Virginia Department of Business Assistance (VDBA)

1. Our Role in Virginia’s Workforce Development System Tina Wade October 14, 2010 Virginia Department of Business Assistance (VDBA) www.vdba.virginia.gov

2. Virginia Department of Business Assistance • Created by the Virginia General Assembly in 1996 • Provides a one-stop-service for technical assistance related to: • business formation • access to capital • 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

3. Virginia Department of Business Assistance 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

4. Mission 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. www.vdba.virginia.gov

5. Program History • Started in 1965 • Virginia’s 2nd oldest economic development incentive program • Grown From 30 to ~500 Projects per Year www.vdba.virginia.gov

6. Partnering with the Economic Development/Workforce Community • 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 www.vdba.virginia.gov

7. Allies • 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 www.vdba.virginia.gov

8. New and Existing Business Incentives • The Governor’s Opportunity Fund • The Virginia Jobs Investment Program • The Virginia Small Business Finance Authority • Virginia Business Information Services www.vdba.virginia.gov

9. Virginia 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

10. Eligible 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

11. Governor'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

12. Virginia Small Business Financing Authority • 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

13. Goals 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. www.vdba.virginia.gov

14. CUSTOMER SATISFACTION Cultural Values High Quality Non-Bureaucratic Continuous Improvement www.vdba.virginia.gov

15. Customer 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

16. Program Activity Last Five Years • 70,351 Jobs Created or Retained • 2,550 Projects Fiscal Year 2009 • 14,587 Jobs Created or Retained • 458 Projects www.vdba.virginia.gov

17. Projects by PDC - FY09 458 Total Projects 19 90 3 73 8 12 1 1 1 56 32 27 6 3 17 8 32 3 18 20 12 www.vdba.virginia.gov

18. Jobs by PDC - FY09 14,587 Total Jobs Created or Retained 1,822 2,021 53 639 523 2 179 0 114 1,930 2,643 429 21 147 319 183 1 444 1,685 1,171 261 www.vdba.virginia.gov

19. For more information: Tina N. Wade Project Manager, Virginia Jobs Investment Program 804-305-6654 tina.wade@vdba.virginia.gov