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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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, People, Trends, Other News, Commentary, Events, Click here to forward to a friend or colleague who might like this newsletter. |
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| Back To Top | Expansions, Relocations & Launches  |
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Service Center Metals Invests $28 Million in Prince George PRINCE GEORGE COUNTY-Service Center Metals, an aluminum extrusion plant founded in 2002 by former Reynolds Metals executives, will invest $28 million to expand and upgrade its facility in Prince George County. The project will create 32 new production jobs. The company produces aluminum rods, bars, shapes and tubing, and ships them to metal service centers across the country. Said CEO Scott Kelley: "The Prince George County site was chosen because of the ability to attract experienced aluminum industry talent in the region and Southpoint Business Park's central location..." More. Construction Begins on 700-Mile Fiber-Optic Backbone in Southside DANVILLE-The last remaining hurdle has been cleared to provide an advanced telecommunications infrastructure "backbone" to extend high-speed Internet accessibility to an estimated 700,000 residents and 19,000 businesses in Southside Virginia. The Virginia Department of Transportation and the non-profit Mid-Atlantic Broadband Cooperative have signed an agreement that will allow fiber optic lines to be installed within state right-of-way along limited access roadways. The installation of fiber optic lines on other roadways has already begun in the Farmville to Keysville leg, and the VDOT-Cooperative agreement clears the way for the completion of the rest of the $27 million initiative. More. Dominion Files to Build Power Line in Loudoun RICHMOND--Dominion Virginia Power has filed an application with the State Corporation Commission to build a $30 million, 15.7-mile power line to serve customers in Loudoun County. The 230,000-volt transmission line would ensure electric service reliability in the high-growth Northern Virginia county, which projects its population to increase from about 169,600 in 2000 to about 300,400 in 2010. The line is needed by the summer of 2008 to alleviate potential electrical overloading on existing circuits in western Loudoun County. More. Miller to Invest $6 Million Henry County RIDGEWAY--Ridgeway Furniture Company will invest $6 million to add a curio cabinet division to its Henry County facility, expanding local employment by 25 jobs. Zeeland, Mich.-based Howard Miller, the world's largest manufacturer of grandfather clocks, acquired Ridgeway in 2004. Said CEO Philip D. Miller: "Miller is committed to domestic manufacturing. We selected Virginia because of the quality of the Ridgeway workforce, the availability of highly skilled furniture woodworkers in the area and the tremendous cooperation of both local and state economic development officials in Virginia." More. Cherokee Moves Cigarette Manufacturing to South Boston SOUTH BOSTON-Cherokee Tobacco Company LLC will relocate its cigarette manufacturing operations from Brazil to the Virginia Brands plant in Halifax County. Cherokee Tobacco, the exclusive national distributor of Cherokee cigarettes and tobacco products, also maintains its headquarters and distribution center in Halifax County. Said President C.F. Fuller: "Manufacturing our products in the United States is a key component of our business development plan. We made the decision to move our manufacturing operation from Brazil mainly to improve quality control and inventory." In Brief... RICHMOND--CarMax, Inc., the nation's largest retailer of used cars, officially opened its first store in the Jacksonville, Fla., area. More. MCLEAN-Highland Hospitality Corporation, a lodging real estate investment trust, has acquired the 332-room Tucancun Beach Resort & Villas located in Cancun, Mexico, for $31.0 million. More. |
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| Back To Top | Who's Hot... |
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James River Coal Files for Public Offering RICHMOND--James River Coal Company, a producer of steam- and industrial-grade coal, has filed with the Securities and Exchange Commission relating to the sale of 4.2 million shares of common stock. The company will issue more than 1.4 million shares, which it will use to refinance its current credit facilities and fund the recently announced acquisition of Triad Mining, Inc. The other 2.7 million shares will be offered by two funds associated with Carl Marks Management Company, L.P. More. Approva Secures $15 Million VIENNA--Approva Corporation, a developer of enterprise controls management software, has raised $15 million in a Series C round of venture capital financing. By automating the testing and monitoring of internal controls and business processes, Approva customers reduce the costs of Sarbanes-Oxley compliance, improve the quality of their audits, and enhance their operational efficiencies. Said Tim Guleri, managing director of investor Sierra Ventures: "Approva's approach is breaking new ground, giving financial and business managers unprecedented insight into their business." More. |
