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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In This Issue... Expansions, Relocations & Launches, Who's Winning Business, Who's Not, Who's Winning Business, Deal Makers, Innovations, R&D / Intellectual Property, People, Trends, Other News, Commentary, Employment, 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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BAE Systems to Invest $25 Million in Fairfax Expansion FAIRFAX COUNTY--BAE Systems, a U.K.-based defense and technology services company, will expand operations in Fairfax County, creating an anticipated 700 jobs over the next three years. Investing $25 million, the company will establish an information technology work center to support the its expanding federal IT business. Said Bill Shernit, president of BAE Systems Information Technology: "Virginia has a strong, pro-business climate, an educated workforce, and an excellent communications infrastructure. Northern Virginia provides us close proximity to our major federal customers and provides a very friendly and hospitable environment for our workforce." More and more. Noble Opens $30 Million Suffolk Hotel SUFFOLK--Noble Investment Group, an owner/operator of upscale and premium branded hotels, has opened the Hilton Garden Inn Suffolk and Suffolk Conference Center in Virginia. The $30-million public/private project offers 150 rooms, a location on the Nansemond River, a 35-slip marina, 14,000 square feet of meeting space and other amenities. "This hotel is the cornerstone in our city's renaissance," said Suffolk Mayor Bobby Ralph. "Already, we are beginning to see the benefits as the city is responding quite favorably to how it is positively impacting our downtown area." More. Geeks on Call Expands Western Franchises NORFOLK--Geeks On Call, an independent provider of on-site computer services for homes and businesses, will extend its national footprint by opening more than 50 franchises in California, Arizona and Washington. The expansion follows a nine-month growth spurt in which the company increased the number of franchises to 320 in 25 major U.S. markets. Geeks On Call is the high-tech equivalent of a physician who makes house calls; everything the mobile Geek technicians need to complete their tasks is carried inside their signature blue Chrysler PT Cruisers. More. Home Care Delivered Expands in Mecklenburg RICHMOND--Home Care Delivered, Inc., a Richmond-based home health care products company, will invest $1.1 million in a new business development center in Mecklenburg County. The facility will facilitate the company's national roll-out, extending its reach to health care professionals and caregivers across the country. Winning the project retains 50 positions at the company's Henrico County corporate headquarters and will add an additional 147 new jobs within 30 months at the new facility in Mecklenburg. More. In Brief... HERNDON--SWsoft, a developer of hosting automation and server virtualization software, has launched SWsoft Japan to serve the large and growing Japanese market. More. SPRINGFIELD--Cornet Technology, Inc., a manufacturing and professional services company, has formed a new division called Optim Systems to provide high-quality, end-to-end audio, video and Web conferencing solutions to government and commercial customers. |
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| Back To Top | Who's Winning Business... |
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Genomatix Corporation Closes Series B Financing Round ROANOKE--Genomatix Corporation, a developer of tools for controlling gene expression and modulating protein interactions, has closed a Series B round of financing involving a $500,000 investment by NewVa Capital Partners, LP. The company will use the proceeds to accelerate the roll out and marketing of its proprietary genetic tools. By turning genes "on" and "off" to regulate the production of proteins, scientists can study cell behavior in more detailed and complex ways than ever before. Said Chief Science Officer Thomas Reed: "These tools can help point the way to promising therapeutic candidates while helping to avoid potentially harmful side effects." More and more. PRA International to Offer 6 Million Shares RESTON--PRA International, a leading global clinical research organization, has proposed a public offering of six million shares of common stock, all of which will be sold by existing stockholders of the company. The current trading price of PRA Tuesday was nearly $23.5 per share, implying a value of $140 million for the shares. More. Intellitactics Reports "Break Out" in 2005 RESTON-Spurred by strong demand in the healthcare industry, Intellitactics, Inc., a provider of enterprise security management, has achieved record revenues for the 12th straight quarter. The company's flagship solution, Intellitactics Security Manager, simplifies the management of complex security landscapes, identifies information security incidents and deploys resources to the threats that pose the greatest risks. More. Liberty Tax Grows at Record Pace