Virginia Receives an A+ for Small Business Friendliness

Tuesday, 17 June 2014 09:35 by Info@YesVirginia.org
Virginia received an A+ on Thumbtack.com’s annual Small Business Friendliness Survey. The Commonwealth improved its rank to the fourth overall friendliest state in the U.S. and the top state on the East Coast...

Virginia received an A+ on Thumbtack.com’s annual Small Business Friendliness Survey. The Commonwealth improved its rank to the fourth overall friendliest state in the U.S. and the top state on the East Coast.

Virginia outshone its surrounding competition for the third year in a row. Maryland received a C- and North Carolina earned a C+. Virginia has never received less than an A since the inception of this ranking.

Thumbtack.com partnered with the Kauffman Foundation to survey more than 12,600 entrepreneurs across the country. This ranking is unique because its results come straight from the comments of small business owners.

“After a two-month survey of thousands of small business owners nationwide, business owners have reaffirmed that Virginia is a premier destination for starting and running a business,” said Jon Lieber, Chief Economist of Thumbtack.com. “Creating a business climate that is welcoming to small, dynamic businesses is more important than ever, and Virginia's A+ grade by its small businesses shows what a welcoming and friendly place the Commonwealth is for entrepreneurs.”

Highlights for Virginia include a No. 3 ranking for ease of licensing regulations, a No. 4 ranking for ease of overall regulations, and a No. 5 ranking for training and networking programs. According to Thumbtack.com, the strongest correlating factor for the perception of small business friendliness is the ease of licensing forms, requirements and fees.

In addition, the study examined 82 metropolitan regions. Richmond was ranked No. 10 overall and Virginia Beach was ranked No. 20 overall. Richmond and Virginia Beach were ranked No. 3 and No. 4, respectively, for ease of licensing regulations.

Entrepreneurs and start-ups are becoming increasingly important for economic growth and organic job creation. According to Thumbtack.com, “Virginia’s small businesses were the third most optimistic in the nation when it came to plans to hire more employees in the next twelve months.”

To learn why Virginia is a great place to start and grow a business, click here.

Center for Advanced Film Manufacturing Established in Window Film Capital of the World

Monday, 9 June 2014 14:50 by Info@YesVirginia.org
The founding of the Center for Advanced Film Manufacturing was recently announced in Martinsville-Henry County during a ribbon-cutting ceremony at Patrick Henry Community College...

The founding of the Center for Advanced Film Manufacturing was recently announced in Martinsville-Henry County during a ribbon-cutting ceremony at Patrick Henry Community College.

Through a public-private partnership, the center will offer a 28-credit Advanced Film Certification Program. Students will take classes at Patrick Henry Community College and New College Institute, while receiving access to hands-on training with machinery and equipment at nearby Eastman Chemical and Commonwealth Laminating & Coating. In March, Eastman Chemical announced plans to acquire Commonwealth Laminating & Coating.

Advanced film experts at Eastman Chemical and Commonwealth Laminating & Coating are advising on curriculum and will participate as part-time instructors. The companies will also offer internships and all graduates of the program are guaranteed an interview at Eastman Chemical.

The Martinsville-Henry County region has become “the window film capital of the world,” producing more than 30 percent of the global supply of coated and dyed film.

Performance or advanced films are terms used to describe any film applied to another material, such as a glass window. Films come in the form of tints, laminates, coating and composites, providing benefits such as tints on car windows to reduce glare, tints on office building windows for privacy, additional strength to industrial windows for security, and the addition of photovoltaic materials to solar panels to capture the sun’s energy.

Students can apply to the Advanced Film Certification Program on the PHCC website, and the first class will commence in fall 2014.

Virginia is home to more than 200 plastics companies, and the Center for Advanced Film Manufacturing will help ensure the Commonwealth has a well-trained workforce pipeline to maintain its leadership in this industry sector. To learn more, click here.

Two employees at Eastman Chemical stand proudly in Martinsville-Henry County, “the window film capital of the world." Photo courtesy of Martinsville-Henry County Economic Development Corp.

RockTenn’s West Point Mill Celebrates 100 Years in Virginia

Monday, 2 June 2014 15:08 by Info@YesVirginia.org
RockTenn recently celebrated 100 years of success at its West Point mill in King William County, Va. The mill produces white top linerboard and recycled medium used in corrugated boxes and other types of packaging...