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| Back To Top | Who's Not... |
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Court to Confirm Elantic Reorganization Plan RICHMOND-Elantic Telecom, Inc. (ETI), a provider of wholesale fiber bandwidth, will emerge from bankruptcy under a reorganization plan that provides for a 62 percent payout to general unsecured creditors. ETI will continue to operate with the support of Cavalier Telephone, Inc. under the management agreement executed last year when ETI completed the merger with Dominion Telecom, Inc. More. |
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| Back To Top | Who's Winning Business... |
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Arrowhead Spears Homeland Security Warning Network FALLS CHURCH--Arrowhead Global Solutions, Inc., has rolled out the Critical infrastructure Warning Information Network (CWIN) to all 50 states for the Department of Homeland Security. The network provides a survivable line of communications for use when the public networks are unavailable, connecting Homeland Security with the vital sectors that restore infrastructure during emergencies; state homeland security advisors; and appropriate federal agencies. More. In Brief... FAIRFAX--ManTech International Corporation, a provider of mission-critical national security programs for federal agencies, has won a five-year, $23.9 million contract to provide security services to the State Department's Bureau of Information Resource Management. More. |
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| Back To Top | Deal Makers |
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MCI Snags Digital Media Solutions ASHBURN--MCI, Inc., has agreed to purchase the assets of ICF (Interactive Content Factory), a Las Vegas developer of software solutions specializing in IP-based media and entertainment services. Simultaneously, MCI also announced the formation of a new Digital Media Technologies group, dedicated to developing and distributing end-to-end, digital media solutions for content creators, producers and distribution outlets for media, entertainment and gaming organizations. Said Jonathan Crane, executive vice president of strategy and corporate development: "The explosive growth in the digital media marketplace offers tremendous new opportunities for MCI. The acquisition of ICF strengthens MCI's focus on serving our media and entertainment customers by allowing us to provide digital media solutions faster and more efficiently." More. Deltek takes on New Mountain as Strategic Investor HERNDON--Deltek Systems, Inc., a developer of business software applications, has sold 75 percent of its shares to New Mountain Partners II, L.P., of New York. The deLaski family and other shareholders will continue to own 25 percent of the company, which generated $123 million in 2004 revenues on a 23 percent increase in bookings. Said CEO and founder Ken deLaski: "Deltek's management team and long-term shareholder group enthusiastically welcome and embrace this transaction with New Mountain. Unlike some of the other recent transactions in our market, our new investors are all about helping Deltek to grow. We … believe New Mountain's significant capital base will greatly benefit our growth and leadership position in the software industry." More. Alarm.com Partners with Vonage MCLEAN--Alarm.com, a provider of wireless, Web-enabled security system technology, has forged a partnership with Vonage Holdings Corporation, North America's leading broadband telephony company, to address the growing need for Voice-over-IP (VoIP)-compatible security systems. Alarm.com will offer Vonage customers a phone line-independent security system that transmits alarm signals from a customer's home or business wirelessly to a central monitoring station. Monitored security systems which require traditional phone service have prevented some VoIP customers from canceling their traditional phone service and recognizing the full economic benefits of VoIP telephone service. More. SRA Buys Touchstone Consulting FAIRFAX--SRA International, Inc., a provider of IT technology services to the federal government, has agreed to acquire Touchstone Consulting Group, Inc., a management consultancy that helps U.S. government leaders develop, launch, and manage their strategies. Said SRA CEO Renny DiPentima, "Touchstone['s] focus on strategic consulting to the most senior officials in government complements our high-end, full-lifecycle information technology services." More. At Last, Versar Gets a Little Culture SPRINGFIELD--VERSAR, Inc., a professional services company serving government clients, has acquired the Cultural Resources group from Parsons