• Summary of current service performance
  The Department of Business Assistance’s (VDBA) staff continues to support businesses as they move through the business life cycle: formation;stabiliztion; growth; and expansion. The department’s successful outreach efforts continue to increase awareness and use of its programs and services. During FY2007, the Business Information Services (BIS) staff responded to over 38,000 requests for assistance – a 10 percent increase from the previous year. The Virginia Business Information Center (VBIC), the Commonwealth’s lead business information resource, responded to more than approximately 17,000 requests for assistance via phone, email, live chat, letter and walk-in visits – a 6 percent increase from the previous year. And the agency’s website had 623,441 unique visitors in FY2007 – a 179 percent increase from the previous year.
  
  BIS’s signature workshop, “Selling to the Commonwealth” which supports the agency’s Procurement Assistance Program was offered in 100 communities throughout the Commonwealth with the assistance of local and educational partners. BIS also introduced “Entrepreneur Express,” a program which identifies entrepreneurs and connects them with resources to form and expand their businesses. The program was piloted in Southwest Virginia and is now being rolled out across the Commonwealth. In FY2007, “Entrepreneur Express” was offered at 14 sites and attracted over 400 entrepreneurs.
  
  In addition, VDBA developed the STAR$, short for State Technical Assistance Resource Support, a mentor/protégé program designed to meet the requirements of Executive Order 33 to rapidly increase the participation of small, woman and minority owned (SWaM) businesses in state contracts by increasing the capacity of companies interested in doing business with the state. STAR$ participants are successful competitors in the federal and private sectors who are assisted in achieving the goal of at least three state contracts by strategically utilizing all the VDBA programs and high level business development consulting required to successfully navigate the Commonwealth’s procurement process. In FY2007, 27 of the 100 companies interviewed were accepted to the program and became preferred vendors for many of the largest state agencies including the Virginia Information Technologies Agency, Virginia Department of Transportation the Virginia Lottery, the Department of General services, and state educational institutions. As a result, over $1.5 million in contracts were awarded to STAR$ participants in FY2008.
  
  A significant outcome associated with these efforts is the increase in the percent of state contract dollars that were awarded by all state agencies to small, women, and minority owned businesses. In FY2007, these dollars went from 14.93 percent to 37.82 percent, just 2.18 percent shy of the Governor’s 40 percent target.
  
  
  As part of the outreach efforts of the Virginia Small Business Financing Authority (VSBFA), finance representatives conducted 184 presentations to businesses, trade associations and localities to inform businesses about VSBFA’s economic development financing programs – including government loan guarantees, direct loans, and multi-million dollar financing packages to assist in the Commonwealth’s business expansion and recruitment efforts. During FY2007, technical and financing assistance was also extended to more than 1,386 entrepreneurs, existing businesses, bankers, and local government officials.
  
  As a result of these efforts, the VSBFA administered $10 million in financing to 125 businesses and local industrial development authorities resulting in $247 million in additional financing and supporting the creation or retention of 1,884 jobs in the Commonwealth. Every dollar invested by the VSBFA returns $3.33 in tax income to the Commonwealth in the first year.
  
  The Virginia Jobs Investment Program (VJIP) is an economic development incentive for business relocation and expansion projects. The program provides customized recruitment and training programs to new and expanding businesses. During FY2007, the VJIP staff assisted 497 companies by supporting the hiring and training of 16,418 Virginians. Virginia continues to receive a 100% return on investment for this program from the trained worker within four months.
  
  VJIP also provides assistance to the Commonwealth’s small, women and minority owned businesses. The Small Business New Jobs program assists existing Virginia companies that have 250 employees or less, are hiring at least five new full-time employees and making a capital investment of at least $100,000. During FY2007, the VJIP staff worked with 293 small, women and minority owned businesses to assist in the creation of 2,226 new jobs.
  
  VJIP also supports Virginia businesses that may not necessarily be adding new jobs, but rather are focusing on upgrading their technology and the skills of their existing workforce in order to be more efficient and productive. For businesses that are integrating new technology into their production processes, changing product lines in keeping with marketplace demands, or substantially changing service delivery processes requiring an assimilation of new skills and technological capabilities, VJIP provides support through its Retraining Program. During FY2007, the VJIP staff assisted 47 companies with the retraining of 3,729 Virginia workers. VJIP staff also partnered with many local Workforce Investment Boards to leverage funds available to Virginia businesses through the incumbent worker training programs.
  
