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Keeping Virginia

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Keeping Virginia s Competitive Edge Small Business Legislative Update The Impact On Entrepreneurs Josh Levi Vice President of Policy October 13, 2010 – PowerPoint PPT presentation

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Title: Keeping Virginia


1
Keeping Virginias Competitive Edge Small
Business Legislative Update The Impact On
Entrepreneurs
Josh Levi Vice President of Policy October 13,
2010 jlevi_at_nvtc.org www.nvtc.org
2
Who We Are
  • The Northern Virginia Technology Council Is The
    Membership And Trade Association For The
    Technology Community In Northern Virginia And Is
    The Largest Technology Council In The Nation.

3
Our Membership Companies
  • NVTC Members Are From All Sectors Of The
    Technology Industry Including
  • Aerospace
  • Bioinformatics
  • Biotech/Life Sciences
  • Cyber Security
  • Data Centers
  • Education IT
  • Green IT
  • Health IT
  • Information Technology
  • Internet
  • Modeling and Simulation
  • Nanotechnology
  • Professional Services/
  • Government Contracts
  • Semiconductors
  • Software
  • Systems Integration
  • Telecommunications

4
Size Of Technology Member Companies
By Number Of Employees In Region
5
  • Launched In 2004
  • Educational Programs
  • Mentoring And Advising Opportunities
  • Networking Events And Activities
  • Online Guidance And Resources
  • For More Information Contact Kristin DAmore At
    kdamore_at_nvtc.org

6
NVTC Public Policy Advocacy
  • Focus Since 1991
  • Membership Driven
  • Centered On Tech Industry Needs/Concerns
  • Emphasis On Commonwealth Of Virginia
  • Successes Thrust Virginia Into Broad Technology
    Leadership Position

7
Commonwealth Of Virginia Supports And Promotes
Business
  • Highly Educated Workforce
  • World Class Colleges And Universities
  • Low Tax State
  • Attractive Regulatory Environment
  • Right To Work
  • Reliable And Affordable Energy
  • Access To Ports And International Airport
  • Well Managed State/AAA Bond Rating
  • Open To Innovative Public-Private Partnerships

8
Virginia As National Business Leader
  • Named The Best State For Business By Forbes
    Four Years In A Row (2006-2009)
  • Ranked America's Top State For Business By CNBC
    (2007 And 2009) Took The No. 2 Spot In 2008 And
    2010
  • Ranked No. 1 Pro-Business State By Pollina
    Corporate Real Estate Inc. (2003, 2007, 2009 And
    2010)
  • Ranked The Second Best State For Business By
    Directorship Magazine (2009)
  • Ranked The Second Best State To Start A
    Business By U.S. News And World Report (2009)
  • Ranked The Second Top Overall Growth Performer
    By The United States Chamber Of Commerce,
    "Enterprising States Creating Jobs, Economic
    Development, And Prosperity In Challenging Times
    (2010)

9
  • Virginia As A National Technology Business Leader
  • Private Sector Statistics
  • 1st In Concentration Of High-Tech Workers
  • 2nd For Entrepreneurs Starting Businesses
  • 2nd For Total Federal Procurement
  • 2nd For Fastest Growing Firms
  • 3rd In High-Tech Services
  • 4th For Economic Development For Nanotechnology
  • 4th In Engineering Services Employment
  • 5th In Number Of High-Tech Workers
  • 5th For High-Tech Payroll
  • 5th In High-Tech Employment Growth
  • 6th For High-Tech Average Wages
  • 6th For Number Of High-Tech Firms

Sources 2008 State New Economy Index, National
Science Foundation, Cyberstates 2009 And 2010,
Lux Research, U.S. Census Bureau, U.S. News
World Report, Federal Procurement Data System
10
Technology In Virginia's Economy
2009Q2 VA Employment
2009Q2 VA Wages
31
16
84
69
Total Employment 3,558,351 High-Tech
Employment 585,051
Total Wages 41.68b High-Tech Wages 13.04b
Source CHMURA Economics Analysis, Virginia
Economic Trends, 1st Quarter 2010 Report
11
Technology In Northern Virginia's Economy
2009Q2 NOVA Employment
2009Q2 NOVA Wages
45
27
73
55
Total Employment 1,239,569 High-Tech
Employment 331,183
Total Wages 19,134,180 High-Tech Wages
8,608,377
Source CHMURA Economics Analysis, Virginia
Economic Trends, 1st Quarter 2010 Report
12
Virginia Supports And Promotes Technology
Business
  • Aggressive Computer Crimes Laws
  • Broadband Deployment Policies And Investments
  • Commercial Law To Support E-Commerce
  • Early Leader In E-Government
  • Legacy Of Rejecting Internet Sales And Services
    Taxes
  • State Investments To Build Research Capacity
  • Telework Promotion
  • Technology Procurement
  • Technology Tax Policy And Incentives

13
Dual Emphasis Economic Development Strategy Is
Key
  • Emphasis 1 Enhance Tools To Attract Companies
    Seeking To Relocate, Expand, Establish RD
    Operations
  • Doubled Governors Opportunity Fund
  • 6M To Expand International Marketing Efforts
  • Lower Threshold For Major Business Facility Tax
    Credit
  • Increase Worker Training Incentives
  • Bolster Department Of Business Assistance Program
    Activity
  • State Industrial Mega-Site Fund
  • Green Jobs Tax Credit

