National Tire Research Center Displays New Tire Testing Machine “Flat-Trac LTRe”

Friday, 26 October 2012 15:23 by Info@YesVirginia.org
This week, the National Tire Research Center (NTRC) hosted a ribbon-cutting ceremony to celebrate the unveiling of its new tire testing machined called the “Flat Trac LTRe”...

This week, the National Tire Research Center (NTRC) hosted a ribbon-cutting ceremony to celebrate the unveiling of its new tire testing machine called the “Flat Trac LTRe.”

This high-performance, $11.3 million machine is the only one of its kind. It allows speeds up to 200 mph on car, truck and motorsports vehicles and tests tire performance during acceleration, brake and burnout events, as well as wheel torque capability.

Located in the Virginia Motorsports Technology Park adjacent to the Virginia International Raceway track in Halifax County, the NTRC provides easy access to real-world testing right on a premier race track.

NTRC is an applied research and testing facility established in 2010 through a public-private partnership between the Virginia Tech Transportation Institute, General Motors, the Institute for Advanced Learning and Research, and the Virginia Tobacco Indemnification and Community Revitalization Commission.

By combining the industry leadership of General Motors with the research prowess of Virginia Tech, NTRC will focus on developing safer tires that are environmentally friendly, providing higher fuel economy with lower emissions.

Southern Virginia has become quite a hub for the automotive industry. NTRC has partnered with nearby Southern Virginia Vehicle Motion Lab (SoVa Motion), a facility also operated by Virginia Tech that rounds out the region’s offering to automotive manufacturers by providing shock and suspension testing, on-vehicle sensing, and YesVirginia Business Blog | A place for news, opinions, and information regarding the Virginia Economic Development Partnership.

Virginia’s Biotech Industry Gains Another Asset: Virginia Biosciences Health Research Corp.

Friday, 8 February 2013 13:11 by Info@YesVirginia.org
This week, the Virginia Biosciences Health Research Corporation (VBHRC) announced its establishment to foster scientific research and provide a venue for public/private partnerships with Virginia’s leading universities...

This week, the Virginia Biosciences Health Research Corporation (VBHRC) announced its establishment to foster scientific research and provide a venue for public/private partnerships with Virginia’s leading universities.

The five founding universities include Eastern Virginia Medical School, George Mason University, University of Virginia, Virginia Commonwealth University and Virginia Tech. VBHRC will also include an 11-member Project Management and Oversight Panel as well as a 13-member Board of Directors.

VBHRC’s mission is to encourage industrial partnerships and increase corporate-sponsored research at Virginia’s universities to augment the Commonwealth’s growing biotech industry. VBHRC’s ultimate goal is to develop life sciences technology that can be used to start new companies and create jobs.

The research focus of VBHRC includes bioinformatics and medical informatics, point of care diagnostics, and drug discovery and delivery.

VBHRC joins a list of leading research institutes in the Commonwealth, including SRI International, the Howard Hughes Medical Institute, 11 Federally Funded R&D Centers, and 20 FLC Laboratories.

Virginia continues to gain recognition for its life sciences industry and was recently ranked the No. 2 Emerging Biotech Hub in Business Facilities’ 2012 State Ranking Report. With its central location in the mid-Atlantic life sciences corridor and strong technology and life sciences workforce, Virginia is home to nearly 800 biotech companies.

To learn why the private sector has invested almost $2 billion in Virginia’s life sciences industry over the last decade, click here.

Microsoft Announces $348 Million Expansion to Virginia Data Center Campus

Wednesday, 6 February 2013 10:36 by Info@YesVirginia.org
Last week, Microsoft announced plans to invest $348 million to expand its latest generation data center campus in Mecklenburg County, Va., creating 30 new jobs...

Last week, Microsoft announced plans to invest $348 million to expand its latest generation data center campus in Mecklenburg County, Va., creating 30 new jobs.

Fueled by strong customer demand for its cloud services, this investment will allow Microsoft to construct two additional buildings on its existing Mecklenburg County campus. In 2010, Microsoft announced a $499 million investment to establish this facility, followed by a $150 million expansion in 2011, bringing Microsoft’s total investment in this location to almost $1 billion.

With its modular technology and advanced cooling mechanics, the Mecklenburg County location is one of Microsoft’s most advanced data centers. In addition, Microsoft is purchasing renewable energy credits to offset all carbon emissions at the site.

