MAAP Unmanned Aerial Test Site at Virginia Tech Declared Fully Operational by FAA

Monday, 18 August 2014 15:57 by Info@YesVirginia.org
Last week, a group of government, academic and business leaders gathered at Virginia Tech’s Transportation Institute to celebrate the FAA declaring the Mid-Atlantic Aviation Partnership’s Unmanned Aircraft Systems test site program fully operational...

Last week, a group of government, academic and business leaders gathered at Virginia Tech’s Transportation Institute to celebrate the FAA declaring the Mid-Atlantic Aviation Partnership’s Unmanned Aircraft Systems test site program fully operational.

In December 2013, the FAA announced that Virginia Tech was selected as one of six test sites across the country to conduct research as part of an initiative to establish safety standards for integrating UAS, such as drones, with commercial aircrafts.

Virginia Tech led the submission of a joint proposal for Virginia, New Jersey and Maryland, along with Rutgers University and the University of Maryland, called the Mid-Atlantic Aviation Partnership. MAAP is headquartered at Virginia Tech’s Institute of Critical Technology and Applied Sciences, with test sites located across Virginia, New Jersey and Maryland.

The ceremony included a simulation flight involving an unmanned, multi-rotor helicopter called the Smart Road Flyer. It was modified for transportation research by Dr. Kevin Kochersberger, a professor with the College of Engineering and the Virginia Center for Autonomous Systems, and engineering students from the Unmanned Systems Laboratory at Virginia Tech. The simulation gathered information from a mock accident scene on an interstate highway.

This scenario illustrates the wide-ranging future capabilities of UAS. Potential uses of this technology include disaster response, search and rescue missions, utility and pipeline inspections, agricultural monitoring, wildlife management, cargo delivery and weather observation.

This is another win for Virginia’s burgeoning aerospace industry. With flights to the International Space Station taking off from MARS/NASA Wallops Flight Facility and UAS launched from MAAP at Virginia Tech, the Commonwealth has the assets to stake its claim as a national aerospace leader. 

To learn why more than 250 aerospace companies have chosen to call Virginia home, click here.

Dr. Kevin Kochersberger (right) describes a UAS simulation flight at the Virginia Tech Transportation Institute during the MAAP First Flight Ceremony. University President Timothy Sands, Virginia Delegate Joseph Yost, Governor Terry McAuliffe, and MAAP Executive Director Rose Mooney (left to right) discuss the future of unmanned and autonomous aviation at the event. Photo Courtesy of Virginia Tech.

Get to Know VEDP’s NEW COO Dan Gundersen

Wednesday, 13 August 2014 13:21 by Info@YesVirginia.org
Dan Gundersen joined VEDP as Chief Operating Officer this May, where his focus is on running the day-to-day operations of VEDP. Dan’s full profile is available in the summer issue of Commerce Quarterly. To help you get to know Dan, here’s an interview we recently did to see how his first few months are going...

Dan Gundersen joined VEDP as Chief Operating Officer this May, where his focus is on running the day-to-day operations of VEDP. Dan’s full profile is available in the summer issue of Commerce Quarterly

To help you get to know Dan, here’s an interview we recently did to see how his first few months are going.

Q:  What has your first 75 days been like?

A:  It’s been focused entirely on the internal operations of VEDP. For many years now, VEDP has operated as a flat organization with the different department heads reporting directly to the CEO. With the recent reorganization and refocusing of VEDP’s initiatives, it became clear that there was a need for a coordinating role to help bring the operations into better alignment and to provide a more targeted and strategic focus for our efforts. And that’s really what my job is all about.

Q:  What specifically have you focused on?

A:  Performance metrics for the economic development profession has been something that I’ve focused on for years now. I’ve served on the board of the International Economic Development Council for a long time and have championed this cause. Recently I co-chaired the first ever performance metric analysis for the economic development profession with the IEDC called Making It Count:  Metrics for High Performing EDOs. The goal there was to be able to identify those metrics that can help us better tell the story of what we do and why we do it. Today it’s not just about jobs created and leveraging public sector dollars. The IEDC report provides more than 200 new measures that economic development groups can use. We’re taking a couple pages out of that book to help VEDP better describe the impact of its work. At the September VEDP board meeting we will introduce several new metrics to be able to assess our progress.

Q:  What does VEDP do really well?

A: In one word — deals. Martin Briley has an incredible ability to focus on the deal pipeline and knows the nuances of every single deal inside and out. He’s living and breathing our Salesforce database, and I think that has helped drive productivity to a very high level. 