RockTenn recently celebrated 100 years of success at its West Point mill in King William County, Va. The mill produces white top linerboard and recycled medium used in corrugated boxes and other types of packaging. 

The West Point mill began operations on May 16, 1914, a little over a year after the company was first established as the Chesapeake Pulp & Paper Company. The mill began with 140 employees and a capacity of 20 tons of paper products per day.

Chesapeake Pulp & Paper Company would later become Chesapeake Corp. and the mill would change ownership a number of times before being acquired by RockTenn in 2011. RockTenn is publicly traded (NYSE: RKT) and one of the leading packaging solutions providers in North America.

In 1930, the West Point Mill acquired the first Fourdrinier machine in the South, allowing it to manufacture continuous sheets of paper.  The machine initially created a sheet 218 inches wide, running at a top speed of 1,000 feet per minute. The machine has been updated and is still running today at 2,000 feet per minute.

The mill added paper machine No. 2 in 1964 and machine No. 3 in 1985. Today, the mill employs more than 500 Virginians and produces about 900,000 tons of paper products each year.

In October 2012, RockTenn celebrated completion of an 11-mile pipeline to supply natural gas to the West Point mill, in partnership with Virginia Natural Gas, Dominion Virginia Power, New Kent County, King William County, and the Town of West Point. The company also invested in the mill to make it more efficient, reduce emissions and lessen its carbon footprint.

According to RockTenn General Manager Chris Broome, “We are very excited about the investments RockTenn is making in our West Point mill to continue providing our customers with high-quality products and to better support their needs. We are committed to being a good business partner within the community and value the relationships we have developed throughout the years.”

The West Point mill’s 100 years of success is a notable achievement and represents the longevity and prosperity companies experience in Virginia’s pro-business environment. To learn why companies keep growing in the Best State for Business, click here.

A view of RockTenn’s West Point mill on the York River in West Point, Va. Photo courtesy of RockTenn.

U.S. Foreign Affairs Security Training Center Comes to Virginia’s Fort Pickett

Wednesday, 21 May 2014 14:29 by Info@YesVirginia.org
The U.S. Department of State recently announced plans to establish its Foreign Affairs Security Training Center, known as FASTC, on 1,500 acres at Fort Pickett in Virginia’s Nottoway County...

The U.S. Department of State recently announced plans to establish its Foreign Affairs Security Training Center, known as FASTC, on 1,500 acres at Fort Pickett in Virginia’s Nottoway County.

U.S. diplomats are currently trained at multiple sites across the nation. In May 2008, Congress identified the need to consolidate training at one facility to improve efficiencies and cost savings. 

After a multi-year search, Fort Pickett was selected as the best site over 70 other properties because it met DOS’ operational requirements and offered close proximity to D.C. agencies and the intelligence community.

FASTC will train approximately 8,000 – 10,000 U.S. ambassadors and diplomats sent to foreign countries, sometimes in dangerous locations. The center will initially focus on hard skills training, which includes detecting surveillance, providing emergency medical care, identifying explosive devices, firearms training, and performing defensive driving maneuvers. The 2012 attacks in Benghazi highlight the importance of this training for the U.S. foreign affairs community.

Fort Pickett is the perfect location because the 46,000-acre campus offers plenty of land and a secure environment to build driving tracks, mock urban environments, and firing and explosive ranges. Fort Pickett was established in 1942 and currently serves as the Maneuver Training Center for the Virginia National Guard. While the land is predominantly in Nottoway County, it covers parts of Brunswick and Dinwiddie Counties.

This project is expected to be transformative for the Nottoway County region. The DOS is currently estimating a hard-skills facility will bring $461 million in investment to the area, not to mention additional jobs both onsite and in the community through the multiplier effect.

U.S. Senator Tim Kaine and a group of federal, state and local officials recently visited Fort Pickett to tour the future site of FASTC. The Administration continues to work through budgetary issues and must complete an updated master plan and environmental impact study before construction can begin.

Virginia’s selection as the site for the FASTC project illustrates how the Commonwealth provides the right location, infrastructure and workforce for both public and private entities. To learn more click here.

U.S. Senator Tim Kaine and a group of federal, state and local officials tour the future site of FASTC at Fort Pickett in Nottoway County, Va. Photo courtesy of Virginia National Guard Public Affairs/Cotton Puryear.