Southern Virginia’s ability to provide a world-class data center location is due in part to infrastructure developed by the Mid-Atlantic Broadband Cooperative (MBC). Established several years ago to support underserved areas, today MBC owns and operates more than 1,500 miles of fiber optic network in Southern Virginia as well as a long-haul fiber network.

Virginia continues to be a prime location for data centers—data processing was the dominant sector for investment in the Commonwealth in 2011, at more than $960 million. Offering companies both the advanced broadband infrastructure and highly-skilled technical workforce, Virginia is poised to continue its growth in this sector.

In addition, the Commonwealth’s favorable electricity rates and Retail Sales and Use Tax Exemption on computer equipment used in data centers provide a strong competitive advantage to companies.

To learn why more than 700 data processing and hosting establishments have selected a Virginia location, click here.

Virginia Recognized as Top State for Green LEED Certifications in 2012

Monday, 28 January 2013 15:06 by Info@YesVirginia.org
Last week, the U.S. Green Building Council (USGBC) ranked Virginia as the top state for Leadership in Energy and Environmental Design (LEED) certifications in its annual ranking...

Last week, the U.S. Green Building Council (USGBC) ranked Virginia as the top state for Leadership in Energy and Environmental Design (LEED) certifications in its annual ranking.

In 2012, Virginia certified 170 projects, which encompassed 29.7 million square feet of LEED-certified space. With 3.71 square feet of certified space per capita, the Commonwealth moved up two places from last year.

Cooper Vineyards of Louisa County was recognized as the first winery on the East Coast to achieve LEED Platinum status.

USGBC is an international organization made up of 77 chapters, 13,000 member organizations, and 181,000 LEED professionals with a mission to build a more sustainable future.

USGBC manages LEED, one of the most renowned green building programs in the world. LEED provides certification programs for the efficient and environmentally-friendly design, construction and operation of a variety of buildings. According to USGBC, LEED certifies 1.6 million square feet of building space each day.

LEED-certified spaces not only offer a healthier environment, the efficiency gains yield a direct impact to a company’s bottom line. Virginia’s leadership in this area illustrates the Commonwealth’s innovative approach to providing a competitive environment in which companies can do business.

To learn more about Virginia’s unique combination of resources and why businesses have succeeded in the Commonwealth for more than 400 years, click here.

JMU Helps Build Virginia’s Cyber Security Workforce

Thursday, 24 January 2013 09:40 by Info@YesVirginia.org
Virginia’s cyber security capabilities span the Commonwealth, and one such hub is located around James Madison University (JMU) in the Shenandoah Valley Region...

Virginia’s cyber security capabilities span the Commonwealth, and one such hub is located around James Madison University (JMU) in the Shenandoah Valley Region.

With an information security program that began in 1999, JMU’s Computer Information Systems (CIS) program was ranked 9th among all Information Systems programs by Bloomberg Businessweek in 2012.

JMU prepares students for cyber security careers with an impressive offering of undergraduate and graduate programs that allow students to earn National Security Agency and Department of Homeland Security certificates along the way. Employers are taking notice—JMU graduates are being snapped up by marquee IT and consulting firms, including IBM, CGI, Accenture, Deloitte, KPMG, PWC, as well as a number of government agencies.

One of the more unique aspects of the CIS programs at JMU is the level of engagement among students and the community. 

On campus, JMU students participate in student clubs that compete nationally, such as the Computer Forensics Group and the Cyber Defense Club. In addition, the JMU Association of Information Technology Professionals (AITP) Student Chapter is the largest AITP student chapter in the U.S. AITP is the leading worldwide society of professionals in the IT industry.

JMU also engages the community through Cyber Defense Boot Camp, a summer program for high school technology teachers, and CyberCity, a program introducing disadvantaged high school students to careers in the CIS field.

Home to the Institute for Infrastructure and Information Assurance, JMU has partnered with George Mason University, the University of Virginia, and other public and private sector institutions on more than 60 research projects in the information security field.

With Virginia universities at the forefront of cyber security research and education, the Commonwealth’s workforce is well-positioned to maintain its top ranking with the highest concentration of high-tech workers, according to Cyberstates 2011.

To learn more about Virginia’s world-class IT and cyber security capabilities across the Commonwealth, click here.

VSU Part of Team Awarded $400 Million U.S. Army IT Contract

Tuesday, 15 January 2013 13:54 by Info@YesVirginia.org
Virginia State University (VSU) recently announced it was selected as part of a 16-member team awarded a $400 million IT contract with the U.S. Army...

