Virginia Business

Virginia Business is the sole publication in the state that focuses entirely on commercial news within the commonwealth. Established in 1986, this monthly magazine has received numerous awards for its insightful and thorough reporting. Each issue reaches over 75,000 readers, including high-ranking executives and political leaders at both state and local levels.

National, Trade/B2B

English

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#688884

United States

#164421

Law and Government/Law and Government

#395

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RTX subsidiary wins $1.1B Navy contract modification

3 days ago | virginiabusiness.com | Josh Janney

Raytheon, a subsidiary of Arlington County-based Fortune 500 aerospace and defense contractor RTX, has received a $1.1 billion contract modification from the U.S. Navy to manufacture AIM-9X Block II missiles. This is the largest contract awarded for the program, according to RTX, and will increase production to 2,500 missiles per year.
Virginia congress members press for details on Fort Eustis layoffs

3 days ago | virginiabusiness.com | Josh Janney

SUMMARY:A bipartisan group of Virginia congressional lawmakers is demanding transparency on the Army’s plan to move U.S. Army Training and Doctrine Command (TRADOC) headquarters from Fort Eustis, Newport News, to Texas. Officials are concerned about potential mass layoffs at Newport News base. Merger follows a directive from the Secretary of Defense Pete Hegseth to consolidate commands and cut redundant operations.
Old Dominion Job Corps to lay off 130 in Amherst

3 days ago | virginiabusiness.com | Josh Janney

Amherst County-based Old Dominion Job Corps Center will lay off 130 workers by June 30, due to President Donald Trump‘s administration ordering the closures of contractor-run Job Corps centers across the nation. Old Dominion, in compliance with the Worker Adjustment and Retraining Notification (WARN) Act, notified the state Tuesday of plans to lay off the employees due to the closure of the Job Corps site.
RTX subsidiary wins $536M Navy contract

4 days ago | virginiabusiness.com | Josh Janney

The U.S. Navy has awarded Raytheon, a subsidiary of Arlington County-based Fortune 500 aerospace and defense contractor RTX, a $536 million contract for the SPY-6 family of radars. RTX said in a news release Tuesday that the contract is a follow-on to a previously awarded integration and production support contract announced in 2018. The new contract includes upgrading Flight IIA destroyers, part of the Arleigh Burke class of guided-missile destroyers, with the SPY-6(V)4 variant.
Tysons Corner Center unveils plans for $100M redevelopment

4 days ago | virginiabusiness.com | Josh Janney

Major changes are on the horizon for Tysons Corner Center — the largest shopping mall in the Washington, D.C., area. In a May presentation to investors, California-based real estate investment trust Macerich, the owner of the 1.8 million-square-foot mall in Fairfax County, announced plans for a “strategic redevelopment” of the mall to drive net operating income growth.
Office sublease supply shrinks in major NOVA markets

5 days ago | virginiabusiness.com | Josh Janney

SUMMARY:Sublease supply in Northern Virginia‘s major office hubs has declined by nearly 1.5 million square feet since its 2023 peakThe decline reflects broader state trendsCompanies are now reclaiming previously subleased space or opting for cheaper sublease optionsSublease rents may rise as supply shrinksThe sublease supply for Northern Virginia’s top office hubs is shrinking as the market has begun to stabilize after the COVID-19 pandemic, according to a May 22 report from Avison Young.
Warner, Kaine condemn closure of Job Corp centers

5 days ago | virginiabusiness.com | Josh Janney

SUMMARY:Democratic Sens. Mark Warner and Tim Kaine strongly criticized the U.S. Department of Labor‘s decision to shut down contractor-operated Job Corps centers, calling it a harmful move that will eliminate job training for thousands of young people and cut nearly 13,000 jobs. The closure is expected to affect two Virginia centers — Old Dominion and Blue Ridge — which the senators say currently serve 163 students, many of whom are homeless or aging out of foster care.
Kilgore elected Virginia House GOP leader, succeeding Gilbert

5 days ago | virginiabusiness.com | Kate Andrews

On Sunday, Del. C. Todd Gilbert stepped down as Republican minority leader in the Virginia House of Delegates, and House Republicans elected Del. Terry Kilgore to succeed him. If the GOP wins a majority of the House’s 100 seats this fall, Kilgore would become speaker.
CACI wins $638M in intelligence contracts

6 days ago | virginiabusiness.com | Josh Janney

Reston-based Fortune 500 government contractor CACI International announced last week that it was awarded nearly $638 million in intelligence community contracts to support national security. “As a leader in managing complex, specialized requirements for classified customers, we possess unparalleled mission knowledge valuable to the intelligence community,” CACI President and CEO John Mengucci said in a statement.
41 Virginia companies made the 2025 Fortune 1000

6 days ago | virginiabusiness.com | Richard Foster

Forty-one companies headquartered in Virginia made the grade in Fortune magazine’s 71st annual Fortune 1000 list, and 25 Virginia companies are on this year’s elite Fortune 500. Notably this year, Ferguson Enterprises, the Newport News-based plumbing and heating products distributor, debuted on the Fortune 500, ranking No. 146. Following a corporate reorganization last year, Ferguson’s British holding company merged with its U.S. subsidiary based in Newport News.