Tessy Plastics - Second Injection Molding Company to Expand in Virginia in 45 Days

Tuesday, 7 February 2012 09:50 by Info@YesVirginia.org
Virginia is a great place for plastics companies. With Rubbermaid Commercial Products announcing an expansion in December, Tessy Plastic’s January announcement is a strong indicator that injection molding companies are on the rise in the Commonwealth...

Virginia is a great place for plastics companies. With Rubbermaid Commercial Products announcing an expansion in December, Tessy Plastic’s January announcement is a strong indicator that injection molding companies are on the rise in the Commonwealth.

Operating in Lynchburg, Va., since 1997, Tessy Plastics plans to invest $4.8 million to expand its current 60,000-square-foot facility by nearly 30,000 square feet. The new space will be used for additional high-technology injection molding, robotics and assembly equipment, primarily serving the company’s growing medical sector. The project will create 60 new jobs, adding to the company’s 143-person Virginia workforce.

Tessy Plastics selected Lynchburg, Va., due to its proximity to the company’s customer base and confidence in the local workforce. “We at Tessy Plastics have an excellent, hardworking and honest workforce. With our great employees and the partnership with the city of Lynchburg and the state of Virginia, I look forward to investing in our future to make us a stronger, more efficient company which will help us stay competitive in a global market,” said Tessy Plastics President Ken Beck.

Virginia is able to attract leading plastics companies due to its strategic East Coast location, world-class transportation system, competitive operating costs and its highly skilled workforce, referenced above.  Virginia’s higher education system offers a number of training programs to meet the needs of the plastics industry. Those programs include the High Performance Manufacturing Technician certification offered through the Virginia Community College System, the Certificate in Polymer Manufacturing Processes at Danville Community College, the Advanced Manufacturing and Packaging Technology curriculum at Dabney S. Lancaster Community College, and the Center for High Performance Manufacturing and the Macromolecules and Interfaces Institute, both at Virginia Tech.

With more than 200 plastics companies operating in the Commonwealth, Virginia actively participates in industry events, such as the Plastics News Executive Forum and the upcoming National Plastics Expo in Orlando, Fl., from April 2-5. Come visit VEDP at booth #174 to learn more about Virginia’s strengths in the plastics industry.

U.S. Secretary of Commerce Visits Virginia Company Paramount Industrial Cos.

Monday, 6 February 2012 09:32 by Info@YesVirginia.org

U.S. Secretary of Commerce John Bryson recently toured the factory floor of Paramount Industrial Cos., located in Norfolk, Va. The visit came a day after President Obama’s State of the Union address, in which the President emphasized the importance of building the U.S. manufacturing base and keeping these jobs stateside.

Paramount Industrial is the first national mattress manufacturer to be Made in USA Certified®. Established during the Great Depression, Paramount Industrial is a third-generation, family-owned business that has been part of the Norfolk community since 1933. The company’s mattress line includes: A.H. Beard, Back Performance, Boutique Hotel, GoodNite Kids, Heavy Duty, Nature’s Spa, Quilt O PEDIC and Sleep for Success.

With mattress sales correlated to the housing market, Paramount Industrial has investigated ways to expand into international markets. Working with the Virginia Economic Development Partnership (VEDP), the company has visited China on multiple occasions to pursue sales opportunities. This past July, Paramount Industrial was accepted into VEDP’s Virginia Leaders in Export Trade (VALET) program as part of its 20th class. The award-winning VALET program assists established Virginia companies with their global marketing efforts through a two-year business acceleration program. Through marketing trips and introductions to a team of international service providers, companies experience an 88 percent increase in international sales, on average.

To learn more about VEDP’s programs helping Virginia companies to export across the globe click here. Or if you’re an international company interested in locating in Virginia click here.

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CCAM Receives 2012 Manufacturing Leadership 100 Award

Friday, 27 January 2012 14:53 by Info@YesVirginia.org
Virginia’s Commonwealth Center for Advanced Manufacturing (CCAM) recently won a 2012 Manufacturing Leadership 100 Award (ML100) in the category of New Workforce. The awards are presented by Manufacturing Executive, a division of Thomas Publishing LLC of New York.

Virginia’s Commonwealth Center for Advanced Manufacturing (CCAM) recently won a 2012 Manufacturing Leadership 100 Award (ML100) in the category of New Workforce. The awards are presented by Manufacturing Executive, a division of Thomas Publishing LLC of New York.

Created eight years ago, the ML100 Awards recognize excellence, innovation and transformational projects in the field of manufacturing. The New Workforce category seeks to honor companies that “have come up with innovative ways to bring new workers with critically needed new skills into the workplace, and to allow them to productively collaborate with and learn from existing knowledge experts. Winning projects, for example, will involve education and training, knowledge management and transfer, and collaboration with educational institutions,” according to Manufacturing Executive.

The award criteria is a near perfect description of CCAM, which brings together leading manufacturing companies and top educational institutions to collaborate and develop new technologies that result in a more efficient manufacturing process. Canon Virginia Inc., Chromalloy, Newport News Shipbuilding, Rolls-Royce, Sandvik Coromant and Siemens are a few of the market leading companies that participate in the program with the University of Virginia, Virginia Tech and Virginia State University. CCAM’s research efforts focus on developing solutions for surface engineering and manufacturing systems. Research is already underway in labs at UVA and Virginia Tech while CCAM's 60,000 square-foot, high-technology facility is expected to open in September 2012 in Prince George County, Va.

To learn more about Virginia’s internationally recognized R&D facilities and why companies choose Virginia for its access to cutting-edge research and technology, click here.

Virginia’s Community College System Receives Innovation in Government Award

Thursday, 19 January 2012 15:29 by Info@YesVirginia.org
Virginia’s Community College System was recently awarded the Innovation in Government award for the development of an online career and educational tool called the Virginia Education Wizard.

Virginia’s Community College System was recently awarded the Innovation in Government award for the development of an online career and educational tool called the Virginia Education Wizard. The award was given by the L. Douglas Wilder School of Government and Public Affairs at Virginia Commonwealth University as part of its Excellence in Virginia Government Awards, recognizing outstanding contributions that have a significant impact on Virginia’s citizens.

The Virginia Education Wizard, located at www.vawizard.org, allows users to narrow down their choice of career by taking a number of interest, value and skill assessment tests. It then provides information on colleges offering programs in the targeted subject area. The site also offers students and parents information on planning for college, including test preparation and financial aid. This is all accomplished with the assistance of an online guide, named Ginny, who walks users through each step.

Developed by Chmura Economics & Analytics in tandem with IT professionals at Virginia’s Community Colleges, the website pulls in real-time market data from Chmura Economics & Analytics. Since its launch in March 2009, more than 314,000 individual accounts have been created. The site also topped one million visits in August 2011. The tool is successfully being used not only by high school students, but also by career coaches and guidance counselors, as it provides one location with everything needed for the college planning process.

