LOCAL AND STATE GOVERNMENT ECONOMIC DEVELOPMENT 101<br />Sandy Ratliff<br />Business Services Manager<br />Virginia Depart...
The Virginia Department of Business Assistance<br />VDBA supports economic development in the Commonwealth by working with...
Business Information Services<br />To help businesses get started and to grow.<br />Formation Assistance <br /><ul><li> Vi...
Bridges the 26 state agencies, over 110 regulatory programs and over 300 forms that may touch a Virginia business
Virginia Central Business Portal (www.business.virginia.gov)
Covers registration, taxation, licensing
Interactive business plan available online at www.vdba.virginia.gov or www.vastartup.org
5 Step process to a business plan</li></li></ul><li>Growing Your $ales - State<br /><ul><li>Governor’s Executive Order 33
$5 billion market - State
Access to buyers from 171 state agencies
Additional $5 billion from local governments
575 localities using eVA system.
Small Business Goal – 40%
Over 41,490 registered suppliers
Over 13,065 participating buyers</li></ul>Ask VBIC = 866-248-8814<br />
Examples of Purchasing:<br />Instant Ice Tea<br />01/01/2009 – 12/31/2009 = $23,455.71 - 46 PO’s<br />Novelty – Specialty ...
One–on-One Counseling Sessions<br />Need Based:<br />Accessing New Markets/Sales Growth<br />Tailored Sales Development So...
Entrepreneur Workshops<br /><ul><li>Entrepreneur Express – Targeted to start-up and existing business owners
November 1 - Bristol
December 9 - Independence
Social Media Workshops – Why and how to connect for business.
Upcoming Events =
November  1– Floyd
November 16 – Bristol
Adventure Tourism Workshops – November 5 - Wytheville
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Wythe Bland Leadership Class: Economic Development 101

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What is economic development and why is it important to local and state governments? That was the subject for the Wythe Bland Leadership Class held at the Wytheville Community College in Wytheville, VA. Sandy Ratliff with the Virginia Department of Business Assistance provided an overview of economic development in Virginia and how communities compete for new investment and job creation. Ratliff has over 20 years in economic and entrepreneurship in Rural Virginia.

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Transcript of "Wythe Bland Leadership Class: Economic Development 101"

