VEDP OVERVIEW OCTOBER 8, 2009. To enhance the quality of life and raise the standard of living for all Virginians, in collaboration with Virginia communities,

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Presentation transcript:

VEDP OVERVIEW OCTOBER 8, 2009

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 building the tax base and creating higher income employment opportunities. MISSION STATEMENT

Stephen R. Adkins Chief, Chickahominy Tribe G. William Beale President and CEO Union Bankshares Corporation W. Clay Campbell President, Martinsville Speedway R. B. Clark Charlotte County Administrator Mark D. Heath President and CEO Martinsville-Henry Economic Development Corporation Hugh D. Keogh President and CEO Virginia Chamber of Commerce Chris A. Lumsden CEO, Halifax Regional Health System Charles H. Majors, Chair President and CEO American National Bank and Trust Company Stuart S. Malawer Distinguished Professor of Law and International Trade George Mason University BOARD OF DIRECTORS

John F. Malbon President and CEO, PAPCO, Inc. David Oliver President, Oliver Cleaning Service Julien G. Patterson, Vice Chair President and CEO Omniplex World Services Corporation A. Carole Pratt, D.D.S. McKinley L. Price, D.D.S. Ike Prillaman Vice Chairman & CMO Norfolk Southern Corporation Ruth Alicia Sandoval CEO, BuisnessconX Samuel A. Schreiber Regional President, Wachovia Bank James E. Ukrop Chairman, First Market Bank Neil D. Wilkin, Jr. President and CEO OpticalCable Corporation Ex-Officio: Richard D. Brown Glenn DuBois Patrick O. Gottschalk BOARD OF DIRECTORS

Business Development Information Technology Executive Director Fiscal and Support Services Human Resources Board of Directors Communications and Promotions International General Counsel Research ORGANIZATIONAL CHART

Division AmountStaff Business Development2,779,27623 International Investment1,637,305 7 International Trade2,705,19619 Research1,819,93914 Communications and Promotions1,342,646 7 Information Technology1,847,79315 Administration2,190,71715 Pass Through Payments 79,087- Total VEDP$14,401, FY 2010 GENERAL FUND OPERATING PLAN BUDGET

VEDP 10-YEAR PRESENT VALUE GENERAL FUNDS

$608 million of investment 3,948 new jobs 42 announcements VEDP-ASSISTED INVESTMENT AND EMPLOYMENT 7/1/09 – 10/5/09

ProjectJobsCapital Investment GOF Approved HEADQUARTERS Bureau of National Affairs (Northern VA)289$110 million$1 million Corporate Executive Board (Northern VA)2,500$227 million$1 million Hilton325$17 million$1 million Mead Westvaco (Central VA)400$80 million$2 million Philip Morris USA – R&D (Central VA)500$300 million$3 million SAIC1,200$25 million$1.5 million Volkswagen of America (Northern VA)401$118 million$1.5 million ADVANCED MANUFACTURING AREVA Newport News (Hampton Roads)540$363.5 million$3 million Canon Virginia (Hampton Roads)1,035$623.5 million$1.5 million Micron Technology, Inc. (Northern VA)860$1.2 billion$2 million Rolls-Royce (Central VA ) (2 projects)642$502.4 million$6 million Swedwood (Southside)740$28 million$3 million Terremark (Northern VA)250$270 million$1 million Totals9,682$4.12 billion$27.5 million MAJOR PROJECTS