The Virginia Tech Carilion School of Medicine Holds Its First Commencement Ceremony

Friday, 9 May 2014 12:07 by Info@YesVirginia.org

The Virginia Tech Carilion School of Medicine will hold its first-ever commencement ceremony on Saturday, May 10 at 8:30 a.m. at the Jefferson Center in Roanoke.

The ceremony will be held for the school’s first 40 graduates, who are all continuing on to a residency. U.S. Senator Tim Kaine, who as a former governor of Virginia signed legislation to support the creation of the new school, will be the keynote speaker.

The Virginia Tech Carilion School of Medicine and Research Institute serves as a model of collaboration between public and private partners. The institute combines Virginia Tech’s sciences, bioinformatics, and engineering with Carilion Clinic’s highly experienced medical staff. The Virginia Tech Carilion Research Institute collaborates with 75 institutions around the world, and has 168 research employees.

In addition, the institute’s unique, patient-centered learning model and small class size allows students to learn through real-life situations with ample student participation. Only 15 percent of medical schools in the U.S. have a patient-centered learning curriculum.

Virginia has a number of nationally recognized medical training and research institutes around the state, including the VCU School of Medicine and the UVA Department of Biomedical Engineering and School of Medicine, and now adds another major medical school in the western part of the state.

Virginia’s nationally acclaimed universities and community colleges, ensure businesses have a knowledgeable and highly trained workforce. The Virginia Tech Carilion School of Medicine and Research Institute is a great example of how Virginia is preparing for jobs of the 21st century. To learn more about Virginia’s more than 100 in-state institutions of higher education, click here.

A view of the Virginia Tech Carilion School of Medicine and Research Institute—located in Roanoke, Virginia.

Commonwealth Crossing Business Centre Breaks Ground in Martinsville-Henry County

Monday, 21 April 2014 15:02 by Info@YesVirginia.org

Last Thursday, a kickoff event was held marking the beginning of development at Commonwealth Crossing Business Centre.

The event at the 740-acre site attracted members of the U.S. Congress, state leaders, local officials, and citizens and neighbors from both Virginia and North Carolina. The CCBC project began in 2007 when Henry County purchased the land. Earlier this month, the grading permit was awarded by the Army Corps of Engineers.

Chairman of the Henry County Board of Supervisors H.G. Vaughn, U.S. Senator Tim Kaine, U.S. Congressman Robert Hurt, U.S. Congressman Morgan Griffith, and Virginia House of Delegates member Danny Marshall delivered remarks. U.S Senator Mark Warner could not attend the event but had his remarks delivered by a member of his staff.

Henry County officials said their plan is to create about 140 to 170 acres of useable pad space for potential companies. Grading work on the site is expected to begin within two to three weeks and it could take up to 18-24 months to complete that work. The Martinsville-Henry County Economic Development Corporation will be the lead agency in marketing the property.

CCBC is a prime location for advanced manufacturing companies, including automotive and aerospace. The business park is located in an Enterprise Zone, which allows companies to apply for special zone grants and incentives. CCBC is located 33 miles from the Piedmont Triad International Airport and is adjacent to the Norfolk Southern Railway Mainline.

Funding partners for CCBC include Henry County, the City of Martinsville, the Martinsville-Henry County Economic Development Corporation, the Tobacco Commission, The Virginia Economic Development Partnership, the Small Business Administration and the Mid-Atlantic Broadband.

CCBC is another example of the pipeline of premier business parks that keeps manufacturing companies coming to the Commonwealth. To learn why manufacturers have invested more than $13.7 billion in Virginia over the last decade, click here.

Federal, state and local officials celebrate the groundbreaking of CCBC, a 740-acre business park in Martinsville-Henry County.

Southern Virginia Advanced Manufacturing Center Receives Additional Funding

Monday, 14 April 2014 15:16 by Info@YesVirginia.org
Halifax County Industrial Development Authority recently announced it has received a $427,500 grant to complete Phase III renovations on the Southern Virginia Advanced Manufacturing Center...

Halifax County Industrial Development Authority recently announced it has received a $427,500 grant to complete Phase III renovations on the Southern Virginia Advanced Manufacturing Center.

SVAMC is located in South Boston, Va., at the former Daystrom Furniture manufacturing plant. Halifax County purchased the facility three years ago, which includes 34 acres and three buildings totaling 430,000 square feet. 

The county has been renovating the site, originally established in the 1960s, and recently added a new, more energy-efficient roof. Phase III renovations will extend natural gas to the site through a collaboration with Columbia Gas of Virginia.

