Highlights: Policy

Where We Are:

• Currently, there is little formal cooperation among state agencies and regional economic development organizations resulting in less-than-optimized international marketing.
• Virginia is at a competitive disadvantage with regard to the ports of South Carolina and Georgia who offer port usage incentives when Virginia has none.
• Virginia does not currently compete effectively for large investment projects (“mega projects”) and a study is currently underway to identify solutions. To be successful, a mega project strategy must be site-driven.

Where We Can Be:

• Virginia can have a cohesive international marketing plan that includes state agencies, economic development organizations and the private sector.
• Virginia can level the playing field with the ports of South Carolina and Georgia by adopting a port usage incentive.
• Virginia can put in place an incentive package, real estate options and rapid approval processes to compete effectively for international mega projects.

2008 Initiative:

• Create a coordinating committee consisting of state agencies to produce a cohesive, annual international marketing plan.
• Lobby for the passage of a Virginia port usage incentive.
• Endorse the “mega project” study recommendations currently being prepared.
• Update Virginia’s posture regarding incentives available for business attraction and expansion.

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