VIRGINIA BEACH--Liberty Tax Service, the nation's third largest tax preparer, asserts that it is the fastest-growing company in its industry - now or ever. The company prepared over one million tax returns in fiscal 2005, an increase of 200,000, outperforming H&R Block and Jackson Hewitt combined in raw number of returns prepared. In the last 2 years, Liberty Tax has opened over 700 new offices-including 311 so far this year. More. Fitch Assigns 'AA+' Rating to James City County WILLIAMSBURG--Fitch Ratings has assigned an 'AA+' rating to James City County's $39.8 million general obligation school bonds, series 2005. Proceeds will be used to finance construction of a new high school. The 'AA+' rating reflects James City County's steady population and tax base growth led by development of residential retirement communities and burgeoning commercial investment, a strong financial profile, and a moderate debt burden with manageable capital needs. Debt levels are moderate at $2,878 per capita and two percent of property market value. More. |
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| Back To Top | Who's Not... |
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Xybernaut Delisted from Nasdaq FAIRFAX-The securities of Xybernaut Corporation have been delisted from The Nasdaq Stock Market. A hearing by a Nasdaq Listing Qualifications Panel cited the lack of reliable financial data extending back to December 31, 2002; the company's inability to predict when it will be able to provide reliable data; the need to hire new auditors and rebuild senior management, and the scarcity of cash resources for those rebuilding efforts. More. |
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| Back To Top | Who's Winning Business... |
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ObjectVideo to Develop Even Smarter Video Products RESTON--ObjectVideo, a developer of intelligent video products, has won two contracts totaling up to $3.2 million over the next three years from the Homeland Security Advanced Research Project Agency to develop next-generation capabilities for intelligent video surveillance systems. Video monitors and other sensors provide physical security at transportation hubs, borders, ports, harbors, industrial sites and other key locations. However, the explosion of data outstrips the capacity for human operators to monitor them. ObjectVideo will address this problem by enriching intelligent video surveillance systems with the capability to identify suspicious activity and notify the operators. More. NASA Upgrades Test Robot WaveCrest Propulsion DULLES-WaveCrest, a developer of electric propulsion technology, will supply in-wheel, electric motors to National Aeronautics and Space Administration's "Thibodeaux" robot. The four-wheeled autonomous robot, about the size of an All-Terrain Vehicle, will be capable of speeds up to 30 miles per hour. "Thibodeaux" will carry tools and geology samples for astronauts on simulated Moon/Mars missions here on Earth to learn what works and what doesn't work before designing and building a flight-ready assistant. More. ZyLab Sells Solution to Justice Department MCLEAN--ZyLAB, a developer of content management and compliance solutions for paper intensive organizations, sold its ZyIMAGE Enterprise Webserver Suite solution to the Bureau of Justice Assistance in the Department of Justice. The solution will enable theJustice to better manage the thousands of paper and electronic documents it receives related to officers injured or killed in the line of duty and to speed up the claims process. More. In Brief... MCLEAN--BearingPoint, Inc., a business consulting and systems integration firm, has won a five-year contract potentially worth $55.8 million to assist with the execution of the Navy's Strategic Sourcing Program. More. RESTON-MAXIMUS, an IT company serving government customers, has been awarded a $7.9 million contract by the Metropolitan Atlanta Rapid Transit Authority, of Atlanta, to deploy its FASuite system for maintenance and asset management. More. ALEXANDRIA--Flight Explorer, a provider of Internet-based, real-time global flight tracking information, reporting and display products, has signed up Hawaiian Airlines as a customer. More. |
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| Back To Top | Deal Makers |
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VIENNA-Feld Entertainment is partnering with The Walt Disney Company to produce a 23-city tour of "Disney Live! Winnie the Pooh". Under the "Disney Live!" umbrella, Winnie the Pooh debuts nationwide as the first in a series of live touring family stage productions featuring Disney characters and stories. Children and their parents will sing, dance and play along with Pooh and his friends in an interactive family entertainment experience, staged in an elaborate Hundred Acre Wood set using state-of-the-art digital projection. More. Collegiate Funding Enters International Market FREDERICKSBURG--Collegiate Funding Services, Inc., has agreed to purchase International Education Finance Corporation, a Braintree, Mass., marketer of federally