VA - $2.9M Grant Will Help Virginia's Water Economy Face Climate Change
GO Virginia approved the grant to help the Virginia Coastal Resilience And Adaptation Economy Initiative address flooding challenges.
A $2.9 million grant was recently awarded to the Coastal Resilience and Adaptation Economy initiative that will foster innovation and growth in Virginia’s water economy. The project will launch a resilience entrepreneurship competition and establish a business-focused network to engage businesses and facilitate resilient practices.
The project is a collaboration between Virginia Sea Grant, the nonprofit RISE, the Middle Peninsula Chesapeake Bay Public Access Authority, and Old Dominion University.
“Flooding, storm surge, and climate change impacts are going to have an impact on every company, every business, every homeowner,” said Virginia Sea Grant Director Troy Hartley. “These adaptation solutions are an economic opportunity. This is a chance for Virginia to launch innovative resilience solutions for the flooding challenges we face in the Commonwealth now, and that other coastal regions will also face in the coming years.”
The $2,937,163 project was funded in part by GO Virginia, a state-funded initiative administered by the Virginia Department of Housing and Community Development (DHCD) to strengthen and diversify Virginia’s economy and foster the creation of higher wage jobs in strategic industries. This project will provide a pathway for collaboration between GO Virginia regions five and six, which will address flooding challenges faced by both rural and urban economies.