Price Controls Put Virginia Jobs and $10B+ in Investments on the Line

Effective leadership recognizes that policy decisions do not exist in a vacuum – they shape jobs, economic growth and patient access to life-saving treatments. Virginia Gov. Abigail Spanberger recently put workers, employers and Virginia’s future first, setting an example for how thoughtful policymaking can foster innovation and opportunity.

Virginia’s biopharmaceutical sector is in the middle of historic growth.

Since 2025, life sciences companies have committed $10B+ in newly announced investments in Virginia to bolster research and development, expand manufacturing and create jobs across the Commonwealth.

In Virginia, these investments include cutting-edge R&D facilities to advanced manufacturing plants that will bring breakthrough treatments closer to the patients who need them. Some examples include:

• At least three new, major manufacturing facilities in Goochland County, and cities of Albemarle and Elkton.

• 1,750 permanent, direct jobs and more than 10,000 construction jobs for the region in addition to the 55K+ jobs Virginia’s life sciences industry currently supports

• Billions of dollars in investment

• Faster delivery of breakthrough medicines to U.S. patients

This is part of a broader national story. America’s life sciences sector support nearly 5 million U.S. jobs and $71.6 billion in vendor spending on top of more than $582+ billion in announced investments across America. The positive impact of these investments reaches deep into the states, including Virginia, supporting roles for the scientists and engineers who will work in these new facilities along with the workers who will build, renovate and maintain them.

But progress isn’t guaranteed. China is maintaining a rapidly expanded, coordinated campaign to dominate the life sciences globally. Their efforts jeopardize America’s cures and momentum, making it more important now than ever to have smart policies in place that encourage ongoing investment and secure America’s future as the leading authority in this space.

That’s why drug price setting policies threaten Virginia’s biotech revolution. They risk:

• 230+ fewer new medicines over the next 10 years

• 1.1 million lost jobs

• Surrendering competitive edge to China

• Failing to lower patient costs or addressing the real drivers of rising health care costs

For Virginia – a hub for biopharmaceutical innovation and advanced manufacturing – the stakes are high. Lawmakers have a choice: protect Virginians. Do not pursue policies that risk billions in investment and thousands of jobs.

For more information on Virginia’s investments, visit We Work For Health.