Governor Glenn Youngkin announced a significant milestone in Virginia’s economic development, revealing that his administration has secured over $100 billion in capital investment commitments. This achievement surpasses the combined total of the previous two administrations. The announcement took place at the future site of Kalahari Resorts & Conventions in Spotsylvania County.
Youngkin issued Executive Order 49, which aims to accelerate strategic business growth, job creation, and investment in Virginia. The order also formalizes the Made in Virginia Investment Accelerator (MVIA), introduced last 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,” stated Governor Youngkin. He emphasized that the executive order will solidify efforts to boost investment and enable collaboration across government sectors for future growth.
The MVIA targets qualifying investments over $250 million that create at least 250 jobs. It facilitates cooperation among state agencies to assist investors with permitting, infrastructure, and workforce needs. The initiative is overseen by the Secretary of Commerce and Trade and the Virginia Economic Development Partnership (VEDP).
“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,” said Juan Pablo Segura, Virginia Secretary of Commerce and Trade.
Partner agencies working with MVIA include VEDP, various departments within transportation, energy, health, housing development sectors, as well as other key state entities. These collaborations are designed to provide comprehensive support for businesses relocating or expanding within Virginia.
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