Each of the four economic development manufacturing deals Spanberger signed off on is structured so the companies can get millions from the state over time if they invest a certain amount of money and create a certain amount of jobs.
Gov. Abigail Spanberger’s office announced Monday she had signed legislation aimed at creating thousands of new jobs and attracting billions of dollars worth of investment in Virginia.
The four pieces of legislation Spanberger signed involve economic development deals around the state that have a combined goal of creating 3,250 jobs and resulting in companies investing a combined $7.1 billion in the economy.
“From my very first day in office, I have been working to create a stable business environment so companies can hire, expand, and continue to invest in our Commonwealth,” Spanberger said in a press release. “I am signing these bills into law so we can continue to grow Virginia’s economy and create opportunities for Virginians.”
Each of the four deals is structured so the companies can get millions from the state if they invest a certain amount of money and create a certain amount of jobs. The deals involving AstraZeneca, Eli Lilly and Company, and Hitachi Energy were struck while former Republican Gov. Glenn Youngkin was in office.
Spanberger signed legislation that makes Avio USA, a rocket motor manufacturer, eligible for $97.7 million over 19 years if it invests $537.5 million and creates 1,546 new jobs in Pittsylvania County that pay an average annual wage of $81,483.
If the drugmaker AstraZeneca over a period of 20 years invests $4 billion in Albemarle County and creates 500 jobs to manufacture medication, the company can earn up to $191.2 million in grant payments from the state in a period expected to be 20 years. The AstraZeneca jobs have to have an average annual wage of at least $160,750.
Spanberger signed legislation for a deal with Eli Lilly and Company for the pharmaceutical company to invest $2.1 billion and create 468 jobs in Goochland County to make active pharmaceutical ingredients for cancer, autoimmune diseases, and other advanced therapies.
The jobs have to have an average annual wage of at least $113,632. If Eli Lilly holds up its end of the bargain, it would be eligible for $130 million from the state.
Spanberger also signed legislation offering Hitachi Energy up to $29.4 million over nine years if it invests $457 million and creates 825 jobs in Halifax County to manufacture power transformers. The average annual wage for these jobs would have to be at least $73,830.
“Attracting new businesses and jobs to Virginia is a core focus of my administration — and I’m proud of the hundreds of millions of dollars in investment we have already announced this year,” Spanberger said. “I look forward to continuing to work with legislators, local communities, and business leaders as we make clear that Virginia is the top state in the nation to grow or start a business.”
Doris Crouse-Mays, president of the Virginia AFL-CIO, said in a statement to Dogwood that the deals signed into law by Spanberger were an important step toward strengthening Virginia’s workforce and economy. Crouse-Mays emphasized the importance of focusing on creating good jobs.
“The best jobs are those that lead to long-term stability, that provide a living wage, strong benefits, and a voice on the job through a union contract,” Crouse-Mays said. “When working people have that foundation, our families, communities, and entire Commonwealth are stronger.”
Politicians on both sides of the aisle like to tout the importance of bringing back American manufacturing, but the long-term trend in the US and in Virginia is an ongoing decline in the sector.
The most recent economic forecast from the University of Virginia’s Weldon Cooper Center for Public Service notes that Virginia lost 6,600 manufacturing jobs in 2025. Weldon Cooper predicts Virginia to lose another 4,600 manufacturing jobs in 2026 as the sector “continues to face structural headwinds that limit short-term recovery.”
Just this week, Packaging Corporation of America let the state know it plans to shut down a plant in Richmond and lay off 109 workers there.
These Richmond workers are represented by United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, Local No. 8-699. The union could not be reached for comment.
