Virginia's 2035 Blueprint: A Roadmap Through Economic Headwinds

RICHMOND, VA – December 05, 2025 – Against a backdrop of mounting economic concerns, the Virginia Chamber of Commerce has unveiled a comprehensive, decade-long strategic plan aimed at securing the Commonwealth's economic future. The plan, titled 'Blueprint Virginia 2035', was officially presented to Governor-elect Abigail Spanberger at the 16th Annual Economic Summit and Forum on International Trade, continuing a tradition of business-led guidance for incoming administrations.

The unveiling comes at a critical juncture for Virginia. After years of enjoying budget surpluses and top national business rankings, the state is now confronting projections of significant job losses, rising unemployment, and slowing GDP growth. This new reality elevates the Blueprint from a routine strategic exercise to a potentially vital roadmap for navigating a period of significant economic uncertainty.

A New Blueprint for a Shifting Economy

'Blueprint Virginia 2035' is the culmination of a year-long, statewide effort to gather insights on how to strengthen Virginia's position as a premier state for business. The Virginia Chamber Foundation, the Chamber's 501(c)(3) research arm, engaged more than 10,000 business leaders, community partners, and regional stakeholders through a series of regional tours, industry council meetings, and surveys. The result is a business-led plan targeting critical areas for long-term growth and stability, including workforce development, infrastructure, healthcare, and innovation.

“Blueprint Virginia 2035 reflects a unified statewide vision for the economic future of all Virginians,” said Keith Martin, Interim President and CEO of the Virginia Chamber, in a statement. “We look forward to working with Governor-elect Spanberger and lawmakers to turn these priorities into meaningful progress for Virginia’s businesses and communities.”

The plan’s co-chairs, Monica Schmude, President of Anthem Blue Cross and Blue Shield in Virginia, and Edmond Hughes, Executive Vice President and Chief Human Resources Officer of HII, emphasized the human-centric goals embedded within the economic strategy. Schmude highlighted a clear message from their statewide tour: “Virginians want a healthier future that’s also more affordable and easily accessible.” Hughes framed the plan as a commitment to shaping “a better community for all Virginia citizens.”

This fourth iteration of the Blueprint series aims to provide actionable recommendations to guide policy and private-sector initiatives over the next ten years, addressing everything from workforce readiness to the accessibility of care.

A Test of Leadership for the New Administration

The formal presentation to Governor-elect Spanberger marks a crucial handover, placing the plan's potential success squarely in the hands of the new administration. In her address at the summit, Spanberger embraced the collaboration, signaling a strong alignment between her own economic platform and the Blueprint's objectives.

“I believe the number-one job of the Governor of Virginia is to strengthen the Commonwealth's economy and attract new jobs,” Spanberger stated. “Blueprint Virginia 2035 will help provide a roadmap for growing a Virginia economy where every Virginian can earn a good living — and where businesses know they’ll have access to a talented workforce that is prepared to succeed.”

This sentiment echoes the core pillars of her “Growing Virginia Plan,” which prioritizes expanding workforce training, bolstering business investment through infrastructure and site readiness programs, and growing international trade opportunities. The significant synergy between the Governor-elect's platform and the Chamber's Blueprint suggests a high potential for a unified approach to economic policy. Spanberger committed to “working with our business community — including the Virginia Chamber of Commerce — to make sure our Commonwealth continues to lead the way.”

Confronting Virginia's Economic Headwinds

The collaborative optimism of the summit stands in stark contrast to recent economic forecasts for the Commonwealth. After a strong performance in 2024, Virginia's economy is showing signs of a significant slowdown. Projections from the University of Virginia's Weldon Cooper Center for Public Service estimate a potential loss of up to 32,000 jobs in 2025, largely driven by federal government cuts. The state's unemployment rate, which stood at 3.0% in January 2025, is projected to rise to 4.7% in 2026, potentially exceeding the national average.

This downturn is already being felt in the state's largest metropolitan areas, Northern Virginia and Hampton Roads, which have been losing jobs. Furthermore, Virginia’s GDP growth has decelerated sharply from 6.2% in 2024 to a projected 1.7% in the first half of 2025, lagging behind the national average and neighboring states.

These challenges are compounded by long-term issues that the Blueprint aims to address. High housing costs, particularly in Northern Virginia, are creating labor shortages and making the state less attractive for the 25-44 age demographic. The state's heavy reliance on the federal sector makes it uniquely vulnerable to federal policy shifts, a factor that has contributed directly to the current economic pressure. The successful implementation of the Blueprint's strategies for workforce development, infrastructure improvements, and innovation will be crucial in diversifying the economy and building resilience against these external shocks.

Continuity and Credibility: A Legacy of Planning

While the challenges are new, the strategic planning process is not. 'Blueprint Virginia 2035' is the fourth in a series of long-term economic plans developed by the Chamber. The tradition of presenting the plan to the incoming governor—a practice upheld for the last three administrations, including Governor Glenn Youngkin's receipt of 'Blueprint Virginia 2030' in 2021—lends the effort a sense of non-partisan continuity and credibility.

This history suggests the Blueprint is more than a report destined for a shelf; it serves as a foundational guide that transcends political cycles. Past iterations have been credited with contributing to policy decisions that helped Virginia achieve top national business rankings, including CNBC's top state for business for two consecutive years. This track record provides a basis for optimism that 'Blueprint Virginia 2035' can serve as an effective tool for both the public and private sectors.

As Virginia stands at an economic crossroads, the collaboration between the business community and the incoming Spanberger administration will be paramount. The detailed strategies within 'Blueprint Virginia 2035' offer a comprehensive vision, but its success will be measured not by the document itself, but by its implementation in the face of formidable economic headwinds and its ability to foster a competitive and equitable economy for the decade to come.