Of course, exceeding goals is possible only if you have really good talent among staff, terrific esprit de corps, effective partnerships, and an incredible devotion to what I would call a “cause.” VEDP staff represents one of the most committed organizations that I’ve ever had the privilege of working for. In a way, that makes my job so much easier.

Q:  What challenges do you see ahead?

A:  The world of economic development is changing so quickly and we’re expected to be so many things to so many people. One of our biggest challenges is going to be keeping our focus on those things that we do well, while also being a thought leader and an advocate for the business community, a catalyst for launching new ideas, and even at times a broker of resources for others so that together we can bring about greater economic gain for the state. That’s why it’s important that VEDP develop its own strategic operating plan that builds on regional assets and that aligns seamlessly with the overall economic strategy that the Administration will be producing later this year. Right now, that’s probably my top priority.

Q:  Where are you focusing your efforts for FY15?

A:  The new strategic operating plan will highlight a few areas where we believe we can focus more of our attention and resources. One of those will be with identifying and assisting high growth firms. Research shows that high growth firms in any regional economy account for upwards of 70-80 percent of the net new jobs, and yet, these firms account for less than one percent of all business establishments. You’re going to see VEDP develop a very sophisticated strategy for making sure we are meeting the needs of these businesses better than any other state.

Another area will be an intense focus targeting foreign direct investment and assisting firms that wish to conduct trade in emerging markets around the world.

Finally, VEDP is going to be aggressively positioning itself with brand development and targeted marketing to be able to identify firms that could and should be in Virginia. It’s all about sustained and profitable growth and Virginia has all of those fundamentals to make it happen.

Keep an eye out — this fall we’ll be distributing a live podcast that Dan did for the Atlanta and St. Louis Federal Reserve Banks on the future of economic development.

Virginia Schools Rank High on the Forbes and Money Top Colleges Lists

Tuesday, 12 August 2014 09:46 by Info@YesVirginia.org
Virginia’s higher education institutions once again ranked high on the Forbes America’s Top Colleges 2014 list. Forbes partnered with the Center for College Affordability and Productivity on its seventh annual ranking.

Virginia’s higher education institutions once again ranked high on the Forbes America’s Top Colleges 2014 list. Forbes partnered with the Center for College Affordability and Productivity on its seventh annual ranking.

Three Virginia schools made the Top 25 in the Best Public Colleges category:  University of Virginia was No. 5, College of William and Mary was No. 6, and Virginia Tech was No. 23.

In the Overall category, eight Virginia colleges made the Top 200 list: Washington and Lee University (No. 33), UVA (No. 40), College of William and Mary (No. 41), University of Richmond (No. 96), Virginia Tech (No. 117), Virginia Military Institute (No. 129), Hampden-Sydney College (No. 171), and James Madison University (No. 188).

Washington and Lee University was also ranked No. 15 on the Best Liberal Arts Colleges list.

Forbes is a unique ranking because instead of focusing on the metrics of how competitive an institution is to get in to, it focuses on what students get out of college in terms of ROI. The five factors that determine the ranking include student satisfaction, post-graduate success, graduation rates, academic success and student debt.

Money also gave Virginia high marks on its Best Colleges for Your Money 2014 ranking. The Commonwealth scored well in the Best Public Colleges category with UVA at No. 3, VMI at No. 4, Virginia Tech at No. 12, JMU at No. 17 and the College of William and Mary at No. 20.

In the Overall category, 10 Virginia institutions made the Top 200:  UVA (No. 16), VMI (No. 18), Washington and Lee University (No. 39), Virginia Tech (No. 42), JMU (No. 53), College of William and Mary (No. 60), George Mason University (No. 101), University of Mary Washington (No. 107), University of Richmond (No. 120), and Hampden-Sydney College (No. 156).

Money only included schools with an above-average six-year graduation rate, and then based the ranking on a number of factors in three main categories — quality of education, affordability and outcomes.

Virginia’s substantial higher education system includes more than 100 in-state institutions that are preparing 450,000 students to enter the workforce. From large universities, to small private colleges, to the 23-member Virginia Community College System, the Commonwealth’s world-class education system stands ready to support industry demand with a strong pipeline of highly skilled workers.

To learn more about Virginia’s premier education system, click here.

A view of the Rotunda at the University of Virginia. UVA was ranked No. 3 on Money’s Best Public Colleges list. Photo courtesy of Virginia Tourism Corp.

