American Legislative Exchange Council Gives Virginia a Top 3 Ranking For Economic Outlook

Friday, 13 April 2012 13:23 by Info@YesVirginia.org
In its fifth edition of Rich States, Poor States the American Legislative Exchange Council rated Virginia in the top three for its 2012 Economic Outlook Ranking...

In its fifth edition of Rich States, Poor States the American Legislative Exchange Council rated Virginia in the top three for its 2012 Economic Outlook Ranking. This forward-looking ranking comprises 15 equally weighted state policy variables, including personal and corporate tax rates, as well as worker’s compensation costs, right-to-work status and even the quality of the state legislature.

As the highest ranked state in the region, Virginia definitively outshined its competition. With a corporate tax rate of six percent that remains unchanged since 1972, a right-to-work regulatory environment, and an unemployment tax burden that is 32 percent lower than the national average, it is easy to see why this is the second consecutive year the Commonwealth has made the top three in this study.

Virginia’s pro-growth economic policies offer companies long-term incentives to invest in the Commonwealth. For example, Virginia was able to successfully compete against nearby Maryland on a number of recent headquarters relocation announcements, including Northrop Grumman, ITT Exelis, Bechtel Corp. (divisional headquarters), Acentia and Alpha Natural Resources.

To learn why Virginia is consistently ranked America’s Top State for Business click here.

31 Virginia Professors Make The Princeton Review’s Best 300 Professors List

Thursday, 5 April 2012 14:40 by Info@YesVirginia.org
Virginia professors represented more than 10% of The Princeton’s Reviews inaugural Best 300 Professors list. Teaming up with RateMyProfessors.com, the organizations reviewed data on more than 42,000 professors to create their first ranking of America’s top undergraduate professors...

Virginia professors represented more than 10% of The Princeton Review's inaugural Best 300 Professors list. Teaming up with RateMyProfessors.com, the organizations reviewed data on more than 42,000 professors to create their first ranking of America’s top undergraduate professors.

The Best 300 Professors list includes professors from five Virginia schools:  University of Mary Washington, James Madison University, Sweet Briar College, University of Richmond and the College of William & Mary. A broad range of departments was represented, including computer science, mathematics, economics, chemistry, biology, accounting, political science, english and psychology, among others.

The ranking was based on survey data from college students, using both quantitative and qualitative statistics to evaluate factors such as the student’s overall experience in the classroom, the professor’s teaching ability and the professor’s accessibility.

Virginia’s strong performance on The Best 300 Professors list is yet another validation of the Commonwealth’s excellent higher education system. Virginia’s colleges and universities have achieved national recognition on a number of the prestigious U.S. News and World Report college rankings.

Last year, Virginia’s colleges and universities awarded 133,603 degrees ranging from associate through doctorate levels. With more than 500,000 students currently enrolled in more than 100 in-state institutions, Virginia’s strong pipeline of skilled workers is ready to meet the needs of businesses expanding across the Commonwealth. 

To learn more about Virginia’s outstanding education system and workforce training programs, click here.

Richmond, Virginia Receives a Top 3 Ranking on Gallup’s Job Creation Index

Tuesday, 3 April 2012 13:26 by Info@YesVirginia.org
Richmond, Va., was recently ranked No. 3 on Gallup’s Job Creation Index. Comparing the 50 largest metro areas across the U.S., the index looks at net job creation — contrasting percentage of companies hiring against companies letting employees go...

Richmond, Va., was recently ranked No. 3 on Gallup’s Job Creation Index. Comparing the 50 largest metro areas across the U.S., the index looks at net job creation — contrasting percentage of companies hiring against companies letting employees go.

What makes this ranking unique is that it reflects the perception of the local workforce regarding job creation in their city. Gallup performed a survey over calendar year 2011, interviewing employees in each metro area about whether their employers were expanding or downsizing.

Thirty-six percent of Richmond’s workforce stated that their employer was expanding while only 14 percent said their company was decreasing its workforce, yielding a net job creation index score of 22.

Richmond’s No. 3 ranking illustrates the positive job creation momentum in Virginia, and the workforce survey correlates with actual results. Governor McDonnell recently announced that January’s seasonally adjusted unemployment in Virginia fell to 5.8 percent, a three-year low.

Coming shortly after Virginia was named the 2012 Best State to Make a Living by MoneyRates.com, Gallup’s Job Creation ranking illustrates the high quality of life and career opportunities employees find in Virginia, as well as why the Commonwealth is able to attract a world-class workforce. New and established companies alike continually praise the skill and productivity of Virginia’s workforce.

