2013 Session

Budget Amendments - HB1500 (Committee Approved)

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Attraction of Emerging Industries (language only)

Item 123 #1h

Item 123 #1h

Commerce And Trade
Virginia Economic Development Partnership

Page 98, after line 39, insert:
"O. The Department of Business Assistance (DBA), the Innovative and Entrepreneurship Investment Authority (IEIA), the Virginia Tourism Corporation (VTC), and the Virginia Economic Development Partnership (VEDP) shall cooperatively develop a marketing campaign to attract and recognize entrepreneurs, small businesses, and emerging industry businesses. This campaign shall include developing (i) a welcome program to facilitate speedy completion of necessary business start-up functions, including licensing, facilities location, employee relocation guides, and business support services; (ii) a recruitment campaign to target industry segments for pursuit, to identify potential incentives for the establishment, location, or relocation of these companies, and to showcase assets such as economic incentives and regional living condition profiles and asset profiles, including universities, technology councils, venture firms, and research institutes; and (iii) an operational plan and schedule to carry out such a campaign. The DBA, IEIA, VTC, and VEDP shall report to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees by November 1, 2013 on any recommendations to implement such a program and enumerate any impediments or costs associated with these activities."

(This amendment directs the state's primary economic development agencies to work collectively to develop a marketing plan to target small and emerging industries to the Commonwealth and report to the General Assembly by November 1 on improvements required to increase the Commonwealth's ability to attract and retain such firms in Virginia.)