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Va. is first Southern state to join Regional Greenhouse Gas Initiative
RGGI combats climate change, reduce greenhouse gas emissions
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Gov. Ralph Northam announced Wednesday that Virginia is the first Southern state to join the Regional Greenhouse Gas Initiative (RGGI), a collaborative among Northeast and mid-Atlantic states intended to combat climate change and reduce power sector greenhouse gas emissions through a “cap-and-invest” program. “As the southernmost state to join RGGI, Virginia is sending a powerful
Bausch + Lomb to expand, create 79 jobs in Lynchburg
Company will invest $35M, governor announces
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Bausch + Lomb plans to invest more than $35 million to expand its contact lens products manufacturing facility in Lynchburg, creating 79 jobs over the next five years, Gov. Ralph Northam announced Wednesday. The new plant, which will be on 13.1 acres across from its existing facility on Graves Mill Road, will be the main
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Colonial Heights joins Richmond Region Tourism
The organization now markets eight localities to potential visitors
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The city of Colonial Heights has signed on as a Richmond Region Tourism partner locality, the organization announced Wednesday. With the partnership, Richmond Region Tourism will support Colonial Heights’ tourism efforts as the state is reopening during COVID-19. “We look forward to collaborating with Richmond Region Tourism to market Colonial Heights to visitors as the
Bon Secours seeks to expand Suffolk hospital
Proposal increases square footage, number of beds
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Bon Secours Mercy Health announced on Monday it has filed a certificate of public need (COPN) to expand its Suffolk hospital by 67,000 square feet and add up to 36 beds. The proposed expansion stems from the increased need for inpatient beds, resulting from findings from the COVID-19 pandemic and population growth in the area.
Private equity firm acquires Herndon tech company
Thoma Bravo buys Exostar; transaction amount not disclosed
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Herndon-based tech company Exostar LLC announced Tuesday it has been acquired by Chicago-based private equity firm Thoma Bravo LLC. The acquisition was first announced in early June. The transaction amount was not disclosed. Exostar is a cloud-based platform that allows companies to securely share information and operate with security compliance. The platform is used by
Altria’s tobacco heating system approved as ‘modified risk’ product
FDA says IQOS will be allowed to be marketed as having fewer health risks than cigarettes
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Henrico County-based Altria Group Inc.’s IQOS tobacco heating system will be allowed to be marketed as a “modified risk” product, the U.S. Food and Drug Administration ruled Tuesday. IQOS is available in 53 countries, and more than 10 million people have purchased the system, which is marketed to adult smokers seeking to quit cigarettes. According
PNC names new Greater Washington regional president
Jermaine Johnson will succeed Richard Bynum
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Pittsburgh-based PNC Financial Services Group Inc. announced Tuesday that Jermaine Johnson will succeed Richard K. Bynum as Greater Washington regional president as of Aug. 1, overseeing the bank’s operations in the greater Washington, D.C., area, including Northern Virginia and surrounding Maryland counties. Currently the market leader of corporate banking for the Greater Washington, D.C., and
Northam speeds up Virginia’s clean energy timetable
Clean Energy Virginia initiative aims for carbon-free electricity production by 2045
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The governor announced Tuesday the Clean Energy Virginia initiative, a project that aims to generate 100% of Virginia’s electricity from carbon-free sources by 2045 while investing in solar and wind energy and battery storage. “Virginia has a unique opportunity to fundamentally transform the state’s electric grid in a way that powers our COVID-19 economic recovery
Va. real estate firms close deal on $10.35M Tampa building
Commonwealth Commercial Partners to manage property
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Henrico County-based commercial real estate firm Lingerfelt CommonWealth Partners LLC announced Monday it has sold a $10.35 million office building in Tampa, Florida, to Virginia Beach-based real estate investment company Continental Capital Partners. The two-story, 78,000-square foot Buschwood III office building was 92% leased at the time of the sale to tenants including CoAdvantage, BluePearl
UPDATED: Nearly 110K Virginia businesses received PPP funds
SBA releases data identifying only 16K Va. recipients of forgivable relief loans
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The U.S. Small Business Administration has released a list of major recipients of its $659 billion Paycheck Protection Program small business relief program, with exact loan amounts redacted. Of the nearly 110,000 small businesses that received funding in Virginia (including Virginia Business Media LLC), approximately 16,100 businesses in Virginia were named on the list of