GO Virginia approves 2 new projects to create jobs
Wednesday, February 14, 2018
The state GO Virginia board has approved two job creating projects submitted by the local GROW Capital Jobs Council. The Board signed off on funding for two projects submitted by the local GO Virginia council, which includes 17 counties and cities in the Richmond Region and the Crater Planning Districts.
VCU Pharmaceutical Commercialization Program
Funding and purpose: $500,000 over two years – to develop and accelerate the commercialization of technology arising from the Medicines for All Program at the VCU School of Engineering. Within three years it is projected that the commercialization activity will contribute significantly to job creation in the region. This project will help set the cornerstone of an advanced manufacturing cluster to develop and commercialize equipment and processes that are projected to fundamentally change how drugs are manufactured and distributed.
Estimated economic impact: Between January 1, 2018 and December 31, 2020, total wages and salaries generated could reach $25 million
Commonwealth Center for Advanced Manufacturing Apprentice Academy
Funding and purpose: $430,000 to address the growing need for workforce development, empower regional manufacturers and raise the national profile of Virginia as a place to do business. The Commonwealth Center for Advanced Manufacturing (CCAM) partnering with John Tyler Community College has used Federal funds to match the GO Virginia grant to create a pilot program for Mechatronics at the CCAM Apprentice Academy in Prince George County to serve the entire region. The CCAM Apprentice Academy will represent a progressive and proactive approach to workforce development within Region 4 and the Commonwealth.
Estimated economic impact: Funding will be used to retrain and provide professional certifications to workers from the private and military sectors allowing them the opportunity to retool, grow and build their career and increase their wages.
Wilson Flohr, CEO of GROW Capital Jobs Foundation noted that both approved projects align closely with GROW Capital Jobs Growth and Diversification Plan’s strategic priorities. “These projects will benefit the population of the entire region and have the potential to be the start of something bigger than the specific objectives outlined in the proposals. We look at these projects as gateways to support long-term economic growth associated with the region’s innovation economy.”
GO Virginia is a new business-led coalition that provides state incentives for Virginia’s localities to collaborate on economic development initiatives involving community leaders in business and education. Virginia plans to invest more than $21 million in matching grants in nine GO Virginia regions to increase higher-paying jobs this fiscal year. Projects benefiting The Richmond Region and the Greater Petersburg Area are eligible to receive up to $3.2 million in state and matching funds.
Flohr said that the GROW Capital Jobs Foundation is actively seeking project proposals that meet the council’s funding criteria. “We are seeking projects that will benefit our region’s future economy,” he said. For more information on how to apply for funding consideration contact GROW Capital Jobs at info@GROWCapitalJobs.org or call (804) 788-5824.