RICHMOND, Va. - Governor Ralph Northam has announced a new Economic Resilience and Recovery program to aid the Virginia economy during and after COVID-19.
The program will cost $14.66 million.
“The COVID-19 pandemic has had an unprecedented impact on our economy, and we must use every asset we have to assist businesses and communities as we rebuild,” said Governor Northam.
This enterprise was generated through a reorganization of Growth and Opportunity for Virginia (GO Virginia) funding, with the main priority being on focusing on the economic longevity and durability as well as creating higher-paying jobs that will build up and expand regional economies.
Each GO Virginia regional council may apply for no more than $1 million to assist strategic initiatives to counter the economic conditions caused by the COVID-19 pandemic.
“The negative impacts to our economy will be felt for some time, so we must be strategic with how we spend state dollars,” said Secretary of Commerce and Trade Brian Ball.
GO Virginia was founded in 2017 and has awarded around $30 million to 90 different projects and to help aid economic developmental efforts. More information about GO Virginia can be found here.