The success of the Virginia Education Wizard illustrates the strength of Virginia’s excellent education system, preparing a highly skilled workforce to support a wide variety of industry needs. Virginia’s Community College System was developed more than 40 years ago and provides occupational and technical training programs through its 23 schools across 40 campuses. With nearly half a million students taking classes each year, companies located in Virginia have access to a steady stream of highly trained employees.

To learn how Virginia’s quality workforce can support your industry click here.

Virginia’s Region 2000 Wins Public-Private Partnership Award

Tuesday, 17 January 2012 15:47 by Info@YesVirginia.org
Region 2000, representing the 2,000 square miles surrounding Lynchburg, Va., received the Public-Private Partnership award for its work in establishing a collaborative environment between leading businesses and educational institutions to foster regional economic development.

Region 2000, representing the 2,000 square miles surrounding Lynchburg, Va., received the Public-Private Partnership award for its work in establishing a collaborative environment between leading businesses and educational institutions to foster regional economic development. The award is part of the Excellence in Virginia Government Awards given by the L. Douglas Wilder School of Government and Public Affairs at Virginia Commonwealth University.

Region 2000 partners with six organizations to provide economic development, regional planning, workforce training and networking opportunities for the Lynchburg area. One of its newest organizations is the Center for Advanced Engineering and Research (CAER), a R&D center established to provide local companies with access to university research to speed the development of innovative products and technologies.

The Center for Advanced Engineering and Research opened in August 2011 and currently comprises three facilities. First, the CAER Research and Education Facility, located at New London Business and Technology Park in Bedford County, includes a nuclear power plant room simulator, three-dimensional simulation computing capability, research labs and a cognitive radio test room. Second, CAER operates a Wireless Test Facility in conjunction with Liberty University. This Open Area Test Site, originally developed by Ericsson, is designed to conduct Electro Magnetic compatibility testing. Third, the Wireless Sensor Lab operates as a partnership between CAER, the University of Virginia and Central Virginia Community College. This Multiscale Agile Systems Technology Lab supports the research of motes and other miniature electronic devices.

The CAER is a prime example of the many public-private partnerships established across Virginia to expedite innovation in the technology, advanced manufacturing and energy sectors. To learn more about Virginia’s key business sectors click here.

Below  - Governor L. Douglas Wilder congratulates Region 2000 Economic Development Council Director Bryan David.

Virginia – A Leader in High-Tech

Wednesday, 11 January 2012 15:37 by Info@YesVirginia.org
Virginia adds to its dominance in the high-tech sector by winning the new headquarters location for Acentia, a premier provider of technology and management solutions for both federal and commercial customers, which has moved from Maryland to its new home in Fairfax County. The project includes a $3.1 million investment and the creation of 60 new jobs for the Commonwealth.

Virginia adds to its dominance in the high-tech sector by winning the new headquarters location for Acentia, a premier provider of technology and management solutions for both federal and commercial customers, which has moved from Maryland to its new home in Fairfax County. The project includes a $3.1 million investment and the creation of 60 new jobs for the Commonwealth.

While high-tech is often associated with the Silicon Valley, Virginia actually has the highest concentration of high-tech companies in the country. That’s according to the recently-released Enterprising States 2011: Recovery and Renewal for the 21st Century prepared by Praxis Strategy Group and Joel Kotkin for the U.S. Chamber of Commerce. In 2010 there were 12,999 high-tech firms in Virginia in industries such as Computer Systems Design Services, Engineering Services, Semiconductor and Related Device Manufacturing and Software Publishing. Over the last five years, Virginia’s high-tech sector has grown by 2,305 firms.

In addition to having the highest concentration of high-tech firms, Virginia also has the nation’s highest concentration of high-tech workers, according to the trade publication Cyberstates 2011. High-tech sector jobs grew to 277,575, up 6.7 percent in the Commonwealth from 2005 to 2010. Even more impressive, during this same time period high-tech employment fell by 6 percent nationwide.

Possessing a highly skilled IT workforce was an important part of winning the Acentia headquarters location for Virginia. According to Acentia CEO Todd Stottlemyer, “Fairfax County gives us access to the highly-skilled technical staff and management consultants we need to continue to provide essential services to our customers. As a company with very aggressive growth plans, we are excited about the possibilities that moving our headquarters to Virginia presents to our customers and the entire Acentia team. Our new space should be a springboard to a great 2012 for Acentia.”

To learn why Acentia and other high-tech companies such as CSC, General Dynamics and Northrop Grumman have all chosen Virginia, click here.

To learn why companies have prospered in the Commonwealth for more than 400 years, click here.

World’s Largest Credit Union Expands Virginia Footprint

Monday, 13 August 2012 15:53 by Info@YesVirginia.org
Navy Federal Credit Union recently announced plans to expand its member service operation in Winchester, Va. The multi-million dollar investment will bring 400 new jobs to Frederick County...

Navy Federal Credit Union recently announced plans to expand its member service operation in Winchester, Va. The multi-million dollar investment will bring 400 new jobs to Frederick County.

Virginia successfully competed against Florida, as Navy Federal elected to construct an additional building on its Winchester campus.

Headquartered in Fairfax County, Va., Navy Federal’s additional investment in nearby Frederick County is further testament to the success the company has found in Virginia. Navy Federal has operated its member service center in Frederick County for six years, growing to more than 500 employees at the existing facility.

As the world’s largest credit union with $50 billion in assets, Navy Federal has successfully grown from seven members in 1933 to four million members today. The company serves Department of Defense personnel and their families through a full range of financial products and services.

Member service operations are dependent upon skilled employees to provide excellent customer services critical to their success. The company’s continued growth in Virginia illustrates the high quality and motivation of its premier workforce.

As Navy Federal President and CEO Cutler Dawson said, “We have tremendous team members that work at our Winchester facility. This expansion will allow us to bring aboard even more in the future.”

To learn more about Virginia’s skilled workforce and why companies keep coming to the Commonwealth for its pro-business environment, click here.

Cadence Inc. Celebrates Growth in Virginia—Expansion is Ahead of Schedule

Friday, 10 August 2012 13:57 by Info@YesVirginia.org
Secretary Cheng visited Cadence headquarters in Staunton, Va., to announce the company was well ahead of schedule in both job creation and capital investment for the expansion announced in May 2011...

Secretary Cheng visited Cadence headquarters in Staunton, Va., to announce the company was well ahead of schedule in both job creation and capital investment for the expansion announced in May 2011.

In just over a year, Cadence has filled 55 of the 65 jobs the company announced it would create over a three-year period, and the company expects to create 50 additional jobs by the end of the year. Cadence has already put to work $11 million of the $15 million the company announced it would invest over the same three-year period.

A medical instrument components manufacturer, Cadence’s impressive growth is being fueled by strong demand in the medical device industry. The company manufactures high-performance, custom-made cutting blades used in in surgical devices and scientific applications. As a premier contract manufacturer, the company is a sought-after partner for its manufacturing knowledge and high performance solutions.

