Forbes.com Names Virginia A Best State for Business

Wednesday, 12 November 2014 17:41 by Info@YesVirginia.org
Virginia has done it again, receiving another top ranking on the Forbes.com annual Best States for Business study. Virginia ranked No. 4 this year and had previously held the No. 1 or 2 spot since the inception of the study in 2006. While we are accustomed to a higher billing, Virginia is honored to receive the continued recognition from Forbes as a best state for business...

Virginia has done it again, receiving another top ranking on the Forbes.com annual Best States for Business study. Virginia ranked No. 4 this year and had previously held the No. 1 or 2 spot since the inception of the study in 2006. While we are accustomed to a higher billing, Virginia is honored to receive the continued recognition from Forbes as a best state for business.

The Forbes.com ranking is based on six categories pulled from 36 points of data — costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life.

Highlights for the Commonwealth of Virginia include the No. 1 ranking for its regulatory environment. Forbes.com touted Virginia’s strong incentive offerings and business-friendly government policies.

Virginia ranked No. 2 for labor supply and was the top state on the East Coast. The Commonwealth’s skilled and well-educated workforce has long been esteemed by Virginia companies as a key component in their success. In addition, Virginia has the highest concentration of high-tech workers according to the TechAmerica Foundation’s Cyberstates 2013.

Virginia received a No. 5 ranking for quality of life. The Commonwealth’s favorable cost of living combined with access to natural resources, from the ocean to the mountains, and its historical, cultural and sports and entertainment offerings make Virginia a great place to live and work.

Concern over the effects of sequestration led to a lower score in the growth prospects category, ultimately affecting Virginia’s overall ranking this year. The growth prospects category includes a five-year forecast from Moody’s Analytics.

VEDP and the Virginia economic development community have long realized the potential impact of sequestration to our economy, and today’s No. 4 ranking further illustrates the new economic challenge facing Virginia.    

The Commonwealth is committed to attracting new jobs and capital investment, and cultivating new economic growth through a proactive and aggressive economic development program. Initiatives like VEDP’s Going Global Defense Initiative, which helps Virginia defense companies mitigate the impact of federal spending cuts by launching an international strategy and growing revenue in markets overseas, will play an important role as we build a new Virginia economy.

In the meantime, Virginia takes pride in our strong showing in the 2014 Forbes.com Best States for Business report. We continue to be ranked a best state because Virginia offers a business-friendly environment, favorable operating costs, a top workforce and premier East Coast location and transportation network. To learn why companies have prospered in the Commonwealth for more than 400 years, click here.

Photo courtesy of Virginia Tourism Corp.

Global Center for Automotive Performance Simulation Established in Halifax County

Friday, 7 November 2014 16:14 by Info@YesVirginia.org
The Global Center for Automotive Performance Simulation was recently established in Halifax County, Va., through the merging of the National Tire Research Center and SoVa Motion...

The Global Center for Automotive Performance Simulation was recently established in Halifax County, Va., through the merging of the National Tire Research Center and SoVa Motion.

The facility will remain at the Virginia Motorsports Technology Park, adjacent to the Virginia International Raceway, which is the longest motorsports road course in the U.S. with 4.2 miles of tarmac.

The National Tire Research Center was established in 2010 through a public-private partnership among the Virginia Tech Transportation Institute, General Motors, the Institute for Advanced Learning and Research, and the Virginia Tobacco Indemnification and Community Revitalization Commission.

The tire center houses the Flat Trac LTRe, an $11.3 million, high-performance tire testing machine that allows speeds of 200 mph on car, truck and motorsports vehicles. Due to strong customer demand, the center has grown from 13 to 26 employees, and expects to expand beyond 30 employees over the next year.

NTRC has previously partnered with SoVa Motion (Southern Virginia Vehicle Motion Lab), which is operated by the Virginia Tech Transportation Institute. SoVa Motion has an eight-post shaker rig and driving simulator which can replicate various road conditions and many of the world’s racing tracks to test driver performance, shock and suspension reaction, on-vehicle sensing, as well as virtually prototype vehicle components.

While the facilities have served major U.S. customers, such as General Motors, Goodyear Racing and NASCAR, rebranding as GCAPS reflects the increasing global scope of their customer base.

GCAPS will also build upon the success of its math modeling and simulation capabilities by adding a virtual design and integration laboratory. The facility will provide full performance testing of highway and racetrack vehicles in both physical and virtual environments.

GCAPS is a key part of Virginia’s Motorsports Alley and augments the Commonwealth’s strengths in the automotive industry. To learn why more than 150 automotive companies call Virginia home, click here.