The goal of the project is to provide a manufacturing ecosystem that will draw multiple companies to the area, as well as jobs and investment. The facility will include both advanced manufacturing and hands-on workforce training space for multiple tenants. It is expected to be ready in early 2015.

VEDP helped Halifax County identify the grant from the U.S. Community Advancement and Improvement Program. Matt Leonard, executive director of the Halifax County IDA, emphasized the importance of the funding for the region, commenting, “The USCAIP grant provides benefits beyond its dollar value.”

Advanced manufacturing continues to be a mainstay of Virginia’s economy, with 5,600 manufacturers employing almost 231,000 workers. To learn why manufacturing companies have invested more than $13.7 billion in the Commonwealth over the last 10 years, click here.

A rendering of the Southern Virginia Advanced Manufacturing Center in South Boston, Va. Photo courtesy of Halifax County Industrial Development Authority.

Bioplastics — How One Virginia Company is Making Plastic out of Feathers

Friday, 28 March 2014 11:45 by Info@YesVirginia.org
Eastern BioPlastics has successfully commercialized a process to make plastic out of chicken feathers. By using what was formerly a waste product, the company is making plastic components in a sustainable way...

Eastern BioPlastics has successfully commercialized a process to make plastic out of chicken feathers. By using what was formerly a waste product, the company is making plastic components in a sustainable way.

Co-founders Sonny Meyerhoeffer and Dr. Justin Barone established the company in Mount Crawford, Va., in 2008. They combined Meyerhoeffer’s background as an entrepreneur in the poultry industry with Barone’s engineering expertise as a professor at Virginia Tech to accomplish a difficult task — commercializing R&D into an effective process.

The company replaces up to 50 percent of the petroleum component of plastics with fiber made from chicken feathers. This chicken feather fiber, called feather fiber intermediate, has a number of advantages over petroleum. It is a renewable resource and makes use of something that was previously viewed as a waste product. In addition, the chicken feather fibers are very strong yet lightweight, making them ideal for plastic products.

Eastern BioPlastics has developed a proprietary technique that cleans and processes the chicken feathers in a cost-competitive way. The feather fiber intermediate is blended with polyolefins in a resin, and then extruded into pellet form. These pellets are then sold to original equipment manufacturers that use injection molding to form any number of end products for use in the automotive, furniture and sports equipment industries. The company is currently beta testing this product with customers.

Eastern BioPlastics has also developed a second product called Environmental BioProtector. Feathers are extremely oil absorbent; news coverage of massive oil spills illustrates how birds suffer because the oil becomes trapped in their feathers. The company has developed a product using chicken feathers to help clean up oil spills, from large-scale disasters to consumer use for car oil leaks. Environmental BioProtector is USDA certified and made of 99 percent bio-based material, making it one of the most eco-friendly and low cost oil absorbing solutions on the market today. The company has been selling this product since May 2013.

Creating an entirely new product in 2008 was no easy feat, especially during the economic downturn of 2009-2010. According to co-founder Meyerhoeffer, “Back then nobody wanted to take a chance on anything new. We had to figure out how to break in and create a market with a brand new product.”

When asked why he kept going during these early days, Meyerhoeffer responded, “I was never led to quit and we stayed at it because we knew there was something there that was better. You have to persevere through the tough times. I think a lot of entrepreneurs are that way. You know you’ve got something viable and it’s just about continuing through to the end.”

The founders of Eastern BioPlastics exemplify the entrepreneurial spirit and innovation that’s alive and well in the Commonwealth. To learn what Virginia offers and why it’s a great place to start a business, click here.

Eastern BioPlastics co-founder Sonny Meyerhoeffer displays his Bioplastic Composite Resins made from chicken feathers. 

VEDP Releases Maritime Opportunities Export Report

Thursday, 20 March 2014 14:44 by Info@YesVirginia.org
VEDP just released its Maritime Opportunities Export Report for Virginia. The report was prepared by Old Dominion University as part of VEDP’s Going Global Defense Initiative aimed at helping Virginia defense companies mitigate the impact of sequestration by increasing international sales...

VEDP just released its Maritime Opportunities Export Report for Virginia. The report was prepared by Old Dominion University as part of VEDP’s Going Global Defense Initiative aimed at helping Virginia defense companies mitigate the impact of sequestration by increasing international sales.

This report, geared towards small and medium defense contractors, is timely given current expectations for another BRAC (Base Realignment and Closure) process and the possibility of the U.S. military shifting some assets to the Pacific Rim.

