The GO Virginia State Board continued its support of projects in four priority investment areas; startup ecosystems, cluster scale-up, workforce development, and site development and infrastructure. These strategies are recognized as essential building blocks for sustaining and accelerating the growth of traded industry clusters, which are interrelated firms who together contribute significantly to Virginia’s total economic output. Firms in supported traded clusters are positioned to compete to serve national and international markets and most importantly, drive wealth-creating employment opportunities for Virginians.

Program Impact Areas

Regional Collaboration

GO Virginia was developed to incentivize and reward regional collaboration that supports the growth and diversification of regional economies and more efficient use of state and local resources. In the spirit of that collaboration, GO Virginia projects require the participation of two or more localities and matching funds from non-state sources. This model has enabled exciting partnerships between local governments, local and regional economic development organizations, and a wide variety of private and public sectors partners. More than 275 unique local co-funders including 175 localities, 48 school divisions and 29 local and regional economic development organizations have participated in funded projects since program inception.

Leveraged Resources

Since the program’s inception to June 30, 2023, GO Virginia has awarded $110.3 million in funding for 263 projects across the Commonwealth. These project awards have leveraged matching funds of more than $125.5 million in additional funding from public and private sources.

High-Impact Outcomes

The GO Virginia State Board has endorsed group of core performance metrics for each of the four key investment categories. These outcomes measures focus on delivering results during and after the two-year grant period that incentivize project sustainability and capacity building to improve regional competitiveness. From the program’s inception to FY23, GO Virginia grantees have reported the following results.

• 22,700 new jobs created;

• 20,000 businesses served;

• 1,010 new businesses created;

• 1,880 new apprenticeship positions created;

• 7,000 newly credentialed workers; and

• 5,7000 acres characterized or advanced a tier according to the criteria established in the Virginia Business Ready Sites program among other outcomes.