258 Va. companies make this year’s Inc. 5000
Richmond IT staffing agency is top-ranked in state at No. 20
This year, 258 Virginia companies made the Inc. 5000 list of the nation’s 5,000 fastest-growing privately held companies. Inc. magazine released the annual compendium Tuesday. Coming in at No. 20 overall, Summit Human Capital was the top-ranked Virginia company on the list. Founded in 2018, the Richmond-based information technology staffing firm serves commercial and government clients,
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Skanska wins $223M contract for offshore wind farm prep
Construction firm to prep Dominion Energy staging area
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New York-based Skanska USA won the $223 million contract to redevelop the 72 acres of the Portsmouth Marine Terminal that Dominion Energy Inc. will use as a staging area for its $9.8 billion Coastal Virginia Offshore Wind project. The company announced the award on Tuesday. The CVOW calls for the construction of 176 wind turbines
Virginia Transformer Corp. launches EV charger module
Roanoke company expects to expand manufacturing, create 30 jobs
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Roanoke-based power transformer manufacturer Virginia Transformer Corp. has entered the electric vehicle market by launching a manufacturing division to create components for commercial electric vehicle power chargers, with plans to expand the initiative, the company announced Monday. Commercial customers can build self-contained, scalable power modules from VTC’s new product, E2V. The unit includes multiple elements
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Virginia Lottery reports record $3.75B in revenue
Sales up about 15% from FY21
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The Virginia Lottery posted record sales of $3.75 billion and a record of almost $779.6 million in profits for fiscal year 2022, the lottery’s board announced Tuesday. Sales increased roughly 15% from last year, and the lottery’s profits increased about 1.9% over the prior fiscal year’s record. The lottery’s fiscal year ends on June 30.
Fluence announces next CEO, president
Julian Nebreda will take over Arlington energy unicorn on Sept. 1
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Julian Nebreda will become Arlington-based energy storage and digital applications company Fluence Energy Inc.’s president and CEO on Sept. 1. Nebrada succeeds Manuel Pérez Dubuc, who will step down on Aug. 31. Nebreda has been a Fluence board member since September 2021 and was most recently executive vice president and president of U.S. & Global
Chesapeake warehouse sells for $13.59M
Property is 100% leased to the U.S. Postal Service
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A 70,000-square-foot warehouse and distribution building in Chesapeake sold for $13.59 million in late July, Colliers announced Wednesday. Located at 3512 Business Center Drive in the Cavalier Industrial Park, the property is 100% leased to the U.S. Postal Service and serves as a seasonal processing and distribution center. It totals 9.72 acres of land, with
July NoVa home sales drop 29% from 2021
Price growth slowed, inventory rose
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As price growth slowed and inventory increased slightly, Northern Virginia housing sales dropped 28.8% in July compared with last year, according to a Northern Virginia Association of Realtors report published Friday. “More options are available to homebuyers now that the market is calming. It remains a seller’s market, but the feeding frenzy has subsided somewhat,”
Hampton Roads’ July active house listings down
Listings down 10.65% from July 2021
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Hampton Roads’ active residential listings in July continued to lag behind monthly totals for the past four years, according to Real Estate Information Network Inc. data published in August. Active listings have dropped steadily every July since 2014. At the end of July, there were 4,129 homes actively listed in the region. In 2021, that
Va. Beach honors Ramon W. Breeden Jr.
Mayor Bobby Dyer proclaimed day in honor of real estate mogul
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Virginia Beach Mayor Bobby Dyer proclaimed Aug. 9, 2022, as Ramon W. Breeden Jr. Day, in honor of the real estate mogul. Since starting The Breeden Co. in 1961 out of the trunk of his Pontiac convertible and the back room of a grocery store, Breeden has led his company to be a vertically integrated
ODU names biz school dean
Kenneth B. Kahn is dean of Cleveland State University business school
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Old Dominion University has appointed Kenneth B. Kahn as dean of its Strome College of Business, effective Sept. 1. He succeeds Jeff Tanner, who served as dean for eight years. “Please join me in thanking Dean Jeff Tanner for his outstanding service and extending our best wishes on his retirement and welcoming Dean Kenneth Kahn
Kaléo launches government biz unit
Richmond pharma company also hires chief commercial officer
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Richmond-based Kaléo on Thursday announced the formation of a new government business unit to focus on domestic and international procurement of the company’s system to reverse the effect of weaponized opioids as well as to provide access to it for military and civilian stockpiles. Kaléo’s Rapid Opioid Countermeasure System (ROCS) is a 10 mg Naloxone
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DISYS hires new CFO
Mike Leroy is ASGN's VP of financial planning and analysis
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McLean-based staffing firm Digital Intelligence Systems LLC (DISYS) has tapped Mike Leroy as its new chief financial officer, effective Aug. 22. Leroy will oversee financial operations and management for DISYS and Signature Consultants, a Florida-based IT staffing firm that DISYS acquired in April 2021. “When we combined DISYS and Signature Consultants last year, our vision
Va. ABC hires chief digital and branding officer
Vida Williams is first to hold the position
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The Virginia Alcoholic Beverage Control Authority has named Vida Williams as its first chief digital and branding officer, the authority announced Thursday. Williams will guide the state ABC’s digital and web operations, communications and education with prevention teams, and support e-commerce initiatives. She started at the end of July. “Virginia ABC is committed to its
Downtown Norfolk Council adds 2 execs
Rachel McCall promoted, Laura Wood hired
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The Downtown Norfolk Council announced two leadership changes Monday. Rachel McCall has been promoted to vice president, from director of strategic initiatives. She has been with DNC since 2014 in a variety of roles, advancing the NEON District — Norfolk’s arts district — and other initiatives. In her new role, she will manage placemaking, oversee
PRA Group promotes exec to chief HR officer
LaTisha Tarrant starts new role Aug. 15
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Norfolk-based international debt acquisition company PRA Group Inc. has promoted executive LaTisha Tarrant to chief human resources officer. Tarrant will start her new role Aug. 15. She currently serves as senior vice president, deputy general counsel and corporate secretary for the global financial services company. She has worked for PRA Group since 2016. “Talent recruitment,
Opinion
Breaking rank
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What a difference a year makes. On July 13, 2021, against a backdrop of ships blasting their horns and spraying water in celebration at the Port of Virginia’s Norfolk International Terminals, Gov. Ralph Northam sat for a harborside interview with CNBC, which had just named Virginia the nation’s best state for business for an unprecedented
Higher gas prices are needed
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The U.S. inflation rate, which reached 8.6% in May, is at its highest point in 40 years. In 1982, it was just over 6%. Since then, the U.S. inflation rate has hovered mostly in the 2% to 4% range. The inflation rate is determined by changes in the cost of a fixed basket of 80,000
The evolving workplace (or what I wish I told my younger self)
Advice from retiring Ernst & Young exec Rich Jeanneret
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In 1983, when I walked through the doors of my first job in Washington, D.C., I could have never anticipated where life would take me — from a young staff accountant to a vice chair at Ernst & Young, advising C-suites and boards, as well as leading thousands of professionals. And now it’s bittersweet to
Interesting times
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History doesn’t repeat itself, but it often rhymes, according to an apt but apocryphal quote frequently misattributed to Mark Twain. We’re certainly seeing that dynamic writ large in the 2020s, though events don’t seem content with reviving just one era. A deadly pandemic has taken millions of lives across the globe. Inflation and mortgage rates