The Maritime Opportunities Export Report gives a high level overview of the process a company would need to follow in order to export defense products or services. For example, one of the first steps a company should take is determining if its product or service is on the U.S. Munitions List or the Commerce Control List so it can obtain the appropriate registration and license to export. The report also provides helpful links to federal resources that govern these procedures.

Recognizing that the most reliable indicator of future trade activity is current trade activity, the report utilized a mixture of historical data on defense import purchases combined with expected growth rates and political and financial stability to determine the export opportunity ranking by country.

The Top 10 markets for U.S. Maritime Exports are:

  1. Japan
  2. Australia
  3. United Kingdom
  4. South Korea
  5. Israel
  6. India
  7. Turkey
  8. United Arab Emirates
  9. Mexico
  10. South Africa

The report also outlines a number of emerging growth markets in the global maritime industry. These include anti-piracy products, services and technology; ship conversions and deactivations; privatized naval security; unmanned underwater vehicles for mining, mapping, environmental testing, route surveying and port surveillance; and C4ISTAR which stands for command, control, communications, computers, intelligence, surveillance, targeting acquisitions and reconnaissance.

To download the report and learn more about VEDP’s Going Global Defense Initiative, click here.

Capital One Celebrates Opening of Chesterfield County Data Center

Wednesday, 19 March 2014 09:09 by Info@YesVirginia.org
Capital One recently celebrated the opening of its newest data center in Chesterfield County. The $150 million project was first announced in June 2012...

Capital One recently celebrated the opening of its newest data center in Chesterfield County. The $150 million project was first announced in June 2012.

This investment represents part of Capital One’s efforts to streamline and automate its IT infrastructure, adding new technologies to continue its reputation for leadership and exceptional customer service.

The 242,000-square-foot facility is scalable for future growth and includes redundant power supply and substantial backup systems to ensure uninterrupted service. It is also LEED Gold certified by the U.S. Green Building Council.

“This new data center is a bold example of the value we place on having the best technology to deliver on our customer mission, and we are proud to continue our strong relationship with Virginia and expand our workforce here,” said Rob Alexander, Chief Information Officer at Capital One.

The company employs more than 15,000 associates in Virginia, drawing on the Commonwealth’s strong IT and professional services labor pool. While the company initially expected to create 50 new jobs related to this investment, Capital One now expects to double that over the next year in Central Virginia.

Capital One was founded in Virginia more than 20 years ago. The company has thrived in the Commonwealth and grown to become a Fortune 500 company (NYSE: COF) and one of the most recognized brand names in the U.S. It is the country’s largest direct bank and 7th largest bank based on deposits.

Chesterfield County was selected for this project due to its proximity to Capital One’s existing operations in the Greater Richmond area. Central Virginia has been part of Virginia’s booming data center industry because it offers abundant power, an advanced fiber-optic network, low risk of natural disaster, and a strong IT workforce.

To learn why approximately 700 data processing, hosting and related establishments have selected Virginia as their home, click here.

The Port of Virginia – the Only Port on the U.S. East Coast Ready Now for Post-Panamax Vessels

Tuesday, 11 March 2014 15:58 by Info@YesVirginia.org
While other ports along the East Coast scramble to deepen their channels in preparation for the Panama Canal expansion, the Port of Virginia stands ready as the only port on the U.S. East Coast currently capable of handling post-Panamax ships as first and last port of call...

While other ports along the East Coast scramble to deepen their channels in preparation for the Panama Canal expansion, the Port of Virginia stands ready as the only port on the U.S. East Coast currently capable of handling post-Panamax ships as first and last port of call.

With 50-foot channels and authorization up to 55 feet, the Port of Virginia offers the deepest shipping channels on the U.S. East Coast, able to accommodate ships greater than 10,000 TEUs (twenty-foot equivalent units). Even just a few feet of channel depth can have a significant impact. 45-foot channels can only accommodate up to 8,500-TEU vessels and 42-foot channels can only accommodate 4,500-TEU vessels.

The Port of Virginia offers prime, unobstructed access to the Atlantic Ocean. This saves valuable transit time and costs, and ships traveling to the Port of Virginia can avoid the hassle of traveling inland, navigating rivers and overhead obstructions like low bridges.

