Northam unveils Virginia trade plan

Published November 13, 2019 by Robert Powell, III

Gov. Ralph Northam's administration has adopted an international trade strategic plan aimed at boosting Virginia exports 50% during the next 15 years.

In unveiling the plan at the 71st Virginia Conference on World Trade in Norfolk on Wednesday, the governor said his goal is move the commonwealth into the top 20 states in terms of exports per capita by 2035. Virginia now is No. 41 among the 50 states.

The commonwealth also is ranked 38th in imports as a share of gross state product.

“Maintaining Virginia’s position as the best state to do business and ensuring that all regions of the commonwealth can participate in our economic growth requires that we boost our international trade,” Northam said in a statement.

The strategic plan identifies 26 initiatives in three categories to support existing companies involved in international trade, while attracting and expanding trade-intensive businesses. 

The plan aims to adding nearly $18 billion in annual exports and more than 150,000 jobs.