Virginia Economic Development Partnership Brussels, Belgium, Europe Richmond, Virginia, USA

1. Virginia Economic Development Partnership Brussels, Belgium, Europe Richmond, Virginia, USA + An excellent partnership! 1

2. Virginia fastfacts • Total area – 110,766 ㎢ (half of the UK) • Capital - Richmond • Total population (2007) > 7,5 million • Civilian labor force (2007) > 4 million(16 years and over) • Foreign-affiliated firms (2007) >800 • Manufacturing companies (2007) > 6,000 • More than11,000 high-tech companies operate in Virginia 2

3. Virginia has it all.... 3

4. Business begins inVirginia! Forbes.com: Best State for Business 2006, 2007, 2008, 2009 Cable Channel CNBC: Top State for Business 2007 Entrepreneur.com: Best State for Starting New Business Pollina Corporate Real Estate Inc.: Top 10 Pro-Business States 4

5. Forbes.com: VirginiaBest State for Business! 5

6. Virginia’s strategic location • Central location along the Atlantic Coast • Nearly 50 percent of the nation’s population and 50 percent of the manufacturing activity are within 1000 kilometers of Richmond • Well-developed transportation system provides access to major markets throughout the United States • The 3rd largest container port on the U.S. East Coast & Inland • Washington Dulles International Airport has nonstop service to almost 130 destinations 6

7. Streamlined environmental permitting process Recruitment training programs Right-to-work law AAA bond rating Ranked among the best in the U.S. Chamber of Commerce’s 2007 State Liability Systems Ranking Study Virginia is for Business 7

8. 버지니아는 기업의 천국 Reasonable workers’ compensation costs Lower than average hourly manufacturing wages Lower than average unemployment tax burden Lower than average building costs Cost advantage: reliably competitive 8

9. 버지니아는 기업의 천국 Virginia has a stable energy resource poolutilizing a variety of sources Average cost per unit of electricity was one third less than national average Utility advantage: reliable resources for less 9

10. 버지니아는 기업의 천국 2 of the nation’s largest railroads have extensive infrastructure:CSX Corporation &Norfolk Southern Corporation 6 major interstate highways provide quick access to the Northeast, Southeast and Midwest 14 commercial airports, includingWashington Dulles International, allow rapid access to home country Transportation advantage: access to global markets • The Port of Virginiaoffers world-class shipping facilities • The Virginia Inland Port in Front Royal serves as an intermodal collection point for containers 10

11. Virginia’s connections to the worldFlight times from Dulles Airport Vancouver 4 hrs. 45 min. Seattle 4 hrs. 35 min. Montreal 50 min. New York 45 min. San Francisco 4 hrs. 40 min. Los Angeles 4 hrs. 35 min. Frankfurt 7 hrs. 30 min. London 7 hours Paris 7 hours Atlanta 1 hour Dallas 2 hrs. 25 min. Miami 1 hr. 45 min. 11

12. Corporate Income Tax Taxes: stable and reasonable • Tax rate of 6 percenthas not been raised since 1972 • Tax credits for job creation • No franchise or net-worth tax • Sales and Use Tax • At 5 percent (4 percent state and 1 percent local), Virginiaranks 7th lowest in the nation • Manufacturers do not pay tax on purchases used for production • Distributors do not pay tax on items purchased for resale 12

13. 버지니아는 기업의 천국 How Virginia supports investors • Governor‘s Opportunity Fund (GOF) • Tobacco Region Opportunity Fund (TROF) • Economic Development LoanFund • Southside Tobacco Region Capital Access Program • Small Business Environmental Compliance Assistance Fund • Virginia Capital Access Program (VCAP) • Enterprise Zone Fund • Various renewable energy and green industry funds • Foreign Trade Zone (FTZ) incentive programs • VALET/AIM – global access marketing programs • International Trade Consultants – global know-how 13

14. 버지니아는 기업의 천국 Enterprise Zone Program 6Foreign Trade Zonesand numerous Subzones Technology Zones in 21 localities Special support for selected areas 14

15. 버지니아는 기업의 천국 15

16. 버지니아는 기업의 천국 Excellent quality of life 16

17. Northern Virginia

18. Richmond, Virginia 18

19. Richmond, Virginia A diverse, resilient economy • Life Sciences (Pharma, Medical Devices, Biotech, Healthcare) • Information Technologies (Telecom/IT/Software/Data Centers) 19

20. Richmond, Virginia A diverse, resilient economy • Creative and Knowledge-Based Services • Logistics (Wholesales, • Warehousing, Transportation) • Finance, Insurance, Securities 20

21. Richmond, Virginia A diverse, resilient economy • Advanced Manufacturing (Advanced Materials and Fibers, Specialty Chemicals, Electro-mechanical Assemblies, Nanotechnologies) QubicaAMF Worldwide Siemens Automotive Corp. Northrop Grumman Newport News Shipbuilding   Areva   Babcock & Wilcox Company   G E Fanuc 21

22. Norfolk, Virginia 22

23. Note: This list is a sampling of major employers in the region (based on the number of employees) and is not intended to be a complete list. 23 Source: HREDA Research

24. Consuls in Hampton Roads Belgium Germany Brazil Iceland Cyprus Italy Denmark Moldova Finland Norway France Romania Sweden 180 international firms representing 27 countries in Hampton Roads means the region has internationally-oriented services and support in place "Other" includes Australia, Belgium, Brazil, Chile, China, Finland, Greece, Hong Kong, India, Israel, Liechtenstein, Norway, South Korea, Spain, Taiwan & Turkey 24 24 Source: HREDA Research

25. Robert McDonnell is sworn in as Virginia governor • McDonnell said that creating jobs was the "obligation of our time" and that he would ease regulations and lower taxes on businesses. • Shortly after being sworn in, McDonnell signed two executive orders that underscored the main themes of his speech. One named a chief job creation officer and established an economic development and job creation commission. The other established a commission on government reform. From his actual inaugural address: • Competition for jobs is intense among the states, and between nations. States are aggressively positioning themselves to best appeal to job creators and entrepreneurs. We must make this the best state in which to start and grow a small business. • It is why we will reduce burdensome taxation and regulation that impedejob-creation. And, it is why, even in these tough times, we will have the foresight to invest today in ideas and policies that increase economic prosperity tomorrow.

26. CCAM (Commonwealth Center for Advanced Manufacturing) A collaborative program between these entities to focus on innovations and improvements that can be applied directly to real manufacturing processes and technologies based on industry needs. The program supports a broad industrial membership of cross-sectoral companies around applied research.

27. Virginia The #1 gateway to successful business in North America We wish you much success in the U.S.A. Matthias Duys Director, International Investment, Europe State of Virginia Avenue Louise 479, box 25, B1050 Brussels, BELGIUM Tel: 32-2-647-7433 Fax: 815-550-2131 Mobile: 32-473-707-734 mduys@yesvirginia.org

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