  Businesses of all sizes were recognized during the third week of May with events around the Commonwealth. VDBA serves as a catalyst for Business Appreciation Week, helping communities plan events to acknowledge the impact business has on the economy and on the overall quality of life in communities throughout Virginia.
• Summary of current productivity
  The Virginia Department of Business Assistance (VDBA) is proud that productivity has continued to increase over the past five years despite the loss of resources and the expansion of services. While VDBA has increased service offerings to all businesses, there has been a targeted effort to work with small businesses. New products and services have been developed to support these businesses as they move through the business life cycle: formation; stabilization; growth; and expansion.
  
  Improved productivity has been accomplished through the use of new technologies, service delivery systems and partnerships with other service providers. New technologies and improved service delivery systems are being used to eliminate paper work and improve communications with customers. The Virginia Jobs Investment Program and the Guide to Doing Business in Virginia are two programs that now use an interactive web-enabled program on CD ROM to communicate with customers. Programs are also being offered on line and through interactive webinars. The Virginia Business Information Center provides customized answers and technical assistance to new and expanding businesses using a toll free number and an internet-based call center with live chat.
  
  Formal and informal partnerships with other agencies have allowed VDBA to leverage its resources, increasing the department’s ability to serve its customers. Business Information Services works with: the Department of Minority Business Enterprise and the Department of General Services to provide training on eVA registration and the certification for small, women and minority owned businesses; with the Small Business Development Centers to offer procurement training; with the Chambers of Commerce, the Virginia Library Association, and the Virginia Asian American Society to disseminate business information.
  
  Financial Services has formal partnerships with: the Department of Social Services to administer the Child Care Financing Program; the Department of Environmental Quality to administer the Environmental Compliance Assistance Fund; the Tobacco Indemnification and Community Revitalization Commission to administer the Southside Tobacco Region Capital Access Program; the Department of Minority Business Enterprise to administer the P.A.C.E. Program and most recently with the Small Business Administration to market and administer a joint loan guarantee program.
  
  The Virginia Jobs Investment Program partners with: the Virginia Employment Commission to supply job candidates to businesses; Workforce Investment Boards to leverage incumbent worker training funds; and the Virginia Community College System, four-year colleges and universities, local high schools and career and technical schools, and Manufacturing Technology Centers to provide technical and soft skills training and a pipeline of job candidates to businesses.

• Summary of Major Initiatives and Related Progress
  The Virginia Department of Business Assistance (VDBA) will lead the development of the Commonwealth’s first One-Stop Small Business Permitting Program. Authorized by the General Assembly during the 2007 session, the initiative is designed to support Virginia’s favorable business climate by making it easier to create a business in the Commonwealth. The internet-based, intuitive system will seamlessly connect the 26 state agencies that currently provide business assistance, business processes, and permitting and licensing requirements for businesses. Local and federal services and programs will also be included as the initiative develops.
  
  As a part of the One-Stop Small Business Permitting Program, the Virginia Business Information Center will be expanded to provide “live" customer service for businesses. This business center will offer guidance, answer questions, and connect businesses with state, local and federal resources to improve their probability for success.
• Summary of Virginia's Ranking
  CNBC ranked Virginia as the overall number one state for business in 2007. Virginia came out on top even though it was not ranked number one in any of the ten categories rated by CNBC. Virginia placed in the top 15 in eight of the categories. Notably, Virginia ranked third in economic growth, fourth in business friendliness, and eight in workforce.
  
  According to Forbes.com, in 2007 Virginia was rated the top state for doing business for the second year in a row. Virginia's top attributes include an incentive environment that is the fourth-best in the country, as evaluated by Pollina Corporate Real Estate, a commercial real estate consulting firm. Virginia’s unemployment rate is the third lowest in the nation. The Commonwealth was the number one state for positive regulatory environment and eight best for growth prospects in the Forbes survey.
  
  The Ewing Marion Kauffman Foundation has ranked state entrepreneurial climates since 1999 with its “New Economy Index.” In 1999, Virginia ranked 12th. In 2007, Virginia ranked eight. The Commonwealth excelled in the categories of IT professionals (1st), high-tech jobs (2nd) manufacturing value-added (4th), workforce education (5th), e-government (6th), and internet domain names (7th).
  