Executive Director Frank Della Pia appears next to a tire testing machine at the newly-branded Global Center for Automotive Performance Simulation in Halifax County, Va. Photo courtesy of the Global Center for Automotive Performance Simulation.

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A WJCC guidance counselor also attended another Manufacturing Day event nearby at Newport News Shipbuilding. The program allowed 13 area high school guidance counselors to tour the Welding School and The Apprentice School to view hands-on demonstrations of trades training.

Manufacturing Day is a national program that encourages manufacturing companies across the U.S. to open their doors and provide tours for high school students in their communities. The purpose is to dispel misperceptions about the industry and inspire students to pursue careers in manufacturing after seeing the high-tech, rewarding career paths available to them.

The Manufacturing Day events in Virginia illustrate the Commonwealth’s leadership in preparing students for advanced manufacturing careers and developing a workforce with the skills to meet industry needs. To learn more, click here.

Virginia students tour the Anheuser-Busch control room and learn about the high-tech nature of today’s advanced manufacturing careers. Photo courtesy of the Association for Manufacturing Excellence.

VEDP Named a “Best in Class” Economic Development Group at IEDC Conference

Monday, 20 October 2014 13:22 by Info@YesVirginia.org
VEDP was named a “Best in Class” economic development organization today at the International Economic Development Council’s Annual Conference...

VEDP was named a “Best in Class” economic development organization today at the International Economic Development Council’s Annual Conference.

The results were tabulated by Development Counsellors International as part of its 2014 “Winning Strategies in Economic Development Marketing” report. DCI conducts a survey among U.S. corporate executives and site selection consultants every three years.

“The leading economic development organizations identified in this year’s survey set the standard across the country for being ‘Best in Class’ on so many levels and clearly stand out to site selectors across the country,” said DCI President Andrew T. Levine. “As states look at how to build and strengthen relationships with site selectors and influence corporate executives’ decisions on where to locate, invest and create jobs, ‘Winning Strategies’ provides a glimpse into the minds of this important audience.”

VEDP tied for sixth place with 15 percent of the responding executives and location advisors identifying us as a top economic development organization.

During FY2014, VEDP assisted on 183 projects that resulted in announcements of 15,029 new jobs and $5.19 billion in invested capital. These 183 projects will generate an estimated $280 million of new state tax revenue for Virginia after five years and approximately $620 million after 10 years. These projects will also generate an estimated $276 million of local tax revenue after five years and approximately $612 million after 10 years.

VEDP’s recognition as a “Best in Class” organization from one of our key markets — executives and location advisors — makes this award all the more meaningful and illustrates that we are on track to fulfill our mission:

"To enhance the quality of life and raise the standard of living for all Virginians, in collaboration with Virginia communities, through aggressive business recruitment, expansion assistance, and trade development, thereby expanding the tax base and creating higher-income employment opportunities."

To learn more about how VEDP can assist your business, click here.

YesVirginia Business Blog | A place for news, opinions, and information regarding the Virginia Economic Development Partnership.

Check out VEDP’s Ad for the UCI Road World Championships on NBC Sports

Tuesday, 22 September 2015 16:41 by Info@YesVirginia.org
As many of you are already aware, the 2015 UCI Road World Championship cycling event is taking place in Richmond this week. Excitement has built around the event, which is returning to the U.S. for the first time in nearly 30 years...

As many of you are already aware, the 2015 UCI Road World Championship cycling event is taking place in Richmond this week.

Excitement has built around the event, which is returning to the U.S. for the first time in nearly 30 years. It is a huge coup for Richmond to have been selected as the host city and furthers its reputation as a global destination. The championships are held annually in an international city chosen by the Union Cycliste Internationale through a competitive bidding process.

With 450,000 spectators expected to watch the race onsite and a TV audience in the hundreds of millions, this is certainly a tremendous opportunity to represent Virginia on the world stage. 

The Virginia Tourism Corp. has partnered with Richmond 2015, the organizer of the nine-day event, and will air 500 30-second commercials across U.S. domestic television broadcasts during the event. As part of Virginia's sponsorship, VEDP received a portion of these spots and produced a new commercial tailored to the UCI event that is airing on NBC Sports Network during the race this week.

VEDP worked with Richmond companies Elevation Advertising to create the ad and The Branching to produce it. Overcoast developed the original background track, incorporating the cycling sounds.

Richmond is fortunate to have a strong cycling culture and was able to draw upon local talent to film the ad. We’re grateful to Carytown Bicycle Company, who provided items for the shoot, and local cyclist John Eiler, who rides for Team Carytown Bicycle Company and appears in the commercial.

Sports commentators have already remarked on the beauty of the city and the diverse and challenging courses that Richmond offers to competitors.

