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In This Issue... Expansions, Relocations & Launches, Who's Hot, Who's Not, Who's Winning Business, Deal Makers, Innovations, R&D / Intellectual Property, Trends, Other News, Commentary, Events, Click here to forward to a friend or colleague who might like this newsletter. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Gerdau to Relocate Steel Plant to King George KING GEORGE--Gerdau Ameristeel, a Maryland manufacturer of reinforcing steel, will invest $5 million and create 50 new jobs in King George County with the relocation of a Baltimore manufacturing plant. With a projected capacity of 50,000 tons a year, the facility will serve markets throughout the Mid-Atlantic region. Economic development officials cited a new rail extension into King George Industrial Park and a strong workforce as key factors in the location decision. Gerdau Ameristeel is the fourth largest steel producer in North America. More. Strongwell Expands Composites Operation in Washington County ABINGDON--Strongwell Corporation, the world's largest producer of fiber-reinforced polymer composites, will invest $4 million and create 65 new jobs to expand its Highlands manufacturing facility near Abingdon. The company will begin production of its Quazite polymer concrete products to serve growing demand for polymer concrete boxes which are used to house telecommunications lines and equipment. More. ServiceBench Moves into New Corporate H.Q. FAIRFAX--ServiceBench, Inc., a developer of Web-based service supply chain management applications, has expanded into a new corporate headquarters in Fairfax. The new office, which is 45 percent bigger than the old one, will accommodate current and future employee expansion in response to rising market demand for ServiceBench products, which enable fully integrated, Web-automated service supply chains. More. People Love to Hear a Story Tell them yours! Whether you're expanding, closing a deal or rolling out a new product or service, the most cost-effective way to get out your message is to put your message in a reader-friendly, journalistic-styled narrative. VA Newswire can help you create that narrative and disseminate it widely. Find out more. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners:
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Insmed Completes $35 Million Financing RICHMOND-Institutional investors have committed to provide drug developer Insmed Incorporated $35 million in financing in the form of five-year convertible notes bearing interest at the rate of 5.5 percent a year. Insmed intends to use the net proceeds to fund future development activities for its SomatoKine compound, which it has submitted to the Food and Drug Administration for use in the treatment of Growth Hormone Insensitivity Syndrome. More. CIT Funds Four Companies HERNDON--The first year of operations for the Growth Acceleration Program fund launched by Virginia's Center for Innovative Technology resulted in convertible-debt investments in four of Virginia's most promising high-technology startups. The $100,000 placements in each of the portfolio companies are designed to accelerate the cycle of private capital attraction. More. The companies include: 4Wave, Inc. (Sterling) has used its breakthrough in atomic-layer engineering to develop a four-channel optical filter chip that miniaturizes and reduces the cost of wave-division multiplexing filters used in 10-Gigabit Ethernet. Paxfire, Inc. (Reston) has developed a patent-pending appliance that plugs into the network of any Internet service provider. Once installed, the address bar for all subscribers on that network instantly turns into a search bar-without the need to distribute any software to a consumer's desktop computer. Router Solutions, Inc. (McLean) is pioneering the automated generation of network management technologies. Based on its patent-pending network device interaction capabilities, the company creates applications that detect, diagnose, and address network management problems with little or no human intervention. Verication, LLC (Shenandoah) has developed an analytical tool to eliminate medication errors in pharmacies and hospitals and to detect counterfeit drugs at ports-of-entry and drug regulatory inspection points. In Brief... RESTON--Blue Canopy, a company that aligns business and information technology interdependencies, has closed its 2004 fiscal year with its fourth consecutive year of triple-digit revenue growth, and has more than 100 employees throughout the United States. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
US Airways Obtains Second $125 Million Equity Commitment ARLINGTON--US Airways Group, Inc., has reached an agreement with Republic Airways Holding, Inc., and its majority shareholder, Wexford Capital LLC, on an equity and financing package that includes a $125 million investment upon US Airways' emergence from Chapter 11, plus options for obtaining $110 million of other liquidity enhancements. The proposed $125 million equity investment is contingent on US Airways securing a total of $350 million in new cash. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In Brief... FAIRFAX--SRA International, Inc., has been awarded a competitive task order potentially worth $86.4 million over five years to support the information management system for the Missile Defense Agency. More. FAIRFAX--Anteon International Corporation has been awarded five-year contract potentially worth $47 million to provide support to the Program Executive Office for Integrated Warfare Systems. More. ARLINGTON--RGS Associates, a change-management consulting company, has won a contract potentially worth $26 million over five years to provide IT and change-management services to the Chief of Naval Operations Staff. More. RESTON-MAXIMUS has been awarded a three-year, $20 million contract from the U.S. Department of Health and Human Services to provide appeals of traditional Medicare fee-for-service claim denials. More. RICHMOND--Commonwealth Biotechnologies, Inc., has been awarded new contracts totaling $2 million, including one $1.8 million contract to large amounts of proteins and antibodies related to vaccines against certain select agent pathogens. