Reinvent Hampton Roads

Virginia initiative for growth and opportunity: rhr 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. ($ 514,842.56 was spent in 2022 by rhr for salaries/benefits and specific operational costs shared with go va. of that amount rhr was reimbursed $ 250,000).hampton Roads economic development sites readiness phase ii - the Hampton Roads planning district commission (hrpdc) was awarded a $ 3,751,545 go Virginia grant to complete due diligence work for three sites in region 5 recommended by earlier studies, including the enhanced site characterization project performed by the Virginia economic development partnership (vedp) in 2019. Leveraged with local resources in the amount of $ 10,510,326, these funds were used to elevate three oaks industrial park (chesapeake) and southampton commerce and logistics center (southampton county) to tier 4, and beale farm (southampton county) to tier 2. Each of these sites will attract new business development to the region, resulting in an estimated 400 new jobs and an estimated $ 6.1 million in state income and tax revenue within 5 years of development. Reinvent Hampton Roads served as the grant administrator.757 collab is a collaborative funding vehicle that provides coordination services for three critical entrepreneurial support resources - 757 angels, 757 accelerate and 757 startup studios - all of whom have demonstrative impacts in diversifying the regional economy and creating high paying jobs. 757 collab received a go Virginia grant in the amount of $ 2,420,572 with matching funds from industry, localities, and other sources equaling $ 1,585,531. The project exceeded all outcomes in 2022 to include creating 1,064 jobs, raising $ 98.5 million in capital, and deploying $ 17.1 million in capital, serving 257 businesses. Reinvent Hampton Roads served as the grant administrator.