It's finally spring in Virginia, and the warmer weather and sunshine provides the perfect backdrop for showcasing our amazing communities to prospects. I hope your calendars are full of appointments and visits! Big thanks to Brian Shull (City of Harrisonburg), Billy Vaughn (City of Staunton), and their committee who delivered a great Spring Conference in Harrisonburg that shared best practices and innovative ideas around the conference theme:
Your Place - Your Story
. The feedback about the conference has been fantastic and has set a very high bar for our future 2019 meetings.
It is always special to end the Spring Conference with the presentation of the Community Economic Development Awards. Congratulations to this year's impressive group of winners, whose projects and accomplishments inspire us all. The Town of Pulaski, Powhatan County, James City County, and the Northern Virginia communities of Arlington and Alexandria were all named winners in their respective population categories. The Roanoke Region took home an honorable
mention. Fingers crossed for some Commonwealth wins as they move forward to the Southern Economic Development Council (SEDC) regional awards!
Earlier this week, your VEDA leadership team was invited to join Governor Ralph Northam and members of his cabinet as they highlighted more than $15.8 billion investment across 300 economic development projects that have taken place since January 2018. Those projects touch every corner of the Commonwealth, and it is safe to say that our members played a role in the vast majority. VEDA was recognized by our elected and appointed State leaders for our role and support in these accomplishments, as well as for providing leadership on five new bills that will continue to support economic development efforts that were ceremonially signed this week. Congratulations to the Governor and all our state and local partners on these fantastic accomplishments!
And now it's time to turn our attention to summer! Make sure you register for the VEDA Summer Membership meeting in Portsmouth. We are continuing to partner with the Virginia Economic Development Partnership (VEDP) to provide attendees the opportunity to participate in a VEDP local or regional briefing around our VEDA programming, making it well worth your investment of time and resources to attend. Our Membership Meeting co-chairs, Robert Moore (City of Portsmouth) and Courtney Cranor (City of Waynesboro), are finalizing an engaging agenda that builds on our year-long theme of Telling the Virginia Story. Expect to walk away with tips and ideas on how to use numbers, statistics and metrics in your communication efforts.
As VEDA's 2019 president, I could not be more excited to see what we accomplish next- I look forward to seeing you all in Portsmouth!
Stephanie Landrum
VEDA President
Alexandria Economic Development Partnership
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VEDA memberships dues investments are now past due
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If you haven't yet renewed your dues for 2019 let us hear from you. Don't miss out on any member benefits. The VEDA Membership Management System has automatically switched all non-renewals over to Suspended Accounts as of today, March 1st. Send the VEDA office a message to bring your account current. Don't delay!
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VEDA Summer Membership Meeting to be in Portsmouth: Telling Your Story with Numbers
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VEDA's 2019 Summer Membership Meeting will be the second program in the Telling the Virginia Story series and brings a first-rate program to Portsmouth on June 5th. The meeting will kickoff with a reception on Tuesday Night at the Renaissance Portsmouth Hotel. This reception was so popular at the Winter Meeting in Charlottesville, the VEDA leadership decided to make it a permanent fixture at future Membership Meetings. Be sure to come out early and network with VEDA members and guests. Make plans to go to dinner with a group following the reception on Wednesday, be sure to arrive early and network before the program begins at 9:00 am. REGISTER TODAY!
Agenda
Tuesday, June 4
11:00-1:00 pm: VEDA Board of Directors Meeting
By Invitation Only
1:00-5:00 pm: VEDP Local Economic Development Organization Meeting
By Invitation Only--This meeting is for staff of local economic development organizations
5:00-6:00 pm: VEDA Summer Membership Meeting Reception
6:00 pm: Dinner on Your Own
Wednesday, June 5
8:30-9:30 am: Registration and Networking
9:30-12:00 pm: Telling Your Story with Numbers
12:00-1:30 pm: Luncheon/Keynote Address
1:30 pm: Announcements and Adjournment
2:00 pm: VEDP Regional Economic Development Organization Meeting
By Invitation Only -- This meeting is for staff of regional economic development organizations.
Location
Renaissance Portsmouth-Norfolk Waterfront Hotel
425 Water Street, Portsmouth, Virginia 23704
757-673-3000
Be sure to take advantage of the VEDA Group Rate of $134 at the Renaissance Portsmouth Hotel. Room block will close May 20, 2019. Make your reservations today!
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Virginia DoD Procurement Economic Impact Evaluation Model
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Under an Office of Economic Adjustment grant there is a Defense Contract Spending website available to the public. The
Virginia DoD Procurement
Economic Impact Evaluation Model
consists of supply-chain mapping of Department of Defense (DoD) contract awards, including spending and employment impacts by industry and occupation and forecasts by product service codes. The website is designed to provide clear and meaningful state, county, and metropolitan statistical area details about the current and projected economic impacts of DoD contract spending.
