The Norfolk board of the Hampton Roads Chamber recently received a presentation from Sarah McCoy, State Governmental Affairs Director for the Virginia Port Authority. McCoy provided the board members with an economic development update.
The Port of Virginia employs a team of economic development specialists who work throughout the Commonwealth to assist in leveraging the port to locate or expand Virginia businesses engaged in international trade.
The VPA is now the highest rail-volume port on the East Coast and is continuously making investments to maintain the momentum. In 2016, forty-one port users located or expanded their businesses in Virginia. This equates to more than $900 million dollars of investment and the potential for 3,800 new jobs across the state.
The Port of Virginia is also focusing their efforts on expansion investments. The highlights of these investments include expansions at Norfolk International Terminals and Virginia International Gateway which will increase the port’s capacity by 40%, or 1 million containers, providing the room to move more products for Virginia and American businesses and allowing those businesses to create jobs throughout the Commonwealth and the country.
Click here to view the presentation.
(Pictured here from left to right: Frank Hughlett, President & CEO from Junior Achievement; Sarah McCoy, State Governmental Affairs Director for the Virginia Port Authority, and Tim Peters, Norfolk Division Chair and GM for the Norfolk Sheraton Waterside.)