Served by every major shipping line, the Port of Virginia offers direct connection to more than 100 foreign ports and reach to any country in the world. Norfolk Southern and CSX offer on-dock, double-stack intermodal service to markets throughout the Northeast, Midwest and Southeast. Customers also have access to 12 short-line railroads for a total of 3,500 miles of track throughout Virginia. 

The Port of Virginia is one of the largest intermodal networks on the East Coast, handling 2.2 million TEUs in 2013. The Virginia Port Authority operates four owned terminals:  three marine terminals, Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal, and an inland facility, the Virginia Inland Port. VPA also operates two leased marine facilities: APM Terminals and the Port of Richmond.

Norfolk International Terminals is the Port of Virginia’s largest terminal. It houses 14 Suez Class ZPMC cranes, the largest, most efficient cranes in the world. Capable of handling current and future ships, these cranes have a 245-foot reach that can offload vessels loaded 27 containers wide.

APM Terminals is known as the most technologically advanced terminal in the Americas. It automates and optimizes the flow of crane and container movements, and its advanced tracking systems can pinpoint the exact location of every container. Cargo movements are handled by eight Super Post-Panamax ship-to-shore cranes, 30 semi-automated rail-mounted gantry cranes and two rubber-tire gantry cranes with electric spreader bars.

Use the highlighted links to learn more about the capabilities of the world-class Port of Virginia and Virginia’s global logistics network.

Search


Blog Homepage

Return to blog homepage


About VEDP

Virginia Economic Development Partnership is the Best State for Business

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.

Archive

© Copyright 2017

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2014 All rights reserved.
YesVirginia Business Blog | All posts tagged 'Dan Gundersen'

Staying Focused on What Really Matters

Friday, 16 December 2016 14:39 by Info@YesVirginia.org

As 2016 comes to a close, we want to recognize the economic development profession throughout Virginia that works tirelessly for the common good, and in particular, to the dedicated employees of the Virginia Economic Development Partnership Authority (VEDP).

As leaders of the Board of Directors of VEDP—which by anyone’s measure, just experienced its most difficult year of operation since its formation in 1995—we are wrestling with deep problems facing VEDP, the economy and some systemic ones woven into the very fabric of how our Commonwealth approaches economic development. We are, however, optimistic because we know that economic development partners across the state are taking actions necessary to fortify Virginia’s future.

For our part, the VEDP Board is engaged. In 2014, Don Seale, then Chairman of the VEDP Board of Directors, realized that fundamental changes were needed inside the organization.  Don called for the creation of a Chief Operating Officer position and recruited Dan Gundersen to help reset VEDP. Dan’s initial focus was on strategic direction, creative programming, engaging employees, and assuring greater management control and accountability procedures.

We began to peel back the layers of VEDP. Dan Gundersen produced for the Board a first-ever Strategic Review that serves today as the guidepost for a 3-5 year action strategy for VEDP. A new compensation plan was adopted which provided pay equity across positions. We evaluated funding models for 49 other states’ economic development entities, produced new top-line metrics, put in place a robust communications strategy for the external partners and encouraged new avenues for employee input and engagement.   

We (Chris Lumsden and Dan Clemente) succeeded Don Seale as Chairman and Vice-Chairman respectively and the first thing we decided to do was to hear from our stakeholders. We conducted a Listening Tour that involved over 150 economic development professionals, public officials, and business interests in all regions of Virginia and more than 80 counties. We learned that over several years’ time, VEDP’s approach to marketing and deals had alienated many of its stakeholders and contributed to a crisis of confidence.

In March of this year, we asked Dan Gundersen to serve as Interim President and CEO, as well as COO, to help turn around VEDP. He demonstrated great courage and collaborative leadership skills in managing VEDP during a period of serious political stress and organizational crisis. Working with the Board’s Finance and Audit Committee, the VEDP team put in place solid due diligence procedures for discretionary grants, cleaned up twenty years of Governor Opportunity Fund records, and delved into data integrity and integration issues. VEDP also moved its 55,000 square-foot headquarters to new space that saved the Commonwealth over $1.8 million. The new headquarters is designed with open spaces and glass offices and, quite literally, sends a clear message to all that VEDP is a transparent organization that is reinventing itself for the next generation of economic development.   

By mid-summer, again with direct involvement of key Board leaders, input from the Joint Legislative Audit & Review Commission (JLARC) team and independent management consultants, VEDP was prepared to roll out a reorganization. Dan Gundersen successfully led VEDP through the difficult reorganization process, with input from a core planning group, cross-functional work teams, and facilitated focus groups of employees throughout the organization. Three new market-facing divisions were established: Business Investment, Competitive Initiatives and Workforce Development. They operate alongside VEDP’s International Trade team to support businesses.

