VEDP, VDACS and VA Department of Forestry provide large Virginia presence at IWF 2016.
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.
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 in Chesapeake, Suffolk and Verona.
Virginia’s strategic central location on the U.S. East Coast and access to the Port of Virginia has made an ideal home for Sumitomo.
To learn why more than 5,500 manufacturing companies like Sumitomo have chosen to locate in Virginia, click here.
Mayor of Chesapeake Alan Krasnoff and Secretary of Commerce and Trade Maurice Jones recognize Sumitomo leadership during the anniversary event.
Virginia is celebrating Business Appreciation Month by showcasing Georgia Pacific and the 125th anniversary of its Big Island paper mill in Bedford County, Virginia.
Georgia Pacific is one of the world’s leading manufacturers and distributors of tissue, pulp, paper, packaging, building products and related chemicals. Located just north of Lynchburg on the James River, Big Island mill is one of four Georgia Pacific locations in Virginia. The other facilities are located in Gladys, Emporia and Ridgeway.
The Big Island mill has been in continuous operation since 1891, when the first roll of paper was produced. The mill has faced ownership changes, fire, floods, and machinery and technological shifts during the past 125 years.
The paper mill’s most recent announcement in 2015 included a $50 million investment to improve reliability and environmental performance and upgrade technology.
To mark the mill’s 125 years of continual operation, Georgia-Pacific has launched a year-long commemoration throughout 2016 to honor the mill’s history, celebrate generations of employees and to thank the community for its enduring support.
The Big Island facility employs about 330 people and is Bedford County’s oldest business. The company credits its success to the community, which helped sustain and support Big Island and generations of families who continue to work at the mill for more than a century.
In addition to a strong manufacturing workforce, Virginia provides Georgia Pacific with a strategic location, offering easy access to the company’s customers. Located on the upper James River, the Big Island location offers employees a high quality of life with close proximity to the Blue Ridge Mountains, scenic hiking and biking trails, and numerous national parks.
As we celebrate Virginia Business Appreciation month, Georgia Pacific’s Big Island paper mill serves as a great example of how Virginia can offer long-term prosperity. To learn why companies like Georgia Pacific call Virginia home, click here.
An undated photo of a maintenance crew working at the Big Island paper mill.
This week, for Business Appreciation Month, we’re highlighting Virginia’s distribution industry and celebrating the positive impact these companies bring to the Commonwealth.
Virginia's businesses provide services and manufactured goods to customers throughout the world. Our distribution base remains strong and continues to grow with companies like The Home Depot, Best Buy, Target, Wal-Mart, Ace Hardware and Amazon.com all delivering goods from the Commonwealth.
Increasingly, retailers and distributors are taking advantage of Virginia's proximity to Eastern U.S. and Midwest markets. Millions of square feet of new warehousing space have been added at new distribution centers around the state.
In the past decade, 365 global logistics industry projects have announced capital investment of more than $1.8 billion and the creation of over 16,500 new jobs.
The Commonwealth is within a one-day drive time of approximately 43 percent of the U.S. population and over 186,000 manufacturing establishments. With our central East Coast location, Virginia is an obvious choice for many companies looking to establish or expand distribution centers.
In 2012, The Vitamin Shoppe announced a $39.4 million investment to establish a distribution center and create 174 new jobs in Hanover County. The 312,000 square-foot facility has become the company’s flagship distribution center featuring a state-of-the-art conveyor and picking and packing systems to move products from storage shelves throughout the facility to shipping bays.
McLane Foodservice Distribution, located in Prince William County, services restaurants in the Mid-Atlantic region. With two expansions in the last 10 years, the 223,000 square foot facility has three different temperature controlled areas—freezer, refrigerated and dry—in addition to employing more than 160 people.
As part of Virginia Business Appreciation Month, the distribution and global logistics industry is a great example of success due to the Commonwealth’s premier location and business environment. To learn more about the distribution industry in Virginia, click here.
The Vitamin Shoppe distribution center in Hanover County, Virginia.