To learn more about Virginia’s stellar employee base and why the Commonwealth is continually ranked America’s Top State for Business, click here.

4G Wireless Comes to Southwestern Virginia

Monday, 26 March 2012 17:06 by Info@YesVirginia.org
Businesses and residents in Southwestern Virginia will soon enjoy faster, more consistent wireless network access. Over the next three years, The Virginia Coalfield Coalition will partner with Verizon Wireless to install the network that will reach 95,000 households and 2,600 businesses in seven counties.

Businesses and residents in Southwestern Virginia will soon enjoy faster, more consistent wireless network access. Over the next three years, The Virginia Coalfield Coalition will partner with Verizon Wireless to install the network that will reach 95,000 households and 2,600 businesses in seven counties.

The Virginia Tobacco Commission committed $7.5 million in grants to implement the Fourth Generation Long Term Evolution (4G LTE) wireless network. The 4G LTE network is the most advanced technology currently available and is up to 10 times faster than 3G service, according to Verizon. The project will be completed in three phases, upgrading many existing towers and building at least 11 new towers in 2013-2014. Officials expect the first towers to be operational as soon as October 2012. 

This investment will improve cellular phone service and also bring high-speed internet access to new areas, making Southwestern Virginia an even more appealing location for all businesses, particularly the high-tech industry. Global leaders such as Northrop Grumman, CGI and AT&T have all chosen to locate operations in the region. Southwestern Virginia also offers tech businesses access to high-speed broadband networks, a skilled workforce with tech-tailored training programs and low operational costs.

These easily accessible resources mirror a statewide trend, making Virginia an even more attractive place to do business. With the highest concentration of high-tech workers according to Cyberstates 2011, the Commonwealth has the workforce to support its expanding tech industry.

To learn why leading technology companies have invested more than $9 billion over the last ten years to grow their operations in Virginia, click here.

MWV Launches Center for Packaging Innovation Pilot Plant

Tuesday, 20 March 2012 12:57 by Info@YesVirginia.org
MeadWestvaco Corporation (MWV) recently opened its state-of-the-art pilot plant in Henrico County, Va., last week. The plant is part of MWV’s Center for Packaging Innovation, which the company moved to its corporate headquarters in Richmond, Va., from Raleigh, N.C. in 2010...

MeadWestvaco Corporation (MWV) recently opened its state-of-the-art pilot plant in Henrico County, Va., last week. The plant is part of MWV’s Center for Packaging Innovation, which the company moved to its corporate headquarters in Richmond, Va., from Raleigh, N.C. in 2010.

MWV’s Center for Packaging Innovation develops and tests new products and technologies as part of the company’s effort to find creative packaging solutions for customers across the globe. The 48,000-square-foot plant will allow the company to increase its pre-commercialization product testing. 

With five new labs MWV’s capabilities include wood fiber development, polymer compounding, metallurgy and corrosion analysis, coatings and materials testing, form/fill/seal machines, die-cutting, distribution and supply chain testing, equipment prototyping, injection molding and multi-layer extrusion and lamination, to name just a few.

The pilot plant is the latest in a series of investments this Fortune 500 company has made in the Commonwealth. MWV invested $80 million to move its corporate headquarters from Connecticut to Richmond, Va., in 2006, creating 400 new jobs. The company also announced an investment of $285 million in June 2011 to construct a new, state-of-the-art biomass boiler at its Covington Mill in Alleghany County, Va.  MWV has been a Covington employer since 1899.

These investments illustrate MWV’s confidence in Virginia’s talent and infrastructure to support innovative projects across the Commonwealth. According to MWV Chairman and CEO John A. Luke, Jr., “Virginia is not only our corporate home; it is a major base of operations and gateway for our business around the world.”

To learn why companies continue to invest in the Commonwealth and locate their headquarters in Virginia’s pro-business environment, click here.

Site Selection Magazine’s Governor’s Cup Awards Virginia a Top 5 Ranking

Thursday, 15 March 2012 11:07 by Info@YesVirginia.org
Site Selection Magazine awarded Virginia a Top 5 ranking with its annual Governor’s Cup for new and expanded facilities. Virginia’s 273 new projects and expansions showed an increase of 44 percent over 2010, allowing the Commonwealth to climb from 10th place last year to 5th place this year...