Virginia State University (VSU) recently announced it was selected as part of a 16-member team awarded a $400 million IT contract with the U.S. Army.

The Information Technology Services-Small Business (ITS-SB) contract was awarded by the Army Contracting Command-National Capital Region (ACC-NCR) and the Army Computer Hardware, Enterprise Software and Solutions (CHESS) groups as part of a competitive bid process.

The selected partners will support the U.S. Army’s enterprise infrastructure needs by providing a full spectrum of innovative IT services and solutions.

Eight of the 16 selected partners are based in Virginia, including lead-company Tantus|OnPoint. The other Virginia companies/institutions are: Advanced Resource Technologies Inc., CACI, Lunarline Inc., Strohmeir Consulting LLC, Systems Integration & Management Inc., VSU, and Zenetex LLC.

According to VSU, the university will provide support in the areas of Information Assurance, Independent Verification & Validation, Internet Protocol Version 6, Migration and Integration Services, and Warranty and Maintenance.

VSU was selected as one of only two universities to participate in the partnership. The university has a strong legacy of supporting U.S. Department of Defense contracts.

VSU has received multiple accolades for its innovation in IT. VEDP blogged last year about VSU’s Reginald F. Lewis School of Business winning three awards for its “Digital at the Core” initiative, which delivers core curriculum through digital textbooks, MP3 audio chapters, MP3 study guides, and downloadable quizzes and flashcards.

Founded in 1882, VSU is an example of Virginia’s premier higher education system that partners with companies to prepare students with the technological training and skills they will utilize upon entering the workforce.

To learn more about Virginia’s highly skilled workforce and world-class education programs, click here

Prince William County Science Accelerator Augments Virginia’s Booming Biotech Industry

Wednesday, 9 January 2013 10:46 by Info@YesVirginia.org

AREVA Opens U.S. Technical Center in Campbell County, Virginia

Friday, 5 October 2012 11:29 by Info@YesVirginia.org
AREVA, a leader in nuclear and sustainable energy, celebrated the ribbon cutting of the new AREVA U.S. Technical Center this September. The center, located in Campbell County, Va., opens just seven months after the company broke ground on the project which brings a $7 million capital investment.

AREVA, a leader in nuclear and sustainable energy, celebrated the ribbon cutting of the new AREVA U.S. Technical Center this September. The center, located in Campbell County, Va., opens just seven months after the company broke ground on the project which brings a $7 million capital investment.

The U.S. Technical Center will add to AREVA’s existing Solutions Complex, the largest collection of nuclear testing and service offerings in the U.S. The state-of-the-art U.S. Technical Center offers full-service nuclear safety testing, including a seismic analysis laboratory, environmental chambers, metallurgic and chemical labs, and industrial ovens.

AREVA provides customized solutions for efficient low-carbon power generation, which allow electric utilities to adapt quickly to new and changing regulations.

Home to a highly skilled and well educated workforce, Virginia has the personnel needed to fuel AREVA’s continued growth. In fact, Virginia companies employ the one of the highest concentration of doctoral scientist and engineers in the country.

Virginia’s ideal combination of abundant natural resources, excellent location for global access, and strong workforce draw energy leaders like AREVA and helps establish the Commonwealth as the Energy Capital of the East Coast.

To learn more about Virginia’s top workforce and leading role as Energy Capital of the East Coast click here.

McKesson Announces Third Distribution Center in Virginia

Wednesday, 26 September 2012 14:19 by Info@YesVirginia.org
This week, McKesson Corp. announced its third distribution center in the Commonwealth. The Frederick County project is expected to bring a0an%20investment%20of%20$27.5%20k.fbcdn.net/connect.php/js/FB.Share&pagt&page=11">11
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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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    Virginia is Top 3 Again in Business Facilities’ 2012 State Rankings Report

    Wednesday, 15 August 2012 16:46 by Info@YesVirginia.org
    Virginia again received a top three ranking in two coveted categories—the Commonwealth was ranked No. 3 in Best Business Climate and No. 2 for Economic Growth Potential. Virginia also received top ten recognition in the categories of Employment Leaders, Credit Quality, Per Capita Income, and Workforce Health and Safety...

    Virginia again received a top three ranking in two coveted categories—the Commonwealth was ranked No. 3 in Best Business Climate and No. 2 for Economic Growth Potential. Virginia also received top ten recognition in the categories of Employment Leaders, Credit Quality, Per Capita Income, and Workforce Health and Safety.

