Major pharmaceutical investments, expanded port capabilities and customized workforce programs strengthen the Commonwealth’s position for business growth.
Virginia is entering a new phase of economic development as major manufacturing investments complement its established strengths in technology, research and global commerce.
For companies considering a new location or expansion, the Commonwealth offers a combination of market access, specialized talent and infrastructure designed to support long-term operations.
Recent developments in pharmaceutical production and maritime logistics demonstrate how Virginia is connecting these assets to attract increasingly sophisticated projects and create opportunities throughout its regional economies.
Pharmaceutical Manufacturing Takes Center Stage
Life sciences has become one of Virginia’s most consequential growth stories. According to the Virginia Economic Development Partnership (VEDP), announcements to establish and expand pharmaceutical manufacturing totaled approximately $13 billion in investment during 2025, including commitments from AstraZeneca, Eli Lilly and Merck.
These projects are strengthening the Commonwealth’s role in domestic medicine production while expanding demand for scientific, engineering and technical expertise.
Eli Lilly’s planned $5 billion manufacturing facility at West Creek Business Park in Goochland County is a leading example. The project is expected to generate 650 high-wage jobs and 1,800 construction jobs, bringing a substantial new pharmaceutical operation to the Greater Richmond region.
Its scale also creates potential opportunities for businesses serving the construction, equipment, maintenance and manufacturing supply chains.
In Albemarle County, AstraZeneca is investing $4.5 billion in two facilities at the Rivanna Futures site near Charlottesville. One will focus on drug substance manufacturing for chronic diseases, while the other will produce antibody-drug conjugates used in cancer therapies.
The facilities are expected to create 600 highly skilled positions, including engineers, scientists and process facilitators.
The project illustrates how site preparation can influence investment decisions. Rivanna Futures previously received a $9.7 million grant through the Virginia Business Ready Sites Program to support infrastructure improvements. That advance investment helped position the property for a major manufacturing opportunity.
Virginia’s broader life sciences foundation includes Virginia Commonwealth University’s Medicines for All Institute and the federally designated Advanced Pharmaceutical Manufacturing Tech Hub in the Richmond–Petersburg region.
Together, these resources support process innovation, workforce development and the transition from research to scalable production.
A Stronger Gateway to Global Trade
Transportation investment is reinforcing Virginia’s appeal to manufacturers and distributors. In June 2026, the Port of Virginia inaugurated its 55-foot-deep harbor and shipping channel, the deepest commercial harbor and channel on the U.S. East Coast.
The dredging initiative also included channel widening that enables two-way movement of ultra-large container vessels.
The improvements form part of the port’s approximately $1.4 billion Gateway Investment Program. Other components include an operational rail expansion providing annual capacity of two million twenty-foot-equivalent units and the conversion of Portsmouth Marine Terminal into a deep-water heavy-lift facility.
Modernization of the North Berth at Norfolk International Terminals is scheduled for completion in mid-2027. Once completed, the project is expected to increase the port’s annual throughput capacity to 5.8 million TEUs and add its fifth ultra-large container vessel berth.
For companies evaluating supply chains, these investments provide a practical advantage: greater capacity to connect Virginia operations with overseas customers and suppliers.
The port’s on-dock, double-stack rail infrastructure adds another option for moving cargo beyond coastal markets.
Workforce Development Supports Execution
Virginia’s investment strategy places considerable emphasis on helping employers build the workforce required to operate new facilities. The Virginia Talent Accelerator Program delivers customized recruitment and training services at no cost to qualified new and expanding companies.
Training is developed around each employer’s equipment, processes, standards and workplace culture.
Manufacturing projects include partnerships with regional community colleges, while participating companies also gain connections to Virginia’s universities and other workforce resources.
Business Facilities named the Talent Accelerator the nation’s top customized workforce training program for four consecutive years, from 2023 through 2026.
For an expanding business, the program’s value lies in connecting hiring and training directly to operational requirements, supporting the transition from an investment announcement to a functioning facility.
Regional Strengths Expand the Opportunity
Virginia’s business proposition extends across multiple industries and locations. Its technology and cybersecurity ecosystem benefits from proximity to federal missions and a pool of experienced, security-cleared professionals.
Its logistics network combines port, rail, road and air connections, giving companies access to nearly half of U.S. consumers within a one-day drive, according to VEDP.
For site selectors, the Commonwealth’s recent momentum highlights the importance of evaluating these assets together.
A prepared industrial property, a tailored workforce program and reliable transportation connections can each influence a project’s success.
Virginia’s ability to coordinate those resources is helping it compete for substantial investments while building the capacity needed to sustain business growth.