Site Selection Magazine awarded Virginia a Top 5 ranking with its annual Governor’s Cup for new and expanded facilities. Virginia’s 273 new projects and expansions showed an increase of 44 percent over 2010, allowing the Commonwealth to climb from 10th place last year to 5th place this year.

To be included in the rankings, new facilities and expansions had to meet at least one of the following criteria: a minimum investment of $1 million, creation of at least 50 jobs and the addition of at least 20,000 square feet of new floor space.

Northern Virginia’s Arlington/Alexandria area received a No. 8 ranking for Top Metros with populations over one million. For metro areas with a population less than 200,000 three Virginia regions made the top 10 list. The Blacksburg/Christiansburg/Radford region was rated No. 4 and Charlottesville and Danville were both rated No. 8.

Staunton/Waynesboro, Va., received a 13th place ranking in the Top Micropolitan category. Micropolitans are defined as rural areas with a population of less than 50,000.

Staunton has been in the press recently when Forbes.com picked up the publication “How to Radically Revitalize America: A Micropolitan Manifesto.” Written and photographed by Staunton business owners, the publication describes how entrepreneurs are choosing to locate their businesses in Staunton, Va., for the rich quality of life the area offers.

Virginia’s pro-business operating environment, highly skilled workforce, leading R&D centers, premier logistics network and strong quality of life are just some of the reasons Virginia continues to lead with top accolades from CNBC, Forbes.com, Pollina Corporate Real Estate and Site Selection Magazine.

To learn why Virginia is the best state for business and offers the right mix of resources to support your business, click here.

Volvo Trucks’ New River Valley Plant First to Achieve Two Energy Certifications

Tuesday, 13 March 2012 15:12 by Info@YesVirginia.org
Volvo Trucks’ New River Valley plant in Dublin, Va., is the first U.S. facility certified to the ISO 50001 standards and the first Superior Energy Performance (SEP)-certified facility to use the ISO 50001 as its energy management standard...

Volvo Trucks’ New River Valley plant in Dublin, Va., is the first U.S. facility certified to the ISO 50001 standards and the first Superior Energy Performance (SEP)-certified facility to use the ISO 50001 as its energy management standard.

The New River Valley plant achieved both certifications by participating in pilot programs supported by the U.S. Department of Defense and offered through the American National Standards Institute (ANSI) and the ASQ National Accreditation Board (ANAB). The Virginia plant was SEP certified at the highest level, platinum, due to its 15 percent improvement in energy performance over a three-year period.

These energy efficiency certifications not only take the Virginia plant closer to becoming carbon neutral, they also allow the company to be more competitive at a global level.

Company management credits its skilled Virginia workforce for coming up with many of the energy-saving ideas. “These certifications required a high degree of cooperation — a total plant effort. Employees at all levels have been actively engaged throughout our entire energy reduction journey,” said Lars Blomberg, Volvo Trucks vice president.

The 1.6 million-square-foot plant at New River Valley is a marquee establishment in Southwestern Virginia, employing more than 2,000 Virginians. The Virginia Economic Development Partnership worked with New River Economic Development Alliance and Pulaski County in 1999 on the company’s $148 million expansion of the plant, which created 1,277 new jobs. 

Virginia is home to 170 automotive companies and Volvo Trucks’ New River Valley plant is a prime example of the innovation Virginia companies are bringing to the industry. With a pro-business operating environment, skilled workforce and R&D partnerships with universities, such as the Virginia Tech Transportation Institute and the National Tire Research Center, the Commonwealth has the infrastructure to support the future growth of this industry.

To learn more about what Virginia can offer automotive companies click here.

Water from Virginia’s Rockingham County Judged Top 5 in the Nation

Thursday, 8 March 2012 16:23 by Info@YesVirginia.org
Water from the Three Springs Water Treatment Plant in McGaheysville, Va., was ranked Top 5 in the nation at the recent Great American Water Taste Test in Washington, D.C...

Water from the Three Springs Water Treatment Plant in McGaheysville, Va., was ranked Top 5 in the nation at the recent Great American Water Taste Test in Washington, D.C.

The contest was managed by the National Rural Water Association as part of its yearly Rural Water Rally. Participants had to win both state and national competitions to be represented at the final judging panel.

Clarity, bouquet and taste were the selection criteria, with judges focusing on water samples that had no taste, no smell and perfect clarity.

