Transportation in the Virginia Economy Source: Bureau of Economic Analysis, U.S. Dept. of Commerce.

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Presentation transcript:

Transportation in the Virginia Economy Source: Bureau of Economic Analysis, U.S. Dept. of Commerce

What is the Demographic of Virginia Exporters Employment related to Manufacturing in ,100 jobs tied to manufacturing exports 41,100 tied directly to manufacturing2 58,000 worked in supporting industries 2007 Exporters of record 5,058 Total 4,241 were SME’s (84%)

Foreign Trade Zones FTZ’s normally administered by a public agency with subzones to private manufactures or processors Products shipped into a facility, and stored for reexport with other products or to be blended with domestic products for export or import into the U.S. Operate outside of “Customs” Can avoid or delay paying duties for imported cargos Virginia FTZ include: FTZ No. 20 Suffolk - Virginia Port Authority FTZ No. 137 Washington Dulles International Airport - Washington Dulles Foreign-Trade Zone FTZ No. 185 Culpeper County - Culpeper-County Chamber of Commerce, Inc. FTZ No. 207 Richmond - Capital Region Airport Commission FTZ No. 238 Dublin - New River Valley Economic Development

2007 Foreign Direct Investment in Virginia Employed 157,000 workers in Virginia Major foreign investors: Japan, the United Kingdom, Germany, France and the Netherlands. 23 percent (35,700 workers) were in the manufacturing sector. Contributed 5 percent of the state's total private- industry employment in 2007 Source: U.S. Department of Commerce, Bureau of Economic Analysis