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Williamsburg Business News

Finance

Newport News Introduces $50 Million Loan Fund for Businesses

July 9, 2025

News Summary Newport News is launching the Peninsula Cooperative Fund, a $50 million initiative to support small and mid-sized businesses. The fund addresses capital access gaps in underserved communities, offering...

Surry County Approves $5 Million Loan for YMCA Design

July 9, 2025

News Summary Surry County supervisors have authorized a $5 million loan for the design of a new YMCA facility adjacent to the Parks and Recreation Center. Despite opposition from Supervisor...

Williamsburg Transitions to Monthly Water and Sewer Billing

June 22, 2025

News Summary Williamsburg is shifting its water and sewer billing from a quarterly to a monthly system as part of its Fiscal Year 2026 budget. This change, effective immediately, aims...

Newport News Launches $50 Million Initiative for Small Businesses

June 21, 2025

News Summary Newport News announced the Peninsula Cooperative Fund, a $50 million initiative aimed at supporting small to mid-sized businesses facing financial barriers. Unveiled at a press event, the program...

Williamsburg Launches New Emergency Notification System

May 22, 2025

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

May 14, 2025

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

May 13, 2025

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

May 9, 2025

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

May 6, 2025

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

Surry County Approves $5 Million Loan for YMCA Design

July 9, 2025

News Summary Surry County supervisors have authorized a $5 million loan for the design of a new YMCA facility adjacent to the Parks and Recreation Center. Despite opposition from Supervisor...

Newport News Celebrates Legacy Landing Housing Development

July 1, 2025

News Summary Newport News, Virginia, held a ribbon-cutting ceremony for the first phase of the Legacy Landing housing development. This initiative aims to transform the former Ridley Place neighborhood into...

Newport News Leaders Pursue Innovation District for Economic Growth

June 30, 2025

News Summary Business and government leaders on the Virginia Peninsula are collaborating to create an innovation district aimed at harnessing local research assets, such as NASA Langley and Jefferson Lab....

Williamsburg Approves Budget for Greater Sports Center

June 28, 2025

News Summary Williamsburg’s Historic Triangle Recreational Facilities Authority has unanimously approved a $36.1 million budget allocated for the construction of the Greater Williamsburg Sports and Event Center. The budget includes...

Riverside Patriots Colony Breaks Ground on New Senior Care Facility

June 25, 2025

News Summary Riverside Patriots Colony in Williamsburg has initiated the construction of a new 52-bed skilled nursing and long-term care facility. The project, showcasing a commitment to enhanced senior care,...

HII Newport News Shipbuilding Furloughs 471 Employees

June 12, 2025

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

May 22, 2025

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

May 18, 2025

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

May 17, 2025

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....

Real Estate & Properties

Newport News Celebrates Legacy Landing Housing Development

July 1, 2025

News Summary Newport News, Virginia, held a ribbon-cutting ceremony for the first phase of the Legacy Landing housing development. This initiative aims to transform the former Ridley Place neighborhood into...

The Arc of Greater Williamsburg Seeks $1 Million for New Facility

June 26, 2025

News Summary The Arc of Greater Williamsburg is urgently seeking to raise $1 million within four weeks to purchase a property in James City County. This facility will better support...

New Costco Location Approved by Newport News City Council

June 12, 2025

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

May 27, 2025

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

May 17, 2025

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

May 14, 2025

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

May 13, 2025

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

May 3, 2025

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

May 1, 2025

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,...

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