Highlights: Foreign-owned Firms

Where We Are Now:

• Today in Virginia, foreign-owned firms are present from more than 40 countries, account for more than 130,000 Virginia jobs, and represent more than $5 billion dollars in investment.
• There is no process in place to build relationships with foreign-owned firms once they are located in Virginia.
• The information that foreign-owned firms need is not centralized in one location.

Where We Can Be:

• The Commonwealth offers integrated services and information to foreign-owned firms.
• We have a cohesive and effective program to attract foreign-owned firms.

2008 Initiatives:

• Add easy-to-navigate content to Virginia’s online portal.
• Create a referral process for the suppliers of foreign-owned firms already located in Virginia.
• Publish a quarterly newsletter.

View the three-page 2007 VITAL task force report on this topic or a compilation of all the 2007 VITAL report task forces recommendations.