Governor Abigail Spanberger announces that Southwest Virginia requires 8,600 new housing units to support regional economic development and job growth.
Governor Abigail Spanberger addressed the Southwest Virginia Economic Forum at the University of Virginia’s College at Wise, emphasizing that regional economic growth is currently constrained by a critical housing shortage. To support ongoing industrial attraction, the governor stated the region needs a minimum of 8,600 new residential units in the short term. Spanberger noted that while 18 projects have brought approximately 1,500 jobs to the region over the last five years, including expansions by VFP in Duffield and a new WRAP Technologies manufacturing plant in Norton, site selectors are increasingly concerned about housing availability for potential employees.
To address these challenges, the governor is working with state legislators to increase legal flexibility for housing development, including the promotion of public-private partnerships. Beyond housing, the administration is prioritizing support for small businesses, tourism, and cultural heritage, while emphasizing the need for state-level consistency and infrastructure support. During her visit, Spanberger also attended a ceremonial bill signing for a new facility at the Appalachian Highlands Community Dental Center in Abingdon.
JST Power Equipment opens a 45,000-square-foot transformer manufacturing facility in Wytheville's Fairview Industrial Park.
Marcus & Millichap brokered the $42 million sale of two industrial properties in Manassas, Virginia, totaling approximately 153,000 square feet.
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