    As part of its eighth annual ranking, Business Facilities magazine weighed factors such as educational climate, the availability of workforce training, cost of labor, infrastructure, utility costs, credit rating and business tax climate. The magazine gave extra credit to states that have established pro-business policies.

    According to Business Facilities magazine, “As the Commonwealth continues to rack up an impressive tally of corporate headquarters relocations, Virginia also has established itself as a high-tech hub with its new Commonwealth Center for Advanced Manufacturing, anchored by jet-engine maker Rolls-Royce.”

    Virginia also received recognition for its leadership in two industry sectors— Aerospace and Biotech.

    The Commonwealth was ranked No. 7 in the category of Aerospace/Defense Industry Leaders. With more than 230 aerospace companies calling Virginia home, the Commonwealth continues to attract industry leaders such as Alcoa Howmet, Cobham Composite Products, Dynamic Aviation, Northrop Grumman, Dynamic Aviation, Orbital Sciences, Rockwell Collins and Rolls-Royce. First in the nation for Department of Defense Prime Contracts in 2011, companies have invested more than $1.5 billion in relocating or expanding in Virginia over the last 10 years.

    Virginia was also ranked No. 2 as an Emerging Biotech Hub. Located in the heart of the Mid-Atlantic life sciences cluster, Virginia offers biotech companies access to 11 federally-funded R&D centers as well as leading private institutions, such as SRI International and the Howard Hughes Medical Institute. With the highest concentration of high-tech workers according to Cyberstates 2011, it’s easy to see why nearly 800 life science companies have chosen to locate operations in the Commonwealth.

    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.

    It’s official — at the beginning of our fiscal year, July 1, the Virginia Jobs Investment Program became part of the VEDP team. House bill 932 passed by the Virginia General Assembly in in the spring 2014 special session moved the administration of VJIP to VEDP to further align Virginia’s job incentive programs.

    In fiscal year 2014, VJIP was involved in 96 percent of the projects that VEDP completed.

    VJIP is the second oldest incentive in the Commonwealth and was established in 1965. According to VJIP interim director Frank Strickler, “This is a homecoming for us. VEDP’s predecessor organization and ours were originally joined under the Department of Economic Development until 1996 when VEDP was formed and we were moved to the Department of Business Assistance. We have worked closely with VEDP’s business expansion and business attraction managers for years, so it’s great to be under one roof again.”

    VJIP is charged with marketing and managing a state-funded grant that helps companies train their employees. Companies can qualify for the incentive in any of three categories: new and existing business expansions that create jobs, small businesses that create new jobs, and workforce retraining to upgrade the skills of existing employees.

    Due to the flexibility of the three categories, a wide range of companies can qualify for the incentive. VJIP serves both large and small businesses in a variety of industries. VJIP project managers also provide free consulting services to client companies, helping them find solutions for their recruiting and training issues.

    The VJIP grant is a performance-driven incentive distributed on a pay-as-you-go basis after each employee has been on the job for more than 90 days. VJIP managers work with the company to develop a training outline and budget, so that the client has skin in the game. Companies can receive up to 50 percent reimbursement for qualified recruiting and training costs. Due to the multiplier effect, the incentive usually nets a 100 percent ROI (return on investment) in six months.

    VJIP is one of the longstanding examples of incentives that attract companies to Virginia’s pro-business environment. To learn more about VJIP, click here.

    Members of the VJIP team include (back row) Frank Strickler, Tre Akins, (front row) Lea Lofty, Brenda Young and Debbie Melvin. 

    Virginia a Top State for Private Equity Investment

    Monday, 30 June 2014 15:44 by Info@YesVirginia.org
    Virginia was ranked No. 7 for private equity investment in 2013, according to the Private Equity Growth Capital Council’s fourth annual investment report...

    Virginia was ranked No. 7 for private equity investment in 2013, according to the Private Equity Growth Capital Council’s fourth annual investment report.

    Last year, 66 companies across the Commonwealth received $14.7 billion in private equity investment. Virginia moved up in the rankings from 16th place last year.

    This signals that investors see value in Virginia’s entrepreneurs and growing companies. Private equity is typically used as growth capital to fuel expansion, as well as to assist companies in strategic turnaround situations.

    “Private equity investment is long-term capital at work,” said Steve Judge, president and CEO of the Private Equity Growth Capital Council. “The companies in states across the country that receive private equity investment are able to expand their businesses, develop new innovations and hire workers, and this report highlights the important contributions of private equity in the U.S. economy.”