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VEDA Member
Fletcher Mangum (
Mangum Economics) published an article on the economics of utility scale solar in the April Issue of VML's Town and City Magazine. CLICK HERE to read the article.
Olga Molnar, Vice President of Global Investment at
the
Greater Richmond Partnership, Inc. (GRP), earned the designation of Certified Economic Developer (CEcD), an international recognition that denotes a mastery of skills in economic development, professional attainment and a commitment to personal and professional growth.
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Corporate Patron Spotlight
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VEDA is fortunate to have the generous support of Annual Corporate Patrons who assist us in bringing great programming, scholarships, professional development opportunities and much more to VEDA members. If you have an opportunity, please thank them for their support of economic development in Virginia.
 Norfolk Southern Corporation
Norfolk Southern Corporation
is one of the nation's premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 20,000
route miles
in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal, automotive, and industrial products.
Old Dominion Electric Cooperative 
Headquartered in Richmond, Old Dominion Electric Cooperative is a generation-and transmission cooperative providing power to 12 electric distribution cooperatives, 10 in Virginia and one each in Maryland and Delaware. Old Dominion's member systems are demographically diverse and range from the sparkling blue Atlantic to the majestic Blue Ridge Mountains and from the bustling suburbs of Washington, D.C. to the rolling, fertile farmland of Southside Virginia. One in ten Virginians receives energy from electric cooperatives, and co-ops serve about a third of the landmass in the three states, including much of the land with the best development potential in the area.
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Southwest Virginia economic development projects to receive pilot grants
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Ten
economic development projects selected for grant approval from the Abandoned Mine Land (AML) Pilot program administered by the Virginia Department of Mines, Minerals and Energy (DMME) and funded by the Federal Power Plus Pilot Program were announced for Southwest Virginia. The projects are located on historic mining sites and include safety and environmental improvements to the Southwest Virginia communities where they are located.
Recommended projects include:
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Locality
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Project
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Award
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Wise County
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Appalachian Homestead
- a unique community offering property rights through community based sustainable farming
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$1,600,000
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City of Norton
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Country Cabin II
- a music venue along the Crooked Road will make improvements to become a year-round site
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$47,420
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Russell County
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Dante Community Redevelopment
- construction of a mountain bike and ATV trail
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$269,000
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Buchanan County
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Ecotourism in Nature's Wonderland
- a scenic vista to view the elk and other wildlife
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$2,254,750
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Tazewell County
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Pocahontas Exhibition Mine
- enhancing the museum experience and creating a visitor tram stop for rides through the mine exhibit
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$379,178
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City of Norton
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Project Intersection
- an industrial site development aimed at attracting new manufacturing businesses
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$1,782,685
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Wise County
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Solar Value
- a large solar project, providing renewable energy to an industrial park tenant, the Mineral Gap Data Center
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$500,000
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Dickenson County
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Splashdam Waterline Extension
- a public water expansion project will improve the quality of life for rural residents affected by historic mining
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$356,500
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Russell County
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Project Reclaim
- an industrial site development aimed at recruiting new business
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$1,645,340
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Wise County
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Enhancing the Mountain View Trail
System - will improve ATV trail between St. Paul and Coeburn
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$222,000
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Virginia received grant dollars to develop AML sites through an amendment to the Federal Omnibus Funding Bill passed in May 2018. The amendment provided $10 million each to Virginia, Ohio, and Alabama, in addition to funding for Kentucky, West Virginia, and Pennsylvania in the underlying bill.
The projects must still undergo a review from the Office of Surface Mining Reclamation and Enforcement (OSMRE) prior to official award. DMME received $10 million phase one funding in 2017 and worked with an advisory council to select five economic development projects.
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The City of Waynesboro wins the 2019 Creative Give Back
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 The winner of the 2019 Creative Give Back is the City of Waynesboro, VA. Their proposal is to creatively link the city's cultural and economic offerings with the natural splendor of Shenandoah National Park and the Blue Ridge Parkway. The four-mile connecting corridor faces numerous redevelopment challenges such as vacant properties, blight, and lack of coherent development vision. They see the "Mountain to Town" project as a pivot point on which many other opportunities will turn. They want a vision and plan to transform and revitalize the corridor. Follow progress on the Waynesboro Give Back Project on the Creative Economic Development Consulting Blog. Check out the best practices for your community! |
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VEDA and Virginia Business partner to promote the magazine's 27th Annual Economic Development Site Locator
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VEDA is again teaming up with Virginia Business to promote the magazine's 27
th Annual Economic Development Site Locator. This special report will appear in the August issue of Virginia Business. Businesses looking for the right spot to locate use the Virginia Business Site Locator.
 Invest in a full or half page display ad, and you can double your message's impact. Virginia Business will match the space with your detailed story that picks up where your display ad leaves off. Send Virginia Business your copy, photos, logo, and they will do the rest. Full-page profile = 450 words; half-page profile = 250 words. Plus: 2-page and 1-page Site Locator advertisers will receive a free ½-page horizontal ad in Virginia Business' October issue-Construction feature or in the November issue - Big Economic Development feature.