  1. 1. LOCAL AND STATE GOVERNMENT ECONOMIC DEVELOPMENT 101<br />Sandy Ratliff<br />Business Services Manager<br />Virginia Department of Business Assistance<br />
  2. 2. The Virginia Department of Business Assistance<br />VDBA supports economic development in the Commonwealth by working with new and existing businesses to provide business and economic development communities with:<br />workforce incentives<br />financing<br />business information and counseling<br />state procurement assistance<br />educational opportunities <br />www.vdba.virginia.gov<br />
  3. 3. Business Information Services<br />To help businesses get started and to grow.<br />Formation Assistance <br /><ul><li> Virginia Business Information Center (VBIC) 1-866-248-8814
  4. 4. Bridges the 26 state agencies, over 110 regulatory programs and over 300 forms that may touch a Virginia business
  5. 5. Virginia Central Business Portal (www.business.virginia.gov)
  6. 6. Covers registration, taxation, licensing
  7. 7. Interactive business plan available online at www.vdba.virginia.gov or www.vastartup.org
  8. 8. 5 Step process to a business plan</li></li></ul><li>Growing Your $ales - State<br /><ul><li>Governor’s Executive Order 33
  9. 9. $5 billion market - State
  10. 10. Access to buyers from 171 state agencies
  11. 11. Additional $5 billion from local governments
  12. 12. 575 localities using eVA system.
  13. 13. Small Business Goal – 40%
  14. 14. Over 41,490 registered suppliers
  15. 15. Over 13,065 participating buyers</li></ul>Ask VBIC = 866-248-8814<br />
  16. 16. Examples of Purchasing:<br />Instant Ice Tea<br />01/01/2009 – 12/31/2009 = $23,455.71 - 46 PO’s<br />Novelty – Specialty Advertising Products<br />01/01/2009 – 12/31/2009 = $152,905.34 - 152 PO’s<br />Grounds Maintenance: Mowing, Edging, Plant (Not Tree) Trimming, etc. <br />01/01/2009 – 12/31/2009 = $14,566,567.94 - 1150 PO’s<br />Tires and Tubes, Passenger Vehicles<br />01/01/2009 – 12/31/2009 = $72,103.64 - 7 PO’s<br />Concessions, Catering, Vending: Mobile and Stationary<br />01/01/2009 – 12/31/2009 = $6,187,712.31- 11,757 PO’s<br />Building Maintenance<br />01/01/2009 – 12/31/2009 = $90,611,650.85 - 9285 PO’s<br />Earth Moving Equipment Rental<br />01/01/2009 – 12/31/2009 = $8,573,333.24 -621 PO’s<br />Cleaning Services, Steam & Pressure<br />01/01/2009 – 12/31/2009 = $3,358,694.55- 303 PO’s<br />
  17. 17. One–on-One Counseling Sessions<br />Need Based:<br />Accessing New Markets/Sales Growth<br />Tailored Sales Development Solutions<br />Financing Resources<br />Social Media for Your Business<br />To schedule an appointment, contact:<br />Sandy Ratliff, Business Services Manager<br />276-676-3768<br />Email: sandy.ratliff@vdba.virginia.gov<br />
  18. 18. Entrepreneur Workshops<br /><ul><li>Entrepreneur Express – Targeted to start-up and existing business owners
  19. 19. November 1 - Bristol
  20. 20. December 9 - Independence
  21. 21. Social Media Workshops – Why and how to connect for business.
  22. 22. Upcoming Events =
  23. 23. November 1– Floyd
  24. 24. November 16 – Bristol
  25. 25. Adventure Tourism Workshops – November 5 - Wytheville
  26. 26. Details and registration info available at www.vastartup.org</li></li></ul><li>Virginia JobsInvestment Program<br /><ul><li>Workforce recruiting and training
  27. 27. Create minimum 25 net new jobs within 12 months and capital investment of at least $1,000,000
  28. 28. Minimum entry-level wage of $10.00/hr required. Only full-time jobs are eligible.
  29. 29. Small business workforce recruiting and training
  30. 30. 250 employees or less, hiring at least 5 new full time employees within 12 months of operation and capital investment of at least $100,000
  31. 31. Minimum entry-level wage of $10.00/hr required. Only full-time jobs are eligible.
  32. 32. Retraining
  33. 33. Small businesses that are retooling and installing new technologies
  34. 34. Company must retrain minimum 10 full-time employees. </li></li></ul><li>Financing Programs<br />6 different direct and indirect loan programs<br />Economic Development Loan fund, Private Activity bonds, loan guaranty program, Capital Access program, Child Care Financing program, Minority loan program<br />Generally, you access these programs through your local bank- BB&T, Cardinal, M&T, Adams, Business Bank & Va Commerce<br />
  35. 35. The VSBFA ……<br /><ul><li>Not below market rates
  36. 36. Not a grant- analyze cash flow and collateral </li></ul>VSBFA can help you grow by extending you credit<br />Scott Parson- VSBFA Director, 804-371-8256<br />
  37. 37. Let’s Talk Economic Development<br />
  38. 38. Economic Development– a competitive business.<br />15,000 Economic Development Agencies in US.<br />8,300 in Europe<br />330 in Canada<br />Estimated 70,000 on the planet!<br />In 2009: ($1 m+ investment)<br />2,096 New projects<br />2,098 Expansions<br />*How can rural Virginia compete?<br />
  39. 39. It’s not just build it and they will come<br />…it takes quality of life, education, transportation, utility, tax rates, pro-business regulatory, labor (quantity and quality) and money!<br />
  40. 40. Economic Development 101 <br />County/Community Buy-in<br />Elected Officials<br />Community Leaders & Chamber<br />County Economic Development <br />Wythe Joint IDA<br />Bland EDA<br />Support from regional, state & Federal leaders<br />Economic/Industry Targets<br />Match with Resources<br />Labor Skills/Demographics<br />Transportation Infrastructure<br />Utility (W/S, Electric, Gas)<br />Technology Infrastructure<br />Existing Industry Demographics<br />
  41. 41. REGIONAL ECONOMIC DEVELOPMENT<br />MARKETING ORGANIZATIONS<br />
  42. 42. Economic Development 101…..<br />Develop Product <br />Sites/Buildings<br />Marketing Materials<br />Infrastructure<br />Promotion/Finding Leads<br />Trade Shows<br />Marketing Missions<br />Direct Mail<br />Associations<br />Advertising<br />Social Media<br />Site Selection Consultants<br />
  43. 43. Progress Park<br />1,210 acres<br />I-81 & I-77 within 2 miles<br />Rail Access<br />One of only seven SuperSites in Virginia <br />
  44. 44.
  45. 45. Economic Development 101…..<br />The Visit<br />Local contact team<br />Existing industry leaders<br />Utility/transportation<br />State & Federal representatives<br />Now what………….<br />Project specifications<br />Match location to specs<br />Project cost, land and infrastructure<br /># New jobs created<br />Company investment<br />ROI for County and State<br />Incentives Available<br />The PROPOSAL<br />You WIN /you hope!<br />
  46. 46. Tourism – The Other Economic Development Driver<br />
  47. 47.
  48. 48. Impact of Tourism in VA - 2008<br />19.2 billion in revenue<br />supported 210,620 jobs<br />provided $1.28 billion in state and local tax revenue<br />Wytheville Convention & Visitors Bureau and Regional Visitors Center <br />
  49. 49. A sustainable economy is made up of a diverse mix of small business, industry and a business supportive government environment. <br />It takes all of us working together to be successful.<br />
  50. 50. “If you always do what you’ve always done, You will always get what you’ve always got!”<br />
  51. 51. Contact:<br />Sandy Ratliff<br />The Virginia Department of Business Assistance<br />276-676-3768<br />sandy.ratliff@vdba.virginia.gov<br />Online:<br />Twitter: http://twitter.com/sandyratliffFacebook: http://www.facebook.com/sandy.ratliff<br />LinkedIn - http://www.linkedin.com/in/sandyratliff<br />

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