Dream It, Do It – Virginia Hosts Seven Manufacturing Technology Camps This Summer

Thursday, 31 July 2014 14:33 by Info@YesVirginia.org
Dream It, Do It – Virginia hosted seven Manufacturing Technology Camps across the Commonwealth this summer. The camps are designed to reach out to high school students who are considering a career in manufacturing...

Dream It, Do It – Virginia hosted seven Manufacturing Technology Camps across the Commonwealth this summer. The camps are designed to reach out to high school students who are considering a career in manufacturing.       

The three-and-a-half-day camps allow students to experience all levels of production, from raw materials to finished goods. Students also participate in tours, lectures and manufacturing demonstrations where they get to see the latest in automation and robotics from Virginia’s leading manufacturers.

Students in the Manufacturing Technology Camps also participate in a competition where they work with a team to complete an assignment that involves designing, building and running a manufacturing system. During the competition, students receive training and mentoring from industry experts. Students on the winning team receive scholarships to pursue STEM education tracks.

This summer, two camps were offered at Southside Virginia Community College in Keysville, two at Lake Country Advanced Knowledge Center in South Hill, and one each at the Southern Virginia Higher Education Center in South Boston, at STIHL Inc. in Virginia Beach, and at ITAC in Chester. Halifax County posted a video from their Manufacturing Technology Camp here.

Dream It, Do It – Virginia is part of a national organization that provides access to on-the-job training and certifications to keep the existing manufacturing workforce up-to-date on the latest technology, as well as build awareness among youth about the many options and rewards a manufacturing career can offer.

The manufacturing jobs of today are very different from what manufacturing jobs in the past may have entailed. Virginia’s advanced manufacturing takes place in a clean, safe environment and requires high skill and high levels of education. Manual labor has largely been replaced with automation. An advanced manufacturing career today often involves managing the technical process to improve efficiencies and product throughput. The work is interesting and employees are rewarded with a competitive salary.

The Dream It, Do It – Virginia website provides a number of valuable tools for investigating a career in the Commonwealth’s advanced manufacturing industry. It allows students to assess their interests and skills to determine an area of focus, as well as view the educational requirements and career track for that specialty. You can also watch the recent Dream It, Do It – Virginia Third Wednesday Webinar by clicking here.

Businesses in the Commonwealth praise the experience and dedication of their Virginia workforce as one of their prime factors for success. Dream It, Do It – Virginia is one example of the many educational groups across the Commonwealth ensuring that Virginia’s workforce has the skills and training to match industry demand. To learn more, click here.

Students get hands on experience at one of the Manufacturing Technology Camps at the Southern Virginia Higher Education Center in Halifax County, Va. Photo courtesy of Halifax County Industrial Development Authority.

VSU Small Farm Outreach Program Helps Sabra Grow First Crop of Chickpeas in Virginia

Wednesday, 30 July 2014 09:05 by Info@YesVirginia.org
It’s harvest time and good news for Sabra Dipping Co. Virginia State University’s College of Agriculture is about to gather one of Virginia’s first ever crop of chickpeas...

It’s harvest time and good news for Sabra Dipping Co. Virginia State University’s College of Agriculture is about to gather one of Virginia’s first crop of chickpeas.

Sabra has partnered with VSU to research the possibility of sourcing chickpeas, the main ingredient in its top-selling hummus, closer to the company’s 49-acre campus in Chesterfield County. Sabra is the No. 1 brand of hummus in the U.S. and has established both a manufacturing operation and R&D Center of Excellence on its campus at Ruffin Mill Industrial Park in Chesterfield County.

Sabra first announced plans to establish a facility in Virginia in November 2008. Part of the company’s decision to locate in Chesterfield County was the proximity to VSU’s College of Agriculture. “During the company’s decision-making process, we arranged several meetings with the College of Agriculture to explore opportunities to grow chickpeas in Virginia and enhance the profitability of the company,” said Renee Chapline, president and CEO at Virginia Gateway Region.

Over the last two years, Sabra and VSU have implemented Dr. Harbans Bhardwaj’s chickpea research through the university’s Small Farms Outreach Program. Cliff Somerville, a VSU Small Farm Outreach agent, has worked with a number of farms across Virginia to test the growth of different varieties of chickpeas.

According to Somerville, while last year’s crops were largely a washout due to weather conditions (excessive rain) and a problem with worms, VSU and Sabra discovered that one type of chickpea seed worked well in Virginia — the “Billy Bean” variety.

This year, VSU only planted the “Billy Bean” variety and Somerville supervised one of those test sites – three acres on a farm in Halifax County.

