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Economic Development At Virginia Tech


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Economic Development At Virginia Tech

  1. 1. Economic Development at Virginia Tech<br />John Provo, Director <br />Office of Economic Development<br />
  2. 2. Virginia Tech’s Mission Statement<br />Virginia Polytechnic Institute and State University (Virginia Tech) is a public land-grant university serving the Commonwealth of Virginia, the nation, and the world community. The discovery and dissemination of new knowledge are central to its mission. Through its focus on teaching and learning, research and discovery, and outreach and engagement, the university creates, conveys, and applies knowledge to expand personal growth and opportunity, advance social and community development, foster economic competitiveness, and improve the quality of life.<br />2<br />
  3. 3. Virginia Tech’s Strategic Plan<br />Economic Vitality:<br />Connect the university’s discovery, learning, and engagement assets through partnerships with both the public and private sectors to advance the economic vitality of the commonwealth and the quality of life of its citizens.<br />3<br />
  4. 4. A challenge<br />Universities should embrace their roles as economic actors<br />The conventional view of universities in technology-based development is too narrow<br />One-size fits all approach to universities in economic development is unwise<br />Universities need to approach development strategically<br />Richard Lester, Universities, innovation, and the competitiveness of local economies (Industrial Performance Center, MIT, December 2005)<br />4<br />4<br />
  5. 5. Virginia Tech’s response (in part)<br />Commonwealth Center for Advanced Manufacturing, Petersburg<br />Institute for Advanced Learning and Research, Danville<br />Tobacco Commission R&D Centers, Southwest and Southside <br />Virginia Community College collaborations<br />Virginia Economic Development Partnership collaborations<br />Virginia Tech Corporate Research Center, Blacksburg<br />Virginia Tech Research Center-Arlington<br />5<br />5<br />
  6. 6. Virginia Tech Corporate Research Center<br />140 companies and 2000+ employees<br />Phase I includes 120 acres, 27 buildings , and 1 million square feet at 90%+ Occupancy <br />Phase II underway will include 95 acres, 18 buildings, and 1 million additional square feet <br />6<br />
  7. 7. VT KnowledgeWorks<br />Full-service business acceleration center<br />Not an incubator, but offers incubation services<br />60+ active clients at all stages of corporate maturity – concept to cash-out<br />7<br />
  8. 8. Virginia Tech Research Center, Arlington<br /><ul><li>900 Glebe Road
  9. 9. 140,000 square feet
  10. 10. State-of-the-Art Technology</li></ul>8<br />• Developing intellectual property that can be commercialized within the region,<br />• Working closely with industries and the government on applied research focused on critical issues, i.e., helping to solve the knotty problems that require extensive research,<br />
  11. 11. Virginia Tech Research Center, Arlington (cont.)<br />• Bringing to the region access to High Performance Computing and the technical expertise to help educate the workforce in understanding how HPC can revolutionize how to structure and resolve complex problems,<br />• Creating a highly educated pool of graduate students who will live and likely remain in the region, <br />• Bringing thought leaders in science and technical areas to the region to help government and industries stay ahead of the knowledge curve in areas such as energy, cyber-security, informatics, and medical technologies. <br />9<br />
  12. 12. Institute for Advanced Learning and Research (IALR) in Danville<br /><ul><li>Collaborative project with the Commonwealth of Virginia, local governments, the Virginia Tobacco Commission, local educational institutions, and Virginia Tech</li></ul>10<br />
  13. 13. IALR Research Programs<br />11<br /><ul><li>Horticulture and Forestry
  14. 14. Motorsports & Vehicle </li></ul> Performance <br /><ul><li>Robotics & Unmanned Systems
  15. 15. Sustainable Energy</li></li></ul><li>Thought leadership for the state<br />Gubernatorial initiatives (E.g. Virginia Works Program, Life Sciences Strategy) <br />Virginia Tobacco Commission investments in broadband and energy<br />Virginia’s University-Based Economic Development group<br />12<br />
  16. 16. Other Virginia Tech partners<br />Applied Research Corporation<br />Business Technology Center<br />Virginia Tech Intellectual Properties<br />Economic Development Leadership Team <br />13<br />
  17. 17. Office of Economic Development<br />Align resources in the university with those in the public and private sector<br />Create unique partnerships involving actors internal and external to the university<br />Provide critical analytical resources for high impact projects<br />Serve as a “think and do” tank for ideas at various stages<br />14<br />14<br />
  18. 18. US Economic Development Administration (EDA)<br />One of 53 US EDA University Centers<br />Largest in the eastern US<br />Relationships with EDA and other federal agencies<br />15<br />
  19. 19. Workforce development<br /> CREATES<br /> HITE<br />$3.8m US DOL Energy Training Partnership Grant<br />Virginia Tech, Community Housing Partners, 3 Community Colleges, private sector and other partners <br />400+trainees<br />Development of state of the art curriculum<br />$4.7 US DOL Community-based Job Training Grant<br />Virginia Tech, 5 Community Colleges, and other partners including 19 hospitals/systems<br />500+trainees<br />Development of state of the art curriculum<br />16<br />16<br />
  20. 20. Advanced manufacturing<br />TEMCI<br />$1.5 US EDA Community Trade Adjustment Assistance Grant<br />Virginia Tech, GENEDGE, Planning Districts, private sector including Volvo Trucks<br />Estimated 20 technical assistance projects for firms<br />Product development, process improvements, green technology<br />17<br />17<br />
  21. 21. Policy and planning<br />Post-secondary Educational Attainment for Virginia’s Adult Workers (National Governor’s Association)<br />Development of Department of Homeland Security Campus Washington, DC (US EDA)<br />Feasibility studies and plans on topics including: business incubation, technology transfer, and tourism<br />18<br />
  22. 22. Contact<br />John Provo, Ph.D. <br />Director<br />Office of Economic Development (0373)<br />Outreach and International Affairs<br />Virginia Tech<br />702 University City Blvd.<br />Blacksburg, VA 24061<br />Website:<br />Linked In:<br />Twitter:<br />Blog:<br />Tel: 540-231-4004<br />19<br />