Youngkin: Virginia experiencing ‘exciting moment’ for investment
Virginia Governor Glenn Youngkin expressed optimism about the state’s economic prospects, citing it as an “exciting moment” for investment. During an appearance on Fox Business, he highlighted Virginia’s favorable business habitat, noting that the state has been rated highly for business in America, attracting significant investment. Youngkin mentioned that Virginia has received around $100 billion in capital expenditure commitments from companies looking to expand or establish operations there. He emphasized the importance of having ready-to-build sites, a skilled workforce, and robust infrastructure, all of which make Virginia appealing to businesses. The state’s military presence, with thousands of transitioning service members seeking jobs annually, also contributes to the available talent pool.
Youngkin: Virginia experiencing ‘exciting moment’ for investment
Virginia Gov. Glenn Youngkin (R) said Tuesday that the state is experiencing an “exciting moment” for investment as businesses continue to put money into it.
“Companies are expanding in America, and Virginia has been rated one of the top states, if not the top state, for business in America, and a lot of them are investing in Virginia,” Youngkin said during an appearance on Fox Business’s Mornings With Maria. “So, it’s an exciting moment for us.”
The governor’s comments come at the same time Virginia has received roughly $100 billion in “capex commitments,” typically defined as obligations by corporations to spend capital over a specific period on long-term assets.
Companies are coming to his state because Virginia is giving them what they need, according to Youngkin.
“You have to have sites that they can build on,” he said. “So, they have to be shovel-ready. You need a great talent pool, and we got one of the greatest talent pools in America.”
“The military is so present in Virginia, and we have over 20,000 active duty military heroes who transition out every year and are going to be looking for great jobs.”
Virginia’s commitment to investing in infrastructure and broadband has also been crucial in enticing businesses to move to the state, Youngkin said.
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“Companies want to come to a place where they have great infrastructure, a great workforce, and can touch customers all over America,” according to the governor.
“That’s resulted in, yes, $100 billion of commitments from companies who are in Virginia expanding or new ones who want to come.”
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