Governor Northam today announced more than $6.7 million in Growth and Opportunity for Virginia (GO Virginia) funding for seven regional projects. Key members of the Governor’s cabinet, the General Assembly, and the business community approved the GO Virginia grant funding for projects across the Commonwealth. These grants are for projects 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.
“GO Virginia continues to promote innovative partnerships between businesses, local governments, and educational institutions to expand and diversify regional economies and help reach our shared economic goals,” said Governor Northam. “These seven projects will build upon the momentum we are seeing throughout the Commonwealth to develop the talent, sites, and new businesses that make Virginia the best place to live, work, and raise a family.”
The GO Virginia grants will be used to implement projects that align with each region’s 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 a key step toward the creation of higher-paying jobs in the regions.
“Through GO Virginia, we are supporting creative opportunities to assist our regions with providing the training and tools needed to diversify and strengthen our economy,” said Secretary of Commerce and Trade Brian Ball. “The programs we are funding will continue to support the regional priorities identified by each region and work towards creating higher-paying jobs in priority areas.”
The regional per capita grants are awarded based on recommendations from the GO Virginia Regional Councils for projects that support regional collaboration and the Growth and Diversification Plans. The competitive grants are also recommended by Regional Councils and then awarded through a statewide competitive process for projects that are multi-regional in scope or represent an extraordinary opportunity to the Commonwealth. The GO Virginia Board is responsible for giving final approval for these grants awarded through the GO Virginia program.
The GO Virginia Board approved seven projects, which will leverage at least $7,216,462 in non-state sources to assist with economic diversification throughout Virginia, including $3,530,281 of local government resources toward the seven projects.