January 20, for $4.6 million.  Catharine Spangler of Thalhimer’s Richmond office handled sale negotiations. 2017-02-12T21:42:00+00:00 http://www.virginiabusiness.com/news/article/optima-health-to-provide-new-medicaid-program Optima Health to provide new Medicaid program http://www.virginiabusiness.com/news/article/optima-health-to-provide-new-medicaid-program http://www.virginiabusiness.com/news/article/optima-health-to-provide-new-medicaid-program#When:01:09:00Z Virginia Beach-based Optima Health has signed with the Virginia Department of Medical Assistance Services to provide the state’s first Medicaid managed long-term services and supports program. The program, called Commonwealth Coordinated Care (CCC) Plus, will provide coverage to Virginians with complex health issues, many of whom require long-term services and supports as a result of aging, chronic illness or disability. The program will go into effect on Aug. 1 for the Hampton Roads area, with other regions being phased in throughout the rest of the year. Optima Health, which is part of Norfolk-based Sentara Healthcare, provides health insurance coverage to approximately 440,000 members. 2017-02-11T01:09:00+00:00 http://www.virginiabusiness.com/news/article/smith-to-retire-as-chairman-of-owens-minor Smith to retire as chairman of Owens & Minor http://www.virginiabusiness.com/news/article/smith-to-retire-as-chairman-of-owens-minor http://www.virginiabusiness.com/news/article/smith-to-retire-as-chairman-of-owens-minor#When:20:54:00Z Health-care supplier Owens & Minor Inc. announced Friday that Chairman Craig R. Smith will not stand for re-election of his term. Smith retired as president and CEO of the company in 2014. He first joined Owens & Minor in 1989. Smith served as chief operating officer from 1995 through 2005, was named president in 1999 and became CEO in 2005 when he joined the board. He was elected chairman of the board in 2013. The company plans to elect P. Cody Phipps, current president and CEO of the company, as the company’s new chairman of the board on May 5, during the company’s annual shareholder meeting. Also on Friday, Owens &  Minor announced the election of Barbara B. Hill to its board of directors. Hill has served as an operating partner of private equity firm NexPhase Capital since 2011. From 2006 until 2010, she was CEO and president of FHC Health Systems and ValueOptions Inc. 2017-02-10T20:54:00+00:00 http://www.virginiabusiness.com/opinion/article/want-a-strong-company-culture-empower-employees-to-drive-it Want a strong company culture? Empower employees to drive it http://www.virginiabusiness.com/opinion/article/want-a-strong-company-culture-empower-employees-to-drive-it http://www.virginiabusiness.com/opinion/article/want-a-strong-company-culture-empower-employees-to-drive-it#When:19:25:00Z The beginning of a new year is an energizing time in offices across the country. For many, it’s one of the most productive seasons for planning the year’s workplace culture initiatives. As you and your team plan the year, I encourage you to engage your employees on a deeper level to help build a winning culture. Don’t invite employees to accept the company culture. Invite them to help create it. In many companies, the culture is set by management and often driven by human resources. At Asurion’s D.C.-area offices, we’ve encouraged employees to create and drive the workplace culture themselves. We’ve turned the thinking upside down and have put our employees in the driver’s seat of our culture-building initiatives. Our leadership team still plays a supporting role via active participation, leadership oversight with HR and some funding, but the activities and events are largely led by the employees.  As a result, participation in our culture activities is up, and we have seen dramatic improvements in employee engagement and satisfaction rates. These improvements matter. Research shows that employees who engage strongly with their community and their employer are better at their jobs. They take pride in their work, their company and its mission, their co-workers and perhaps most importantly, themselves and their community. I’d like to share some best practices I have experienced in my role at Asurion that I believe could benefit businesses and communities in our state. Empower employees to own initiatives Office leaders can often be critical of implementing a community-driven, culture-heavy philosophy. Leaders set the tone for company culture. If building a positive and healthy culture is important to the individuals at the top, it will permeate every level of the organization. I have discovered, however, that empowering employees to help define and grow our company culture produces the most benefit. Our Culture Hub team is spearheaded and driven by our employees, with rotating leadership. They choose which organizations we support and develop relationships with. They initiate and implement office activities, from our Volunteer Week to inter-office networking and fun events. As a result, we’ve seen a more engaged and driven workplace culture, evidenced by our participation numbers and stronger collaboration among teams. Consider allowing employees to take initiative in building employee engagement within the company, among co-workers and within the community. Taking a step back and allowing such a culture to grow organically is what makes it real. Create an environment where employees feel empowered to make a difference by their own volition, for themselves and for the larger good of their company culture and community. I believe that is where the value lies. Make giving, learning and connecting fun At Asurion, our employee-driven Culture Hub team works to engage employees on multiple levels to support a cohesive office culture. Year-round happenings include cross-department social networking events and professional development opportunities designed around topics that our employees select. Additionally, our employees organize our annual Volunteer Week activities in which they raise funds and participate in hundreds of hours of volunteer activities. These efforts benefit local nonprofit groups which our employees pick, such as the Capital Area Food Bank and Cornerstones, a Reston-based nonprofit that promotes self-sufficiency by advocating for those in need of food, shelter, affordable housing and human services. Our office networking and professional development events are driven by feedback from our employees who’ve told us that it’s important for them to meet co-workers across departments and learn about other functions within the company, to help learn and grow in their own careers. This effort at cohesion results in stronger companywide activities such as our annual Volunteer Week, when we ask everyone to come together to support causes important to them and to Asurion. Making these kinds of activities fun is important, too. Associates had a blast during Volunteer Week – we created in-office challenges, such as putt-putt games, to encourage competition in giving. We decorated the office with pink flamingoes to rev up excitement for donations. As a result the energy grew among our teams, and our productivity rose to match the energy level. It was a contagious effort that lifted everyone’s spirits at all levels of the organization. These are just a few examples of small ideas that can get an office engaged in fun, cohesive activities. Connect with your community Developing workplace culture and corporate-community relationships fosters pride in oneself and in one’s company and co-workers. The benefit to the company’s bottom line and morale cannot be measured. Of course, I say all of this from the perspective of a business leader, with my employees and colleagues in mind. However, I can’t ignore the enormous benefit that corporate volunteerism and community-building also have on just that – the community. There are needs every day in each community – including homelessness, child hunger and access to affordable childcare – which no single person can fill. Businesses and organizations hold enormous power to build and support communities. I believe they also have a responsibility to do so. If your employees are already driving the workplace culture in your office, then you are likely seeing similar success. As a leader, there is no better feeling than an empowered and engaged workforce. I encourage all business leaders to invite their employees to take an active role in developing their company culture to help build personal meaning within the workplace and within their communities. Rob DiRocco is senior vice president for Retail Solutions at Asurion in Sterling. 2017-02-10T19:25:00+00:00 http://www.virginiabusiness.com/news/article/technology-company-to-expand-in-fairfax Technology company to expand in Fairfax http://www.virginiabusiness.com/news/article/technology-company-to-expand-in-fairfax http://www.virginiabusiness.com/news/article/technology-company-to-expand-in-fairfax#When:21:17:00Z IOMAXIS announced Thursday it is planning to invest $3.8 million to expand its operation in Fairfax County, creating 555 new jobs over the next three years. The company provides cyber, global communications, and advanced network and computing technologies for technology companies as well as the U.S. Department of Defense, Homeland Security, the intelligence community and law enforcement. “We will continue to make it our mission to fight, overcome and thwart future threats for our wide portfolio of clients,” Bob Burleson, CEO of IOMAXIS, said in a statement. “To stay ahead of that challenge requires a talented, diverse workforce and policies friendly to small companies seeking to grow rapidly. Virginia provides these things, and we are very excited to be expanding our operations in the state.” The Virginia Economic Development Partnership (VEDP) will support IOMAXIS’ new job creation through its Virginia Jobs Investment Program (VJIP), which provides consulting and funding for companies creating jobs or experiencing technological changes. 2017-02-09T21:17:00+00:00 http://www.virginiabusiness.com/news/article/penfed-credit-union-to-acquire-scranton-based-credit-union PenFed Credit Union to acquire Scranton-based credit union http://www.virginiabusiness.com/news/article/penfed-credit-union-to-acquire-scranton-based-credit-union http://www.virginiabusiness.com/news/article/penfed-credit-union-to-acquire-scranton-based-credit-union#When:02:37:00Z PenFed Credit Union of Tysons announced it is acquiring Valor Federal Credit Union of Scranton, Pa. At least 30,000 potential members will become eligible to join PenFed. The new members will earn higher savings rates and lower loan rates, according to PenFed. Valor members include military and civilian employees at the Tobyhanna Army Depot and employees from hundreds of companies in Northeastern Pennsylvania. PenFed is one of the largest credit unions in the country, with more than 1.5 million members and more than $21 billion in assets. The credit union currently has more than 36,500 Pennsylvania residents. The credit union said in a release that is expanding its member and employee bases and geographical footprint. 2017-02-09T02:37:00+00:00 http://www.virginiabusiness.com/news/article/revature-to-offer-coding-programs-to-gmu-students Revature to offer coding programs to GMU students. http://www.virginiabusiness.com/news/article/revature-to-offer-coding-programs-to-gmu-students http://www.virginiabusiness.com/news/article/revature-to-offer-coding-programs-to-gmu-students#When:21:05:00Z Revature, a Fairfax-based talent development company, has partnered with George Mason University to offer students free coding classes. The programs are designed to close a skills gap for software development. According to a recent report by the Northern Virginia Technology Council, more than 60 percent of technology employers said they had difficulty finding workers with experience in programming and software development. Revature will offer intensive onsite and online coding programs for Mason students. The onsite courses are held at Revature’s headquarters in Reston and provide students with enterprise software development skills needed in the workforce. “With these programs, we’re addressing the skills gap head-on and creating a pool of talented software developers that have the enterprise-level skills needed to enter the workforce and make an impact on day one,” Ashwin Bharath, Revature’s chief operating officer, said in a statement. 2017-02-07T21:05:00+00:00 http://www.virginiabusiness.com/news/article/divaris-relocates-and-expands-virginia-beach-headquarters Divaris relocates and expands Virginia Beach headquarters http://www.virginiabusiness.com/news/article/divaris-relocates-and-expands-virginia-beach-headquarters http://www.virginiabusiness.com/news/article/divaris-relocates-and-expands-virginia-beach-headquarters#When:20:51:00Z Divaris Real Estate Inc. has relocated and expanded its corporate headquarters in Virginia Beach to accommodate the firm’s growing staff. The company said it has added 17 new employees in the last six months at its corporate headquarters, prompting a move to a 17,500-square-foot space on the ninth floor at 4525 Main Street in the Town Center of Virginia Beach, the latest office tower to be completed in the city’s Central Business District.  It’s across the street from Divaris’ previous location of 32 years on the seventh floor of One Columbus Center, the Town Center’s first office building. Divaris Real Estate and Divaris Property Management Corp. lease and manage both buildings, along with the other buildings at the Town Center. According to the company, the growth is the result of several new business assignments including: ·        An increase in its portfolio of leased and managed properties by about 10 percent to 29 million square feet;· ·        An increase in the amount of leasing, management and acquisition assignments it handles for Armada Hoffler Properties, a Virginia-based real estate investment trust also located at the Town Center; ·        A new assignment to represent the U.S. national expansion for Oak Furnitureland, a British furniture retailer; ·        The representation of the Commonwealth of Virginia in its commercial space requirements throughout the state. 2017-02-07T20:51:00+00:00 http://www.virginiabusiness.com/news/article/missouri-company-plans-manufacturing-site-in-spotsylvania Missouri company plans manufacturing site in Spotsylvania http://www.virginiabusiness.com/news/article/missouri-company-plans-manufacturing-site-in-spotsylvania http://www.virginiabusiness.com/news/article/missouri-company-plans-manufacturing-site-in-spotsylvania#When:20:20:00Z Missouri-based idX Corp., a company that helps businesses create store environments, will invest $7.2 million to establish a manufacturing operation in Spotsylvania County. The project is expected to create 150 jobs. Virginia competed against Maryland and North Carolina for the project. The idX website proclaims, “We are in the store opening business.”  The company provides retailers with millwork, fixtures, décor and graphics. These products are made from a variety of materials including glass, laminates, metal, upholstery, veneers, and wood. The company, based in Earth City, Mo., is acquiring the former General Motors Fredericksburg Powertrain facility from the RACER Trust, an entity established to create redevelopment opportunities for former GM sites. “This investment in Spotsylvania County will help idX strengthen our East Coast manufacturing and distribution network and position us for continued growth and success,” Terry Schultz, CEO of idX, said in a statement. The Virginia Economic Development Partnership worked with Spotsylvania County and the Fredericksburg Regional Alliance at the University of Mary Washington to secure the project. Gov. Terry McAuliffe approved a $400,000 grant from the Commonwealth’s Opportunity Fund to assist Spotsylvania County with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. 2017-02-07T20:20:00+00:00 http://www.virginiabusiness.com/uploads2/IMG_2805.jpg Dominion Resources CEO Tom Farrell. Photo by Paula Squires http://www.virginiabusiness.com/news/article/dominion-resources-wants-to-change-name-to-dominion-energy Dominion Resources wants to change name to Dominion Energy http://www.virginiabusiness.com/news/article/dominion-resources-wants-to-change-name-to-dominion-energy http://www.virginiabusiness.com/news/article/dominion-resources-wants-to-change-name-to-dominion-energy#When:18:43:00Z Dominion Resources Inc. is in the business of energy, and it wants a name change to reflect that. To recognize its focus on energy and to unify its brand following last year’s merger with Questar Corp., the company rolled out a new proposed name and coporate logo Monday, Dominion Energy Inc., that CEO and Chairman Thomas F. Farrell II says is a truer representation of the company than its current moniker. Dominion Energy builds upon the company’s 119-year-history, Farrell said, and “updates our company’s look and unifies the company’s brand across all of our lines of business and throughout the 18 states where we do business,” he told a small audience that gathered at the company’s corporate headquarters building in downtown Richmond for the announcement. The new logo retains Dominion’s dominant “D” shape while updating it with stripes suggesting energy through a blue background that customers already are familiar with. Farrell plans to seek shareholder approval for the name change at Dominion’s annual meeting in May. The company’s 2017 proxy, expected to be filed in March, will include information about the proposed rebranding. The company’s stock will continue to be traded on the New York Stock Exchange under the ticker symbol “D.” Dominion Resources was created in 1983 as a holding company for its electric and natural gas utilities, a services company and another subsidiary. The current logo, showing a finger on a light switch against a blue background, was introduced just prior to the merger with Consolidated Natural Gas in 2000. “ Apparently, 17 years is a long time in logo land,” said Farrell. The global branding firm of Chermayeff & Geismar & Haviv designed the new logo. The New York-based graphic design firm is behind some of the world’s most recognized trademarks, including NBC, State Farm and National Geographic. Sagi Haviv, a partner and designer, said after doing some research it became clear to the firm that Dominion’s logo “should be updated not reinvented.” That’s because he said the Dominion brand has two things every company wants: “The public has a positive perception of the company,” Haviv said, and it had a well-established brand with the capital “D” on a blue background. Before retaining Haviv’s firm, Farrell said Dominion also called upon local talent for the rebranding. Kelly O’Keefe, head of creative brand management at Virginia Commonwealth University, assisted in the effort.  He spoke during the announcement, calling the new logo “simple, fresh and timeless.” If shareholders approve the name change, the company would begin replacing logos on everything from employee hard hats to company vehicles and buildings. It also will need to change its official name for doing business in seven states  -- Idaho, North Carolina, Ohio, Utah, Virginia West Virginia and Wyoming – where its gas and electric distribution companies reside. The company’s new principal operating units – Power Delivery Group, Power Generation Group and Gas Infrastructure Group – would replace Dominion Virginia Power, Dominion Generation and Dominion Energy, respectively. Asked how much the rebranding effort would cost, Farrell described it as “not a significant amount,” for a company of Dominion’s size. He said the cost would be at the shareholders’ expense and and not passed through to consumers. Dominion is the state's largest utility. It's also one of the nation's largest producers and transporters of energy, with a portfolio of about 26,400 megawatts of generation, 14,600 miles of natural gas transmission, gathering and storage pipeline and 6,600 miles of electric transmission lines. 2017-02-06T18:43:00+00:00 http://www.virginiabusiness.com/uploads2/meredith-woo-1.png Meredith Woo photo by Aaron Mahler http://www.virginiabusiness.com/news/article/sweet-briar-names-new-president Sweet Briar names new president http://www.virginiabusiness.com/news/article/sweet-briar-names-new-president http://www.virginiabusiness.com/news/article/sweet-briar-names-new-president#When:18:20:00Z A former University of Virginia dean has been named the new president of Sweet Briar College. Meredith Woo will succeed Phillip C. Stone, who retires in May.  Stone took over as president of the school in July 2015 after alumnae succeeded in reversing plans by the previous administration to close the 116-year-old women’s college. Woo will become Sweet Briar’s 13th president.  From 2008-14, she was  the Buckner W. Clay Dean of the College and Graduate School of Arts & Sciences at U.Va. where she oversaw 11,000 undergraduate students, 1,600 graduate students and 800 full-time faculty. Annual donators for the college nearly tripled under her tenure. Most recently, Woo has lived in London directing the Open Society Foundations’ global higher education program. The program has created and  supported more than 50 liberal-arts colleges in former Soviet bloc nations. Woo also is credited with helping to provide university-level education to refugee populations in the Middle East, South Asia and Africa. Before coming to  U.Va., Woo was associate dean for social sciences at the University of Michigan and a professor of political science. She was a visiting scholar at the Ministry of Finance in Tokyo. She also taught at Northwestern University and Columbia University. Woo holds a doctorate in political science and a master’s degree in international affairs from Columbia and a bachelor’s degree in  history from Bowdoin College in Maine. A native of Seoul, Korea, she speaks Korean and Japanese and is proficient in Chinese, Spanish and Portuguese. She has authored or edited six books and many scholarly articles. Woo also is the executive producer of an award-winning film, which premiered at the Smithsonian Institution in 2006. Woo is married to historian Bruce Cumings, the Gustavus F. and Ann M. Swift Distinguished Service Professor of History at the University of Chicago. Their son, Ben Cumings, 23, is a recent graduate of Bowdoin and an aspiring actor. 2017-02-06T18:20:00+00:00 http://www.virginiabusiness.com/news/article/mooring-financial-corp.-selects-divaris-real-estate-for-leasing-assignment Mooring Financial Corp. selects Divaris Real Estate for leasing assignment in Hampton http://www.virginiabusiness.com/news/article/mooring-financial-corp.-selects-divaris-real-estate-for-leasing-assignment http://www.virginiabusiness.com/news/article/mooring-financial-corp.-selects-divaris-real-estate-for-leasing-assignment#When:15:59:00Z Mooring Financial Corp. has selected Divaris Real Estate Inc. to handle the leasing of a Hampton office building. The 50,000-square-foot, Class B building is located in the Langley Research and Development Park at 130 Research Drive. Situated a half mile from Langley Air Force Base and NASA facilities, the building is located in a Virginia Enterprise Zone.  it was constructed in 2003.  Chris Bendit and Eric Hammond of the Virginia Beach office of Divaris are the agents in charge.  Founded in 1982 and based in Tysons,Mooring Financial Corp. is a private investment firm that manages alternative assets for high net worth individual and institutional investors. 2017-02-06T15:59:00+00:00 http://www.virginiabusiness.com/uploads2/350_Centre_Pointe_Dr-VAB.jpg http://www.virginiabusiness.com/news/article/sentara-healthcare-purchases-building-in-virginia-beach Sentara Healthcare purchases building in Virginia Beach http://www.virginiabusiness.com/news/article/sentara-healthcare-purchases-building-in-virginia-beach http://www.virginiabusiness.com/news/article/sentara-healthcare-purchases-building-in-virginia-beach#When:15:47:00Z Sentara Healthcare has purchased an office building in Virginia Beach’s Centre Pointe Office Park for $3.06 million. Sentara bought the two story, 30,000-square-foot office building from Engility Corp. The building is located on 3.09 acres. Rob Wright of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller. 2017-02-06T15:47:00+00:00 http://www.virginiabusiness.com/uploads2/THALHIMERPROMOS.png Pictured from left to right: Ashby, Nielsen and Thalhimer. http://www.virginiabusiness.com/companies/article/cushman-wakefield-thalhimer-names-new-senior-vice-presidents Cushman & Wakefield | Thalhimer names new senior vice presidents http://www.virginiabusiness.com/companies/article/cushman-wakefield-thalhimer-names-new-senior-vice-presidents http://www.virginiabusiness.com/companies/article/cushman-wakefield-thalhimer-names-new-senior-vice-presidents#When:15:07:00Z Cushman & Wakefield | Thalhimer  has promoted James Ashby IV, Richard Thalhimer  and John K. Nielsen to senior vice president. Ashby joined the company’s Richmond office in 2004.  He has extensive retail real estate experience focusing primarily on landlord and tenant representation as well as representing buyers and sellers of retail-owned assets. Ashby currently handles nearly 7 million square feet of retail assets and has been instrumental in the preleasing of numerous retail development projects. He leads the Richmond Retail Services Group. Thalhimer, a retail specialist in the firm’s Richmond office,  has been with the company since 1996. He has more than 25 years of experience with a variety of product types ranging from power centers and strip shopping centers to rehab projects. Nielsen specializes in landlord representation, tenant representation and site selection services for regional and national retailers as well as the redevelopment and leasing of adaptive reuse historic properties and mixed-use developments within downtown districts. He joined Thalhimer’s Richmond office in 2004 and in 2009 relocated to the Roanoke office where he continues retail services for western Virginia. 2017-02-06T15:07:00+00:00 http://www.virginiabusiness.com/news/article/anchor-bar-opening-next-week-at-stony-point-fashion-park Anchor Bar opening next week at Stony Point Fashion Park http://www.virginiabusiness.com/news/article/anchor-bar-opening-next-week-at-stony-point-fashion-park http://www.virginiabusiness.com/news/article/anchor-bar-opening-next-week-at-stony-point-fashion-park#When:15:06:00Z Anchor Bar, a restaurant known for its chicken wings, is opening its first U.S. location outside of New York state on Feb. 18 at Stony Point Fashion Park in Richmond. The new location is a franchise owned by David Allred. It occupies 8,500 square feet of space and seats up to 275. In addition, it  has a 60-person patio that will open this spring. The restaurant is located between Saks Fifth Avenue and Dick’s Sporting Goods, in the space that was formerly occupied by Champps Americana. Anchor Bar is the first new permanent tenant to open at Stony Point Fashion Park since the shopping center, owned by Starwood Retail Partners, announced a $50 million redevelopment. The original Anchor Bar, located in downtown Buffalo, N.Y., first opened its doors in 1935. The Richmond location will serve Anchor Bar’s chicken wings plus new menu items, such as sandwiches, pizza and desserts. Anchor Bar has filled about half of its staff positions but is looking to hire approximately 70 more people for the new restaurant. Job seekers can apply by visiting my.peoplematter.com/mja/anchorbar/jobapp/GetStarted. 