“The plants got up to around 30 inches and it’s a good population with about 32-34 pods per stalk,” said Somerville. “It’s a successful crop. We’ve done a test run with the combine to check moisture levels, and we’re getting ready to do a full harvest in the next week or so. This will be one of the first crops of chickpeas grown in Virginia.”

The success of Virginia’s first group of chickpea crops has the potential to be a win-win for both Sabra and Virginia farmers. It would allow Sabra to shorten its supply chain and reduce risk by sourcing one of its main ingredients closer to the company’s manufacturing facility. It also would provide diversification for Virginia farmers, particularly those in the tobacco region.

To learn about Virginia’s plentiful resources, and how the Commonwealth’s higher education institutions partner with businesses to innovate, click here.

VSU Small  Farm Outreach agents Cliff Somerville and Derrick Cladd, program director William Crutchfield and cooperating farmer Mr. James Brown (left to right) examine plants in Halifax County, part of Virginia’s first successful group of chickpea crops. Photo courtesy of Virginia State University.

Richmond, Hampton Roads and Charlottesville are Top Happiest Metro Areas in the U.S.

Friday, 25 July 2014 15:53 by Info@YesVirginia.org
Richmond/Petersburg was ranked No. 1 and Hampton Roads (Norfolk/Virginia Beach/Newport News) was ranked No. 2 on the National Bureau of Economic Research list of Top 10 Happiest Metropolitan Areas with a Population Greater Than One Million. Charlottesville was ranked No. 1 as the U.S. Metropolitan Area with the Highest Reported Happiness...

Richmond/Petersburg was ranked No. 1 and Hampton Roads (Norfolk/Virginia Beach/Newport News) was ranked No. 2 on the National Bureau of Economic Research list of Top 10 Happiest Metropolitan Areas with a Population Greater Than One Million. Charlottesville was ranked No. 1 as the U.S. Metropolitan Area with the Highest Reported Happiness.

Economists at Harvard University and the University of British Columbia published a working paper called “Unhappy Cities” through the National Bureau of Economic Research. NBER is the nation’s leading nonprofit economic research organization, with more than 1,300 economics and business professors teaching across North America.

The authors of the study, Edward Glaeser, Joshua Gottlieb and Oren Ziv, used the Behavioral Risk Factor Surveillance System, a self-reported study on happiness conducted by the CDC, as their primary data source. Because the BRFSS data reports the county where a respondent lives, the authors were able to link responses with location.

They then performed a series of regression analyses to control for individual factors, such as education, income and race, to come up with an adjusted life satisfaction estimate for each MSA.

The authors discovered there is indeed a correlation between happiness and location. They also found that self-reported unhappiness is highest in declining cities, areas linked with lower levels of population and income growth.

It comes as no surprise that multiple regions in Virginia received top marks in this study. With more than 400 years of rich history, the Commonwealth offers employers and citizens an affordable cost of living, access to parks and natural resources ranging from the mountains to the ocean, and recreational opportunities from historical sites to modern sports, entertainment and cultural venues. To learn why reports like this give Virginia a top ranking on quality of life, click here.

A map of the U.S. which shows each metropolitan and rural areas' adjusted life satisfaction. Photo courtesy of the University of British Columbia.

Pollina Awards Virginia Another Top Pro-Business State Ranking

Tuesday, 15 July 2014 10:40 by Info@YesVirginia.org
Once again, Virginia received a leading ranking on Pollina Corporate Real Estate’s Top 10 Pro-Business States 2014 report. The Commonwealth was ranked fourth, taking the same slot as last year. Virginia has consistently received top marks in this report, taking one of the top two spots from 2005-2012...

Once again, Virginia received a leading ranking on Pollina Corporate Real Estate’s Top 10 Pro-Business States 2014 report.

The Commonwealth was ranked fourth, taking the same slot as last year. Virginia has consistently received top marks in this report, taking one of the top three spots from 2005-2012.

“Clearly a national leader in the 11 years of this study, no other state comes close to Virginia when it comes to being a consistent pro-business state,” said Brent Pollina, vice president of Pollina Corporate Real Estate, Inc. and co-author of the study.

Virginia was the top ranked state on the East Coast this year and has received an overall grade of “A” in each of the last five years.

“Virginia has consistently remained at the top of the list because Virginia’s state and local leaders are innovative and aggressive in attracting and retaining jobs and investment. Key to Virginia’s success is its ability to balance low taxes, a good labor force and a strong economic development program. With a Stage I rank of No. 6 and a Stage II rank of No. 3, Virginia has one of the most well-rounded business climates in the nation,” added Pollina.

