Requirements
Initial GO Virginia project proposal guidelines
GO Virginia has two overriding requirements for any projects it funds. First, this economic development initiative is designed to provide incentives for localities to collaborate. All projects must have the support of two or more localities.
Second, all GO Virginia funding must be matched by non-state funds. These funds can come from federal or local governments, foundations and the private sector.
As soon as GO Virginia completes detailed requirements for projects it will fund, they will be posted here.
For initial planning purposes, GO Virginia grants cannot be used for:
- Incentive grants to private companies
- Economic development marketing
- Trade missions
- Quality of life projects, and
- Construction of transportation projects, except for site development
The following are examples of possible eligible regional projects:
- Small business development
- Entrepreneurship and innovation activities
- Business formation, incubation and acceleration activities
- Activities to facilitate capital formation
- Workforce development and skills enhancement
- Career and technical education
- Science, technology, engineering and mathematics (STEM) and healthcare-related education
- Education, skills development and job placement for veterans and retired military
- Export development and trade promotion
- Tourism and economic development activities
- Attraction, development and retention strategies around viable industry clusters
- Site development for economic development purposes
- Telecommunications infrastructure for economic development purposes with a particular focus on unserved areas
- Research and development activities and associated technology transfer and commercialization
- Governmental reengineering and reform related to repurposing funds to support economic and workforce development activities
- Other economic or workforce development activities
Finally, these are the metrics that the state GO Virginia Board and its regional Councils will measure in determining priority of funding for potential projects:
- Expected economic impact
- Fiscal resources committed to project
- Number and percentage of localities in region participating
- Expected impact and outcomes or projects and complexity of project
- Projected cost savings
- Regional effort
- Interstate or inter-regional collaboration
- Efficient administration and oversight
- Compatibility of proposed projects with other projects, programs and existing infrastructure