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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, Deals & Partnerships, Innovations, People, Trends, 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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Micron to Create 860 Jobs in Manassas MANASSAS--Micron Technology, Inc., a manufacturer of memory chips used in computers and portable devices, will create 860 jobs as part of an ongoing, $1.2 billion upgrade of its fabrication facilities in Manassas. The company is converting its facilities from 200mm to the new industry standard of 300mm production to produce double data rate (DDR) and DDR 2 memory. Said CEO Steve Appleton: "Micron's decision to locate a 300mm facility in Manassas is a reflection of our belief that the Commonwealth of Virginia provides the right environment for business. Virginia's commitment to pro-business tax policies and an educated workforce are key factors in helping Micron." More. Framatome to Add 130 Nuclear Engineers LYNCHBURG-Framatome ANP, Inc., a subsidiary of French nuclear power giant AREVA, will invest $5 million to expand its facility in Lynchburg. The company will create 130 engineering positions in the rapidly growing field of nuclear energy services. Said Framatome President Tom Christopher: "AREVA has been preparing for revival of nuclear generation in North America for some time. We have the focus and the technology and we are gathering the resources to play a leading role in nuclear power's bright future." More. ADi Motorsports Expands in Halifax County SOUTH BOSTON--ADi Motorsports, a subsidiary of American Detail, Inc., will expand its facility in Halifax County, creating 32 new positions to do the fabrication, detail and top and body repair for race cars. This expansion includes the launch of a new race team in the Grand American Rolex Sports Car Series at Virginia International Raceway (VIR). American Detail moved to VIR after 15 years of servicing the commercial paint, body and graphics needs of its customers in Greensboro, N.C. Said President Hassell Moran: "We are very happy to be a part of what we feel will become a major hotbed for the migration of more race teams." More. ANGLE Launches First U.S. Technology Commercialization Venture VIENNA-London-based ANGLE plc, a venture management and consulting company, has formed a new company, Aberro, Inc. - the first U.S. venture to emerge from ANGLE's technology commercialization process. Unlike most venture capital firms, ANGLE works with scientists and inventors to form companies around their intellectual property. Aberro has developed a breakthrough approach in software testing that solves a number of issues that have plagued the industry for years. More. JIRIS USA Pitches Tent in Springfield SPRINGFIELD--JIRIS USA, a biometrics subsidiary of Seoul, South Korea-based JIRIS Technologies, will launch its expansion into the North American market from the Fairfax County BioAccelerator business incubator. JIRIS USA products enable secure access to facilities and networks through biometric software. Said President Peter Nam: "Our iris authentication technology can address multiple markets in security, healthcare diagnostics as well as homeland defense." More. 
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| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||
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GigaBeam Completes $18.9 Million Financing HERNDON--GigaBeam Corporation has secured an $18.9 million financing through the private placement of Series B convertible preferred stock and warrants to a limited number of institutional investors. GigaBeam WiFiber operates in the 71-76 GHz and 81-86 GHz radio spectrum, which has been authorized for wireless point-to-point commercial use. GigaBeam's WiFiber technology is comparable to terrestrial fiber in terms of speed and reliability but costs less to deploy in metropolitan areas. More. Trust Digital Raises $9 Million MCLEAN--Trust Digital, a developer of enterprise mobile security software solutions, has closed on a $9 million Series B funding. The funding comes on the heels of a contract to provide enterprise security on mobile devices for the internal operations of a major U.S. wireless carrier. Said Joe Catafalmo with investor BCE Capital: "The worldwide adoption of Smartphones has required carriers and enterprises alike to re-think their mobile security strategies. We feel that Trust Digital's offering is the de facto standard in this respect." More. XVionics Closes $3 Million Series B Funding VIENNA-Xvionics, a provider of aviation command-and-control software solutions, has closed a $3 million Series B round of funding to fuel expansion into new markets. The company's flagship product, the XVionics Operational System Management (XV-OMS), is a scalable, real-time decision support system designed specifically to meet the needs of aviation operations around the globe. Said investor Yaron Eitan: "XVionics has a unique and differentiated technology solution and highly profitable business model that will allow it to be a leader in its space." More. | ||||||||||||||||||||||||||||||||
