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Governor Signs EO 49 to Accelerate Transformative Business Investments
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More Than $100 Billion in Capital Commitments from Companies Expanding in Virginia or Moving to Virginia to Build Their Future
Governor Glenn Youngkin joined legislators and members of the business community at the future site of Kalahari Resorts & Conventions in Spotsylvania County to announce the Youngkin administration achieving more than $100 billion in committed capital investments in Virginia, more than the previous two administrations combined. The Governor issued Executive Order 49, Accelerating Strategic Business Growth, Job Creation, and Investment in Virginia, which formalizes and makes permanent the Made in Virginia Investment Accelerator (MVIA) announced in May.
“On day one we declared Virginia ‘open for business’ and with more than $100 billion in capital investments, over 265,000 jobs created and 15,000 high-growth startups, Virginia isn’t just competing to win—Virginia is winning,” said Governor Glenn Youngkin. “Today’s executive order will make permanent the innovative steps we’ve taken to accelerate investment in Virginia and enable collaborative work across government to empower future growth. By delivering $9 billion in tax relief for Virginians and lowering the cost of living, streamlining 80,000 regulations to reduce the cost and time of doing business, and making record investments in critical priorities like education, public safety, transportation and business-ready sites, opportunity is thriving in Virginia.”
The MVIA delivers qualifying investments in the Commonwealth, those over $250 million and creating 250 jobs, robust collaboration of all key state agencies to help investors with permitting, infrastructure, and workforce needs to fast-track transformational investments in the Commonwealth. MVIA is led by the Secretary of Commerce and Trade and the Virginia Economic Development Partnership (VEDP).
Compete to Win’s six key focus areas accelerate support for target industries and new sectors, unleash a talented workforce, accelerate site and infrastructure development, make Virginia more affordable, break down barriers to reduce the cost of doing business, and drive innovation in the growth of small businesses and entrepreneurship.
“This administration is focused on operating at the speed of business, breaking down barriers and red tape, and listening to the business community to create jobs and drive growth. We are setting business investment records because of the Governor’s leadership and his signal to the market that Virginia wants to partner with the business community, wants to innovate with private industry, and wants to support private investment as much as possible,” said Virginia Secretary of Commerce and Trade Juan Pablo Segura.
MVIA partner agencies include VEDP, the Virginia Department of Transportation, the Port of Virginia, Virginia Energy, the Virginia Department of Environmental Quality, the Virginia Department of Health, Virginia Works, the Virginia Department of Housing & Community Development, and Virginia Housing.
MVIA complements the Virginia Talent Accelerator and Workforce Housing Investment Program in providing a full suite of services to relocating or expanding businesses in the Commonwealth.
Contact:
Office of the Governor
Peter Finocchio
Peter.Finocchio@governor.virginia.gov
