Gov. Bob McDonnell has released a report that will be used in marketing the commonwealth to companies in the cyber security field.
Virginia currently has more than 300 cyber security-focused companies and is home to many related federal agencies including the CIA, the Pentagon, Defense Advanced Research Projects Agency (DARPA) and the U.S. Army Cyber Command.
“This new marketing effort will take the Virginia story and help ensure that when a company is looking at cyber security, they start in the commonwealth,” McDonnell said in a statement in releasing the report “Virginia’s Innovation Ecosystem: The Trusted Leader in Growing Cyber Security Solutions.”
Federal spending for cyber security is expected to reach $13.3 billion by 2015, and the 2012 Department of Defense budget for cyber security is $3.2 billion.
Cyber security spending topped $60 billion globally last year and is expected to grow at a rate of almost 10 percent annually for the next three to five years.
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