With options as far away as Costa Rica, Cadence decided to expand at its existing headquarters location at Green Hills Industry and Technology Park in Staunton, Va. Founded in the Commonwealth in 1985, the company has thrived due to Virginia’s pro-business climate, competitive operating costs, and highly-skilled manufacturing workforce.

“Our impressive job creation story is really a story about great employees doing amazing things that open the door for more employees to join our team,” said Cadence CEO Peter Harris. “So as Virginians and Americans, we should all thank the hard work of many individual Cadence employees for their success in creating jobs during this period of economic challenge for the country.”

To learn why manufacturing companies like Cadence continue to find success in the Commonwealth, investing more than $13.7 billion over the last 10 years, click here.

Secretary Cheng congratulates Cadence employees on their tremendous growth at company headquarters in Staunton, Va.

Morooka America Establishes its First U.S. Track Carrier Manufacturing Plant

Tuesday, 7 August 2012 12:45 by Info@YesVirginia.org
Following Governor McDonnell’s announcement in July, last week Morooka America celebrated the opening of its first U.S. track carrier manufacturing plant in Hanover County. The project will bring 50 new jobs to the Central Virginia region...

Following Governor McDonnell’s announcement in July, last week Morooka America celebrated the opening of its first U.S. track carrier manufacturing plant in Hanover County. The project will bring 50 new jobs to the Central Virginia region.

Morooka America will operate under a license agreement with Japan-based Morooka Company Ltd., a leading manufacturer of rubber track carriers used in the construction, pipeline installation and agricultural industries. Using its specialized rubber tracks, the Morooka Carrier offers the additional traction needed to transport heavy materials through challenging terrain.

With the U.S. as the leading export destination for Morooka products, the Virginia facility will allow the company to optimize its supply chain and more efficiently serve and grow its North and South American markets. 

Virginia offers a strategic location for both the manufacturing and distribution of Morooka’s products. With nearly 240,000 workers employed in the manufacturing industry, Virginia’s workforce stands ready to support the industry’s needs.

In addition, Virginia’s central East Coast location and premier logistics network offer easy access to U.S. and international markets. With 14 railroads, six major interstate highways, nine commercial airports, the international Port of Virginia, and the Virginia Inland Port, the Commonwealth’s substantial logistics infrastructure is a major advantage for companies.

To learn why global manufacturing companies continue to establish operations in Virginia, investing more than $13.7 billion over the last 10 years, click here.

Secretary Cheng addresses the crowd at the Morooka America ribbon-cutting event in Hanover County, Va.

International Paper’s Franklin Mill Finds a New Tenant in Tak Investments

Thursday, 2 August 2012 10:10 by Info@YesVirginia.org
This week, Tak Investments Inc. announced it will invest $60 million and create 85 new jobs to establish a recycled tissue plant for its subsidiary, ST Tissue, in Isle of Wight County...

This week, Tak Investments Inc. announced it will invest $60 million and create 85 new jobs to establish a recycled tissue plant for its subsidiary, ST Tissue, in Isle of Wight County.

A win-win for the company and county, this project will repurpose a vacant portion of the International Paper mill in Franklin, Va., making use of machinery already in place.

This news comes within a month of International Paper’s announcement that it recommenced operations at its formerly-closed Franklin Mill. After closing the mill in 2009, International Paper upfit a portion of the mill to manufacture fluff pulp, bringing more than 200 new jobs to the region.

Location and existing infrastructure were key factors in Virginia’s favor, allowing the Commonwealth to successfully compete against Wisconsin. The Franklin Mill location allows the company to take advantage of an existing facility with paper-making machinery and a trained workforce already in place.

In addition, the location not only aligns with the company’s supply chain, but Virginia’s strategic East Coast location and premier transportation infrastructure will allow the company to capture additional market share. 

This project builds on the success Isle of Wight County has experienced on its way towards economic recovery. Recent announcements from Green Mountain Coffee Roasters and International Paper are expected to bring more than 1,000 jobs to the area.

To learn why leading manufacturers continue to select the Commonwealth, investing more than $13.8 billion from 2002 to 2010, click here.

Ace Hardware Celebrates Grand Opening of East Coast Import Center in Virginia

Tuesday, 31 July 2012 15:08 by Info@YesVirginia.org
Last Thursday, Ace Hardware held a ribbon-cutting ceremony to celebrate the grand opening of its East Coast import center at the Centerpoint Intermodal Center in Suffolk, Va...

Last Thursday, Ace Hardware held a ribbon-cutting ceremony to celebrate the grand opening of its East Coast import center at the Centerpoint Intermodal Center in Suffolk, Va.

The project, which includes a 336,000-square-foot facility, was announced last fall and is expected to bring a $14 million investment and 75 new jobs to the Hampton Roads region. 

The East Coast import center builds upon the company’s existing Virginia presence, which includes 275 employees at its regional distribution center in Prince George County, and many more Virginia employees at the 54 independently-owned stores located across the Commonwealth.

As Ace Hardware’s first and only import center on the East Coast, the facility will allow the company to optimize its supply chain to retail locations. It also validates the Hampton Roads region as a center of international trade.

Virginia was selected for its strategic location and premier transportation system, which includes access to the international Port of Virginia, one of the largest intermodal facilities on the East Coast and the only U.S. East Coast location able to handle post-Panamax vessels as first port of call. Virginia also offers 14 railroads, an inland port, six major interstate highways and nine commercial airports.

To learn more about Virginia’s burgeoning logistics industry and why companies have invested more than $1.6 billion in logistics projects across the Commonwealth over the last 10 years, click here.

Representatives from Ace Hardware Corporation, the City of Suffolk and the Commonwealth of Virginia celebrate the grand opening of the company’s new East Coast import center.

Renewable Energy Company Enviva Breaks Ground on Virginia Manufacturing Facility

Friday, 27 July 2012 15:01 by Info@YesVirginia.org
Lieutenant Governor Bill Bolling and Secretary Todd Haymore attended Enviva’s ground-breaking ceremony at the Southampton County Commerce and Logistics Center in Franklin, Va...

On Wednesday, Lieutenant Governor Bill Bolling and Secretary Todd Haymore attended Enviva’s ground-breaking ceremony at the Southampton County Commerce and Logistics Center in Franklin, Va.

Enviva began construction on its 454,000-metric-ton wood pellet manufacturing facility after announcing this project would bring a $75 million investment and 64 new jobs to Southampton County last November. The facility is expected to support more than 100 additional jobs through the company’s logging supply chain.

As a leading biomass fuel supplier, Enviva’s commitment to sustainable practices is evident in its location requirements. To minimize its carbon footprint, the company seeks strategic locations offering close proximity to both biomass sources as well as waterways and ports, for easy shipment to international customers.

Southeastern Virginia is uniquely positioned to meet the company’s needs on both counts. According to Enviva Chairman and CEO John Keppler, “Southampton County has all the elements essential to our success: a rich wood basket, a strong and seasoned timber industry, a skilled and experienced labor force, and is logistically advantaged to our Port of Chesapeake export terminal.”

