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VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP YESVIRGINIA.ORG THE ROLE OF ENERGY AND ECONOMIC DEVELOPMENT OCTOBER 2013.

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Presentation on theme: "VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP YESVIRGINIA.ORG THE ROLE OF ENERGY AND ECONOMIC DEVELOPMENT OCTOBER 2013."— Presentation transcript:

1 VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP YESVIRGINIA.ORG THE ROLE OF ENERGY AND ECONOMIC DEVELOPMENT OCTOBER 2013

2 WHAT IS VEDP?

3 Research Business Attraction Business Expansion Communications & Promotions President & CEO Information Technology Fiscal & Support Services HR General Counsel & Legislation International Trade VEDP Organizational Structure

4 TAKE-HOME MESSAGES Businesses have choices and competition is fierce: Site selection is fundamentally a process of elimination Reducing a company’s risks to starting up or expanding, will keep a locality or state in the hunt Being prepared with infrastructured real estate (utilities), increases a community’s competitiveness Being prepared requires alignment and cooperation with stakeholders: public private, local regional, state, federal

5 SITE LOCATION & EXPANSION FACTORS – Market Connectivity – Talent – Depth, Cost, and Delivery Systems – Transportation Infrastructure – Utility Infrastructure – capacity, redundancy and cost – Real Estate – Business Climate

6 ENERGY SECTOR IMPACT IN VIRGINIA The Energy Industry Employs more than 34,000 Virginians Virginia is Home to Over 400 Energy Companies with more than 665 Establishments Across the Commonwealth Direct Economic Output of $15.5 Billion and Supports an Additional $8.3 Billion in Economic Activity In the past 10 years, 102 energy industry projects have announced, creating 4900 jobs and $5.6 billion in capx

7 CENTER FOR POWER ELECTRONIC SYSTEMS – VIRGINIA TECH

8 VIRGINIA’S CURRENT BUSINESS CASE Market proximity Business Infrastructure Operating Cost Advantages Public Partners Skilled & Sector-Aligned Workforce R&D resources Energy Centers

9 Washington Dulles International Airport has Nonstop Service to over 120 Destinations, Including more than 40 International Destinations The Port of Virginia is the Second Busiest Port on the East Coast and the Only One Capable of Handling the Largest Ships in the World Virginia has the 3 rd largest State Maintained Transportation Network Primary Rail Service with CSX and Norfolk Southern MARKET PROXIMITY

10 BUSINESS INFRASTRUCTURE

11 Virginia Department of Agriculture and Consumer Services PUBLIC PARTNERS Virginia Nuclear Energy Consortium Authority Virginia Tobacco Commission Energy Centers

12 34,000 SKILLED & ALIGNED ENERGY SECTOR WORKFORCE

13 R&D – HIGHER EDUCATION

14 R&D – CORPORATE/INDUSTRIAL

15 R&D – FEDERAL ENERGY

16 VIRGINIA’S NATURAL ASSETS Virginia has natural advantages for energy development……… …….. old and new!

17 THE THREE C’S FOR SUCCESS IN ECONOMIC DEVELOPMENT – Coordination Helping each other but not changing the basic way of doing business – Cooperation Common effort and association for the purpose of common benefit – Collaboration To work jointly with others on a common goal that is beyond what any one person or group can accomplish alone

18 TODAY’S PRESENTERS Lisa Perry – Isle of Wight County David Hudgins – Old Dominion Electric Cooperative Roger Bennett – Norfolk Southern Corporation


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