2017-02-06T15:06:00+00:00 http://www.virginiabusiness.com/uploads2/JBG1111_Central_Place_C6_Night_05-10-12.jpeg The residences at Central Place http://www.virginiabusiness.com/news/article/jbg-cos.-opens-central-place-residential-tower-in-rosslyn JBG Cos. opens Central Place residential tower in Rosslyn http://www.virginiabusiness.com/news/article/jbg-cos.-opens-central-place-residential-tower-in-rosslyn http://www.virginiabusiness.com/news/article/jbg-cos.-opens-central-place-residential-tower-in-rosslyn#When:21:34:00Z   It’s been a big week for Rosslyn. Not only did corporate giant Nestle USA decide to move its U. S. headquarters to this part of Arlington County, but the JGB Cos. opened a 31-story residential tower that’s helping to redefine the area’s skyline. Nearly two years after breaking ground, JBG opened the residences at Central Place last week as part of a 31-story, mixed-use development. The residential tower, a JBG joint venture with the State Teachers Retirement System of Ohio, offers 377 apartments. Central Place is a 1 million-square-foot development with dramatic glass facades on the residential tower and companion class-A office building. It also has a 17,000-square-foot public plaza and an observation deck offering unobstructed views of the National Mall. Large enough to host public events, the plaza will offer outdoor seating, a splash fountain and mix of street level retail and fast-casual dining offerings including Cava Grill, Compass Coffee, Nando’s Peri Peri, Sweetgreen, and the first Northern Virginia location for The Little Beet. The plaza also will also provide a pedestrian connection between North Lynn and North Moore Streets. It is anchored by three high-speed elevators that provide direct access to the Rosslyn Metro station. “The development of Central Place is one of Rosslyn’s most important milestones since the Metro came to town. It’s an embodiment of our community’s transformation from a commercial district into an active, mixed-use center,” Mary-Claire Burick, president of the Rosslyn Business Improvement District, said in a statement. “The observation deck and public plaza … are set to immediately become important community gathering places and iconic features in our neighborhood.” JBG tapped Beyer Blinder and Belle Architects and Planners, known for the revitalization of New York City's Rockefeller Center, to design Central Place. Based in Chevy Chase, Md.,JBG is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. According to the company, it has more than $10 billion in assets under management and development in the Washington, D.C. area.   2017-02-05T21:34:00+00:00 http://www.virginiabusiness.com/companies/article/pbmares-names-two-new-partners PBMares names two new partners http://www.virginiabusiness.com/companies/article/pbmares-names-two-new-partners http://www.virginiabusiness.com/companies/article/pbmares-names-two-new-partners#When:22:27:00Z Newport News-based PBMares LLP, an accounting and business consulting firm, has named Dwight A. Buracker and Neena Shukla partners.  Buracker, a CPA,  works in the firm’s Harrisonburg office and has 15 years of public accounting experience.  His expertise is providing assurance services to middle-market businesses and state and local governmental clients.  Buracker is a graduate of Ferrum College. Shukla, a CPA,  has more than 14 years of public accounting experience and works in the firm’s Fairfax office.  She leads the firm’s government contracting team and also focuses on construction contractors, real estate entities, employee benefit plans, Securities and Exchange Commission consulting, and working with technology companies. Shukla is a graduate of the University of Wales in Swansea (United Kingdom). 2017-02-03T22:27:00+00:00 http://www.virginiabusiness.com/companies/article/bristol-compressors-names-senior-management-executive Bristol Compressors names senior management executive http://www.virginiabusiness.com/companies/article/bristol-compressors-names-senior-management-executive http://www.virginiabusiness.com/companies/article/bristol-compressors-names-senior-management-executive#When:22:22:00Z Luka Lojk has joined the senior management team at Bristol Compressors International LLC in Bristol as vice president of sales and marketing. Before joining Bristol Compressors, Lojk served as vice president of air treatment  at Ingersoll Rand, responsible for a network of companies developing and marketing air-treatment solutions. He holds a bachelor’s degree in electrical engineering from North Carolina State University and an MBA from Duke University. Bristol Compressors is a major producer of compressors for use in air conditioning, heat pump and refrigeration systems. The company supplies compressors to original-equipment manufacturers and wholesale distributors in more than 60 countries on six continents. 2017-02-03T22:22:00+00:00 http://www.virginiabusiness.com/news/article/air-india-to-begin-nonstop-service-from-dulles-to-new-delhi Air India to begin nonstop service from Dulles to New Delhi http://www.virginiabusiness.com/news/article/air-india-to-begin-nonstop-service-from-dulles-to-new-delhi http://www.virginiabusiness.com/news/article/air-india-to-begin-nonstop-service-from-dulles-to-new-delhi#When:22:04:00Z Air India in early July will begin nonstop service between Washington Dulles International Airport and Indira Gandhi International Airport near New Delhi. The airline will offer three nonstop, roundtrip flights per week. The governor’s office expects the air service to bring an additional 30,000 tourist and business travelers to the Capital Region, which includes Northern Virginia, creating an economic impact of $30 million. Gov. Terry McAuliffe said he met with Air India executives during a November 2015 trade and marketing mission to India. McAuliffe proposed a $1.25 million incentive package over a three-year period beginning in fiscal year 2018 to support Air India and stimulate travel to Virginia through Washington Dulles International Airport. In addition, the District of Columbia plans to provide $250,000 this year to support the partnership. In 2015, the Capital Region had more than 122,000 visitors from India, an increase of more than 25 percent from 2014. By 2020, arrivals from India to the U.S. are projected to increase by nearly 7 percent, making India the ninth overseas market for the U.S. Visitation to the Capital Region from India is expected to double by 2025. 2017-02-03T22:04:00+00:00 http://www.virginiabusiness.com/uploads2/Hughes-0463.png Kevin Hughes, Suffolk’s economic development director. Photo by Mark Rhodes http://www.virginiabusiness.com/news/article/a-new-king-in-the-peanut-capital A new king in the peanut capital? http://www.virginiabusiness.com/news/article/a-new-king-in-the-peanut-capital http://www.virginiabusiness.com/news/article/a-new-king-in-the-peanut-capital#When:22:00:00Z The aroma of freshly roasted peanuts still wafts through Suffolk, but the Peanut Capital of the World now gravitates toward a new export. The city’s economy is getting a caffeinated jolt from its flourishing coffee manufacturing and processing industry.  Coffee beans soon may even overpower the peanuts, as Suffolk ramps up its manufacturing and food and beverage processing industries. In December, Peet’s Coffee announced plans to build a $58 million roastery in Suffolk’s CenterPoint Intermodal Center. The Emeryville, Calif.-based craft-coffee brand expects to hire 135 workers to run the 175,000-square-foot facility, its first on the East Coast. Suffolk beat out communities in five other mid-Atlantic states to secure the project. Peet’s decision largely was swayed by Suffolk’s proximity to the Port of Virginia plus the city’s skilled workforce, available sites and existing coffee culture. Caffeinated companies — including J.M. Smucker, Massimo Zanetti Beverage, Lipton, Continental Terminals, Pacorini, Vitex Packaging Group, and Crown Cork and Seal — already have established processing, packaging and logistics operations in Suffolk, leading the city to claim a new moniker, “Caffeine Capital of the World.” Agriculture remains a significant economic driver in Suffolk, but Suffolk’s days as a sleepy farming community are long gone. In addition to food and beverage processing, the city has put out the welcome mat for a multitude of industries, including warehousing, distribution, advanced manufacturing, hospitality, medical services, retail, and modeling and simulation. “It’s a large but realistic list of target industries, and we’ve seen growth and opportunities in them,” says Kevin Hughes, Suffolk’s economic development director. Suffolk, in fact, is hitting its industrial targets already. In 2015, 91 new and expanding businesses brought nearly 2,000 jobs to the city along with almost $190 million in capital investments. Among them is Target Corp., which added 600 jobs and invested $50 million to expand its distribution center. Bustling intermodal center Much of the growth is taking place at CenterPoint Intermodal Center where Peet’s Coffee will build its roastery. The 900-acre logistics center recently became the state’s first certified industrial site, meaning all major infrastructure components are in place. “CIC-Suffolk has not only met all the infrastructure requirements for in-place utilities and roadways but also has the only pad-ready site that can accommodate a 350,000-square-foot building,” says Bob Harbour, CenterPoint’s senior vice president for development. “It sets us aside from other developments around the state and the mid-Atlantic.”  CenterPoint is about 40 percent full. Ace Hardware, Nexcom and office furniture and equipment manufacturer Friant & Associates have facilities there, while Emser Tile expects to open its East Coast distribution center next month. “We look forward to more growth as the U.S. economy improves and global trade increases in the near future,” Harbour says. Business expansions lead to residential growth, which in turn attracts more retail development. “Ultimately, the top two business and industry attractors to Suffolk are the city’s steady population increase and location,” Hughes notes. “You can easily move people and product very efficiently.” One of Virginia’s fastest-growing cities, Suffolk has about 90,500 residents, a nearly 40 percent increase since the 2000 census. Another 40 percent surge is expected by 2040. The influx of new residents has led to a housing boom of sorts, with construction centered on downtown, central and northern Suffolk. Residents have a variety of options, ranging from downtown apartments to single-family homes. Farmland also is available for those preferring a more bucolic lifestyle. Suffolk’s array of homes, along with growth and the quality of its schools, led consumer advocacy site NerdWallet to rank the city 19th on its 2015 list of the Best Cities for Young Families in the commonwealth. NerdWallet also named Suffolk a top city for veterans in 2015. Downtown redevelopment Meanwhile, downtown Suffolk is attracting the attention of developers. The Monument Cos. and Sensei Development, for example, have created more than 150 downtown apartments during the past five years. Specializing in historic rehabs, Monument and Sensei have invested more than $24 million in downtown Suffolk, redeveloping 165,000 square feet of commercial and residential space. Their projects include Washington Square, which transformed seven buildings along a West Washington Street block into loft apartments and retail space in late 2014. The $9.5 million development marked the largest private reinvestment in downtown Suffolk in 15 years. “We’re fortunate to find good developers who are breathing new life into vacant and abandoned real estate,” Hughes says. “Downtown has a lot of character. It’s quirky, and there are opportunities for independent retailers to take advantage of that.” There may even be an opportunity for Franklin-based Paul D. Camp Community College to open a downtown Suffolk campus. That would further stimulate downtown activity, but Hughes says the city and the college are not ready to commit to the idea. To help determine its next course, the city plans to conduct a downtown initiative study. A similar study 15 years ago led to the construction of a Hilton Garden Inn and the renovation of the former Suffolk High School into the Suffolk Center for Cultural Arts. Obici Place A few miles from downtown, another mixed-use development is under construction at the former Sentara Obici Hospital site. After lying dormant for more than a decade, the 27.5-acre Main Street property is being transformed into Obici Place. Meridian Obici, a 224-unit apartment development by Waverton Associates, opened last summer on part of the site, while eight acres have been set aside for commercial development. Hughes says that will give Obici Place a town center vibe. “There will be a lot of urban-scale pedestrian friendliness themes attached to it, but ultimately, our town center is in the historic downtown.” Venture Realty Group has contracted to purchase the commercial section at Obici Place, with closing expected early this summer, says Mike Culpepper, the firm’s managing partner. German grocer Aldi is slated to anchor the development, while deals with other businesses are in the works. “We are working on commitments from two users, with a number of prospects looking at these spaces,” he says, adding that the Main Street corridor is “buzzing with new retail.” The city purchased the Obici property for $4.5 million in 2005 — three years after the hospital opened a new facility on Godwin Boulevard — and sold it the next year to a Norfolk developer who envisioned a mixed-use plan. When that did not happen, in 2008 the developer sold the property back to the city, which conveyed it to the Economic Development Authority in 2013. A group of residents promoted the idea of turning the site into a park, with hiking trails, benches and a gazebo for concerts. The city, however, ultimately decided a mixed-use development would better meet the needs of its growing population. “We found that people who have jobs in the central part of the city were commuting from Chesapeake or other nearby cities,” Hughes says. “With Obici Place, we’re offering an inventory that we didn’t have before.” Although a park at Obici Place was a no-go, the city still considers recreational amenities a priority. “There has been a lot of time and effort invested in the quality of life from a recreational standpoint over the last 10 years,” Hughes says, noting the construction of two recreation centers and the conversion of former rail beds into the Suffolk Seaboard Coastline Trail, which will eventually cover more than 11 miles from downtown to the Chesapeake city line. Harbour View Meanwhile, retail is flourishing in Northern Suffolk’s Harbour View area. The past few years have seen the mixed-use Hampton Roads Crossing project welcome a 123,000-square-foot Kroger Marketplace. It anchors a shopping center that includes DSW Designer Shoe Warehouse, Ulta Beauty, Michaels, Ross Dress for Less, Petco, Texas Roadhouse and Zaxby’s. The retail center is next to a walkable neighborhood of single-family homes, town homes and apartments. North of Hampton Roads Crossing, the city is preparing a 55-acre site adjacent to the James River. Master plans call for Point at Harbour View to include space for research and development, offices and retail.  Health care also has made a significant imprint at Harbour View. Last fall, Bon Secours Hampton Roads opened its $20 million Bon Secours Cancer Institute, giving patients a one-stop, central location for care. “Here we are in the middle of a community that is growing, and our patients won’t have to go very far to get care,” says Marylou Anton, director of oncology services for Bon Secours Hampton Roads.  “They can see their doctors and get radiation or chemotherapy here without having to move their car. We’re trying to make it as pleasant as possible and incorporate cancer into their life, not let their life be run by a cancer diagnosis.” Bon Secours expects the cancer center to provide 8,000 radiation therapy treatments annually, along with chemotherapy and other advanced cancer services. The American Association for Cancer Research says western Hampton Roads is one of three colon-cancer hot spots in the U.S., while a 2014 Virginia Department of Health report determined that the area has some of the state’s highest cancer morbidity and mortality rates. “With the volume of patients moving here, those rates will continue to grow,” Anton notes. “We’re putting a footprint here to help people as well as work on community education and prevention.” The cancer center is part of the 23-acre Bon Secours Harbour View Medical Plaza, which includes diagnostic services, two primary-care physician practices, 13 specialist practices ranging from plastic surgery to gynecologic oncology, a weight-loss program and an emergency department. “Harbour View is a significant growth area, and we realize that we can better serve the community by putting resources out there,” says Lynne Zultanky, Bon Secours’ administrative director for marketing and public relations. She adds that the population in the ZIP codes surrounding Harbour View is expected to grow by 7 percent between 2013 and 2020. More signs of the persistent growth pervade the 430-square-mile city. “We like to say that we’re a fast-growing city that’s home to fast-growing companies,” Hughes adds. “It’s hard not to be excited that people want to live in your community. It says we’re doing something right and that more people want to be a part of it.” 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/151020_hollins_090120.png Hollins University’s 234-member freshman class last fall was the school’s largest entering class in 17 years. http://www.virginiabusiness.com/news/article/celebrating-womens-education Celebrating women’s education http://www.virginiabusiness.com/news/article/celebrating-womens-education http://www.virginiabusiness.com/news/article/celebrating-womens-education#When:22:00:00Z Hollins University turns 175 this year. “There aren’t many colleges in the country who can claim that kind of history,” says Hollins President Nancy Gray. “We have several of them in Virginia, but it’s unusual by national standards.” The women’s college just outside of Roanoke approaches the milestone with no debt, a dozen-year string of balanced budgets, a large and growing endowment, and an apparently healthy relationship with young women seeking an education. The 234-member freshman class that joined the Hollins sisterhood last fall was the university’s largest in 17 years. The next freshman class will be greeted by a new president. Gray, who will have been Hollins’ president for 12½ years when this semester ends, says this is  “a natural stopping point” and “a great time to hand Hollins off in a strong position to my successor, Pareena Lawrence.” Hollins’ board of trustees conducted a three-month search and in November chose Lawrence to be the university’s 12th president. She is provost and chief academic officer at Augustana College, a 156-year-old, 2,500-student liberal arts school in Rock Island, Ill.  In a letter to the Hollins community announcing Lawrence’s selection, search committee member Alex Trower says, “Pareena embodies all that is a Hollins woman: smart, articulate, warm, energetic, caring, engaged and completely aligned with our mission.” Judy Lambeth, who chairs the board of trustees and led the search committee, says, “We were looking for someone who is clearly committed to women’s education. That is what Hollins is all about. That is our mission. We still believe in that wholeheartedly.” ‘Prepared for anything’ Offering a liberal arts education to an all-female student body in small classes may seem out of step in this era of coeducation and high-tech training at ever-larger universities. But out of step doesn’t mean out of date. “We believe so strongly in that core mission of liberal arts education and education for women,” Gray says. “But we also believe that an institution, in order to thrive, has to be in the world as it is today, because we function in a world that is constantly changing … And so, several years ago now, we recognized the need to diversify our student body and have done that successfully from a host of perspectives — racial, ethnic, socio-economic.” Part of being in the world as it is today, Gray says, is preparing for the world as it will be. “I mean, the reality is, technology is changing so fast, we can’t possibly prepare students with technical skills for the job market that are going to persist because they’re going to be out of date by the time they graduate or a few years later,” she says. “However, if we can prepare them to think, to solve problems, prepare them with quantitative skills, prepare them to communicate effectively orally and in writing, prepare them to work effectively in teams, they’re going to be prepared for anything that happens in the job market, no matter how it changes ... And employers are telling us that,” she says. “The liberal arts are maybe more relevant today than they’ve ever been, not less.” That can be a hard sell for parents looking at a sticker price in the current academic year of more than $49,000 in tuition, fees, room and board at a school where English and studio art are among the most popular majors. “We try to connect the dots for them,” Gray says. Alumnae network No matter what a Hollins’ woman majors in, she has a chance to study abroad, participate in the university’s Batten Leadership Institute Program and become involved in undergraduate research. For parents worried about their daughters’ employability, the most encouraging aspect of a Hollins education may be the network of its graduates willing to share their knowledge and experience with students. Lisa Birnbach, author of “The Preppy Handbook,” recognized the importance of the Hollins’ alumnae network in a Vanity Fair article about women’s colleges thriving “in this era of post-feminism, gender fluidity and skyrocketing tuitions.” Of Hollins, Birnbach wrote, “The secret sauce is the intensely involved alumnae, who return to campus whenever they’re invited as mentors, and who provide internship opportunities to the students.” During the most recent January term, Gray says, Hollins had 30 or more students in New York City; 30 or more in Washington, D.C.; about 50 in Roanoke and others scattered in other cities — all working with and learning from Hollins alumnae. The alumnae also offered programs on résumé writing, interviewing and other skills valuable for anyone looking for her first job after college. “They’re sharing their experience with students and giving them feedback,” Gray says. “Our hope is these internships will turn into jobs.” In addition to offering internships, alumnae return to campus every fall for the university’s Career Connections Conference. Classes are canceled so students can attend alumnae-led workshops ranging from what it takes to own and run a business to how to find an apartment in a strange city. When they’re not on campus or hosting students’ internships, many alumnae serve as career mentors and connect with students through Skype sessions. Though some of these programs and emphases are relatively new, Hollins graduates have been finding success for some time. The first woman assigned to cover the White House for a television network, the founder of Emily’s List, the youngest woman to win the Man Booker Prize and the author of “Goodnight Moon” were all Hollins women. The university has produced four Pulitzer Prize winners and one U.S. poet laureate. Yet, perhaps because it has only 639 undergraduates, Hollins has remained, according to Birnbach’s Vanity Fair article, “a cozy place where everything is for the delectation of the undergraduate women who attend it.” Lambeth, the board of trustees chair, agrees. “It’s tailored to you,” she says. “You come in, and you’re able to make that education fit your priorities. It’s just a unique place. “I came in like a tangled-up puppet, like so many teenagers are,” she adds. “It didn’t take long before I realized that Hollins is helping me have these capabilities, maybe I should put them to use.” Fewer single-sex schools Perhaps the most surprising thing about a Hollins education is that it’s still available. In 1857, Hollins founder Charles Cocke declared his school recognized “the principle that in the present state of society in our country young women require the same thorough and rigid training as that afforded to young men.” That was a fairly radical idea for its time. During the next century or so, a growing number of people accepted Cocke’s position. Some of them even thought women should be allowed to get that education at the same schools as men. As more colleges and universities became co-ed, single-sex schools became scarce. In 1970, Virginia was home to 11 women’s colleges. Now it has three. Sweet Briar College nearly closed in 2015, before being rescued from financial problems by a determined group of alumnae. Mary Baldwin University, also celebrating its 175th anniversary this year, plans to admit men to a residential program for the first time this fall, though it will be separate from the women’s college. Raising money, retiring debt Hollins has had its own financial troubles and confronted the specter of admitting men, but it has come to a very different place than either of its Virginia sisters. In 2000, when debt was high, the endowment was shrinking and the campus needed repairs, Hollins solicited ideas from the university community and suggested that every possible solution would be weighed. Most of that community thought any solution but coeducation should be considered. Gray became Hollins president in January 2005, stepping into an ongoing fundraising campaign aimed at retiring its debt and increasing the endowment. The publicly announced goal was $125 million. The campaign raised $161 million by 2010. The endowment had grown to $171 million by 2015. Gray credits alumnae, faculty, trustees and “extraordinarily visionary donors,” people willing to give substantial amounts of money without getting a program or a building named after them in exchange. Since retiring its debt in 2007, the university has been committed to staying out of debt, paying for renovations and other capital projects through fundraising rather than loans. More than half the buildings on campus — including the theater, the student center, the humanities building, the dance studio and historic houses — have been renovated or updated since Gray took office. The university has added the Richard Wetherill Visual Arts Center and Eleanor D. Wilson Museum, drilled geothermal wells and is renovating the science building. Being debt free relieves pressure, Gray says, but she and her leadership team agreed early on that a large endowment was critical. “Those large endowments allow you to provide a measure of academic excellence for your students that exceeds what they can pay in tuition and fees,” Gray says. An ample endowment also allows “the institution to respond to great opportunities as they arise and to get through tough patches as they arise — both of which are inevitable in the life of any institution.” To celebrate the university’s 175th anniversary, Hollins is appealing to key donors with a quiet fundraising campaign that had raised $44.5 million by August. In November, Elizabeth Hall McDonnell and her husband, James S. McDonnell III, pledged $20 million to Hollins’ endowment. It’s the largest gift in the university’s history. Gray says Hollins has received two $1 million commitments since then, and another donor has offered $5 million if the university can raise another $10 million before Gray leaves campus on June 30. Graduate programs Hollins has leveraged its academic strengths to create more income, too. “We believe strongly that our core mission is undergraduate liberal-arts education for women,” Gray says. “We also, though, have built out now an array of 10 co-ed graduate programs that build on our undergraduate strengths.” Hollins’ first graduate program, in creative writing, was created in 1960 and may be the college’s biggest claim to fame. Most of the programs added since are related to writing — including playwriting, screenwriting and children’s literature. Hollins also offers graduate degrees in teaching, dance and liberal studies. Some offer summer residences on campus. “In the summer, we become a residential co-ed graduate campus,” Gray says. That allows Hollins to get more use out of its on-campus facilities and to bring in visiting faculty. “That’s been an important part of our income, in addition to the undergraduate tuition and fees,” Gray says. What’s made the programs work financially, Lambeth says, is they work academically. Instead of adding executive MBA or nursing programs, Hollins went with its strengths. “We’re small, and I’m not sure we have the luxury of a big innovation funnel — of looking at, ‘Hey, here’s what’s making money in the market. Let’s go do it,’” Lambeth says. “In a weird way, sometimes having to act within your resources makes you really pay attention to what you’re doing. You can squander a lot of money if you have a lot of money.” Lambeth sounds confident about Hollins’ future, although she acknowledges there will be challenges. “I think running a university is an incredibly complex task,” Lambeth says. “People in the world underestimate the incredible complexity of an academic institution. I’ve been in Fortune 500 companies, and I can tell you a university is every bit as complex as that universe is.” Gray has proved she can handle that complex job, Lambeth says, adding she believes the incoming president has that ability, too. “We’ve selected a leader capable of running a complex system at a complex time,” Lambeth says. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/LAW_Dyer.png “...I don’t think anyone should be making any plans long term based on speculation,” says Dustin Dyer. Photo by Rick DeBerry http://www.virginiabusiness.com/news/article/waiting-and-watching Waiting and watching http://www.virginiabusiness.com/news/article/waiting-and-watching http://www.virginiabusiness.com/news/article/waiting-and-watching#When:22:00:00Z Editor’s note: After this story went to press in mid-January, President Trump issued an executive order halting the flow of refugees to the U.S. from Syria indefinitely and suspending all refugee admissions for 120 days to allow more analysis to determine which countries pose the greatest threat. The order also implemented a temporary entry ban affecting citizens from Iraq, Iran, Syria, Yemen, Sudan, Libya and Somalia.The order sparked protests throughout the country. Almost immediately after Donald J. Trump’s November victory over Hillary Clinton, the phones at Dustin Dyer’s immigration law offices in Richmond were “ringing off the hook,” he said. “My clients are very concerned. Scared is also a good word to describe how they are feeling.” In public presentations and in private conversations with corporate executives, Richmond attorney Lakshmi Challa has been asked how likely President Trump is to follow through on campaign promises to sharply reduce immigration to the U.S. and harshly penalize companies employing undocumented immigrants. “Since shortly after the elections, the fears were really heightened because of all the rhetoric during the campaign,” she said. “The words he said … had an amazing chilling effect, given [clients’] concerns about what a Trump [administration] would look like in terms of the immigration landscape.” Trump launched his presidential campaign in mid-2015 pledging to build a wall along the entirety of the U.S.-Mexico border. Almost weekly throughout his run, he repeated his promise before cheering crowds to limit legal and illegal immigration in various ways to help U.S. workers get better jobs at higher wages. Virginia Beach immigration attorneys Radlyn Mendoza and John Gardner said their clients —small employers and individuals — began calling with their concerns starting last spring, as Trump began to emerge as the favorite to win the GOP nomination.  Companies are asking about reports that fewer work visas will be available. They also wonder if they should begin submitting all their employees’ work documentation to the national E-Verify database, ahead of a possible sweeping federal mandate for all American employers that has been favored by Trump and many of his advisers on immigration matters. Interviewed before the presidential inauguration, many Virginia immigration lawyers said they have given their clients the same advice: Don’t panic. Alone, say these attorneys, Trump can intensify enforcement of existing immigration laws and reverse completely, or in part, some of Obama’s most prominent executive orders related to immigration, like Deferred Action for Childhood Arrivals known by the acronym DACA. But to alter U.S. immigration law and the nation’s deportation procedures in major ways, Trump still needs the Congress to pass legislation and the Supreme Court to reverse longstanding precedents protecting the constitutional due-process rights afforded everyone, including undocumented immigrants, residing in the U.S.     “What I kept telling everyone is, truthfully, we don’t know what his administration is going to do,” Challa says, citing several post-election comments by Trump in which he softened or backed away slightly from some of his pledges. Echoing that sentiment, Dyer said, “I’m telling [clients] that, at this point, I don’t think anyone should be making any plans long term based on speculation. Nothing is concrete at this point, nothing is put into place. Obviously, he has a pattern of saying things that are somewhat inflammatory and then later he sort of rolls back some of that same rhetoric; we’ve all seen that.” Gardner added, “Generally speaking, we tell our clients that immigration change will come slowly.  Trump will likely start by simply increasing enforcement of existing immigration law…Bigger change will take time because it will require increased funding and manpower — both of which will need help from the Congress.” Trump’s promises to build a wall to seal the nation’s entire border with Mexico and severely restrict immigration from certain countries where Islam is the dominant religion were attention-grabbing cornerstones of his run for the White House. Much less publicized were his vows — made repeatedly in speeches, interviews and campaign position papers — to remove what he called the “magnet” of easy employment opportunities for foreign-born workers in the U.S. Trump and some of his most influential advisers on immigration — including attorney general nominee Jeff Sessions and the Federation for American Immigration Reform, (FAIR) — want much more focus on the U.S. workplace. In addition to cutting the annual number of U.S. work visas, immigration policy critics such as FAIR also favor sharply raising minimum, legally required salary levels for certain visas as well as charging companies hiring workers from other countries much higher application fees and administrative costs. Critics also want the Department of Homeland Security to ramp up the use of raids at companies hiring large numbers of immigrant workers and increase the financial penalties on managers and executives whenever undocumented workers are found. In its November update of a 2014 report, the Pew Hispanic Center said “unauthorized” immigrant workers hold almost 20 percent of all agriculture jobs, 13 percent of construction jobs, 9 percent of hospitality jobs and 6 percent of manufacturing jobs across the country.   Anthony Monioudis, with Woods Rogers PC in Roanoke, isn’t so sure increased workplace raids will be forthcoming or that stiffer fines on employers found to be paying undocumented workers will be enacted. “I do not think we will see a return to worksite raids and immediate removals like that which was tried under the Bush administration” and de-emphasized under President Barack Obama, Monioudis said in an email interview. “The negative backlash with regard to the manner in which it was done … leaving families split and children without one or both parents, is something I do not think either political party wishes to be identified with.”  Monioudis expects there may be some modest increases in workplace audits by Immigration and Customs Enforcement (ICE) officers as well as possible increase in fines against employers of undocumented workers. “However, I suspect there is a very careful balancing act in place here that the new administration may need to consider,” he said.  If immigration policy changes result in too many raids and too heavy a fine schedule, “the Republican Party may end up alienating too many members of its base and that could spell political trouble and loss of political contributions.”  To discourage employers from turning a blind eye to fraudulent or stolen identity documents often used by undocumented workers, Trump, Sessions and groups like FAIR have indicated they favor having Congress mandate that all U.S. companies — from Fortune 500 giants to small restaurants, landscapers and roofing companies — use the E-Verify system to confirm the legal immigration status of everyone they hire. Calls to make all U.S. companies screen new employees through E-Verify have been made to Congress many times since the original version of the application was launched in 1997, usually as part of larger legislation to reform the nation’s immigration system. But those proposals died after companies said obligatory use of E-Verify would be too expensive for small employers, and civil-rights organizations claimed the tool wasn’t sophisticated enough to protect workers’ rights to privacy and due process.   Now, with the House, Senate and the White House all under Republican control, universal use of E-Verify may stand a better chance of becoming law. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/BANK_BoA_cardless_ATM.png More than half of Bank of America’s 16,000 ATMS can conduct cardless transactions. Courtesy Bank of America http://www.virginiabusiness.com/news/article/cardless-atms Cardless ATMs http://www.virginiabusiness.com/news/article/cardless-atms http://www.virginiabusiness.com/news/article/cardless-atms#When:22:00:00Z If you’ve ever spent time digging through your purse, wallet or coat pockets for your debit card while an impatient crowd lines up behind you, Bank of America’s cardless ATM machines might be for you. Using smartphones, customers can upload their Bank of America debit card information to digital wallet apps such as Apple Pay, Android Pay, Samsung Pay and Microsoft Wallet. At cardless ATMs, customers open their digital wallet and hold their phones above a wireless symbol on the machine. They enter their PINs on their phones and can then conduct transactions, including withdrawing cash, transferring funds or checking their account balances. (Deposits are not yet available via Bank of America’s cardless transactions.) Bank of America, Wells Fargo and JPMorgan Chase all debuted cardless ATM technology in early 2016. So, far more than half of Charlotte, N.C.-based Bank of America’s network of roughly 16,000 ATMs has been upgraded to conduct cardless transactions, says Victor K. Branch, Bank of America’s Richmond region market president. “It’s the wave of the future, but at the same time traditional brick-and-mortar banking will be there as well, to give customers options and alternatives to interface with our banks,” says Branch, noting that other innovations on the way include a Spanish-language version of the bank’s mobile banking app. Digital wallet apps are enabled by a technology known as near-field communication, or NFC. It enables wireless, secure data transfers without an internet connection between compatible devices that are in close proximity to each other. Equipped with NFC microchips, the devices communicate by high-frequency radio waves. Cardless ATM technology is billed as a more secure way of conducting transactions because it defeats card readers and other methods of stealing debit card numbers and PINs. And there’s also this fact that in our selfie-crazed society: “I think people are more guarded about their phone than some of their debit cards and credit cards,” Branch says. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Steven_Yeake_N2A2470_copy.png Steven C. Yeakel, president and CEO of the Virginia Association of Community Banks Photo by Jay Paul http://www.virginiabusiness.com/news/article/looking-for-relief Looking for relief http://www.virginiabusiness.com/news/article/looking-for-relief http://www.virginiabusiness.com/news/article/looking-for-relief#When:22:00:00Z As far as community bankers are concerned, the road to Dodd-Frank was paved with good intentions, but it wound up in the same place as every other highway built from those materials. In its zeal to respond to the 2008 financial crisis, the bankers say, Congress didn’t consider the onerous regulatory burden that parts of the Dodd–Frank Wall Street Reform and Consumer Protection Act would place on smaller banks. After the election of Donald Trump as president and the GOP-dominated 115th Congress, however, community bankers and industry officials are optimistic about the chances for meaningful change. “We’re really anxious for regulatory reform,” says Steven C. Yeakel, president and CEO of the Virginia Association of Community Banks. “Our bankers are spending an awful lot more on compliance and an awful lot more on staff and financial resources for compliance issues, and when [regulations] protect the consumer, that’s a good thing, but we’re quite confident that the pendulum has swung too far.” Bruce T. Whitehurst, president and CEO of the Virginia Bankers Association, echoes that sentiment. “I think there is a more realistic chance in the [new] Congress than we’ve ever had since Dodd-Frank was signed into law in 2010 to make substantial revisions and improvements to Dodd-Frank and correct or rebalance the regulatory framework, particularly in terms of the burdens on community banks.” Wayne Abernathy, executive vice president for financial institutions policy for the Washington, D.C.-based American Bankers Association, expects a different emphasis from the Trump administration.  “We think growth and economic development is going to be the big theme going forward, frankly, from now and throughout the administration,” he says.       The Obama administration had “an almost exclusive focus on safety, making sure the bank has lots of capital, making sure their loans are ironclad,” Abernathy says, but it failed to take into account how those regulations impacted banks’ bottom line. Now that banking safety is stronger, it’s time to look at measures to increase growth, he says. ‘It’s overkill’ “I’m encouraged. I think it’s obviously a positive sign because now at least Trump says that he wants to roll back regulations,” says Susan Still, president and CEO of Roanoke-based HomeTown Bank. Under the Obama administration, she says, there was “a shotgun approach to regulation that puts community banks under the similar regulation as the largest banks. … [Dodd-Frank] was written in haste. It was kind of one-size-fits-all … It seems like it’s just been layers and layers of regulation on top of existing laws and more without seeing any clear benefit to it. It’s just expensive, it’s time-consuming, and it’s overkill.” For instance, HomeTown Bank has five full-time staff members solely devoted to compliance and regulations. “They do no business with our customers. It’s all internal, dealing with regulatory matters,” Still says. “These are senior vice president-type positions. They’re all experienced bankers that we’ve taken away from working with customers to [oversee] regulatory issues.” That’s a common complaint among smaller local banks. Having to devote staff and costly resources to compliance has in some cases driven mergers and acquisitions among community banks because “you need a certain scale to have the right sophistication level and asset bases to spread your [compliance] costs,” says John Depman, national leader for regional and community banking for the financial tax, auditing and advisory firm KPMG. “I talk to banks of all sizes and no matter what size bank I talk to, they feel that their regulatory burden is unfair … The banking industry is confident things are going to get better on the regulatory front” under Trump, Depman says. “Hopefully, they don’t have unrealistic expectations in terms of how far it can go and how much relief they can get.” For instance, he explains, much of the increased regulatory burden on community banks during the past 15 years was related less to Dodd-Frank and more to post-9/11 security measures intended to prevent terrorists from money laundering, and “I don’t think that’s going to go away.” In KPMG’s 2016 annual survey of community bankers, the majority of respondents estimated that compliance costs accounted for 5 to 20 percent of their budgets. While that’s a sizeable cost, Depman says, it also may reflect a new normal for banks. What will change look like? What regulatory relief could look like and when it could arrive is a topic of debate. In its simplest form, reforms could be included in an amendment to Dodd-Frank that would exempt community banks below a certain level of assets from many compliance rules, says Raymond P.H. “Pat” Fishe, a finance professor at the University of Richmond’s Robins School of Business. “That’s a pretty straightforward fix.” Repealing the entire Dodd-Frank law, however, would be virtually impossible because of its scope and complexity, Fishe says. Yeakel with the Virginia Association of Community Banks sees some core regulatory reforms that are needed first, including exemption from regulations governing capital requirements and lessening restrictions on mortgage qualifications. Additionally, Yeakel and others say that reform is needed to create a level playing field with credit unions, which unlike community banks, don’t pay federal taxes. Regulators have allowed the credit unions to expand their customer base and services to the point they have become real competitors for community banks, he says. There are pieces of legislation already in the pipeline such as the Financial CHOICE Act or the TAILOR Act of 2016 that could provide necessary, common-sense regulatory reforms for community banks, says Jeffrey M. Szyperski, president and CEO of Chesapeake Bank. A lot, however, still depends on bipartisan cooperation.  Senate Republicans don’t have the 60 votes necessary to end debate on a bill they want to pass. Additionally, some lawmakers on both sides of the aisle view Dodd-Frank as “sacrosanct,” he says. Nevertheless, Szyperski says, “I definitely think we’ll get some relief” under the new Congress and administration, “which is really badly needed right now.” Fewer pages in reports In fact, some relief already arrived before the end of 2016. The length of quarterly call reports that banks have to file was reduced from about 90 to 60 pages. That development occurred as part of a regulatory review process conducted every 10 years by the FDIC, the Federal Reserve and the Comptroller of the Currency in compliance with the Economic Growth and Regulatory Paperwork Reduction Act. The most recent review ended in 2015, and regulators began implementing and recommending reforms in late 2016. Adding to the momentum for reform is the fact that Trump this year likely will appoint a new FDIC chairman as well as a new comptroller of the currency and “there’s going to be a different mindset for the people who are going to be leading these agencies,” says Abernathy with the American Bankers Association. Additionally, groups such as the American Bankers Association will push for changes such as giving community banks more leeway in making mortgage loans to customers who are good credit risks but may not qualify under the current regulatory environment. “The key,” Abernathy says, “is banks are in the growth business, and we haven’t seen much growth in the last few years. The economy has been held back. We think if the banks can grow faster, the economy is going to grow faster.” 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/CONST_Sutch-0442.png Glenn Sutch, president of the Waterside District in downtown Norfolk. Photo by Mark Rhodes http://www.virginiabusiness.com/news/article/getting-back-on-track Getting back on track http://www.virginiabusiness.com/news/article/getting-back-on-track http://www.virginiabusiness.com/news/article/getting-back-on-track#When:22:00:00Z From the construction cranes at Tysons to a billion-dollar power station in Southern Virginia, major construction projects are in the works across Virginia. In addition, contractors are optimistic that more work could materialize under the administration of President Donald Trump. Before taking office in January, Trump was a billionaire commercial real estate developer with properties around the world.   Gordon Dixon, CEO of the Associated General Contractors of Virginia (AGCVA), says members “are cautiously optimistic … the growth is potentially there” from Trump-driven federal spending and the generally improving economy. Since coming out of the recession, Will Karbach, CEO of The Branch Group in Roanoke, says the average project size that his firm competes for has “increased significantly. What we’re seeing … are pretty healthy pipelines of work. It’s strong, we think, particularly for the next year.” While the industry waits to see if Trump’s promises of as much as a trillion dollars in new investment in public infrastructure pan out, the Waterside District in Norfolk is crawling with construction workers. They have been brought in by The Cordish Cos., the Baltimore-based company in charge of the overhaul of one of downtown Norfolk’s best-known attractions. “We’re in full construction mode right now,” says Glenn Sutch, president of the Waterside District. The $40 million, 125,000-square-foot redo of the old Waterside Festival Marketplace into a dining and entertainment venue broke ground in mid-2015.  The mixed-use development with restaurants, live entertainment and views of the Elizabeth River is expected to open in April. It will eventually employ about 1,000 people and is keeping a lot of subcontractors busy. “We have local plumbers, local electricians,” Sutch says. The project is good news for the region’s construction sector, an area that took big hits in recent years.  Dixon says the 2007-09 recession and ongoing cuts in federal spending in Virginia slowed construction activity.  “So much of Virginia’s economy has been in the past reliant on the federal government, and that’s drying up,” he says. Another major head wind is finding workers. “The discussions I hear amongst our members and their subcontractors is, they are having a hard time filling the job requirements. A lot of guys don’t have the workers to bid on certain projects,” he says. AGCVA is making a concerted effort to try to rebuild a pipeline of trained workers. That effort includes pushing for state funding for workforce development training and marketing “to convince people that construction is a viable career,” says Dixon. The demand for skilled workers is likely to drive up wages and make projects more expensive, but contractors really don’t have a choice. “There’s a lot of competition out there for workers,” he says. Dixon’s concerns were echoed in a 2017 national hiring and business industry forecast released last month.  “Contractors remain quite concerned about labor shortages, tight margins and growing costs,” said Ken Simonson, chief economist of the Associated General Contractors of America.  As Karbach of The Branch Group observes,  “The industry lost a lot of people in the downturn, and they didn’t come back. There’s generally a shortage of not just qualified people, but people.” Virginia now has about 188,500 people employed in construction, down from a prerecession peak of 252,500. That’s a 25 percent difference while nationally the current average difference from peak employment is 13 percent, according to Simonson.  “So Virginia’s really slow to recover,” he says. Despite the labor squeeze, big projects are moving forward. While Sutch’s group works to fill spaces in Waterside District, it already has leased space to more than a half-dozen tenants, including Rappahannock Oyster Co., Guy Fieri’s Smokehouse and The Fudgery. They’ll be located in a part of the project called The Market, which will have 30,000 square feet of space for restaurants and other dining options. Besides the Waterside renovation, downtown Norfolk also looks forward to this spring’s opening of The Main. The mixed-use development a few blocks away will include a conference center, a 300-room Hilton hotel, and entertainment and dining.  “There’s a lot going on right now; it’s pretty great,” Sutch says. One of the largest projects under construction in Virginia is the $1.3 billion Greensville County Power Station. Dominion Virginia Power broke ground in June on its new natural gas-combined cycle power station, which should be operational in 2018. It’s located on a 1,143-acre site that straddles Greensville and Brunswick counties.  