Virginia wins Site Selection’s Competitiveness Award
- April 29, 2010
The Virginia Economic Development Partnership has been recognized for its business competitiveness.
Each year, Site Selection magazine uses 10 quantifiable criteria to recognize the most competitive state-based economic development agency. Criteria is based on business-expansion activity from the previous year.
“State economic development agencies had to work even harder in 2009 to grow existing businesses and to attract new investment and jobs,” Mark Arend, editor-in-chief of Site Selection, said in a statement. “The Virginia Economic Development Partnership’s focus on this challenge has resulted in its first Competitiveness Award, signaling to site selectors that Virginia will compete vigorously for projects and their resulting jobs.”
The 10 criteria include:
· Total new and expanded facilities in 2009
· Total new and expanded facilities in 2009 per 1 million population
· Total capital investment in new and expanded facilities in 2009
· Total capital investment in new and expanded facilities per 1 million population in 2009
· Total new jobs created in 2009
· Total new jobs created in 2009 per 1 million population
· Rank in the corporate real estate executive portion of the 2009 Site Selection Business Climate Ranking
· State Gross Domestic Product per 1 million population
· State unemployment rate February 2010 (U.S. Bureau of Economic Analysis)
· Business Incubation Index component of the Beacon Hill Institute’s State Competitiveness Report (2009)