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wyndham International to Renovate Historic Winchester Hotel WINCHESTER-Dallas-based Wyndham International, Inc., has entered into a long-term franchise agreement with GW Development LLC to flag a historic hotel in Winchester, Va. Scheduled to open by spring 2006, The George Washington-A Wyndham Historic Hotel will join the company's portfolio of Wyndham Historic Hotels following the completion of a multi-million dollar restoration. The hotel will be managed by Winchester-based CB Hotels. Said Wyndham CEO Fred J. Kleisner: "Each of our 10 Wyndham Historic Hotels plays a significant role in their local heritage, and we are proud to help maintain the historic roots of some of our country's most celebrated and colorful landmarks." Restoration of the 90-room George Washington will offer approximately 5,000 square feet of meeting space, wired and wireless high-speed Internet access, an executive boardroom; a meeting room with adjoining pocket garden, and a ballroom that can accommodate groups up to 250 guests. More. Bea Maurer Sold to Behrman Capital for $80 Million FAIRFIELD-Bea Maurer, manufacturer of rapid-deployment tactical shelters for medical, communications and homeland security uses, has been sold to a subsidiary of New York-based Behrman Capital, for $80 million. Said Bea Maurer CEO Vince Nardy: "When we first partnered with Behrman Capital more than a year ago, our principal objectives were to continue to expand our production capacity, develop new products to meet the needs of our military customers and accelerate our growth in the homeland security market. This transaction helps us meet all of those objectives and will play an important role in driving future growth." More. i360technologies Purchases Cantilever Technologies RESTON--i360technologies has agreed to purchase Cantilever Technologies LLC, a West Lafayette, Ind.-based software development and consulting company based near Purdue University. Said i360 CEO Michael Meyer: "Cantilever brings innovative technology which complements i360's Oracle integration services." More. Old Dominion Securities Buys VA Beach Security Firm RICHMOND-Old Dominion Security, a provider of uniformed guard security services in the Richmond and Raleigh, N.C., markets, has acquired Global Security Specialists Inc., of Virginia Beach. Old Dominion has gained market share in recent years by stressing employee development and training, curtailing the turnover endemic in the industry and, thereby, providing better service to clients. Alpha Omega Capital Partners, of Richmond, advised Old Dominion on the transaction. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 How About this for a Conservative Ice Cream Flavor ALEXANDRIA--Star Spangled Ice Cream, the conservative alternative to Ben & Jerry's, goes retail this month in Farm Fresh Supermarkets in Richmond, Hampton Roads and other locations in eastern Virginia and North Carolina. The upstart vendor, which launched in 2003 as an online business, will launch its retail sales with six flavors: Iraqi Road, Navy BattleCHIP, Fightin' Marines Tough Cookies & Cream, G.I. Love Chocolate, Air Force PLANE Vanilla and Smaller GovernMINT. While B&J contributes to left-leaning environmental and pacifist organizations, Star Spangled says it donates 10 percent of its profits to charities that support America's armed forces, including the Freedom Alliance Scholarship Fund for children of soldiers and Marines killed in the line of duty in Iraq and Afghanistan. SSIC is working on plans to expand retail sales nationwide. Said Vice President Richard Lessner: "We believe millions of Americans in the red states will eagerly snap up a delicious conservative alternative to Ben & Jerry's." More. Nextel, MapQuest Launch "Find Me" Service on Mobile Phones RESTON --Nextel Communications, Inc., a national wireless carrier, and MapQuest.com, Inc., a provider of online mapping services, are rolling out location-based services exclusively on Nextel's GPS-enabled phones. MapQuest's "Find Me" service helps users pinpoint their locations on their phones, find nearby locations (e.g. restaurants, hotels, airports, hospitals), and get maps and directions. This new mobile offering blends some of the best technology in digital maps and directions exclusively with Nextel's GPS-enabled digital wireless phones. Pricing is $3.99 for subscribers with existing data service plans, or $5.99 as a stand-alone service. More. Vista Group Unveils Skin Care Line CHESTER--Vista Group Incorporated, a distributor of natural and organic products, has launched a natural skin care line, Rainforest Preserve. The product, manufactured in Costa Rica, utilizes clays unique to the lava fields of Central America. Said Rocio Kemp, director of sales: "Our initial launch features three products with differing natural colors and body uses. Red Volcanic Mask, like its name insinuates, is made of red volcanic clays and is designed for the face. Liquid Lava is made of black lava and is a body scrub. Natural Clay is a mild daily facial exfoliant made from white earth. The company is targeting upscale, well educated consumers concerned about the environment and what comes in contact with their skin. The company espouses a "one world" philosophy that emphasizes protection of the environment. More. AOL Delivers Instant Message to BlackBerry AOL Delivers Instant Message to BlackBerry DULLES-America Online will partner with Ontario-based Research In Motion to support the AOL Instant Messenger and ICQ services on the Blackberry wireless platform. BlackBerry users will have quick and easy access to their AOL Buddy List feature or ICQ contact list to easily see which of their friends and family members are online and available to chat. More. MedVirginia to Launch Health Information Exchange RICHMOND--MedVirginia, a provider-sponsored regional health information organization, will launch a health information exchange that enables improved clinical care and supports healthcare business transactions for providers in the Greater Richmond region. The clinical applications will share all the underlying data exchange provided by the Wellogic Platform for Healthcare. Features include an e-prescribing capability that consolidates medication histories from multiple sources, critical to MedVirginia's goal of reducing adverse drug events. Said Chairman Dr. James Ratliff: "With healthcare as fragmented as it is, a key step to improving patient safety and managing costs is to bring down the walls between provider organizations. Physicians have been hindered by disjointed, cumbersome access to patient information, and MedVirginia is perfectly positioned to address this need through community-wide collaboration." