New economic milestone reached in Virginia as investments surpass previous records

Richmond, Virginia – In a major announcement from the site of the upcoming Kalahari Resorts & Conventions in Spotsylvania County, Governor Glenn Youngkin declared that Virginia has surpassed $100 billion in committed capital investments—more than the total achieved by the previous two administrations combined. Joined by legislators and business leaders, Youngkin emphasized that this record-setting achievement is a testament to the state’s aggressive pro-business strategies and economic vision.

“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,” said Governor Glenn Youngkin.

To sustain and build upon this momentum, the Governor signed Executive Order 49, titled Accelerating Strategic Business Growth, Job Creation, and Investment in Virginia. The order cements into policy the Made in Virginia Investment Accelerator (MVIA), a high-impact strategy first introduced in May that streamlines support for major private investments.

What MVIA Means for Virginia’s Economy

MVIA is designed to fast-track economic projects that meet key thresholds: investments of $250 million or more and the creation of at least 250 jobs. Qualifying ventures are given access to a coordinated team of state agencies that address permitting, infrastructure development, and workforce training—cutting through bureaucracy to ensure swift progress. The initiative is led by the Secretary of Commerce and Trade in collaboration with the Virginia Economic Development Partnership (VEDP).

Governor Youngkin highlighted additional pillars of his administration’s approach: “By delivering $9 billion in tax relief for Virginians and lowering the cost of living, streamlining 80,000 regulations to reduce the cost and time of doing business, and making record investments in critical priorities like education, public safety, transportation and business-ready sites, opportunity is thriving in Virginia.”

Executive Order 49 and Its Strategic Focus

The new executive order will support the broader Compete to Win initiative, a six-part strategy focusing on:

• Targeted support for high-growth industries

• Expanding and training Virginia’s workforce

• Rapid development of infrastructure and industrial sites

• Making the state more affordable for families and businesses

• Reducing operational hurdles and regulatory red tape

• Fostering innovation and small business growth

Juan Pablo Segura, Virginia’s Secretary of Commerce and Trade, praised the Governor’s direction: “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. We are setting business investment records because of the Governor’s leadership and his signal to the market that Virginia wants to partner with the business community, wants to innovate with private industry, and wants to support private investment as much as possible.”

Collaboration Across State Agencies

MVIA brings together several critical state partners including the Virginia Department of Transportation, the Port of Virginia, Virginia Energy, the Department of Environmental Quality, the Department of Health, Virginia Works, and the Department of Housing & Community Development. Together, these agencies provide coordinated support and reduce delays that often burden large-scale investment projects.

MVIA works hand-in-hand with existing programs like the Virginia Talent Accelerator and the Workforce Housing Investment Program to offer comprehensive solutions for companies expanding or relocating to Virginia.

With this landmark achievement and the launch of Executive Order 49, the Youngkin administration is not only celebrating past success but doubling down on future economic transformation.