Dulles Airport to Expand Passenger, Cargo Operations + Weekly Business News Digest

(Photo courtesy of Bryant Cox)

Washington Dulles International Airport to Expand Passenger and Cargo Operations

Washington Dulles International Airport officials recently announced major expansion plans for both flying passengers and cargo shipping, 7News reported. The major change for travelers is a new $700 million 14-gate concourse set to open in 2026 that will have a direct link with the underground Aerotrain system. There are also plans to add a fifth runway at Dulles.

Virginia Economic Development Partnership (VEDP) and Dulles International Airport (IAD) hosted a media tour of the airport, providing reporters with a behind-the-scenes look and unprecedented access to film cargo operations, new concourse construction and conduct interviews on the runway. Additional attendees included representatives from Dulles International Airport, the Metropolitan Washington Airports Authority (MWAA), the Washington Airports Task Force, United Airlines, Fairfax County Economic Development Authority, and Loudoun Economic Development.

Washington Dulles International Airport is an emerging air cargo gateway in the Mid-Atlantic region serving a large catchment area along the East Coast, according to MWAA. VEDP is partnering with the Washington Airports Task Force on a consultative study to evaluate cargo market share opportunity for the airport. Currently, Dulles handles more than 300,000 tons of cargo annually and is serviced by 41 airlines providing connections to 57 international and 86 domestic destinations.

“The cargo operation would just expand the capabilities of the airport and really feed the business environment in the region,” Washington Dulles International Airport Manager Richard Golinowski said to Washington Business Journal. “It’d be a huge boon for the DMV to get more cargo into this area, and we really think that long-term, we’re going to have it. We are ready for it.”

The airport connects to all major U.S. markets via the interstate highway system and over 56 percent of the U.S. population resides within a one-day drive. As the primary international airport for the Washington metro area, Dulles serves one of the major economic regions in the United States with a continuously growing number of international airlines. WUSA has more.

Weekly Business News Digest

Apples to apples: Two Fairfax County-based credit unions that have been around since the 1950s have agreed to combine, reported Washington Business Journal. Apple Federal Credit Union, with $4.4 billion in assets, and $532 million-asset NextMark Credit Union recently announced their intent to merge later this year, with Apple FCU being the surviving institution. Terms weren’t disclosed but the merger agreement is expected to close by November, pending approval from regulators and NextMark’s members. The credit unions said the deal would give the combined institution more scale to help it “remain competitive” with both banks and other credit unions, while creating more opportunities for employee professional development, according to a web page dedicated to information about the merger.

Ambitious redevelopment: PREIT is embarking on an ambitious redevelopment of Springfield Town Center that includes transforming a substantial portion of the parking lot into a mixed-use community hub, FFXnow reported. Construction is in progress on a 439-unit residential apartment building, alongside a renovated parking garage and a five-story hotel. PREIT anticipates that the development will be completed and ready for occupancy by early 2026. Since acquiring the mall in 2015, PREIT has been laying the groundwork to develop the remaining 2 million square feet of commercial space and several thousand residential units, approved by Fairfax County in 2008.

Birth of a satellite constellation: Tysons-headquartered Spire Global, Thales, and European Satellite Services Provider (ESSP) have signed a Memorandum of Cooperation with the goal of introducing a range of innovative global satellite-based surveillance services to the air traffic management industry and broader aviation market. These services will be powered by a specialized constellation of over 100 satellites collecting Automatic Dependent Surveillance-Broadcast messages broadcast from aircraft and transmitting the data back to Earth in real time. Spire will develop the space segment, including system design, building the satellites and payloads, ground control and data collection. “The birth of a satellite constellation fully dedicated to serving the demanding needs of air traffic management, air domain awareness and national security is a groundbreaking development for the aviation industry,” said Philip Plantholt, general manager of Aviation at Spire. SpaceNews has more.

Chameleon getting Clarity: Columbia, Md.-based Clarity Innovations, a fast-growing contractor that specializes in data and code development, has merged with Herndon-based Chameleon Consulting Group, according to Washington Business Journal. The combined company will have about 500 employees and take the Clarity name. Chameleon’s management team, including CEO Tim Berzins, will stay on at the combined company and have “significant roles,” Daniels said. Chameleon focuses on cyber operations, software engineering and data analysis and has about 200 employees. The merger gives Clarity an influx of engineers with security clearance that will help the company continue to expand.

Seed round: Tysons-based FairNow, which makes software for AI governance and regulatory compliance, has raised $3.5 million in a seed round, according to a Reg D filing, according to citybiz. Of the amount raised from 17 investors, $2.4 million constituted new capital investment, while $1.1 million was “accounted for by the conversion of certain outstanding convertible securities,” the company said in the filing. “While the potential of AI technology is exciting, the number one factor holding back adoption is business and regulatory risk,” said Guru Sethupathy, CEO of FairNow. “Our platform helps customers understand and mitigate their AI risk, ensuring compliance with rapidly evolving regulations in a centralized and simplified way.”

Tech acquisition: Reston-based Hubble Technology was acquired by Minneapolis cybersecurity firm NetSPI, reported Washington Business Journal. NetSPI, whose clients include leading banks, health care companies, retailers and cloud service providers, said the deal for the 4-year-old Hubble will strengthen its ability to detect cybersecurity threats across an organization’s entire IT infrastructure. Hubble developed a cyber asset attack surface management solution that NetSPI said will be integrated into its platform.

Helping our nation’s Veterans: Reston-based Warriors Ethos helps vets thrive after they leave the service, WJLA reported. Jared Shepard, CEO of Reston-based Hypori, founded Warriors Ethos to help vets find a career path after leaving the military. The nonprofit provides veterans with interviewing skills, resume help, and counseling to prepare veterans for the real world because Shepard said the real world could use veterans. Over the past 12 years, Warriors Ethos has helped thousands of veterans discover their potential without fear. “Everybody always worries when they’re getting out like is the grass greener on the other side of the fence? The secret is, it’s just grass,” Shepard said. “The end of the military is not the end of a stage of your life. It’s a transition.” Click here to read a FCEDA interview with Jared Shepard.

Contract Wins

Leidos (Reston) landed a $738 million contract to deliver enterprise information technology and telecommunications services to the U.S. Air Force. ExecutiveBiz

June 26, 2024 — How Northern Virginia’s Ties to Europe Boost and Sustain the Local Economy and Environment – And What More Can Be Done. Please join the NVRC and Johns Hopkins University’s Foreign Policy Institute for a webinar that will explore the dynamic of economic engagement between the U.S. and Europe and its effects on Virginia and Northern Virginia. Click here to register for this free webinar.