Virginia approves $3.6 million in Growth and Opportunity grants

Virginia approves $3.6 million in Growth and Opportunity grants

January 4, 2022 0 By Tyler Arnold

Virginia approved more than $3.6 million worth of state-funded Growth and Opportunity grants for 13 projects this week that are designed to promote businesses, Gov. Ralph Northam announced.

“GO Virginia allows us to address the unique needs of localities across the Commonwealth,” Northam said in a statement. “This targeted support is critical, both for local projects and for encouraging long-term regional collaboration. These thirteen projects will foster innovation, support entrepreneurs, and drive economic growth across the Commonwealth.”

The grants are meant to expand workforce development and talent pipelines in specific industries, foster businesses and improve infrastructure, according to a news release. The approved projects include 12 regional projects and one through the GO Virginia’s Economic Resilience and Recovery Program. The grant recipients will receive an additional $4.9 million in funding through local and non-state resources.

“Congratulations to today’s awardees and to their respective regional councils,” GO Virginia Board Chair Nancy Howell Agee said in a statement. “GO Virginia has created a foundation over the past four years that is giving regions the tools to develop high-impact solutions that have helped us tackle the economic setbacks of the COVID-19 pandemic while also focusing on longer term economic development strategies and objectives. These projects are a testament to how thinking creatively and collaborating deeply with localities, private industry, and other stakeholders has proven to be successful, making a difference in the lives of all Virginians.”

A $250,000 Economic Resilience and Recovery Program will go to the Startup Virginia program, which will be used to provide early stage entrepreneurship support. The funding will help the organization provide support through the implementation of technology platforms, more staff and enhancement of incubator services. It will also support two programs designed to help startups in very early stages.

The funding also includes more than $674,000 for the Project Seed innovation hub at midtown square in Cumberland and Prince Edward counties, $600,000 for infrastructure to the Pathway Park in Bland and Smyth counties and nearly $600,000 for Project Eagle+ in Montgomery County and the City of Roanoke.

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