October 2020 VA Business & Economic Updates

Virginia Business Headlines for Month

• AHLA: Va. stands to lose 86K+ hotel jobs without federal support
• Dominion wind farm projected to create 1.1K+ jobs, generate $209M
• TemperPack plans $21M expansion at site near Richmond Raceway
• Hitachi AAB Power Grids expanding in Bland County
• Dominion debuts offshore wind farm
• Va. hotel revenues continue to slip
• Va. restaurants report consumer spending down, costs up
• Even during the COVID-19 economic downturn, some small business owners say they struggle to find workers
• Universal Corp. to acquire dehydrated foods company for $170M
• ASGN Inc. to buy Boston consultancy for up to $72M cash
• Intelsat to acquire Gogo Inc.'s commercial aviation broadband business
• Genworth to move forward on $2.7B acquisition by Chinese company
• ITA International closes deal with Innovative Decisions Inc.

Virginia Economy, Government & Education Headlines for Month

• Fall enrollment down nearly 10% at community colleges
• State to allocate $10M in block grants for COVID-19 recovery
• State rent, mortgage relief program expands to aid landlords 
• Northam announces higher ed refinancing plan
• Central Va. sales, use tax rate to increase Oct. 1
• Northam expands $70M Rebuild VA program
• ‘A massive cost’: Senate committee tables COVID-19 workers’ comp expansion
• ‘The timing isn’t right for it’: Paid quarantine leave dies in Senate committee
• Lawmakers struggle to balance shielding businesses from COVID-19 lawsuits while keeping workers safe from the virus
• Virginia ABC surpasses $1 billion in sales again, up by almost $120M - despite a 19% loss of restaurant sales
• Va. jobless claims during pandemic exceed Great Recession
• Va. reports 8% unemployment rate for July

News Headline Sources: Sources: Virginia Business, Virginia Mercury, Henrico Citizen, Richmond Times Dispatch