Governor Glenn Youngkin recently announced more than $2.9 million in Growth and Opportunity for Virginia (GO Virginia) grant awards for eight projects aimed at fostering talent development, economic acceleration and regional industry growth.
Projects will support skill-building initiatives, entrepreneurial endeavors and connecting talent with employment opportunities to enhance the vitality of targeted sectors in Virginia.
As part of the grants, Montgomery County and the Town of Christiansburg will receive $324,000 to help develop a business-ready, 35-acre industrial site in the Falling Branch Corporate Park. The site will be the only Tier 5 site in GO Virginia Region 2 and is designed to support firms in advanced manufacturing, life sciences and biotechnology, as well as logistics.
“These GO Virginia projects exemplify our commitment to fostering economic growth and creating opportunities across various regions,” said Youngkin. “By removing barriers to entrepreneurship, improving industrial sites and increasing the number of Virginia’s shovel-ready sites, we are propelling the growth of targeted industries and clearing pathways for sustainable employment.”
GO Virginia drives regional economic growth and diversification by supporting collaborative projects that utilize workforce development, cluster scaleup, startup ecosystem and site development strategies to grow targeted industry clusters.
“GO Virginia’s dedication to advancing Virginia’s economy in concert with workforce growth continues to produce innovative solutions and foster regional collaboration,” said Secretary of Commerce and Trade Caren Merrick. “These projects demonstrate our dedication to fostering industry sectors and talent pipelines that are vital to driving sustainable progress across the Commonwealth.”
In addition to the awarded GO Virginia funding, the eight awarded projects will leverage an additional $6.1 million in local and non-state funding.
“These GO Virginia projects are a testament to our unwavering commitment in nurturing economic growth and unleashing boundless opportunities across the diverse regions of Virginia,” said GO Virginia State Board Chairman Nancy Howell Agee. “By empowering talent, fostering innovation and cultivating ecosystems, we can pave the way for a prosperous future where Virginia remains at the forefront of industry excellence.”
“These projects will accelerate growth in high-opportunity industries for Virginia, including manufacturing, life sciences and logistics, by using GO Virginia’s holistic approach to cluster-based economic development – talent development, site development, and innovation,” said GO Virginia State Board Vice Chair Todd Stottlemyer. “These projects support Governor Youngkin’s Compete to Win Comprehensive Economic Development Policy and focus resources on industries where Virginia has competitive advantage. These efforts will develop larger pools of qualified workers, prepare sites to meet market demand and create a resource-rich environment for start-ups and early-stage companies.”
Since the program’s inception in 2017, GO Virginia has funded 262 projects and awarded approximately $109 million to support regional economic development efforts.