Virginia Business Headlines for April:

Union makes another wealth management play

Racing group buys Colonial Downs for more than $20M, promising to revitalize Virginia horse racing

Appian to move HQ to Tysons, add 600 jobs

ACA International will invest $52M for VA Beach data center

UDig expands headquarters in Henrico

General Dynamics completes $9.7B acquisition of CSRA Inc.

Henrico’s Bold Rock engineering firm acquired by AKF Group

Dominion Energy's Cove Point liquid natural gas facility begins operation

Framatome moves headquarters to Lynchburg from Charlotte

Virginia Econ/Government Headlines for April:

Md. governor open to sharing the Amazon HQ2 wealth with D.C., Virginia

Hampton Roads is America's biggest coal-exporting port and coal exports are booming

VA enters latest battle over uranium mining with filing in U.S. Supreme Court

New GRTC Pulse System Will Bring Round-The-Clock Cameras to More Than 7 Miles of Broad Street

Leaders debate to rebrand the Hampton Roads region

Air cargo: Look at goods moving through VA’s airports

Exporting creates new opportunities for VA businesses

Project to dredge harbor channels vital to VA’s Port

Big changes for motor carriers at port terminals

Construction projects aim to provide a smooth ride through the Old Dominion

Commonwealth announces $1.1M in GO VA grants

Port of VA sees 9 % volume surge in March

Prince William assisted 19 companies in economic development projects in 2017

Caroline supervisors approve rezoning for Airlee industrial development

City seeks more info from Farrell-led Coliseum redevelopment group

Chesterfield ‘megasite’ pitched, scrutinized at meetings

VABeachBio Park construction will begin by fall; 200 challenge submissions received

VIRGINIA BUSINESS AND ECONOMIC UPDATE

MAY 2018

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News Headline Sources: Richmond BizSense, Virginia Business

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Virginia Employment by Region March March Change March

(in thousands, seasonally adjusted) 2017 2018 (P) %

Unemp. Rate

(P)

Total Virginia Nonfarm Workers 3,947.4 3,987.2 1.0% 3.4%

Blacksburg 77.5 77.1 -0.5% 3.4%

Charlottesville 116.2 119.8 3.1% 2.9%

Harrisonburg 67.7 68.6 1.3% 3.3%

Kingsport 121.7 122.6 0.7% 3.8%

Lynchburg 103.5 104.7 1.2% 3.8%

Richmond 666.2 670.3 0.6% 3.5%

Roanoke 159.8 159.9 0.1% 3.4%

Staunton-Waynesboro 49.7 50.3 1.2% 3.1%

Virginia Beach 772.9 773.5 0.1% 3.6%

Washington DC metro 2,663.6 2,696.7 1.2% 3.6%

Winchester 62.7 64.7 3.2% 3.2%

Source: U.S. Bureau of Labor Statistics

(P) Preliminary

Virginia Employment by Sector March March Change

(in thousands, seasonally adjusted) 2017 2018 (P) %

Total Virginia Nonfarm Workers 3,947.4 3,987.2 1.0%

Mining and Logging 8.0 8.2 2.5%

Construction 192.8 202.3 4.9%

Manufacturing 234.1 238.3 1.8%

Trade, Transportation, and Utilities 663.1 664.2 0.2%

Information 68.3 67.4 -1.3%

Financial Activities 204.0 206.0 1.0%

Professional & Business Services 725.2 737.5 1.7%

Education & Health Services 529.1 536.0 1.3%

Leisure & Hospitality 404.7 405.3 0.1%

Other Services 202.2 205.8 1.8%

Government 716.2 716.2 0.0%

Source: U.S. Bureau of Labor Statistics

(P) Preliminary

Regional Economic Snapshot

Virginia Business and Economic Update, May 2018

page 2

Monthly Job Growth From Pre-Recession Peak Employment, Hampton Roads, VA, and US

Growth in Real GDP, VA and US

Labor Force Participation Rate, VA

UNION WEALTH MANAGEMENT | 3900 WESTERRE PKWY, 2ND FL, RICHMOND, VA 23233 | 804-774-2087 | WWW.BANKATUNION.COM/WEALTH

Growth in Real GDP, Hampton Roads and US

Source: Bureau of Labor Statistics and Old Dominion University Economic Forecasting Project. Peak employment for the US was January 2008, VA was April 2008, and Hampton Roads was July 2007. Seasonally adjusted data through December 2017 (US and VA) and November 2017 (HR). Last month of data are preliminary. Data measure number of reported jobs.

Source: Bureau of Economic Analysis and Old Dominion University Economic Forecasting Project. Real GDP measured in chained 2009 dollars. 2017 US is an advanced estimate. 2017 VA and 2018 are ODU forecasts.

Source: Bureau of Economic Analysis and Old Dominion University Economic Forecasting Project. Data on GDP incorporates latest BEA revisions in September 2017. US GDP is advance estimate while Hampton Roads GDP is an ODU estimate

Source: Bureau of Economic Analysis and Old Dominion University Economic Forecasting Project. Seasonally adjusted data.

Labor Force Participation Rate by Locality, 2016

Source: Virginia Employment Commission, Economic Information & Analytics, September 2017.