Miles SmithVirginia has launched a business accelerator to help it compete for high-profile investment projects.
The Made in Virginia Investment Accelerator (MVIA) is intended to coordinate state agencies for an efficient and expedited client journey by delivering concierge-style service and whole-of-government coordination to help qualifying companies move quickly with their relocation or growth, the state said.
A unified approach among state agencies will address investor needs promptly, leveraging unique access to Virginia’s cabinet officials and agency leaders to fast-track opportunities, according to officials.
Participants in the program will have direct access to shovel-ready sites, infrastructure, permitting pathways and customized incentive tools. Localities and partners will collaborate to identify the ideal location for new or expanding projects to support both initial and long-term investment.
Qualifying projects will need to meet the following thresholds: more than 500 net new jobs, at least $250 million in capital investment and must include an expansion or a new facility.
Collaborating state and local partners include: Virginia Economic Development Partnership, Virginia Department of Transportation, Port of Virginia, Virginia Energy, Virginia Department of Environmental Quality, Virginia Department of Health, Virginia Works, Virginia Department of Housing and Community Development and Virginia Housing.
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