To learn why Virginia is a great place to live, work and play, click here. Check out our TV ad below.

CCAM Graduates First Class of Transitioning Military and Veteran Training Students

Tuesday, 15 September 2015 14:58 by Info@YesVirginia.org
The Commonwealth Center for Advanced Manufacturing recently celebrated the graduation of its first class from the Transitioning Military and Veteran Training Program. This initiative provides advanced manufacturing and precision machining training for active duty and veteran soldiers preparing to enter the civilian workforce...

The Commonwealth Center for Advanced Manufacturing recently celebrated the graduation of its first class from the Transitioning Military and Veteran Training Program. This initiative provides advanced manufacturing and precision machining training for active duty and veteran soldiers preparing to enter the civilian workforce.

The program was developed through a collaboration among CCAM, the Virginia Tobacco Region Revitalization Commission, the Southern Virginia Higher Education Center, Southside Virginia Community College, the Crater Regional Workforce Investment Board, the Virginia Employment Commission, 180 Skills and the Fort Lee Soldier for Life – Transition Assistance Program.

Fort Lee’s Soldier for Life program identified a group of transitioning soldiers to participate in the inaugural class. This gave the soldiers the opportunity to receive training, free-of-charge, during the last few months of their enlistment to prepare them to quickly begin a civilian career.

Training took place at SVCC’s Emporia Center and included 162 modules of interactive, online learning and 300+ hours of hands-on training. Instructors were provided by SVCC and SVHEC.

The eight graduates received a Machining Skills Certificate from SVCC and five industry credentials, including OSHA 10 and 4 NIMS (National Institute of Metalworking Skills) certifications.

Employers in the region, including Enclos Inc., Jewett Machine Inc., Richmond Tooling Inc., Rolls-Royce, Coesia North America and Kosmo Machine Inc. actively supported the program by participating in the curriculum design and visiting and mentoring students along the way.

All eight graduates have received job offers. 

“The motivation of the students and employers made this first class a success,” said CCAM Director of Workforce Development Bruce Sobczak. “Driven by feedback from local employers, we’re currently looking at expanding the curriculum to include industrial maintenance technician and industrial CAD drafter certifications, as well as adding a location to serve the military workforce in the Hampton Roads region.”

To learn more about the Transitioning Military and Veteran Training Program, contact Bruce Sobczak at bruce.sobczak@ccam-va.com.

More than 18,000 people exit Virginia military bases each year and enter the civilian workplace. This initiative is another shining example of the public-private partnerships that keep Virginia’s workforce at the top of their game. To learn more, click here.

The Transitioning Military and Veteran Training Program students celebrate their graduation with CCAM’s Bruce Sobczak (center) and their Fort Lee program managers (in uniform). Photo courtesy of CCAM.

McKee Foods Celebrates 25 Years in Virginia

Wednesday, 26 August 2015 16:14 by Info@YesVirginia.org
McKee Foods recently celebrated the 25th anniversary of its Stuarts Draft manufacturing facility in Augusta County, Va. McKee Foods is known for its Little Debbie® line of snack cakes. The family business has grown from a five-person bakery in the 1930’s to America’s No. 1 brand of snack cakes...

McKee Foods recently celebrated the 25th anniversary of its Stuarts Draft manufacturing facility in Augusta County, Va.

McKee Foods is known for its Little Debbie® line of snack cakes. The family business has grown from a five-person bakery in the 1930’s to America’s No. 1 brand of snack cakes.

The Stuarts Draft plant is one of the most advanced facilities in the baking industry. The company established the bakery in 1990 to produce oatmeal crème pies, honey buns and other bakery products.

The company’s most recent announcement in October 2014 included a $34 million investment and 54 new jobs to expand the facility.

McKee Foods employs more than 1,000 people and is the largest manufacturing employer in Augusta County. The company frequently credits the high productivity of its Virginia workforce as paramount to its success.

"We have found our Virginia workforce to be some of the most loyal and highly-skilled employees in the industry — and about 85 members of our Virginia workforce have been at the plant since it opened," said McKee Foods President and CEO Mike McKee.

In addition to a strong manufacturing workforce, Virginia provides McKee Foods with a strategic location, offering easy access to the company’s Northeastern and Canadian customers. Located in the beautiful Shenandoah Valley, the Stuarts Draft location offers McKee employees a high quality of life with close proximity to the Blue Ridge Parkway, Appalachian Trail and numerous national parks.

To learn why more than 580 leading food and beverage companies, like McKee Foods, have chosen to locate in Virginia, click here.