14
Dual Emphasis Economic Development Strategy Is
Key
  • Emphasis 2 Employ Comprehensive Grow Your
    Own/New Company Formation Strategy
  • Position Virginia As
  • A Leader In Next-Generation Tech Company
    Formation And Innovation
  • Top Destination For Entrepreneurs, Early Stage
    Investors, Innovators

15
Dual Emphasis Economic Development Strategy Is
Key
  • Emphasis 2 Employ Comprehensive Grow Your
    Own/New Company Formation Strategy
  • Recent Policies Help Promote Virginia As A Top
    Destination For Innovation, Entrepreneurs And
    Small Technology Companies
  • 100 Capital Gains Tax Exemption For Technology
    Investments
  • CIT Early Stage GAP Fund
  • VA Angel Investor Technology Tax Credits
  • VA One Stop Business Permitting Portal

16
Strongly Promote Virginia As A Top Destination
For Innovation And Technology Startups
  • Capital Gains Tax Exclusion
  • 100 Capital Gains Tax Exclusion For Founders And
    Investors In Qualifying Tech Startups
  • 3 Year Window
  • Targeted Toward Statewide Technology,
    Biotechnology, Energy Companies
  • Entrepreneurs And Investors Can Come To Virginia
    To Start And Invest In Early Stage Tech Companies
    Over The Next Three Years With No Long Term
    Capital Gains Tax Liability

17
Promote Virginia As A Top Destination For
Innovation, Entrepreneurs And Small Technology
Companies
  • CIT/GAP Fund
  • 1.5M In Additional Funding To Bolster CITs
    Early Stage GAP Fund
  • Early Stage Fund To Underwrite Critical And
    Immediate First Financing For High Growth, High
    Expectation Early Stage Companies
  • Targeted Toward Statewide Technology,
    Biotechnology, Energy Startups
  • Public-Private Partnerships Model
  • CIT Does Due Diligence And Validates Science And
    Technology
  • Drives Private Sector Capital Investment At A
    Rate Of 13x Public Outlay

18
Strongly Promote Virginia As A Top Destination
For Innovation, Entrepreneurs And Small
Technology Companies
  • Angel Investor Tax Credit
  • Encourage And Leverage Early Stage Investments In
    Technology Startups
  • Targeted Toward Statewide Technology,
    Biotechnology, Energy Startups
  • 50 Of Qualified Business Investments, Up To
    50,000 Credit Per Investor
  • For Calendar Year 2010, Funding For The Program
    Was Increased From 3M To 5M

19
Small, Women- And Minority-Owned Businesses In
Virginia
  • 1975 Virginia Opened Its First Minority Business
    Office
  • 1980s Agencies Began Establishing Goals For
    Minority Business Spending
  • 2003 A Study Commissioned By Governor Warner
    Found That Less Than One-Half Of One Percent (lt
    0.5) Of State Contracts In Virginia Were
    Directed Towards Minority Owned Businesses

20
Small, Women- And Minority-Owned Businesses In
Virginia
  • 2005 Governor Warner Called For The State To
    Direct 40 Of Its Goods And Services Needs To
    SWaM Businesses In Executive Order 103
  • 2006 Governor Kaine Signed Executive Order 33
    Expanding The Commonwealths Efforts To Enhance
    Opportunities For SWaM Businesses
  • Spring 2008 The Commonwealth Reached 40 Goal
    And Number Of SWaM Certified Businesses Up From
    4,000 (2006) To 15,800
  • August 2010 Governor McDonnell Created The
    Governors Supplier Diversity Advisory Board To
    Revitalize Procurement Policy, Expand
    Opportunities To SWaM Businesses

21
Doing Business With VITA
  • Before A Business Can Participate In VITA's IT
    Procurement Activities As A SWaM Certified
    Business, It Must
  • Obtain Certification As A SWaM Business From The
    Department Of Minority Business Enterprise
    (DMBE).http//www.dmbe.virginia.gov/swamcert.html
  • Register With eVA As A VendoreVA Is Virginia's
    Online Procurement Initiative. Current And
    Potential Suppliers Of IT Products And Services
    To The Commonwealth Of Virginia Must Register
    With eVA, At www.eva.virginia.gov.

22
Impact Of Defense Secretary Gates Announced DoD
Cuts On Virginia
  • Deltek Clarity Advisor
  • Cuts Will Hit Federal Professional,
    Administrative and Management Support Services
    (PAMS)
  • The Government Spent 73.3B In The PAMS Category
    In FY2009
  • DoD Spent 45.9B In The PAMS Category In FY2009
  • 10.8B Went To Contracts Performed In Virginia
  • 3.8B Went To Contracts Performed In California

Source CLARITY Advisor, Special Report On DoD
Funding Cuts, Deltek, Inc.
23
Impact Of Defense Secretary Gates Announced DoD
Cuts On Virginia
  • Deltek Clarity Advisor
  • 10 Cut Would Cost Firms Working In Virginia At
    Least  
  • 1.1B In FY2011 ( 11,000 Jobs)
  • 10 Cuts In FY2012, FY2013 To Follow
  • Will Impact
  • Firms Holding DoD Contracts Funded From
  • Federal Supply Group (PAMS)
  • Subcontractors Working For Those Firms
  • Suppliers To Both
  • At Least 200 Firms Receive 90 Or More Of Their
    Prime Contract Funding From This One Category

Source CLARITY Advisor, Special Report On DoD
Funding Cuts, Deltek, Inc.
24
Keeping Virginias Competitive Edge Small
Business Legislative Update The Impact on
Entrepreneurs
Josh Levi Vice President of Policy October 13,
2010 jlevi_at_nvtc.org www.nvtc.org
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