Charging Virginia’s Economy


Just a few weeks ago, a reporter contacted VEDP, stunned by the numbers his research returned. Virginia consistently appeared at the top of technology workforce rankings, going head to head with tech savvy states such as California and Massachusetts.

VEDP was not surprised. In the past decade, information technology companies have announced over 70,000 jobs in Virginia and more than $12 billion in pledged investment. Today, the Commonwealth has the second highest concentration of tech employees in the U.S. with over 284,000 employees in the industry. At 9.5 percent, Virginia has the second highest private sector workforce employed by tech companies as well as the fifth highest payroll.

Information technology is undoubtedly a major pillar of Virginia’s economy. From General Dynamics to IBM to Northrop Grumman, a plethora of international tech corporations have chosen the Commonwealth for their operations. And with more than 70 percent of the world’s internet traffic passing through the Metropolitan Area Exchange East in Ashburn, Virginia, the Commonwealth’s data centers are vital for communities and businesses across the globe.

While the IT sector has a presence across all of Virginia, it is strongest in the Northern Virginia region. In addition to the booming cybersecurity and data center industry, tech entrepreneurs are turning to the region to launch their startups.  We sat down with Neil Kataria, founder and CEO of Basket, a smart phone application that allows users to compares prices across local grocery and health stores, to see why he chose Virginia for his startup’s home. In February, the company announced plans to invest $10 million and create 65 new jobs to launch their software application startup.

To read more on Virginia’s booming technology industry, click here.


Ballast Point – Botetourt County

Jobs: 178 | Investment: $47.8 million
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Pacific Life Insurance Company – City of Lynchburg

Jobs: 300 | Investment: $4 million
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SANJO Corte Fino – City of Virginia Beach

Jobs: 85 | Investment: $17.5 million
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Overfinch – City of Danville

Jobs: 41 | Investment: $1.82 million
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SAY "YES" TO VIRGINIA

Basket Founder and CEO Neil Kataria shares why he chose Arlington County for his software app startup.

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VIRGINIA VICTORIES

Business Insider released its list of best and worst states to make a living in 2016. See where Virginia fell on the list.



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