Infrastructure & Technology Group, Inc. Cultural Resources, based in Fairfax, provides archeological, cultural and historical services to federal, state and municipal clients. More. Intersections Bolsters Identity Theft Protection CHANTILLY--Intersections Inc., a provider of consumer identity theft protection and credit management services, has partnered with Identity Risk Management of San Diego, to strengthen its identity fraud protection solutions. Intersections will augment its offerings with ID Analytics' analytical solutions for the detection and prevention of identity fraud, allowing consumers to monitor in real time if their identities may have been compromised. More. True North Acquires Cornerstone's Security Division HERNDON--True North Solutions has completed the acquisition of the IT security division of Cornerstone Solutions, of Fort Wayne, Ind. Cornerstone will serve local customers under the True North name. "With Cornerstone's excellent reputation and presence in the mid-West and our breadth and depth of security services, bringing the two organizations together is a natural." Said Holly Thillet, executive vice president of commercial operations. More. Horne Sold to Spectrum Sciences FALLS CHURCH-Horne Engineering, a professional services company focusing on federal government clients, has agreed to a purchase by Fort Walton Beach, Fla.-based Spectrum Sciences & Software Holdings Corp. for $4.5 million in cash and stock worth roughly $9.6 million. Said CEO Darryl K. Horne: "Horne Engineering's search for a growth partner has been paramount to our strategy. By joining forces with Spectrum Holdings, we will now put in place that mechanism for managed growth - built on Horne Engineering's core values, competencies, strategic alliances, performance culture, commitment to customer satisfaction and Spectrum's strong balance sheet and strategy to be a formidable player in the technical solutions arena." More. Elite Flight: From Air Ambulance to Auto Dealership ROANOKE--Elite Flight Solutions, Inc., operator of air ambulance services in Alaska, has agreed to acquire the assets of Stateline Ford, Inc., a New Jersey Ford and Hyundai dealership. Said CEO Bruce Edwards: "This as an opportunity to continue the restructuring and revitalization of the company through the effective use of our existing equity line of credit with Cornell Capital Partners, LP. This transaction is a positive step in a new direction for the Company." More. In Brief... FAIRFAX--AIMS Worldwide, Inc., a vertically integrated marketing services, communications and media property company, has Harrell Woodcock Linkletter, a strategy, planning and marketing consulting group. More. |
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| Back To Top | Innovations |
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TVWorldwide to Launch Streaming Video Programming CHANTILLY--TV Worldwide, a web-based global TV network, has signed an agreement with Blair Witch creator Dan Myrick of Gearhead Pictures to stream "The Strand," a live-action narrative intended specifically for the web. The series' streaming "webisodes" will provide an uncensored look at the lives of several off-beat characters that inhabit the unique world of Venice Beach, Calif. Said TV Worldwide CEO Dave Gardy: "Not only do we believe that his 'webisodic' approach in delivering 'The Strand' is a veritable 'asteroid' aimed at the planet of conventional content distribution, the show itself is so compelling that it will stimulate a viral buzz on the Internet and establish a new benchmark for interactive participation. Once again, content is king." See film clip here. TotalVid Extends Product Line to Home Improvement, Martial Arts NORFOLK--TotalVid, a video download store for action sports, anime, and travel enthusiasts, has launched two new content categories: martial arts and home improvement. Customers can select from a large stock of how-to videos for as low as $1.99 for seven-day viewing privileges. If they want to buy the DVD version to keep, TotalVid credits the cost of the download. Said General Manager Karl Quist: "Since TotalVid launched in 2004, we have strived for two things - meet the needs of our customers who crave quality content, and to grow our library to satisfy more and more types of fans." Total Vid is a subsidiary of media conglomerate Landmark Communications. More. Trilegiant Unveils New Loyalty Incentive RICHMOND--Trilegiant Loyalty Solutions has introduced an incentive program, Rewards Cash Plus, that allows businesses to reward customers with savings toward the purchase of travel, entertainment and personal items. TLS' clients provide membership cards to customers, allowing them access to Rewards Cash Plus accounts. After using the Rewards Cash Plus dollars, the customer can use a major credit card to pay any remaining balance. More. Do I Still Get Pretzels on the Flight? DULLES--Low-fare airline Independence Air has introduced super-discount fares in and out of Washington Dulles International Airport between April 25th through August 31st. One-way fares run as low as $29 to destinations like Raleigh-Durham and several Florida locations, and $69 to Seattle and Los Angeles. More. In Brief... SPRINGFIELD--Video Convergence has added a frame-capture capability for its iVDO Streamer 2/4 Encoders that create still photos from a video stream and send the images directly to any authorized website. More. |
