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Change in the air
Dominion debuts offshore wind farm
After almost a decade of planning, Dominion Energy Inc. will begin harnessing offshore wind power this fall as two massive test turbines go into operation off the coast of Virginia Beach. Standing about 600 feet tall, the 12-megawatt turbines are the cornerstone of Dominion’s Coastal Virginia Offshore Wind (CVOW) pilot project. The company, the first
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Good deeds
Commercial real estate moves forward in pandemic
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The pandemic hasn’t seemingly slowed down commercial real estate development and transactions in Hampton Roads. Despite significant financial hits to the hospitality industry, the $125 million, 305-room Marriott Virginia Beach Oceanfront opened in June, the second phase of Gold Key | PHR’s three-phase, $350 million renovation and expansion of The Cavalier Resort. Also in June,
A healthy outlook
Region’s hospital systems growing through partnerships
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Even as the COVID-19 pandemic stresses Virginia hospitals, Hampton Roads’ health care sector continues to grow. Richmond-based VCU Health System is making inroads in the region through partnerships with Riverside Health System and Sentara Healthcare. In March, VCU Health System announced a formal affiliation with Newport News-based Riverside. The two organizations have identified areas “of
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On the fast track
Local Fantastic 50 companies have seen big growth
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Six Hampton Roads-based companies, including two newcomers, landed on the Virginia Chamber’s 2020 Fantastic 50 list of the state’s fastest-growing privately owned businesses. Due to the coronavirus pandemic, the winners were recognized during a virtual event held in May. To qualify for the Fantastic 50, nominees’ fiscal revenues had to exceed $200,000 and be less
Chips on the table
Will Norfolk and Portsmouth go all in for casinos?
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On Election Day, Norfolk and Portsmouth voters will decide whether to hold ’em or fold ’em. The two Hampton Roads cities will consider separate Nov. 3 ballot referendums on large casino projects that promise jobs, tax revenue, increased area tourism and funds for school construction. “It’s new for Virginia, for sure,” says Jay Smith, spokesman
Making bank
TowneBank, Langley Federal lead region’s financial institutions
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Suffolk-based TowneBank maintains its dominance among Hampton Roads financial institutions, holding nearly a quarter of the market share. In late June, TowneBank and Children’s Hospital of the King’s Daughters jointly purchased the 22-story Norfolk Southern tower in downtown Norfolk for $30 million. TowneBank’s market share increased slightly from last year, when it had 22.29% of
An overview of Hampton Roads
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Hampton Roads is Virginia’s second most populated region, with nearly 1.8 million residents in 17 localities, including Virginia Beach — the state’s largest city by population with about 450,000 residents. More than 120,000 active-duty and reserve members of the military, as well as civilian personnel, work at nine installations representing five branches. The Port of
By land, sea and air
Drones take center stage during pandemic
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Faced with challenges associated with the COVID-19 pandemic, many Hampton Roads businesses and universities are looking to drones for help. Unmanned flight systems also are likely to drive economic development in the future. In May, when the fear of dwindling personal protective equipment was still fresh, the Herndon-based Center for Innovative Technology (CIT) partnered with
The big dig
Hampton Roads Bridge-Tunnel expansion incorporates new tunnel boring technology
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With construction beginning this fall to expand the Hampton Roads Bridge-Tunnel (HRBT), relief is on the way for travelers weary of sitting in traffic jams along one of south-eastern Virginia’s most congested corridors. The $3.8 billion expansion is the largest project in the history of the Virginia Department of Transportation and one of the largest
Executive Insights
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David C. White Executive vice president, Virginia Maritime Association What do you consider the most pressing issue facing the Hampton Roads region? The maritime industry is in the best position to drive the economic growth and job creation for the region. Capacity at the container terminals has been increased to move an additional 1 million