It’s Business Appreciation Month in Virginia, and we’re celebrating by highlighting one of the Commonwealth’s top industries, cybersecurity.
With its close proximity to Washington, D.C., Virginia is part of the nation’s Cyber Capital. As the hub of leading-edge intelligence technology, Virginia serves as a fertile ground for the growing cybersecurity industry. Key federal agencies involved with cybersecurity along with the nation’s leading cyber companies, such as Booz Allen Hamilton, General Dynamics, Lockheed Martin and Northrop Grumman Corp. are located in Virginia.
The Commonwealth is at the center of the IT industry, with 70 percent of the world’s internet traffic passing through Virginia.
On the heels of California, Virginia has the second highest concentration of technology workers in the nation, with nearly 10 percent of the state’s workforce employed by the information technology sector, according to Cyberstates 2015. As a result, Virginia is home to the headquarters of nearly 40 of the Washington Technology Top 100 federal contracting companies.
Reston’s Carahsoft is one of the most successful, fastest growing technology solution providers in the U.S. Founded in 2004, Carahsoft helps government agencies find the best possible technology solution at the best possible value.
NCS Technologies, headquartered in Gainesville, designs, manufactures, distributes and supports its products from a single location for clients including federal agencies, healthcare and schools. Since its founding in 1996, NCS Technologies has become a leading domestic producer of computers, servers and storage systems.
As part of Virginia Business Appreciation Month, cybersecurity represents the high-growth and technological innovation that is alive and well in the Commonwealth. To learn why these companies have found success in Virginia, click here.
Virginia is celebrating Business Appreciation Month in Philadelphia this week by showcasing local breweries during BrewExpo America, the country’s largest craft brewery industry gathering.
America’s beer-brewing tradition began more than 400 years ago in historic Jamestown. Today, more than 130 licensed breweries call Virginia home and have an economic impact of $1 billion. The Commonwealth’s craft brewing industry began to flourish in 2012 when a new state law allowed breweries to sell their beer for on-premises consumption. In 2015, Virginia craft brewers produced 274,111 barrels of beer – 346% more than in 2011.
Across the Commonwealth, communities are engaged in helping the craft beer industry thrive. Virginia Tech hosts the largest, and one of few remaining, barley breeding programs in the eastern U.S. The university is also home to a state-of-the-art, new brewhouse and malting system to support industry research in fermentation and brewing.
The first commercial-scale hops drying and pelletizing facility in the Mid-Atlantic was created by Lucketts Mill & HopWorks at Black Hops Farm in Loudoun County. Michigan-based Pilot Malt House announced the opening of its second artisan craft malting operation in Loudoun County in 2015 at Black Hops Farm. The project is a collaboration between the Commonwealth, Loudoun County and Pilot Malt House and includes funding from the Governor’s Agriculture and Forestry Industries Development Fund.
Richmond’s Hardywood has been a key player in Virginia’s thriving craft beer industry. Founded by lifelong friends, Hardywood has been brewing beer since 2011. The brewery’s beers have earned international praise with medals at the World Beer Cup and Great American Beer Festival in addition to receiving a rare 100 rating by BeerAdvocate Magazine. Hardywood was rated Virginia's Top Brewery by RateBeer.com users and Thrillist.com recognized it as Virginia’s Best Brewery. The Greater Richmond Chamber Business Council awarded Hardywood the Business of the Year Award in 2013.
In Alexandria, Port City Brewing Company opened its brewery in January 2011 to create more options for quality, locally produced craft beer to Northern Virginia. Port City Brewing Company was named Small Brewing Company of the Year at the 2015 Great American Beer Festival in Denver, and has received numerous awards and recognition since 2011.
Virginia is proud to showcase its craft beer assets and local breweries at BrewExpo America. Governor Terry McAuliffe hosted a Virginia craft beer reception along with the Virginia Economic Development Partnership, the Virginia Department of Agriculture and Consumer Services, Virginia’s craft brewing community and our partners.
As we celebrate Virginia Business Appreciation Month, the craft beer industry serves as a great example of the passion and dedication of Virginia entrepreneurs. To learn why the Commonwealth is a great location to grow a business, click here.