guaranteed and private education loans to both U.S. students going abroad and international students coming to the U.S. In 2004, IEFC originated more than $180 million of total loan volume. Said Collegiate Funding CEO J. Barry Morrow: "With the increasing globalization of the economy, and the resulting growth in demand for cross-border education, international education finance is an attractive market niche." More. McDonald Bradley to Acquire Infodata for $7.56 Million HERNDON--McDonald Bradley, Inc., an information technology solutions provider to the government, has agreed to purchase Infodata Systems, Inc., for $7.56 million in cash. Infodata delivers compliance-driven content management solutions to government agencies, the intelligence community, and commercial clients. Once the deal is concluded, Infodata employees will be integrated into various McDonald Bradley operations and lines of business. Said CEO Kenneth Bartee: "This strategic acquisition … allows us to quickly expand the McDonald Bradley presence and our technical proficiency throughout the intelligence community." More. TNS Takes over FusionPoint RESTON--Transaction Network Services, a provider of transaction-oriented applications, has acquired the assets of Technology Solutions (FusionPoint) from TechLAN, Inc. FusionPoint, based in Macon, Ga., is a premier provider of electronic-technology data communications products and services to the convenience store and service station markets. The acquisition will allow TNS to provide enhanced services to the convenience store and petroleum industry. More. Athena Joins Team GoldenEye WARRENTON--Athena Technologies, Inc., a developer of navigation and flight control systems, has joined Northrup Grumman and General Dynamics Robotics as part of "Team GoldenEye". one of three industry teams tasked with developing a prototype Organic Air Vehicle for the U.S. Army's Future Force Unit of Action. The three-phase OAV-II program calls for the development and test of an unmanned aerial vehicle weighing less than 112 pounds that is able to carry reconnaissance, communications and other sensors. More. In Brief... FAIRFAX--The Borenstein Group, a strategic marketing communications and public relations firm, has acquired Market Vision, Inc., of Fairfax, a privately-held defense marketing and public relations contractor. More. VIENNA--Acumen Solutions, Inc., a business and technology consulting firm, has acquired San Francisco-based Opcentric, a global leader in Sales Optimization consulting. More. |
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| Back To Top | Innovations |
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Mountain Lumber Co. Acquires Madison Saw Mill RUCKERSVILLE-Mountain Lumber, a recycler of antique wood from old buildings, has purchased Madison Wood Flooring's 12-acre manufacturing facility. The move, says CEO Willie Drake, "gives us the space we need to run the most efficient flooring line in the business. … We will be able to streamline our entire operation, increase productivity and improve our yield." At the new plant, the company plans to recycle sawdust and wood chips into fuel to power drying kilns and generate electricity. Mountain Lumber rescues antique flooring and timbers--typically Heart Pine, Chestnut and American Oak--from warehouses and other old buildings, and mills them into flooring, beams and architectural details. "We've never cut down a tree to make flooring," says Drake, who founded the company more than 30 years ago. "It just seems natural that a leading reclaimed lumber company should … [develop] a manufacturing process that makes the most out of a very limited natural resource." More. Segovia Launches Satellite IP Service HERNDON--Segovia, Inc., a provider of secure global voice, data, and video broadband satellite services to the U.S. military, has become the first company to offer global pay-as-you-go broadband IP service over its satellite network. Segovia provides customers with a secure, reliable broadband connection that can be quickly deployed virtually anywhere in the world. The new service offers up to 18 Mbps of connectivity from a single, small aperture terminal. Said Executive Vice president Kirby Farrell: "On-demand pricing will dramatically change the way that customers use satellite service, giving them … the huge benefit of paying for only the bandwidth that they use." More. AOL Offers Instant Messaging Service to Game Developers DULLES--America Online, Inc. has rolled out a program that gives online game developers instant the ability to add the 46 million members of the AOL Messaging Network directly into their games, giving players the ability to see when their buddies are online and available to chat or play games. The service also allows players to "ping" their buddies while they are inside games. More. BioPay Unveils Age Verification Feature HERNDON--BioPay, a developer of biometric transaction technology, has introduced an age verification feature as a part of its retail payments solution. The first such offering in the biometric solution landscape, this feature allows convenience