The ranking is based on 32 factors controlled at the state level, including taxes, human resources, right-to-work legislation, energy costs, infrastructure spending, workers' compensation legislation, jobs gained, financial incentives and state economic development evaluations. The report was co-published with the American Economic Development Institute.

The ranking also reflected positively at the agency level of economic development. Virginia received an “A” in both incentives and marketing/website/response to new and existing employers.

As the report alluded to — consistency is key. Corporations making large investment and employment decisions want to feel confident that the location they select will maintain its positive attributes years down the line. The Commonwealth’s solid track record and stellar resources make it easy for companies to say “Yes” to Virginia. To learn more, click here.

Photo courtesy of the Virginia Department of Transportation.

Orbital Sciences Completes Second Launch to the International Space Station

Monday, 14 July 2014 15:33 by Info@YesVirginia.org
Yesterday at 12:52 p.m., Orbital Sciences completed its second launch to the International Space Station from Pad-OA of the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility on Virginia’s Eastern Shore...

Yesterday at 12:52 p.m., Orbital Sciences completed its second launch to the International Space Station from Pad-OA of the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility on Virginia’s Eastern Shore.

The Orb-2 mission is Orbital Sciences’ second of eight resupply missions to the ISS, part of Orbital Sciences’ $1.9 billion Commercial Resupply Service contract with NASA. Orbital Sciences will deliver more than 40,000 pounds of cargo to the ISS through 2016.

The Antares rocket launched the Cygnus spacecraft, carrying more than 3,600 pounds of research materials, hardware, science experiments and provisions for the crew of Expedition 40 aboard the ISS. The experiments include nanosatellites to take images of earth, satellites to allow 3-D mapping and robotic navigation inside the space station, and student projects from the Student Spaceflight Experiment Program.

Cygnus is expected to reach ISS Wednesday morning. Over the next two days Cygnus will complete a series of thruster burns to bring it close to the ISS, at which point the crew will use the ISS robotic arm to grapple and rendezvous with the spacecraft.

Cygnus will remain berthed with ISS for approximately 30 days so that the Expedition 40 crew can unload the cargo and reload it with trash. Upon completion of the mission, Cygnus will be burned up during reentry to Earth’s atmosphere.

Yesterday’s successful second launch to the ISS illustrates Virginia’s continued leadership in the aerospace industry. Through MARS, Virginia is one of only a few sites across the U.S. authorized for orbital space launches. To learn why more than 250 aerospace companies call Virginia home, click here.

Orbital Sciences’ Antares rocket takes off from Pad-OA of MARS at NASA Wallops Flight Facility on its second mission to the International Space Station. Photo courtesy of NASA/Bill Ingalls.

VEDP’s “Business Legacies Begin in Virginia” Video Wins Telly Award

Tuesday, 8 July 2014 14:20 by Info@YesVirginia.org
VEDP’s “Business Legacies Begin in Virginia” video recently won a Bronze Telly Award in the category of Recruitment, part of the larger Film/Video category...

VEDP’s “Business Legacies Begin in Virginia” video recently won a Bronze Telly Award in the category of Recruitment, part of the larger Film/Video category.

Since its founding in 1979, the Telly Awards has been honoring outstanding TV commercials and programs, video and film productions, and online commercials, videos and films.

This year’s 35th Annual Telly Awards has been one of the most competitive, with more than 12,000 entries received from all 50 states, as well as other countries.

The award was presented to VEDP and BES Studios, an agency that helped VEDP produce the video. VEDP also worked with 3 Creative on the project. 

Digital storytelling has become an increasingly important component of the marketing mix in economic development as companies and site selection consultants perform more upfront research online.

“The Business Legacies Begin in Virginia video is an important tool we’ve added to our digital marketing strategy,” said Vince Barnett, VEDP Vice President of Communications & Promotions. “We’re grateful to all our partners across the Commonwealth who helped us by providing video footage and access to film some great shots, and we’re honored to receive this award.”

A list of the corporate, regional and local partners who helped VEDP obtain video footage is displayed in the closing credits.

To view the video, visit VEDP’s website or YouTube channel.

VEDP Welcomes VJIP to the Team

Thursday, 3 July 2014 09:50 by Info@YesVirginia.org
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...

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

Search


Blog Homepage

Return to blog homepage


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.

Archive

© Copyright 2017

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2014 All rights reserved.
YesVirginia Business Blog | A place for news, opinions, and information regarding the Virginia Economic Development Partnership.