  HispanicBusiness.com ranked Virginia as the number three state for Hispanic 8a firms, both in number and in business climate.
• Summary of Customer Trends and Coverage
  The demand for services provided by Virginia Department of Business Assistance (VDBA) has increased with the expansion of its customer base. Because traditional manufacturing is declining in Virginia, VDBA is increasing its efforts to create jobs and capital investment in the Commonwealth by supporting the formation, stabilization and growth of businesses and in particular small businesses. Additionally, as the population of Virginia becomes more diverse, so does the business community and the challenges it faces. VDBA is developing strategies to insure that its programs and services assist with these challenges and that all of its programs and services are accessible to all Virginians.
  
  Finally, as Virginian’s age VDBA may face some challenges. While VDBA provides services to all citizens regardless of their age, the impact of the aging population will have on the labor market may increase demand for our products and services; especially our workforce development programs. Current efforts are targeted to existing manufacturing firms facing the retirement of their skilled trades people, and focused on sustaining their ability to grow. These efforts may need to be expanded and incorporated in other program goals.

• Summary of Future Direction and Expectations
  The Virginia Department of Business Assistance (VDBA) will continue to support economic development in Virginia by working with new and existing businesses to provide workforce incentives, loans, and business information to businesses as they move through the business life cycle. The department will continue to improve and expand its programs and services, particularly those that support small business.
  
  VDBA will strive to contain costs by using technology to improve service delivery to our diverse and expanding customer base. While Phase Two of Business One Stop is expected to launch in November, 2009,…….. Business Information Services expects continued improves the process. As money is available, Busines Information Services anticipates continued convergence of state business processes, more data sharing among agencies and improved cost savings by agencies from digital processing.
• Summary of Potential Impediments to Achievement
  The Virginia Department of Business Assistance (VDBA) has absorbed a 33 percent budget cut since FY2002 and in FY2007 the state assets of the Virginia Small Business Financing Authority’s Economic Development Loan Fund were transferred to a non-state entity known as Virginia Community Capital. These cuts have caused the elimination 5.5 FTEs and reduced the financial resources available to support our loan programs, job training programs and our research efforts. If VDBA is to remain competitive with other states and be able to meet the needs of Virginia businesses, it is important that our programs be fully staffed and funded.

• Description of the Agency's Products and/or Services:
  One-Stop Small Business Permitting Program - A new initiative of the Commonwealth, this interactive electronic portal will help entrepreneurs determine formation requirements and assist with the filing and permitting process. Currently, there are 26 different state agencies, with over 400 forms, and over 100 business regulatory and assistance programs that could touch a business during its formation process. This new system will seamlessly connect the various programs and requirements, making it a more business-friendly process.
  
  Entrepreneur Express - These half-day events identify entrepreneurs, connect them with resources and motivate them to take the next step to expand their business. The Entrepreneur Advisory Team has been established to maximize collaboration between local, state and federal service providers.
  
  Virginia Business Information Center - The Virginia Business Information Center (VBIC) is a gateway for assistance with business formation. The service can be accessed by phone, email and live chat and provides tailored solutions to the entrepreneur.
  
  Business Information Partner Training - This semi-annual, half-day training session targets the economic development ally network to improve collaboration within the support network for entrepreneurs. The seminar reviews the most used of the state’s 110 business regulatory and assistance programs.
  
  Existing Business Retention and Expansion Forum - This forum of local existing business program managers discusses issues affecting existing business throughout the state, makes recommendations for new state programs and supports the proliferation of best practices. There are 26 members of the forum, and they meet 3-4 times a year.
  
  Selling to the Commonwealth - Once a company identifies that the state uses one of their products or services, in addition to the normal, needs based selling and relationship building that must occur, the company must also become SWaM certified and eVa registered. This program provides technical training to understand the end to end state procurement process.
  
  One-on-One Procurement Counseling – Business Counselors provide one-on-one counseling to help young companies develop successful marketing strategies to sell to the Commonwealth.
  
  Networking Events – Many companies need opportunities to network or otherwise get in front of a buyer/decision maker. Buyer exhibits and match making sessions are often the first step toward an enduring relationship.
  
  Direct Loans - The Virginia Small Business Financing Authority (VSBFA) provides direct loan financing to businesses and local industrial and economic development authorities through its “gap” financing and certain market-specific loan programs. Loan programs include the federally-funded Economic Development Loan Fund and the Defense Conversion Loan Fund. State-funded programs include the Virginia Direct Loan Program, in which the VSBFA partners with private debt and equity financing to provide fixed asset and permanent working capital loans; the Child Care Financing Program, in partnership with Department of Social Services to provide “soft cost” financing to family home providers and child day care centers; and the Environmental Compliance Assistance Fund, in partnership with Department of Environmental Quality, to provide fixed asset financing to small businesses for purposes of improving the environment.
  
