RICHMOND, Va. (WFXR) — Your favorite bottle of wine goes a long way when it comes to helping Virginia’s economy.
In 2019, the economic impact of Virginia wines was estimated at $1.73 billion, according to a new study. This was a 27% increase from 2015. The study calculated wine production, sales, and wine grape farming.
“We’re excited by the growing impact of Virginia wines and are proud to provide over 10,000 jobs and contribute almost $200 million dollars in taxes to the state,” said Kirk Wiles, Chairman of the Virginia Wine Board. “First and foremost, Virginia Wine is an industry of people— business owners, farmers, wine lovers— and we’re fortunate to be able to give back to the Commonwealth through the local economy.”
Across the Commonwealth, there were reported increases from 2015.
- Full-time equivalent jobs up 27%
- Number of wineries up 37%
- Revenue from wine-related tourism up 31%
“The agriculture and tourism sectors are the biggest contributors to Virginia’s economy, thanks in large part to industries like Virginia Wine,” said Secretary of Agriculture and Forestry Matt Lohr. “I’m proud to represent and help support local, craft products as they remain a staple in the Commonwealth— and in this case, both for the quality of the wines and the evident impact to our economy.”
Economic Forensics and Analytics, Inc. performed the study using IMPLAN Modeling. You can read the full report here.