Please ensure Javascript is enabled for purposes of website accessibilityYoungkin approves $1.2 million in Virginia entrepreneurial ecosystem, workforce grants – DC QUAKE
April 16, 2024

Youngkin approves $1.2 million in Virginia entrepreneurial ecosystem, workforce grants

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Virginia Gov. Glenn Youngkin approved more than $1.2 million for eight regional projects, which are meant to create talent pipelines to support entrepreneurial ecosystems and workforce development.

The $1,261,859 worth of Growth and Opportunity grants are designed to support economic growth by supporting collaborative programs between localities, public entities and private businesses, according to a news release from the governor’s office.

“GO Virginia is fostering a regional collaboration among businesses, education and government leaders while supporting innovative approaches to jumpstart our workforce and economic development,” Youngkin said in a statement. “These projects will equip Virginians with the tools they need to thrive while strengthening workforce training and talent development opportunities across the Commonwealth.”

Secretary of Commerce and Trade Caren Merrick said in a statement the grants are critical for economic development and innovation.

“GO Virginia has proven critical for building Virginia’s economic development strategies and fostering innovation and collaboration,” Merrick said. “We are creating a stronger portfolio of entrepreneurial ecosystems while offering Virginians with the workforce development opportunities they need to diversify unique regional economies throughout the Commonwealth.”

The largest grant is a $315,910 talent strategy implementation project for Region 2, which includes Botetourt, Franklin and Roanoke counties. The funding will help create a regional web-based talent portal and toolkits to help businesses recruit talent. It will help fund an annual retreat for economic and workforce partners and create a talent ambassador volunteer program.

A $308,924 grant in Carroll, Grayson and Wythe counties will help develop career connections labs, which will train students on skills that are applicable to working in the region’s industries. A $300,000 grant for Henrico, Chesterfield and surrounding counties will help fund a Regional Entrepreneurship Initiative, which is meant to improve the entrepreneurial ecosystem.

“As a new board member, I am pleased to see the results of the hard work of all of the GO Virginia regional councils and partners today,” House Speaker Todd Gilbert, R-Shenandoah, said in a statement. “It is exciting to see how these projects plan to deliver the economic impact and growth that these regions are striving for–expanding the pool of job-ready talent to support strategic industry sectors and building a vibrant and supportive environment for high-growth potential startups in the Commonwealth.”

The program launched in 2017 and has spent more than $82 million to fund 215 projects statewide.

This article was originally posted on Youngkin approves $1.2 million in Virginia entrepreneurial ecosystem, workforce grants

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