Virginia Allies Meeting April 2, 2009
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Transcript of Virginia Allies Meeting April 2, 2009
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VIRGINIA ALLIES MEETING
APRIL 2, 2009
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VIRGINIA’S TARGET SECTORS
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VIRGINIA’S TARGET SECTORS
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ANNOUNCEMENTS SINCE JUNE 2008
Central Virginia
Hampton Roads
Northern Virginia
Southside Virginia
Southwestern Virginia
Valley
Newport News LLCNewport News LLC
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RETURN ON INVESTED CAPITAL
Parameters• Performance data from FY2002-FY2007 updated semi-annually (current to 2nd qtr. 2008)• 162 projects received GOF year to date• GOF Disbursements – $63.01 million year to date• Total Incentive Grants – $164.99 million (TROF, VJIP, VIP, EZ, etc.) year to date
Results to Date (since FY2002)• Gross Revenue – $1,078,310,000• Net State Revenue – $913,320,000
Projected 10 Year Returns on Existing Companies• GOF Disbursements – $63.31 million• Total Incentives – $232.11 million• Gross Revenue – $2,274,270,000• Net State Revenue – $2,042,160,000• State Benefit to Cost Ratio: $10 to $1
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CURRENT PROJECT DYNAMICS
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VIRGINIA’S GROWTH POTENTIAL
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SCIENCE AND RESEARCH & DEVELOPMENT
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SECURITY & SERVICES
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ADVANCED MANUFACTURING
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TRANSPORTATION & GLOBAL LOGISTICS
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VALET PROFILE OF PROGRAM PARTICIPANTS
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ALL VALET PARTICIPANTS (2002-2009)
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VALET PROGRAM VALUE
Virginia companies use the VALET Program to increase international sales by an average of 88%.