GO Virginia continues to serve as a powerful engine for regional economic growth and diversification across the Commonwealth. Through its emphasis on collaborative, regionally driven strategies, the program enables localities to work together across jurisdictional lines to address shared economic challenges and capitalize on unique regional assets.

By investing in high-impact projects that support entrepreneurship, workforce development, site readiness, and industry cluster scale up, GO Virginia strengthens the foundation for long-term, sustainable economic growth. These investments have led to the creation of high-wage jobs, expansion of business-ready infrastructure, and development of sector-specific talent pipelines that align with employer demand.

GO Virginia’s model of regional collaboration ensures economic development efforts are not only strategic and data-informed, but also inclusive—bringing together public and private sector partners to drive innovation and resilience. As a result, the program has played a critical role in diversifying regional economies and enhancing Virginia’s competitiveness in national and global markets.

This grant-supported initiative encourages private sector growth and job creation through thoughtful, regionally driven economic development strategies that benefit communities across the Commonwealth. Projects are developed at the regional level, in alignment with regional strategies defined in board-approved Growth and Diversification Plans. Once approved, the plans advance to the State Board for approval or to the Virginia Department of Housing and Community Development for administrative approval.(*1)

In FY25, the Board approved $11.8 million in funding for 37 collaborative economic development projects across the Commonwealth. These initiatives successfully leveraged more than $6.1 million in qualifying non-state investments. The following report provides program background as well as information on the GO Virginia State Board’s activities and actions during the fiscal year ending June 30, 2025.
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(*1) Administrative approval authority is limited to planning grants, pilot projects, or feasibility studies of less than $100K up to an annual regional cap of $250K.