Nine projects address strategic needs of regions in talent development, infrastructure development, and commercialization that will create higher paying jobs
RICHMOND – Governor Ralph Northam this week announced nine regional projects funded through GO Virginia (Growth and Opportunity for Virginia). Key members of the Governor’s Cabinet, the General Assembly, and the business community approved $2,618,150 in GO Virginia regional per capita grant funds for projects across the Commonwealth. These grants are for projects that each region identified as vital to their efforts to diversify the regional economy, strengthen their workforce, and support collaborative programs between localities, public entities, and private businesses.
One of the grants goes to improve a 20-acre industrial parcel in the New River Valley Commerce Park near New River Valley Airport in order to upgrade the site from a Tier 4 to Tier 5 Business Ready Site Certification through VEDP as part of the Project Hollyleaf effort. The grant is for $150,000.
“GO Virginia’s framework is unique in that it is empowering regional business leaders, local governments, and local educators to work together for the good of Virginia’s economy,” said Governor Northam. “These projects will strengthen our workforce and support our ongoing efforts to create opportunity in every corner of Virginia. GO Virginia will play an important role in developing the next generation of leaders and innovators from across the Commonwealth.”
“GO Virginia’s momentum continues as nine more projects were approved today,” said GO Virginia Board Chairman John O. “Dubby” Wynne. “It is exciting to see more regional collaboration for economic development in nearly every corner of our Commonwealth. With this second round of projects approved, GO Virginia continues to make progress in addressing our state’s economic challenges and in lifting up our communities. We look forward to carrying out this important work to boost Virginia’s economy and create more higher-paying jobs over the next months and years.”
The GO Virginia Per Capita grant funds will be used to implement projects that align with the regions’ Growth and Diversification Plans. These plans provide an honest assessment of the economic, workforce, and structural barriers in the region as well as the existing regional economic drivers and potential growth sectors in each region. Projects that address these challenges and opportunities are the first step toward the creation of higher paying jobs in the regions.
The regional per capita funding is awarded on a rolling basis by the State GO Virginia Board based on the regional application processes. All regions will be eligible for the statewide competitive grants that are expected to be awarded in April of 2018.
Six of the nine GO Virginia Regions submitted applications in this round of per capita funding. The nine projects approved today will leverage $4.3 million in non-state sources to assist with economic diversification throughout the Commonwealth. Local governments have committed $2.6 million toward these nine projects.