Site Expansion - Regional Round-Up: Virginia
Regional Round-Up: Virginia
Population
7,293,542
Workforce
4,894,025 (age 16 to 64)
4,696,693 (age 18 to 64)
Unemployment rate
3.8%
Key cities and populations
Top ten cities by population (2002):
Virginia Beach: 433,934
Norfolk: 239,036
Chesapeake:206,665
Richmond:197,456
Newport News:180,272
Hampton:145,921
Alexandria:130,804
Portsmouth:99,790
Roanoke:93,873
Suffolk:69,966
Primary Metropolitan Statistical Areas:
Washington-Arlington-Alexandria:2,248,082 VA Beach-Norfolk-Newport News:1,593,306 Richmond:1,126,262
Roanoke: 289,498
Lynchburg: 229,859
Charlottesville: 178,924
Blacksburg: 153,149
Harrisonburg: 109,557
Danville: 109,341
Bristol: 91,585
Winchester: 87,199
Targeted industries
Biopharmaceutical, medical devices, information technology, manufacturing, natural resources, logistics, electronics, aerospace, automotive, motorsports, microelectronics, semiconductors, headquarters, corporate offices, financial services, homeland security & defense, military, fabricated metals, food & beverages, plastics & synthetic materials, printing & publishing
Biopharm employment
21,977 (1st Quarter 2003)
Academia and government affiliated with biopharm industry
John B. Fenn, Ph.D., and Thomas F. Huff, Ph.D., Virginia Commonwealth University
Jerald P. Coughter, George Mason University
Patricia B. Williams, Ph.D., Eastern Virginia Medical School
Robert L McKown, Ph.D., James Madison University
Daniel Barchi, Ph.D., Carilion Biomedical Institute
Bruno Sobral, Ph.D., Director, Virginia Bioinformatics Institute
Primary business strengths
3rd largest US industry cluster; highest US concentration of bioscience educated workforce; competitive cost savings on East Coast operations; easy access to rail and air transportation; low personal income tax rate; low corporate income tax structure
Tax and other incentives
Corporate income tax rate: 6%; sales and use tax rate: 4.5% (3.5% state and 1% local); property tax reductions for tangible equipment used for biotechnology research, development, and manufacturing; sales tax exemption for R&D equipment; clean room and components sales tax exemptions; major business facilities job tax credit: $1,000 per job; Governors Opportunity Fund; Virginia Investment Partnership; tobacco funds; industrial development bond programs; loan guaranty program; Virginia Capital Access Program
BioClusters
Northern Virginia; Blacksburg; Charlottesville; Hampton Roads/Virginia Peninsula:
Virginia Biotechnology Association, 804.643.6360, Mark A. Herzog, executive director, mherzog@vabio.org
Virginia Biotechnology Research Park, 804.828.5390, Robert Skunda, president, rts@vabiotech.com
Future plans for biopharm growth
Virginia will become a globally recognized center for the growth and formation of the biotechnology industry, consistent with the strengths and competitive advantages of the Commonwealths research universities, laboratories, healthcare institutions, and industries. By the year 2010, Virginia will be ranked among the top ten states in the U.S. in terms of the critical economic factors by which the industry is measured. — Governors Advisory Board for The Virginia Biotechnology Initiative, Vision statement
State committment to biopharm industry growth
Virginia Biotechnology Initiative: Governor Mark Warner announced a comprehensive and coordinated strategy to build on Virginia's recent success in attracting biotechnology investment. The Governor's executive order creates the Governor's Advisory Board for the Virginia Biotechnology Initiative, and instructs the panel to prepare specific recommendations for making Virginia a leader in the biotechnology industry.
State-level contacts
Virginia Economic Development Partnership, 804.371.0089, Keith Boswell, senior manager, business development,
Regional-level contacts
Greater Richmond Partnership, Gregory H. Wingfield, president, 804.643.3227,
Articles in this issue
Editorial—BioPharm Reflects the Industry
Site Expansion - Regional Round-Up: Virginia
Qualification of Raw Materials for Biopharmaceutical Use
Outsourcing Report: Big Pharma Promises to Focus on Productivity
Costing Issues in the Production of Biopharmaceuticals
Canada: On the Biopharmaceutical Fast Track
Looking for Clues to a Sustained Biopharm Resurgence? Check Out the Job Picture
The State of Intellectual Property in Canada: Pending and Spending
Site Expansion - Regional Round-Up: Maryland
Regulatory Beat: Electronic Information Systems Promote Drug Development, Patient Safety
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