September 2020 Virginia Business & Economic Update

Virginia Business Headlines for Month

• Rosetta Stone to be acquired by Dallas company for $792M
• Kings Dominion closure brings economic woes
• Va. hotel revenues continue to improve slightly
• Palo Alto Networks to acquire McLean tech firm for $265M
• Rolls-Royce closing Prince George jet parts plant where 280 work
• $17 million hydroponic farm in West Creek springing to life
• Wash.-based telecomm company buys Vienna satellite tech firm
• D.C. private equity firm sells Chantilly tech firm for $827M
• Fairfax defense contractor acquires Dallas aviation company
• T-Mobile invests $30M to relocate customer center to Henrico
• CACI International acquires Mont.-based aerospace company
• Construction continues to struggle during pandemic
• Reston federal contractor acquires Md. IT company
• For first time ever, Kings Dominion will close for entire year
   

Virginia Economy, Government & Education Headlines for Month

• NoVa housing market continues to recover
• Richmond area's hotel occupancy and tax collections down significantly, but tourism 'bright spot' this summer is sporting events
• Pandemic caused $26.1M hole in GRTC’s budget

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