The Three Springs Water Treatment Plant is located in Virginia’s picturesque Shenandoah Valley. The water quality is naturally pure as plant manager Luke Hornick stated, “We add fluorine and chlorine, but the water is of such purity that nothing else is needed.”

High water quality is important not just for individual consumption, but it also drives business decisions. Food processing and brewing companies require large amounts of high quality water, making Virginia a preferred location for those industries.

According to Rockingham County director of Community Development William Vaughn, “It’s one of the primary reasons that Coors — now MillerCoors — established East Coast operations here 25 years ago.”

Concerns over water quality and availability are receiving increased attention across the globe, making Virginia’s infrastructure resources a valuable asset for companies located in the Commonwealth. To learn more about Virginia’s world-class capabilities serving the food and beverage industry click here.

A view of Virginia's Shenandoah River

eBay Company GSI Commerce Expands in Henry County

Tuesday, 6 March 2012 16:52 by Info@YesVirginia.org

On Monday, GSI Commerce announced plans to expand its fulfillment capabilities in Henry County, bringing 60 new jobs and a $1.5 million investment to the Martinsville area of Southern Virginia.

This expansion will be used to handle the fulfillment, freight and warehouse management of the Company Kids and The Company Store brands of Hanover Direct — a new customer GSI Commerce just acquired.

Located in Martinsville, Va., since 2007, GSI Commerce has successfully grown its operations to include 1,000 full-time and seasonal workers. The expanded facility will be located near the company’s existing facilities at Bowles Industrial Park.

“GSI Commerce’s state-of-the-art fulfillment services will better facilitate the distribution of Hanover Direct’s brands and improve its clients’ customer experience. This new relationship will also ensure many jobs dedicated to Hanover Direct fulfillment services will remain within the state of Virginia,” according to the company’s press release.

The Commonwealth is a popular place for fulfillment centers with Amazon.com announcing two centers in Chesterfield and Dinwiddie counties, creating 1,350 new jobs. Backcountry.com also announced a fulfillment center in Montgomery County which is expected to create 200 new jobs.

To learn why Virginia’s strategic East Coast location, world-class logistics network and highly-skilled workforce make it a perfect location for logistics companies, click here.

Evatran’s Plugless Power System Pioneers Electric Vehicle Wireless Recharging

Thursday, 1 March 2012 14:32 by Info@YesVirginia.org
Wytheville, Va., company Evatran is leading the way in developing an electronic vehicle (EV) wireless recharging system. Governor Bob McDonnell hosted the company’s launch event for its Apollo Program at the state capitol in Richmond, Va., last Thursday...

Wytheville, Va., company Evatran is leading the way in developing an electronic vehicle (EV) wireless recharging system. Governor Bob McDonnell hosted the company’s launch event for its Apollo Program at the state capitol in Richmond, Va., last Thursday.

Google, Duke Energy, Hertz, Clemson University and the Commonwealth of Virginia have already signed on for Phase I of the Apollo Program. These partners have agreed to test the company’s wireless charging technology over the next three months and provide feedback to the company.

Evatran has been on the fast-track since June 2010 when Governor McDonnell announced the company would invest $3.5 million to establish a new manufacturing operation in Wytheville, Va., bringing 84 new jobs to the area. The Virginia Economic Development Partnership worked with Wythe County, the Joint Industrial Development Authority of Wythe County, Wytheville, Rural Retreat and Virginia’s aCorridor to successfully compete against North Carolina and Ohio for the project.

Evatran’s Plugless Power system is unique — as its name suggests it does not require the EV to be plugged in to recharge. Through inductive power transfer, the user simply has to park the vehicle over a specialized pad which uses magnetic fields to transfer energy from the pad’s coils to the receiving coils within the vehicle adapter. The energy is only converted to electricity once inside the vehicle, ensuring a safe transfer.

Evatran hopes the convenience of its technology will aid in the early adoption of EVs as a standard mode of transportation, helping to ease the global energy crisis.

As a green energy pioneer, the company illustrates the strength of Virginia’s entrepreneurs in both the technology and energy sectors. To learn more about the Commonwealth’s unique offering for technology and energy companies click here.

Made In America — Insourcing On the Rise

Monday, 27 February 2012 17:11 by Info@YesVirginia.org

Insourcing, reshoring, even backshoring are all terms used to described the growing trend of previously-outsourced manufacturing jobs returning to the U.S.

What exactly is driving this trend since Asia, and specifically China, has been earmarked as the go to place for cheap labor over the last decade?  The answer is simple — when it comes to goods for the U.S. market, on a total cost basis, manufacturing in China is becoming less attractive while manufacturing in the U.S. is becoming all the more so.

