2023 GO Virginia Fiscal Year End Report, Virginia Department of Housing and Community Development
Summary
2023 FISCAL YEAR END REPORT on the Virginia Growth and Opportunity Fund (GO Virginia), submitted by the Virginia Department of Housing and Community Development, Bryan Horn, Director. It gives an overview of Board funded projects closed between July 1, 2022 to June 30, 2023. It states that the FY23-FY24 biennium budget allocated $30.0 million for the fund in FY23, with three grant categories. The executive summary names four priority investment strategies: startup ecosystems, cluster scale-up, workforce development, and site development and infrastructure. It says all outcomes are self-reported, with signed attestations to the accuracy of results submitted with closeout reports by both the subgrantee and the respective Regional Council Chair.
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“2023 GO Virginia Fiscal Year End Report, Virginia Department of Housing and Community Development.”
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2023 FISCAL YEAR END REPORT
Submitted by the Virginia Department of Housing and
Community Development
Bryan Horn, Director
2023 GO Virginia Fiscal Year End Report
Chapters 778 and 779 of the 2016 Virginia Acts of Assembly amended Title 2.2 of the Code of
Virginia by adding Chapter 24 to create the Virginia Growth and Opportunity Board (the Board)
and the Virginia Growth and Opportunity Fund (VGOF) within the Virginia Growth and
Opportunity Act. Chapter 1 Item 115 Section N.6.b requires the Department to submit a report of
outcomes associated with closed projects that received a grant from the Virginia Growth and
Opportunity Fund at the close of each fiscal year. The information provided here an overview of
Board funded projects that were closed between July 1, 2022 to June 30, 2023.
1
1 CONTENTS
2 The Virginia Growth and Opportunity Fund .................................................................................................. 3
3 Executive Summary ................................................................................................................................................... 4
4 Fiscal Year 2023 Outcomes Overview Table ..................................................................................................... 7
2
2 THE FUND
Appropriations for the Virginia Growth and Opportunity Fund are included in the budget for the
Virginia Department of Housing and Community Development (DHCD). The fund, as created in
§2.2-2487 of the Code, has three grant categories:
(1) Capacity building funds to assist regional councils in building capacity for job creation and
program implementation (capacity building grants);
(2) Per capita project grants allocated to each region on a per capita basis for projects of
regional significance (per capita grants); and
(3) Competitive grants awarded for projects of statewide economic impact and interregional
collaborations (competitive grants).
The FY23-FY24 biennium budget allocated $30.0 million for the fund in FY23. The following
chart shows the distribution for FY23 among the three fund categories, including the per capita
allocation across nine GO Virginia regions.
3
3 EXECUTIVE SUMMARY
The Department of Housing and Community Development continued its support of Growth and
Opportunity Virginia Board funded projects in four priority investment strategies; startup
ecosystems, cluster scale-up, workforce development, and site development and
infrastructure. These strategies are recognized as essential building blocks for sustaining and
accelerating the growth of traded industry clusters, which are interrelated firms who together
contribute significantly to Virginia’s total economic output. Firms in supported traded clusters are
positioned to compete to serve national and international markets and most importantly, drive
wealth-creating employment opportunities for Virginians.
Among closed projects, there is an important distinction to be made in relation to regional per
capita projects. These projects fall into one of two different categories: (a) implementation
projects and (b) planning, pilot, and feasibility studies.
All implementation projects include quantified outcomes that are submitted as part of the initial
application, included in the contracts obligating funds, and ultimately tracked and reported
throughout the contract lifespan and in the final performance closeout report. While in recent
years these outcome metrics have been solidified and the process for metric tracking from
contractual obligation through closeout has become a focus of the program, at the earliest onset
of the program, those processes weren’t in place. In those cases, many of the outcomes reported
by the end of reporting were not gathered during the application period, and therefore appear
as “not measured” in this report. There are other instances where more recent projects have
committed outcomes as well as outcomes that appear as “not measured” due to those outcomes
not being contractually obligated but still tracked by the grantee and subgrantee.
Planning, pilot, and feasibility studies often do not have quantified contractual outcomes and
appear in this report as “not applicable”. These projects, which are limited to less than $100,000
per project and may make up no more than $250,000 worth of projects by region each fiscal
year, are developed and submitted with quantitative outcomes, usually in the form of a study or
report. All projects falling under this category are required to demonstrate in the application
process that they are precursor to a future implementation project through the GO Virginia
4
program. An example of this relationship is demonstrated through the SHD Sites ECB, which closed
this fiscal year, but led to a more than $800,000 implementation project that is currently in the
implementation phase and will likely appear in a future closeout report.