When complete, the station is expected to produce enough power for 400,000 homes. Paul Koonce, CEO of Dominion’s Generation Group, said during the station’s groundbreaking ceremony that it would be the largest and the cleanest-burning gas-fired plant in the country. For contractors in the region, the project means jobs. At the end of 2016, there were about 700 workers on-site, and at the peak of construction there will be about 1,200, according to Dominion. When the station becomes operational, it will have about 45 employees. The counties expect to see some benefits, with Greensville getting about $8 million in property tax revenue from the station’s first year of operation. Construction projects frequently serve as economic development drivers, and that’s why localities are glad to get them. Downtown Richmond is in the midst of a project that should bring more people to the city.  A $90 million facelift for Main Street Station will renovate the train shed.  Started in 2014, the first phase of the project is scheduled to be finished this summer. Most of the funding comes from federal sources. The next step will be site work, and that project is being bid. It will involve developing various transit access points for buses, vehicles and pedestrians, and accessories such as charging stations for electric-powered vehicles, along with bike storage. The goal is “to make this a working multimodal transportation center,” says Jeannie Welliver, project development manager for the city. The project employs about 150 workers. It’s also designed to be a hub for retailers with about 20,500 square feet eventually available for lease. Click here for a list of other major construction projects underway in Virginia. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/CONSTR_capitolone.png Construction on Capital One’s new 930,000-square-foot headquarters tower is about 50 percent complete. http://www.virginiabusiness.com/news/article/major-construction-projects-around-virginia Major construction projects around Virginia http://www.virginiabusiness.com/news/article/major-construction-projects-around-virginia http://www.virginiabusiness.com/news/article/major-construction-projects-around-virginia#When:22:00:00Z Construction cranes are swinging in Virginia. There is activity across commercial real estate sectors and, with $1 billion in state funding expected this year  for road projects, highway construction should see a bump as well. Here’s a list of some of the major projects in Virginia’s metropolitan regions. Northern Virginia Tysons continues to see a boom after the expansion of Metro’s Silver Line. Three new high-rise buildings went up in 2016, and three more apartment projects are scheduled for completion this year. One of the largest projects is the headquarters expansion for Capital One Financial Corp. When complete in 2018, the company’s 470-foot tower will be the tallest commercial building in the Washington, D.C., area. The expanded campus also will include a 100,000-square-foot corporate center for training events and a Wegmans grocery store. When everything is built out, the massive 5 million-square-foot campus is expected to have two hotels and as many as four additional office buildings. Besides Tysons, Reston Town Center continues to grow.  Boston Properties is building its final residential development at the popular mixed-use center. The Signature, a 1.2-million-square-foot dual tower, is expected to be ready next year. The $150 million project will include 508 units in a 21-story West Tower and a 19-story East Tower. Amenities include a rooftop pool and 24,000 square feet of ground-floor retail. Rounding out the project are two six-story, low-rise buildings, with one of them housing two-story apartments. The general contractor is HITT Contracting Inc. In Vienna, the Navy Federal Credit Union is expanding its headquarters. The $88 million project includes a 244,000-square-foot office building and a parking garage with 1,184 spaces. Gilbane Building Co. is the general contractor.  The credit union also plans to invest $100  million to double the size of its operations center in Frederick County. Richmond/ Central Virginia   Richmond is seeing lots of grocery store openings and a slew of apartment projects in the city’s Manchester and Scott’s Addition areas. Plus, Richmond’s central business district has a new skyscraper under construction. Dominion Resources, a Fortune 500 company that already has its headquarters downtown, broke ground in December on a 20-story office tower. The 1-million-square-foot building is expected to be ready by late next year. It will house 5,000 square feet of retail on the ground floor and offices for more than 1,000 employees. Hourigan Construction Co. and its joint venture partner, Chicago-based Clayco, are heading up the design-build team.  Meanwhile California-based Stone Brewing Co. recently opened its 220,000-square-foot East Coast production facility in Richmond.  Under the $100 million-plus project, which the city helped finance, Stone opened a store and tasting room last year. An $8 million riverfront restaurant and beer garden near the city’s Intermediate Terminal docks are expected to follow by 2018. There is also talk of a hotel to serve the site. Hampton Roads Downtown Norfolk has several major projects underway. March brings the opening of a new luxury hotel and convention center. The Main, a 21-story project with a 300-room Hilton hotel, is a $150 million dollar project that’s expected to draw more convention business to the port city. The general contractor is W.M. Jordan. Two Commercial Place in downtown Norfolk is being renovated as the new home for ADP. The New Jersey-based human resources firm is investing $32 million to establish a regional customer service center. The 10-story, 285,000-square-foot building is being fitted with new glass and glazing, and its interior is undergoing major changes as well.  Marathon Development Group owns the building, and Hourigan Construction is the general contractor. Hospital expansions represent another active sector. Sentara Virginia Beach General Hospital began a $49 million modernization of its patient-care areas this month. Among improvements is the consolidation of three intensive-care units, the addition of a new surgery wing and the renovation of four operating rooms. The project is expected to take about 30 months and will create 75 to 100 construction jobs during peak activity. Whiting Turner is the general contractor. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Money.png http://www.virginiabusiness.com/news/article/bonus-bonanza Bonus bonanza http://www.virginiabusiness.com/news/article/bonus-bonanza http://www.virginiabusiness.com/news/article/bonus-bonanza#When:22:00:00Z What says it better than money? Well, perhaps nothing. Maybe that’s the reason that many of the companies on the Virginia Business list of best companies to work for don’t mind doling it out — above and beyond salaries. The extra cash comes in the form of bonuses for a job well done, in gift cards, in expense-paid trips to exotic locales or a local resort, in profit-sharing arrangements, and in sweetened retirements. One health-care company offers a car for exceptional performance, so does an insurance company. Many of the companies like to reward employees for referring prospective employees. For example, at Grow, a marketing and public relations firm in Norfolk (sixth on the Small Employers list), it pays handsomely to bring in a competent teammate. The company offers $4,000 each to employees when hirings are made as a result of their referrals. Not to be outdone, Resonate, an advertising, public relations and marketing firm in Reston (No. 53 among Small Employers), pays $5,000 for a successful employee referral. At Lynchburg-based Scott Insurance (No. 22 on the Large Employers list), employees referring successful sales candidates receive $5,000 and are entered in a drawing to win a $30,000 car. The drawing occurs every two years. At the IT services firm Concept Plus LLC in Fairfax (No. 58 among Small Employers), you get not only a bonus for a successful referral — up to $3,000 based on the position being filled — but also an iPad. A number of other companies offer around $1,000 for a successful recruit. If you want to make an employee smile, just say “bonus.” Many companies are big — and sometimes really big — on bonuses. At the Consumer Technology Association in Arlington, all full-time employees are eligible for bonuses. Junior staff can receive bonuses equal to 10 percent of their base salaries; at the director level, it’s 15 percent; and for vice presidents and above, 20 percent. Employees in the sales department are eligible for commissions as well as the bonuses. VPs and above are eligible for a deferred compensation retirement plan and a TV in their office. Independent Container Line Ltd. (No. 10, Small Employers), has a profit participation bonus funded by 2 percent of company profits. Bonuses are distributed shortly after close of the fiscal year. The Ashburn-based consulting company Infinitive (No. 56, Small Employers) has a “Be Great Bonus Program” based on performance. Nonexecutive employees generally receive 8 to 12 percent of salary, according to Infinitive. Chantilly engineering firm Ingenicom Inc. (No. 9, Small Employers) awards spot bonuses to employees whose performance or support is praised by customers. If you are a sales employee at Carfax, a vehicle history information company in Centreville (No. 19, Large Employers), you can earn commissions, annual bonus and special contest incentives including gift cards, vacation holidays, TVs and computers. A few can win new cars. Healthy habits pay at Bon Secours Virginia, a Richmond-based health system (No 23, Large Employers). Employees on a Bon Secours medical plan are eligible to earn $900 by completing health/well-being requirements. The money is deposited in health reimbursement accounts as it is earned. At Fairfax-based consulting company ATSG Corp. (No. 54, Small Employers), stellar employees can earn cash bonuses and have their names emblazoned on the “Crystal Award.” Top employees can earn trips to go along with their bonuses. At Aerotek, a staffing company in Virginia Beach (No. 15, Large Employers), high producers can pack the suntan lotion and sunglasses for a vacation in Cancun or Miami. Higher Logic, a technology firm in Arlington (No. 26, Small Employers), offers sales team members who meet their quotas and reach other goals an expense-paid trip to the Caribbean with the executive team. For those not in sales, the company raffles off additional spaces for the trip. MassMutual Commonwealth, a financial services firm in Virginia Beach (No. 24, Small Employers), sales associates can qualify for up to five company trips. One recent excursion was a golf trip to the Pinehurst resort in North Carolina. At HumanGeo, an Arlington-based technology firm (No. 5, Midsize Employers), all employees meeting outstanding performance standards are eligible to win a weekend at a condominium in Stuart, Fla. At Defense Point Security LLC, a technology company in Northern Virginia (No. 2, Midsize Employers), top producers can qualify for a “president’s weekend” at a local resort. There are bonuses, too, including $10,000 for the top employee of the year. Doing a good job can be its own reward. But for employees who can qualify for bonuses, trips or a fistful of cash, it’s just a little sweeter. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Richwine-0501.png Marine Corps veteran Bowen Richwine of Corps Solutions now has more time to spend with his sons. Photo by Mark Rhodes http://www.virginiabusiness.com/news/article/time-for-a-life Time for a life http://www.virginiabusiness.com/news/article/time-for-a-life http://www.virginiabusiness.com/news/article/time-for-a-life#When:22:00:00Z (Scroll to the bottom for a gallery of images from the 2017 Virginia Business Best Places to Work awards luncheon.) In previous generations, work was everything. For some, it still is. Yet many in a rising generation of workers say they want more. They want flexible schedules that permit time to be with their families or to engage in community projects. In other words, time for a life beyond the workplace. A 2014 Heartland Monitor Poll — sponsored by Allstate Insurance, The National Journal and The Atlantic magazine — found that, if given the choice, two-thirds of Americans would choose “more flexibility and shorter hours … but less pay.” In that same poll, 77 percent of millennials — who have supplanted baby boomers as the largest living generation — say it’s important to have “the flexibility to work at different hours.” The pursuit of a balance between work and life is clearly a priority — or is rapidly becoming one — among today’s workers. And that trend is reflected in the number of companies that offer flex time and openly acknowledge the desire of their employees to have more balance in their lives. Dozens of companies on Virginia Business’ annual list of Best Places to Work in Virginia tout flexible hours, telecommuting, parental leave or other family-friendly benefits. Other companies give a nod to work-life balance with 35-hour workweeks. They include the Consumer Technology Association and Healthcare Distribution Alliance, both based in Arlington. Still others offer telecommuting options and shortened workweeks during the summer, such as Vaco in Richmond that releases workers at noon on Fridays during summer hours. This is the seventh year that Virginia Business has compiled the Best Places to Work list in cooperation with the Best Companies Group, a Pennsylvania-based firm. In late 2016, 175 companies registered to become one of Virginia’s Best Places to Work in 2017. One hundred were selected in three categories: small (15-99 U.S. employees), midsize (100-249) and large (250 or more). Best Companies Group benchmarked the companies on a list of core values: leadership and planning; corporate culture and communication; role satisfaction; work environment; relationships with supervisors; training and benefits; pay and overall employee engagement.       Martinsville bright spot In Martinsville, good jobs are hard to find a decade after the collapse of the textile and furniture industries. The region’s unemployment rate typically trends higher than the state or national average. In October, for example, the unemployment rate in Martinsville stood at 6.7 percent, compared with a state average of 4.2 percent and a national average of 4.6 percent. American Global Logistics, a specialist in global and domestic shipping services, is one of the bright spots in Martinsville’s economy.  It is ranked No. 13 on the Small Employers list. Jon Norman, the company’s manager, says the company is committed to creating a family atmosphere in a business that is fast-paced and often stressful. “What we’ve discovered is that it works best when you provide employees with a flexible schedule,” he says. “It helps them work out child care [issues] and doctors’ appointments. When we give our employees an ability to work from home, there’s a palpable increase in morale. It also makes them more accountable for what they do.” Among other duties, the company’s 70-plus workers in Martinsville help coordinate shipping from factories in Asia and importers in the U.S. Norman says many of his employees have come from jobs at local factories that have closed. These workers are driven to improve themselves and help their families. Some have earned degrees at local community colleges, and others have completed technical training courses to improve their skills. Norman says the company puts a lot of trust in its employees and gives them a lot of responsibility. “We’re looking for self-starters with critical thinking [skills]. The main thing is having an attitude that you can tackle anything without being overwhelmed,” Norman says.  “No one is micromanaged … everybody owns their own work. They take pride in what they do,” he says. There are no set vacation days for employees and no time sheets. When someone needs a day off, they can take it as long as their accounts are in order, Norman says. “This is a small town. We know people have their needs,” Norman says, explaining the reason for the flex-time arrangement and the other accommodations the company has made.  “It’s been super successful,” he says. Time with his sons Bowen Richwine, director of business development at Corps Solutions in Stafford County (fourth on the Midsize Employer list), appreciates the fact the company allows its employees to tailor their work hours to fit their lives. Richwine spent 20 years in the Marines, retiring as a lieutenant colonel. Long periods of time in hostile territory were frequent. And they took their toll on his family, especially his relationship with his three sons, now ages 6, 11 and 12. “When I was in Iraq, I missed whole years of their lives,” says Richwine. At Corps Solutions, which provides training and support for the Marine Corps and other national security stakeholders, Richwine says he found a “family-friendly” employer. For the first time, he was able to have breakfast with his sons, coach their sports teams or watch them play. Work flexibility also has enabled Richwine to pursue a doctorate in education. Trust and accountability have a big role in making flexible work hours successful, Richwine says.  “We play by big-boy rules,” he adds. Corps Solutions has about 70 employees in Virginia and 190 nationwide. Achieving a balance Faith Driggers is a human resources manager at VHB (No. 18 among Large Employers), an engineering firm based in Watertown, Mass. It has four offices in Virginia: Richmond, Tysons, Virginia Beach and Williamsburg. Driggers says that, for members of the millennial generation, work is a big part of who they are, but it is not everything. She says that for her father, a baby boomer, work was engrossing. Her dad, she says, would work long hours at the office and then spend more hours at home working into the night.  “He’s sometimes surprised by the flexibility I have,” she says. That flexibility stems from VHB’s philosophy and core values. “We believe in achieving a balance between professional and personal lives, and we want to work with our employees to see what that looks like,” Driggers says. For some employees, being able to arrive later in the morning enables them to take a child to school. Others are caregivers for elderly parents. They want to come in and leave earlier to relieve another caregiver. A changing culture When Perry Frazer went to work 20 years ago for the commercial real estate firm CBRE (No. 6 on the Large Employers list), one rule was consistent. “We were encouraged to come in early and leave late,” says Frazer, managing director of the firm’s Hampton Roads office. Time with family often suffered. With the communications offered by smart phones and other devices, Frazer says, you can work just as many hours — or maybe more — outside the office, while still being able to maintain a family life. The culture has changed, he says, and younger employees support that change. “We let our employees figure out on their own how to get the work done and where they need to be,” Frazer says. To give the workplace a family vibe, CBRE provides a light breakfast for employees and recently staged a pie-baking/pie tasting competition. Who’s online? How do you implement work-life balance at a company where the expectation is that you’re on call 24/7? That’s one of the challenges at the Association Resource Group (ARG) in McLean, a technology consulting firm with 55 employees (No. 59 among Small Employers). Everyone at the company receives a free iPhone and iPad to keep them connected. “We’re always on,” says CEO Greg Praske. “The expectations have increased, and the pace is extraordinary. If not properly managed, a work day will have no beginning and no end.” One way the company manages is through technology that shows which employees are online. With that information, if a client calls with an urgent request after hours, a manager doesn’t have to call a mother or father who is offline, struggling with a 2-year-old with a bad cold. Instead, an employee who is already online can respond. “It helps us set boundaries,” says Erica Lord, the company’s director of business development. ARG gives employees the option of working from home on Fridays. Praske believes that in commuter-challenged areas such as Northern Virginia an out-of-office workforce might be increasingly common. “We’re rapidly seeing that being anchored in an office is not a requirement for being productive,” he says. “Companies are moving their servers out of the back room to the cloud. You will have access anywhere.” One of the ways that companies help employees achieve work-life balance is to involve them in community activities. One effort at ARG originated from an experience Praske had at church. On one Sunday, he was handed a $20 bill when he walked in the church door. “I said, ‘What’s going on here?’” Praske recalls.  Church members were asked to take the $20 and perform a good deed. On several occasions Praske has given employees $100 to spend on good deeds. In honor of the company’s 25th anniversary, employees received $250 to perform random acts of kindness. “We’ve had these amazing stories,” Praske says. One employee bought jump ropes and chalk and gave them to children in a needy neighborhood. Then, she took her own $100 and bought more toys. Another employee went to a transit station and purchased free fare cards for tourists. “The stories are unbelievable,” Praske says, explaining that employees are asked to write down how their acts of kindness affected others. “Reading each other’s stories inspires us and challenges us,” Praske says. And for a few moments, it gives employees a chance to reflect on the fact that there’s more to life than work. Virginia Business Best Places to Work 2017 Best Places to Work Multiple Year Winners Top Small Employer: NuWave Solutions and List of small employers Top Midsize Employer: Dynamis Inc. and List of midsize employers Top Large Employer: Accounting Principals and List of large employers Related story: Bonus bonanza Below is a gallery of photos from the 2017 Virginia Business Best Places to Work awards Luncheon held February 2nd at the Williamsburg Lodge.  Please contact Art Director, Adrienne Watson at arwatson@va-business.com with the image number if you would like a copy of your photo for your company press release. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Haymore-6338.jpg Haymore says party politics go away when working on economic development. Photo by Mark Rhodes http://www.virginiabusiness.com/news/article/the-go-to-guy The go-to guy http://www.virginiabusiness.com/news/article/the-go-to-guy http://www.virginiabusiness.com/news/article/the-go-to-guy#When:22:00:00Z Todd Haymore recalls his father giving him a piece of advice at an early age. “He said, ‘Todd, you are never going to be the smartest person in the room … but you can be the hardest-working person in the room,’ ” says the Danville-area native, Virginia’s secretary of commerce and trade. That commitment to hard work has paid off for Haymore, 47, who has served as a top state official in the administrations of three governors. Haymore left a career as an executive at Richmond-based Universal Leaf Tobacco Corp. in 2007 to become commissioner of the Virginia Department of Agriculture & Consumer Services under then-Gov. Tim Kaine, now a Democratic U.S. senator. Since then, Haymore has served as the state’s secretary of agriculture and forestry in the cabinets of former Govs. Bob McDonnell (a Republican) and Terry McAuliffe (a Democrat). Last year he succeeded Maurice Jones as McAuliffe’s secretary of commerce and trade. Haymore says his efforts to improve Virginia’s agriculture and forestry industries were continuous throughout the three administrations. “What we tried to start under Kaine, we actually got to do under McDonnell, and we got to finish what I consider the build-out under McAuliffe,” Haymore says, adding Basil Gooden, his successor as secretary of agriculture and forestry, “gets to take it to another level.” Haymore’s current post has brought him different responsibilities. He’s tasked with elevating the commonwealth’s economic development efforts and overseeing 13 agencies and two organizations. That group includes the Virginia Economic Development Partnership (VEDP), a state authority that recruits new businesses and helps existing companies expand. At the end of last year, the commonwealth had more than 300 active economic development projects in the pipeline. Haymore anticipates another 10 to 12 projects will be announced by March 31. The commonwealth has seen $14.3 billion in new private sector investment since McAuliffe took office. The governor hopes that number will increase to $20 billion by the end of his term, Haymore says. VEDP came under intense scrutiny last year. A state watchdog agency, the Joint Legislative Audit and Review Commission, issued a scathing report in November highlighting VEDP management problems it said could make the state vulnerable to fraud. McAuliffe and Republican legislative leaders have unveiled conflicting proposals for correcting VEDP. The governor’s plan would make the secretary of commerce and trade the permanent chairman of VEDP’s board.  House Republicans have introduced their own overhaul plan that would reduce the size of the 24-member board and require members to have experience in business.  Under this plan the board chair would not be a member of the governor’s cabinet. While Haymore worked in private industry before becoming a state official, he was no stranger to the public-sector arena. His father, H.F. Haymore Jr., served as a Pittsylvania County circuit court clerk for more than 30 years. While an undergraduate at the University of Richmond, Haymore served as an intern for former state Sen. Onico Barker. (Haymore graduated from UR in 1991 and earned an MBA from VCU in 2004.) After graduating from UR, he became a legislative assistant and communications director to then-U.S. Rep. L.F. Payne, D-5th District.   Where is Haymore headed after his current appointment ends in 2018? He doesn’t know for sure but thinks he may go back to the private sector.  “We’ll figure out the future when it gets here,” he says. “I am loving — loving — being commerce and trade secretary and learning all the things that I didn’t know about and trying to fill all of those missions that the governor has laid out for us.” Virginia Business editors interviewed Haymore in December at the state Capitol. Virginia Business:  What has it been like to work for three different administrations? Haymore:  It’s been incredibly fun.  