With increased exposure to the West, Chinese workers are demanding higher wages.  According to The Boston Consulting Group’s report Made in America, Again, Chinese wages are growing 15-20 percent each year. 

Labor typically represents only 7-25 percent of the cost in manufacturing a product. Other factors also moving in the U.S.’ favor include a favorable exchange rate, increased U.S. worker productivity and rising energy and land costs in China. Longer supply chains necessitate higher inventory and shipping expenses as well as pose political, intellectual property and weather related risks — all of which have become less tolerable to global manufacturers.

The combination of these factors led The Boston Consulting Group to conclude that “By sometime around 2015 — for many goods destined for North American consumers — manufacturing in some parts of the U.S. will be just as economical as manufacturing in China.”

In addition, China’s manufacturing infrastructure will increasingly be put to use to serve the local market. Its rising middle class will demand more products, absorbing a larger percentage of the goods produced in China. Given the costs and risks mentioned above, global supply chains appear to be shortening, with companies returning to the U.S. to manufacture goods closer to the end user.

Virginia’s furniture industry is a great illustration of this trend, with a number of expansions announced over the last few months. In Galax, Va., Albany Industries’ first Virginia location will create 335 new jobs and Vaughn-Bassett’s expansion of an existing factory and acquisition of an additional factory will create more than 100 jobs.

In addition, Netherlands producer Axxor Group chose Pittsylvania County for its first U.S. operation to supply honeycomb to nearby IKEA subsidiary Swedwood North America. Most recently, Laminate Technologies selected Henry County for its new Mid-Atlantic manufacturing operation, creating 30 new jobs.

Virginia’s cost-effective operating climate combined with its highly-skilled manufacturing workforce puts the Commonwealth in a prime position to capitalize on this trend. From Galax, Va., Vaughn-Bassett CEO John Bassett explained, “We are winning the battle against our Asian competition because we have the finest workforce in the world and we have the best equipped factories in the world,” as quoted by WSLS 10 News.

With 2011 manufacturing job creation up 31% and investment up 75% over last year, Virginia has already distinguished itself as a manufacturing powerhouse. To learn why Virginia’s pro-business climate and educated workforce make it a great location for manufacturing companies, 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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HanesBrands Inc. Expands in Patrick County

Thursday, 29 November 2012 13:47 by Info@YesVirginia.org
HanesBrands recently announced plans to expand its Woolwine plant in Patrick County, Va., through a $1.6 million investment...

HanesBrands recently announced plans to expand its Woolwine plant in Patrick County, Va., through a $1.6 million investment.

The company will upgrade the plant with high-speed manufacturing equipment that will double current capacity and allow the company to increase production of performance fabrics in the women’s sports market. 

The investment will bring 50 new jobs and retain 215 jobs at the Patrick County operation. In addition, HanesBrands employs a workforce of 400 at its distribution center in nearby Martinsville, Va.

HanesBrands has a long history in the region and the company’s positive experience with Virginia’s pro-business climate and advanced manufacturing workforce helped ensure the Commonwealth was selected once again.

Southern Virginia maintains a rich heritage of textile operations, and this investment illustrates Virginia’s manufacturing prowess in the competitive worldwide apparel industry.

With more than 6,000 manufacturers located in Virginia, the Commonwealth has seen more than $13.8 billion in capital investment from manufacturing companies over the last 10 years. To learn more about Virginia’s advanced manufacturing industry, click here.

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Virginia Economic Development Partnership is the Best State for Business

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

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

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 infavorably on other costs such as lower cargo handling and fuel fees, as well as fewer weather-related delays compared to its Northern counterparts, leading to an overall lower operational cost structure for carriers and manufacturers.

In 2010 Dulles handled almost 323,000 metric tons of freight, with more than 195,000 metric tons traveling internationally. Its 442 weekly international departures to 48 destinations around the world illustrate how Dulles has already developed a substantial infrastructure. “There’s already a critical mass for the global air cargo market, but what’s most exciting is there’s capacity to grow,” said Brent Sheffler, VEDP Managing Director - Advanced Manufacturing. Added Sheffler, “Dulles has 515,000 square feet of cargo warehouse space, nearly one million square feet of cargo ramp and hundreds of acres surrounding the airport to support highly-secured air cargo and climate-controlled distribution facilities.”  

