The economy of Virginia collects nearly three-quarters of $1 billion per year from the state's wine industry, Governor Bob McDonnell said on Thursday in a press release.
The contribution of $747 million from the wine industry to the state economy represents an increase of 106 percent from figures collected during the most recent economic impact study, which was administered in 2005. The press release did not reference the status of loans for farm land.
"The Virginia wine industry has seen tremendous growth over last few years," the governor said. "From beautiful new wineries starting up to more and more retail outlets and restaurants adding our wines to their shelves and menus, the growth has been very evident even to the casual observer. However, this study clearly quantifies that growth with empirical data and shows the significant economic impact that the industry is having across the Commonwealth."
The governor also noted the state of Virginia is en route to becoming the top locale for tourism for wine and winery on the East Coast.
The economic study also indicated the wine industry provided full-time jobs for 4,753 people, which is up from the roughly 3,100 people when the study was administered in 2005.
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