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VEDP Organizational Structure HR General Counsel & Legislation Fiscal & Support Services Information Technology President & CEO International Trade Business Expansion Business Attraction Communications & Promotions Research
Take-home messages Businesses have choices and competition is fierce: Site selection is fundamentally a process of elimination Reducing a company’s risks to starting up or expanding, will keep a locality or state in the hunt Being prepared with infrastructured real estate (utilities), increases a community’s competitiveness Being prepared requires alignment and cooperation with stakeholders: public private, local regional, state, federal
Market Connectivity Talent – Depth, Cost, and Delivery Systems Transportation Infrastructure Utility Infrastructure – capacity, redundancy and cost Real Estate Business Climate Site location & expansion factors
Energy sector impact in virginia • The Energy Industry Employs • more than 34,000 Virginians • • Virginia is Home to Over 400 • Energy Companies with more • than 665 Establishments Across • the Commonwealth • • Direct Economic Output of $15.5 Billion and Supports an Additional $8.3 Billion in Economic Activity • In the past 10 years, 102 energy industry projects have announced, creating 4900 jobs and $5.6 billion in capx
Virginia’s Current Business Case Market proximity Business Infrastructure Operating Cost Advantages Public Partners Skilled & Sector-Aligned Workforce R&D resources Energy Centers
Market proximity • Washington Dulles International Airport has Nonstop Service to over 120 Destinations, Including more than 40 International Destinations • The Port of Virginia is the Second Busiest Port on the East Coast and the Only One Capable of Handling the Largest Ships in the World • Virginia has the 3rd largest State Maintained Transportation Network • Primary Rail Service with CSX and Norfolk Southern
Public partners Virginia Nuclear Energy Consortium Authority Virginia Tobacco Commission Energy Centers Virginia Department of Agriculture and Consumer Services
Virginia’s natural assets Virginia has natural advantages for energy development……………..old and new!
Coordination Helping each other but not changing the basic way of doing business Cooperation Common effort and association for the purpose of common benefit Collaboration To work jointly with others on a common goal that is beyond what any one person or group can accomplish alone The Three C’s for success in economic development
Today’s presenters Lisa Perry – Isle of Wight County David Hudgins – Old Dominion Electric Cooperative Roger Bennett – Norfolk Southern Corporation