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JMU student and alumni entrepreneurs get boost from program
Startups Gewd Botanicals, Handicans and Tow Ninja will receive $5k each
The James Madison University Bluestone Seed Fund announced Monday that it would provide three startup companies with $5,000 each in its inaugural investment cycle. The Gilliam Center for Entrepreneurship manages the donor-backed fund. The three chosen startups are Gewd Botanicals, Handicans and Tow Ninja. Malique Middleton, a 2021 graduate, founded Gewd Botanicals, a shop that
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Richmond pharma company Kaléo acquired
Marathon Asset Management to acquire company by end of year
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New York-based Marathon Asset Management LP announced Monday it has entered into a definitive agreement to acquire Richmond-based privately held pharmaceutical company Kaléo Inc., which is known for making injectors to treat allergic anaphylaxis and opioids overdoses. The total base purchase price is approximately $310 million in cash, less certain adjustments and includes potential net
Virginia Council of CEOs expands to Roanoke
First Roanoke roundtable peer group formed, second planned
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The Virginia Council of CEOs, a Richmond-based nonprofit serving small and midsize business owners, has expanded to Roanoke, it announced last week. The organization has launched its first CEO peer roundtable in the Roanoke market and expects to form a second group shortly. About a year ago, the council announced plans to expand statewide. More
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Insurance startup to create 70 jobs with Henrico HQ
Richmond National Group Inc. will spend $175,000 to establish its headquarters
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Startup specialty property and casualty insurance holding company Richmond National Insurance Co. (RNIC) will create about 70 jobs over the next three years as it establishes its headquarters in Henrico County, Gov. Ralph Northam announced Friday. “The commonwealth is always looking to create an environment that supports startups and businesses of all sizes,” Northam said
Peduzzi Associates Ltd. names next president
Retired U.S. Air Force Maj. Gen. Garry Dean will succeed Pete Peduzzi
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Retired U.S. Air Force Maj. Gen. Garry Dean will become the president of Alexandria-based consulting company Peduzzi Associates Ltd. on Friday. Dean has served on the company’s board of advisers for the last four years. He has been an international airline captain for Delta Air Lines since he retired from the Air Force in 2015.
Winchester manufacturer to build $1.25 million plant expansion
Evolve Manufacturing's addition is expected to create 84 jobs
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Winchester-based Evolve Manufacturing will invest $1.25 million to enlarge its plant in Frederick County, creating 84 jobs, Gov. Ralph Northam announced Friday. The company will add a second production line, triple its facility space and increase production for its major customers, including Home Depot, according to a news release. “Evolve … is a key employer
Bridging the gap
Black-owned small businesses seek to overcome pandemic challenges
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At the beginning of 2020, A Family Affair Event Management had already filled its schedule for the year with an array of weddings and corporate, social and destination activities. Then COVID-19 struck, wiping the Stafford event planning company’s calendar clean. “It greatly impacted us,” says Tortica Anderson, owner of A Family Affair Event Management. “We
Northam proposes $353M for small biz, tourism relief
$4.3B in stimulus funds to be allocated during August special session
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Ahead of the General Assembly’s August special session, Gov. Ralph Northam said Monday he wants to spend $353 million of Virginia’s federal relief funding on small business recovery and assisting the tourism industry. Virginia received $4.3 billion in federal funds through the $1.9 trillion American Rescue Plan passed in March. The Democratic-controlled General Assembly will
State program would incentivize new workers with up to $1,000
To ease labor shortage, state will match up to $500 in payments to workers at eligible small businesses
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To combat Virginia’s tight labor market, the state plans to invest $3 million in a program to provide new employees of qualifying small businesses with up to $1,000 to support their transition back into the workforce, Gov. Ralph Northam announced Friday. The Virginia Return to Earn grant program will match up to $500 from eligible
Virginia restaurants face new challenges at brink of full reopening
Widespread worker shortage affects industry
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RICHMOND, Va. — Virginia restaurants will soon be able to host more patrons, but establishments may not be able to accommodate more guests due to a shortage in workers. Restaurants and drinking establishments will be able to seat up to 100 patrons indoors and a maximum of 250 guests outdoors starting May 15, Gov. Ralph