Current State:
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 in our Commonwealth.

Issues Facing Virginia:
• When a foreign company comes to Virginia, resources permit only periodic contact from the Commonwealth to continue to foster the relationship.

• We have an opportunity to do more to retain our international businesses and to recruit their suppliers to conduct business in Virginia. As a result, the company will be more cost- competitive while creating additional jobs and investment for Virginia.

Task Force Goals:
• Create a process to recruit companies that have relationships with foreign-owned firms that are already in Virginia.

• Develop a market strategy to target and expand upon the existing international relationships, both supply-chain-related and other strategic relationships.

• Meet Governor Kaine's goal of increasing foreign direct investment in Virginia to 3,000 jobs and $300 million per year.

Illustrating the Value:
Each international company in Virginia has business relationships with a multitude of companies that supply them with goods and services. Recruiting these companies to Virginia helps to grow industry clusters, benefiting both the existing international company and the Commonwealth.

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