New management in key spots has infused new energy and determination to have VEDP become recognized as the very best economic development organization in the country. We are pleased that Stephen Moret will join us at the helm in January.

Our work is not over—far from it. But we have laid a solid foundation on which to build a bright future for economic growth in Virginia. This would not have happened without the active support of Virginia’s economic development professionals. We thank you and look forward to continuing to work closely with you as we enter into the new year with renewed confidence and enthusiasm.

Sincerely,

Dan Clemente, Chairman of the Board
Vince Mastracco, Vice-Chairman of the Board
Chris Lumsden, previous Chairman of the Board

Save

Save

VEDP COO Dan Gundersen Awarded IEDC’s 2015 Honorary Life Member Designation

Wednesday, 7 October 2015 16:07 by Info@YesVirginia.org
VEDP Chief Operating Officer Dan Gundersen was awarded the International Economic Development Council’s 2015 Honorary Life Member Designation...

VEDP Chief Operating Officer Dan Gundersen was awarded the International Economic Development Council’s 2015 Honorary Life Member Designation.

Gundersen was presented with the award this past Monday during the IEDC Annual Conference in Anchorage, Alaska. He also served as moderator of the first session at the conference, “How to be a World Class Economic Developer,” where he led a panel with representatives from four continents who discussed innovative approaches and trends in economic development.

“The designation of Honorary Life Member is given by IEDC to an active or former member who is progressing the profession of economic development as a teacher, or, who has motivated others in several communities,” said JoAnn Crary, CEcD, Chair of the International Economic Development Council and President of Saginaw Future Inc. “Mr. Gundersen has been dedicated to our industry and has, indisputably, earned this distinction.”

VEDP created the COO position in the spring of 2014 to manage all day-to-day operations and develop competitive strategies for success. Gundersen was recruited to the job in Virginia due to his deep background as a senior economic development official in three other states:  New York, where he reported directly to the governor, both as Commissioner of Economic Development and as Upstate Chairman for the Empire State Development Corporation; Pennsylvania, where he held the number two job as Executive Deputy Secretary; and Maryland, where he was Assistant Secretary for Business Development.

At the metropolitan level, he led economic and workforce development efforts for Baltimore County, Md., where he produced the county’s first economic development operations strategy, and before that worked in Philadelphia with business leaders and the mayor to form public/private partnerships in impoverished neighborhoods. 

Throughout his career, Gundersen and his teams helped structure deals resulting in the creation and retention of more than 150,000 jobs. These projects include world, North American and regional headquarters facilities.

“As economic developers, our job is to help produce economic growth so that businesses succeed,” said Gundersen. “How we do that is complex. Why we do it, is what really matters. For me, economic development is about making a positive difference in people’s lives and communities. It’s that simple and powerful.”

To learn more about Gundersen’s work at VEDP, promoting Virginia as the location with the right combination of resources that have helped businesses succeed for more than 400 years, click here.

VEDP’s Dan Gundersen to Speak at White House Forum on Economic Development

Wednesday, 29 July 2015 16:00 by Info@YesVirginia.org
VEDP’s COO Dan Gundersen was selected to speak at the fourth annual White House Forum on Economic Development hosted by the International Economic Development Council and SelectUSA...

VEDP’s COO Dan Gundersen was selected to speak at the fourth annual White House Forum on Economic Development hosted by the International Economic Development Council and SelectUSA.

This one-day summit allows a select group of economic development leaders from around the country to directly engage with senior members of the Obama Administration on topics with the greatest potential to impact job creation, such as infrastructure development, international trade and attraction, and manufacturing.

Gundersen will participate on a four-person panel entitled “Targeting and Landing Prospects:  Best Practices in International Attraction,” moderated by Peggy Philbin, Deputy Executive Director and Chief Operating Officer of SelectUSA. He is the only state representative and will be joined by regional economic developers from Phoenix, Minneapolis/St. Paul and southeastern Michigan.

Gundersen will highlight Virginia’s presence around the globe, the Governor’s missions and recent successes of the VEDP team. 

“The White House Forum is a tremendous opportunity to meet with senior officials and discuss ways in which federal, state and local groups can work together to advance economic development and job creation. It’s an honor to be included with such a distinguished group to discuss the challenges facing our nation and the opportunity to broaden our message globally that the U.S. is a great location for business and investment,” said Gundersen.