Danville Community College Prepares Virginia's Advanced Manufacturing Workforce

Thursday, 3 October 2013 16:37 by Info@YesVirginia.org

With the U.S. seeing a resurgence of manufacturing jobs, Danville Community College (DCC) has launched a new initiative, the Southern Virginia Consortium for Advanced Manufacturing (SVCAM), to ensure Virginia, and especially the Dan River region, is well-positioned to capitalize on this trend.

One of the goals of SVCAM is to expand DCC’s advanced manufacturing training programs. The manufacturing jobs that have been reshored tend to be higher tech jobs that require a strong STEM (science, technology, engineering and math) background.

DCC has already increased the size of its popular Precision Machining Technology program. Graduates are in high demand from businesses in the region, and DCC has doubled enrollment capacity and added two new machining instructors.

With additional funding from the Virginia General Assembly and other industry partners, DCC plans to renovate its Charles Hawkins Engineering and Industrial Technology building and expand machining lab and classroom space from 6,500 to more than 20,000 square feet. SVCAM funding will also be used to expand DCC’s welding, robotics, industrial maintenance, electronics, polymer manufacturing, engineering technology, additive manufacturing and nanotechnology programs.

Another benefit of the SVCAM program is increased outreach to younger students. DCC has partnered with area high schools to establish a 33-hour dual enrollment program that allows juniors and seniors to earn credit towards an Advanced Manufacturing Certificate and gain valuable skills in one of four areas:  precision machining technology, electronics, industrial maintenance or welding.

The benefits of the SVCAM program are already paying off. North American Mold Technology recently announced plans to establish a new operation in Danville and create 120 new jobs. DCC’s ability to supply and train a high-tech manufacturing workforce was cited by the company as a key factor in their location decision and helped Virginia successfully compete against Ohio for the project.

DCC and its SVCAM program is another example of Virginia’s premier education system, offering valuable workforce training solutions that attract businesses to the Commonwealth. To learn more, click here.

 

Forbes.com Names Virginia America’s “Best State for Business”

Wednesday, 25 September 2013 12:38 by Info@YesVirginia.org
Virginia won the top spot again in the Forbes.com 2013 Best States for Business ranking. Virginia has held one of the top two spots every year since the award’s inception, placing No. 1 from 2006-2009 and No. 2 from 2010-2012...

Virginia won the top spot again in the Forbes.com 2013 Best States for Business ranking. Virginia has held one of the top two spots every year since the award’s inception, placing No. 1 from 2006-2009 and No. 2 from 2010-2012.

Forbes.com uses six factors to determine its ranking, and Virginia is the only state to rank in the top five in four of the six categories. Virginia was ranked No. 1 for its regulatory environment, No. 2 for its labor supply, No. 4 for quality of life, and No. 5 for economic climate.

According to Forbes.com, “Virginia ranks first among the states in the regulatory category because of its business-friendly government policies and strong incentive offerings. The tort system is one of the best in the country for businesses, according to the Mercatus Center’s Freedom in the 50 States. Virginia is also one of 24 right-to-work states, which explains a union workforce that is only 4.4% of employment—fifth lowest in the U.S.”

The study also highlighted the strength of Virginia’s workforce, which has helped draw companies like Amazon.com and Microsoft to the Commonwealth. Virginia has the highest concentration of high-tech workers, according to TechAmerica’s Cyberstates 2013.

With concerns nationwide over the effects of sequestration, Forbes.com noted how well Virginia’s economy has performed. “Virginia’s $446 billion economy held up better than most states during the Great Recession thanks in part to spending by the federal government. But Virginia does have a widely diverse economy with strongholds in bioscience, logistics, manufacturing and technology. There are 31 companies (public and private) with more $3 billion in sales headquartered in Virginia.”

Virginia continues to garner top accolades due to the Commonwealth’s pro-business environment, competitive operating costs, world-class labor pool, premier logistics network and strong quality of life. To learn why companies have found success in the Commonwealth for more than 400 years, click here.

Denbigh High School’s Aviation Academy Recognized as PRIME School for Manufacturing Education

Tuesday, 24 September 2013 16:10 by Info@YesVirginia.org

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.

Archive

© Copyright 2017

s" type="text/javascript">

Construction has begun on B2 Modular, the first of three residential towers that will make up the 15-building, 22-acre multi-use site called Atlantic Yards in Brooklyn, N.Y.

B2 Modular will be the world’s tallest modular building at 32 stories, approximately 321 feet. 