The air cargo capabilities of Dulles International Airport add to the compelling story of why Virginia is CNBC’s Top State for Business. To learn why Virginia’s is a leading gateway to the world click here.

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Blacksburg Virginia Named Bloomberg Businessweek’s #1 Best Place in the U.S. to Raise Kids

Thursday, 17 November 2011 15:44 by Info@YesVirginia.org
Blacksburg Virginia Named Bloomberg Businessweek's #1 Best Place in the U.S. to Raise Kids

Best known as the college town surrounding Virginia Tech, Blacksburg is making a name for itself as a family-friendly community after receiving top scores on a number of factors parents consider when deciding where to live. “Excellent schools, combined with an affordable cost of living, relatively low crime, and plentiful amenities lifted Blacksburg to first place in Businessweek.com’s sixth nationwide ranking of best places in each state in the U.S. to raise kids,” according to Bloomberg Businessweek.

Blacksburg offers residents a high quality of life with a multitude of recreational activities. Located between the Blue Ridge and Alleghany Mountains, the town provides easy access to the Appalachian Trail and the George Washington and Jefferson National Forests. In addition to an aquatic and community center, Blacksburg maintains more than 400 acres of parkland which houses public playgrounds, sports fields and miles of walking and biking trails.

It is no surprise that the top city to raise children has an excellent educational system, with schools that score well above average on standardized tests. The community is home to seven public schools – from elementary through high school – as well as several private schools, day-care facilities and preschools. As for higher education, Virginia Tech was ranked 28th in U.S. News & World Report’s Top Public National Universities list and its College of Engineering was ranked 15th in the nation. With more than 100 centers and institutes performing research, Virginia Tech graduates enter the workforce armed with real world, problem-solving experience. 

The Blacksburg workforce is highly educated, with two-thirds of residents above the age of 25 holding a bachelor’s degree or higher and 40 percent holding a graduate or professional degree. This type of educated workforce combined with the research capabilities of Virginia Tech is a huge draw for companies. The Virginia Tech Corporate Research Center is home to more than 140 high-tech companies and research centers and Blacksburg Industrial Park is one of several industrial and research business parks housing numerous high-tech and manufacturing companies. In fact, Blacksburg had three companies make Inc. Magazine’s 2011 500|5000 list of the fasting growing U.S. companies.

To learn more about why Blacksburg, Va. is the best place in the U.S. to raise a family click here.

 

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Virginia On Target at CoreNet Global Summit

Tuesday, 15 November 2011 10:34 by Info@YesVirginia.org

Virginia Ranked Top 3 in LEED Green Building Certifications

Monday, 24 February 2014 17:05 by Info@YesVirginia.org
The U.S. Green Building Council recently named Virginia No. 3 for LEED (Leadership in Energy and Environmental Design) certifications as part of its annual ranking...

The U.S. Green Building Council recently named Virginia No. 3 for LEED (Leadership in Energy and Environmental Design) certifications as part of its annual ranking.

LEED is one of the most well-recognized and respected green building certification programs in the world, incorporating design, construction, maintenance and operational aspects into its environmentally-friendly analysis.

More than 57,000 commercial and institutional projects currently participate in LEED, comprised of 10.5 billion square feet of construction space in 147 countries. Each day more than 1.5 million square feet of space is LEED-certified.

In 2013, Virginia had 160 projects LEED-certified, which encompassed 16.8 million square feet of space and 2.11 square feet per capita. The ranking is based on per capita numbers to allow for a fair comparison among different population levels.

The office and retail space at 1776 Wilson Boulevard in Arlington, Va., received recognition as a notable project. It is the first commercial building in Arlington to earn LEED Platinum certification.

“As the economy recovers, green buildings continue to provide for jobs at every professional level and skill set from carpenters to architects,” said Rick Fedrizzi, president, CEO and founding chair, USGBC.

Investment in green-building infrastructure creates real economic value in the form of lower energy costs up front, and the reduction in greenhouse gases ensures a sustainable future for the environment and future generations.

Virginia’s leadership in this area is yet another example of the innovative environment the Commonwealth offers to business owners. To learn more about Virginia’s unique resources that have allowed companies to prosper here for more than 400 years, click here.

VEDP Publishes Cybersecurity Export Market Report

Friday, 21 February 2014 14:17 by Info@YesVirginia.org
This week, VEDP announced the release of its Cybersecurity Export Market Report. The report was prepared by George Mason University as part of VEDP’s Going Global Defense Initiative to help Virginia defense companies mitigate the impact of sequestration by growing their sales internationally...
YesVirginia Business Blog | All posts tagged 'economic development'

Backcountry.com Opens East Coast Fulfillment Center in Montgomery County, Va.