  Indirect Loans – The VSBFA provides deficiency guarantees to banks for specific small business loans through the Loan Guaranty Program and provides loan portfolio insurance to banks to mitigate the risk on a portfolio of small business loans made by banks through the Virginia Capital Access Program, the Tobacco Commission’s Southside Tobacco Region Capital Access Program and the Department of Minority Business Enterprise’s P.A.C.E. Program.
  
  Conduit Financing - The VSBFA is the statewide issuer of industrial development bonds to qualifying small manufacturers and 501(c)3 non-profit entities through the Industrial Development Bond Program (IDB) and also serves as the Commonwealth’s administrator of the statewide private activity bond allocation for all housing and industrial bond issuances as well as the Governor’s discretionary pool.
  
  Technical Assistance/Resources - The VSBFA provides limited financial counseling via phone and email to businesses and business owners who express a need for financing, but do not know the necessary steps, procedures, and tools to obtain such financing through public and/or private sectors. The VSBFA also publishes the only comprehensive, on-line searchable index of all local, state, and federal government loan programs available in Virginia.
  
  New Jobs Program - This program targets expansions of existing Virginia companies or new facility locations which involve competition with other states or countries. Businesses must create a minimum of 25 net new jobs and make a capital investment of at least $1 million.
  
  Small Business New Jobs Program – This program supports existing Virginia companies which have 250 employees or less companywide. Businesses must create a minimum of 5 jobs and make a capital investment of at least $100,000.
  
  Retraining Program – This program provides services and funding to companies to assist in training their existing workforce. Companies participating in the program are typically those undergoing an integration of new technology into its production processes, changing product lines in keeping with marketplace demands, or substantially changing its service delivery process requiring new skills and technological capabilities. These upgrades and changes frequently lead to increased productivity and business growth. Companies must have a minimum of 10 full-time employees to retrain, and a new capital investment of at least $500,000 is required.
  
  Local Incumbent Worker Training Program – The Virginia Jobs Investment Program will partner with regional Workforce Investment Board directors to launch joint incumbent worker training programs for existing businesses.
  
  SWaM Workshops – The Virginia Jobs Investment Program will provide organizational and human resource development workshops to fill a niche not currently offered by other small business service providers. This initiative will complement the procurement seminars offered by VDBA’s Business Information Services team, and will assist businesses in making better hiring and management decisions, leading to increased productivity and growth.
• Factors Impacting Agency Products and/or Services:
  [Nothing entered]
• Anticipated Changes in Products or Services:
  A product currently under development is the One-Stop Small Business Permitting Program. Established during the last session of the General Assembly the program is an interactive electronic portal, designed to help entrepreneurs cut through the red-tape of forming a business in the Commonwealth. The program will help businesses understand the rules and regulations needed to operate and ultimately allow them to file for permits electronically, without duplicating their efforts. We believe that the first phase of the program will come on line mid FY2008 and once tested it will be rolled out to the general public in FY2009.
  
  The Virginia Jobs Investment Program (VJIP) has requested additional funds to expand three existing programs and establish one new program. The New Jobs Program, which works to make Virginia more competitive among other states, will increase its capacity allowing them to serve an additional 100 firms and create or retrain an additional 5,000 jobs per year. VJIP will expand the SWaM New Jobs Program allowing them to serve an additional 75 businesses annually, creating and/or retain an estimated 375 jobs. The program will also expand the number of SWaM Workshops they conduct allowing them to reach an additional 1800 participants. And VJIP will coordinate with partners to establish the Regional Manufacturing Coalitions which will serve as advisory boards to create and promote solutions to the skilled trade worker shortage.
  
  Additional funds have also been requested to recapitalize the Virginia Small Business Financing Authority’s (VSBFA) existing loan pool by $2.68 million for each year of the biennium. This increase will allow the VSBFA to make an additional 130 loans resulting in the creation of over 1000 jobs and enable an additional $25 million in private funding to assist small, women, and minority owned businesses.

• Financial Overview:
  The Virginia Department of Business Assistance (VDBA) is funded primarily by Commonwealth of Virginia General Funds. The only exception to that is for the Financial Services for Economic Development service area, also known as the Virginia Small Business Financing Authority (VSBFA).
  
