Virginia is to set up an offshore wind office and invest up to $40m (€36m) in upgrades to the Portsmouth Marine Terminal.
The office and port upgrades will be financed under a proposed $733m budget announced by Virginia governor Ralph Northam.
The new office and the port upgrade will help secure new investments in the offshore wind supply chain, and help the state in achieving 2.6GW of offshore wind capacity by 2026, which the state utility Dominion Energy is developing.
Northam said: “In Virginia, we are proving that a clean environment and a strong economy go hand-in-hand-and having both is what makes our Commonwealth such a great place to live, work, and play.
“These significant investments in environmental protection, environmental justice, clean energy, and clean water will combat climate change and ensure we maintain our high quality of life here in Virginia.”
State commerce and trade secretary Brian Ball said, “The proposed investments in clean energy financing and the first office of offshore wind will create new business opportunities, expand customer access to renewable energy, and spark high-demand jobs of the twenty first century.
“Likewise, the investments at Portsmouth Marine Terminal will enable the Commonwealth to attract new economic investment from the offshore wind industry, which is pivotal as we work to diversify the economy in Hampton Roads.”
The proposed budget also supports the Chesapeake Bay clean water blueprint released earlier this year with major investments to support local governments tackling stormwater pollution, upgrade wastewater treatment plants, and assist farmers implementing conservation practices to reduce farm runoff, totalling more than $400m.
Northam also proposed an additional $15.5m investment for the Virginia Land Conservation Foundation grant programme, bringing it up to $20 million each year, to support targeted land protection through the governor’s ConserveVirginia initiative.
To ensure Virginia reduces carbon pollution, the proposed budget removes language-added by the General Assembly-prohibiting Virginia’s participation in the Regional Greenhouse Gas Initiative (RGGI). Northam will also propose legislation making Virginia the newest member of RGGI.
“These significant investments in environmental protection, natural capital, and resilience to climate change will position Virginia as a leader among states in creating sustainable, equitable communities,” said Secretary of Natural Resources Matthew Strickler. “I am proud of the progress we are making.”
The proposed budget provides $10m for a revolving loan fund that will enable both private citizens and local government institutions to make investments in renewable energy and energy efficiency projects.
The budget also includes funding to hire an administrator of a complementary clean energy-financing programme.