This is the second update in accordance with the 2022-2024 Biennial Budget (HB 6001 from the 2023 Special Session I), Item 113 T.4.

This document provides an update to ongoing work associated with the potential for a new inland port facility in the Mount Rogers Planning District and related next steps, for which the Commonwealth allocated additional funds in the 2022-2024 budget to pursue further development.

Readers of this update are encouraged to familiarize themselves with the project’s intent by reviewing the initial Inland Port Study (“Inland Port Study: Feasibility Analysis of Locating an Inland Port in the Commonwealth") which was jointly released by the Virginia Economic Development Partnership (VEDP) and Virginia Port Authority (VPA) in January 2023, and the Q4 2023 General Assembly Update by the VPA (“Virginia Inland Port Study: Q4 2023 General Assembly Update.") which was released in December 2023.

This second update:

• Focuses on work accomplished over the most recent past three months, through March 1, 2024.

• Provides information regarding the commercial and operational assumptions for the facility.

• Restates expected progress and milestones that will be achieved in each of the quarterly updates through calendar year 2024.