PORT OF VIRGINIA® DRIVES JOB CREATION AND ECONOMIC DEVELOPMENT

NORFOLK | The Port of Virginia® continues to solidify its position as a crucial economic force in the Commonwealth, according to a recently published study conducted by The College of William & Mary. The study examined the economic impact of the activities generated by the six facilities owned or operated by the Virginia Port Authority (NIT, VIG, PMT, NNMT, RMT, VIP), comparing fiscal year 2022 (FY22) to the previous year 2021 fiscal year.

With the fiscal year spanning from July 1, 2021, to June 30, 2022, the Port of Virginia’s® contribution to job creation and economic investment has been substantial. Mr. Stephen Edwards, the CEO and executive director of the Virginia Port Authority (VPA), expressed optimism about the port’s future, stating, “We are investing $1.4 billion to expand our overall capacity and cargo handling capabilities, and this will have a positive effect on the Virginia economy. As this port grows, so will its benefits to all Virginians.”

The FY22 performance of the Port of Virginia® marked its most productive fiscal year to date, with over 3.7 million twenty-foot equivalent units processed at its terminals. The movement and handling of this cargo, combined with the port’s efficiency and productivity, significantly contributed to the Virginia economy.

Continue Reading on Page 4