Representatives from McKee Foods, Augusta County and VEDP celebrate the company’s 25th anniversary in Stuarts Draft, Va. Photo courtesy of McKee Foods Corp.

Virginia Receives an “A” for Small Business Friendliness

Tuesday, 18 August 2015 14:39 by Info@YesVirginia.org
Virginia received an A for overall friendliness on Thumbtack.com’s fourth annual Small Business Friendliness Survey. Virginia was the highest ranked state in the Mid-Atlantic and top 10 nationwide. Nearby competitors Maryland received a D+ and North Carolina a B-...

Virginia received an A for overall friendliness on Thumbtack.com’s fourth annual Small Business Friendliness Survey. Virginia was the highest ranked state in the Mid-Atlantic and top 10 nationwide. Nearby competitors Maryland received a D+ and North Carolina a B-.

Thumbtack.com surveyed 17,633 small businesses across the U.S. with 36 questions to evaluate the friendliness of state and local policies toward small businesses on more than a dozen metrics.

Highlights for the Commonwealth include an A+ for ease of starting a business, licensing regulations and environmental factors.   

“Small business owners on Thumbtack have consistently told us that they welcome support from their governments but are frequently frustrated by unnecessary bureaucratic obstacles,” said Jon Lieber, chief economist of Thumbtack.com. “Virginia's policies that support entrepreneurs could provide a helpful guide as we fight a general decline in business startups nationwide.”

“There is an excellent climate for small business in Virginia,” commented a translator and professor in Roanoke. “It is a great place to start and run a business because the state offers support, networking, referral and community enthusiasm.”

Richmond was ranked the No. 3 friendliest city in the U.S. and received an A+.

The survey results once again illustrate that Virginia is a great place for entrepreneurs to start and grow a business. To learn more about the Commonwealth’s pro-business policies, strategic location, competitive operating costs, leading research institutions and highly educated workforce, click here.

Image courtesy of Thumbtack.com

Classes Commence at the Southern Virginia Higher Education Center’s IT Academy

Thursday, 13 August 2015 13:32 by Info@YesVirginia.org
Classes start this Monday, August 17, at the Southern Virginia Higher Education Center’s IT Academy. The IT Academy offers a fast track for students to gain the knowledge and credentials to quickly obtain employment in the technology sector...

Classes start this Monday, August 17, at the Southern Virginia Higher Education Center’s IT Academy.

The IT Academy offers a fast track for students to gain the knowledge and credentials to quickly obtain employment in the technology sector.

Seventeen students are enrolled in the first cohort, with classes scheduled Monday – Thursday evenings over a four month period. Afterwards, students can test for the Computing Technology Industry Association A+, Network+ and Server+ certifications. SVHEC is a member of the CompTIA Authorized Partner Program. 

Classes will take place in the newly renovated, 5,013-square-foot lab at SVHEC in South Boston, Va. The lab includes a data center, hardware repair center, computer-based classroom and conference area to closely approximate a real-world environment.

“We are seeing what I call a market correction in education with an increasing emphasis on students earning third-party credentials. The hands-on, intensive nature of the program allows students to quickly learn the skills they need to be successful in the workplace. Initiatives like the IT Academy are critical to closing the skills gap and preparing the region with skilled workers needed for jobs available right here, right now,” said Dr. Betty Adams, executive director of the SVHEC.

SVHEC and its partners initially designed the academy’s core curriculum around the three certifications and will develop advanced training based on needs and recommendations from major employers in the region. SVHEC worked closely with the Mid-Atlantic Broadband Cooperative, ATOS/Microsoft and HP to launch the academy.

The academy was announced in September 2014 after the Virginia Tobacco Indemnification & Community Revitalization Commission approved grant funding. Governor McAuliffe gave the keynote address at the ribbon-cutting ceremony this June.

To learn more about the program or sign up for the next cohort in June, visit http://www.svhec.org/ita.

The SVHEC IT Academy is another example of the cutting-edge training programs available across the Commonwealth. To learn how Virginia’s workforce can be the advantage for your business, click here.

Governor McAuliffe, Secretary Maurice Jones and SVHEC Executive Director Dr. Betty Adams join members of SVHEC and local officials at the IT Academy ribbon-cutting ceremony in June. Photo courtesy of SVHEC/Drew Morris.

VEDP’s Dan Gundersen to Speak at White House Forum on Economic Development

Wednesday, 29 July 2015 16:00 by Info@YesVirginia.org
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U.S. Chamber of Commerce Ranks Virginia a Top State for Performance, Innovation and Talent

Monday, 6 May 2013 17:18 by Info@YesVirginia.org
In its fourth annual Enterprising States study, the U.S. Chamber of Commerce gave Virginia top marks in three out of six categories. Virginia was ranked No. 3 in Overall Innovation and Entrepreneurship, No. 5 in Overall Performance, and No. 5 in Overall Talent Pipeline...