I’ve said to people publicly and privately I’ll be indebted to Tim Kaine, Bob McDonnell and Terry McAuliffe for the rest of my life for the opportunities that they’ve given me. [When Kaine initially asked him to serve as commissioner of the Virginia Department of Agriculture & Consumer Services, Haymore rejected the offer.] Thankfully, he called me back … I called my friend Whitt Clement [a former state delegate and cabinet member who now is a partner at Hunton & Williams in Richmond]. I said, “Governor Kaine and Chief of Staff Bill Leighty called me back, even though I’ve said, no.” Whitt started laughing … and he said, “They’ve got you, buddy boy… You can tell a governor ‘no’ once, but if you tell a governor ‘no’ twice you better find another state to live in.” I was 37 at the time, and I was thinking more about where I was in the private sector … and the life that I was living.  I was traveling around the world.  I was enjoying an incredible career at Universal.  They had been really good to me … It was a tough decision, but I’m really glad that I did [take the job].  VB: Have you thought about running for office? Haymore:   Have I thought about it?  Sure … When [then-U.S. Rep.] Robert Hurt announced he was retiring, there was a big push by a number of very kind people in both parties. [They] reached out to me and asked me if I was interested in running for the fifth congressional seat since it was home, and I had worked as a staffperson for Congressman Payne and knew Robert very well. We grew up together in Pittsylvania County. I was honored, and I thought about it.  It was about this time last year … because I spent some of the time on Christmas break talking to people about that and taking phone calls and a few meetings.  It’s just not a priority.  I’ve got young kids, three young [girls]. There are times when I don’t feel like I’m being a good [father and husband] because I’m gone so much, and my hours are so unpredictable and to think about the hours that members of the Senate or the House of Delegates or congressmen put in. I’m honored that there have been those discussions and outreach, but right now, I think it’s safe to say, I don’t have any plans to run for anything. VB:  Virginia has been a major agricultural exporter to Cuba.  What impact do you think the Trump administration is going to have on the state’s exports? Haymore:   It’s going to be interesting.  Having spent some time with [Trump] over the last few years, because of the winery that he purchased in Charlottesville and having worked directly with his son, Eric, I’ve gotten the opportunity to have some business discussions with Trump and his son. I view him as somebody who understands that we live in a globalized society, and the movement of products and goods around the world is key to our economic prosperity here at home.  I hope that the Trump administration will help businesses here in America continue to move their products around the world because more than 90 percent of the world’s customers are outside of the United States of America.  …  The more products we move in the global marketplace from Virginia, the more opportunities that are here for our companies and to hopefully help them to expand and reinvest more capital here. [In regards] to Cuba, I think, it’s to be determined.  We know that Trump businesses had looked at potentially doing something in Cuba when the embargo was over, and there was the ability for U.S. companies to invest in Cuba, and then … we’ve heard [Trump say] maybe something a little bit different.  I’d like to think that [with Trump taking office] that we’ll see a continued opening of the relationship with Cuba so that more of our products [are sold there], more of our businesses can invest there. VB:  Governor McAuliffe has introduced a proposal to reform the Virginia Economic Development Partnership. Does it have a chance of being passed in the Republican legislature? Haymore:   Word for word, as we’re introducing it?  Probably not.  This is going to be just like any other major piece of legislation.  There’ll be compromises.  I think the safe thing to predict is: There will be a VEDP reform package that will emerge from the General Assembly this year, that will be signed into law, at some point in 2017, by Governor McAuliffe.  VEDP is an outstanding organization … Great people there, and they are fulfilling their mission.  … but that doesn’t mean there can’t be more accountability and oversight put in place to make sure that it is running as effectively and efficiently as possible. We think we’ve put together a very thoughtful package, one that retains a lot of authority that the board currently has, including the ability to hire and fire the CEO. The only clear authority that I [now] have, as secretary of commerce and trade acting on behalf of the governor, is the approval of the Commonwealth Opportunity Funds [or COF, financial incentives for companies that create new jobs and investment in the commonwealth] … If VEDP chose to not deal with the secretary of commerce and trade on anything but the COF process or those incentives, they could do it.  That would be, obviously, a weird situation … I firmly believe that they should remain an authority so they can move at the speed of business. They need to be different than a traditional state agency … But I think from the standpoint of being a good steward of taxpayer dollars, there should be more accountability up through the secretary to the governor ...  I’ve said to several members of the General Assembly, “If you all want to criticize me or criticize the governor about VEDP’s action you should have the right to do that.”  Right now it’s hard to point that finger at a governor or secretary and say, “Why are you letting this happen?”  I do believe, based on the conversations we’ve had with the Senate and House members, and dialogue with staff, there will be a reform package.  It just remains to be seen what it is.  I feel strongly about that.  We all recognize that we need it because VEDP is far too important for the state of Virginia not to have a good reputation and a good working relationship with the General Assembly, with the executive branch.  VB: If you were chairman of the VEDP board what would you do differently? Haymore:   If I was chairman, it would [be my] responsibility [to make] sure that VEDP was doing everything that they were supposed to do as far as being the stewards of taxpayer dollars but also implementing the strategic plan for economic growth and prosperity of the commonwealth. [An arrangement making a cabinet member chairman of the VEDP board] is very similar to the Commonwealth Transportation Board.  Secretary [Aubrey] Layne, or whoever the transportation secretary is, is the standing chairman of the Commonwealth Transportation Board.  We didn’t invent this.  This is where you’re borrowing from another model that seems to be working fairly well. I have no desire, [and] I don’t think the governor has any desire to micromanage the day-to-day operations of VEDP.  That’s not what that standing chairmanship is about, but it does establish that clear accountability to the executive branch for millions and millions of dollars that are being spent or used as incentives to make Virginia have economic prosperity … Anyone who wants to say that that setup would destabilize the board or politicize it, I just don’t think that’s the case.  VB:  You’re from Southern Virginia, which has been struggling [economically] for a number of years.  Has that influenced your concerns about creating jobs? Haymore: There’s no doubt that growing up where I grew up and then watching what happened to that part of the state in the mid- to late-‘90s and early 2000s has shaped me. I had friends who I went to high school [and grade school] with who lost jobs, who had to scramble for a while.  In some cases, they had to move to other places, and that stays with you.  That would stay with me even if I was still at Universal Leaf Tobacco or if I was in the private sector elsewhere.  [You] just don’t want that to happen.  Fortunately … that area of the state is coming back.  We just did our sixth economic development announcement in Martinsville-Henry County this year.  I think Danville, Pittsylvania County has had four, and they’re diversifying their economy, becoming more known for some advanced manufacturing. Even agriculture, the tobacco industry, has made a rebound there because of the investments that [JTI Leaf Services] has made in Danville … Obviously, Southwest Virginia is still having some struggles, and we’ve got some projects that we’re working on in that region that I hope [come to fruition]. I can assure you the governor thinks about those regions every day … the Shenandoah Valley, Southwest, Southside, the [Northern] Neck and the [Eastern] Shore … VB:  Is there anything that we didn’t ask you that you want to add? Haymore: I love what I’m doing.  As you can tell, I’m passionate about economic development, global trade because I think those things are going to help Virginia continue to be one of the best states in America. I really do believe that we are in a position to capitalize on these new opportunities whether they are cyber, bio, more advanced manufacturing. We are so blessed as Virginians, not only because we live here and the incredible history [Virginia has], but all the natural assets that we have. I learned that, in helping support the governor and VEDP with the recruitment of Stone, Deschutes and Ballast Point [breweries] … Those companies were really, really interested in quality of life.  Every project is always about workforce, human talent, the capital coming in that way, but we’re hearing more and more about companies that want to be in a place where there’s maybe less traffic [and] a little slower lifestyle. … The governor always talks about how he’s always fired up. I’m always optimistic about where things are even when times are tough.  We’ve all had times where we’ve had to trim budgets during [the past three administrations]. Even when times are tough and when you’re down, make those strategic investments so when you come out, it’s almost like buying stock when it’s low.  You buy it when it’s low because you know it’s going to go up again. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Diehappy.png Shawn Boyer’s new app, DieHappy, will ramp up marketing this year. http://www.virginiabusiness.com/news/article/snagajob-founder-talks-about-new-startup Snagajob founder talks about new startup http://www.virginiabusiness.com/news/article/snagajob-founder-talks-about-new-startup http://www.virginiabusiness.com/news/article/snagajob-founder-talks-about-new-startup#When:22:00:00Z Snagajob founder Shawn Boyer is back with a new startup, DieHappy, an app that he describes as being “similar to Facebook but more intentional and intimate.” The app, currently available for free in the Apple store, helps people plan and share life’s events with those they are closest to, like their family or best friends. Boyer started Arlington-based Snagajob.com in 2000 and developed it into one of the largest job recruiting sites in the nation. He’s still a shareholder but says “100 percent” of his professional time now is dedicated to DieHappy. He founded the company in 2015 and currently serves as its CEO. DieHappy is located in downtown Richmond and has seven full-time employees, six of whom previously worked at Snagajob. Boyer says the name “DieHappy” is meant to differentiate the app from millions of other apps and inspire people to ask what makes them happiest in life. One way DieHappy stands out is that there’s no “friending” and each post is private by default and has to be specifically shared with contacts. Users can share pictures through the app and plan events by voting on dates that work best for them and sending their RSVP. Although DieHappy is not yet profitable, the plan is to eventually generate revenue through referrals. For example, if people make restaurant reservations through OpenTable  — an online reservation platform — while in the DieHappy app, DieHappy gets paid by OpenTable for sending it traffic. Users also can make photo books through the app and buy a digital picture frame that pulls in pictures from the app. By December, the company had raised $1.5 million from investors and expected to raise half a million more in the next few months. This year the company will focus on releasing an Android version of the app and marketing so it can grow its user base — a couple thousand people as of 2016. Boyer says one of the biggest challenges at this stage is driving users to a consumer-oriented product, as opposed to Snagajob, which filled more of an obvious void. “It’s not like people are saying ‘I’ve got to find a better way to plan to do things with my friends today or otherwise I’m not going to make rent,’” he says. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Johnston_and_Jobse_9289.png Hooks Johnston and Pete Jobse http://www.virginiabusiness.com/news/article/inova-begins-investment-accelerator-programs Inova begins investment, accelerator programs http://www.virginiabusiness.com/news/article/inova-begins-investment-accelerator-programs http://www.virginiabusiness.com/news/article/inova-begins-investment-accelerator-programs#When:22:00:00Z Hooks Johnston and Pete Jobse are leading two initiatives that have the same goal: Using innovation to improve patient outcomes and health-care operations at Falls Church-based Inova Health System. They are the managing directors of Inova Strategic Investments and the Inova Personalized Health Accelerator.  “Our goal is to seek out the latest technologies and get them quickly into the point of care at all of our facilities,” says Johnston, a co-founder and former general partner of the Vienna-based venture capital firm Valhalla Partners, which manages two funds totaling $440 million and has investments in 43 companies. Jobse is the former CEO of the Herndon-based Center for Innovative Technology. At CIT, he created and led the Mach37 Cyber-Accelerator, the first cyber security-focused accelerator in the U.S. Johnston and Jobse see the Inova initiatives as compelling career challenges. They could help make the “world a better place and provide significant value to the health system in improving patient outcome and driving economic development in Virginia,” Johnston says. Inova Strategic Investments will invest in funds specializing in health-care and related technology ventures. It also will invest in companies aligned with Inova’s priorities, such as advanced analytics, innovations in safety and advances in information technology. Inova Personalized Health Accelerator will assist in the development of startups focused on improving patient care, predicting and preventing disease, lowering costs and improving health outcomes. “We are using a very panoramic view to take the health system to the forefront of technology,” Johnston says. Inova Strategic Investments is expected to be up and running early this year. It has inherited a portfolio of six investments “We have made one investment already and we have two deals in the pipeline,” Jobse says. He expects to see companies in the accelerator program working on data analytics and the next generation of health-related and diagnostic-related devices as well as sensor-based technology. “We also anticipate seeing devices such as sensor systems like the Apple watch that can be used to remotely monitor patients” after they have had operations, Jobse says. Both programs are housed in the 117-acre Inova Center for Personalized Health campus, the former ExxonMobil headquarters located in Fairfax County. The health system bought the property in 2015 for $180 million. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/SWVA_Vet_School.png More than 300 students attend Lincoln Memorial University College of Veterinary Medicine. http://www.virginiabusiness.com/news/article/tennessee-veterinary-school-crosses-state-lines Tennessee veterinary school crosses state lines http://www.virginiabusiness.com/news/article/tennessee-veterinary-school-crosses-state-lines http://www.virginiabusiness.com/news/article/tennessee-veterinary-school-crosses-state-lines#When:22:00:00Z The Lincoln Memorial University College of Veterinary Medicine is the newest vet school in Tennessee — and in Virginia. In fact, it’s the newest in the country. While some of the school’s facilities are on the main LMU campus in Harrogate, Tenn., students get their hands-on training 12 miles away in Ewing, Va., at the DeBusk Veterinary Teaching Center. The campuses sit on either side of the Cumberland Gap. “Pete DeBusk is the chairman of the board of trustees,” says John Dascanio, the vet school’s executive associate dean. “He’s a benefactor of the university and a great friend of the university.” A Virginia native, DeBusk is the owner and chairman of DeRoyal Industries in Knoxville, Tenn. He has an Angus farm near Ewing, a Lee County community, and donated part of his property to the fledgling school. “That facility became sort of an ideal solution to where we could keep our animals,” Dascanio says. LMU, a private university offering bachelor’s, master’s and doctoral degrees, was chartered in 1897.  The vet school welcomed its first class of 87 students in 2014. It has just over 300 students in three classes now. Those students spend about half their day on the Harrogate campus and the other half at the DeBusk center in Ewing. During their final year, they’ll also spend time with vets and at veterinary hospitals that have partnered with the school to give students real-world experience. Before they enter that final year, Dascanio says, students deal with a variety of animals, ranging from household pets to beef cattle. While the majority of students will probably work in small-animal practices, they need to be prepared, Dascanio says, for the occasional goat or pot-bellied pig. “We also want to open students’ eyes to all the possibilities out there,” Dascanio says. Students who grow up in suburbia may think of vets as small-animal doctors because that’s what they’ve seen. Introducing students to cows and horses may open up a new world, but most still end up in small-animal practices. “I think a lot of people choose large-animal [practices] because it’s a lifestyle choice more than anything else,” Dascanio says. “They enjoy being around farm animals. They enjoy being around farmers.  They want to contribute back to agriculture. That’s sort of a different goal in life.” An economic impact study conducted before the first class entered the vet school defined its primary impact area as 14 counties in Tennessee, 10 in Kentucky and three in Virginia. In its first year of operation, the school was predicted to have a $16.6 million economic impact. That impact was projected to grow as the school grows. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/DRONE_1.png Covington is hosting Stone Blue Airlines’ drone festival in May. http://www.virginiabusiness.com/news/article/economic-potential-seen-in-drone-flying-circus Economic potential seen in drone ‘flying circus’ http://www.virginiabusiness.com/news/article/economic-potential-seen-in-drone-flying-circus http://www.virginiabusiness.com/news/article/economic-potential-seen-in-drone-flying-circus#When:22:00:00Z Stone Blue Airlines’ Flying Circus FPV Festival started four years ago in Wise.  The Southwest Virginia town is four hours away by car from Stone Blue’s Lynchburg headquarters, but that didn’t deter Stone Blue’s owner, Jeremiah Guelzo. He says a group of people in Wise were interested in his aircraft, and the location was perfect for the event. “When you’ve got somebody that’s interested and wants you to be there, I want to go down there,” he says. The next festival will be May 18-21 in Covington, which sees big potential for Guelzo’s small aircraft. Despite its name, Stone Blue isn’t an airline. The company builds and sells all sorts of drones and other remote-controlled aircraft. Most of these aircraft differ from other remote-control planes in one very important way. They have onboard video systems and transmitters. Pilots on the ground wear goggles showing them what the plane-mounted cameras see just as if they were on board. “This is remote-control aircraft with a video system,” Guelzo says. “That’s all it is.” But that makes all the difference. These aircraft don’t have to always be visible to the pilots, so they can race in an old iron mine illuminated with colorful LEDs, as they did at the Flying Circus last year in Covington, or in an old school building, as they plan to do this year. “It’s the NASCAR of the future, is what they say,” Marla Akridge says. “After I’ve seen it and watched it on TV and experienced it, I think they’re right.” Akridge is executive director of the Alleghany Highlands Economic Development Corp. She got involved with drones when Steve Bennett, a member of the Alleghany County Board of Supervisors, bought one from Guelzo. Last spring, 120 pilots came to the Flying Circus in Covington, traveling from as far away as Florida, California and Canada. The event was “kind of dipping our toes into the water,” Akridge says. The biggest economic impact from the event was pilots staying at motels and eating at local restaurants. This year, Akridge anticipates a lot of spectators. The Flying Circus isn’t the end of Covington’s plans for drones. Akridge says the goal is for the area to attract people interested in learning how to fly drones — not just for pleasure, but also for photography, forest management and other uses. During last year’s event, Akridge worried that some people might object to the traffic or the sound of drones buzzing overhead. While retrieving festival signs, she saw an older man walking toward her and braced for a complaint. “He was so excited,” Akridge remembers. “He said, ‘When are they coming back?’” 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/SOVA_NewCollegeIinstitute.png http://www.virginiabusiness.com/news/article/nci-leader-has-a-long-history-with-organization NCI leader has a long history with organization http://www.virginiabusiness.com/news/article/nci-leader-has-a-long-history-with-organization http://www.virginiabusiness.com/news/article/nci-leader-has-a-long-history-with-organization#When:22:00:00Z Leanna Blevins was part of New College Institute before it became a state entity in 2006.  Now she leads NCI as its executive director. Blevins, formerly NCI’s chief academic officer, had been acting executive director since 2015. She received her permanent appointment in December. “I wanted to be part of building something new and different that would help transform the Martinsville community by providing opportunities for the people that live there,” she says in explaining how in 2004 she became involved in the educational initiative that led to the creation of NCI. “It’s not very often that you get a chance to build an organization from the ground up.” NCI is a multi-university, higher-education center. It provides access to degree programs, certifications and other educational projects such as experiential learning opportunities. “We do that through partner universities. We don’t offer degrees ourselves,” Blevins says. NCI has faculty in residence from universities such as Longwood, Averett, U.Va., James Madison, Radford and Virginia State. “Students come here to complete years three and four of their bachelor’s degrees and also their master’s degrees,” Blevins says. “We partner with the Virginia Community College System for the first two years of education.” Nearly 400 students have completed bachelor’s and master’s degrees at NCI in the past decade. Nationally, enrollment in post-secondary education is down. In fall 2016, overall enrollment declined 1.4 percent from the previous year, according to National Student Clearinghouse research data. “Enrollment is down in our degree program, but it’s up in programs where you don’t have to commit to a degree,” Blevins says. “We expect programs such as certificate programs and endorsements will rise, and we will see a leveling off in degree programs.” The main opportunity for NCI, she says, “lies in combining the best of traditional higher education with the best practices of inventive post-secondary offerings. We have a real opportunity to do some creative programs that will be relevant to what the commonwealth needs as far as employment.” In addition to classroom courses, NCI offers online classes as well as hybrid programs with a mix of online work and video conferencing.  “We offer a variety of options,” Blevins says. “We are working with our university partners to give people ways to get access to education in smaller, bite-size pieces. That is our challenge and our opportunity.” 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/SCCF_logo.png http://www.virginiabusiness.com/news/article/staunton-groups-work-on-plans-for-innovation-lab Staunton groups work on plans for innovation lab http://www.virginiabusiness.com/news/article/staunton-groups-work-on-plans-for-innovation-lab http://www.virginiabusiness.com/news/article/staunton-groups-work-on-plans-for-innovation-lab#When:22:00:00Z Christina Cain is hoping to create a culture of innovation in Staunton. “We want to prepare people to meet the future needs of enterprise,” says Cain, executive director of the Staunton Creative Community Fund (SCCF). Her organization plans to create an innovation lab, tentatively called The Reactor. It would provide a place for entrepreneurs to get financial, educational and technical assistance in getting startup companies off the ground. In addition to co-working space, the lab would include “maker space” to develop product prototypes. SCCF has been working on the lab for about a year. Its core partners in the project include: Staunton Makerspace, Mary Baldwin University, the city of Staunton, Skylar Innovations and the Staunton Downtown Development Association. “We have been talking about a physical place to be a catalyst for ingenuity and creativity when it comes to business,” Cain says. She wants to ensure that the lab will be more than a co-working space. “One of the things that those co-working spaces don’t do is provide the intuitive and qualitative resources you need to get a business started,” she says. The project now is in a planning phase after two of its partners received grants. Creative Community Fund was awarded a $40,000 grant through the Virginia Department of Housing and Community Development in November. In addition, Staunton Downtown Development Association got a $12,500 Virginia Main Street grant in October. Both grants will support a feasibility study to help locate a building and hire a team of architects. “The grants will help us pay for the real, hard costs of getting this initiative into a building in Staunton,” Cain says, adding that there are quite a few structures in the city that would be a good fit. SCCF also has an initiative that helps people invest in the community. “Those dollars can be used as leverage to raise more money,” Cain says. One of the most important aspects of the project is the opportunity it presents for collaboration among community groups, she adds. “We will have the chance to show how well a wide variety of organizations can get things done in a public-private partnership.” 