Virginia-based Banker Steel is currently fabricating the 930 modular steel frame components at its facility in Lynchburg. The steel chassis will then be shipped to the Brooklyn Navy Yard where sheetrock, electrical, plumbing, tile and countertops will be added before final delivery to the building site in downtown Brooklyn.

Banker Steel recently announced it would expand its Lynchburg facility by 45,000 square feet and hire 50 new employees to meet the demand.

It is estimated that 60 percent of construction will be completed off-site in a controlled environment, allowing for significant improvements in safety, efficiency, speed and ultimately costs. Off-site construction is also expected to reduce material waste and minimize the impact to the local community.

Banker Steel was selected for this project as it previously partnered with Forest City Ratner Companies, lead developer of Atlantic Yards. The company fabricated more than 10,000 tons of steel for the Barclays Center sports arena, anchor facility at Atlantic Yards and home of the NBA Brooklyn Nets.

Banker Steel’s work on B2 Modular illustrates the creativity and technical skill found in Virginia companies. To learn more about the innovative environment the Commonwealth offers, click here.

A rendering of B2 Modular, the world’s tallest modular building.

Tags:   , , , , , , , , , ,
Categories:  
Actions:   E-mail | Permalink | Comments (0) | Comment RSSRSS comment feed

American Electric Power Qualifies Two Data Center Sites in Virginia

Thursday, 9 May 2013 13:24 by Info@YesVirginia.org
American Electric Power (AEP) recently qualified two business parks in the Commonwealth as prime locations ready for data center development—Roanoke County Center for Research and Technology and Wythe County Progress Park...

American Electric Power (AEP) recently qualified two business parks in the Commonwealth as prime locations ready for data center development—Roanoke County Center for Research and Technology and Wythe County Progress Park.

AEP operates in Virginia as Appalachian Power, and is one of the largest electric utilities in the U.S., serving more than 5 million customers and generating more than 38,000 MW of capacity. 

The company’s rigorous data center qualification process includes an independent review by location consulting firm Biggins Lacy Shapiro & Company and energy advisory group Sugarloaf Associates. Suitable data center sites are selected based on their competitive electric rates, reliable and redundant power supply, strong fiber optic infrastructure, low risk of natural and manmade disasters, moderate climate and business-friendly environment.

Dominion has a similar program and has pre-certified six data center sites in Virginia—Low Moor Mine Site in Alleghany County, Hillcrest Industrial Park in Mecklenburg County, Roanoke River Regional Business Park in Mecklenburg County, Watkins Centre in Chesterfield County, Meadowville Technology Park in Chesterfield County and White Oak Technology Park in Henrico County.

Most notable about these prequalified locations is their geographic diversity across the Commonwealth. In addition to “Data Center Alley” in Northern Virginia, AEP and Dominion have prequalified sites across Central, Southern and Western Virginia.

Virginia data center announcements topped $1 billion in 2012, displaying Virginia’s leadership in the technology sector. More than 50 percent of the world’s Internet traffic passes through the Commonwealth’s state-of-the-art infrastructure.

To learn why more than 700 data processing and hosting establishments have recognized the benefits of a Virginia location, click here.

Tags:   , , , , , , , , ,
Categories:  
Actions:   E-mail | Permalink | Comments (0) | First Deep Space Mission Launches from Virginia’s Wallops Flight Facility
Monday, 9 September 2013 17:03 by Info@YesVirginia.org
At approximately 11:27 p.m. on Friday, September 6, NASA, Orbital Sciences and the Virginia Space Flight Authority launched the LADEE (Lunar Atmosphere and Dust Environment Explorer) Mission from Virginia’s Mid-Atlantic Regional Spaceport (MARS) Pad OB at NASA’s Wallops Flight Facility on Virginia’s Eastern Shore...

At approximately 11:27 p.m. on Friday, September 6, NASA, Orbital Sciences and the Virginia Space Flight Authority launched the LADEE (Lunar Atmosphere and Dust Environment Explorer) Mission from Virginia’s Mid-Atlantic Regional Spaceport (MARS) Pad OB at NASA’s Wallops Flight Facility on Virginia’s Eastern Shore.

The LADEE Mission accomplishes a number of firsts—it is the first deep space mission to launch from the Wallops Flight Facility, as well as the first payload to launch on the U.S. Air Force’s Minotaur V rocket. The Minotaur V launch vehicle was built by Virginia company Orbital Sciences. 

The LADEE spacecraft was constructed using Modular Common Spacecraft Bus Architecture, representing a departure from custom design towards assembly production and multi-use design in order to reduce costs.