In its fourth annual Enterprising States study, the U.S. Chamber of Commerce gave Virginia top marks in three out of six categories. Virginia was ranked No. 3 in Overall Innovation and Entrepreneurship, No. 5 in Overall Performance, and No. 5 in Overall Talent Pipeline.

This year’s theme, Getting Down to Small Business, focused on the importance of small businesses to lead the economic recovery, and looked at how states can implement policies to support entrepreneurs.

The study noted the importance of accelerator initiatives, economic gardening activities, business plan competitions, workforce development curricula and international trade programs—all of which Virginia does. Governor McDonnell’s 2012 Year of the Entrepreneur initiative and Virginia’s Business One Stop program received special recognition in the report.

Virginia was able to obtain a No. 3 ranking in Overall Innovation and Entrepreneurship due to its leadership in science and technology. According to the study, Virginia is the No. 1 state in STEM job concentration and has the No. 1 share of high-tech businesses.

The Commonwealth’s high standard of living and No.1 ranking in adjusted median family income helped Virginia to achieve a Top 5 spot in Overall Performance.

The report also noted Virginia’s well-educated workforce, including strong high school advanced placement scores, educational attainment, and higher education efficiency—all contributors to Virginia’s success in obtaining a Top 5 ranking in Overall Talent Pipeline.

These top rankings confirm Virginia’s position as a leading place for small businesses and entrepreneurs. The Commonwealth recently received an “A” for its small business friendliness from The Kauffman Foundation and Thumbtack.com.

With March unemployment at 5.3 percent, the lowest number since December 2008, the Commonwealth’s focus on small business and job creation is yielding positive results. To learn why Virginia continues to be a great place to start a business, click here.

Governor McDonnell’s Asia Marketing Mission Yields Positive Results

Tuesday, 30 April 2013 16:35 by Info@YesVirginia.org
This April, Governor McDonnell led an economic development marketing mission to California and Asia along with members of his cabinet, VEDP, Virginia Tourism Corp., Virginia Port Authority and Virginia International Terminals, and the Virginia Department of Agriculture and Consumer Services...

This April, Governor McDonnell led an economic development marketing mission to California and Asia along with members of his cabinet, VEDP, Virginia Tourism Corp., Virginia Port Authority and Virginia International Terminals, and the Virginia Department of Agriculture and Consumer Services.

The 16-day mission included meetings with companies in California looking to expand on the East Coast, as well as meetings with companies in China and Japan to discuss potential investment in the Commonwealth and trade opportunities with Virginia companies.

The trip has already yielded positive news, including announcements for two Virginia companies—Hamilton Beach Brands, Inc. and JTI Leaf Services.

Hamilton Beach will soon be expanding sales of its household electric appliances in China. On April 22, Governor McDonnell attended the signing of a contract between Chinese distributor Yingli and Yihaodian, the fastest-growing integrated ecommerce company, to sell Hamilton Beach products in China.

Hamilton Beach is a current participant in VEDP’s award-winning Virginia Leaders in Export Trade (VALET) program. The program helps established Virginia companies increase international sales.

On April 23, JTI Leaf Services announced a $7.5 million investment to upgrade equipment at its facility in Danville, Va. Governor McDonnell met with officials from parent company Japan Tobacco while in Tokyo. Southern Virginia was selected for its rich history in tobacco production which includes an experienced workforce to support the industry.

Governor-led marketing missions provide a unique opportunity to promote Virginia’s pro-business story on the international stage, and the Governor’s presence can open doors at the highest levels to build relationships that win business for the Commonwealth.

To learn more about Virginia’s business strengths and why the Commonwealth remains the location of choice for growing global companies, click here.

Governor McDonnell (center) attends the signing of a contract between Yingli and Yihaodian. Company officials (left to right) include: David Garibay, Legal Representative and General Manager, VP China Operations, Hamilton Beach Brands; Yuling Mao, General Manager of Yingli Electronics Technology Co., Ltd., Hamilton Beach Distributor in China; Junling Liu, CEO of Yihaodian; Wilber Wei, Vice President, Consumer Electronics Department of Yihaodian; and Dr. Gang Yu, Chairman of Yihaodian.

Orbital Sciences Completes First Launch of Antares Rocket from Virginia

Monday, 29 April 2013 16:25 by Info@YesVirginia.org
Last week, Orbital Sciences completed the first launch of its Antares rocket from the Mid-Atlantic Regional Spaceport (MARS) Pad 0A at NASA’s Wallops Flight Facility on the Eastern Shore of Virginia...

