Governor Terry McAuliffe announced August 14 the Virginia Economic Development Partnership (VEDP) received grant funding for a second year of its Going Global Defense Initiative (GGDI). The purpose of this international program is to mitigate the negative impact of defense spending cuts on Virginia’s economy. With 5,000 defense companies in Virginia facing U.S. Department of Defense (DOD) announced spending reductions of more than $300 billion in the next five-plus years, Virginia stands to lose many high-paying jobs. VEDP’s GGDI is the Commonwealth’s only program that replaces DOD revenue streams for Virginia’s defense companies. Click here for article.
GOVERNOR MCAULIFFE ANNOUNCES 2ND YEAR OF VEDP GOING GLOBAL DEFENSE INITIATIVE