What We Do
The Secretary of Commerce and Trade oversees the economic, community, and workforce development of the Commonwealth. Each of the 13 Commerce and Trade agencies actively contributes to the Commonwealth's economic strength and high quality of life.
Whether you are looking to start a small business or relocate a multi-million dollar company in Virginia, we are ready to assist you.
Grant Funding from the Department of Defense, Office of Economic Adjustment
Due to the disestablishment of US Joint Forces Command, the Secretary of Veterans Affairs and Homeland Security applied for grant funding from the Department of Defense, Office of Economic Adjustment to assist in minimizing the impact to the Hampton Roads region. Working closely with the Secretaries of Technology, Education and Commerce and Trade, the Commonwealth reached out to the Hampton Roads Region to ask for ideas on ways to diversify the region to be less dependent on the Defense industry. A common theme developed, to create a comprehensive analysis of the Modeling and Simulation sector in Hampton Roads.
Key regional stakeholders who assisted on this project include: Hampton Roads Economic Development Alliance, Hampton Roads Partnership, Hampton Roads Planning District Commission and the City of Suffolk.In April of 2012, the Commonwealth of Virginia contracted with Chmura Economics & Analytics to create a comprehensive analysis of the modeling and simulation sector in Hampton Roads. Read the final documents (report and strategic plan) here Report , Appendix and Strategic Report.
Statement of Governor McDonnell on Submission of Warner/Kaine Legislation to Expand Offshore Energy ProductionGovernor Bob McDonnell issued the following statement in support of The Virginia Outer Continental Shelf Energy Production Act of 2013, cosponsored by senators Mark Warner and Tim Kaine. It is similar to House legislation recently proposed by U.S. Representative Scott Rigell. The legislation would expand American offshore energy production with a revised five-year leasing plan, and provide revenue sharing and would provide an alternative to the Obama Administration's proposed 2012-2017 offshore oil and gas leasing plan, which excludes Virginia.