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/companies/article/people-february-2017 People - February 2017 http://www.virginiabusiness.com/companies/article/people-february-2017 http://www.virginiabusiness.com/companies/article/people-february-2017#When:22:00:00Z EASTERN VIRGINIA Annette Beuchler has been named CEO of the Obici Healthcare Foundation in Suffolk. She was director of programs and communications at The Rapides Foundation in Louisiana. (Inside Business) Rebecca Kleinhample, named executive director of the Virginia Living Museum in Newport News. She had been interim director and was the museum’s development director before that. Kleinhample succeeds Page Hayhurst, who resigned to accept a position in South Carolina. (Daily Press) An Eastern Virginia Medical School professor, Dr. Paul E. Marik, has been awarded the American College of Physicians Award for Outstanding Educator of Residents and Fellows. (Daily Press) Douglas C. Smith, vice president of construction and sales at Hearndon Construction, has been installed as president of the Tidewater Builders Association for 2017. (Inside Business) Thomas D. Sullivan, the founder of Toano-based flooring retailer Lumber Liquidators Holdings Inc., resigned as a board member in December, regulatory filings showed. His resignation comes after Lumber Liquidators decided earlier that month to eliminate Sullivan’s position as a company employee. (Richmond Times-Dispatch) Hampton Roads-based TowneBank has named Richmond attorney George P. Whitley as its senior executive vice president and chief legal officer. He was an attorney at LeClairRyan, where he focused on community banking. (VirginiaBusiness.com) SHENANDOAH VALLEY Karen Abraham has been named Shenandoah University’s interim dean of the School of Health Professions. She began her new position Jan. 3 and will serve through the 2017-18 academic year. Abraham serves as the university’s fellow for academic excellence and professor of physical therapy. She succeeds Timothy Ford, who left the university to become chair of environmental health sciences in the School of Public Health and Health Sciences at the University of Massachusetts-Amherst. (The Northern Virginia Daily) Ellen R. Fitzwater has been appointed chair of the F&M Bank Corp. board of directors. She has served on the board of the Timberville-based bank for 17 years. Fitzwater succeeds Thomas L. Cline, who retired after 25 years with the bank.  (The Northern Virginia Daily) Cynthia Pritchard, president and CEO of the United Way of Greater Augusta, has resigned to take the top job at Delaware Grantmakers Association in Wilmington, Del. Her departure is effective Feb. 10. Board Chairman Mark Frazier said the board would begin a search for her replacement over the next few months. (News Leader) Triplett Tech Business and Technical Institute in Mount Jackson now is offering night classes for masonry and nursing. Masonry for Beginners will teach basic masonry skills with hands-on instruction from Jan. 17 to Feb. 22 on Tuesdays and Wednesdays from 6 to 9 p.m. The cost per student is $120. Nursing assistant classes will begin in February and will cost $800 per student. Triplett Tech Principal Connie Pangle said the school offers night classes for adults when they find a need or interest in a particular subject. (The Northern Virginia Daily) SOUTHERN VIRGINIA South Hill-based CCB Bankshares Inc. has named Dan F. Stewart as executive vice president and chief credit officer. CCB is the parent company of Citizens Community Bank, which operates three branches in south central Virginia and three in northern North Carolina. Before joining the bank, Stewart was a team leader for Credit Risk Management LLC for five years. (VirginiaBusiness.com) Michael O. Walker plans to retire as CEO of Benchmark Bankshares Inc., the parent company of Kenbridge-based Benchmark Community Bank, in May. He’ll continue to serve as an adviser to the bank’s management and the board of directors. Benchmark Community Bank President Jay A. Stafford will succeed Walker as president and CEO. (News release) The New Year means a new location for Danville-based Solex Architecture. Since establishing Solex three years ago, owner and architect Jeffrey Bond said the company grown to the point that it requires additional space. On Dec. 15, Bond and his team cut the ribbon and opened the doors at their new office. Solex now makes its permanent home at 641 Main St. in Danville. (Work It, SoVa) Piedmont Access to Health Services Inc. (PATHS) has been awarded a $775,000 federal grant to open a community health center (FQHC) in South Bosto. PATHS  is one of only 75 organizations in the country to be awarded these funds. PATHS already operates four centers in Southside Virginia and one each in Martinsville, Danville, Chatham and Boydton. (The Gazette-Virginian) ROANOKE/NEW RIVER VALLEY   Kay Dunkley   has been named executive director of The Roanoke Higher Education Center. Dunkley, former director of the Virginia Tech Roanoke Center, succeeds Tom McKeon, who retired. (News release) Marc Edwards, the Charles P. Lunsford Professor of Civil and Environmental Engineering at Virginia Tech, has been named one of Foreign Policy magazine’s 100 Leading Global Thinkers of 2016. (The Roanoke Times) Draper Aden Associates announced new associates in the firm’s Blacksburg office:   Janet Frazier  , senior associate, program manager in the environmental division;  Brent Casteele , design engineer in the site development and infrastructure division; Ted Dean, program geolo  gist in the geotechnical division; and Mike Futrell, senior GIS administrator in the environmental division. (The Roanoke Times) L. Nicole “Nikki” Griffin has joined Bank of Botetourt and Virginia Mountain Mortgage as vice president – mortgage loan officer. She is located in the Bank of Botetourt Office at Daleville Town Center. Griffin has worked for over seven years as the vice president and manager of Colonial Mortgage Co. LLC in Daleville. (The Roanoke Times) Tom Lillard has been named Radford University’s associate vice president for University Advancement. Most recently, Lillard served as regional director of major gifts at Virginia Tech. (News release) X.J. Meng, University Distinguished Professor of Molecular Virology at Virginia Tech, has received a State Council of Higher Education for Virginia Outstanding Faculty Award. (News release) SOUTHWEST VIRGINIA  Maggie Bishop  has been named interim executive director of Believe in Bristol. She succeeds Christina Blevins, who accepted a position with the Community Development Department for the city of Bristol, Tenn. (Bristol Herald Courier)  Kelly June Bremner , Michael Kevin Hamed and Walter  Hammo nd Smith were among recipients of the State Council of Higher Education for Virginia’s 2017 Outstanding Faculty Awards. Smith, assistant professor of biology at The University of Virginia’s College at Wise, was the “Rising Star” recipient. Bremner is a theater professor at Emory & Henry College, and Hamed teaches biology at Virginia Highlands Community College in Abingdon. (News release) Nicole Drewitz-Crockett has been awarded the 2016 H. Hiter Harris Rising Star Award for Excellence in Undergraduate Teaching by the Virginia Foundation of Independent Colleges. She is an English professor at Emory & Henry College. (News release)   Roger Roe, owner of Roger’s Trucking in Abingdon, received the Workforce Development Services Chancellor’s Award from Virginia’s Community Colleges for partnering with Virginia Highlands Community College to create a Commercial Drivers License Program to meet the region’s workforce needs. (News release) Christmas came four days early for Bristol, Tenn.’s United Way when Virginia-based developer Steve Johnson donated $1 million to the charity’s endowment fund on Dec. 21. Johnson made another $1 million donation earlier that month to Virginia Tech’s Indoor Practice Facility. Johnson played football at Virginia Tech and went on to play for several seasons in the NFL. Currently, he is the developer behind The Pinnacle, a 250-acre, one-million-square-foot, regional shopping center in Bristol, Tenn. (VirginiaBusiness.com) NORTHERN VIRGINIA Ángel Cabrera, president of Fairfax-based George Mason University, has been elected to serve as a director for the Federal Reserve Bank of Richmond. Cabrera, who began his Fed duties in January, is one of nine directors at the Richmond bank. (The Associated Press)  Loudoun County Administrator  Tim Hemstreet  has been awarded the Virginia Asian Chamber of Commerce’s Champion of Economic Visionary Award for 2016. (News release)  Robert W. Lazaro Jr.  and David G. Speck were named to the Me tropolitan Washington Airports Authority. Lazaro is acting executive director of the Northern Virginia Regional Commission and the former mayor of Purcellville. Speck is managing director of the Speck-Caudron Investment Group of Wells Fargo Advisors. He formerly was a member of the Virginia House of Delegates and Alexandria City Council. (News release) George Nash Jr. has joined Branch and Associates in its Herndon office as the director of preconstruction. Nash previously worked for Facchina Construction Co., based in La Plata, Md., where his most recent role was director of business development. (VirginiaBusiness.com) Interstate Hotels & Resorts, an Arlington-based global hotel management company, has named Brett Stewart senior vice president, development and capital markets. Before joining Interstate, Stewart was vice president, strategy and capital markets, for DiamondRock Hospitality Co., a real estate investment trust based in Bethesda, Md. (VirginiaBusiness.com)   Web software pioneer Unanet said in December it is moving from its current location in Dulles to a 24,000-square-foot facility in the Loudoun Gateway office park in Sterling. The company said the $7.3 million investment will result in a larger space that allows it to add 100 employees over the next few years. Founded in 1988 by CEO Fran Craig, Unanet has had its headquarters in Loudoun since 2003. The company serves more than 1,000 organizations nationwide, including government contractors located in the nation’s capital area. (VirginiaBusiness.com) CENTRAL VIRGINIA Andreas Addison has joined Richmond-based Dominion Payroll Services as director of strategy and engagement. Addison, who also represents the 1st District in Richmond’s City Council, previously held positions with city government, Circuit City and Wells Fargo. (News release) Jeffrey Lacker, the president and CEO of the Federal Reserve Bank of Richmond, will retire in October. Lacker joined the Richmond Fed in 1989 and has led the bank since 2004. (News release) Jonathan D. Urick has joined McGuireWoods’ appellate practice in Richmond. He is one of seven former Supreme Court law clerks in the firm’s litigation practices. During the Supreme Court’s 2015-2016 term, Urick clerked for Antonin Scalia until the justice’s death in February, then joined Clarence Thomas’ chambers. (News release) Richmond-based CPA firm Keiter announced that Gary G. Wallace has been named Tax Practice leader and will also serve on the firm’s executive committee. Before joining Keiter, he was chief financial officer for The Riverstone Group LLC and CCA Industries Inc. Jennifer F. Flinchum, who previously was Tax Practice leader, will head a new practice at Keiter, Family Executive & Entrepreneurial Advisory Services.  (VirginiaBusiness.com) A Virginia Department of Rail and Public Transportation report on providing rail service to Bedford projects the line would boost ridership by 7 percent on the planned Lynchburg-to-Roanoke route, a relatively low estimate that has disappointed advocates for a Bedford stop. The state agency’s study estimated costs for the station to be between $5.7 million and $11.4 million, depending on the final site and platform design. DRPT estimates that Roanoke’s new rail service, scheduled to begin in late 2017, will generate about 38,000 passengers per year. The study was commissioned by the town of Bedford and compiled by engineering firm Wendel. (The News & Advance) 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/news/article/for-the-record-february-2017 For the Record - February 2017 http://www.virginiabusiness.com/news/article/for-the-record-february-2017 http://www.virginiabusiness.com/news/article/for-the-record-february-2017#When:22:00:00Z EASTERN VIRGINIA Glen Allen-based Cushman & Wakefield|Thalhimer announced in December the sale of approximately 2.95 acres of land at 845 S. Battlefield Blvd. in Chesapeake. Big Ugly Brewing Co. purchased the land from TKW Group LLC for $375,000 for the relocation and expansion of its Great Bridge Brewery. (News release) Students interested in becoming paramedics have a new opportunity at ECPI University. The Newport News campus has added an associate’s degree program in emergency medical services to its catalog, a 16-month year-round program for those new to the field. Existing emergency medical technicians can graduate in about a year. The first cohort of 17 students started in December. (Daily Press) Virginia Beach-based Globalinx Data Center LLC agreed to buy 10 acres of land in the Corporate Landing Business Park from the Virginia Beach Development Authority for $2 million, the city said. The company plans to develop a 138,000-square-foot international data center. The facility would be near the recently announced Telefonica cable landing station, Globalinx CEO Greg Twitt said. (Daily Press) Newport News-based Huntington Ingalls Industries has received a $1.4 billion contract to build a 12th San Antonio-class amphibious warship. The contract will allow HII’s Ingalls Shipbuilding to proceed with detailed design and construction of the future USS Fort Lauderdale. Ingalls has built and delivered 10 ships in the San Antonio class. The 11th is the future USS Portland. It launched last year and is scheduled for sea trials in mid-2017. (Daily Press) Hunt Mortgage Group, a New York City-based lender, has provided a $14 million Fannie Mae loan to finance the acquisition of a multifamily property in Virginia Beach. Waterside at Lynnhaven includes 25 apartment buildings with 192 units and a leasing office. The buildings, situated on 15.7 acres, were developed in 1966 with 168,360 square feet of space. The property offers one-, two- and three-bedroom units. According to Hunt Mortgage Group, the property is self-managed by the borrower, Waterside DNB LLC. (VirginiaBusiness.com) Isle of Wight County lost one-third of its entire cotton crop in 2016, mainly due to extreme amounts of rain that drenched the area in September and October, experts said. The Isle of Wight County Board of Supervisors voted in December to ask Gov. Terry McAuliffe to declare the county an agriculture disaster area, which would enable farmers to apply for low-interest emergency loans. The total loss was estimated at $2.4 million. (Daily Press) James City County is searching for a new director of economic development. Former director Russell Seymour has moved to the General Services department, says Patrick O. Teague, county director of human resources. Seymour had been the county’s director of economic development since 2010. Teague said the county hopes to have the position filled by February or March. (The Virginia Gazette) Chesapeake-based LTD Hospitality Group has bought the 183-room Magnuson Hotel in Newport News. LTD planned to close and restore the guestrooms, lobby, restaurant and more than 10,000 square feet of meeting space. The hotel is scheduled to reopen by the end of 2017 as a full-service Holiday Inn. The price of the purchase and the amount to be spent on the renovation were not disclosed. Founded in 1983, LTD Hospitality Group has several business units, including asset management, hotel management and development specializing in the lodging real estate sector. (Virginia­­Business.com) Murphy Business & Financial Corp. LLC, a full-service business brokerage firm with more than 180 offices in the United States and Canada, recently announced the opening of an office in Virginia Beach. The office will support entrepreneurs with the sale of their businesses, purchases, valuations, and mergers and acquisitions.  The new office serves Hampton Roads and surrounding communities in southeast Virginia. (News release) The  Port of Virginia  broke its annual record for container cargo volume in 2016. The port moved 2,655,705 containers, measured in standard 20-foot units, or TEUs. That’s up 4.2 percent from the 2,549,270 units handled in 2015, previously the port’s highest-volume year on record. Import and export volumes were up 6 percent and 2.6 percent, respectively, year over year. The fourth quarter of 2016 was also the best in the port’s history, with double-digit gains in volume as well as increased market share of East Coast cargo volume, which grew from 12.9 percent to 14.5 percent. (The Virginian-Pilot) Norfolk-based  Smartmouth Brewing Co . is adding a second location in Vir ginia Beach. The new brewery site is expected to open in the fall at 313 32nd St. Smartmouth’s Norfolk brewery, located in the Chelsea neighborhood, will remain the company’s primary brewing, packaging and distribution facility. The new space includes 7,957 square feet inside, plus a 1,500-square-foot porch/loading dock in the back. (VirginiaBusiness.com) Wheeler Real Estate Investment Trust Inc., a Virginia Beach-based commercial real estate investment company, announced in December that it acquired Rivergate Shopping Center, a 205,811-square-foot, Publix-anchored shopping center in Macon, Ga., for $37.25 million. Rivergate has eight outparcels with diverse national tenants including a stand-alone Starbucks and Buffalo Wild Wings. Wheeler REIT said it will evaluate the potential sale of all or a portion of the outparcels as part of its capital recycling strategy in the near future. (Inside Business) SHENANDOAH VALLEY The Budget Inn in Shenandoah has new owners and will eventually be getting a redesign and new name. Buck Shifflett, who owns two Lydia Mountain Lodge motels in Stanardsville, purchased the Budget Inn in November. The 20-room motel was purchased for $250,000. Construction is expected to begin early this year and be completed by the end of 2017. The Budget Inn will become a Lydia Mountain Lodge motel. (Page News and Courier) In December, federal and state officials said the commonwealth will benefit from a $50 million settlement with DuPont stemming from the release of mercury from the company’s former Waynesboro plant. They say the settlement with the chemical company would be the largest natural resources settlement in Virginia history. The settlement terms are outlined in a proposed consent decree filed in federal court in Harrisonburg in December. The settlement is subject to final approval by the U.S. District Court for the Western District of Virginia. (VirginiaBusiness.com) DuPont Community Credit Union has announced plans to expand its presence in the Harrisonburg and Rockingham County community with the construction of its fourth Harrisonburg location. The new office will be located on the corner of Stone Port Boulevard and Stone Spring Road in the new Stone Port Development area near Sentara RMH Medical Center. Construction is set to begin this spring. (The Northern Virginia Daily) Eight counties and five cities in the Shenandoah Valley are teaming up to launch a branding campaign aimed at increasing regional tourism. The Today’s Shenandoah Valley campaign combines marketing efforts from Frederick County in the north to Rockbridge County in the south. (The Shenandoah Valley-Herald) SOUTHERN VIRGINIA  Blue Ridge Aquaculture  will invest $3.2 million to expand its operation in Henry County and create five new jobs. Incentives for the project included a $50,000 grant from the Governor’s Agriculture and Forestry Industries Development Fund, which Henry County matched with local funds and a $25,000 grant from The Virginia Tobacco Region Revitalization Commission. Founded in 1993, Blue Ridge Aquaculture is the largest producer of aquaculture-raised tilapia in the world. (Martinsville Bulletin) There were almost 2,000 available jobs in the  Dan River Region  in 2015-16, nearly double the number from the previous year, according to a recent report from the Danville Pittsylvania County Chamber of Commerce. There were 1,892 job openings in Danville and Pittsylvania County from July 1, 2015 to June 30, 2016, according to Chamber President Laurie Moran. That’s 96 percent more than the 969 jobs available in fiscal year 2014-15, according to the Danville-Pittsylvania County Business Services Report. (Danville Register & Bee)  The  Danville Science Cente r, a division of the Scienc e Museum of Virginia, recently completed the master plan for the facility’s future, which was to be presented to Danville City Council in January. The plan includes making improvements to the center, bringing in new permanent exhibits and creating a separate space for young learners over the next five years. Museum officials are not sure of the total cost of the enhancements or when they would take place. (Danville Register & Bee) Canada-based Novatech Group is investing $3 million to establish its first U.S. manufacturing operation in Henry County. The project is expected to create 50 jobs. Novatech, which is based in Quebec, makes door glass, steel doors, patio doors, retractable screens and insulated glass. The company will lease a 100,000-square-foot facility to produce and distribute a variety of patio doors. (VirginiaBusiness.com) ROANOKE/NEW RIVER VALLEY In 2016 Blacksburg received roughly half as many site plans as in 2015 and the lowest number since at least 2012, according to records obtained in December. Site plans — basically layouts of proposed developments — are considered by local planning officials to be one of the early signals of future or potential economic activity. Blacksburg received 16 site plans in 2016. In contrast, the town had received 31 in both 2015 and 2014, 27 in 2013 and 22 in 2012. (The Roanoke Times) Two Virginia civil engineering and survey firms,  Hurt & Proffitt (H&P)  and Anderson & Associates Inc., merged Jan. 1. Both firms are employee owned. Anderson & Associates  has joined Hurt & Proffitt’s operation and is doing business as H&P. The office remains in Montgomery County. Founded in 1968, Anderson & Associates is a professional design services firm specializing in civil engineering, surveying and GIS. H&P was founded in 1973. It has offices in Lynchburg, Roanoke and Wytheville. (VirginiaBusiness.com) Nearly 17 months after Norfolk Southern Corp. listed its regional headquarters building in downtown Roanoke for sale, the 11-story office property has sold to a group of local investors who plan to lease it to multiple tenants. Both Norfolk Southern and 110 Franklin LLC confirmed in December that the sale had closed for an undisclosed price. (VirginiaBusiness.com)   Virginia Tech   and  Faceboo k have signe d  an agreement that will remove barriers and make it easier to work together on future research projects. It’s one of 17 such arrangements, called sponsored academic research agreements, that Facebook executive Regina Dugan announced late last year. Other participating institutions include Stanford University, Massachusetts Institute of Technology and Harvard University. (The Roanoke Times) In December, Volvo Trucks North America announced it would eliminate 500 jobs at its Pulaski County plant, effective Feb. 13, so it could adjust production to market demand. The company has since canceled the layoffs. “We’ve continued to monitor the ongoing reduction in new truck inventory across the industry in the weeks since the original announcement, and we’re encouraged by the trend,” Volvo Trucks North America spokesman John Mies said in a statement. The December announcement came after a year of layoffs that had already cut about 800 jobs at Volvo’s only truck-making plant in the United States.  (The Roanoke Times) SOUTHWEST VIRGINIA Sears, the final remaining anchor store in Bristol Mall and one of its original tenants, will close in March. In January, Sears Holdings announced plans to close 26 Sears locations in 17 states — including the Bristol store — and 78 Kmart stores in 26 states. In December, the struggling retailer had announced plans to shutter 16 other Sears locations and 30 Kmart stores. All are expected to close by the end of the first quarter. The Sears store at Bristol Mall occupies nearly 94,000 square feet. Once the store closes, it will leave the Bristol Mall at about 10 percent capacity with just six remaining businesses, Belmeade Formal Wear, GameStop, Bath & Body Works, Bounce Bristol, Misty Mountain Designs and KSS, a school supplies store. (Bristol Herald Courier) Students at Washington County-based Emory & Henry College hoping to become lawyers will have a faster path to completion of their degrees as a result of an agreement with Ohio Northern University (ONU). The 3 + 3 Legal Education Admissions Program (LEAP) will allow students to complete their undergraduate education and their law degree training in six years instead of the normally required seven years of study. Under the agreement, students with the appropriate test scores and grade point average will be guaranteed admission to ONU’s Pettit College of Law. (News release)    Freddy’s Frozen Custard      and Steakburgers   and  Buffalo Wild Wings  o  pened at The Falls in Bristol in December. The two restaurants occupy opposite ends of a multitenant structure across from Lowe’s and Cabela’s. This is the first Freddy’s in Southwest Virginia. The restaurant also has two other Virginia locations, in Fairfax and Fredericksburg. (Bristol Herald Courier) NORTHERN VIRGINIA McLean-based  Booz Allen Hamilton Inc. ’s $250 million acquisition of Laurel, Md.-based digital services and federal cloud firm Aquilent will be delayed by three months, according to company filings with the U.S. Securities and Exchange Commission. Originally slated to close Dec. 31, the deal will instead close on March 31— the last day of Booz Allen’s fiscal year. In that time, Booz Allen and Aquilent will “continue to work on certain contract transition related matters,” the filing stated. (Washington Business Journal) Westminster, Colo.-based cybersecurity firm Coalfire Systems Inc. has acquired Vienna-based  Veris Group  to become a major cybersecurity and threat assessment consultancy to federal agencies, businesses and cloud-computing service providers looking to do business with the federal government. Financial terms of the deal were not disclosed. The combined company has 550 employees, generates about $100 million in annual revenue and aims to maintain a 30 percent annual growth rate, the companies said. (Denver Business Journal) Nearly 10 months after announcing plans to spin off its real estate and timeshare businesses, McLean-based  Hilton Worldwide Holdings Inc.  split into three in January. The transaction created two new public companies: a real estate investment trust called Park Hotels & Resorts and the timeshare business Hilton Grand Vacations.  