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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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In This Issue... Expansions & Relocations, Who's Hot, Who's Winning Business, Deals & Partnerships, Innovations, Partnerships & Collaborations, R&D / Intellectual Property, Trends, Other News, Commentary, Events Click here to forward to a friend or colleague who might like this newsletter. | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Space Adventures Announces $265 Million Global Spaceport in UAR ARLINGTON--Space Adventures, Ltd., the world's leading space tourism company, will invest $265 million to develop a commercial spaceport in Ras Al-Khaimah, one of the seven United Arab Emirates, with plans to expand globally. The spaceport, to be funded by Space Adventures and the government of Ras Al-Khaimah, will be located less than an hour drive from Dubai. Said CEO Eric Anderson: "The close proximity to Dubai, one of the world's leading luxury tourist destinations, makes it a choice location for spaceflight operations." More. In related news... Space Adventures, Ltd., together with a Singapore-based consortium, will develop an integrated spaceport in Singapore that will offer suborbital spaceflights, and operate astronaut training facilities and a public-education and interactive-visitor center. More. MeadWestvaco Moves H.Q. To Richmond RICHMOND-MeadWestvaco Corporation, an $8 billion-a-year, global packaging company, will relocate its corporate headquarters from Stamford, Conn., to Richmond as part of a major overhaul of corporate operations. Plans include consolidating the company's six packaging businesses into two, and establishing a research-focused Packaging Innovation Center in Raleigh, N.C. The company expects the new structure to enhance innovation and collaboration across its entire packaging value chain and streamline operational efficiency. As part of a $200 million cost savings initiative, the company will consolidate corporate support operations in Richmond. The move is expected to create 400 new jobs in the area. Said CEO John A. Luke, Jr.: "Consolidating key business areas of our corporate and shared services operations is a critical element in executing our strategy. It will enable us to better support and lead our businesses, increase cost efficiencies and facilitate collaboration." More. And more. Lees Expands Rockbridge Carpet Plant GLASGOW-Lees Commercial Carpets, a division of Mohawk Industries, Inc., will invest $26.6 million to expand its manufacturing facility in Rockbridge County. The project will create at least 25 new jobs and necessitate retraining for 150 more. The Glasgow facility is a fully integrated plant for yarn manufacturing, dyeing, tufting and finishing carpets. Said Plant Manager Lane Leonard: "This expansion ensures the continued growth of the commercial carpet operation in Glasgow for years to come." More. Unarco to Invest $9 Million in Danville DANVILLE--Unarco Industries, Inc., a manufacturer of plastic and wire shopping carts, will invest approximately $9 million and create 194 new jobs in Danville. The company will hire welders and assemblers for its projected opening in April. More. Competitive Intelligence... When You Need It Information is essential to a successful business. You must know your market and your competitors. A trend emerging today can turn your world upside down tomorrow. You must spot such trends and prepare for the changes they will bring. VA Newswire is offering a new product -- competitive intelligence reporting that will collect data of all types, analyze it and provide written, confidential documents customized to your needs. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Synchrony Closes $5 Million Funding ROANOKE--Synchrony, Inc., a developer of magnetic bearings, power, and control systems, has closed a $5 million, first-round funding by NewVa Capital Partners, LP, and affiliates of Third Security, LLC, all of Radford. Said R.J. Kirk, Third Security's chairman: "We believe that Synchrony possesses a significant technology lead in the field of magnetic bearings and control technologies and is poised to exploit that technology on a worldwide basis. That these high-tech engineering solutions were developed locally demonstrates that this region is capable of producing world class technologies." More. Advance Auto Racks up Record Earnings ROANOKE--Advance Auto Parts, Inc., has reported a 24 percent increase in earnings to $39 million in the 4th quarter of 2005 on a 13.5 percent increase in sales. In the year ahead, the company expects to open 170 to 180 stores, representing square-footage growth in the range of six percent to seven percent, remodel 200 to 225 stores, and relocate approximately 50 stores. More. Fairfax Dominates Virginia Venture Funding FAIRFAX--Forty-five Fairfax County-based information technology companies received $296.94 million in venture capital investments in 2005, according to figures compiled by the Fairfax County Economic Development Authority based on the recently released MoneyTree Survey. That represents a 51.5 percent increase over 2004 - and 85.6 percent of the $351 million invested in Virginia companies during the year. More.
