By Shirleen Guerra | The Center Square
(The Center Square) – Virginia is offering executive-level support and agency coordination to companies planning to invest at least $250 million and create 500 new jobs under a new state initiative announced Wednesday by Gov. Glenn Youngkin.
“Virginia is open for business—and we’re raising the bar,” said Youngkin.
Called the Made in Virginia Investment Accelerator, the program promises a concierge-style service to fast-track large-scale business expansions or relocations. It pulls together state permitting, workforce, housing and infrastructure agencies to help companies move quickly — a move Youngkin’s office says will keep Virginia competitive for the nation’s biggest projects.
“The Made in Virginia Investment Accelerator is building the fastest, most responsive economic development engine in America,” said Secretary of Commerce and Trade Juan Pablo Segura in a statement. “If you’re ready to grow, Virginia is ready to go.”
To qualify for the program’s fast-track support, companies must plan significant expansions, such as at least 500 new jobs and $250 million in investment.
The initiative includes coordination from agencies:
-
Virginia Economic Development Partnership
-
Virginia Department of Transportation
-
Port of Virginia
-
Virginia Energy
-
Virginia Department of Environmental Quality
-
Virginia Department of Health
-
Virginia Works
-
Virginia Department of Housing and Community Development
-
Virginia Housing
“The Made in Virginia Investment Accelerator turbocharges the way we compete for transformational projects by aligning our full economic development arsenal — from world-class talent programs to industry expertise—into one seamless, pro-business experience,” said VEDP President and CEO Jason El Koubi. “It’s a bold step forward to ensure Virginia remains the top state for business and innovation.”
According to Youngkin’s office, the state has secured more than $100 billion in investment and 260,000 jobs since he took office. Officials also cite a 70% improvement in permitting speed and a $302 million investment in the Virginia Business Ready Sites Program to prepare land for future growth.
The program is now active for qualifying companies through the governor’s office and the Virginia Economic Development Partnership.