    Virginia also saw two congressional districts break the top 20 in private equity investment. Virginia’s 4th Congressional District received $4.7 billion and Virginia’s 11th Congressional District received $4.5 billion. China-based W.H. Group’s acquisition of Smithfield Foods Inc. represents a majority of District 4's investment.

    According to the PEGCC report, private equity firms have invested $129.1 billion in Virginia-based companies from 2004-2013. The report further states that there are 568 private equity-backed companies headquartered in the Commonwealth, which support more than 309,570 jobs at facilities both in and out of state.

    The ability of Virginia companies to attract this amount of private equity investment is another testament to the level of innovation and success that entrepreneurs find when they locate their businesses in the Commonwealth. To learn why Virginia is a top state for business and investment, click here.

    Photo courtesy of Private Equity Growth Capital Council

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    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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    About VEDP

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

    Virginia to Offer Foreign Direct Investment Expertise

    Friday, 24 March 2017 09:51 by Info@YesVirginia.org

    The Virginia Economic Development Partnership will attend the German American Trade Association’s U.S. Entry Meeting in Stuttgart, Germany on March 29.

    The German American Trade Association is a nonprofit organization that offers seminars and advice on site selection, funding, customs affairs, and finding agents and distributors for companies looking to do business with the U.S.

    Ryland Potter, a member of VEDP’s Business Investment division, will serve as a foreign direct investment expert and speak on subsidies and grants available to German companies looking to expand into the U.S. market.

    Virginia is a leading gateway to successful business in North America, with more than 550 internationally-owned companies choosing to call the Commonwealth home.

    "Companies thinking about establishing a subsidiary in the U.S. attend GATA meetings to get the most up-to-date information in order to assess their potential,” said Luisa Blumfeld, GATA’s Marketing Director.

    VEDP values its partnership with the German American Trade Association and the opportunity to meet with companies directly to showcase Virginia as a location to do business.

    International companies have invested more than $8.3 billion over the past 10 years. To learn why so many companies choose to invest in Virginia, click here.

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    Virginia Rises to Second in Atlantic Region in Annual Workforce Development Rankings

    Wednesday, 1 February 2017 14:25 by Info@YesVirginia.org

    Virginia rose from fourth to second in the Atlantic region in a recent analysis of state workforce development activities conducted by Site Selection Magazine.

    Site Selection’s third annual state workforce development rankings provide a general sense of which states, in a given region, are devoting sufficient or superior resources to preparing their workforces for current and future employment. The analysis looked at states’ commitment to skills development as measured by their spending on workforce development, K-12 preparation and the number of working-age adults deemed “career-ready.”

    Among the eight ranked states, Virginia scored ahead of highly competitive states like Florida, North Carolina, Maryland, and Delaware, and tied with South Carolina.

    “Virginia’s improved ranking is further evidence that we’re making significant progress toward building a 21st century workforce,” said Governor McAuliffe. “We know that workforce is the number one factor companies evaluate when making a decision to locate a new facility or expand their existing business.  We’re pleased to see our position improve relative to our regional competitors and will continue our efforts to assure our position as a leader in workforce development and education.”

    Virginia offers customized recruiting and training services through the Virginia Jobs Investment Program (VJIP). To learn more about this economic development incentive, click here.

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    Virginia Economic Developers Recognized in National Ranking

    Wednesday, 25 January 2017 14:20 by Info@YesVirginia.org

    Five of Virginia’s top economic developers were recognized on Consultant Connect’s 2017 list of North America’s Top 50 Economic Developers last week.

    Consultant Connect, an agency designed to bridge the gap between economic developers and site consultants, announced its annual list of leaders in the industry. The recognized economic development professionals were nominated by their colleagues in both the economic development industry and the site consultant community for excellent practices and innovation and success in building the communities they serve.

    Virginia tied for the second most appearances of any state on the list of top economic developers. We are thrilled to congratulate:

        - Pandy Brazeau, Virginia Economic Development Partnership

    ·         - Carrie Chenery, Shenandoah Valley Partnership

    ·         - Beth Doughty, Roanoke Regional Partnership

    ·         - Megan Lucas, Lynchburg Regional Business Alliance

    ·         - Buddy Rizer, Loudoun County Department of Economic Development

    This recognition is a testament to Virginia’s dedicated economic development team at the state, regional and local levels. VEDP is proud to work with such a committed team, and we are thrilled to have so many colleagues recognized on this list.

     

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    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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    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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    About VEDP

    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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