In Brief... VIENNA--Appian, a developer of Business Process Management software, achieved record growth in 2005, posting a 171 percent increase in its BPM software licenses over 2004. More. RESTON--Wireless Matrix Corporation has experienced a 22 percent increase in the number of subscribers over the past calendar year, surpassing the 30,000-subscriber milestone. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||
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V Inks Voice Analysis Deal with Canadian Firm RICHMOND-The Richmond office of Chicago-based V, LLC, distributor of Nemesysco's Layered Voice Analysis software, has signed a 20-year license agreement with British Columbia-based AMS Homecare to apply the technology to the residential and residential-care security markets. Originally adopted for military applications, the LVA software has been adapted for non-military uses. The technology analyzes the frequencies of the sound waves of a human voice and provides an emotional/psychological analysis of the speaker. More. In Brief... VIENNA--Convera Corporation has sold its Excalibur Web Index and Search service to its first commercial customer, HighBeam Research, Inc., of Chicago, which runs an online research engine that fills the gap between free search engines and high-end research services. More. FAIRFAX--Analex Corporation has won a contract potentially worth $7.7 million over five years to provide access-control and anti-terrorism security protection to the U.S. Missile Defense Agency in Huntsville, Ala. More. RESTON-eStara has sold its multi-channel communications solutions to four European local directory services: PagesJaunes, QDQ.com, PaginasAmarillas.es and Solostocks. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deals & Partnerships | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Management Team Buys Out O'Sullivan Films WINCHESTER--O'Sullivan Films Inc., a manufacturer of customized, high-performance polymer films, has emerged as an independent company from the divestiture of he former Engineered Films business unit of Cleveland-based PolyOne Corporation. The new company will be jointly owned by members of the current management team, an investor group formed by Matrix Capital Markets, and PolyOne. The company is North America's leading supplier of single-ply vinyl sheeting to the automotive industry More. Instant Purchases English Testing Company NORFOLK--Instant Technologies, Inc., a manufacturer of rapid testing and diagnostic devices, will acquire Euromed, of London, England, the largest distributor of drug abuse test kits in Europe. The deal will increase Instant's revenue by nearly $10 million annually. Said Jeff Konecke, director of business development: "This acquisition will launch Instant into the European markets as the dominate player, a position we enjoy domestically." More. Command Info Acquires IPv6 Training Company HERNDON-Command Information, a start-up formed to accelerate business migration to the next-generation IPv6 Internet standard, has acquired the Native6 training courseware. According to a recent report from the Department of Commerce, training is an early component of any IPv6 transition, with the total services market estimated to be more than a billion dollars a year. Said CEO Tom Patterson: "The training courseware that [Native6 has] developed is the best in the world of IPv6." More. GE Fanuc Buys Avionics Supplier CHARLOTTESVILLE--GE Fanuc Automation Americas, Inc.,, a developer of factory automation solutions, will purchase the assets of Condor Engineering, of Santa Barbara, Calif. Condor makes test and simulation products, embedded boards and core technology to meet the data communications needs of commercial and military aircraft manufacturers and suppliers. Said GE Fanuc CEO Maryrose Sylvester: "The innovations Condor Engineering has brought to the burgeoning avionics industry are well-recognized as quality solutions, and we plan to build on that reputation to further serve the industry." More. In Brief... MCLEAN--Highland Hospitality Corporation has agreed to acquire the 673-room Renaissance Nashville hotel in Nashville, Tenn., for $77 million, or $114,000 per key. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Lansinoh Introduces New, Improved Breast Pump ALEXANDRIA--Lansinoh Laboratories, a developer of premium breast feeding products, has introduced a double breast pump that addresses many of the drawbacks of other electric pumps on the market. The patented pump allows the mother to control the suction and speed, mimicking a baby's natural sucking pattern, which can enhance milk flow. It also keeps condensation/breastmilk from getting into the tubing and damaging the motor, which increases the life of the pump. More. Genworth Introduces Fixed Indexed Annuity RICHMOND--Genworth Financial, Inc., a major insurance company, has introduced the SecureLiving Classic Indexed Annuity for investors seeking to protect principal while achieving tax-deferred growth. Because the product's indexed interest rate is based on the performance of the S&P 500, it gives people an opportunity for potentially higher rates than other fixed interest alternatives. Said executive Pam Schultz: "There are more than 240 index products on the market today with lots of moving parts and complexity. … We've designed a simpler product.." More. webMethods Introduces Tool for Monitoring Processes FAIRFAX--webMethods, Inc., has unveiled webMethods Access, software that provides enterprises with a framework for the rapid assembly of new processes from existing applications and Web services. The software includes powerful visual assembly tools, a sophisticated user management system, and out-of-the-box collaboration-, community- and document-management features. More. In Brief... RESTON--Software AG, Inc, has introduced the next-generation versions of its Adabas transactional database and Natural development platform, designed to provide customers with a higher return on their IT infrastructure investment. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Partnerships & Collaborations | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Space Adventures Partners with Ansari, Russkies ARLINGTON--Space Adventures, Ltd., the world's leading space tourism company, has contracted with Prodea, a private investment firm, and the Russian space agency to develop a fleet of suborbital spaceflight vehicles for commercial use. Said Anousheh Ansari, co-founder of Prodea: "We partnered with Space Adventures because they have proven that there is a market for space tourism by having been the first company to fly a private citizen to space, and remains today the only company to have actually taken tourists to space." Ansari was the title sponsor of the $10 million Ansari X Prize awarded to Mojave Aerospace Ventures for the development and successful flight of SpaceShipOne. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Wahoos Snag $2.9 Million Biomedical Engineering Grant CHARLOTTESVILLE--The University of Virginia Department of Biomedical Engineering has been awarded $2.9 million over five years from the Coulter Foundation Translational Partners Award. The award will support multiple translational research projects involving biomedical engineering faculty and clinical co-investigators in the School of Medicine. More. UVa Docs Devise Test for Crohn's Disease CHARLOTTESVILLE-Doctors at the University of Virginia Health System have tested in animals a non-invasive technique that uses microbubbles to test for inflammatory bowel disease, also known as Crohn's. The disease affects about 600,000 Americans each year. More. In Brief... RESTON--Mobile Satellite Ventures, developer of the first hybrid cellular-satellite communications network, has won a patent for its technology for frequency sharing between the satellite and terrestrial networks. More. VIENNA--CEL-SCI Corporation has announced positive results from a long-term follow-up study of head & neck cancer patients treated with its drug Multikine in a Phase II clinical trial. More. CHARLOTTESVILLE--Diffusion Pharmaceuticals LLC has commenced animal testing of its lead drug, TSC, which treats trauma, stroke and other conditions characterized by oxygen deprivation at the cellular level. More. BLACKSBURG--Researchers at Virginia Tech are part of consortium of public wheat breeders and scientists that has been awarded $5 million from the U.S. Department of Agriculture to implement breeding technologies that will produce higher quality, disease-resistant wheat. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
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 Virginia retail sales. Retail sales in Virginia advanced at a 6.2 percent year-over-year rate in December 2005, the slowest pace over the last twelve months. Retail sales growth in the state has not fallen below 6.2 percent since September 2003. For the year ending with December 2005, retail sales in Virginia increased slightly faster than the 6.1 percent growth in the United States. For details and forecasts of retail sales across Virginia, as well as a list of Chmura Economics & Analytics (CEA) products and services, click here, or call (804) 649-1107. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Tuckahoe Orthopaedics Buys Advanced MRI RICHMOND--Tuckahoe Orthopaedics, a physicians group specializing in orthopaedic medicine, has purchased a FONAR UPRIGHT MRI after receiving a Certificate of Public Need from the Virginia Department of Health. Positional MRI technology offers the ability to scan the spine in weight-bearing positions showing dynamic effects that may otherwise go unseen. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||
 Another Legislative Impasse? The usual suspects are pushing hard for another tax increase this year, but their position is weaker than it was two years ago. More. |
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Breakthrough Newspapers treated Friday's House transportation plan as a routine story about spending and taxes. It was so much more: House leaders are shifting the debate to land use and privatization. The transportation debate, one would judge from reading the newspapers, is all about money. How many more dollars does Virginia need to raise in taxes or divert from the General Fund to pay for transportation improvements? A billion dollars a year, as Gov. Timothy M. Kaine is asking for? Or a mere $400 million that the House of Delegates is proposing? That's the capital press corps' story, by Gawd, and every last reporter is sticking to it. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