All outcomes resulting from the Growth and Opportunity Virginia Program are self-reported with
signed attestations to the accuracy of results reported submitted with closeout reports by both the
subgrantee and the respective Regional Council Chair.
Investment Strategy Outcomes
Site Development and Infrastructure
Of the GO Virginia projects closed in fiscal year 2023, there were seven site development and
infrastructure planning projects and two site development and infrastructure implementation
projects. The following are achieved outcome metrics for the implementation projects: 14,100
linear feet of sewer line completed, 33,100 linear feet of water line completed, 20,000 feet of
linear gas line completed, 1,725 acres advanced per the VEDP Virginia Business Ready Sites
Program Scale, and 1,600 total acres developed.
Workforce Development
Of the GO Virginia projects closed in fiscal year 2023, there were six workforce development
planning projects and eighteen workforce development implementation projects. The following
are achieved outcome metrics for the implementation projects: 5,738 students trained, 3,214
credentials awarded, 17 students enrolled in dual enrollment, 689 internships created, 16
new programs implemented, 17,666 jobs created/filled, 1,032 employees upskilled, 48
existing jobs retained, and 4,029 businesses served.
Startup Ecosystems
Of the GO Virginia projects closed in fiscal year 2023, there were five startup ecosystem
planning projects and eight startup ecosystem implementation projects. The following are
achieved outcome metrics for the implementation projects: 11,019 businesses served, 47
businesses created, 33 existing businesses expanded, 309 entrepreneurs engaged,
$26,896,662 of capital deployed, $18,790,250 of capital raised, $131,065 average deal size,
5
149 fund investments, 18 new programs implemented, 4,065 students trained, 7,478 jobs
created/filled, 10,445 existing jobs retained, 25 internships created, and 4 apprenticeships
created.
Cluster Scale-Up
Of the GO Virginia projects closed in fiscal year 2023, there were six cluster scale-up planning
projects and six cluster scale-up implementation projects. The following are achieved outcome
metrics for the implementation projects: 9 businesses attracted, 468 jobs created/filled, 36
internships created, 807 businesses served, 16 businesses retained, 6 existing businesses
expanded, 5 new products released to market, and $4,000,000 of capital raised.
6
Regional GO Virginia Investment GO Virginia Program Anticipated Project Actual Project
Project Council Type Strategy Year Date of Award Award Amount Committed Match Outcome Type Outcomes Outcomes
MaMaC Mega-Site 4 Competitive Site Development & FY18 8/14/2018 $ 2,217,500.00 $ 3,262,175.00 Linear Feet of Sewer Not Measured 14,100
Infrastructure Completed
Linear Feet of Water Not Measured 33,100
Completed
Acres Advanced Per Not Measured 1,600
VEDP VBRSP Scale
Total Acres Developed Not Measured 1,600
GO TEC Phase- Phase 2B 3 Competitive Workforce FY18 3/12/2019 $ 4,896,528.00 $ 4,915,962.00 Jobs Created/Filled 400 1,345
Development Businesses Served 8 10
Credentials Awarded 900 2,857
Lonesome Pine RIFA Coordinator 1 Per Capita Site Development & FY18 6/24/2019 $ 50,000.00 $ 50,000.00 Not Applicable
Infrastructure
Smart Farming at the Center for 1 Per Capita Workforce FY18 3/12/2019 $ 310,372.00 $ 380,500.00 Students Trained 56 278
Workforce and Innovation of Development
Appalachia Employees Upskilled 56 278
Businesses Served 12 16
New Programs 2 3
Implemented
Credentials Awarded 45 20
