• E-Newsletter

Northern Virginia’s Economy Grows to $276B

Northern Virginia’s GDP grew by 7.45 percent from 2021 to 2022 – $257 billion to $276 billion. The region’s GDP is larger than 24 states, and if Northern Virginia was a country, it would be the 48th largest economy in the world. While consisting of only three percent of Virginia’s land mass, Northern Virginia’s GDP is nearly 42 percent of the GDP of the Commonwealth of Virginia.

Fairfax County is the driver of Northern Virginia’s economy, accounting for nearly $134 billion of the region’s GDP. To find out more about Fairfax County’s thriving economy and strategic location advantage for your business to grow and thrive, click here.

The Northern Virginia Regional Commission, a consortium of 13 localities in Northern Virginia representing more than 2.5 million residents released the most recent regional data earlier this month. To read more, click here.

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Celebrating a Lasting Legacy of Service in Support of Northern Virginia’s Military, Veteran Community

The Northern Virginia Regional Commission’s Total Military Community Alliance Program honored Mason District Supervisor Penelope “Penny” Gross, Fairfax County Board of Supervisors, for her service as Chair of the Commission’s Community/Military Partnership. Supervisor Gross, a 27-year member of the Fairfax County Board of Supervisors, will officially retire on Dec. 31, 2023.

“We are honored to recognize Supervisor Gross for her dedication and leadership on behalf of our military, veterans and military spouses over the past three decades,” said Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority. “She has made a significant difference for many military families and her initiatives will have a long-lasting positive impact in the Fairfax County and Northern Virginia region.”

View the video below to hear from Supervisor Gross on her work to support those who have served in our community.

Supervisor Gross was first elected to the Fairfax County Board of Supervisors, representing the Mason District, in November 1995, and was re-elected to her 7th term on November 5, 2019. Supervisor Gross currently serves as vice-chair of the Board and chairs the Personnel Committee. To read more about Supervisor Gross, click here.

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Weekly Business News Digest

Bolstering microelectronics supply chains: UK-headquartered BAE Systems, which bases its North America headquarters in the Falls Church area, secured funding from the U.S. Department of Commerce to upgrade its Nashua, New Hampshire-located Microelectronics Center. This $35 million investment marks the first round of funding issued under the CHIPS and Science Act, which aims to bolster domestic microelectronics supply chains, according to ExecutiveGov. “Microelectronics are at the heart of the technology and products we make for our defense and aerospace customers – from next-generation aircraft and satellites to military-grade GPS and secure communications,” said BAE Systems President and CEO Tom Arseneault. He said that the funds will “fulfill the promise of the CHIPS and Science Act” by helping the organization expand its ability to support defense initiatives, cultivate its technical workforce and invigorate the onshore supply chain.

Military and veteran-focused suicide prevention initiatives: A joint venture of Reston-based Peraton and Annandale-based PingWind booked a $155 million U.S. Department of Veterans Affairs contract to aid military and veteran-focused suicide prevention initiatives, reported ExecutiveGov. Under the award, Clear Vantage Point Solutions will provide support for the VA’s National Strategy and for Preventing Suicide and the White House’s Plan for Reducing Military and Veteran Suicide. “As the natural next step for transitioning military and reservists, we cannot underscore how close to home this mission is to our team,” said Tarik Reyes, president of Peraton’s defense mission and health solutions sector. Building on the company’s previous work with the Department of Defense Personnel and Security Research Center, also referred to as PERSEREC, the mentor-protégé joint venture will help VA with outreach targeting historically underserved populations, such as rural and marginalized veteran communities and LGBTQ+ veterans. The company will leverage its longstanding relationship with America’s Warrior Partnership to understand veterans’ challenges and inform the research. “AWP is honored to consider Peraton a comrade-in-arms in the battle to prevent veteran suicide,” said Jim Lorraine, CEO, America’s Warrior Partnership.

New spin on things: Diné Development Corp. (DDC), an Arizona-based provider of IT, professional and environmental services, said it has acquired Falls Church-based Spin Systems (SpinSys), a developer of data management and analytics software. DDC said the move diversifies its client base and expands its capabilities. SpinSys specializes in big data aggregation, virtualization, predictive modeling and AI/ML-driven intelligence visualization. The newly rebranded company will be known as SpinSys-Diné, with major office locations in Falls Church and Charleston, S.C. Potomac Tech Wire carried the story.

Combining capabilities: Finland-based Nokia signed an agreement to acquire Chantilly-based Fenix Group, a privately held company that specializes in tactical 3rd Generation Partnership Project communications solutions for the defense communities, reported Yahoo Finance. Nokia is a global provider of commercial 5G mobile broadband technology and private wireless solutions for ultra-reliable, mission-critical applications. The addition of Fenix’s tactical communications capabilities will allow Nokia to offer a more comprehensive suite of solutions to its defense customers. “We are thrilled to be joining Nokia. Nokia is a global leader in telecommunications technology, and its commitment to defense modernization is unmatched, said Dave Peterson, CEO of Fenix Group. “We believe that by combining our capabilities, we can create even more innovative and effective solutions for our defense customers.”

Robotics clubs: At a hands-on event on December 11 at Fairfax County Public School’s Herndon Middle School on December 11, about 40 students had the chance to make a robot with the help of Google engineers. Google used the event to announce grants to start robotics and AI clubs in Virginia schools, including one at Herndon Middle School, WTOP reported. “We are granting $520,000 to Virginia,” said Google spokeswoman M.J. Henshaw, who added that the funding is part of Google marking its 25th year of business.

New leadership: LeAnn White became the new executive director of the Tysons-based Northern Virginia Black Chamber of Commerce in November, reported Virginia Business. White has more than 20 years of banking sector experience. Since November 2022, White has served on the chamber’s board of directors as chair of the events committee. She’s also a past secretary of the NAACP Fauquier County Chapter. “LeAnn’s proven track record and passion for advocating on behalf of Black-owned businesses make her an invaluable asset to our organization,” NVBCC Chairman Samuel Wiggins said in a statement. “We are excited to see LeAnn as executive director and look forward to the fresh perspectives and initiatives she will bring to NVBCC.”

A whole new reality awaits: Sandbox VR will launch its new virtual reality gaming experience at 1656 Silver Hill Drive in The Boro in Tysons with a grand opening on Dec. 22. This is the first Virginia location for the San Francisco-based startup, which has expanded to over 40 sites across North America, Asia and Europe since introducing itself to the world in 2019.  “We are thrilled to open our very first Virginia location and The Boro — with its robust lineup of entertainment options — is the perfect home,” Sandbox VR founder and CEO Steve Zhao said. “We can’t wait to introduce the McLean community to our world-class VR experiences and give residents and visitors alike the opportunity to experience a whole new reality.” FFXnow has more.

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Contract Wins

CACI (Reston) booked a $420 million contract to provide engineering services for two U.S. Army Combat Capabilities Development Command components. ExecutiveBiz

Serco Group North America  (Herndon) won a three-year, $68 million from the U.S. Navy for developing unmanned surface vessel autonomy. ExecutiveBiz

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