Unmanned Aircraft Manufacturer to Build Plant in Manassas

RapidFlight, a new unmanned aircraft manufacturer backed by venture capital, will establish a base in Manassas, according to a Friday announcement.

RapidFlight’s Chief Executive Officer Dr. Jay Gundlach praised Virginia in the announcement: “Thanks to its central location on the East Coast, we can readily work face-to-face with our government customers while also leveraging Virginia’s Unmanned Systems’ infrastructure to conduct operations and test our systems, rapidly delivering new capabilities to our nation.”

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Youngkin Announces 2022 GO Virginia Grants

Four projects focused on business development and jobs growth won the 2022 Growth and Opportunity for Virginia (GO Virginia) grant awards totaling $1.2 million.

“GO Virginia allows us to invest in key projects that will enhance our economic growth by fostering workforce development and stimulating new business opportunities,” Governor Glenn Youngkin said in a Tuesday announcement. “These projects exemplify the innovative partnerships that GO Virginia grants were designed to promote, driving regional advancement and strengthening our Commonwealth.”

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Youngkin Announces About $27 Million in Loans for Low-Income Housing

Governor Glenn Youngkin announced about $27 million in loans for the 2022 Spring Affordable and Special Needs Housing (ASNH) awardees on Friday. The funds are aimed at 34 projects for both existing and new units for low-income households.

“These projects will provide critical support to our most vulnerable populations, strengthening our economy, and improving the quality of life for countless Virginians,” Youngkin said in a release. “Stable and affordable housing is foundational to building a thriving economy. These projects were carefully selected to ensure they make the most impact on their future residents and the surrounding communities.”

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Virginia Unemployment Rate Had Largest Drop in a Year in June

Virginia’s unemployment had its largest drop in a year in June, down to a 2.8 percent unemployment rate, while labor participation stayed stable 63.8 percent.

Governor Glenn Youngkin highlighted the result in a Friday press release.

“The June unemployment rate dropping to 2.8 percent is promising news for Virginia’s economic health and is a welcome return to pre-pandemic unemployment levels,” Youngkin said. “In such a competitive labor market, we remain committed to expanding workforce development opportunities for Virginians. While the 94,000 job additions is promising, we must remain vigilant regarding the workforce participation rate, which does continue to lag. I am focused on increasing Virginia’s participation rate across the commonwealth.”

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Eleven Virginia Companies Graduate from Training Program for International Markets

The Virginia Leaders in Export Trade (VALET) program announced 11 graduates on Wednesday, the culmination of a two-year program to help Virginia companies launch into international markets.

“The success of Virginia businesses both at home and broad is key to maintaining a strong and resilient economy,” Governor Glenn Youngkin said in a Virginia Economic Development Partnership (VEDP) press release.

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Virginia’s Abandoned Mine Land Reclamation Program to Receive Nearly $22.8 Million in Federal Money

Virginia is receiving almost $22.8 million in federal funds to help reclaim abandoned mine land, according to a Wednesday announcement from Governor Glenn Youngkin. In February, Senators Mark Warner (D-Virginia) and Tim Kaine (D-Virginia) announced that the funding is possible thanks to the Infrastructure Investment and Jobs Act passed in 2021.

“We are excited to get to work and assist in getting others back to work with this announcement of federal funds,” Youngkin said in his release. “Creating jobs in coal-impacted communities is a priority and through the reclamation and repurposing of these mined lands, we hope to see an additional economic activity for properties that can become suitable for development.”

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Education Technology Provider EAB Announces Expansion in Henrico

Governor Glenn Youngkin approved a $741,600 grant to help Henrico County attract an expansion of EAB, an education data insights provider. On Tuesday, Youngkin’s office announced that EAB, which already has locations in the Richmond area, will consolidate to another area location while adding 206 jobs and investing $6 million.

“EAB has been a committed business partner in Virginia for more than 30 years, and we are thrilled to see its continued expansion and investment in Henrico County,” Youngkin said in a press release. “The firm’s success reinforces the importance of attracting and retaining a skilled workforce that is helping fulfill EAB’s mission to improve education and communities across the country.”

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