VEDP Receives No. 2 State Economic Development Organization Ranking for 2014

Wednesday, 10 December 2014 14:11 by Info@YesVirginia.org
The American Economic Development Institute and Pollina Corporate Real Estate ranked VEDP No. 2 on its Top 10 State Economic Development Organizations list for 2014...

The American Economic Development Institute and Pollina Corporate Real Estate ranked VEDP No. 2 on its Top 10 State Economic Development Organizations list for 2014.

With growing competitiveness on a global scale, AEDI and Pollina wanted to put the spotlight on state economic development organizations that are excelling at their job.

“Leaders of economic development organizations throughout the country need to do a far better job of understanding that their primary objective is to create new jobs and retain those already located in their state,” said Dr. Ronald Pollina, chairman of AEDI and president of Pollina. 

This ranking is largely based on data from Stage II of the AEDI/Pollina Corporate Top 10 Pro-Business States 2014 report released earlier this year. The Stage II data examines the state’s incentive programs and the marketing efforts of their economic development agencies.

More specifically on the marketing analysis, the authors of the study examined the resources devoted to the agencies, their ability to respond to new company inquiries and existing company needs, and the functionality of their website.

Interestingly, the study found that a majority of states had few programs for existing companies and did not devote enough resources to contacting and assisting these existing companies. In contrast, VEDP has an entire team devoted to business expansion, which accounted for 86% of announced investment and 74% of new job creation in calendar year 2013. Even more impressive, the top five project announcements for both new job creation and invested capital in 2013 were made by expanding Virginia companies.

Through our international trade division, VEDP helps existing Virginia businesses expand sales internationally. Programs such as the Global Network, VALET, Going Global Defense Initiative and trade missions provide companies with the research, introductions and export training to substantially increase sales overseas.

The importance of an agency’s website can’t be underestimated, as this is the first point of contact for many companies and site selection consultants. VEDP offers a variety of tools through our website, including VirginiaScan, Compare Virginia, Community Profiles, and the YesVA app, which allow consultants to easily search a geographic area for available properties and obtain comparative demographic, economic and real estate information to easily narrow their search.

According to VEDP President and CEO Martin Briley, “This ranking is a tremendous honor for all of us here at VEDP. It represents the hard work of our entire staff, our partners and our allies as we work together to augment the economic vitality of the Commonwealth and tell the Virginia story on the global stage.”

To learn how VEDP can help your company and why businesses have prospered in Virginia for more than 400 years, click here.

Photo courtesy of the Virginia Department of Transportation.

We’re Pro-Business and We’re Proud

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

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

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

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

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

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

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

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About VEDP

Virginia Economic Development Partnership is the Best State for Business

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

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YesVirginia Business Blog | All posts tagged 'danville community college'

Capstone Integrated Machining Technology Program Comes to Danville

Friday, 20 February 2015 16:07 by Info@YesVirginia.org
The Danville region has added to its precision machining expertise with the recently announced Capstone Integrated Machining Technology program at the Institute for Advanced Learning and Research...

The Danville region has added to its precision machining expertise with the recently announced Capstone Integrated Machining Technology program at the Institute for Advanced Learning and Research.

The program provides a third year of training for students that have completed Danville Community College’s popular two-year Precision Machining Technology program.

IALR has announced two grants in February to jumpstart the program — a $1.9 million grant from the Danville Regional Foundation and a $1 million endowment from the Gene Haas Foundation.

The funding will be used to upfit portions of the Hawkins Building at IALR and construct a workflow cell training lab, allowing students to replicate real world manufacturing conditions.

This additional training will enable students to earn nationally-recognized industry credentials, such as Level II and III certifications from the National Institute for Metalworking Skills.

The Capstone program will be ready for students by the fall semester. IALR and DCC estimate 15-20 students will participate in the first class, with the program expanding to 40 students at full capacity.

With the reshoring of manufacturing jobs to America and an aging baby boomer population, Southern Virginia is quickly becoming a go-to location to meet industry needs for a skilled workforce in this sector of advanced manufacturing.

According to DCC President Bruce Scism, “DCC ‘s Precision Machining Technology program is now the largest in the mid-Atlantic region, and it’s the only one that provides as wide a range of certification options.”

The Capstone program and partnership between IALR and DCC is another example of the teamwork among Virginia’s higher education system and public and private entities to develop the most advanced workforce training solutions. To learn more, click here.

Students in DCC’s Precision Machining Technology program receive training on Haas Mini Mill 5 axis machines.

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.

 

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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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© Copyright 2017

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2014 All rights reserved.