HAMPTON ROADS EXECUTIVE ROUNDTABLE

VIRGINIA INITIATIVE FOR GROWTH AND OPPORTUNITY: HAMPTON ROADS EXECUTIVE ROUNDTABLE SERVES AS THE SUPPORT ORGANIZATION FOR GO VA REGION 5. THE TIME COMMITTED TO FULFILL THAT ROLE INCLUDES PROCESSING AND MANAGING GRANTS AND PROVIDING STAFF SUPPORT TO THE REGIONAL COUNCIL. ONLY A PORTION OF THE COSTS INCURRED FOR STAFFING AND GRANT MANAGEMENT SUPPORT ARE RECOVERED THROUGH REMITTANCES ISSUED TO THE COMMONWEALTH OF VIRGINIA. ($ 534,731.93 WAS SPENT IN 2023 BY THE ROUNDTABLE FOR SALARIES/BENEFITS AND SPECIFIC OPERATIONAL COSTS SHARED WITH GO VA. OF THAT AMOUNT THE ROUNDTABLE WAS REIMBURSED $ 250,000). (CONTINUED ON SCHEDULE O)DEMONSTRATION SITE FOR CLEAN ENERGY TRANSITION TO GREEN HYDROGEN (HRH2): A GO VIRGINIA GRANT IN THE AMOUNT OF $ 1,497,452 WAS AWARDED TO ACCELERATE CLEAN ENERGY BASED ON THE FIELD OF GREEN HYDROGEN PRODUCTION. ACHIEVING THE OBJECTIVES OF THIS PROJECT WILL CREATE 750-800 NEW JOBS AND MOBILIZE OVER $200 MILLION IN POTENTIAL LOCAL CAPITAL INVESTMENTS IN NEW CLEAN ENERGY PROJECTS. THE ROUNDTABLE SERVES AS THE GRANTEE, WITH VIRGINIA TECH FOUNDATION AS THE SUBGRANTEE. TALENT PATHWAYS INITIATIVE (TPI): A $250,000 GRANT FUNDED A QUANTITATIVE AND QUALITATIVE SITUATIONAL ANALYSIS OF WORKFORCE NEEDS IN THE CYBERSECURITY/DATA ANALYTICS/MOD-SIM INDUSTRY CLUSTER AS WELL AS UNCREWED SYSTEMS & AEROSPACE. THE INFORMATION FROM THIS REPORT WILL BE USED TO ENSURE THE TALENT NEEDS MEETS THE FUTURE DEMAND IN THESE INDUSTRY SECTOR, WHICH ARE CURRENTLY EXPERIENCING SUBSTANTIAL GROWTH IN THE US MARKET AND THE REGION.2023 GROWTH AND DIVERSIFICATION PLAN: THE HAMPTON ROADS EXECUTIVE ROUNDTABLE AND THE GO VIRGINIA REGION 5 COUNCIL CONTRACTED WITH THE ODU DRAGAS CENTER FOR ECONOMIC ANALYSIS AND POLICY TO UPDATE THE REGION'S ECONOMIC GROWTH AND DIVERSIFICATION PLAN, AS REQUIRED BY THE STATE EVERY TWO YEARS. THE PLAN GUIDES INVESTMENTS MADE THROUGH THE GO VIRGINIA GRANT PROGRAM TO GROW THE REGIONAL ECONOMY, THROUGH TALENT/WORKFORCE DEVELOPMENT, INDUSTRY CLUSTER SCALE-UP, ASSISTING START-UPS, SITE READINESS AND INFRASTRUCTURE DEVELOPMENT. ($40,000 WAS SPENT IN 2023 TO UPDATE THE PLAN). THREE GRANTS WERE AWARDED IN 2023 TOTALING $ 1,847,452, FOR PROJECTS THAT ALIGN WITH THE PLAN.JEFFERSON LAB HIGH PERFORMANCE DATA FACILITY: THE US DEPARTMENT OF ENERGY SELECTED THOMAS JEFFERSON LAB NATIONAL ACCELERATOR FACILITY (JLAB) AS THE LEAD FOR ITS NEW HIGH PERFORMANCE DATA FACILITY HUB, IN PARTNERSHIP WITH DOE'S LAWRENCE BERKELEY NATIONAL LAB. THE HUB WILL BE A $300-$500M COMPUTING AND DATA INFRASTRUCTURE RESOURCE THAT WILL PROVIDE TRANSFORMATIONAL CAPABILITIES FOR DATA ANALYSIS, NETWORKING AND STORAGE FOR THE NATION'S RESEARCH ENTERPRISE. WHILE NO SPECIFIC MONETARY INVESTMENT WAS MADE BY THE HAMPTON ROADS EXECUTIVE ROUNDTABLE IN 2023, THIS PROJECT WILL LEAD TO FUTURE INVESTMENTS THAT WILL CAPITALIZE ON THIS UNIQUE ASSET.