August 2020 Virginia Business & Economic Update

Virginia Business Headlines for Month

• Virginia companies seek paths to reopening amid pandemic
• Alion Science wins $75 million Air Force contract
• Natural gas is key component of Dominion’s carbon-free plan
• Fairfax company lands $54M cybersecurity contract
• Va. hotel revenues dropped by 50% last week
• Veterans Affairs awards Arlington tech company $153M contract
• Atlanta firm acquires Reston telecommunications company
• Autodesk buys Herndon software startup
• Navy awards $87M contract to Herndon company
• GSA awards Fredericksburg company $66M contract
• Va. State Fair canceled for first time since WWII
• InSite Wireless Group acquires Repeater Communications Group
• HealthEdge Software Inc. acquires The Burgess Group LLC
• Va. awards $866K in tourism grants via program promoting safe visiting options amid pandemic
• Manassas electronics manufacturer buys N.Y. company
• Ariz. company acquires Oakton risk management firm
• Calif.-based cybersecurity firm buys Herndon cloud security company
• Leonardo DRS lands $120M Navy contract
• Va. Beach manufacturing company investing $15.8M in expansion
• Perspecta Labs lands $37M defense contract
• Ashburn firm wins Dept. of Homeland Security award
• UPDATED: Nearly 110K Virginia businesses received PPP funds
• Atlantic Coast Pipeline canceled
• What sank the Atlantic Coast Pipeline? It wasn’t just environmentalism.
• Genworth CEO assures investors that China Oceanwide has ways to complete $2.7 billion deal

Virginia Economy, Government & Education Headlines for Month

• Amherst County launches small business relief program
• State launches $70M fund for small businesses, nonprofits
• Va. sees 5K spike in initial jobless claims
• Small Virginia colleges, university foundations sought relief through PPP loans
• Virginia’s largest school insurer says worker’s compensation is unlikely for teachers who catch COVID-19
• State unemployment trust fund is projected to end the year $750 million in the red
• Nearly 40 percent of Virginia’s child care centers closed during the pandemic. It’s a problem for parents going back to work.
• 1M+ Virginians have filed jobless claims since January
• Fairfax adds $20M to small business relief fund
• Va. first state to adopt statewide emergency workplace safety measures
• Amherst County creates small business relief fund
• State deficit stands at $236.5M, down from $1B spring forecast
• Va. is first Southern state to join Regional Greenhouse Gas Initiative
• Northam speeds up Virginia’s clean energy timetable

News Headline Sources: Virginia Business, Virginia Mercury, Richmond BizSense, Richmond.com.