| Back To Top | Who's Not... | |||||||||||||||||||||||||||||||||
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FLYi FiLES for Chapter 11 DULLES--Flyi, Inc., parent of low-fare airline Independence Air, and its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in order to restructure the company's aircraft leases and other obligations. The company anticipates that it has the financial resources to fund its obligations -- including wages and benefits - through the bankruptcy process. Said CEO Kerry Skeen: "Since the launch of Independence Air almost 18 months ago, our employees have helped us achieve a remarkable degree of customer service success and brand recognition while operating in what has been described as the most challenging economic environment in airline industry history [that has] prevented us -- and virtually all U.S. airlines -- from meeting financial goals." More. Star Scientific Profits Hammered by Hurricanes CHESTER--Star Scientific, Inc., a marketer of reduced-toxin tobacco products, reported a net loss of $9.5 million in the 3Q. Management attributed the loss in part to decreased sales in the wake of the Gulf Coast hurricanes. Promotional programs, some of which specifically were intended to counter the impact of the hurricanes, resulted in a $2.0 million charge, which was recognized against per-carton prices. More. | |||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||
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Apptis to Upgrade Air Force Network Infrastructure CHANTILLY--Apptis, Inc., in conjunction with The Centech Group, has won a five-year contract from the U.S. Air Force with a potential value of $100 million. The contract tasks Apptis with reconstructing physical layer network infrastructure to comply with the growing needs of today's Air Force, employing wireless technologies such as infrared, radio frequency, and free-space optics. The F4F upgrades will support voice, video and data connectivity for approximately 45,000 military and civilian personnel in the Pacific region. More. GE Fanuc to Help Nissan Reduce Plant Downtime CHARLOTTESVILLE--GE Fanuc Automation, Inc., has been selected by Nissan North America to apply its Proficy enterprise manufacturing intelligence solution to help Nissan reduce downtime at its automobile assembly plants in Smyrna, Tenn., and Canton, Miss. The Nissan solution, which includes the Downtime, Scrap and Reject Tracking and Reporting capabilities, resulted from a need to identify which processes were causing the most downtime and where the bottlenecks were. More. Avineon Team Wins TIPSS-3 Contract ALEXANDRIA-A team lead by Avineon, Inc., a provider of IT and other technology services, has won five-year, indefinite delivery/indefinite quantity contract worth an estimated $495 million to provide information systems support to the Department of Treasury and all of its bureaus. Avineon's winning team consists of a core of fourteen subcontractors. More. In Brief... MCLEAN--BearingPoint, Inc., a management consulting and systems integration firm, has won a contract potentially valued at $21 million over six years, to lead "purchasing and supply-chain management immersion training" for the Air Force Materiel Command. More. RESTON-Accenture has won a $6.3 million contract to provide information technology services for the Defense Logistics Agency's Product Data Management Initiative, replacing the DLA's existing repository for technical data. More. FAIRFAX--W R Systems, Ltd. has won a contract to perform Independent Validation & Verification services for a Defense Personnel Security Research Center system, that will provide automated database checks on individuals between their regularly scheduled personnel security background reinvestigations. More. | |||||||||||||||||||||||||||||||||
| Back To Top | Deals & Partnerships | |||||||||||||||||||||||||||||||||
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XO Communications Divest Wireline Businesses RESTON--XO Communications, Inc., a provider of integrated telecommunications services to business clients, will sell its national wireline telecom businesses for $700 million in cash. The proceeds, which will be used to pay down long-term debt, is expected to leave XO with more than $300 million in cash. Said CEO Carl Grivner: "The action we take today will create a pure-play fixed broadband wireless provider that combines significant resources with in-depth industry expertise to meet the growing demand for high-bandwidth broadband wireless services." More. AOL Acquires MusicNow from Circuit City DULLES/RICHMOND-America Online, Inc., has acquired the business of a digital subscription company, MusicNow LLC, owned by Circuit City Inc. Chicago-based MusicNow, which Circuit City purchased