This past New Year’s Eve, Enviva opened its deep water terminal at the Port of Chesapeake. The company selected Virginia’s Port of Chesapeake for its deep water capacity and ability to handle a variety of vessels. The company’s inaugural shipment consisted of 28,000 metric tons of wood pellets destined for Europe aboard the MV Daishin Maru.

With the Commonwealth's “all-of-the-above” approach to energy, this investment continues Virginia’s quest to lay claim to the title “Energy Capital of the East Coast.” From conventional fuel mining to renewable energy producers, Virginia provides energy companies with the resources for success.

To learn why energy companies have invested more than $4.6 billion in Virginia over the last ten years, click here.

Lieutenant Governor Bill Bolling and Enviva CEO John Keppler (center) join state, local and company officials at the Enviva ground-breaking ceremony in Franklin, Va.

The Institute for Advanced Learning and Research Hosts Launch of Virginia Polymer Coalition

Thursday, 26 July 2012 09:48 by Info@YesVirginia.org
On August 15, the Virginia Polymer Coalition will commence with its inaugural meeting at The Institute for Advanced Learning and Research (IALR) in Danville, Va.

On August 15, the Virginia Polymer Coalition will commence with its inaugural meeting at The Institute for Advanced Learning and Research (IALR) in Danville, Va.

Southern Virginia has seen a growing cluster of polymer technology and manufacturing companies, and a recently commissioned study from the Southside Business Technology Center confirms the need for better industry collaboration and research.

With rising raw materials costs, polymer manufacturers are looking for ways to manage costs as well as find better methods for product testing, materials analysis and recycling.

Sustainability is also a frequent topic in the industry, augmented by customer requests for biodegradable products. Increased interest in Biopolymers as a possible solution has led to the need for additional research in this field.

The Institute for Advanced Learning and Research is an ideal location for this industry hub, offering an existing polymer lab, onsite scientists, and a strong partnership with Virginia Tech faculty.

“Polymer manufacturers represent an important industry in Southern Virginia with products ranging from packaging, including tubes, tape, film and bags to fibre and tires,” said  IALR Executive Director Liam Leightley. “One way for the Virginia Polymer Coalition to support the cluster is for it to regularly host a network meeting for regional polymer companies to be able to meet, discuss and share their business challenges, R&D needs, best practices and industry solutions.” 

To learn more about The Institute for Advanced Learning and Research and Virginia’s broad selection of world-class research institutions, click on the highlighted links.

A view of The Institute for Advanced Learning and Research in Danville, Va.

International Paper Commences Manufacturing Operations at Franklin Mill

Wednesday, 18 July 2012 13:49 by Info@YesVirginia.org
International Paper recently announced it began manufacturing operations at its Franklin Mill in Isle of Wight County. In May 2011, Governor McDonnell announced the company’s plans to invest $83 million to repurpose a portion of its closed mill and create more than 200 new jobs in the region.

International Paper recently announced it began manufacturing operations at its Franklin Mill in Isle of Wight County. In May 2011, Governor McDonnell announced the company’s plans to invest $83 million to repurpose a portion of its closed mill and create more than 200 new jobs in the region.

After closing the paper mill in 2009, International Paper has upfit a portion of the plant to manufacture fluff pulp, a key component in absorbency products such as diapers and hygiene products. The company expects to produce 840 tons per day of high-quality fluff pulp once it ramps up to full production.

“This is a wonderful turnaround story for Isle of Wight County—to have some recovery of the jobs lost in 2009 and repurpose a facility is great news for the region,” said VEDP Managing Director Brent Sheffler.

The company’s familiarity with the assets of the region—including a strong wood basket supply chain and a skilled and dedicated advanced manufacturing workforce—helped Virginia win this project.

Logistics infrastructure was also a critical deciding factor, as the company expects to export a substantial amount of its product. Access to existing rail service and close proximity to the international Port of Virginia made the Franklin Mill the clear choice.

As the third largest global supplier of fluff pulp, this investment allows the company to expand its footprint in this growing market and continue its strong legacy in Virginia’s pro-business environment. 

With more than 6,000 manufacturing companies located in the Commonwealth, click here to learn why leading companies like International Paper continue to invest in Virginia.

Big R Bridge Announces First Virginia Location in Washington County

Friday, 13 July 2012 14:36 by Info@YesVirginia.org
On Tuesday, Lieutenant Governor Bill Bolling attended an event to announce that Big R Bridge, a national leader in developing engineered solutions in steel bridges, corrugated metal structures, retaining wall systems and corrugated pipe, will establish its first Virginia location in Washington County.

On Tuesday, Lieutenant Governor Bill Bolling attended an event to announce that Big R Bridge, a national leader in developing engineered solutions for steel bridges, corrugated metal structures, retaining wall systems and corrugated pipe, will establish its first Virginia location in Washington County.

The $1.9 million investment will be used to convert the former Lynchburg Steel Facility into a manufacturing operation for the company’s prefabricated bridge parts, bringing 32 new jobs to Southwest Virginia.

Big R Bridge has been supplying prefabricated bridges and custom engineered products for more than 40 years, handling more than 10,000 installations to date and creating more than 300 bridges each year.

The new facility in Washington County will allow the company to expand its U.S. footprint and more easily access East Coast markets. Virginia successfully competed against North Carolina for the project.

The Commonwealth was chosen for its strategic location and premier logistics network, offering easy access to Interstates 81 and 77. Virginia was also selected for its exceptional workforce with the advanced manufacturing skills needed to produce the company’s highly engineered solutions.

With names like DuPont, Honeywell, Owens & Minor, Merck and Rolls-Royce, Virginia continues to attract top tier manufacturing companies. To learn why more than 6,000 manufacturers call Virginia home, click here.

Virginia Delegate Landes Named BIO State Legislator of the Year

Wednesday, 11 July 2012 13:33 by Info@YesVirginia.org
The Biotechnology Industry Organization (BIO) honored Virginia Delegate R. Steven Landes as its State Legislator of the Year at the recent 2012 BIO International Convention in Boston, Mass.

The Biotechnology Industry Organization (BIO) honored Virginia Delegate R. Steven Landes as its State Legislator of the Year at the recent 2012 BIO International Convention in Boston, Mass.

Delegate Landes was recognized for his efforts in advancing the field of biotech and supporting legislation to make Virginia a top state to attract and retain life sciences businesses.

BIO is the world’s largest biotech organization and the BIO International Convention is the largest global event for the biotech industry with 15,000 attendees at its annual conference.

Delegate Landes was given the award in the Virginia Pavilion, a 1,500-square-foot space organized by VEDP. The Pavilion showcased Virginia’s universities, companies and local economic development groups in the Commonwealth’s major life science clusters: Northern Virginia, Hampton Roads, Charlottesville, Greater Richmond, and the I-81 Corridor.