Upon completing three phasing orbits around the earth, the LADEE spacecraft will enter the moon’s orbit through a three-minute Lunar Orbit Insertion maneuver that involves firing the spacecraft’s onboard propellant for approximately three minutes.

After being captured by the moon’s gravitational field, LADEE will orbit around the moon for a 100-day science phase to collect data and study the lunar atmosphere. The moon’s atmosphere is classified as a surface boundary exosphere, a thin layer that is theorized to be the most common type of atmosphere in the universe.

Scientists hope to determine the density, composition and variability of the moon’s atmosphere, as well as learn more about the lunar dust environment. Knowledge gained through this mission can be extrapolated to the atmosphere of other planets, including Earth.

With another Antares mission expected to launch in mid-September from the MARS facility, Virginia remains at the forefront of U.S. space exploration. MARS is one of only four commercial sites authorized by the FAA for orbital space launches, and offers an ideal trajectory for earth orbit insertion.

To learn more about Virginia’s burgeoning aerospace industry, click here.

The LADEE Mission launches from Virginia’s Mid-Atlantic Regional Spaceport at NASA’s Wallops Flight Facility on September 6. Photo courtesy of NASA/Carla Cioffi.

Service Center Metals Celebrates 10-year Anniversary and Expansion

Thursday, 5 September 2013 12:46 by Info@YesVirginia.org
Service Center Metals recently celebrated 10 years of doing business in Prince George County, Va. The ceremony, attended by Lieutenant Governor Bill Bolling, included a ground-breaking celebration for a second plant at the SouthPoint Business Park location...

Service Center Metals recently celebrated 10 years of doing business in Prince George County, Va. The ceremony, attended by Lieutenant Governor Bill Bolling, included a ground-breaking celebration for a second plant at the SouthPoint Business Park location.

Service Center Metals was founded in 2002 by three former Reynolds Metals executives to produce aluminum extruded products. As its name implies, Service Center Metals has chosen to focus exclusively on a unique niche—service center customers. 

After weathering the ups and downs of the last 10 years, the company now boasts more than 120 employees and $145 million in revenue. Since its opening, Service Center Metals has produced more than 635 million pounds of extrusions.

The company’s expansion includes a compact remelt plant that will be located adjacent to its extrusion plant. Currently, Service Center Metals must ship its aluminum scrap to and from a third-party provider to be remelted. Bringing this process in-house will allow the company to better recycle its scrap materials, as well as serve its customers more quickly and in an environmentally-friendly way.

As a home-grown manufacturing company, Service Center Metals is a strong example of the success entrepreneurs experience when they start a business in the Commonwealth. To learn more about Virginia’s innovative business environment, click here.

Lieutenant Governor Bill Bolling (left center) joins company and local officials at the Service Center Metals ground-breaking ceremony in Prince George County, Va.

2013 ALEC-Laffer State Economic Competitiveness Index Ranks Virginia No. 5 in Economic Outlook

Wednesday, 21 August 2013 16:23 by Info@YesVirginia.org
In its sixth edition of Rich States, Poor States, the American Legislative Exchange Council (ALEC) recognized Virginia at No. 5 in its 2013 Economic Outlook ranking...

In its sixth edition of Rich States, Poor States, the American Legislative Exchange Council (ALEC) recognized Virginia at No. 5 in its 2013 Economic Outlook ranking.

The Economic Outlook category measures how a state is expected to perform in the future based on 15 policy areas controlled at the state level. The study points out the direct correlation between policy decisions and a state’s level of economic competitiveness.

Virginia has historically performed strongly in the Economic Outlook category—in five out of the last six years the Commonwealth has scored in the top five.

Virginia was the only state in the mid-Atlantic to break the top 10.

Rich State, Poor States highlights some of Virginia’s pro-growth policies that enabled it to achieve a top ranking. The Commonwealth’s pro-growth tax policies, fairness of its legal system, low workers’ compensation costs and right-to-work status were among the reasons Virginia’s economic outlook remains strong.

In addition, Virginia offers companies a corporate tax rate of six percent that remains unchanged since 1972, electricity costs below the national average, and the second lowest unemployment insurance tax rate in the nation.

Virginia has been providing companies with the right location and resources to succeed for more than 400 years. To learn why the Commonwealth continues to receive top accolades, click here.

VEDP Launches ‘Going Global’ Initiative for Defense Companies

Tuesday, 13 August 2013 14:45 by Info@YesVirginia.org