I’m exhilarated knowing Israeli companies contributed $2.3 billion to the Virginia economy in 2024, which is an economic impact for 2024 alone of 9,000 times VIAB’s budget. The independent report, discussed below, is a benchmark for future measurements that will likely increase considerably in years to come. VIAB also had a banner first half of 2025, with more Israeli companies moving to and expanding in the Commonwealth. These successes are reflected in Governor Youngkin’s recent remarks: “Israeli-founded companies are driving innovation, investment, and jobs across the Commonwealth—from defense and life science sectors to agriculture and advanced manufacturing. We will continue strengthening our economic partnership with Israel to create even more opportunities for Virginia."

Our engagement with universities is thriving, highlighted by collaborations with Regent University’s Institute for Israel Studies, led by VIAB Board member Dr. A. J. Nolte. I’m also pleased to lead VIAB’s partnerships with Virginia Tech and to work with 75 students at the University of Virginia, who participate in an internship and consulting program with Israeli companies.

I greatly appreciate the Governor’s support for VIAB’s undertakings in the economic development arenas and his affinity for Israel, which exemplifies the unique connection many Virginians have for Israel that spans across inter-religious, multi-racial, and pan-ethnic communities throughout the Commonwealth.

I also thank VIAB’s board members, who consistently conceptualize and catalyze projects that are economically impactful, socially uplifting, and educationally relevant.

/s/ Dov Hoch
Executive Director
Virginia Israel Advisory Board