Virginia Isn't Just Playing To Win...It IS Winning

There's an undeniable energy buzzing across Virginia, and as I travel through this vibrant state brokering multifamily properties, I'm filled with excitement about what lies ahead. Virginia is not only making waves but is also establishing itself as a hub of economic development. In this post, I will highlight specific examples of the remarkable growth happening across the state, showcasing why Virginia is not just playing to win but is truly winning.

Google’s $9B Commitment

Google's monumental commitment of $9 billion to expand its data center operations in Virginia is a pivotal move. This investment reinforces Virginia's standing as a data center powerhouse, maintaining its lead in tech through 2026. The state is seeing an 80% surge in demand for cloud services, ensuring that this commitment will generate thousands of jobs in data management and tech support, further fueling the local economy.

Hitachi Energy’s $457M Expansion

In South Boston, Hitachi Energy is embarking on a game-changing $457 million expansion focused on advanced manufacturing and energy resilience. This initiative is poised to create about 1,000 high-quality jobs and enhance the region's capabilities in the manufacturing sector. It's expected that this investment will increase the local economy's productivity by nearly 10%, as the region becomes a center for innovative energy solutions.

Coastal Virginia Offshore Wind (2.6GW)

Virginia is making significant strides in renewable energy with the Coastal Virginia Offshore Wind project, slated to be the largest offshore wind initiative in the U.S. at 2.6 gigawatts. This project is not only set to create over 3,000 clean energy jobs, but it also positions Virginia as a leader in renewable energy. With renewable energy jobs expected to grow by 25% by 2030, this project showcases the state’s commitment to sustainable practices.

Amazon & Lego “Big Deals”

Virginia is attracting major corporations at an unprecedented pace. Amazon's $500 million robotics center in Goochland is projected to create around 1,000 new jobs. On another front, Lego's $366 million distribution hub in Prince George will add over 300 jobs, enhancing the local job market and contributing to the economic growth of the state. Together, these projects exemplify a growing trend: Virginia’s economy is expected to grow by 5% in the next year.

Berry Hill Megasite Breakthrough

The Berry Hill Megasite is generating excitement, with Microporous committing $1.35 billion to establish operations that will bring approximately 2,000 jobs to Southside Virginia. This infrastructure-ready site is poised to attract additional companies and suppliers, creating a diverse and robust economic environment that could lead to an overall 7% increase in local commerce.

Nuclear & Alternative Energy Investments

Virginia's forward-thinking investments in next-generation energy solutions—such as small modular nuclear reactors and hydrogen hubs, along with expanded solar capacity—are remarkable. This comprehensive approach is not only ensuring energy security but also attracting $3 billion in investments into the state’s energy sector. With energy innovation expected to grow by 15%, Virginia is a prime spot for future energy projects.

Amazon HQ2 (Arlington)

Amazon's East Coast headquarters in Arlington continues to reshape Northern Virginia. With over 2.1 million square feet of office space and thousands of employees already on-site, the project anticipates creating 25,000 new jobs at full capacity. This landmark development offers a significant boost to the local economy, with expected economic impacts reverberating throughout the region.

Atlantic Park / Wave Park (Virginia Beach)

Virginia Beach is set to shine with the development of Atlantic Park, an ambitious $350 million mixed-use project. This project will introduce the U.S.’s most advanced surf lagoon, retail spaces, restaurants, and entertainment options. Not only will this attract tourists and locals alike, but it is estimated to increase local tourism revenue by 15%.

Allianz Amphitheater at Riverfront (Richmond)

Richmond is also gearing up with the construction of the Allianz Amphitheater at Riverfront, a 7,500-seat venue expected to host about 30 major shows each year. This venue will bring entertainment into the city and is projected to generate millions in economic impact, revitalizing the surrounding areas and enhancing community engagement.

Fiscal Strength

Virginia's financial health is another cornerstone of its promising future. The state concluded fiscal year 2025 with a remarkable $1.7 billion surplus while retaining its AAA credit rating. This fiscal responsibility encourages investor confidence and supports sustained growth across multiple sectors, ensuring that Virginia remains competitive on both the national and global stage.

A breathtaking aerial view of Richmond City at sunset, showcasing the vibrant skyline and intricate highway network alongside the James River, under a stunning sky painted in hues of orange and blue.

Virginia is Winning

Virginia is not just participating in the economic race; it is leading with confidence. With significant investments from industry giants, a focus on renewable energy solutions, and strong fiscal governance, the state is positioning itself as a beacon of opportunity.

For those in commercial real estate or investment sectors, Virginia offers a wealth of possibilities. Whether you’re eyeing multifamily properties in Richmond, considering commercial investments in Hampton Roads, or looking at developments in Roanoke or Virginia Beach, the landscape is ripe for exploration.

As we witness these exhilarating advancements, one thing is clear: Virginia is on a robust path toward a thriving economic future. Exciting times lie ahead, and it is essential to stay tuned to the opportunities in this dynamic state!