Virginia team during BrewExpo America 2016
The Roanoke Valley Region has recently become a magnet for the automotive industry.
Italy-based ELDOR Corporation, a leading automotive supplier of ignition coils and systems, engine and electronic control units and full systems for hybrids, is the latest company to establish an operation in Botetourt County. A major deciding factor for the company was the region’s skilled workforce.
Thanks to Virginia Western Community College’s (VWCC) advanced technology education programs, there is a strong pipeline of skilled workers to serve the area’s growing automotive industry. VWCC offers an Associate degree in Applied Science with a focus on Mechatronic Systems Engineering Technology—a cross-discipline that combines mechanical, electrical and computer engineering to meet high performance manufacturing industry standards. The community college also offers a Siemens Mechatronic Systems Certification Program to prepare students to work in the ever-growing complex technology industry.
Students have access to the Fab Lab at VWCC, giving them digital fabrication resources as a platform for their own innovation and inventions. Automated Manufacturing instructor Daniel Horine showcased VWCC’s impressive equipment and training capabilities following the Governor’s ELDOR announcement last month. Attendees, including ELDOR’s executive team, got a personal tour of the community college’s Fab Lab.
The Mechatronics program at VWCC is a great testament to how higher education works to provide students with industry specific skills and create a steady workforce pipeline for area employers. To learn more about Virginia’s 23 community colleges, located on 40 campuses around the state, click here.
VWCC Automated Manufacturing instructor Daniel Horine gives ELDOR executives a tour of the Fab Lab.
Governor McAuliffe Signs Memorandum of Understanding with South Korea’s Jeollanam-do Provincial Government to strengthen economic and cultural ties.
VEDP joined Virginia Secretary of Commerce and Trade Maurice Jones, Virginia Secretary of Agriculture and Forestry Todd Haymore at the signing ceremony, and look forward to enhancing economic activity.
The Commonwealth and Jeollanam-do Province share a common desire to exchange information to enhance mutually beneficial economic and cultural activity, including research and development, governmental collaboration, and other related activity pertaining to growth industries, including information and communication technology, agriculture, logistics, energy, and other areas within the global market.
Over the past four decades, the Republic of Korea has demonstrated incredible economic growth and global integration to become a high-tech industrialized economy. Today, the Republic of Korea is the world's 12th largest economy, and ranks 12th among Virginia export destinations. Some of the top opportunities for U.S. exporters in South Korea include:
- Aerospace Industry
- Defense Industry Equipment
- Energy: New and Renewable
- Medical Equipment
- Laboratory Scientific Instruments
- Pollution Control Equipment
- Education Services
This agreement solidifies the importance of leveraging partnerships in order to build a new Virginia economy. To learn more about Virginia’s global focus, click here.
Governor Terry McAuliffe and Governor Nak Yon Lee of Jeollanam-do Provincial Government celebrate signing of MOU.
This week, VEDP sponsored and attended the Plastics News Executive Forum in Naples, Florida. We had the opportunity to talk with many of the world’s top plastics processors and share the benefits of doing business in Virginia.
Virginia’s strategic mid-Atlantic location and superior transportation network provide access to 43% of the U.S. population within a one-day (10 hour) drive. These assets combined with our competitive operating costs make an ideal location for plastics companies.
The Port of Virginia is a leading gateway to the global market, offering direct connection to over 100 foreign ports. The Port offers the single best infrastructure on the East Coast with no overhead obstructions, on-dock rail service, easy access to ocean lanes, and is the only East Coast port with Congressional authorization to dredge to 55 feet.
Virginia is home to over 200 plastics companies that employ more than 20,300 Virginians. A few companies who call Virginia home include Rubbermaid, TREX, General Packaging, Klockner Pentaplast, Hanwha Azdel and Variform.
Since 2005, plastics and advanced materials companies have invested $1.01 billion and created more than 4,600 new jobs in Virginia. To learn more about Virginia’s plastics industry, click here.
Panel of plastics professionals during the Plastics News Executive Forum.
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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