$125M pharma manufacturing plant coming to Petersburg
Civica will manufacture COVID-19 medicines, partnering with Richmond's Phlow Corp.
Utah-based pharmaceutical manufacturer Civica Inc. plans to invest $124.5 million to establish its North American manufacturing headquarters operation in Petersburg, creating 186 jobs and manufacturing injectable medicines for the treatment of COVID-19, the governor’s office announced Thursday. A nonprofit generic drug company, Civica was established in 2018 by a group of U.S. health systems and
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Shareholders approve Blue Ridge, Bay Banks merger
Combined bank would have $1.9B in deposits
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Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to
Va. unemployment claims remain high, but new claims drop
Initial filings fall 25% from last week's spike
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Although the number of initial jobless claims filed last week dropped relative to the previous week, unemployment numbers remain high, according to figures released by the Virginia Employment Commission on Thursday. During the week ending Jan. 16, 21,073 Virginians filed initial claims, a 25.3% decline from the previous week, which saw 28,227 people file new
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CACI International executive chairman dies at 83
J. Philip "Jack" London helmed Arlington tech contractor for 23 years
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Arlington-based federal technology contractor CACI International Inc. announced Wednesday the death of J. Philip “Jack” London, the company’s executive chairman, at age 83. He served as chairman, president and CEO of the company from 1984 to 2007 and as executive chairman since 2007. “All of us at CACI are deeply saddened by Dr. London’s passing,”
Genworth notifies employees of job cuts
Eliminations come at heels of frozen acquisition by Oceanwide
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Henrico County-based Genworth Financial Inc. has notified some employees of job cuts, a company spokesperson confirmed Wednesday. The job cuts come on the heels of the company’s Jan. 4 announcement that its planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. Company spokesperson Julie Westermann declined to share the number
Transurban names new Va. exec
Jennifer Aument to leave in February, suceeded by Pierce Coffee
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Jennifer Aument, president of Transurban’s Falls Church-based North American operations, will leave to become chief executive of AECOM’s global transportation business. Aument will be succeeded by Pierce Coffee, who currently serves as Transurban’s vice president of customer experience and operations, according to an announcement Monday from the Australian company that operates the dynamically-tolled Express Lanes
New Hampton Roads bank raises $20M
Integrity Bank for Business meets stock purchase commitments
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Integrity Bank for Business, a new bank forming in Virginia Beach, has received signed subscription agreements for stock purchases totaling $20.285 million, it announced Tuesday. By Jan. 15, Integrity had received subscription agreements of $19.935 million by the closing date of the first phase of its stock offering; additional agreements of $350,000 were pending on
General Dynamics Information Technology lands $695M task order
Falls Church subsidiary to provide services to U.S. Army Europe, NATO
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Falls Church-based General Dynamics Information Technology Inc. (GDIT) announced Tuesday it has been awarded a $695 million U.S. Army Europe (USAREUR) Enterprise Mission Information Technology Services (EMITS) task order. Under the five-year task order, GDIT will deliver enterprise information technology, communications and mission command support services to USAREUR headquarters, the U.S. North Atlantic Treaty Organization
Chase stripped of last committee assignment in Senate
Censure resolution also moves forward in committee vote
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A resolution to censure state Sen. Amanda Chase moved forward Tuesday, and the embattled Republican from Chesterfield County also was stripped of her last committee assignment, although not without objections. Chase left the Virginia Senate Republican Caucus in 2019 after Sen. Thomas K. Norment Jr., R-James City, was re-elected as the Senate party leader. At
Herndon franchise software firm buys Canadian tech platform
FranConnect acquires FranchiseBlast
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Herndon-based franchise management software company FranConnect announced Tuesday it has acquired Quebec, Canada-based FranchiseBlast. Financial terms of the transaction were not disclosed. The FranConnect platform assists with sales, operations and marketing for more than 800 brands worldwide. FranchiseBlast is a developer of a software platform for the franchise industry which works to streamline scheduling, performing,
Chantilly-based VTG acquires Fairfax’s Intelligent Shift
Intelligent Shift develops technology for U.S. intelligence organizations
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Chantilly-based engineering firm VTG announced Jan. 13 it has acquired Fairfax-based tech company Intelligent Shift. Financial terms of the transaction were not disclosed. VTG provides services for naval, aerospace and digital projects, while Intelligent Shift develops technology for U.S. intelligence organizations. The transaction will strengthen VTG’s systems, software and digital engineering capabilities, according to a
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Sentara hires supply chain exec
Jennifer McPherren joins the Norfolk-based health care system
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Norfolk-based Sentara Healthcare announced Thursday it has hired Jennifer McPherren as its vice president of supply chain, effective March 15. She succeeds Doug Farley who retired in May 2020. McPherren serves as the vice president of supply chain management and procurement services with Northwestern Memorial Healthcare in Chicago. In her new role, she will focus
Fairfax tech company names growth VP
Art Boghozian joins Pyramid Systems
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Fairfax-based tech company Pyramid Systems announced Wednesday it has hired Art Boghozian as its vice president of growth. Boghozian most recently served as the director of business development for strategic accounts for Reston-based Fortune 500 defense contractor Science Applications International Corp.’s (SAIC) National Security Group. In his new role, he will focus on the company’s
Neustar announces leadership appointments
Sterling-based tech company welcomes five to executive team
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Sterling-based identity management tech company Neustar on Jan. 15 announced five new appointments to its executive team. The appointments include: Michael Schoen, senior vice president of marketing solutions Bob McKay, senior vice president of risk solutions Jimmy Garvert, senior vice president of communications solutions Hyune Hand, senior vice president of customer success J. Martin, chief
DroneUp names chief strategy officer
Carl Smit joins Virginia Beach-based drone solutions company
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Virginia Beach-based DroneUp LLC announced Tuesday it has hired Carl Smit as its chief strategy officer. In his new role, he will advise CEO Tom Walker and DroneUp’s senior leadership team to set the strategic direction of the company and focus on growing its retail drone delivery offerings. He will also oversee corporate development including
Opinion
5 ways Va. can put people back to work and transform higher education
Common-sense policy reforms and investments in community colleges will support economic recovery efforts
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It’s tempting these days to believe that once COVID-19 is contained, the U.S. economy will bounce back quickly, replenishing jobs and incomes lost in the pandemic. Yet there are early warning signs that when the labor market fully reopens, some high-demand jobs may be hard to fill even with millions of Americans looking for work.
Let’s make business cool again
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Back in my high school days, I recall longing to be one of the “cool kids.” Guys with names like Matt or Jim. This was a time of jocks and cheerleaders. I wasn’t great at sports, but I liked cheerleaders. I tried following in my older brother’s footsteps by being a yearbook photographer. Maybe I
The Mailroom
A time for unity
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Thanks for inviting me to participate in the 2020 Virginia Business Political Roundtable. It was a very stimulating and thought-provoking discussion. One loud message came through following the Nov. 3 election — America is a nation divided. The results showed that the path forward must address that divide, or we will never achieve the unity
OurView: How did it get so late so soon?
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On the subject of time, the much-beloved children’s book author Dr. Seuss once wrote, “How did it get so late so soon?” With December here, that’s an almost perfect description of 2020. How did it get so late, so soon? Most of the past 8 to 9 months have been characterized by an almost immutable