Ignite Tech Talent 1 Per Capita Workforce FY19 9/22/2020 $ 251,960.00 $ 251,960.00 Not Applicable
Development -
Planning
Project Energizer 1 Per Capita Site Development & FY19 4/17/2020 $ 50,000.00 $ 50,000.00 Not Applicable
Infrastructure
Planning
Project Innovation 1 Per Capita Site Development & FY19 4/17/2020 $ 100,000.00 $ 150,000.00 Not Applicable
Infrastructure
Planning
Blueridge Crossroads Economic 1 Per Capita Site Development & FY20 12/7/2020 $ 527,600.00 $ 320,684.00 Acres Advanced Per 125 125
Development Authority, Wildwood Infrastructure VEDP VBRSP Scale
Natural Gas Extension, 2020 Planning
Linear Feet of Gas 20,000 20,000
Completed
Project Fuse 1 Per Capita Cluster Scale Up - FY20 4/21/2021 $ 70,000.00 $ 35,000.00 Not Applicable
Planning
GROW(TH): The Business of 1 Per Capita Startup Ecosystem - FY21 4/21/2021 $ 52,950.00 $ 26,500.00 Not Applicable
Agriculture in SWVA Planning
Project Veer 1 Per Capita Cluster Scale Up - FY21 10/15/2021 $ 49,750.00 $ 24,875.00 Not Applicable
Planning
Developing a Destination for Talent 2 Per Capita Workforce FY19 9/10/2019 $ 300,000.00 $ 473,000.00 Businesses Served 30 52
Development Internships Created 230 319
IALR Common Platform 3 Per Capita Workforce FY19 4/15/2020 $ 90,140.00 $ 121,960.00 Not Applicable
Development -
Planning
Middle Mile Expansion - Planning 3 Per Capita Site Development & FY19 7/15/2020 $ 100,000.00 $ 904,000.00 Not Applicable
Infrastructure
Planning
Activation Capital 4 Per Capita Startup Ecosystem FY19 6/24/2019 $ 100,000.00 $ 100,000.00 Businesses Served Not Measured 12
CCAM AMA Business Plan 4 Per Capita Workforce FY19 6/24/2019 $ 50,000.00 $ 50,500.00 Not Applicable
Development -
Planning
Sussex County Water Study 4 Per Capita Site Development & FY21 4/15/2021 $ 96,000.00 $ 49,000.00 Not Applicable
Infrastructure
Planning
Virginia Digital Shipbuilding 5 Per Capita Workforce FY18 12/11/2018 $ 647,540.00 $ 1,877,000.00 Jobs Created/Filled 8,500 8,000
Program (year 2) Development
Businesses Served 300 322
Internships Created 200 225
New Programs 2 9
Implemented
757 Angel Network 5 Per Capita Startup Ecosystem FY19 3/12/2019 $ 240,000.00 $ 479,000.00 Jobs Created/Filled 104 647
Internships Created Not Measured 1
Existing Businesses Not Measured 33
Expanded
Businesses Served 4 37
Entrepreneurs Engaged Not Measured 309
Capital Deployed Not Measured $26,896,662.00
Fund Investments 4 149
Average Deal Size Not Measured $131,065.00
Virginia Cyber Alliance (Year 2) 5 Per Capita Workforce FY19 12/11/2018 $ 642,713.00 $ 750,100.00 Students Trained Not Measured 30
Development Employees Upskilled Not Measured 11
Jobs Created/Filled Not Measured 12
Existing Jobs Retained Not Measured 11
Businesses Served Not Measured 8
Internships Created Not Measured 25
Credentials Awarded Not Measured 37
REI 757 5 Per Capita Startup Ecosystem - FY20 12/9/2019 $ 266,667.00 $ 133,333.00 Not Applicable
Planning
757 Collab Bridge 5 Per Capita Startup Ecosystem - FY21 12/18/2020 $ 32,000.00 $ 120,024.00 Not Applicable
Planning
RVA-757 Connects I-64 Innovation 5 Per Capita Cluster Scale Up - FY21 11/19/2020 $ 90,000.00 $ 45,000.00 Not Applicable
Corridor Talent Pipeline Study Planning
Hampton Roads Regional Energy 5 Per Capita Cluster Scale Up - FY22 8/5/2021 $ 84,000.00 $ 42,000.00 Not Applicable
Needs Assessment Planning
Virginia Digital Shipbuilding 5 Per Capita Workforce FY18 12/12/2017 $ 647,540.00 $ 1,877,000.00 Jobs Created/Filled Not Measured 295
Workforce Program (year 1) Development
Businesses Served Not Measured 300
Cybersecurity Certification Program 6 Per Capita Workforce FY18 3/12/2019 $ 110,000.00 $ 110,000.00 Students Trained 50 32
