Reports

State tally shows more than 15,000 new jobs announced

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Economic development projects handled by the Virginia Economic Development Partnership (VEDP) in the last fiscal year were expected to create more than 15,000 jobs, an increase of 46 percent from the previous year.

The 183 projects assisted by VEDP also announced $5.19 billion in capital investment during fiscal year 2014 (which ended June 30), an increase of 92 percent from fiscal year 2013.

By region, the projects included:

• Southwest Virginia: 1,063 jobs; $90 million investment
• Shenandoah Valley: 1,152 jobs; $217 million investment
• Northern Virginia: 5,590 jobs; $1.36 billion investment
• Hampton Roads: 823 jobs; $218 million investment
• Southern Virginia: 1,400 jobs; $566 million investment
• Central Virginia: 5,001 jobs; $2.74 billion investment

Expansions by existing Virginia businesses resulted in 62 percent of the new jobs announced and 43 percent of capital investment.

Manufacturing accounted for 48 percent of job totals and 60 percent of total capital investment.

Data centers represented two-thirds of the nonmanufacturing investment with $1.54 billion.

One sector — professional, scientific and technical services — remains dominant for job growth, accounting for 4,056 jobs.

International investment( $2.34 billion) rose 214 percent from fiscal year 2013, creating 4,425 new jobs (up 92 percent).

VEDP is an economic development marketing organization created by the Virginia General Assembly in 1995.

It has foreign offices in China, Germany, Japan, India and the United Kingdom.


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