With its central location in the Mid-Atlantic Life Science cluster and strong technology and life sciences workforce, Virginia’s biotech industry is on the rise. Top research institutions such as SRI International and the Howard Hughes Medical Institute, as well as leading companies, including Merck, Fareva, McKesson, Teva Pharmaceuticals, and Boehringer Ingelheim have all chosen to locate in the Commonwealth.

To learn more about Virginia’s growing life science industry and why the private sector has invested more than $1.9 billion over the last decade, click here.

Virginia Biotechnology Association Interim Executive Director Jeff Gallagher (left) and BIO Vice President, Alliance Development and State Government Relations Fritz Bittenbender (right) present Delegate Landes with the State Legislator of the Year award.

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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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Grow Internationally With a Helping Hand

Friday, 28 August 2009 11:23 by Info@YesVirginia.org

Operating a company has its challenges. Taking the leap to expand your business internationally can be downright daunting.

But it doesn’t have to be.

Since 2006, VEDP’s Global Network has helped nearly 200 Virginia companies navigate common international obstacles—language and cultural barriers and the like—and provide the services they need to set up shop overseas. The Network removes much of the risk by offering pre-screened, in-country consultants, who, in partnership with VEDP International Trade, deliver industry-specific market research. Recently, the Network expanded into 17 additional countries, including Bulgaria, Turkey, the Netherlands, Israel and South Africa, now providing in-country services in a total of 44 different countries.

Research available ranges from the best strategy for entering a particular market to information on distributors, competitors and potential clients. Once the company visits its target market, the Global Network provides a host of in-country services, including logistical support, matchmaking assistance and service provider contacts.

Nancy Cleveland of LC Technologies in Fairfax used the Global Network to find a reputable distributor in France.  LC Technologies has developed a unique technology that uses eye movement to control computers and monitor and record eye motion and related eye data. 

 “We really could not have found CIMIS [LC Technologies’ new distributor] in France without the help of VEDP’s Global Network,” Cleveland said. “It’s difficult to find good people in other countries, and VEDP has been invaluable in helping us locate CIMIS, a good match for our very specialized technology.”

During these difficult economic times, when U.S. sales are down for many Virginia businesses, it is vital that companies look beyond American borders for sales opportunities.  The Global Network provides a familiar, helping hand full of critical and timely information about opportunities in specific industries in 44 target markets. The services are free to Virginia companies up to $3,000 per fiscal year. For more information about VEDP’s Global Network, visit http://www.exportvirginia.org/.

Celebration Leads to Jobs in Martinsville

Friday, 14 August 2009 15:43 by Info@YesVirginia.org

The Martinsville-Henry County community has reason to celebrate. Monogram Food Solutions, LLC, a meat manufacturer out of Memphis, announced it will purchase the meat snack business of American Foods Group, LLC (also known as Knauss Foods), including the Martinsville production facility. The company plans to invest $3 million to expand production capacity at the Patriot Centre Industrial Park facility. The company has committed to investing every dollar it can in the local economy. More importantly, Monogram Food Solutions has agreed to keep all of the current employees and add 120 new jobs. www.YesVirginia.org

This announcement is like a breath of fresh air for a region that has been wrestling with a double-digit unemployment rate that’s more than twice the national average. Monogram Food Solutions’ average annual salary of about $28,000 is right in line with the region’s prevailing average wage, and 120 new jobs will provide a welcome opportunity for some of the 800+ folks who have been laid off since January 2008. About 50 people have already been hired. Another 70 should be employed by the end of the year.

The job requirements? “Energetic, passionate people who are not afraid of hard work,” was what the company was looking for, according to Ches Jackson, President of Monogram Meat Snacks. They shouldn’t be too hard to find in Martinsville.

 

Virginia Helps Companies Make Headlines

Monday, 10 August 2009 09:51 by Info@YesVirginia.org

LiteSteel Technologies America, Canon, Optical Cable Corporation, Northrop Grumman Shipbuilding and GE Energy were recently showcased in IndustryWeek as the definition of advanced manufacturing.

LiteSteel was touted for its globality and Canon for its sustainability. Northrop Grumman Shipbuilding was highlighted for its successful supply chain network and Optical Cable Corporation for customization. GE Energy received high marks for leading-edge technology.

Had they paid for that horn-tooting ink in the form of an advertisement it a) would not have had the credibility of a third-party validator such as IndustryWeek behind it and b) would have cost upward of $10,000. Instead, these companies in June gave an hour of their time, some refreshments and a few chotchkies bearing their brand. In return, they received positive coverage in one of the most powerful business-to-business media venues out there thanks to their participation in the Virginia Advanced Manufacturing Media Tour, hosted by VEDP. 

VEDP coordinates two media tours annually to bring awareness to industries that are experiencing success across Virginia.  While the chief objective of the tour is to promote Virginia as an ideal business location, we also manage to snag a positive headline here and there for participating companies.

Media tours are just one of many ways VEDP works to nurture Virginia’s relationship with its corporate community. A company’s partnership with the Commonwealth doesn’t end when the shovel pierces the Earth. It’s only just beginning. To learn more about partnering with Virginia, visit www.YesVirginia.org.

The Power of the Future Belongs to Virginia

Monday, 6 July 2009 13:22 by Info@YesVirginia.org

Check out Virginia Business Magazine’s latest issue for a comprehensive article about Virginia’s nuclear industry.

It makes for a good read. The article underscores Virginia’s efforts to maintain a strong base of power generation from various traditional sources, while a variety of renewable resources and their associated technologies take on a larger share of the power-generation picture.

There’s no doubt the Commonwealth views nuclear as a key pillar of our unique generation and power reliability story. The power of the future belongs to Virginia. Home to three of the top global players in the energy sector (AREVA NP, Babcock & Wilcox and Northrop Grumman Shipbuilding) and a plethora of national players, Virginia’s cluster of technology, workforce and corporate businesses positions the Commonwealth as a leader in clean energy and advanced manufacturing of components for the energy sector. The vertical integration of Virginia’s assets—from workforce to real estate to research & development, to regulatory climate and proximity to market—means that energy-related companies can grow in a business climate that is prepared to sustain their competitiveness for the long term.

The article highlights the groundbreaking of the new AREVA Newport News project, a joint venture with Northrop Grumman Shipbuilding to manufacture equipment and pressure vessels for the nuclear industry. Governor Kaine will join AREVA and Northrop Grumman officials later this month for the groundbreaking ceremony in Newport News. Also discussed are several industry firsts that are happening right here in the Commonwealth: Babcock & Wilcox’s plans to develop a scalable, modular game-changing nuclear reactor, Dominion Virginia Power’s plans to build one of the first new nuclear reactors in the U.S. in three decades, and Virginia Commonwealth University is the first state university to add a nuclear engineering track to its masters engineering degree program.

