VEDP overview October 8, 2009
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Transcript of VEDP overview October 8, 2009
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VEDP OVERVIEWOCTOBER 8, 2009
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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
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Stephen R. AdkinsChief, Chickahominy Tribe
G. William BealePresident and CEOUnion Bankshares Corporation
W. Clay CampbellPresident, Martinsville Speedway
R. B. ClarkCharlotte County Administrator
Mark D. HeathPresident and CEOMartinsville-Henry Economic Development
Corporation
Hugh D. KeoghPresident and CEOVirginia Chamber of Commerce
Chris A. LumsdenCEO, Halifax Regional Health System
Charles H. Majors, ChairPresident and CEOAmerican National Bank
and Trust Company
Stuart S. MalawerDistinguished Professor of Law and
International TradeGeorge Mason University
BOARD OF DIRECTORS
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John F. MalbonPresident and CEO, PAPCO, Inc.
David OliverPresident, Oliver Cleaning Service
Julien G. Patterson, Vice ChairPresident and CEOOmniplex World Services Corporation
A. Carole Pratt, D.D.S.
McKinley L. Price, D.D.S.
Ike PrillamanVice Chairman & CMONorfolk Southern Corporation
Ruth Alicia SandovalCEO, BuisnessconX
Samuel A. SchreiberRegional President, Wachovia Bank
James E. UkropChairman, First Market Bank
Neil D. Wilkin, Jr.President and CEO OpticalCable Corporation
Ex-Officio:
Richard D. BrownGlenn DuBoisPatrick O. Gottschalk
BOARD OF DIRECTORS
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BusinessDevelopment
Information Technology
Executive Director
Fiscaland
Support Services
HumanResources
Board of Directors
Communicationsand
PromotionsInternational
General Counsel
Research
ORGANIZATIONAL CHART
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Division Amount Staff
Business Development 2,779,276 23
International Investment 1,637,305 7
International Trade 2,705,196 19
Research 1,819,939 14
Communications and Promotions 1,342,646 7
Information Technology 1,847,793 15
Administration 2,190,717 15
Pass Through Payments 79,087 -
Total VEDP $14,401,959 100
FY 2010 GENERAL FUND OPERATING PLAN BUDGET
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VEDP 10-YEAR PRESENT VALUE GENERAL FUNDS
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• $608 million of investment
• 3,948 new jobs
• 42 announcements
VEDP-ASSISTEDINVESTMENT AND EMPLOYMENT7/1/09 – 10/5/09
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Project Jobs Capital InvestmentGOF
Approved
HEADQUARTERS
Bureau of National Affairs (Northern VA) 289 $110 million $1 million
Corporate Executive Board (Northern VA) 2,500 $227 million $1 million
Hilton 325 $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
SAIC 1,200 $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
Totals 9,682 $4.12 billion $27.5 million
MAJOR PROJECTS