  The VSBFA has several different loan programs which are used to provide the funds to cover payroll and benefits expenses as well as to provide direct loans and loan guarantees.
• Financial Breakdown:

  	FY 2009			FY 2010
  	General Fund	Nongeneral Fund		General Fund	Nongeneral Fund
  Base Budget	$10,032,426	$1,245,603		$10,032,426	$1,245,603
  Change To Base	$0	$0		$0	$0
  Agency Total	$10,032,426	$1,245,603		$10,032,426	$1,245,603

  This financial summary is computed from information entered in the service area plans.

• Overview
  The Virginia Department of Business Assistance (VDBA) depends primarily on the use of full-time classified employees to fulfill its mission. The department has challenges in the areas of 1) assuring enough staff are available to provide these services which are critical to economic development in Virginia; 2) attracting and retaining qualified staff that are often paid at a significantly lower rate than their private sector counterparts from which our candidates come; and 3) loss of expertise in economic development as VDBA employees become eligible for retirement.
• Human Resource Levels

  Effective Date	6/30/2007
  Total Authorized Position level	47
  Vacant Positions	-3
  Current Employment Level	44.0
  Non-Classified (Filled)	0
  Full-Time Classified (Filled)	44		breakout of Current Employment Level
  Part-Time Classified (Filled)	0
  Faculty (Filled)	0
  Wage	6
  Contract Employees	0
  Total Human Resource Level	50.0		= Current Employment Level + Wage and Contract Employees

• Factors Impacting HR
  At June 30, 2007 the Virginia Department of Businses Assistance had 10% of their staff eligible for an unreduced retirement and 47% of the staff are over the age of 50.
• Anticipated HR Changes
  Virginia Department of Business Assistance is the lead agency for the new One-Stop Small Business Permitting Program and anticipates a potential growth in staffing needs of 10 FTE to adequately handle all of the inquiries once the program is fully operational.

• Narrative overview of the current state of IT in the agency:
  The Virginia Department of Business Assistance (VDBA) has successfully completed two (2) phases of transformation to VITA/NG – Desktop Refresh, and shared, COVA Email, messaging, and Blackberry serving
• Narrative description of the factors impacting agency IT:
  The Virginia Department of Business Assistance (VDBA) has maximized its return on investment for its file, print, messaging, and database server environment, having utilized existing technologies for more than five (5) years. This environment has served to support and contribute to the success of VDBA initiatives in an impeccable and dependable manner during the period of usage; however, the equipment is reaching the end of its physical life cycle and should be replaced to prevent undesirable interruptions in service
• Describe any anticipated or desired changes to agency IT:
  The Virginia Department of Business Assistance (VDBA) is working with the VITA/NG virtualization team to stand-up replacement virtual servers in the secure CESC environment.
• IT Current Services:

  	Cost - Year 1		Cost - Year 2
  	General Fund	Non-general Fund	General Fund	Non-general Fund
  Projected FY2010 VITA Service Fees	$0	$0	$0	$0
  Changes (+/-) to VITA Infrastructure	$0	$0	$0	$0
  Estimated VITA Infrastruture	$0	$0	$0	$0
  Specialized Infrastructure	$10,000	$0	$10,000	$0
  Agency IT Staff	$0	$0	$0	$0
  Non-agency IT Staff	$0	$0	$0	$0
  Other Application Costs	$134,000	$0	$134,000	$0
  Agency IT Current Services	$144,000	$0	$144,000	$0

  Comments:
  [Nothing entered]
• Proposed IT Investments

  	Cost - Year 1		Cost - Year 2
  	General Fund	Non-general Fund	General Fund	Non-general Fund
  Major IT Projects	$0	$0	$0	$0
  Non-major IT Projects From $100,000 - $1 Milliona Total Cost	$0	$0	$0	$0
  Non-major IT Projects Below $100,000 Total Cost	$0	$0	$0	$0
  Major IT Procurements - Stand-alone	$0	$0	$0	$0
  Non-major IT Procurements - Stand-alone	$0	$0	$0	$0
  Total Proposed IT Investments	$0	$0	$0	$0

• Projected Total IT Budget

  	Cost - Year 1		Cost - Year 2
  	General Fund	Non-general Fund	General Fund	Non-general Fund
  Agency IT Current Services	$144,000	$0	$144,000	$0
  Total Proposed IT Investments	$0	$0	$0	$0
  Agency Projected Total IT Budget	$144,000	$0	$144,000	$0