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| Back To Top | R&D / Intellectual Property |
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When Cleanliness Can Be Hazardous to Your Health BLACKSBURG--Researchers at Virginia Tech have discovered that the use of antimicrobial soaps and other products may unnecessarily expose consumers to chloroform. Peter Vikesland, assistant professor in civil and environmental engineering, has shown that when the chemical triclosan, present in many antimicrobial soaps, reacts with chlorine in tap water, chloroform is produced. The Environmental Protection Agency classifies chloroform as a probable human carcinogen. More. |
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| Back To Top | People |
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Handy Hands off Key Jobs to Stelzner, Redding ASHBURN--H.C. Handy & Sons, a general contracting firm serving the commercial market, has appointed Mark A. Stelzner as CFO and Patricia A. Redding as chief marketing officer. The creation of these new roles, the firm noted, will "facilitate strategic planning for company expansion". More. In Brief... SALEM-Medeco High Security Locks, a developer of security locks and locking systems, has appointed Tom Kaika as president. |
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| Back To Top | Trends |
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Chmura Economics & Analytics |
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Entrepreneurial activities are an important measure of health for a state, local, or regional economy. The chart above displays the number of professional, scientific, and technical services firms with 10 or fewer employees that entered or exited the Northern Virginia economy from 1991 through 2003. While the number of new firms entering the Northern Virginia economy consistently outpaced the number of exiting firms throughout the 1990's, the gap has closed over recent years. In 2003, 2,098 new small firms involved in professional, scientific, or technical services opened in Northern Virginia while 2,078 exited For the latest analytics on labor market and workforce trends across Virginia, click here, or call (804) 649-1107. |
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| Back To Top | Other News |
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TrafficLand Adds 54 Live Camera Views FAIRFAX--The TrafficLand Company has added 54 live traffic camera views around Washington, D.C., bringing the total across the region to 415. Said President Larry Nelson: "The 54 new traffic camera views dramatically improves the ability of TrafficLand.com users to see conditions for themselves and gain 'big picture' understanding of traffic volumes on DC roads, which helps them make more informed judgments about travel routes and departure times." More. Nextel Expands Wireless Coverage Downstate RESTON-Nextel Communications Inc. has expanded its wireless network to bring Nextel's popular four-in-one wireless services-including walkie-talkie and wireless data--to several new areas in downstate Virginia. The new territories cover 10 rural counties on the periphery of the Richmond metro area. More. |
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| Back To Top | Commentary |
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Technology's Long Wave Robert Atkinson's discussion of technology-powered growth highlights the policy choices ahead for Virginia. More. |
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Yearning for Larger Times A communique from Alan Diamonstein reminds us of the great issues that Virginians once grappled with. If the tone and tenor of the statewide campaigns underway already leave you yearning for larger times, you're not by yourself. I have been pulling together from contributors around Virginia the makings of a book of essays and political commentary that will be published later this year. More. |
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| Back To Top | Events |
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Hosting an event? Post the details in our weekly events listing. Click here for our listing guidelines. |
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VA Newswire is a free, email-based weekly newsletter that covers news and events from around the state. If you have any news, events, job openings, or office space availability that you would like to include in next week's newswire, email jim@vanewswire.com. Click here for a free subscription. Click here to unsubscribe. |
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