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Langley-Built Instruments Collecting Weather Data HAMPTON--NASA is bringing better weather information to pilots and forecasters with the help of airborne sensors installed on a fleet of commuter airliners. A team led by researchers at NASA's Langley Research Center in Hampton designed, built and equipped dozens of Mesaba Airlines aircraft with the Tropospheric Airborne Meteorological Data Report (TAMDAR) instrument. The TAMDAR sensor allows aircraft flying below 25,000 feet to automatically sense and report atmospheric conditions. More. NTP Licences Technology from Good Technology MCLEAN-NTP, Inc., a privately held company that owns patents covering inventions made by Thomas Campana Jr. and others, has licensed several telecommunications-related patents from California-based Good Technology, Inc., a developer of enterprise wireless handheld computing Software. In connection with the agreement, NTP also has invested in Good. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
 Virginia Beach employment. This chart displays employment growth for the city of Virginia Beach alongside growth in Virginia. Employment growth in Virginia Beach has usually trended close to the rate of growth found in the state. For the year ending with the second quarter of 2004, employment in Virginia Beach grew 3.8 percent compared with 2.6 percent growth in Virginia. Employment trends in regional labor markets are often the best overall measure of economic performance. While statistics relating to output growth, such as real gross domestic (state) product, are considered the most comprehensive performance figures for states and the nation, this data is not available for localities. For the latest analytics on labor market and workforce trends across Virginia, click here, or call (804) 649-1107. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alhurra and Radio Sawa Make Their Mark in Syria SPRINGFIELD-As the government of Syria comes under increasing pressure from the pro-democracy demonstrators in Lebanon and from the international community, it turns out that millions of Syrian citizens are getting their news from U.S.-backed Alhurra television. Springfield-based Alhurra and companion Sawa Radio provide a balanced look at news in the Arabic world. A new ACNielsen survey has found that Alhurra has a weekly viewership of 39 percent of all Syrian adults, with 60 percent saying that the satellite broadcast was reliable. The survey also found that 13 percent of all adults in Syria listened to Radio Sawa on a weekly basis. More. Plastic Paddies Flunk Irish Test ALEXANDRIA-Succumbing to the great American melting pot, only 40 percent of Washington, D.C.-area citizens of Irish descent surveyed by marketing communications firm O'Keeffe & Company, could name the colors of the Irish flag. Thirty percent couldn't spell "potato", while 50 percent could not pick out the fictional name in a list of four Irish counties. Said CEO Stephen W.T. O'Keeffe: "What would St. Patrick think?" On the positive side, 58 percent of respondents successfully picked out the non-Irish beverage in a list of four beers. More. WiderThan Absorbs Ztango Brand RESTON-South Korea-based WiderThan, a global provider of mobile Internet solutions and services, has fully absorbed the Ztango company name under the WiderThan umbrella, following the company's acquisition of Reston.-based Ztango in October 2004. Adoption of a unified global brand is seen as a critical step in the company's growth to a leadership position in the worldwide market for mobile services. WiderThan will continue to support its Americas customers from its U.S. offices in Virginia, New York and Washington. More. Hokies to Track Virginia Livestock BLACKSBURG--Virginia Cooperative Extension is gearing up for a major educational effort to assist with a national animal identification program, which will provide greater protection for human and animal health. The National Animal Identification System ultimately will allow the trace-back and trace-forward capability within 48 hours, using a database to track the animals from birth to market. Said Jim Riddell with the Extension: "What we are looking for is an efficient and straightforward process that enables us to protect our livestock industries and ultimately our food supply." | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 In a Game He Understands By declaring his independent candidacy for governor, Potts has infuriated the flat-earth wing of the GOP. Nothing could help him more. More. | Pavlov's Pols Politicians act as if the only solution to traffic congestion were building expensive roads and rail lines. Perhaps they should stop salivating over higher taxes and read the VTrans2025 report. In one of history's most famous scientific experiments, the Russian scientist Ivan Pavlov rang a bell while presenting a dog with a piece of meat. Over time, conditioned to associate the bell with the meat, the dog began salivating when hearing the bell -- even when there was no meat. Sometimes I wonder if Virginia's legislators are the victims of some Pavlovian experiment gone awry. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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