Last week, Orbital Sciences completed the first launch of its Antares rocket from the Mid-Atlantic Regional Spaceport (MARS) Pad 0A at NASA’s Wallops Flight Facility on the Eastern Shore of Virginia.

This first launch is a positive outcome of the public-private partnership between Orbital Sciences and the Virginia Commercial Space Flight Authority (VCSFA). The two have partnered since 2008 to develop and improve Pad 0A, the liquid-fuel-capable launch facility at MARS.

As a test flight, the purpose of this mission was to launch the Antares rocket and deliver a payload similar in mass to the Cygnus spacecraft into the Earth’s orbit. In addition, the mission also launched three smartphones into orbit to test them for use as satellites.

The test flight is the first of 10 Antares missions scheduled from MARS. Orbital Sciences will next perform a demonstration mission, followed by eight resupply missions, delivering cargo to the International Space Station.

As part of the new era of space exploration in the U.S., NASA is increasingly relying on corporate partners through its Commercial Orbital Transportation Services program. In December 2008, NASA awarded Orbital Sciences a $1.9 billion Commercial Resupply Services contract to complete the eight resupply missions.

Through MARS, Virginia offers one of only four commercial sites authorized by the FAA for orbital space launches. MARS provides safer and lower cost access to space with an ideal trajectory for earth orbit insertion.

Virginia’s strategic location, high-tech workforce, and strong business environment continue to attract the aerospace industry. To learn why more than 230 aerospace companies call Virginia home, click here.

A view of the first Antares rocket launch from MARS at NASA's Wallops Flight Facility in Virginia, courtesy of the Virginia Commercial Space Flight Authority.

Getting to Know: New River Valley

Thursday, 1 September 2016 16:30 by Info@YesVirginia.org

Throughout the year, VEDP embarks on regional familiarization trips, or FAM tours. In August, Charlie Jewell of the New River Valley Alliance lead a small group from VEDP on a tour around the New River Valley (NRV), which included 20 visits to local businesses.

The NRV covers more than 200 square miles and is home to Giles County, Pulaski County, Floyd County, Montgomery County, the City of Radford and Towns of Blacksburg and Christiansburg. With a growing population of 183,000, the NRV has an incredibly diverse and robust economy for its size.

In 2015, the region had the second highest job growth rate in Virginia, and this year, Area Development Magazine listed the NRV as having the fourth best workforce in the nation. The Valley is also a constant recipient of quality of life accolades thanks to the area’s beautiful mountainous setting and charming small town atmosphere. The NRV is also bolstered by their esteemed universities, including Virginia Tech and Radford, in addition to the New River Valley Community College.

On the tour, VEDP visited a wide array of business including Red Sun Farms, Jackson Park Inn, Floyd Commerce Park, Rackspace, Virginia Tech’s Corporate Research Center and the Riverbend Facility.

To learn more about Virginia’s wide variety of communities, click here.


Members from VEDP tour available building space in the New River Valley.

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Virginia’s Woodworking Industry Provides Solid Foundation

Friday, 26 August 2016 14:31 by Info@YesVirginia.org

This week, VEDP is attending the International Woodworking Fair in Atlanta, Georgia. We had the opportunity to partner with our state’s Department of Agriculture and Consumer Services and Department of Forestry to promote Virginia and its forest products, emphasizing the importance of the industry in the Commonwealth.

More than 31,000 people were employed by over 900 companies in Virginia’s wood products industry in 2015, which had a direct economic output of $10.3 billion and supported an additional output of $7.1 billion.

Virginia’s strategic mid-Atlantic location and superior transportation network provide access to 43 percent of the U.S. population located within a one-day (10 hour) drive. These assets combined with access to the Port of Virginia and a direct connection to over 100 foreign ports make an ideal location for wood industry companies.

Virginia’s higher education system provides education and training programs to bolster the Commonwealth’s workforce and therefore Virginia businesses. Virginia Tech’s Department of Forest Resources and Environmental Conservation is home to the following research centers: Conservation Management Institute, Center for Geospatial Information Technology and Virginia Water Resources Research Center. Virginia State University partners with Virginia Tech to run the Virginia Cooperative Extension to offer programs such as the Virginia Forest Landowner Education Program and the Virginia SHARP Logger Program. Blue Ridge Community College has a Die Cutting and Packaging program to generate skilled technicians for the paperboard packaging industry.

In the past decade, wood products companies in Virginia have announced projects worth $3.8 billion in pledged investment and more than 10,100 pledged jobs. To learn why companies choose Virginia click here.