The Commonwealth’s energy sector already employs more than 31,000 people, and Virginia ranks second in the number of nuclear engineers. We see both of those figures growing by leaps and bounds in the coming years, thanks to programs such as PRODUCED in Virginia (Providing Undergraduate Connections to Engineering Education in Virginia) and important strategic investments like that of the Virginia Tobacco Commission toward R&D facilities and research contracts, mainly around energy.

With help from a state interagency energy task force, VEDP is actively seeking project opportunities across the full spectrum of traditional and alternative energy resources. For more information about operating your energy facility in Virginia, visit us at www.YesVirginia.org or contact Mike Carruth at mcarruth@yesvirginia.org.

We’re Pro-Business and We’re Proud

Thursday, 25 June 2009 21:22 by Info@YesVirginia.org

Well, it looks like Virginia has done it again. Despite a troubled national economy, the Commonwealth is the top pro-business state for 2009, according to Pollina Corporate Real Estate, a top U.S. corporate site location expert. While Pollina doesn’t have the brand recognition that Forbes does, the organization’s seal of approval carries substantial weight in economic development and site selection circles.

This leading label marks Virginia’s third No. 1 ranking by Pollina. The Commonwealth held the top spot in 2003 and 2007. We ranked second in the Pollina study from 2004 to 2006 and dropped to third place last year. The current recession brings even more importance to Virginia’s climb from third last year to first place.

It means we must be doing something right. The annual study evaluated all 50 states based on 33 factors, including taxes, human resources, right-to-work legislation, energy costs, infrastructure spending, workers compensation laws, economic incentives programs, and state economic development efforts.

Virginia did well in the Labor, Taxes, and Other Factors categories, where we placed fourth overall. Our lead can also be attributed to strengths in college completion, low unemployment, right-to-work status, workers compensation rates, low corporate taxes, low sales and gross receipts taxes, our corporate litigation environment, and low crime rates.

"Virginia maintained its rank for Incentives and Economic Development Agency Factors by having one of the finest economic development departments in the nation, and providing flexible incentives for business creation. A close examination of Virginia’s programs reveals a very well-balanced understanding of economic development," said Brent Pollina, Vice President of Pollina Corporate and author of the study. "The programs include: low-interest loans, infrastructure improvement grants, corporate tax credits, enterprise zone tax credits, customized industrial training and property tax abatements. The Governor’s Opportunity Fund is one example of a program that clearly sets Virginia apart from other states. Virginia’s strength is its ability to front-load some of its key business incentives. This provides companies with capital when they most need it – the first 36 months of a project."

There you have it. We couldn’t have said it better ourselves.

Pounding International Pavement

Wednesday, 17 June 2009 16:13 by Info@YesVirginia.org

VEDP gets a lot of inquiries—and criticism—regarding Governor Kaine’s participation on overseas marketing missions.

The comments often leave us scratching our heads. During these tough economic times, what is more important than working to bring jobs and investment to the Commonwealth? It’s more important now than ever to be out pounding the pavement in the name of promotion.

International pavement is especially important given that in 2008, international companies were responsible for more than 6,000 new jobs and $1.5 billion of investment in Virginia. The capital investments made by international companies in 2008 increased by more than 84 percent over 2007 and represented the fourth straight year of increased international investment. 

VEDP would really like to see that trend continue. Therefore, we plan and budget for overseas marketing missions, an aggressive and pro-active approach to project recruitment and export development that exposes the maximum number of foreign business leaders in a minimum amount of time to the advantages of doing business in Virginia. These trips also enable foreign corporate officials to meet the Commonwealth’s leadership, and provide Virginia’s leadership the opportunity to strengthen their understanding of current financial and business environments overseas. 

The Governor’s participation is especially important because he can open doors that VEDP is unable to open on its own. With the Governor at the lead, we meet with CEOs. Without him, we usually end up with someone with very little decision-making power.  

These trips are nothing new—Virginia governors have participated on overseas marketing missions for many years.  A personal meeting by the Governor with corporate executives demonstrates the high priority that is placed on Virginia’s business community, an important message to relay in a highly competitive market.

We’re thankful we have a Governor who embraces globalism and doesn’t get hung up on the misperception that it means American jobs going overseas. International companies like Volkswagen, AREVA, Canon and Swedwood, all of which have recently brought quality jobs and significant investments to the Commonwealth—are proof of that. They like us, too.

To learn more about the benefits your international company can enjoy in Virginia, visit YesVirginia.org or call us at (804) 545-5600.

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Green is in High Gear in Virginia

Friday, 12 June 2009 13:55 by Info@YesVirginia.org

 Green is the nation’s new favorite color. It’s on product packaging, splashed across the side of buses, dangling from company tag lines. Now it’s being attached to job categories. Add to white-collar and blue-collar the new “green-collar” job.

As we all know, “green” refers to more than just a color these days. It’s all about the environment, energy efficiency and conservation, and eco-friendliness.

Governor Tim Kaine pointed Virginia in the direction of all things green in September 2007 when he released the Virginia Energy Plan. The plan challenges the Commonwealth to a 40 percent reduction of the rate of energy growth by 2017, and a 30 percent reduction of greenhouse gas emissions by 2025, bringing emissions back to 2000 levels.

In December 2008, Governor Kaine launched the Renew Virginia Initiative with the goal of making Virginia a leader in environmental protection and energy conservation and efficiency. The initiative includes legislative proposals to reduce Virginia’s dependency on foreign oil, improve the environment and create “green” jobs.

That’s where we come in. Before the Initiative was launched, Governor Kaine hosted an energy roundtable discussion to hear from executives representing a wide range of alternative energy generation, energy conservation, and research and development companies. They discussed best practices for corporate and university research and development collaboration, incentives, skill sets needed to attract energy project investment, and factors influencing site location of energy production facilities.

With insider information in hand, VEDP is better equipped to assist energy companies in finding solutions to meet their business needs. We understand the importance of having policy support and we have new knowledge about the factors that influence energy-related companies’ location decisions. We get the need for a supportive business climate, and we can deliver.

We’re now working with an interagency task force, made up of relevant state agencies, university partners and federal labs in Virginia to build a compelling case for energy-related businesses’ location to Virginia.

To learn more about what Virginia can offer your energy company, check out our Web site at YesVirginia.org or call us at (804) 545-5600.

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IT Just Got a Little Cheaper to Operate in Virginia

Thursday, 4 June 2009 09:29 by Info@YesVirginia.org
Virginia offers a great advantage for Information Technology and the growing cluster of data centers already located throughout the Commonwealth.

Information technology companies that may have glanced at Virginia in the past may want to take a harder look. Virginia now offers a great advantage for IT and the growing cluster of data centers already located throughout the Commonwealth. The Virginia General Assembly recently unanimously passed a bill that enables companies to receive an exemption from the Virginia Retail Sales and Use Tax for computer equipment purchased or leased for use in a data center.

There are a few stipulations, of course. The equipment must be purchased or leased between July 1, 2010 and June 30, 2020. The data center must be located in a Virginia locality and generate at least $150 million in capital investment after July 1, 2009. Last but not least, at least 50 new jobs must be created that pay one and one half times the prevailing average wage in the locality.