Wednesday, 29 August 2012 13:29 by Info@YesVirginia.org
On Friday, Backcountry.com celebrated the opening of its East Coast fulfillment center in Montgomery County, less than a year after the company announced it would invest $20 million and create 200 new jobs...

On Friday, Backcountry.com celebrated the opening of its East Coast fulfillment center in Montgomery County, less than a year after the company announced it would invest $20 million and create 200 new jobs. 

Secretary Cheng attended the ribbon-cutting ceremony, congratulating the company on its swift progress preparing the facility at Falling Branch Corporate Park.

As the largest online specialty retailer of premium outdoor gear, Backcountry.com is known for its fast delivery times and selected the Commonwealth for its strategic East Coast location and world-class logistics network. With 14 railroads, six major interstate highways, 9 commercial airports and the international Port of Virginia, the Commonwealth offers easy access to customers on the East Coast and beyond. 

To maintain its reputation for excellent customer service, locating near a skilled workforce was critical to Backcountry.com. With its close proximity to the Appalachian Trail and Washington-Jefferson National Forest, Montgomery County caters to outdoor enthusiasts, drawing a talented and passionate labor pool closely aligned with the company’s mission.

Virginia continues to be a leading location for fulfillment and distribution centers—Ace Hardware, Amazon.com, Home Depot, McKesson Corp, QVC, Target and Wal-Mart have all established operations in the Commonwealth.

Over the last ten years global logistics companies have announced more than 360 projects, totaling more than $1.6 billion in capital investment. To learn more about Virginia’s premier location and logistics infrastructure, click here.

Secretary Cheng (left) joins company and local officials as Co-Founder and Executive Chairman Jim Holland cuts the ribbon with one of Backcountry.com’s products.

Global Tech Leader iGATE Expands U.S. Presence in Loudoun County

Wednesday, 22 August 2012 16:16 by Info@YesVirginia.org
Technology leader iGATE recently announced plans to invest more than $1 million to establish a new facility in Loudoun County, bringing 250 new jobs to the area over the next few years...

Technology leader iGATE recently announced plans to invest more than $1 million to establish a new facility in Loudoun County, bringing 250 new jobs to the area over the next few years.

The location in Loudoun County will allow iGATE to further the expansion of its technology consulting services into the U.S. market, particularly with nearby Washington D.C. government agencies and businesses.

Close proximity to the Washington Dulles International Airport was a key advantage, giving a global company like iGATE access to 80 percent of the world’s economies.

The ability to draw upon a highly-skilled, tech-savvy workforce also factored into Virginia’s favor. Due to the consultative nature of the company’s custom technology products, human capital is a critical driver of the company’s success.

Fortunately the Commonwealth has the employee pool to match companies’ workforce needs, with the highest concentration of high-tech workers according to Cyberstates 2011. Companies are taking notice of Virginia’s world-class employee base. Professional, scientific and technical services—a category dependent on a quality workforce—was the top sector for job creation in Virginia last year, announcing almost 13,000 new jobs in 2011.

iGATE Chief Delivery Officer Sean Narayanan recognized the many attributes Virginia offers companies, stating, “We have been impressed with the business and government leaders in Virginia, the high caliber of the workforce, the excellent quality of life, and we look forward to positive, long-term growth and involvement in this area.”

To learn more about Virginia’s unique combination of assets and why companies have been prospering here for more than 400 years, click here.

Commonwealth Laminating & Coating Announces Second Expansion in Nine Months

Tuesday, 21 August 2012 15:00 by Info@YesVirginia.org

Secretary Cheng visited Commonwealth Laminating & Coating’s (CLC) headquarters last week to announce the company’s second expansion in less than nine months.

The company plans to invest $5.45 million to establish a national distribution center in the same business park as its headquarters and manufacturing operation in Martinsville, Va. The project is expected to create 60 new jobs—welcome news as Henry County and Southern Virginia continue to make positive progress towards economic recovery.

This project is further testament to CLC’s success in Virginia, as just last November the company announced its plans to invest $16.5 million to expand its manufacturing facility, creating 40 new jobs. 

