Youngkin, in Support of Suffolk Port 460 Project, Says Local and State Cooperation ‘Really Important’
13 September 2023
WAVY.COM - Virginia’s governor is throwing his support behind a controversial development proposal, two weeks before City Council could vote to greenlight the project.
Wednesday afternoon, when asked by 10 On Your Side why he supports “Port 460,” Gov. Glenn Youngkin (R-Va.) told reporters it shows “Virginia is open for business.”
“What we are seeing around the Port [of Virginia], is a huge interest in expanding the port’s operations,” Youngkin said. “I think Hampton Roads broadly can be a good growth engine for the Commonwealth and it’s exciting to see happen. So I think this cooperation between local authorities and state authorities in order to provide for economic development is really important."
The plans submitted by Maryland-based Matan Companies calls for the purchase and rezoning of approximately 540 acres of farmland in order to build roughly 10 warehouses that would ultimately be marketed for logistics uses.
“The current vacancy rate for this kind of development is 1.4%, for class A warehouse and distribution, meaning there is market demand and need for the project,” Doug Smith, President and CEO of Hampton Roads Alliance, said to Suffolk City Council on Wednesday night.
It’s estimated by city staff the $420 million project will create 2,600 construction jobs and 9,000 long-term jobs.Share ThisTwitterFacebookLinkedInEmailCopy Link Share