Volume 88 No. 8
AUGUST 2024
“The Voice of Port Industries” @VAmaritime
$126 MILLION IN VIRGINIA BUSINESS READY SITES PROGRAM GRANTS ANNOUNCED 23 industrial sites in 12 regions across the Commonwealth. Administered by the Virginia Economic Development Partnership (VEDP), the program aims to make these sites “project-ready” by funding infrastructure improvements and assembling necessary permits and approvals. These grants are part of Virginia’s broader effort to attract employers and manufacturers by providing them with operations-ready sites, a factor that contributed to Virginia being named America’s Top State for Business by CNBC in July. Photo courtesy of City of Roanoke
On August 8, 2024, Governor Glenn Youngkin announced the allocation of $126 million in development grants through the Virginia Business Ready Sites Program (VBRSP) to enhance
The program’s latest round of funding highlights Virginia’s commitment to advancing its industrial infrastructure. Governor Youngkin emphasized the importance of these investments, noting that Virginia was previously lagging behind other states in site readiness. Continue Reading on Page 3
VIRGINIA PORT AUTHORITY COMPLETES $83 MILLION RAILYARD EXPANSION AT NIT Norfolk International Terminals (NIT) on August 6, 2024. This significant milestone supports the growing container volumes and strengthens Virginia’s position for future growth. The expansion at the port authority’s largest terminal enables it to process up to 2 million 20-foot containers annually by rail, marking a 31% increase in on-dock rail capacity. Rail carriers Norfolk Southern and CSX will service the enhanced railyard, which aims to extend the port’s reach to key Midwestern population and manufacturing centers. Photo: VMA
The future is bright in Virginia! Alongside the Port of Virginia®, the Virginia Maritime Association celebrated the completion of the $83 million expansion project at the central railyard at
INSIDE THIS EDITION
The expansion comes as cargo volumes on the East Coast are steadily rising, according to Stephen Edwards, CEO and executive director of the Virginia Port Authority. The port reported a 13% increase in rail container processing in the last fiscal year, handling 784,597 rail containers. Continue Reading on Page 4
h Committee Updates (4)
h Association in Action (6)
h Upcoming VMA Events (2)
h Port Statistics (5)
h SWAM Certified (6)
h Southwest Chapter Meeting (3)
h VMA24 (5)
h VMA 24-25 DUES (7)
1