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Thank you for taking the time to read the winter 2009 edition of the Gateway Region newsletter with its new revamped design. It has been a busy quarter for the organization as we come to terms with the present economic climate and expand our services to meet new demands. This winter we were proud to make a significant announcement in Chesterfield County, we held our 48th Annual Meeting and began our highly acclaimed Endeavor Gateway Seminar Series. To read about these and other interesting topics please continue reading below.
Endeavor Gateway Seminar Series: Positioning for Change
Recognizing some of the challenges facing our existing industries in this uncertain financial climate, Virginia's Gateway Region premiered a new seminar series in January entitled Endeavor Gateway: Positioning for Change. Throughout 2009 we will be working with our partners to provide the local business community with educational seminars led by area experts from a variety of fields. The first of these seminars was presented by speakers from the law firm of Williams Mullen and focused on understanding new Federal economic and union legislation and how these legislative changes might impact area businesses. The next seminar, held on February 18th, was entitled "How Your Business Can Benefit by Going Green" and featured the speakers McKinney & Company and KOP Architects.
Further details of upcoming seminars can be found on our website under the Endeavor Gateway link on our Partners tab. Please continue to check our website for details regarding future seminars.
Groundbreaking in Chesterfield County
Sabra Dipping Company broke ground in Chesterfield County mid-January, as the company moved one step closer to opening a state-of-the-art food production plant. The facility, based in the Ruffin Mill Industrial Park, will make the award-winning Sabra branded dips and spreads, including the country's best-selling Sabra hummus and vegetable dips. All the products are certified kosher and vegetarian. Virginia successfully competed against two other states for the Sabra Dipping Company project with Chesterfield eventually winning out, helped in part by a $350,000 grant from the Governor's Opportunity Fund. Sabra was formed as a U.S. and Canadian joint venture between Strauss Group and PepsiCo. An estimated 260 new jobs are expected to be created by mid 2010 as a result of this exciting announcement. A video of the groundbreaking, courtesy of Dominion Virginia Power, is available on Chesterfield County's Economic Development website.
State Budget to Receive Boost from the Feds
The Commonwealth is slated to receive $1 billion from the Federal Government to offset its budget losses the Petersburg Progress Index recently reported. The well publicized downturn in state revenues has left the Commonwealth with a significant budget shortfall however, the newly approved Federal stimulus package includes $1.02 billion allocated for Virginia through June 2010. With $800 million already being accounted for to meet the growing demand of Medicaid recipients, about $216 million will be largely discretionary in the state budget the paper reported. The stimulus funds do not include approximately $3 billion in additional funds that will reach Virginia residents and local governments outside the state budget into late 2010. While the stimulus funds are certainly a welcome windfall, the Progress Index reported that the anticipated $200 million cushion might not last long and that job and agency cuts would remain. Please click here to read the full article.
Annual Meeting Offers Insight into Future of the Gateway Region
Virginia's Gateway Region held its 48th Annual Meeting on January 29th at the Country Club of Petersburg. The event-filled schedule included a presentation from local economist Chris Chmura of Chmura Economics & Analytics who provided a valuable glimpse into the Gateway Region's economy both past, present and future.
Ronnie Bryant, President and CEO of the Charlotte Regional Partnership and a recognized leader in the field of economic development was present to speak on the outlook for economic development in 2009 and beyond. Ronnie spoke on the importance of regionalism in creating an impactful economic development program and how Virginia's Gateway Region can capitalize on future economic development trends.
The Annual Meeting also proved to be the perfect venue to unveil VGR's new and innovative Quality-of-Life video to the public for the first time. The video, a collaboration between VGR and Dominion Virginia Power, provides prospective companies with a fact-filled, visually appealing insight into our region. Featuring footage from each of the eight localities VGR represents, the video is yet another tool to demonstrate the advantages of both living and working in the Gateway Region. Please visit our homepage to view the video.
A major highlight of the evening was a check presentation made by The Cameron Foundation to VGR for the purposes of enhancing economic development activities in the region. Ann Taylor and Handy Lindsey were in attendance to present VGR's Executive Director Renee Chapline and President Charles Townes with the $1 million dollar grant which will assist in furthering the mission.
"The organization [VGR] is a critical strategic partner in fulfilling the Foundation's mission. I can think of very few others with missions so closely aligned to that of the Foundation, which gives necessary context to the scale of this grant," said Handy L. Lindsey, Jr., President, The Cameron Foundation.
Virginia Earns Grade B, Fourth Overall in Nation
In January, a study was released that ranked Virginia fourth in the nation and better than the US average for education, the Associated Press recently reported. According to the article, Virginia scored 83.2 out of 100 or a B, compared with the national average of 76.2, or a C. The only states to rank above Virginia were Maryland, Massachusetts and New York. The study, conducted by researchers at Editorial Projects in Education, measured state education in several categories, including academic achievement, school finance, and standards, assessments and accountability the article said. Of these categories Virginia bested the national average with the exception of the school finance category where the state matched the national average of C-plus. Overall the study showed the Commonwealth to be in a healthy position regarding education but that improvements could be made. Please click here to read the full article.
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