Development Employees Upskilled 25 32
Existing Jobs Retained 75 32
Businesses Served Not Measured 13
Credentials Awarded 25 3
Fredericksburg Regional Industrial 6 Per Capita Site Development & FY18 5/11/2020 $ 14,665.00 $ 7,335.00 Not Applicable
Facilities Authority Infrastructure
Planning
Commercial Kitchen at Longwood 6 Per Capita Startup Ecosystem - FY19 5/11/2020 $ 50,000.00 $ 50,000.00 Not Applicable
Hull Springs Planning
Northern Neck Workforce Training 6 Per Capita Workforce FY19 4/17/2020 $ 62,500.00 $ 62,500.00 Not Applicable
Feasiblity & Site Selection Study Development -
Planning
Internship Expo & Hiring Workshop 6 Per Capita Workforce FY22 2/14/2022 $ 36,000.00 $ 37,254.00 Businesses Served 50 85
Series Development
Internships Created 75 72
Northern VA Bioscience Center 7 Per Capita Cluster Scale Up FY19 9/22/2020 $ 500,000.00 $ 755,000.00 Businesses Attracted 6 4
Jobs Created/Filled 60 50
Capital Raised $2,000,000.00 $4,000,000.00
Roadmap for Reskilling Workers for 7 Per Capita Workforce FY19 6/15/2021 $ 90,000.00 $ 68,100.00 Not Applicable
Technology Employment Development -
Planning
Future Kings STEM Pipeline Project 7 Per Capita Workforce FY20 11/22/2021 $ 97,000.00 $ 76,000.00 Not Applicable
Focused on Black and Latino Boys Development -
Planning
Innovation Center Roadmap 7 Per Capita Startup Ecosystem - FY20 9/15/2021 $ 100,000.00 $ 52,000.00 Not Applicable
Planning
NOVA Fab Lab: An Industry 7 Per Capita Workforce FY18 12/12/2017 $ 250,000.00 $ 1,829,000.00 Students Trained Not Measured 44
Supported Center for Technology Development
Training, Innovation and Inspiration
Jobs Created/Filled Not Measured 31
Businesses Served Not Measured 15
Internships Created Not Measured 37
New Programs Not Measured 4
Implemented
Credentials Awarded Not Measured 20
Strengthening Alexandria/Arlington's 7 Per Capita Workforce FY18 12/12/2017 $ 201,897.00 $ 255,049.00 Students Trained Not Measured 92
Technology Workforce Initiative Development
Employees Upskilled Not Measured 17
Jobs Created/Filled Not Measured 44
Existing Jobs Retained Not Measured 5
Credentials Awarded Not Measured 83
BRCC Cyber Security Workforce 8 Per Capita Workforce FY18 6/12/2018 $ 200,000.00 $ 200,000.00 Students Trained 50 67
Development and Jobs Program Development
Jobs Created/Filled 50 51
Businesses Served Not Measured 141
Internships Created Not Measured 11
Credentials Awarded Not Measured 60
Rockbridge Area Advanced 8 Per Capita Workforce FY18 2/13/2018 $ 100,000.00 $ 100,000.00 Students Trained Not Measured 129
Manufacturing Project (RAAMP) Development
Employees Upskilled Not Measured 18
Jobs Created/Filled Not Measured 50
Businesses Served Not Measured 20
Credentials Awarded Not Measured 95
Students Enrolled in Not Measured 17
Dual Enrollment
Agricultural Enterprise Center 8 Per Capita Cluster Scale Up - FY19 6/23/2020 $ 85,000.00 $ 85,000.00 Not Applicable
Feasibility Study Planning
Industrial Hemp Initiative Phase I 8 Per Capita Cluster Scale Up - FY19 4/17/2020 $ 53,630.00 $ 53,630.00 Not Applicable
Planning
Scale-up the Valley 8 Per Capita Cluster Scale Up FY19 4/17/2020 $ 50,000.00 $ 50,000.00 Jobs Created/Filled 40 2
Businesses Served 20 3
SHD Site ECB 8 Per Capita Site Development & FY20 6/29/2021 $ 100,000.00 $ 50,000.00 Not Applicable
Infrastructure
Planning
GWC Piedmont Technical Education 9 Per Capita Workforce FY18 4/10/2018 $ 244,300.00 $ 431,625.00 Students Trained Not Measured 115
Center Development
Jobs Created/Filled Not Measured 7
Credentials Awarded Not Measured 39
