virginia department of business assistance (vdba)
DESCRIPTION
Our Role in Virginia’s Workforce Development System Tina Wade October 14, 2010. Virginia Department of Business Assistance (VDBA). Virginia Department of Business Assistance. Created by the Virginia General Assembly in 1996 Provides a one-stop-service for technical assistance related to: - PowerPoint PPT PresentationTRANSCRIPT
www.vdba.virginia.gov
Virginia Virginia DepartmentDepartment of Business of Business Assistance (VDBA)Assistance (VDBA)
Our Role in Virginia’s Our Role in Virginia’s Workforce Development Workforce Development
SystemSystem
Tina WadeOctober 14, 2010
www.vdba.virginia.gov
Virginia Department of Business Virginia Department of Business AssistanceAssistance
Created by the Virginia General Assembly in 1996
Provides a one-stop-service for technical assistance related to:
o business formation
o access to capital
o workforce development Works with existing businesses as they grow
their workforce and mentors entrepreneurs from ideas to launching their first business venture
www.vdba.virginia.gov
Virginia Department of Business Virginia Department of Business AssistanceAssistance
To accomplish the objectives set forth in Governor McDonnell's Economic
Development and Jobs Creation agenda, VDBA has provided $1.37 million in
financing for Virginia businesses, provided technical assistance to over 16,250
businesses and will host over 60 Entrepreneurial Workshops statewide this
year.
www.vdba.virginia.gov
Support the creation of jobs for the citizens of Virginia by reducing the up-front human resource development costs
for new and expanding companies throughout the
Commonwealth.
MissionMission
www.vdba.virginia.gov
Program HistoryProgram History
Started in 1965
Virginia’s 2nd oldest economic development incentive program
Grown From 30 to ~500 Projects per Year
www.vdba.virginia.gov
Presentations to Prospects Requests for Proposals
Letter of Commitment Cost Avoidance
Virginia ranked #1 State For Business by Forbes.com for the last four years. VJIP was cited in the Forbes article as a best practice!
Partnerships on Special Projects Building pipeline of skilled trades professionals Creating workforce of the future to help attract new
types of industries and support existing business expansions into these new fields
Partnering with the Economic Partnering with the Economic Development/Workforce CommunityDevelopment/Workforce Community
www.vdba.virginia.gov
Governor, Lieutenant Governor, and Cabinet Secretaries (esp. Commerce & Trade)
Virginia Economic Development Partnership Regional & Local Economic Development
Offices Virginia Community Colleges Virginia Employment Commission Workforce Investment Boards Vocational Education Virginia Colleges & Universities Social Services Virginia Companies
AlliesAllies
www.vdba.virginia.gov
New and Existing Business New and Existing Business IncentivesIncentives
The Governor’s Opportunity Fund
The Virginia Jobs Investment Program
The Virginia Small Business Finance Authority
Virginia Business Information Services
www.vdba.virginia.gov
Virginia Jobs Investment ProgramVirginia Jobs Investment Program
2nd oldest state incentive (formerly Workforce Services)
Most frequently used state incentive Focus = customized recruitment and
training assistance for qualifying Virginia companies
Work with about 500 companies per year to assist with recruitment and training of about 15,000 Virginians
www.vdba.virginia.gov
Eligible Business SectorsEligible Business Sectors
For Profit Companies in: Manufacturing Distribution Centers Corporate HQ for Companies with
Multiple Facilities Inbound Call Centers Information Technology – B2B Only Research & Development Facilities
www.vdba.virginia.gov
Governor's Opportunity FundGovernor's Opportunity Fund
Discretionary funds available to the Governor to secure a business location or expansion project for Virginia. Grants are awarded to localities on a local matching basis with the expectation that the grant will result in a favorable location decision for the Commonwealth.
www.vdba.virginia.gov
Virginia Small Business Financing Virginia Small Business Financing AuthorityAuthority
6 different direct & indirect loan programs: Economic Development Loan fund Private activity bonds Loan guaranty program Capital Access program Child Care Financing program Minority loan program
Generally, programs are accessed through local banks like BB&T, Cardinal, M&T, Adams, Business Bank & Virginia Commerce
www.vdba.virginia.gov
MAKE IT EASY By providing a single point of contact for economic development projects to navigate state and local workforce development resources.
FOCUS ON RESULTS By planning and developing solutions for a company’s unique recruitment and training needs.
COMMIT TO LONG-TERM SUCCESS By providing ongoing assistance.
GoalsGoals
www.vdba.virginia.gov
Cultural ValuesCultural Values
CUSTOMERCUSTOMERSATISFACTIONSATISFACTION
Non-Bureaucratic
Non-Bureaucratic High Quality
High Quality
Continuous Continuous ImprovementImprovement
www.vdba.virginia.gov
Customer Satisfaction Survey FY09Customer Satisfaction Survey FY09
99% of customer rate overall program as “Excellent” or “Good”
99% would recommend VJIP participation to another company
“The services offered by VJIP have been very beneficial and has made the state of Virginia our preferred place for business expansion.” -Leonard Tharpe, Brandon Technology Consulting, Inc., Fairfax County
www.vdba.virginia.gov
Last Five Years 70,351 Jobs Created or
Retained 2,550 Projects
Fiscal Year 2009 14,587 Jobs Created or
Retained 458 Projects
Program ActivityProgram Activity
www.vdba.virginia.gov
458 Total Projects
3
6
18
17
20
32
73
19 90
3
12
27
12
3
32
56 1 1 1
8
8
Projects by PDC - FY09 Projects by PDC - FY09
www.vdba.virginia.gov
14,587 Total Jobs Created
or Retained
1
147
1,171
319
444
1,930
639
1,822
261 1,685183
114
429
179
53
2,021
523
212,643
02
Jobs by PDC - FY09 Jobs by PDC - FY09
For more information:
Tina N. WadeProject Manager, Virginia Jobs Investment Program