This legislation has already proven to be a valuable tool in recruiting and retaining existing data centers. VEDP issued a press release announcing Virginia’s new advantage to industry pubs that generated immediate inquiries.

Moments after the release was sent, Data Center Knowledge headlined the news on its Web site: http://www.datacenterknowledge.com/archives/2009/05/13/virginia-passes-data-center-tax-incentives/. And the phone lines in VEDP’s Business Development Division received multiple calls from companies that read the release. IT and data centers are definitely a strong growth sector of Virginia’s economy. We look forward to continuing to look for ways that assist with financial efficiencies and operational savings for these businesses. 

For more information about how VEDP can assist your company, visit us at YesVirginia.org or call (804) 545-5600.

VEDP is Entering the Blogosphere

Tuesday, 19 May 2009 15:40 by Info@YesVirginia.org

We’re not sure we belong here, but we’re giving it a shot. We’d like to think VEDP is among cutting-edge state economic development organizations. After all, Virginia has been ranked the “Best State for Business” for three years in a row by Forbes.com. That didn’t just happen.

In times of economic crisis, Virginia needs to be creative with how it delivers its message. We’re often credited for our creativity when it comes to helping companies find solutions to meet their needs. Now it’s time to help ourselves.

Like others, our marketing budget has been slashed and our economic development activity has slowed. But in comparison to other states across the nation, Virginia is holding its own. In fact, the number of announcements, the sector and geographic diversity, and the encouraging ratio of new to expanding economic development projects suggest that Virginia remains a sought-after destination for new business investment.

We intend to keep it that way. If one (free) method of marketing Virginia means venturing out into the unknown world of cyberspace—we’re willing to give it a shot. It remains to be seen if it will help; it certainly can’t hurt.

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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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le="font-family: arial,helvetica,sans-serif;">Virginia and Microsoft have partnered once again – not surprisingly as both are IT leaders who realize staying at the top requires investing in the future. This time, that investment takes the form of educating the Commonwealth’s public high school students as Virginia is only the third state in the nation to implement the Microsoft IT Academy Program. With an aggressive goal of full participation by the end of this school year, the program will support both students and teachers by making software and coursework available including everything from computer basics to programming to the opportunity to earn recognized Microsoft certifications.

Virginia is certainly no stranger to technology with the highest concentration of high-tech companies in the country according to the U.S. Chamber of Commerce. Microsoft has demonstrated its understanding of Virginia’s pro-technology climate through the 2010 announcement of its investment of up to $499 million to locate its latest generation data center in Southern Virginia’s Mecklenburg County. This was followed by a recent announcement that the company would invest $150 million to expand this advanced data center and add 21 MW of electric power capacity.

The groundwork to attract Microsoft’s data center and support its educational offering for all Virginians was quite literally laid several years ago by the Mid-Atlantic Broadband Cooperative. In an effort to support underserved rural areas in Southern Virginia, MBC established an 800 mile open-access, fiber-optic broadband network. While this advanced network has attracted a flurry of Gigaparks and technology companies to the former tobacco region, the network will also provide high-speed internet access to more than 100 schools in Southern Virginia through a federal broadband stimulus program.

Beginning this school year, students in two Southern Virginia counties have been equipped with high speed broadband for the first time. Jumping from 45 Mbps to 100 Mbps is a significant leap that allows students and teachers to take full advantage of the internet, specifically improving video streaming and online collaboration. Establishing high speed connectivity in rural areas like Southern Virginia sets the stage for Microsoft’s IT Academy to be successful.  This will be truly be a statewide  program, allowing students everywhere to take full advantage of Microsoft’s online resources  in order to build the technical skills necessary to fuel Virginia’s booming IT industry.

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Montgomery County Makes Inc. Magazine’s 500|5000 List for 2011

Tuesday, 27 September 2011 15:09 by Info@YesVirginia.org

With close to 300 Virginia companies on Inc. Magazine’s 2011 Inc. 500|5000 list of the fasting growing companies, the Commonwealth is very well represented. What is perhaps more impressive is the breadth of that representation, spanning multiple regions and industries. With our close proximity to the nation’s capitol, it is no surprise that more than 100 of these Virginia businesses were in the government services sector. However, the list of our top growing companies showed a healthy diversification across the IT, healthcare, business services, energy and education sectors as well. Virginia’s companies are growing in growth industries, which is great news for the Commonwealth.

Montgomery County is a microcosm illustrating this manifold growth. With three companies on the list in three different sectors, Montgomery County entrepreneurs exhibit the creativity and innovation Virginia is known for. Modea, a digital advertising agency, is a homegrown start-up with an impressive client list allowing for a new headquarters building and the addition of 200 employees over the next five years. UXB International is an environmental technology company specializing in demilitarization and weapons removal that has moved to Montgomery County to take advantage of the Virginia Tech Research Center. Harmonia Holding Group is another local startup catering to the software and systems engineering needs of the military and federal agencies from its headquarters, also located at the Virginia Tech Research Center. 

Learn more at the Montgomery County Economic Development News Center.

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A Success for Dex

Tuesday, 20 September 2011 11:43 by Info@YesVirginia.org

Who doesn’t love to hear a success story – especially one from right here in Virginia? Dex, a division of Arrow Truck Sales, dismantles used Mack and Volvo trucks to harvest components for reuse on other trucks. With more than 2.7 million heavy-duty trucks in operation in the U.S., there is a growing market for quality used parts.

Five years after signing a lease for a building space in Floyd Regional Commerce Center in Floyd, Virginia, Dex has reached its reuse and recycling goal. The challenge required Dex to reuse or recycle every component part of the heavy-duty trucks they acquire. While most parts were marketable for resale, Dex had to find new markets for items like glass, plastics, rubber or damaged pieces.

This extensive sorting and processing required extra time and resources, but given their core value of environmental care Dex remained committed to reaching their goal.

Dex’s facility in Floyd has 29 full-time employees. The company has outgrown the 50,000-square-foot space and is leasing other temporary space. With this growth they are also looking toward the future and are currently working on the design aspects of products to ensure Mack and Volvo trucks produce zero landfill waste.

David Ingram, Chairman of Floyd County’s Board of Supervisors, said, “We are very glad that Dex chose Floyd County five years ago. Every job they’ve added is important.”

Congrats Dex!

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Praise for Hanover County

Thursday, 15 September 2011 15:33 by Info@YesVirginia.org

Last month, Hanover County received heaping praise in a Richmond Times-Dispatch article that detailed how Hanover has continued to be a great place to live and work despite a tough economic environment.

Known for its passionate citizen involvement and strong partnerships between businesses and government, Hanover prides itself on responsible planning and good, old-fashioned hard work. While there are many individuals that contributed in one way or another, the true spirit of Hanover’s success continues to be a community effort.

Check out the full article here.

