GO Virginia Establishes Economic Resilience & Recovery Program

The GO Virginia State Board has dedicated up to $14.66M from the PY20 statewide competitive pool to create the GO Virginia Economic Resilience and Recovery Grant Program (ERR) to respond to the unprecedented economic conditions facing Virginia due to the near and long-term effects of the coronavirus on regional economies. This program would help regions build capacity to support and serve existing businesses, prioritizing traded sectors and essential businesses, including the healthcare system and its supply chain during this crisis.

Region One is eligible to apply for up to $1.0M with $5.66M in reserve for all regions for extraordinary need or extraordinary positive economic impact. The ERR program requires a 2:1 match and the match must come from non-state sources of revenue. No local match is required. All GO Virginia projects require the participation of two or more localities. If no local match (cash or in-kind) is provided, letters of endorsement from two or more localities or a public body representing the interest of two or more localities will be required and the project must demonstrate meaningful participation of those public bodies.

This program is time limited, with an initial 12-month application window (April 18, 2021) unless extended by the GO Virginia State Board.

Key activities as part of this program would include:
1. Reevaluate priorities in Growth and Diversification plans;

2. Prioritize identified industry targets based on immediate impact and influence on the regional economy;

3. Assess community and business needs; and

4. Focus resources on actionable strategies that expand or build needed capacity and that support sustaining and expanding firms in targeted industry clusters and/or highlyimpacted locally traded sectors as identified by the regional councils.

Regional Councils may wish to partner on projects that have significant statewide impact and where they have shared interests (industry focus, common strategies) or where there would be efficiencies in operating at scale. Two or more partnering councils may apply for the $5.66 M available for statewide projects. A lead Council must receive, review, and approve the project and submit it for consideration by the State Board. Partnering Regions must have meaningful involvement and have their respective Council formally endorse the application.

To view the guidelines and applications for the ERR program, visit http://www.goswva.org/proposals.