Strengthen the Spirit of Virginia
Strengthen the Spirit of Virginia
Strengthen the Spirit of Virginia
Strengthen the Spirit of Virginia
RICHMOND, VA — Governor Glenn Youngkin today announced that general fund revenues are up 6.3 percent ($1,485.9 million) year-to-year through the first ten months of Fiscal Year 2025 and that for the month of April, total general fund revenues grew by 8.8 percent ($322.4 million) versus the same period last year. Compared to forecast, year-to-date total general fund revenues are ahead of projections by 0.8 percent ($211.1 million), with two months remaining.
“Virginia’s financials remain strong, reflecting strong job growth and business investment,” said Governor Glenn Youngkin. “With over 265,000 more Virginians working today versus three years ago and over $100 billion in capital investment commitments from companies eager to grow in Virginia, the Commonwealth’s financial performance is tracking ahead of forecast.”
“Strong revenue results for April, a significant collection month, indicate that the Virginia economy continues to exceed our prudent forecast. While we continue to have confidence in our FY2025 forecast and the long-term resiliency and strength of the Virginia economy, we are cognizant of potential short-term risks associated with federal job reductions and the resetting of trade relationships,” said Secretary of Finance Steve Cummings. “The Governor’s final actions on the budget reflect a prudent and responsible plan on behalf of our taxpayers to provide additional cushion for the Commonwealth’s general fund resources.”
The full April 2025 revenue report is available here.
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