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Center for Advanced Engineering and Research Opens in Bedford County

Friday, 9 September 2011 10:12 by Info@YesVirginia.org

Last month, Bedford County and the Virginia Region 2000 Partnership announced the opening of the Center for Advanced Engineering and Research (CAER).  Held August 25th, the ribbon-cutting ceremony celebrated the fruition of a project that involved extensive regional collaboration over the course of several years.

With an overflowing parking lot, more than 100 public officials and business leaders attended the ceremony and got a first look at the new 30,000-square-foot facility. Businesses such as Babcock & Wilcox, Areva and Innovative Wireless Technologies, as well as the University of Virginia, have all secured space. The Region 2000 Partnership will continue to work toward securing more companies and organizations for the Center, which will be used 70% for research, 20% for community and outreach and 10% for administrative support. 

Speaking on behalf of Governor Bob McDonnell, Virginia’s Secretary of Technology Jim Duffy praised the partnerships that were fostered to open the center, and spoke of the “brightest minds” that will use the Center for research.

The goal of CAER is to be an industry-focused regional research and development center that drives the development of innovative products and processes by providing local access to university and federal research and inventions. It will target growth industries specific to the region, and will put university innovations into action through practical implementation in industry. CAER aims to increase the competitiveness for core, high-wage industries and improve the long-term prospects of existing industrial employers by creating a knowledge-based research hub for the region. 

Bill Guzek of the CAER Board of Directors said, “The center is meant to be an economic engine for the region. This is just the beginning.”

More information regarding CAER can be found on their website.

 

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Have You Heard?

Tuesday, 16 August 2011 15:02 by Info@YesVirginia.org

Just over a month after being named America’s Top State for Business by CNBC, Virginia has received another No. 1 ranking. The Commonwealth has been named the most pro-business state in the country by the 2011 Pollina Corporate Real Estate study: “Pollina Corporate Top 10 Pro-Business States for 2011: The Rise of the West.” Not only is it the third consecutive year that Virginia has taken home top honors, the Commonwealth won the 2011 top-ranking by the largest victory margin in the history of the study.

In its eighth year, the study is considered the “Gold Standard” in evaluating states by using a comprehensive ranking system based on factors ranging from taxes, right-to-work legislation, infrastructure spending and economic incentive programs. 

This year, Virginia lead over the number two spot by 44 points and was dubbed, “the brightest star on the American Flag,” in terms of its pro-business climate. But it’s not just our top spot status that garners such a prestigious title – the Commonwealth has held the top spot five times since the study began, with second place finishes in 2005 and 2006 and third place in 2008. Our consistent presence among the top pro-business states is proof that the Commonwealth has been and will continue to be open for business.

Virginia’s pro-business reputation was also reaffirmed this year by our second place finish in the Labor, Taxes and Other Factors category and our first place finish in the Incentives and Economic Development Agency Factors, which sites the Virginia Economic Development Partnership (VEDP) as one of the “finest economic development organizations in the nation.” The Commonwealth also performed strongly in the Education and Infrastructure categories and continues to shine on its Report Card.

All of us at VEDP couldn’t be prouder to represent our state and are committed to keeping Virginia the best state for business.

Click here for more information on the rankings and to see the full report.

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SRI’s Center for Advanced Drug Research Continues to Grow

Friday, 12 August 2011 09:01 by Info@YesVirginia.org
YesVirginia Business Blog | December 2016

Staying Focused on What Really Matters

Friday, 16 December 2016 14:39 by Info@YesVirginia.org

As 2016 comes to a close, we want to recognize the economic development profession throughout Virginia that works tirelessly for the common good, and in particular, to the dedicated employees of the Virginia Economic Development Partnership Authority (VEDP).

As leaders of the Board of Directors of VEDP—which by anyone’s measure, just experienced its most difficult year of operation since its formation in 1995—we are wrestling with deep problems facing VEDP, the economy and some systemic ones woven into the very fabric of how our Commonwealth approaches economic development. We are, however, optimistic because we know that economic development partners across the state are taking actions necessary to fortify Virginia’s future.

For our part, the VEDP Board is engaged. In 2014, Don Seale, then Chairman of the VEDP Board of Directors, realized that fundamental changes were needed inside the organization.  Don called for the creation of a Chief Operating Officer position and recruited Dan Gundersen to help reset VEDP. Dan’s initial focus was on strategic direction, creative programming, engaging employees, and assuring greater management control and accountability procedures.

We began to peel back the layers of VEDP. Dan Gundersen produced for the Board a first-ever Strategic Review that serves today as the guidepost for a 3-5 year action strategy for VEDP. A new compensation plan was adopted which provided pay equity across positions. We evaluated funding models for 49 other states’ economic development entities, produced new top-line metrics, put in place a robust communications strategy for the external partners and encouraged new avenues for employee input and engagement.   

We (Chris Lumsden and Dan Clemente) succeeded Don Seale as Chairman and Vice-Chairman respectively and the first thing we decided to do was to hear from our stakeholders. We conducted a Listening Tour that involved over 150 economic development professionals, public officials, and business interests in all regions of Virginia and more than 80 counties. We learned that over several years’ time, VEDP’s approach to marketing and deals had alienated many of its stakeholders and contributed to a crisis of confidence.

In March of this year, we asked Dan Gundersen to serve as Interim President and CEO, as well as COO, to help turn around VEDP. He demonstrated great courage and collaborative leadership skills in managing VEDP during a period of serious political stress and organizational crisis. Working with the Board’s Finance and Audit Committee, the VEDP team put in place solid due diligence procedures for discretionary grants, cleaned up twenty years of Governor Opportunity Fund records, and delved into data integrity and integration issues. VEDP also moved its 55,000 square-foot headquarters to new space that saved the Commonwealth over $1.8 million. The new headquarters is designed with open spaces and glass offices and, quite literally, sends a clear message to all that VEDP is a transparent organization that is reinventing itself for the next generation of economic development.   

By mid-summer, again with direct involvement of key Board leaders, input from the Joint Legislative Audit & Review Commission (JLARC) team and independent management consultants, VEDP was prepared to roll out a reorganization. Dan Gundersen successfully led VEDP through the difficult reorganization process, with input from a core planning group, cross-functional work teams, and facilitated focus groups of employees throughout the organization. Three new market-facing divisions were established: Business Investment, Competitive Initiatives and Workforce Development. They operate alongside VEDP’s International Trade team to support businesses.

New management in key spots has infused new energy and determination to have VEDP become recognized as the very best economic development organization in the country. We are pleased that Stephen Moret will join us at the helm in January.

Our work is not over—far from it. But we have laid a solid foundation on which to build a bright future for economic growth in Virginia. This would not have happened without the active support of Virginia’s economic development professionals. We thank you and look forward to continuing to work closely with you as we enter into the new year with renewed confidence and enthusiasm.

Sincerely,

Dan Clemente, Chairman of the Board
Vince Mastracco, Vice-Chairman of the Board
Chris Lumsden, previous Chairman of the Board

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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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