Virginia Capitol

S P O N S O R   S P O T L I G H T

The birthplace of modern America, Virginia has created one of the warmest business climates in the world. The Commonwealth continues to pioneer innovation, launching contemporary programs that leverage a first-rate educational system, enhance homeland security and bolster economic development approaches for the 21st century.

Virginia is where the Internet was born, and stands as a leading center of software development. The Commonwealth is one of four U.S. states currently licensed and capable of launching communications satellites and other commercial payloads into space, is home to the largest number of security-cleared employees and touts seven university research parks that offer private companies cooperative relationships.

Virginians provide a vast array of services and manufactured goods to customers throughout the world. Our manufacturing base continues to be strong, producing everything from steel beams and wood flooring to semiconductors, robots and rocket engines.

In FY05, the Virginia Economic Development Partnership (VEDP), the state's marketing organization, attracted $3.21 billion of investment by new or existing companies to the Commonwealth, as well as 49,485 new jobs. VEDP's strategy of targeting corporate headquarters, financial and insurance services, and the defense industry generated more than 13,700 jobs and $1.5 billion in capital investment.

Virginia Governor Tim Kaine and MeadWestvaco CEO John Luke

Significant corporate headquarters projects that have located in Virginia include MeadWestvaco Corporation (NYSE: MWV), a global packaging company; Wolseley, the world's largest specialist trade distributor of plumbing and heating products; and McAirlaid's Vliesstoffe GmbH & Co. KG, a German manufacturer of non-woven composite materials.

Virginia's right-to-work law, recruitment training programs, programs designed to help businesses increase international sales, and overall pro-business climate are among the reasons why companies choose the Commonwealth to grow their business success.

Virginia also offers connections to the world economy in a way that other states don't. Washington Dulles International Airport's 11,000-acre state-of-the-art facility offers non-stop service to 117 destinations; 39 being international. In 2005, the airport served 27 million passengers on 30 different airlines. For ocean transportation, the Port of Virginia is one of the largest in the Southeast and is growing at a rate faster than any port on the East Coast. The port transports more intermodal containers to more cities faster and more efficiently than any other port in the United States. Cargo moves quickly to and from the port through direct access to major U.S. interstate highways and direct, daily, intermodal rail service. This activity has stimulated an explosion of distribution centers in Virginia that include Wal-Mart, Cost Plus, Hewlett Packard, Home Depot and QVC Network Inc.

Port of Virginia

The Port has lent itself to Virginia's success in international trade. Total merchandise exports, which include manufactured goods, coal and tobacco, reached $12.22 billion in 2005, an overall growth of 5.03 percent over 2004. This volume qualifies Virginia as the 25th largest exporting state in the U.S. in 2005. Virginia exported to 209 countries in 2005. Canada, with $2.59 billion in purchases, was the top buyer of Virginia goods and services for the ninth year in a row.

Virginia is especially proud of its history. The Commonwealth will celebrate its accomplishments past, present and future in 2007 with the 400th anniversary of America at Jamestown. Virginia's quadricentennial has the potential to increase tourism, expand economic development and renew awareness of all that Virginia has to offer.

For more information about the benefits of doing business in Virginia, visit www.YesVirginia.org or call the Virginia Economic Development Partnership at (804) 545-5700.