VEDP, VDACS and VA Department of Forestry provide large Virginia presence at IWF 2016.

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Foreign Direct Investment Makes Massive Job Impact on Virginia

Thursday, 23 June 2016 09:48 by Info@YesVirginia.org

This week, VEDP attended the SelectUSA Investment Summit, a high-profile event in Washington, D.C. dedicated to promoting foreign direct investment (FDI) in the United States. We had the opportunity to connect with companies all over the world to discuss the benefits of doing business in Virginia.

Governor Terry McAuliffe hosted a Virginia reception to showcase the Commonwealth’s assets and participated in a workforce development panel during the conference.

Global investment supports nearly 487,000 jobs in Virginia. These direct FDI and related supply chain jobs earn higher compensation than the overall state average.

During SelectUSA 2015, VEDP met ELDOR Corporation for the first time. Following the Summit, Governor McAuliffe traveled to ELDOR’s headquarters in Italy to meet with company leadership. Less than one year after first meeting at SelectUSA, ELDOR announced their plans to invest $75 million and create 350 new jobs at their North American regional headquarters in Botetourt County.

More than 700 internationally-owned companies call Virginia home, including Canon, Stihl and Rolls-Royce. Cost-effective operations, pro-business values, global logistics assets and easy access to the U.S. market are just a few of the unique resources that allow businesses to prosper here.

From 2009 to 2014, international companies announced more than 15,000 new jobs and $4.6 billion investment in the Commonwealth. To learn why companies choose Virginia for internal investment, click here.


Governor McAuliffe
participated in a workforce development panel during SelectUSA.

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Sumitomo Machinery Corporation Celebrates 50 Years in North America

Friday, 3 June 2016 11:40 by Info@YesVirginia.org

Sumitomo Machinery Corporation of America (SMCA) is celebrating the 50th anniversary of its North American headquarters, located in Chesapeake, Virginia.

Sumitomo Machinery Corporation of America is a subsidiary of Sumitomo Heavy Industries, one of the largest manufacturers of machinery in Japan and the global leader in power transmission knowledge and innovation. SMCA is the premiere power transmission and control solution provider and has customers across the U.S. and globally.

In 1987, Sumitomo relocated to Chesapeake from New Jersey and constructed a new manufacturing facility for the production of its cyclo drive technologies, speed reducers, speed variators, motors and related industrial gears.

Sumitomo has experienced consistent growth since joining the Commonwealth. In 2009, SMCA announced its first Engineering and Service Center would open in Chesapeake, and in 2012, they shared plans for the first phase of a three year investment strategy to transition their 250,000-square-foot facility from an assembly and distribution center to an assembly and manufacturing facility. 

In August 2013, the company announced a definitive merger agreement with Hansen Industrial Transmissions Inc., a leading provider of large size industrial gear drives, which operates at the HNA facility in Verona, Virginia.

Since locating to Virginia, Sumitomo has invested over $60 million in the Commonwealth and has 264 employees in Chesapeake, Suffolk and Verona.

Virginia’s strategic central location on the U.S. East Coast and access to the Port of Virginia has made an ideal home for Sumitomo.

To learn why more than 5,500 manufacturing companies like Sumitomo have chosen to locate in Virginia, click here.


Mayor of Chesapeake Alan Krasnoff and Secretary of Commerce and Trade Maurice Jones recognize Sumitomo leadership during the anniversary event.

Georgia Pacific’s Big Island Mill Celebrates 125 Years in Virginia

Thursday, 26 May 2016 13:53 by Info@YesVirginia.org

Virginia is celebrating Business Appreciation Month by showcasing Georgia Pacific and the 125th anniversary of its Big Island paper mill in Bedford County, Virginia.

Georgia Pacific is one of the world’s leading manufacturers and distributors of tissue, pulp, paper, packaging, building products and related chemicals. Located just north of Lynchburg on the James River, Big Island mill is one of four Georgia Pacific locations in Virginia. The other facilities are located in Gladys, Emporia and Ridgeway.

The Big Island mill has been in continuous operation since 1891, when the first roll of paper was produced. The mill has faced ownership changes, fire, floods, and machinery and technological shifts during the past 125 years.

The paper mill’s most recent announcement in 2015 included a $50 million investment to improve reliability and environmental performance and upgrade technology.

To mark the mill’s 125 years of continual operation, Georgia-Pacific has launched a year-long commemoration throughout 2016 to honor the mill’s history, celebrate generations of employees and to thank the community for its enduring support.

The Big Island facility employs about 330 people and is Bedford County’s oldest business. The company credits its success to the community, which helped sustain and support Big Island and generations of families who continue to work at the mill for more than a century.