in 2004, will operate as a stand-alone subsidiary of AOL Premium Services. Said AOL executive Ed Fish: "Combined with leading programming on AOL Music, the easy-to-use features for music browsing, discovering, sharing, and purchasing of MusicNow provides a new level of customization and personalization of online music." More. NET Telcos Acquires Sentraliant RICHMOND--NET Telcos, the Richmond region's only Tier 1 data center, has acquired Sentraliant, also of Richmond, including its 4,000-square-foot data center, plus an additional 12,000-square-foot certified disaster recovery office space. Said Telcos CEO Jake Magarity: "We were rapidly reaching capacity in our data centers and now we can expand our capacity and services without moving. … With the additional space, we'll also be able to offer certified disaster recovery services from the same location." Recent Richmond-area disasters, including hurricanes Isabel and Gastone, have shown the need for companies to route phone and data lines to an off-site location, allowing them to operate in "virtual" mode if its main offices are inaccessible. More. Owens & Minor Purchases iCare Assets RICHMOND--Owens & Minor, national distributor of hospital supplies, has acquired operating assets - primarily consisting of inventory and customer relationships -- of iCare Medical Supply, Inc., a direct-to-consumer, diabetes and respiratory supply company based in Florida. The transaction builds on the strengths of Owen & Minor's Access Diabetic Supply subsidiary, which serves mail-order customers with diabetes testing supplies, primarily blood glucose monitors and test strips. Nearly 21 million people in the United States have diabetes, an increase of 14 percent since 2002. More. SNL Financial Purchases New Jersey Research Firm CHARLOTTESVILLE--SNL Financial LC, a research firm specializing in the financial marketplace, has acquired leading utility research and analysis firm Regulatory Research Associates, Inc., of Jersey City, N.J. RRA produces subscription-based focusing on regulatory and financial trends in the electric and gas utility sectors, and provides expert research and commentary. More. First American Acquires Govolution ARLINGTON-Govolution, Inc., a provider of electronic payment technology to the public sector, has been acquired by Fort Worth, Tex.-based First American Payment Systems, L.P. Industry analysts estimate that more than $9 trillion is collected annually for taxes, tolls, citations, permits and payments for public sector organizations and other regulated industries. Consumer demand is shifting those payments away from paper-based methods, such as cash and check, towards electronic payments. Said First American CEO Neil L. Randel: "We believe that Govolution has the most robust technology available." More. Silver-McCann Expands Raleigh Apartment Holdings RICHMOND-The Silver-McCann Apartment Group, L.P., has acquired two apartment communities in Raleigh, N.C. with a total of 286 units. The acquisition brings the total to three North Carolina apartment communities now owned by the Richmond-based Silver-McCann. Silver-McCann is a joint venture between McCann Realty Partners LLC, a Richmond apartment investment company, and Silver Capital, a Fredericksburg real estate development and investment firm. The principals expect to invest in excess of $100 million over the initial two years of the partnership. More. Apptix Picks Up Mailstreet HERNDON-- Apptix, a provider of managed messaging and collaboration solutions for small and medium-sized businesses, has agreed to purchase DevStreet, Inc., doing business as MailStreet, for $7 million. The acquisition of the Ft. Lauderdale, Fla., company creates what Apptix describes as a "de facto leadership position" in the messaging and collaboration market for small businesses. More. | |||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||
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Velocity Micro PC First to Meet Dolby Master Studio Specs RICHMOND--Velocity Micro, a manufacturer of custom, high-performance PCs, has introduced the world's first PC to meet the stringent criteria of the Dolby Master Studio label. Using Intel's ProMagix MSX chip, the Dolby Master Studio will make a home theater audio experience available to audiophiles, gamers, digital media enthusiasts, and users with home recording studios. Said President Randy Copeland: "We continue to raise the bar for what a computer can do." Said Dolby executive Greg Rodehau: "Consumers are recognizing the PC as a central platform for their digital life. Consequently, they are demanding greater and richer audio features and performance. … Velocity Micro is bringing a new class of product to market and delivering an outstanding audio experience." More. Risk Profile, Risk Profile, Get Yer Personalized Risk Profile Right Here! HERNDON--Focus Diagnostics has unveiled GenomEx, a genetics interpretive service that combines personal risk information (personal history, family history and ethnicity) with mutation/variant test results to generate a personalized risk-assessment report. The first service is for cystic fibrosis. The service is best suited for hospitals and commercial laboratories capable of conducting genetics testing that do not have access to a board-certified clinical molecular geneticist. More. Cavalier Launches Enhanced Productivity Tool for Small Business RICHMOND--Cavalier Telephone, an integrated telecommunications provider serving the Mid-Atlantic region, has launched its "Web Voicemail" option for business customers. The product allows business customers to access their voicemail messages through a secure Internet browser that can be accessed from anywhere without paying for long distance call to check for messages. Said Cavalier executive Andy Lobred: "Web Voicemail is a great example of an application that is generally very expensive to offer customers via a software-based program. Cavalier can now offer this as a network service for a very reasonable monthly fee." More. Terrascale Grid Software Now Does HP McLEAN--Terrascale Technologies, developer of data-serving solutions for enterprise-class cluster and grid applications, has announced the interoperability of its TerraGrid software with select HP hardware. TerraGrid is the "glue" that binds together servers, networks and storage, providing previously unattainable processing performance. More. | |||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||
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AMERIGROUP Hires Lee as CFO VIRGINIA BEACH-AMERIGROUP Corporation, a provider of managed-care programs that announced a plunge in profitability last quarter, has announced that CFO E. Paul Dunn Jr. is stepping down immediately. His duties will be assumed by Sherri E. Lee, CPA, who had served as CFO for seven years previously. Said CEO Jeffrey L. McWaters: "AMERIGROUP has confronted a number of significant challenges in recent months and Paul Dunn has assisted us in addressing those. We thank him for his service and his contributions to our company." More. | |||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
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 Building permit activity in Virginia peaked in August and dropped slightly in September. As of September 2005, the number of building permits issued for single-family homes increased 3.0 percent from a year earlier. Although building permits are near record levels, rising interest rates could serve to cool permit activity. For details on regional economic conditions across Virginia, including Richmond, Northern Virginia, and Hampton Roads, as well as a list of Chmura Economics & Analytics (CEA) products and services, click here, or call (804) 649-1107. BioPay Targeting Hispanics for Biometric Payment Processing HERNDON--BioPay, the leading biometric transaction processor in the country, is targeting retailers who serve the nation's rapidly expanding Hispanic community for its Paycheck Secure product. The Paycheck Secure system allows consumers to enroll at a grocery store, liquor store, convenience store or check cashing location, and then cash their paychecks just by "putting their finger down" to confirm their identity. New immigrants from countries such as El Salvador, Mexico, and Guatemala have fueled an on-going rise in the estimated 9 to 10 percent of Americans households who do not have a checking account. They have found it difficult to cash their paycheck at a bank or a retail store. Because of the certainty of biometric identification, consumers are gravitating towards retailers using this new technology. More. | ||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||
 Mobility and Access: A Report Card Philip Shucet ran a tight ship at VDOT, but his 10 recommendations for transportation reform reflect the tunnel vision of a highway engineer. He still doesn't get the need for fundamental change in human settlement patterns. More. |
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Public Good, Private Rights Many say the Kelo v. New London ruling by the U.S. Supreme Court threatens property rights in Virginia. Legislation to tighten protections for property owners looks likely. When it comes to eminent domain issues, New London, a former whaling port in southeastern Connecticut, might seem an unlikely spot for the entire national legal community to be turned on its head. But it did just that. When the historic small city on the banks of the Thames River tried to jump start its sagging economy with a big private development that would generate millions in tax dollars, it touched off a legal firestorm. Want to know more about eminent domain issues in Virginia? Then you need to attend the Public-Private Partnership Forum, Dec. 16-17 at the Virginia Crossings Resort in Glen Allen, Va. More. | ||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||
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