FOR IMMEDIATE RELEASE
Date: March 15, 2019
Reinvent Hampton Roads on behalf of GO Virginia Region 5
On March 13, Virginia Governor Ralph Northam announced key members of the Governor’s cabinet, the General Assembly, and the business community approved more than $6.7 million in Growth and Opportunity for Virginia (GO Virginia) funding for seven regional projects across the Commonwealth, three of which are in Region 5. GO Virginia funds support projects that are vital to a region’s economic diversification, will strengthen their workforce and support collaboration between localities, public entities, and private businesses. Since 2017, Region 5 has received $ 3.27 Million in GO Virginia funds, leveraged with an additional $ 7.6 Million in non-state sources.
757 Angels will receive $240,000 from the Go Virginia Per Capita fund, allowing them to expand efforts to connect the most promising startup and early stage companies to smart growth capital. 757 Angels is the first centralized source of angel and seed-stage capital in Hampton Roads, with 120 members and $40 million deployed in Virginia companies to date. 757 Angels also led the creation of other entrepreneurial resources that have helped to grow a critical mass of quality, investable companies, such as 757 Accelerate (mentorship-driven start-up acceleration program); 757 Seed Fund; Innovation Hub; iCap (a George Mason University program now with a presence in Hampton Roads); Startwheel (digital hub to connect entrepreneurs with resources); 757 Launch; and Women in Venture.
Accomack-Northampton Planning District will receive $65,000 in Enhanced Capacity Building funds for an Eastern Shore Main Force Sewer Transmission Line Study. The study, involving Accomack County, Northampton County, Town of Onancock, and the Town of Exmore, will be the next step needed to expand capacity for industrial land development, advancing the potential of the Eastern Shore to participate in the Virginia Business Ready Sites Program.
Hampton Roads Workforce Council will receive $99,705 in Enhanced Capacity Building funds to establish the Hampton Roads Coalition for Talent Development (COALITION). This project includes all localities in Region 5, business and industry, institutions of higher education, Workforce Investment Boards, Chambers of Commerce, Economic Development leaders, the Virginia Tidewater Consortium for Higher Education, and the K12-education system. The COALITION will enable systematic collaboration, involvement and investment of major partners in developing and supporting talent in a way that will foster economic growth for business and industry as well as prosperity and social well-being for all who reside here.