YesVirginia Business Blog

New advancements are being made in the automotive industry with fully electric vehicles expected on the market in 2011. Helping to make those vehicles more efficient, leading science company DuPont has developed a new technology that improves the efficiency of existing lithium-ion batteries. So what does Virginia have to do with DuPont’s new technology? Well, On August 3^rd DuPont, a long-time employer in Virginia, publicized its plans to invest $20 million to establish a facility in Chesterfield County to produce the separators.

The Energain™ separators are the first nanofiber-based polymeric separators that improve safety by allowing high-performance lithium-ion batteries to operate at higher temperatures as well as increase power up to 30 percent. Check out this video by Plastics News- DuPont provides a basic explanation of the components that comprise a lithium ion battery and the application of nanotechnology.

Plastics News: DuPont Develops Polyimide Separator for Lithium-ion Batteries

Virginia prides itself on being a leader in advanced manufacturing and DuPont’s decision is yet another example of our commitment to helping existing Virginia businesses expand their operations. Thomas G. Powell, President of DuPont Protection Technologies said, “DuPont enjoys a great, long-term partnership with Virginia and the technology development it enables enhances our presence here as a major employer.”

Visit our News Center for more information on DuPont’s Investment in Chesterfield County. You can also check out www.yesvirginia.org for more information on economic development in Virginia.

It seems like a lot of what we hear about the state of the U.S. economy is negative; it’s inconsistent, sluggish and unpredictable. But, being hardworking Virginians, we know the Commonwealth is constantly working to expand our economy and raise the quality of life for our citizens. So this week when we got the news that Pollina Corporate Real Estate ranked Virginia the Top Pro-Business State (again) we were thrilled.

The Pollina Corporate Top 10 Pro-Business States study looks at 31 factors focusing on states’ efforts to be pro-business and is one of the most comprehensive examination of states to date.  Virginia’s business friendliness, great tax and regulatory climate, and strong education system are just a few of the reasons we set ourselves apart from the competition and this isn’t the first time—the Commonwealth scored the top spot in 2003, 2007, and 2009. While it’s great to be No. 1 again this year, it’s not the first place ranking that really tells Virginia’s story. Our consistent commitment to economic development, even in a troubled economy, has kept Virginia among the top states for business.

Pollina isn’t the only study to award Virginia top honors. CNBC voted Virginia among the “Top States for Business” again this year. Since the rankings began Virginia has remained a top state, claiming the number one spot in both 2007 and 2009 while receiving second in 2008 and 2010. The fact that multiple sources keep reaffirming Virginia’s Pro- Business climate makes these awards even more noteworthy.

It’s certainly nice to bask in the winner’s spotlight and you can bet that we’ll continue to spread the word about Virginia’s Pro-Business climate, but most importantly, we’ll keep doing what we do best- focusing on ways to make Virginia a better environment for businesses, growth, and economic development.  

This week has been a productive one for economic development in Virginia.

On Wednesday, Governor McDonnell traveled to Lynchburg to personally congratulate The Babcock & Wilcox Company and cut the ribbon on its new engineering facility. The 50,000-square-foot building will house an engineering and design team of up to 200 that is working on the new B&W mPower™ nuclear reactor.

It will be a zero-emission operation, contributing to the reduction of an estimated 57 million metric tons of CO2 during the lifetime of each reactor. In addition, the reactor’s air-cooled condenser, underground containment and small site footprint will help minimize environmental impact.

B&W’s continued innovation in the area of clean energy technologies and its efforts to reduce power plant emissions remain unprecedented in the industry.  The company’s success has helped to put Virginia on the map as a center for nuclear technology.

On Thursday, Lt. Governor Bill Bolling, wearing his Chief Jobs Officer hat, joined business and government officials in King William County to break ground on a 12-mile natural gas pipeline project along U.S. Route 360.

The pipeline will start at the end of the existing trunk line in Hanover County at the intersection of U.S. Route 360 and Walnut Grove Road. It will turn off of Rt. 360 at Mount Pleasant Road and end at the Nestlé Purina facility in Fontainebleu Industrial Park. Construction will begin in May and be completed by the end of the year.

The new infrastructure will allow Virginia Natural Gas to serve the County for the first time and expand Nestlé Purina’s ability to reduce emissions and improve the plant’s operating efficiency.

While neither announcement touted a new company’s entrance into Virginia, both events represent activity that is vital to the Commonwealth’s economic development success. The importance of expansions of existing Virginia companies cannot be underestimated. Their growth and success sends a powerful message to other corporate decision-makers that Virginia is a great place to do business. Last year, about 12,000 of the total 17,000 jobs announced in Virginia were created by existing Virginia companies. About 83 percent of the investment in Virginia in 2009 came from expansion projects.

And whether the project is an expansion or a new company locating in the Commonwealth, appropriate infrastructure is a must. Many industrial projects require natural gas to even consider a location during the site selection process. In the past, King William County was not considered for these projects because this kind of infrastructure was not in place. The new gas pipeline will open doors for the County to compete for a variety of projects for the first time.

Governor Bob McDonnell recently referenced the grand opening of MeadWestvaco’s downtown Richmond headquarters as a source of encouragement.

A state-of-the-art executive office that is open for business and the hustle and bustle of 650 employees is certainly a refreshing change from the doom and gloom of business closures and job losses we’ve been inundated with recently.

MWV’s grand opening comes just days after Charlotte County celebrated the expansion of local, family-owned Morgan Lumber Company, which invested $4.2 million and created 25 new jobs at its Red Oak facility.

And Frederick County is breathing a sigh of relief that Kraft has chosen its local facility to invest $40 million to increase production of its Capri Sun product, creating 100 new jobs.

The corporate world is awakening. Inquiries from consultants working on behalf of companies, and from company decision-makers, are on the rise in Virginia, especially in the manufacturing, data center and energy sectors. The quality of the prospects VEDP is hearing from has also improved.

While we still have a ways to go, economic indicators in Virginia are pointing in the right direction—and that’s encouraging news.