Williamsburg Business News
Finance
Williamsburg Launches New Emergency Notification System
News Summary Williamsburg has introduced a new emergency notification system, RAVE Mobile Safety, replacing Everbridge and expected to save the city $30,000 annually. This system enhances communication with residents during...
Sotherly Hotels Reports Strong Q1 Earnings
News Summary Sotherly Hotels Inc. has announced a steady performance for the first quarter, reporting $3.8 million in funds from operations and net income of $2.7 million. With total revenue...
Sotherly Hotels Reports Strong Q1 Performance in 2023
News Summary Sotherly Hotels Inc. has announced a significant increase in profitability and revenue for Q1 2023, reporting funds from operations of $3.8 million and a net income of $2.7...
Williamsburg City Council Approves $103.33 Million Budget
News Summary The Williamsburg City Council has approved a $103.33 million budget for the upcoming fiscal year, reflecting a $9 million cut from the original proposal. The new budget maintains...
Williamsburg City Council Considers Tax Increases
News Summary The Williamsburg City Council is debating tax increases on meals, admissions, and water to balance a $121.5 million budget for FY 2026. Local business owners express concerns that...
Construction
HII Newport News Shipbuilding Furloughs 471 Employees
News Summary HII Newport News Shipbuilding has announced the furlough of 471 employees as part of restructuring efforts aimed at improving efficiency and financial stability. This decision follows a comprehensive...
HRSD Proposes Major Overhaul of Wastewater System
News Summary The Hampton Roads Sanitation District has introduced a significant proposal aimed at overhauling wastewater management for Urbanna and Saluda. The plan involves redirecting wastewater to West Point, with...
Navy Invests $145 Million in Electrical Overhaul at Shipyard
News Summary The Navy has commenced a $145 million electrical overhaul at Puget Sound Naval Shipyard in Bremerton, Washington, preparing for the USS John F. Kennedy aircraft carrier. This upgrade...
U.S. Navy Launches $145 Million Overhaul at Puget Sound Naval Shipyard
News Summary The U.S. Navy has begun a major $145 million electrical system upgrade at the Puget Sound Naval Shipyard to prepare for the USS John F. Kennedy aircraft carrier....
Completion Date Set for York County Dockmaster Building
News Summary The York County Dockmaster Building project is set to be completed by June 15, following a 30-day delay due to adverse weather and supply chain issues. The new...
Huntington Ingalls Industries Reports Strong Q1 Earnings
News Summary Huntington Ingalls Industries Inc. (HII) revealed impressive financial results for the first quarter of 2025, with a net income of $149 million, exceeding Wall Street expectations. Although revenue...
U.S. Navy Contracts for Two Additional Virginia-Class Submarines
News Summary The U.S. Navy has awarded a significant contract to Newport News Shipbuilding to construct two more Virginia-class submarines. This marks a crucial advancement in enhancing the Navy’s fleet...
Newport News Approves Housing Development at Historic Site
News Summary The Newport News City Council has unanimously approved the rezoning of a vacant lot at 350 Yorktown Road for a new housing development featuring 620 units. The project,...
Newport News City Council Approves Parkside at Endview Development
News Summary The Newport News City Council has unanimously approved the Parkside at Endview housing project, set to transform a vacant lot into a community featuring 393 single-family homes, 182...
Real Estate & Properties
New Costco Location Approved by Newport News City Council
News Summary The Newport News City Council has approved a Conditional Use Permit for a new Costco location, set to enhance services and facilities for the local community. Located on...
Williamsburg Sports and Events Center to Boost Sports Tourism
News Summary A new sports complex, the Williamsburg Sports and Events Center, is set to transform sports tourism in Virginia’s Historic Triangle. With state-of-the-art facilities and diverse sports offerings, this...
Major Redevelopment Project for Fort Magruder Hotel Approved
News Summary The James City County Board of Supervisors has unanimously approved a redevelopment plan transforming the Fort Magruder Hotel into a mixed-use community. The project will convert 303 hotel...
Sotherly Hotels Reports Strong Q1 Earnings
News Summary Sotherly Hotels Inc. has announced a steady performance for the first quarter, reporting $3.8 million in funds from operations and net income of $2.7 million. With total revenue...
Sotherly Hotels Reports Strong Q1 Performance in 2023
News Summary Sotherly Hotels Inc. has announced a significant increase in profitability and revenue for Q1 2023, reporting funds from operations of $3.8 million and a net income of $2.7...
New Store Openings at Williamsburg Premium Outlets Amid Fire Incident
News Summary Williamsburg Premium Outlets has announced several new store openings set for May, aimed at enhancing the shopping experience. However, an ongoing underground fire incident has raised concerns in...
Newport News Approves Housing Development at Historic Site
News Summary The Newport News City Council has unanimously approved the rezoning of a vacant lot at 350 Yorktown Road for a new housing development featuring 620 units. The project,...
Plans to Transform Fort Magruder Hotel into Affordable Housing
News Summary Conserve Holdings has proposed an ambitious redevelopment plan for the historic Fort Magruder Hotel in James City County, aiming to convert the hotel into 126 apartments and 32,000...
Redevelopment Plan for Fort Magruder Hotel in James City County
News Summary Conserve Holdings is set to transform the Fort Magruder Hotel and Conference Center into affordable housing and commercial space in James City County. The plan includes the conversion...
Marketing
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