Over the past four years, Virginia secured a staggering $156 billion in private sector business investments, fueling job creation across the state. This capital influx has translated into more than 250,000 new jobs added, with over 220,000 open positions currently available, plus an additional 85,000 permanent jobs and 40,000 construction roles on the horizon. These figures underscore a robust job market driven by strategic policies that rewarded work, streamlined regulations, and invested in infrastructure and workforce development.
Youngkin’s administration transformed Virginia’s approach to workforce training by creating the Virginia Works agency, which streamlined fragmented programs and boosted registered apprenticeships by nearly 40 percent to over 15,000 statewide. This made Virginia the number one state in the nation for active registered apprenticeship programs, directly addressing the demand from booming industries like data centers, manufacturing, and advanced technology. CNBC recognized these efforts by naming Virginia America’s Top State for Business, highlighting commitments like $72 billion in capital, site development, and right-to-work protections.
Financially, the state thrived under disciplined budgeting. Revenues grew at a 60 percent clip in the general fund, surpassing forecasts consistently. This led to four straight years of surpluses totaling $10 billion against original budgets, enabling historic $9 billion in tax relief—averaging over $4,600 per family. Reserves hit record highs, with $1.7 billion in cash and $4.7 billion in the Rainy Day Fund. Youngkin’s final fiscal year closed with a $2.7 billion general fund surplus, $572 million above projections, providing a strong foundation for future stability.
Even with legislative opposition, Youngkin vetoed burdensome bills and cut regulations by 35 percent, fostering an environment where businesses flourished. Examples include a $689 million manufacturing complex in Chesapeake by LS Cable & System and massive data center expansions, with Virginia hosting 665 compared to other states’ far fewer. These investments span regions, powering opportunity everywhere from Hampton Roads to Northern Virginia.
As Democrat Abigail Spanberger assumes the governorship, questions loom about sustaining this momentum amid proposals for tax hikes despite the surplus. Youngkin’s model proves that relentless pursuit of pro-growth policies delivers results, even against odds. His tenure restored faith in Virginia’s future, attracting families and enterprises seeking prosperity.
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