As a part of the recent Growth and Opportunity for Virginia’s/GO Virginia’s, Peterburg’s promising pharma cluster stands to gain substantially. The expanding pharma cluster has been awarded by the state with perfect amount of monetary medicine.
Governor Ralph Northam’s office announced on Thursday, publishing a list of total 14 grants worth $7.7 million. These grants are boosters aimed to encourage economic development across the commonwealth. Of the total $7.7 million, $1.4 million will be dedicated to the development of the pharmaceutical company cluster which will sit at the Petersburg Industrial Park. The grant will be used by the Activation Capital under the independent state authority. The funding will be thoroughly invested in growth and development of the Pharmaceutical Manufacturing cluster.
Establishing an effective communications campaign will be a crucial step along with ensuring that workforce needs are met. Lastly, the growth approach will cultivate strategic relationships to expand the pharma cluster network.Petersburg has been involved in the GO Virginia grant funding for the second time since June this year. Such extensive grants allow projects that are striving towards economic development, said Northam.