stores, grocers, and liquor stores to verify a customer's birth date at enrollment and then automatically approve legal age customers during all future transactions. By "automating" the age verification process at the register, BioPay's service also saves time for consumers and retailers by speeding up the check-out process. More. Honeywell's Spectra Makes Safer Ropes for Navy HOPEWELL--The U.S. Navy has selected Honeywell's mooring lines made of Spectra fiber to help ensure the safety of its crews against line failure, reduce overall line weight and improve the longevity of the ropes. The Navy is procuring the cordage from Whitehill Manufacturing Corp., of Chester, Pa. Spectra fiber, manufactured at Honeywell's Richmond area operations, is, pound for pound, 10 times stronger than steel, yet light enough to float. More. ORBIMAGE Upgrades Commercial Fishing Software DULLES--ORBIMAGE Inc. has released Version 6.0 of its OrbMap software that supports commercial fishing captains worldwide by combining the world's highest quality plankton data from ORBIMAGE's OrbView-2 satellite with other meteorological and oceanographic data. ORBIMAGE processes and transmits the derived information products, in the form of digital maps, to fishing vessels worldwide. With ORBIMAGE's software, fishing captains can better determine where to search for fish, minimizing search time and reducing high vessel operating and fuel costs. More. |
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| Back To Top | R&D / Intellectual Property |
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Senesco Funds Cancer Research at UVa CHARLOTTESVILLE--Senesco Technologies, Inc., is funding an in vitro bladder cancer study at the University of Virginia. Senesco hopes to learn if its technology can kill bladder cancer cells. Bladder cancer affects approximately 60,000 new patients in the U.S. each year. More. |
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| Back To Top | People |
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In Brief...
RICHMOND/CHARLOTTESVILLE--Dominion Digital has announced the departure of Chairman and COO Gary Henry, who will leave his post to enter private practice; as Chairman Emeritus, he will remain in mutually-supportive association with the firm. More. |
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| Back To Top | Trends |
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Chmura Economics & Analytics |
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Auto sales in Virginia fell significantly in March 2005. For the year ending with March 2005, auto sales in Virginia dropped by 10.0 percent, the largest year-over-year decline since March 2003. The six-month moving average for auto sales in the state stood at 36,997 in March, falling from a peak of 41,240 in June 2004. Auto sales are a key indicator of consumer spending and comprise roughly 25 percent of total retail sales for any given period. For details and forecasts of economic conditions across Virginia, as well as a list of Chmura Economics & Analytics (CEA) products and services, click here, or call (804) 649-1107. |
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| Back To Top | Other News |
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Virginia Securitizes Tobacco Settlement Funds RICHMOND-Gov. Mark R. Warner has announced the successful sale of $448.3 million in Tobacco Settlement Asset-Backed Bonds, Series 2005. As a result of this sale, $389.8 million has been deposited into an endowment to fund economic development projects throughout Southside and Southwest Virginia. Said Warner: "Good timing and the way our team structured the deal make Virginia the first state to sell tobacco settlement bonds -- since uncertainties with tobacco court rulings chilled the market - without having to put the state's credit at risk in any way." More. |
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| Back To Top | Commentary |
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"Freedom and Learning" Six legislators protesting a student-sponsored sex education fair--an event that included conservative cultural groups--should ponder the meaning of the GMU motto. More. |
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Sim City Suffolk is emerging as a leading center of Modeling & Simulation expertise. The Warner administration wants to leverage the military and university assets there into a world-class technology cluster. If you want to see the future of economic development in Virginia, you'll find it in Suffolk. Not in the quaint old downtown that once proclaimed itself the peanut capital of the world, but out on the exurban fringe of Hampton Roads, just off Interstate 664 on land that, only a decade ago, consisted mainly of farms and woodland. More. |
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| Back To Top | Employment |
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| Back To Top | Events |
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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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