With eight locations across five countries, CLC certainly has its pick of locations. Choosing to invest further in Virginia is a compelling endorsement of the Commonwealth’s excellent business environment. In addition, the Henry County location is the company’ sole manufacturing facility, illustrating how Virginia’s manufacturing capabilities can compete on a global level.

Virginia has successfully competed against China, Arizona and North Carolina for CLC’s projects over the last year.

The success of CLC’s solar control window film and high-performance coatings business adds to Virginia’s reputation as a leading location for polymer and film manufacturing companies.

Home to more than 200 plastics companies, over the last decade Virginia has seen more than $1 billion invested by plastics firms in new and expanding facilities. 

Virginia offers the skilled workforce, competitive operating environment and world-class logistics network so important to plastics manufacturing companies. To learn why companies like DuPont, Honeywell, Phoenix Packaging, Rubbermaid, and O’Sullivan Films have all invested in Virginia, click here.

McKee Foods Expands Manufacturing Operation in Augusta County

Friday, 17 August 2012 17:01 by Info@YesVirginia.org
Secretary Cheng recently attended an event at McKee Foods’ Stuarts Draft facility in Augusta County, Va., to announce the company’s planned investment of $19 million to expand the plant, creating 78 new jobs...

Secretary Cheng recently attended an event at McKee Foods’ Stuarts Draft facility in Augusta County, Va., to announce the company’s planned investment of $19 million to expand the plant, creating 78 new jobs.

Best known for its Little Debbie® line of snack cakes, McKee Foods produces a wide range of food products under the Sunbelt®, Heartland® and Fieldstone™ Bakery brands. Increased demand for the company’s line of Little Debbie® donuts is a major driver for the additional production capacity.

Successfully operating in Augusta County for 22 years, the high productivity of the local workforce helped Virginia win this project. The plant’s productivity, measured in cases produced per employee, has improved by 24 percent over the last two years, with the same number of employees and no additional automation.

According to Randy Smith, Vice President, McKee Foods Stuarts Draft operations, “McKee Foods initially recognized the strategic advantage of building a manufacturing facility in August County more than two decades ago. A major point in that decision was seeing that the Shenandoah Valley gave us access to a highly-skilled workforce. Today we’re pleased to be able to expand our production capabilities here.”

In addition to a highly-skilled manufacturing workforce, Virginia allows companies to improve their bottom lines. With a corporate income tax rate of 6 percent, an unemployment tax burden 32 percent lower than the national average, construction costs 16 percent lower than the national average, and favorably priced utility rates, more than 550 food and beverage companies call Virginia home.

To learn why food and beverage manufacturers have invested more than $1.9 billion in Virginia over the last decade, click here.

Tags:   , YesVirginia Business Blog | All posts tagged 'wall street journal in-app ad'

VEDP’s Digital Advertising Recognized by Richmond Ad Club

Monday, 10 June 2013 13:36 by Info@YesVirginia.org
VEDP’s YesVA mobile app and in-app advertisement for The Wall Street Journal were both recognized at the 2012 Richmond Ad Club’s Richmond Show...

VEDP’s YesVA mobile app and in-app advertisement for The Wall Street Journal were both recognized at the 2012 Richmond Ad Club’s Richmond Show.

Judged by a panel of nationally-recognized advertising and design professionals, VEDP’s advertising agency of record, Elevation, won the silver and bronze awards in the interactive category for its VEDP work.

VEDP launched the YesVA mobile app for iPad, iPhone and Android devices in the fall of 2012. This interactive tool allows clients to perform property searches and compare Virginia to other states in major business categories.

The app is available for free download at http://www.yesvirginia.org/App, or through the AppleApp Store and Google Play store.

The YesVA mobile app is part of VEDP’s digital marketing campaign targeting C-level executives and site selection consultants in selected geographies across the U.S., Europe and Asia, including native language advertisements in the German and Chinese markets.

The campaign, which began in 2012 and continues into 2013, is expected to generate more than 23 million impressions on the websites of leading business and site selection publications. The Wall Street Journal, Forbes, Bloomberg BusinessWeek, Site Selection, Area Development, Financial Times Asia and Financial Times Germany were among the selected media outlets. The campaign also incorporated pay-per-click search engine marketing via Google AdWords.

By helping companies make the most informed decision on business locations, the YesVA mobile app is yet another example of an innovative tool developed by VEDP to market Virginia as a top state for business.

To learn why Virginia’s unique combination of resources has encouraged businesses to prosper here for more than 400 years, click here.

A view of the Virginia ad from The Wall Street Journal app.

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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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