Governor Glenn Youngkin announced $24.7 million in grants targeted at improving 20 blighted nonresidential properties across Virginia.
The funds will be supplemented by an additional $72.8 million in other funding sources, with 600 jobs expected as a result of the projects. The new round of grants comes as Youngkin places an emphasis on business development and helping blighted regions.
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Governor Glenn Youngkin announced a plan to address Virginia housing shortages, including encouraging local cooperation on zoning, simplifying regulations, and placing housing at the center of economic development plans. He told attendees at the Governor’s Housing Conference that the plan is the result of concerns expressed by individual Virginians and roundtable sessions with developers, local leaders, and advocates.
He said, “What we’ve heard from Virginians over and over again is this sense of frustration. They’re tired of searching far and wide for that ‘For Sale’ sign, only to see that it’s out of their reach. They’re deterred by the cost. Virginians are also seriously worried that ongoing inflation and rising interest rates will make the American dream of owning a home not something they can’t have today, but something they may never have.”
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Governor Glenn Youngkin and Representative Morgan Griffith (R-VA-09) announced eight new projects in southwest Virginia that will be recommended for grant funding from the Virginia Abandoned Mine Land Economic Revitalization (AMLER) program. The projects include an outdoor recreation area, a shooting range, industrial sites, and a housing development.
“These projects selected support our goals of immediate job creation and the development of new business-ready sites that will be the fuel that drives new business investment in these southwest Virginia communities,” Youngkin said in a Friday announcement.
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The International Economic Development Council gave the Virginia Department of Housing and Community Development excellence awards for three of the department’s economic development programs: the Community Business Launch, Industrial Revitalization Fund and Growth and Opportunity for Virginia (GO Virginia).
“Virginia’s IEDC awards are well-deserved recognition for the ongoing and innovative programs that are supporting our economic development efforts across Virginia,” Governor Glenn Youngkin said in a release.
Youngkin’s office regularly highlights grants and other economic development projects across Virginia.
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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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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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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’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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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 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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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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