Former RLJ Lodging Trust CEO Thomas Baltimore is heading up Park Hotels & Resorts, and CEO Mark Wang will continue his leadership of Hilton Grand Vacations. (Washington Business Journal) Sterling-based  Neusta r announced plans to be acquired by a private equity firm for $2.9 billion. The information services company said it has agreed to be bought by a private investment group led by San Francisco-based Golden Gate Capital.  The deal, which has been approved by the company’s board of directors, is expected to close by the third quarter. (VirginiaBusiness.com) CENTRAL VIRGINIA Six months after merging with  Door to Door Organics , Charlottesville-based online grocer Relay Foods announced in January that it will begin operating  under the Door to Door brand. Like Relay Foods, Door to Door delivers groceries to its customers’ front doors. The company serves customers in 16 states. (The Daily Progress) A German manufacturing company, iMPREG Group, has leased about 5,000 square feet of space near Richmond International Airport for its first U.S. location. It initially employed about six people involved in distribution operations. Plans for a second phase, however, would enable iMPREG  to manufacture its product, fiberglass reinforced liner systems used in trenchless pipe projects. That $5.4 million investment would increase the company’s workforce at the site to 60 employees.  (Richmond Times-Dispatch) Media General Inc., a Richmond-based company that once owned newspapers and television stations across the country, is gone as a corporate entity. It was acquired in January by Texas-based Nexstar Broadcasting Group Inc. in a stock and cash deal valued at $4.6 billion. The combined company, Nexstar Media Group, operates 171 television stations. (Richmond Times-Dispatch) Prestige Brands, an over-the-counter health-care company, has announced the purchase of longtime Lynchburg company C.B. Fleet for $825 million in cash. C.B. Fleet, also known as Fleet Laboratories, makes a variety of personal health-care products in the areas of feminine care, gastrointestinal health and pediatric care. It employs about 325 people, with the majority working in Lynchburg. The merger is expected to close during the first quarter of 2017. (The News & Advance) 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Tetscher_Image_Color_Correceted_2_%283%29.png Virginia Wesleyan College’s master plan includes adding new facilities. Photo by Janice Marshall-Pittman http://www.virginiabusiness.com/news/article/virginia-wesleyan-college-charts-course-for-growth Virginia Wesleyan College charts course for growth http://www.virginiabusiness.com/news/article/virginia-wesleyan-college-charts-course-for-growth http://www.virginiabusiness.com/news/article/virginia-wesleyan-college-charts-course-for-growth#When:22:00:00Z Norfolk-based Virginia Wesleyan College’s newly unveiled 10-year master plan focuses on increasing enrollment and adding new facilities. “We want to increase [the number of residential students] from 850 to 1,000 students and take enrollment from 1,400 to 1,700,” Scott Miller, the college’s president, says. The institution-wide planning process began in July 2015 when Miller took office. “I felt that it was really important to elaborate where we have been, where we are now and where we go in the future,” he says. The college shared a draft of the master plan last year with stakeholders ranging from the board of trustees to Virginia Beach City Council. (Of the school’s 300 acres, 292 are in Virginia Beach.) One of the college’s top priorities is the construction of the 40,000-square-foot Greer Environmental Sciences Center. It is on target for completion this June or July. “An anonymous donor provided all the funds to construct, furnish and equip the building,” says Miller, noting that the center is named after former Virginia Wesleyan President Billy Greer who retired in 2015. Other projects include the development of high-end apartments or condos on a 12-acre, school-owned tract of land across from the campus. “It will accommodate the campus community [from upper level students to faculty] as well as the community as a whole,” Miller says. “Staff from Norfolk Academy and Chesapeake Bay Academy, which sit on either side of the college, said they were also interested in living there.” The Susan S. Goode Fine and Performing Arts Center is another facility scheduled to be built in the next three years. Susan Goode, a member of the board of trustees, and her husband David, the retired president and CEO of Norfolk Southern Corp., donated $5 million in seed money toward the project. Another philanthropic couple, Joan and Macon Brock, gave an additional $5 million, Miller says. Joan Brock is also a member of the board of trustees. Macon Brock is chairman and co-founder of Chesapeake-based Dollar Tree Inc. “We now have gifts and pledges of $12.7 million,” Miller says. “When we hit $14 million sometime in 2017, then we will start the architectural design and construction.” Within the next five years the college will also build three additional townhouses for student housing as it increases its total enrollment by 300 students. The master plan is very doable, Miller says. “This isn’t some pie-in-the-sky project. The process alone has excited and energized donors and the campus community.” 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Bernie-5836.png http://www.virginiabusiness.com/opinion/article/virginia-has-a-different-set-of-problems-than-dee-cee Virginia has a different set of problems than Dee Cee http://www.virginiabusiness.com/opinion/article/virginia-has-a-different-set-of-problems-than-dee-cee http://www.virginiabusiness.com/opinion/article/virginia-has-a-different-set-of-problems-than-dee-cee#When:22:00:00Z Hello again.  It’s taken a couple of months after America’s long summer, fall and winter of political discontent for me to come back to filling this space.  Speechless is a pretty good description — speechless at best. After all, those who delighted as public discourse shifted back in time to calling a spade a spade are perhaps now realizing that such regression may be truly unsettling, at least for the civilized world. Now is the time to let such chips fall from our collective shoulders and see what happens when they fall where they may.  Ouch! As much as we’ve heard about government dysfunction in Dee Cee (Drain the swamp!), will effectiveness be restored?  With Republicans controlling the White House and both houses of Congress for the first time in a decade, are we at the cusp of a new era of reform? No list could be long enough, but here are just a few of the items on our politicos’ promised to-do list: repeal and replace the Affordable Care Act; renegotiate NAFTA and other trade agreements; rejigger NATO, the United Nations and other foreign alliances; return coal jobs; rebuild infrastructure; fix immigration; conquer terrorism; reduce individual and corporate taxes; bring jobs back to America; reduce federal spending; increase defense spending; fix Social Security, Medicare, Medicaid and other entitlements — this list could go on and on. Taken individually, each of these concerns is potentially worthy of a voter’s trust. Taken collectively, they are more than overwhelming — a big set of promises too good to be delivered. In just a few words, the politicos in Dee Cee have their hands full. What about Virginia?  The General Assembly is in the midst of its short session, just 45 days to deal with yet another massive state budget shortfall and then doing little else before adjourning to go into full campaign mode. In just nine months, the commonwealth will not only select a new governor, but also vote on all 100 seats in the House of Delegates. When the Virginia legislature is in session, elected officials are barred from fundraising, so don’t expect too much from this short session.  They’ve got to get back to their real work — raising money for re-election — so much for the good of the commonwealth. Much like Dee Cee, Virginia’s politics of late are overwhelmingly driven by internecine bickering.  With Democrats in all three top statewide offices, a closely divided Senate and an overwhelming Republican majority in the House of Delegates, little gets done. It’s all partisan posturing in a tug of war for political gain. Let’s think ahead a little bit. With the Republicans likely poised to nominate a seasoned and credible candidate for governor — say Ed Gillespie, who came close to toppling Mark Warner in Virginia’s last U.S. Senate race — could the commonwealth also be on the cusp of a Republican trifecta, with the party holding the Executive Mansion as well as the Senate and House of Delegates? Would that do anything to change the partisan obstructionism, escalated by legislative gerrymandering, which has become the defining characteristic of our two-party system? If so, what’s on the commonwealth’s not so short list of things that the legislature needs to do?  How about: Stop playing political football with economic development.  Sorry, GO Virginia, but this isn’t an entirely regional game.  Virginia needs statewide marketing. Fix the Virginia Economic Development Partnership and finish the establishment of the Virginia International Trade Corp., while also providing competitive economic development incentive grant funding.  These are the commonwealth’s growth drivers, so give them budget priority. Reverse declining higher education funding.  Don’t blame tuition hikes on the colleges and universities when they have borne the weight of continual state budget shortfalls. Let’s have some real accomplishments in workforce and early childhood development.  Make them real priorities and not just sound bites. Working to improve the entire educational spectrum isn’t just something nice to have.  It is a must-do to make Virginia competitive. Attention to health care needs to be more than just, “Is your party for it or against it?”  Virginia has some of the nation’s lowest Medicaid reimbursement rates.  Hospitals in rural areas are having a hard time staying in business.  Dental care in Southwest Virginia is being delivered through a process akin to Doctors Without Borders.  Kudos to the volunteers providing this service, but it’s embarrassing to our system. On transportation, remember that passing one funding bill in 1986 and a second one in 2013, does not come close to fully funding our growing infrastructure needs. Oh, and then there is the tough stuff, help our cities by lifting the decades-old annexation moratorium, swallow the hard pill of nonpartisan redistricting, and give our governors a chance at making accomplishments by letting them run for a second term. These are more than just opportunities for the 2017 short session; they should be electoral platform priorities for next November and delivered as quickly as possible. The challenges faced by our commonwealth and our nation could not be more different.  Applying outdated partisan thinking to either one of them has failed.  It’s time for a better way and for better results. 2017-02-02T22:00:00+00:00 http://www.virginiabusiness.com/uploads2/Legge-0277.png NuWave Solutions LLC Executive Vice President Ryan Legge Photo by Mark Rhodes http://www.virginiabusiness.com/news/article/the-right-fit The right fit http://www.virginiabusiness.com/news/article/the-right-fit http://www.virginiabusiness.com/news/article/the-right-fit#When:21:55:00Z NuWave Solutions LLC is constantly on the lookout for employees who fit its culture. “We are very specific with who we hire. We look for people that want to grow with the company and stay with us,” says Ryan Legge, executive vice president. “We look for self-motivated folks that strive to better their skills as well as the profile of the company.” NuWave provides data analytics to public-sector customers. “What we look to do is help leaders improve efficiency, agility and productivity for their organization,” Legge says. When they started NuWave in 1999, founders Howard Block, Mark Keyser and Rob Castle wanted to create a family-oriented corporate culture. “They wanted to give employees a voice in how the company runs,” Legge says. With that goal in mind, the company offers employees leadership training. It also has an employee advisory council where NuWave leaders can solicit employees’ opinions on certain matters. “If we are going to entertain policy change, we will run it by this group,” Legge says. The company also provides expenses-paid company trips for employees and their guests to places such as Cancun, the Bahamas, Florida and Las Vegas. “We also have a holiday party, company summer picnic, roving happy hours, birthday gift packages and new-hire welcome gifts,” Legge says. Benefits include a program in which each employee can expense one lunch a month with another employee who is on a different project. “That helps all of our consultants get to know each other both professionally and personally,” Legge says. The company also invests heavily in training, providing a certification bonus program, tuition reimbursement and a tailored training plan. It is converting its headquarters into an Analytics Center of Excellence. It will serve as an innovation lab as well as a training center where employees can train and try out new technologies. “We can also demonstrate the latest technology for clients,” Legge says.   NuWave mainly works with the U.S. Department of Defense and federal civilian departments, such as the U.S. Department of Justice and the Export-Import Bank of the United States. Customers also include local and state governments. One of its largest customers is the U.S. Army. NuWave provides it with enterprise business intelligence and data analytics. “In the project we are leading, we are pulling data from 50-plus data sources across the Army into one application so senior Army leaders can make more informed decisions,” says Legge. For years, NuWave remained small with only about 15 employees. That situation began to change about five years ago. “We started to have more customers come to us for work,” Legge says. “Expanding was always with the intent of growing the right way.” It now has about 50 employees, 90 percent of whom work at its McLean headquarters. The remaining 10 percent work at its Columbia, Md., location, which NuWave opened seven years ago. “We are proud of the fact that, when employees join the company, they stay with us for a long time,” Legge says. Finding employees with the right credentials can be a challenge, he adds. “Many of our employees have security clearances, and there is a small pool of applicants that already have a security clearance,” he says. In the last five years NuWave has averaged 10 to 20 percent annual revenue growth. Business can fluctuate, however, because of government spending cuts. Federal, local and state governments can alter their spending habits as well as the products they use. “Also a different administration can make things fluctuate,” Legge says. Since its founding, the company has encouraged employees to give back to the community. It supports several local and national organizations through its charitable giving. They include Operation Renewed Hope Foundation (supporting homeless veterans), Lungevity (combating lung cancer) and Mission of Mercy a (mobile health-care clinic). The company provides Christmas gifts to needy Fairfax County school children. “We pick charities that are dear to our hearts,” Legge says. “Employees can come up with programs as well. We love to see employees get passionate about charities.” 2017-02-02T21:55:00+00:00 http://www.virginiabusiness.com/companies/article/todd-donaldson-named-president-of-hourigan-construction Todd Donaldson named president of Hourigan Construction http://www.virginiabusiness.com/companies/article/todd-donaldson-named-president-of-hourigan-construction http://www.virginiabusiness.com/companies/article/todd-donaldson-named-president-of-hourigan-construction#When:22:09:00Z Richmond-based Hourigan Construction said Wednesday it has named Todd Donaldson president. He succeeds company founder, Mark Hourigan, who now is CEO. Donaldson previously was executive vice president of the construction management company, working on projects with Altria, Stone Brewing Co. and Virginia Commonwealth University, among others.  He currently is leading development of the 960,000-square-foot Dominion Resources Workplace Project in downtown Richmond, a 20-story high-rise that is expected to open in early 2019. During his 30-year career, Donaldson has been responsible for several million square feet of facility development in the U.S. and Great Britain. He has been with Hourigan since 2002. He has a mechanical engineering degree from the State University of New York. Hourigan Construction manages new construction and renovation projects in the mid-Atlantic. The company has offices in Richmond and Virginia Beach. Hourigan, who founded the company in 1993, will remain actively involved in the firm, focusing on strategic vision and exploring more ways to serve clients. 2017-02-01T22:09:00+00:00 http://www.virginiabusiness.com/news/article/jobless-rates-fall-in-virginia-metro-areas1 Jobless rates fall in Virginia metro areas http://www.virginiabusiness.com/news/article/jobless-rates-fall-in-virginia-metro-areas1 http://www.virginiabusiness.com/news/article/jobless-rates-fall-in-virginia-metro-areas1#When:21:38:00Z Unemployment dropped in all of Virginia’s metro areas during December. The Virginia Employment Commission (VEC) reported on Wednesday declines ranging from one-to three-tenths of a percentage point in the commonwealth’s 11 metro statistical areas. The VEC numbers were not seasonally adjusted, meaning that they do not take into account seasonal fluctuations in labor force. All of the metro jobless rates were below 4.5 percent, and seven were below 4 percent. Northern Virginia continued to have the lowest unemployment rate, 3.1 percent. It was closely followed by the Charlottesville area, 3.2 percent, and Winchester area, 3.3 percent. The highest rate was recorded in the Bristol area, 4.4 percent. A breakdown of the number shows: Bristol: 4.4 percent in December, down from 4.7 percent in November. Charlottesville: 3.2 percent, down from 3.4 percent. Hampton Roads: 4.3 percent, down from 4.5 percent. Harrisonburg: 3.6 percent, down from 3.8 percent. Lynchburg: 4.3 percent, down from 4.4 percent. New River Valley: 4.1 percent, down from 4.3 percent. Northern Virginia: 3.1 percent, down from 3.3 percent. Richmond: 3.9 percent, down from 4.1 percent. Roanoke: 3.7 percent, down from 3.9 percent. Staunton-Waynesboro: 3.9 percent, down from 4 percent. Winchester: 3.3 percent, down from 3.5 percent. Among localities in the commonwealth, Arlington had the lowest unemployment rate, 2.5 percent, while Buchanan County had the highest, 8.9 percent. 2017-02-01T21:38:00+00:00 http://www.virginiabusiness.com/uploads2/hlrenaissanceports.jpg Renaissance Portsmouth Norfolk Waterfront Hotel courtesy Shamin Hotels http://www.virginiabusiness.com/news/article/shamin-hotels-buys-portsmouth-norfolk-renaissance-waterfront-hotel-for-9.2 Shamin Hotels buys Renaissance Portsmouth Norfolk Waterfront Hotel http://www.virginiabusiness.com/news/article/shamin-hotels-buys-portsmouth-norfolk-renaissance-waterfront-hotel-for-9.2 http://www.virginiabusiness.com/news/article/shamin-hotels-buys-portsmouth-norfolk-renaissance-waterfront-hotel-for-9.2#When:20:46:00Z Shamin Hotels, one of Central Virginia’s largest hotel operators, has purchased the 249-room Renaissance Portsmouth Norfolk Waterfront Hotel for $9.2 million. The transaction with seller Ashford Hospitality Trust closed on Feb. 1, said Neil Amin, CEO of Shamin Hotels. The purchase brings Shamin’s Hampton Roads portfolio to seven hotels. Altogether the company, based in Chesterfield County, owns 49 properties, with most of them in Virginia. Adding a conference center hotel to its portfolio is a good move, Amin said, because his company has done well with other conference center hotels.  “It’s an upscale buy, a full-service conference center destination hotel. That’s what is exciting about it. We’ve had great success with our Hilton in Short Pump. This hotel is similar to that,” he said referring to a Shamin property in western Henrico County. The Portsmouth hotel’s location on the downtown waterfront, just a short boat ride away from downtown Norfolk,  also is a plus, he adds. “We believe Portsmouth has a lot of potential. It has a vibrant downtown, and there's a lot of new development occurring. The port expansion is a great win for the area. We believe in the long-term future of the city.” John L. Rowe Jr., Portsmouth's mayor, said the city welcomes Shamin Hotel's interest. “They have shared their plans for the property, and we are especially excited about their desire to highlight its location along the bustling urban waterfront and to attract more diners, overnight guests and meetings.” The 17-story Renaissance Hotel, built in 2001, will be modernized. While Amin did not say how much his company will invest, work is expected to begin late this year, taking about two years to complete. “It's a beautiful hotel, but it's a little more traditional ... We will be doing pretty much everything — the guest rooms, the public space, making it a little more modern. We’ll update the food and beverage outlets and focus more on a lifestyle design.”  The hotel will remain open during the renovations. “It gets a lot of group business. It has a tremendous amount of meeting space,” said Amin. Altogether, the hotel has 24,000 square feet of meeting and conference space, including an 11,754-square-foot ballroom and a 1,755-square-foot amphitheater.  The property also has a spacious outdoor terrace, Amin added, which provides views of the ship traffic up and down the city’s waterfront. 2017-02-01T20:46:00+00:00 http://www.virginiabusiness.com/uploads2/1812_-_North_Moore.jpg Photo courtesy Monday Properties http://www.virginiabusiness.com/news/article/nestle-usa-will-relocate-u.s.-headquarters-to-arlington-county Nestlé USA will relocate U.S. headquarters to Arlington County http://www.virginiabusiness.com/news/article/nestle-usa-will-relocate-u.s.-headquarters-to-arlington-county http://www.virginiabusiness.com/news/article/nestle-usa-will-relocate-u.s.-headquarters-to-arlington-county#When:20:17:00Z Nestlé USA Inc. will relocate its U.S. headquarters from Glendale, Calif., to an office tower in Rosslyn in Arlington County. In announcing the relocation Wednesday afternoon with Gov. Terry McAuliffe, Monday Properties said the food and nutrition giant will be the anchor tenant in what has been an empty building, with Nestlé planning to invest $39.8 million and create 748 new jobs in its new headquarters.  “Adding a global brand like Nestlé USA to Virginia’s corporate roster is a huge win for our commonwealth,” said Gov. McAuliffe, speaking at the announcement. “… As we continue to work to diversify our economy, I am particularly proud that this great company will locate in a property that has sat empty as the area and our entire state grappled with defense cuts and sequestration.’’ According to Monday Properties, which built the 35-story building, Nestlé will initially lease 40 percent of the building, or 206,000 square feet, with the ability to expand to more than 250,000 square feet of space. Monday finished the 537,000-square-foot building in late 2013 and has been working since to fill the space, holding out for a major tenant rather than break up the space into smaller blocks for smaller tenants. “Monday Properties is proud to welcome Nestlé, one of the world’s finest companies, to our landmark property, 1812 North Moore Street, in the heart of Rosslyn,” Anthony Westreich, CEO of Monday Properties, said in a statement."...As a natural continuation of Washington, D.C.'s office market, Rosslyn is attracting businesses and corporations of all sizes -- a trend that will continue going forward." Nestlé USA is a subsidiary of Nestlé S.A., a leading global nutrition, health and wellness company based in Switzerland. In the U.S., the company has eight main businesses: Nestlé USA, Nestlé Purina PetCare Co., Nestlé Waters North America, Nestlé Nutrition, Nestlé Professional, Nespresso, Nestlé Skin Health and Nestlé Health Science. Together, the companies operate in more than 120 locations in 47 states and employ more than 51,000 people. In 2015, U.S. Nestlé product sales topped $26 billion, making it the largest Nestlé market in the world. The Rosslyn lease culminates what was an extensive and wide-ranging relocation search effort by Nestlé. “Nestlé USA carefully considered a number of locations and Arlington hits all the marks,” Paul Grimwood, the company’s chairman and CEO, said in a statement. “The area offers appealing benefits for our current employees, as well as a great talent pool for the future. This location allows us to be closer to our business operations, our customers and other important stakeholders.”  For Monday Properties, the magnitude of securing one of the most widely recognized corporate brands in the world reinforced the firm’s initial strategy of holding firm while carrying the building for more than three years. While it might have been tempting to pivot to smaller leases when times were tough, “It would have ruined our competitive advantage," Tim Helmig, Monday’s president and COO, told Virginia Business. "Good things come to those who wait.  The wait was painful, but it worked out for us in the end.” According to Helmig, Nestlé officials saw the building in September and looked at other options in the greater Washington region. For a major real estate deal, things came together fairly quickly, he said. Soaring 390 feet, Monday's LEED platinum-certified building is metro Washington’s tallest, and it offers panoramic views of D.C. and the National Mall. The Virginia Economic Development Partnership worked with Arlington County to secure the project for Virginia. Gov. McAuliffe approved a $6 million grant from the Commonwealth Opportunity Fund to assist the county with the project. The Governor, in consultation with the General Assembly's Major Employment and Investment Commission, said he also approved $4 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). VEDIG was established as a self-funded program of performance-based incentives that the Commonwealth awards to exceptional economic development projects with large numbers of employees and high wages relative to average wages for that particular area. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. Lou Christopher and R. Todd Doney of CBRE represented Nestlé in the transaction while the landlord team was represented by Helmig, Freeman and John Wharton at Monday Properties and Evan Behr and Doug Mueller at JLL.      2017-02-01T20:17:00+00:00 http://www.virginiabusiness.com/news/article/new-president-installed-at-astm-international New president installed at ASTM International http://www.virginiabusiness.com/news/article/new-president-installed-at-astm-international http://www.virginiabusiness.com/news/article/new-president-installed-at-astm-international#When:20:06:00Z Katharine “Kathie” Morgan began work Wednesday as the new president of ASTM International, a major standards development organization. She succeeds James A. Thomas, who served as president for 25 years. Morgan has worked for ASTM for 33 years. She was executive vice president for the past two years. Before that, she was vice president of technical committee operations, leading a 50-member team that supports the volunteer work of ASTM’s 30,000 members. Morgan is a board member of the American National Standards Institute’s board of directors, the Council of Engineering and Scientific Executives, the International Consumer Product Health and Safety Organization, the Society for Standards Professionals (SES), the American Society of Association Executives, and a former member of the Standards Council of Canada’s Standards Development Organization Advisory Committee. Morgan holds a bachelor’s degree in chemical engineering from Lafayette College in Easton, Pa., and a master’s degree in business administration from Widener University in Chester, Pa. 2017-02-01T20:06:00+00:00 http://www.virginiabusiness.com/companies/article/binary-fountain-names-vice-president-of-sales-and-marketing Binary Fountain names vice president of sales and marketing http://www.virginiabusiness.com/companies/article/binary-fountain-names-vice-president-of-sales-and-marketing http://www.virginiabusiness.com/companies/article/binary-fountain-names-vice-president-of-sales-and-marketing#When:20:02:00Z Michael Grant has been named vice president of sales and marketing for McLean-based Binary Fountain, a provider of patient feedback management solutions. Grant will spearhead the company’s growth initiatives and oversee its sales and marketing teams. He has more than 18 years of experience in sales and marketing. Grant has held a number of leadership positions, including service sales leader at IBM, and vice president of sales at iland as well as Virtacore Systems Inc. 2017-02-01T20:02:00+00:00 http://www.virginiabusiness.com/news/article/short-pump-town-center-announces-six-new-tenants Short Pump Town Center announces six new tenants http://www.virginiabusiness.com/news/article/short-pump-town-center-announces-six-new-tenants http://www.virginiabusiness.com/news/article/short-pump-town-center-announces-six-new-tenants#When:19:04:00Z Short Pump Town Center in western Henrico County announced six new tenants on Wednesday, including two new restaurants, a women’s clothing store and a digital banking café. “As a shopping center, we continue to look for ways to evolve and provide our shoppers with experiences they can’t get online,” Kem Blue, vice president and general manager of Short Pump Town Center, said in a statement. Here’s a list of the new tenants and their opening dates: Capital One Café, now open. This bank branch is built on digital tools. It offers fee-free ATMs, free Wi-Fi, coffee and food options from local vendors such as Pearl’s Cupcakes. This is Virginia’s first Capital One Café. Cynthia Steele, opening in February. A full service dress salon offering day, formal and after-six wear. Brands include Terani Couture, BCBGMAXAZRIA, Teri Jon, Kay Unger, Aidan Mattox,Adrianna Papell, Elizabeth McKay, Nicole Miller, JAX Black Label and several others. Great Steak/Surf City Squeeze, opening in March. Menu includes a complete line of specialty sandwiches, fries and baked potatoes. Surf City Squeeze is a fresh smoothie business. Talbots, opening this summer. The women’s retailer, known for its modern classic style, will occupy a 3,832-square-foot store featuring misses and petite collections. It also carries shoes and accessories. Casa Del Barco, opening this summer.  This is the second location for the Mexican restaurant that initially opened its doors in downtown Richmond. At this location, people will be able to dine or lounge in an open-air rooftop area known as a tequileria. Cava, opening this summer. The Mediterranean-focused fast casual restaurant partners with local food artisans and farmers in each of its Cava Grill communities. 2017-02-01T19:04:00+00:00 http://www.virginiabusiness.com/uploads2/A.14_PERSPECTIVE.jpg Rendering courtesy Casa del Barco http://www.virginiabusiness.com/news/article/second-casa-del-barco-restaurant-coming-to-short-pump-town-center Second Casa del Barco restaurant coming to Short Pump Town Center http://www.virginiabusiness.com/news/article/second-casa-del-barco-restaurant-coming-to-short-pump-town-center http://www.virginiabusiness.com/news/article/second-casa-del-barco-restaurant-coming-to-short-pump-town-center#When:16:16:00Z Kevin Healy, owner of the Boathouse Group family of local restaurants, continues to grow his brand in Richmond with the announcement of a second Casa del Barco restaurant. Healy said Wednesday that he plans to open a second location this summer at Short Pump Town Center. The Mexican restaurant will join a sister restaurant, The Boathouse at Short Pump Town Center, as one of a few locally owned restaurants available at the regional shopping center. “We wanted to find the right fit for our second Casa del Barco location and when the opportunity to open at Short Pump Town Center was available, we knew we couldn’t pass it up,” Healy said in a statement. Casa del Barco, which literally translates to “boat house”, is part of The Boathouse Group that includes the original Casa del Barco location in downtown Richmond and three locations of The Boathouse, including The Boathouse at Sunday Park, The Boathouse at Rocketts Landing and The Boathouse at Short Pump Town Center. The Boathouse at City Point in Hopewell is also set to open in 2017. Healy also owns Dinner in the Field. The new Casa del Barco will begin hiring for what is expected to be about 85 new jobs in June. “We’ve been a part of the Richmond dining community for almost 30 years, and we don’t plan on stopping anytime soon,” Healy said. “Our continued growth is a really a testament to our guests and employees who have allowed us to expand, and we’re so thankful for their commitment to all of our restaurants.” The 8,400-square-foot space will include an open-air rooftop tequileria with a menu of 200 tequilas or mezcals. The restaurant will offer private dining for large groups and will be open for lunch, dinner and Sunday brunch.  The menu will be similar to the original Casa del Barco location. Guests can expect Mexican cuisine and cocktails inspired by travel to Mexico. In November, the company said it sent Casa del Barco chefs to the Oaxaca region of Mexico to study the authentic cuisine of the region to add to the flavor and uniqueness of the menu. “We’re excited to add another local restaurant to our list of dining options here at Short Pump Town Center,” Kem Blue, general manager at Short Pump Town Center, said in a statement. 2017-02-01T16:16:00+00:00 http://www.virginiabusiness.com/news/article/old-point-financial-and-morgan-marrow-to-establish-insurance-company Old Point Financial and Morgan Marrow to establish insurance company http://www.virginiabusiness.com/news/article/old-point-financial-and-morgan-marrow-to-establish-insurance-company http://www.virginiabusiness.com/news/article/old-point-financial-and-morgan-marrow-to-establish-insurance-company#When:09:32:00Z Old Point Financial Corp. and Morgan Marrow Co. have agreed to establish Old Point Insurance LLC, which will be a wholly-owned subsidiary of Old Point National Bank. Both companies are headquartered in Hampton Roads. The agreement allows Old Point Insurance to expand its services, while Morgan Marrow will be able to expand its business throughout Old Point’s customer base. Old Point Insurance will offer commercial insurance products, such as property, liability, group health/life and workers’ compensation.  Its personal insurance products will include home, flood, automobile, life and health policies. Under the agreement, Old Point will handle all marketing and referral efforts, while Morgan Marrow will manage sales of Old Point Insurance products. 2017-02-01T09:32:00+00:00 http://www.virginiabusiness.com/news/article/new-medical-office-building-coming-to-reynolds-crossing-in-henrico-county New medical office building coming to Reynolds Crossing in Henrico County http://www.virginiabusiness.com/news/article/new-medical-office-building-coming-to-reynolds-crossing-in-henrico-county http://www.virginiabusiness.com/news/article/new-medical-office-building-coming-to-reynolds-crossing-in-henrico-county#When:03:39:00Z   Reynolds Development said Tuesday that it will build a 49,200-square-foot, medical office building in the mixed-use development of Reynolds Crossing in Henrico County that will be occupied by two joint venture tenants. The anchor tenants will be Virginia Eye Institute, which will occupy the first floor of 23,443 square feet, and Dermatology Associates of Virginia P.C., which will take 13,372 square feet on the second floor.  That would leave 9,586 square feet available to lease. CBRE|Richmond, which announced the project, will be responsible for leasing. The building will front Glenside Drive next to the Shoppes at Reynolds Crossing. “VEI is looking forward to this new project which will improve access to our patients …” VEI’s CEO Brad Smith said in a statement.  Rachel Downey, practice administrator with Dermatology Associates, said, “We are excited to be building in an area that is easily accessible and where we will join other medical practices already located in the Reynolds Crossing development.” Other tenants at the development include include Altria Group Inc., The Westin Richmond , CBRE|Richmond, Sheltering Arms, Bon Secours Richmond Health System, Virginia Urology and Virginia Cancer Institute. . 2017-02-01T03:39:00+00:00 http://www.virginiabusiness.com/news/article/starr-hill-opening-roanoke-location-in-the-fall Starr Hill opening Roanoke location in the fall http://www.virginiabusiness.com/news/article/starr-hill-opening-roanoke-location-in-the-fall http://www.virginiabusiness.com/news/article/starr-hill-opening-roanoke-location-in-the-fall#When:21:48:00Z Crozet-based Starr Hill Brewery is opening a second location in Roanoke in the fall. The company says the brewery will showcase new beers and live music. It will be housed within a historic building on 6 Old Whitmore Ave. in The Bridges neighborhood. “With flagship brands taking precedence at our production facility in Crozet, this pilot system presents us with the opportunity to really show off our brewing talents and new ideas to fans in Roanoke and beyond,” Robbie O’Cain, Star Hill’s brewmaster, said in a statement. The Roanoke brewery will house a custom five-barrel brewing system, allowing it to produce upwards of 50 limited release batches of beer each year. Founded in Charlottesville in 1999, Starr Hill is the largest independent brewery in Virginia. It distributes throughout the mid-Atlantic and Southeastern United States. 2017-01-31T21:48:00+00:00 http://www.virginiabusiness.com/news/article/roanoke-based-evrichart-inc.-is-acquired Roanoke-based EvriChart Inc. is acquired http://www.virginiabusiness.com/news/article/roanoke-based-evrichart-inc.-is-acquired http://www.virginiabusiness.com/news/article/roanoke-based-evrichart-inc.-is-acquired#When:21:46:00Z Vital Records Control (VRC) has acquired Roanoke-based EvriChart Inc., a provider of health-care information management solutions to hospitals and health systems throughout the U.S. Financial details of the acquisition were not available. EvriChart was founded in 2002 by Gayle Keith, John King and Pat King. In addition to Roanoke, it has operations in Low Moor in Virginia plus White Sulphur Springs, W.Va., and Springfield, Mo. EvriChart employs nearly 100 people, who will continue serving clients as employees of VRC, which is based in Memphis, Tenn. VRC is an information management and storage company that serves scores of Fortune 500 companies and thousands of regional, state, and local companies throughout the country. The company has locations in Richmond and in eight other states serving customers in more than 30 states. Manakin Sabot-based Windward Advisors LLC acted as exclusive adviser to EvriChart in the transaction. Clark Worthy, a partner with the law firm of Gentry Locke; Marty Boone; a partner with the CPA firm of Anderson & Reed LLP; and Becky Kennedy, a contract controller, were advisers on the team that structured, negotiated and closed the deal. 2017-01-31T21:46:00+00:00 http://www.virginiabusiness.com/news/article/kroger-virginia-pharmacies-dispense-opioid-overdose-medicine Kroger Virginia pharmacies dispense opioid overdose medicine http://www.virginiabusiness.com/news/article/kroger-virginia-pharmacies-dispense-opioid-overdose-medicine http://www.virginiabusiness.com/news/article/kroger-virginia-pharmacies-dispense-opioid-overdose-medicine#When:21:48:00Z      Kroger said Monday that its 64 pharmacies in Virginia are making the opioid overdose reversal medicine Naloxone available without a prescription.       In response to a rising number of deaths, Virginia State Health Commissioner Marissa Levine declared the opioid addiction crisis a public health emergency in late November. Levine issued a standing order allowing all Virginians to obtain the drug Naloxone, which can be used to treat narcotic overdoses in emergency situations.       In Virginia, more people die from fatal opioid overdoses than fatal car accidents with the numbers for 2016 expected to be up by more than 77 percent compared to five years ago.  The rising death toll here is part of a larger epidemic, according to the Centers for Disease Control. It reported that 61 percent of U.S. drug overdose deaths in 2014 involved some type of opioid, resulting in nearly 29,000 deaths.       “Pharmacists play an important role in combating opioid addiction,” Caroline D. Juran, executive director of the Virginia Board of Pharmacy, said in a statement.  “By allowing Naloxone to be safely and responsibly issued by pharmacists to anyone in Virginia, friends and family members of individuals struggling with addiction can take a much-needed step towards preventing overdoses of loved ones.”       Michelle Fountain of Kroger’s mid-Atlantic division based in Roanoke said the company has provided pharmacists with additional training and guidance on substance abuse.  “We have produced educational materials for patients, and we now are prepared to dispense Naloxone. In this way, Kroger pharmacies will help make a life-saving tool available to those who have a family member or friend who suffers from an opiate addiction,” she said.          The cost to the patient varies with different insurance plans, the company said.      Kroger pharmacies are located in Hampton Roads, the Richmond region, the Roanoke Valley, Charlottesville, Lynchburg, the New River Valley, Abingdon, Bristol, Martinsville, Rocky Mount, Smith Mountain Lake, Clifton Forge, Lexington, Waynesboro, Staunton, Harrisonburg and Appomattox. 2017-01-30T21:48:00+00:00 http://www.virginiabusiness.com/news/article/private-equity-firm-purchases-fishbowl Private equity firm purchases Fishbowl http://www.virginiabusiness.com/news/article/private-equity-firm-purchases-fishbowl http://www.virginiabusiness.com/news/article/private-equity-firm-purchases-fishbowl#When:21:05:00Z Fishbowl Inc. has been purchased by Symphony Technology Group (STG), a Palo Alto, Calif.-based private equity firm. Financial terms of the deal were not disclosed. Used by more than 70,000 restaurants, Alexandria-based Fishbowl provides a customer engagement platform to the restaurant industry. Marc Bala, STG managing director, and Adam Hendricks, STG vice president, will join Fishbowl’s board of directors. STG is a private equity firm with $2 billion in assets under management. Its portfolio includes software, data and analytics companies. “STG’s investment and strategic support will allow us to continue to scale our platform, empower restaurant brands to deliver successful customer experience and engagement, and revolutionize the restaurant industry,” Dev Ganesan, CEO of Fishbowl, said in a statement. Fishbowl’s customer engagement platform analyzes data from many sources, including email, mobile, online ordering, reservations, and loyalty for restaurants. It is headquartered in Alexandria and has offices in the Silicon Valley, United Kingdom and India. Canaccord Genuity acted as the exclusive financial advisor to Fishbowl. 2017-01-30T21:05:00+00:00 http://www.virginiabusiness.com/news/article/jkh-holdings-to-move-headquarters-to-gramercy-district JKH Holdings to move headquarters to Gramercy District http://www.virginiabusiness.com/news/article/jkh-holdings-to-move-headquarters-to-gramercy-district http://www.virginiabusiness.com/news/article/jkh-holdings-to-move-headquarters-to-gramercy-district#When:16:57:00Z JKH Holdings plans to move its global headquarters to Gramercy District, a “smart city” development in Loudoun County. According to 22 CityLink, the project’s developer, JKH Holdings will become a tenant at Gramercy District in addition to being a technology partner. JKH joins other big-name companies that are partners in the project, but so far it is the first partner to agree to become a tenant at the project, which will be adjacent to the future Ashburn Metro station. Some of the other partners are Microsoft, Avaya and the Center for Innovative Technology. 22 CityLink says the project  will create an environment “where entrepreneurs, businesses, academia and governments can flourish through technology, collaboration and innovation.” JKH Holdings is a business conglomerate including companies in many technology and service areas. Currently, its global U.S. office is located in McLean. “We are excited to move our headquarters to Gramercy District – a location where we can work and participate directly with this pioneering smart city initiative that is reshaping industries and the way people live,” Javad Hassan, chairman and founder of JKH Holdings, said in a statement.  According to a release, JKH has more than 4,000 employees spread across five geographic regions in companies that generate revenue of $400 million annually. According to the Washington Business Journal, the company would lease space in a Phase One building that would include 55,000 square feet of office and co-working space, ground-floor retail and 350 apartments. That building is expected to open by the second quarter of 2019, or about a year before the Silver Line metro extension to Loudoun is scheduled to begin. Gramercy District has been planned as a $500 million project with 2.5 million square feet of mixed-use development at a transit-oriented location. Gramercy District will be 22 CityLink’s first ground-up development located in the greater Washington area.   2017-01-30T16:57:00+00:00 http://www.virginiabusiness.com/news/article/office-occupany-ticks-up-slightly-in-roanoke-in-2016 Office occupany ticks up slightly in Roanoke in 2016 http://www.virginiabusiness.com/news/article/office-occupany-ticks-up-slightly-in-roanoke-in-2016 http://www.virginiabusiness.com/news/article/office-occupany-ticks-up-slightly-in-roanoke-in-2016#When:16:12:00Z Office occupancy increased slightly in Roanoke last year, from 81 percent to 82 percent, according to Poe & Cronk Real Estate Group’s 30th Annual Office Market Survey. “2016 was about the start of the recovery cycle for our office market. We are seeing an increase in demand for quality office space as we repositioned and reformatted space to meet the needs of modern office users,” Matt Huff, executive vice president and chief operating office of Poe & Cronk, said in a statement. The increase in occupancy rates in the city’s central business and suburban business districts represents a change in momentum compared to a 5 percent decline in office occupancy the previous year. The Poe & Cronk report says the upward trend indicates continued improvement for 2017 as older, less functional space continues to be renovated or repurposed for a different use. “The upcoming challenge for landlords and tenants will be affordable and accessible parking,” said Huff.  He noted that as tenants continue to strive for efficiency, more people are occupying less space. “We used to space plan around 250 square feet per employee inclusive of common areas. Employers are now seeking to lower that average to around 175 square feet. Going forward this will drive a premium for properties with adequate parking and will affect how and where new office space is developed.” Poe & Cronk developed Roanoke’s office market survey in 1987 and has conducted it annually. This year’s survey incorporates data covering more than 100 nongovernmental office buildings measuring 10,000 square feet or more. 2017-01-30T16:12:00+00:00 http://www.virginiabusiness.com/uploads2/image002.jpeg 2020 General Booth Boulevard courtesy of Divaris Real Estate Inc. http://www.virginiabusiness.com/news/article/office-building-in-virginia-beach-sells-for-1.6-million Office building in Virginia Beach sells for $1.6 million http://www.virginiabusiness.com/news/article/office-building-in-virginia-beach-sells-for-1.6-million http://www.virginiabusiness.com/news/article/office-building-in-virginia-beach-sells-for-1.6-million#When:16:09:00Z Divaris Real Estate Inc. represented Chardave 2020 LLC in the $1.6 million sale of a two-story office building on General Booth Boulevard in Virginia Beach to H2H Group Chadswyck LLC. Jason Oliver and Vivian Turok from Divaris team brokered the deal. Turok and Oliver also represented the previous owner in the original acquisition of the property in 2014 for $600,000.  The property then underwent an extensive renovation. Divaris says the building was 95 percent leased at the time of the sale. Virginia Eye Consultants occupies the entire first floor.  Divaris Property Management Corp will manage the building for the new owner. 2017-01-30T16:09:00+00:00 http://www.virginiabusiness.com/news/article/retail-property-on-cary-street-in-richmond-sells-for-1.5-million Retail property on Cary Street in Richmond sells for $1.5 million http://www.virginiabusiness.com/news/article/retail-property-on-cary-street-in-richmond-sells-for-1.5-million http://www.virginiabusiness.com/news/article/retail-property-on-cary-street-in-richmond-sells-for-1.5-million#When:15:38:00Z Moore Deepwater LLC has purchased three retail storefronts on West Cary Street from The Milkin Family Investments LLC for $1.5 million as an investment. According to Cushman & Wakefield | Thalhimer, which brokered the sale, the property is located at 3005 through 3009 W. Cary Street and totals about 6,690 square feet. Thalhimer’s Michael A. Shaia handled the sale negotiations on behalf of the seller. 2017-01-30T15:38:00+00:00 http://www.virginiabusiness.com/news/article/virginia-is-eighth-in-country-for-green-building Virginia is eighth in country for green building http://www.virginiabusiness.com/news/article/virginia-is-eighth-in-country-for-green-building http://www.virginiabusiness.com/news/article/virginia-is-eighth-in-country-for-green-building#When:15:35:00Z Virginia is among the top states in the country for LEED green building, according to the U.S. Green Building Council (USGBC).  In its 2016 ranking, Virginia came in eighth. The annual list highlights states that made significant strides in sustainable building design, construction and transformation during the past year.  With a total of 155 LEED certified projects representing 2.31 square feet of certified space per resident, Virginia is leading the charge in the green building movement in the United States, the organization said. “Virginia has been a phenomenal trailblazer in green building and LEED certifications and is leading the way toward a more sustainable future for generations to come,” Mahesh Ramanujam, president and CEO of USGBC, said in a statement. “… With each new LEED certification, we are lowering carbon emissions, creating a healthier environment, driving economic growth and prioritizing sustainable practices that will positively impact the way residents, communities and cities live, work and play.” A few notable projects tcertified in Virginia in 2016 were the  Woodrow Wilson Library in Falls Church; LEED gold; the  McLean Governmental Center in McLean; LEED gold; and the Crestview Firehouse 10 in Henrico; LEED gold. Now in its seventh year, the ranking assesses the total square feet of LEED-certified space per resident based on U.S. Census data. It includes commercial and institutional green building projects certified during 2016. In its 2015 Green Building Economic Impact Study, USGBC said LEED construction is expected to support 107,000 jobs and impact GDP by $9.3 billion from 2015-2018 in Virginia. Topping this year's list is Massachusetts. It moved from third to first place, with a total of 136 LEED-certified projects representing 3.73 square feet of certified space per resident. The other states in the 2016 top ten are: Colorado, Illinois, New York, California, Nevada, Maryland, Virginia, Washington and Texas. Collectively, 1,819 commercial and institutional projects achieved LEED certification in the 10 states representing 309.1 million gross square feet of real estate. Across the U.S., the USGBC said 3,366 projects were LEED-certified in 2016, representing 470.3 million square feet. 2017-01-30T15:35:00+00:00 http://www.virginiabusiness.com/companies/article/woods-rogers-names-two-new-principals Woods Rogers names two new principals http://www.virginiabusiness.com/companies/article/woods-rogers-names-two-new-principals http://www.virginiabusiness.com/companies/article/woods-rogers-names-two-new-principals#When:22:24:00Z Roanoke-based Woods Rogers PLC has named Carter Lee and Joshua Treece principals in the law firm. Lee’s practice concentrates on business litigation, medical malpractice defense and general civil litigation. He handles a wide range of cases involving construction, utilities and regulatory law. Lee is a major in the Virginia Army National Guard and is currently serving overseas. Treece practices labor and employment, litigation, and intellectual property law. He focuses his labor and employment practice on issues related to discrimination, E-Verify, I-9 compliance, harassment, healthcare reform, and unfair competition. His litigation practice concentrates on business torts, contract disputes, and intellectual property disputes. Both attorneys are based in Roanoke. In addition to Roanoke, Woods Rogers has offices in Charlottesville, Danville, Lynchburg and Richmond. 2017-01-27T22:24:00+00:00