Virginia will be well-represented as Barry Matherly, President and CEO of the Greater Richmond Partnership, was selected to moderate a panel on the next generation of manufacturing. Matherly also serves as the Vice Chair of the IEDC.

To learn more about Virginia’s unique combination of resources and why more than 700 international companies have chosen to call the Commonwealth home, click here.

Get to Know VEDP’s NEW COO Dan Gundersen

Wednesday, 13 August 2014 13:21 by Info@YesVirginia.org
Dan Gundersen joined VEDP as Chief Operating Officer this May, where his focus is on running the day-to-day operations of VEDP. Dan’s full profile is available in the summer issue of Commerce Quarterly. To help you get to know Dan, here’s an interview we recently did to see how his first few months are going...

Dan Gundersen joined VEDP as Chief Operating Officer this May, where his focus is on running the day-to-day operations of VEDP. Dan’s full profile is available in the summer issue of Commerce Quarterly

To help you get to know Dan, here’s an interview we recently did to see how his first few months are going.

Q:  What has your first 75 days been like?

A:  It’s been focused entirely on the internal operations of VEDP. For many years now, VEDP has operated as a flat organization with the different department heads reporting directly to the CEO. With the recent reorganization and refocusing of VEDP’s initiatives, it became clear that there was a need for a coordinating role to help bring the operations into better alignment and to provide a more targeted and strategic focus for our efforts. And that’s really what my job is all about.

Q:  What specifically have you focused on?

A:  Performance metrics for the economic development profession has been something that I’ve focused on for years now. I’ve served on the board of the International Economic Development Council for a long time and have championed this cause. Recently I co-chaired the first ever performance metric analysis for the economic development profession with the IEDC called Making It Count:  Metrics for High Performing EDOs. The goal there was to be able to identify those metrics that can help us better tell the story of what we do and why we do it. Today it’s not just about jobs created and leveraging public sector dollars. The IEDC report provides more than 200 new measures that economic development groups can use. We’re taking a couple pages out of that book to help VEDP better describe the impact of its work. At the September VEDP board meeting we will introduce several new metrics to be able to assess our progress.

Q:  What does VEDP do really well?

A: In one word — deals. Martin Briley has an incredible ability to focus on the deal pipeline and knows the nuances of every single deal inside and out. He’s living and breathing our Salesforce database, and I think that has helped drive productivity to a very high level. 

Of course, exceeding goals is possible only if you have really good talent among staff, terrific esprit de corps, effective partnerships, and an incredible devotion to what I would call a “cause.” VEDP staff represents one of the most committed organizations that I’ve ever had the privilege of working for. In a way, that makes my job so much easier.

Q:  What challenges do you see ahead?

A:  The world of economic development is changing so quickly and we’re expected to be so many things to so many people. One of our biggest challenges is going to be keeping our focus on those things that we do well, while also being a thought leader and an advocate for the business community, a catalyst for launching new ideas, and even at times a broker of resources for others so that together we can bring about greater economic gain for the state. That’s why it’s important that VEDP develop its own strategic operating plan that builds on regional assets and that aligns seamlessly with the overall economic strategy that the Administration will be producing later this year. Right now, that’s probably my top priority.

Q:  Where are you focusing your efforts for FY15?

A:  The new strategic operating plan will highlight a few areas where we believe we can focus more of our attention and resources. One of those will be with identifying and assisting high growth firms. Research shows that high growth firms in any regional economy account for upwards of 70-80 percent of the net new jobs, and yet, these firms account for less than one percent of all business establishments. You’re going to see VEDP develop a very sophisticated strategy for making sure we are meeting the needs of these businesses better than any other state.

Another area will be an intense focus targeting foreign direct investment and assisting firms that wish to conduct trade in emerging markets around the world.

Finally, VEDP is going to be aggressively positioning itself with brand development and targeted marketing to be able to identify firms that could and should be in Virginia. It’s all about sustained and profitable growth and Virginia has all of those fundamentals to make it happen.

Keep an eye out — this fall we’ll be distributing a live podcast that Dan did for the Atlanta and St. Louis Federal Reserve Banks on the future of economic development.

Search


Blog Homepage

Return to blog homepage


About VEDP

Virginia Economic Development Partnership is the Best State for Business

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.

Archive

© Copyright 2017

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2014 All rights reserved.