• Current State of Capital Investments:
  Currently the Virginia Department of Business Assistance (VDBA) does not have any capital investments and do we anticipate any in the future.
• Factors Impacting Capital Investments:
  [Nothing entered]
• Capital Investments Alignment:
  [Nothing entered]

The Virginia Department of Business Assistance (VDBA) contributes to the economy of Virginia by integrating entrepreneurship into the Commonwealth's economic development efforts and by retaining and assisting the expansion of existing businesses thereby contributing to the stability and growth of the economy. By supporting the formation, stabilization and growth of entrepreneurs, the department is not only supporting the creation of new jobs and capital investment, but also aiding in the diversification of the economy of the Commonwealth. The programs of VDBA proactively link businesses with the state's 65 business assistance programs and 35 regulatory programs.

• Be a national leader in the preservation and enhancement of our economy.
• Be recognized as the best-managed state in the nation.

The Virginia Department of Business Assistance’s Virginia Jobs Investment Program (VJIP) is a business development incentive that supports economic development efforts throughout Virginia. The program reduces the human resource development costs of new and expanding companies that are creating new jobs throughout the Commonwealth. VJIP is an integral component of the State’s economic development efforts and aligns directly with the department’s mission of promoting economic growth in Virginia by helping businesses prosper.

• Elevate the levels of educational preparedness and attainment of our citizens.
• Be a national leader in the preservation and enhancement of our economy.
• Be recognized as the best-managed state in the nation.

The Virginia Department of Business Assistance (VDBA) through the Small Business Financing implements the Virginia Small Business Financing Act which assists Virginia’s new and existing businesses, as well as businesses expanding into Virginia, by increasing access to capital through the creative application of public and private financing. The goal is to maximize employment opportunities and investment throughout the Commonwealth. This goal directly aligns with VDBA’s mission to promote economic growth by helping Virginia businesses prosper and to one of the Governor’s key performance measures which is to “increase financing for small businesses.”

• Be a national leader in the preservation and enhancement of our economy.
• Be recognized as the best-managed state in the nation.

this goal ensures compliance with federal and state regulations, policies and procedures for Commonwealth preparedness, as well as guidelines promulgated by the Assistance to the Governor for Commonwealth Preparedness, in collaboration with the Governor's Cabinet, the Commonwealth Preparedness Working Group, the Department of Planning and Budget and the Council on Virginia's Future. The goal supports achievement of the Commonwealth's statewide goal of protecting the publics safety and security, ensuring a fair and effective system of justice and providing a prepared response to emergencies and disasters of all kinds.

• Protect the public’s safety and security, ensuring a fair and effective system of justice and providing a prepared response to emergencies and disasters of all kinds.

This goal provides for the effective use of the resources allocated to VDBA. Through effective financial management, human resource management, governmen procurement, information technology and performance management, VDBA intends to increase productivity and the performance of its staff while improving customer satisfaction and product delivery.

• Be a national leader in the preservation and enhancement of our economy.
• Be recognized as the best-managed state in the nation.

• Factors Impacting the Products and/or Services:
  The Virginia Jobs Investment Program budget has been reduced nearly 40% from 2002 levels, and must cautiously balance its obligations in order to serve all types of businesses while keeping this economic development incentive competitive for attracting business to the Commonwealth.
  
  The implementation of a small business new jobs program and an economic development focused retraining program has been well-received by the community. The level of services demanded by smaller businesses is much higher than their larger counterparts as they lack the staff to carry out necessary tasks for employee recruitment and training. To date, VJIP project managers have met that demand, but further increases in demand may jeopardize the quality and timeliness of assistance. The elimination of Workforce Investment Act (WIA) funding for incumbent worker training also constricts VJIP’s capacity to serve the small business sector.
  
  Virginia’s economic development efforts have been very successful and several high-profile projects are currently participating in the program, often in phases taking place over multiple years. More importantly, the size and quality of prospective economic development projects continue to put pressure on VJIP’s funding. Virginia had been consistently ranked in the top five workforce incentive programs, as published by Expansion Management magazine, and fell out in late 2005 as declining budget dollars made reimbursements to companies less competitive with those offered by other states. Currently, all of our competitor states’ workforce training incentive programs, with the exception of Maryland, are ranked ahead of Virginia.
  
