Volume 7 | December 19th 2025

December Edition

A Message from Secretary Segura

Learn more about Sec. Segura here

Something that’s been in the news a lot lately is affordability. When we talk about it, we usually focus on just one approach, lowering costs. The critiques of that approach are real, and they matter. We absolutely need to lower the cost of housing by eliminating onerous regulations, and we have to rethink our approach to energy.

However, one issue that hasn’t received nearly enough attention is the increase in real wages. When you’re a pro-business locality and attract companies to your area, it creates intense competition for skilled workers. The downstream effect is real. Wages rise faster than in the rest of the country.

Over the last year, we’ve announced 156 billion dollars in net new capital investment across the Commonwealth. That growth is broad-based. We currently have 220,000 open jobs, with 85,000 more on the way, plus another 40,000 construction jobs. Because of this opportunity, real wages in Virginia have increased by more than 10 percent over the past year. The national average is just 4.2 percent. That means real wages in Virginia are growing at more than twice the national rate.

For someone making 50,000 dollars a year, a 10 percent wage increase means an extra 5,000 dollars annually. Even after adjusting for inflation, that’s at least 3,000 more dollars in your pocket. No sustainable or realistic government program can do that. That’s the power of economic development and why it’s been one of my core priorities as Secretary of Commerce and Trade.

Governor Youngkin announced a new round of funding for the Virginia Workforce Housing Investment Program. In total, the program commits $75 million over five years with the potential to catalyze $750 million and build 5,000 units of workforce housing in conjunction with economic development projects in the Commonwealth. The Workforce Housing Investment Program complements the investment of companies moving to or expanding in Virginia to ensure adequate workforce housing for the regions and communities.

Secretary Segura had the honor of attending a Diwali celebration, where he had the opportunity to learn more about the Festival of Lights. The Indian-American community continues to be a bright light in our Commonwealth and an important part of our shared success.

Governor Glenn Youngkin announced a landmark partnership with AstraZeneca, Eli Lilly and Company, and Merck that commits up to $120 million of private industry investment toward developing the Virginia Center for Advanced Pharmaceutical Manufacturing. This builds on over $12.5 billion in recently announced capital investment from the Life Sciences sector, committing to create thousands of jobs in the Commonwealth. 

“On the heels of $12.5 billion in announced investments in Virginia to bring back American manufacturing, we are further partnering with the private sector to create an unparalleled workforce development hub that will offer new opportunities for Virginians and local communities,” said Virginia Secretary of Commerce & Trade Juan Pablo Segura. 

Secretary Segura recently had the chance to tour Accomack County. He visited the country’s third-busiest space port on Wallops Island, along with businesses that employ thousands, such as Perdue Farms, and small businesses that are building the future. Far too often, the Eastern Shore is left off the map, forgotten by people who don’t truly understand the depth of Virginia.