Catalyst Accelerator Program 9 Per Capita Startup Ecosystem FY19 3/12/2019 $ 475,200.00 $ 47,600.00 Jobs Created/Filled 116 115
Internships Created 12 21
Businesses Served 20 19
Capital Raised Not Measured $10,584,300.00
Biotech Innovation Cluster Growth 9 Per Capita Cluster Scale Up FY20 12/9/2019 $ 548,000.00 $ 604,740.00 Jobs Created/Filled 70 416
Internships Created 15 36
Businesses Attracted Not Measured 5
Businesses Retained 7 16
Existing Businesses Not Measured 6
Expanded
Businesses Served Not Measured 131
Business Resiliency 9 GO VA Regional Economic Cluster Scale Up FY20 3/16/2021 $ 131,220.00 $ 65,800.00 Businesses Served 240 523
Resilience and Recovery
2020
Future of Workforce Outreach VCW- 9 GO VA Regional Economic Workforce FY20 6/15/2021 $ 148,689.00 $ 74,250.00 Businesses Served 15 45
P Resilience and Recovery Development
2020
Regional Business and Professional 9 GO VA Regional Economic Workforce FY20 11/20/2020 $ 76,500.00 $ 38,450.00 Businesses Served 100 1,760
Connector Platform Resilience and Recovery Development
2020
Westmoreland Workforce Training 6 GO VA Regional Economic Workforce FY20 6/25/2020 $ 36,000.00 $ 18,000.00 Students Trained 40 35
Center Extension Resilience and Recovery Development
2020 Jobs Created/Filled 20 10
Capital Region SBDC Launch 4 GO VA Regional Economic Startup Ecosystem FY20 6/28/2020 $ 30,500.00 $ 102,551.00 Students Trained Not Measured 1,586
Resilience and Recovery Existing Jobs Retained Not Measured 213
2020
Jobs Created/Filled 150 370
Businesses Served Not Measured 1,067
New Programs Not Measured 5
Implemented
Businesses Created 50 47
Capital Raised $5,000,000.00 $8,205,950.00
Demand+Supply=Success: Virtual 4 GO VA Regional Economic Startup Ecosystem FY20 5/28/2020 $ 80,600.00 $ 150,000.00 Students Trained Not Measured 2,479
Connections for Businesses and Resilience and Recovery
Jobseekers 2020
Internships Created Not Measured 3
Apprenticeships Not Measured 4
Created
New Programs Not Measured 13
Implemented
Credentials Awarded Not Measured 1,797
Businesses Served Not Measured 308
Jobs Created/Filled 1,500 40
Virginia Restaurant & Hotel 4 GO VA Regional Economic Workforce FY20 3/16/2021 $ 132,500.00 $ 80,000.00 Students Trained 700 676
Workforce Covid Recovery & Resilience and Recovery Development
Upskilling 2020
Employees Upskilled 700 676
Businesses Served Not Measured 175
Marine Trades Program Expansion 5 GO VA Regional Economic Workforce FY20 11/20/2020 $ 99,137.00 $ 49,569.00 Students Trained 340 175
(MTPE) Resilience and Recovery Development
2020
Local Ordering Communication and 8 GO VA Regional Economic Cluster Scale Up FY20 12/17/2020 $ 60,600.00 $ 30,300.00 Businesses Served 200 82
Agricultural Logistics Initiative Resilience and Recovery
2020
Reopening SAW 8 GO VA Regional Economic Cluster Scale Up FY20 7/25/2020 $ 50,000.00 $ 25,000.00 Businesses Served Not Measured 68
Resilience and Recovery New Products Released Not Measured 5
2020 to Production
New River Valley Business 2 GO VA Regional Economic Startup Ecosystem FY20 9/22/2020 $ 250,000.00 $ 125,000.00 Businesses Served 150 354
Continuity Team (Phase 2) Resilience and Recovery
2020
Pivot and RAMP Up 2 GO VA Regional Economic Startup Ecosystem FY20 5/6/2020 $ 97,200.00 $ 49,000.00 Businesses Served 12 19
Resilience and Recovery
2020
Virginia Small Business 7 GO VA Statewide Economic Startup Ecosystem FY20 9/22/2020 $ 1,000,000.00 $ 600,000.00 Jobs Created/Filled 3,600 6,306
Development Center (SBDC) Resilience and Recovery
Recovery Effort 2020 Existing Jobs Retained 5,600 10,232
Businesses Served 8,800 9,203
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