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| Theme for 2019:
Telling the Virginia Story
2019 Summer Membership Meeting
Telling Your Story in Numbers
Tuesday, June 4-Wednesday, June 5, 2019
Portsmouth, Virginia
2019 Fall Conference
Tools for Telling Your Story
Wednesday, September 18-Friday, September 20, 2019
Richmond, Virginia
2019 Annual Meeting & Winter Membership Luncheon
Has Your Story Hit its Mark?
Tuesday, December 3-Wednesday, December 4, 2019
Mark your calendar and plan on attending these economic development events in 2019!
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EXECUTIVE COMMITTEE
President
Stephanie Landrum
Alexandria Economic Development Partnership
Vice President
James Noel
York County Office
of Economic Development
Treasurer
Amanda Glover
Augusta County Economic Development
Secretary
Steven Harrison
Virginia Beach Department of Economic Development
Immediate Past President
Kenneth McFadyen
Botetourt County Economic Development
DIRECTORS
Shannon Blevins
The University of Virginia's College at Wise
Voncile Gilbreath
City of Chesapeake
Economic Development
Linda Green
Southern Virginia
Regional Alliance
Garrett Hart
Chesterfield County Economic Development
Amanda Jarratt
City of Franklin
David Manley
Joint IDA of Wythe County
Courtland Robinson
Virginia Economic
Development Partnership
Curry Roberts
Fredericksburg Regional Alliance
Christina Winn
Arlington Economic Development
EX-OFFICIO
Russell Held
The Port of Virginia
Barry DuVal
Virginia Chamber of Commerce
Patrick Gottschalk
Williams Mullen
Jody Keenan
Virginia SBDC Network-George Mason University
Connie Long
Virginia Economic Developers Association
Stephen Moret
Virginia Economic Development Partnership
Erik Johnston
Virginia Department of Housing and Community Development
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Federal Work Opportunity Tax Credits
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Federal Work Opportunity Tax Credits (WOTC) are available to all businesses, yet thousands of dollars go unclaimed every year. The WOTC tax credit can be as much as $2,400 per eligible new hire whether hiring 1 or 1,000 employees. Economic development directors can add this tool to their toolbox by offering local businesses federal incentives in addition to the state and local incentives already offered.
VEDA member, Rodney Haynes serves as the director of economic development for Vrain Corporation, a Virginia based company that administers the Federal WOTC Program nationally.
An example of how WOTC can work:
~A company has 100 employees and experiences 50 percent turnover ~Of the 50 new hires, 20 percent (10 employees) qualify for WOTC ~WOTC max is $2,400 per eligible employee ~Therefore, 10 employees multiplied by $2,400 is $24,000 in federal tax credits in one year
For more information on WOTC call Rodney at 276-403-5083 or via email at [email protected].
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U.S. Treasury Releases Second Set of Proposed Opportunity Zones
Regulations
The U.S. Treasury has released a second set of proposed regulations and additional guidance for the Opportunity Zone Incentive. The proposed regulations address what types of property qualify as qualified OZ business property, steps an OZ business must take to be qualified, the penalty for a qualified opportunity fund's failure to meet the 90 percent investment standard, real property that straddles an Opportunity Zone, clarifying original use definition and more. The U.S. Treasury will accept comments for 60 days. A public hearing has been scheduled for July 9, 2019 for the second set of proposed regulations.
The first set of proposed regulations received a public hearing on Feb. 14 and had more than 200 people in attendance. These regulations should be finalized soon. CLICK HERE to view this first set of regulations, please click here.
Initiative to Encourage Economic Growth in Virginia's Opportunity Zones
Governor Northam has announced that the Commonwealth of Virginia will support a new initiative involving the Virginia Department of Housing and Community Development (DHCD) and the Virginia Housing Development Authority (VHDA) in partnership with Virginia Community Capital (VCC). The goal is to create a marketplace that connects community-identified projects across Virginia with investors who are motivated by OZ tax benefits and the chance to invest in a project that delivers community benefits.
In addition, tools and investment resources will be available to help projects with capital stacking and ensuring deal flow is occurring.
DHCD welcomes your feedback on this initiative, please send your comments to
[email protected]
.
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Thrive 2019: Creating the Future of Bioscience in Virginia
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Every two years leader of the life science industry gather from across the state to connect, celebrate, learn, inspire, imagine, and drive forward the development of R&D and commercialization in Virginia in focused ways.
On Thursday May 2, 2019 more than 400 attendees - leaders of bioscience companies big and small, research universities, policy makers, innovative health care systems, patient groups, CROs and professionals, and others from across Virginia and beyond are expected to gather in Richmond for
THRiVE 2019: Creating the future of bioscience in Virginia.
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