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.
Latest News 
Governor McDonnell Announces the Creation of 57 New Jobs in City of Newport News
Governor Bob McDonnell today announced that High Liner Foods, a publicly-owned processor and marketer of frozen seafood, will invest $6.6 million to expand its U.S. foodservice production in the city of Newport News. High Liner Foods acquired the operations of the former Icelandic USA in December 2011. The company plans to increase productivity via process improvements and upgrades to the current facility. Virginia successfully competed against Georgia and South Carolina for the project, which is expected to create 57 new jobs.more...
Statement of Governor Bob McDonnell on Virginia Unemployment Rate Falling to 54 Month Low
Governor Bob McDonnell issued the following statement this morning following the release of official monthly unemployment data from the Federal Bureau of Labor Statistics showing Virginia's unemployment rate has fallen to 5.2%. That's the lowest unemployment rate in Virginia in 4 ½ years.more...