In addition to a strong manufacturing workforce, Virginia provides Georgia Pacific with a strategic location, offering easy access to the company’s customers. Located on the upper James River, the Big Island location offers employees a high quality of life with close proximity to the Blue Ridge Mountains, scenic hiking and biking trails, and numerous national parks.

As we celebrate Virginia Business Appreciation month, Georgia Pacific’s Big Island paper mill serves as a great example of how Virginia can offer long-term prosperity. To learn why companies like Georgia Pacific call Virginia home, click here.

An undated photo of a maintenance crew working at the Big Island paper mill.

Distribution Companies Deliver Big Investment to Virginia

Wednesday, 18 May 2016 14:53 by Info@YesVirginia.org

This week, for Business Appreciation Month, we’re highlighting Virginia’s distribution industry and celebrating the positive impact these companies bring to the Commonwealth.

Virginia's businesses provide services and manufactured goods to customers throughout the world. Our distribution base remains strong and continues to grow with companies like The Home Depot, Best Buy, Target, Wal-Mart, Ace Hardware and Amazon.com all delivering goods from the Commonwealth.

Increasingly, retailers and distributors are taking advantage of Virginia's proximity to Eastern U.S. and Midwest markets. Millions of square feet of new warehousing space have been added at new distribution centers around the state.

In the past decade, 365 global logistics industry projects have announced capital investment of more than $1.8 billion and the creation of over 16,500 new jobs.

The Commonwealth is within a one-day drive time of approximately 43 percent of the U.S. population and over 186,000 manufacturing establishments. With our central East Coast location, Virginia is an obvious choice for many companies looking to establish or expand distribution centers.

In 2012, The Vitamin Shoppe announced a $39.4 million investment to establish a distribution center and create 174 new jobs in Hanover County. The 312,000 square-foot facility has become the company’s flagship distribution center featuring a state-of-the-art conveyor and picking and packing systems to move products from storage shelves throughout the facility to shipping bays.

McLane Foodservice Distribution, located in Prince William County, services restaurants in the Mid-Atlantic region. With two expansions in the last 10 years, the 223,000 square foot facility has three different temperature controlled areas—freezer, refrigerated and dry—in addition to employing more than 160 people.

As part of Virginia Business Appreciation Month, the distribution and global logistics industry is a great example of success due to the Commonwealth’s premier location and business environment. To learn more about the distribution industry in Virginia, click here.


The Vitamin Shoppe distribution center in Hanover County, Virginia.

Cybersecurity Industry Surges Ahead in Virginia

Thursday, 12 May 2016 10:46 by Info@YesVirginia.org

It’s Business Appreciation Month in Virginia, and we’re celebrating by highlighting one of the Commonwealth’s top industries, cybersecurity.

With its close proximity to Washington, D.C., Virginia is part of the nation’s Cyber Capital. As the hub of leading-edge intelligence technology, Virginia serves as a fertile ground for the growing cybersecurity industry. Key federal agencies involved with cybersecurity along with the nation’s leading cyber companies, such as Booz Allen Hamilton, General Dynamics, Lockheed Martin and Northrop Grumman Corp. are located in Virginia.

The Commonwealth is at the center of the IT industry, with 70 percent of the world’s internet traffic passing through Virginia.

On the heels of California, Virginia has the second highest concentration of technology workers in the nation, with nearly 10 percent of the state’s workforce employed by the information technology sector, according to Cyberstates 2015. As a result, Virginia is home to the headquarters of nearly 40 of the Washington Technology Top 100 federal contracting companies.

Reston’s Carahsoft is one of the most successful, fastest growing technology solution providers in the U.S. Founded in 2004, Carahsoft helps government agencies find the best possible technology solution at the best possible value.

NCS Technologies, headquartered in Gainesville, designs, manufactures, distributes and supports its products from a single location for clients including federal agencies, healthcare and schools. Since its founding in 1996, NCS Technologies has become a leading domestic producer of computers, servers and storage systems.

As part of Virginia Business Appreciation Month, cybersecurity represents the high-growth and technological innovation that is alive and well in the Commonwealth. To learn why these companies have found success in Virginia, click here.

 

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Virginia Economic Development Partnership is the Best State for Business

The Virginia Economic Development Partnership (VEDP), a state authority created by the Virginia General Assembly to better serve those seeking a prime business location and increased trade opportunities, provides confidential site selection and international trade services. VEDP's mission: To enhance the quality of life and raise the standard of living for all Virginians, in collaboration with Virginia communities, through aggressive business recruitment, expansion assistance, and trade development, thereby expanding the tax base and creating higher-income employment opportunities.

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