  Virginia currently has over 300,000 workers in manufacturing. The Bureau of Labor Statistics reports that Virginia has lost one in six manufacturing jobs since 2000. Continued economic globalization may pressure traditional manufacturers (and major employers in certain markets) to off-shore, putting communities with “traditional economies” at risk. In addition, the graying of the state’s skilled labor force must be addressed with the development of a pipeline of new skilled workers to continue the productivity of Virginia’s manufacturers.
• Anticipated Changes to the Products and/or Services
  Should the additional funding be awarded as described in the Finance section, the VJIP program would implement the following products and services:
  --Expand the New Jobs Program to make Virginia more competitive among other Southeast and Mid-Atlantic states. The increase will provide the capacity to serve at least 100 more firms to create or retrain an additional 5,000 jobs per year, and to make reimbursement rates more competitive with those offered by other states.
  --Expansion of SWAM Workshop effort to 72 events reaching 1800 participants.
  --Regional Manufacturing Coalitions: The coalitions will serve as advisory boards to create and promote solutions to the skilled trade worker shortage. These efforts are targeted to existing manufacturing firms facing the retirement of their skilled trades people, and focused on sustaining their ability to grow.
  --SWaM New Jobs Program: We would assist at least 75 SWAM businesses annually to create and/or retain a projected total of 375 jobs.
• Listing of Products and/or Services
  • New Jobs Program: This program targets expansions of existing Virginia companies or new facility locations which involve competition with other states or countries. Businesses must create a minimum of 25 net new jobs and make a capital investment of at least $1 million.
  • Small Business New Jobs Program: Supports existing Virginia companies which are for-profit, and have 250 employees or less company wide. Businesses must create a minimum of 5 net new jobs and make a capital investment of at least $100,000.
  • Retraining Program: This program provides services and funding to companies to assist in training their existing workforce. Companies participating in the program are typically those undergoing an integration of new technology into its production processes, changing product lines in keeping with marketplace demands, or substantially changing its service delivery process requiring new skills and technological capabilities. These upgrades and changes frequently lead to increased productivity and business growth. Companies must have a minimum of 10 full-time employees to retrain, and a new capital investment of at least $500,000 is required.
  • Local Incumbent Worker Training Program: The Virginia Jobs Investment Program will partner with regional Workforce Investment Board directors to launch joint incumbent worker training programs for existing businesses.
  • SWaM Workshops: The Virginia Jobs Investment Program will provide organizational and human resource development workshops to fill a niche not currently offered by other small business service providers. This initiative will complement the procurement seminars offered by VDBA’s Business Information Services team, and will assist businesses in making better hiring and management decisions, leading to increased productivity and growth.

• We will assist businesses in the Commonwealth to create and retain jobs through the economic development incentive offered through the Virginia Jobs Investment Program.
  Objective Description
  This service area objective encourages business growth, job creation, and capital investment in the Commonwealth by providing value-added services and funding to employers through the Virginia Jobs Investment Program, an integral part of Virginia's economic development effort.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will provide marketing incentives for new and expanding Virginia businesses to create job opportunities by offering consulting services, recruiting, training, retraining, and funding assistance.
  • Agency Goal: The Virginia Department of Business Assistance will enhance the positive business climate in Virginia by providing information and solving problems for businesses as they move through the business life cycle: formation, stabilization, and growth.
  Objective Strategies
  • Support local, regional and state marketing tems by giving presentations to economic development prospects; participating in RFP's, and including incentive information in State marketing proposals.
  • Increase awareness, update partners and allies (to include economic developers, community colleges, Workforce Investment Boards, et. al.) on program offerings and criteria.
  • Revise and enhance marketing materials, including interactive marketing DVD.
  • Visit local and regional partners to understand targeted industries; labor markets; recruitment and training resources to coordinate project start-ups and meet client needs.
  Objective Measures
  • Number of companies assisted by the Virginia Jobs Investment Program
    Measure Class:

    Governor's Key

    Measure Type:

    Output

    Measure Frequency:

    Annual

    Preferred Trend:

    Maintain

    Key Summary: We will increase the number of companies assisted by the Virginia Jobs Investment Program by 2% annually.

    Measure Baseline Value:

    497

    Date:

    6/30/2007

    Measure Baseline Description: Baseline is based on number of projects funded using a 5-year rolling average.

    Measure Target Value:

    532

    Date:

    6/30/2010

    Measure Target Description: Target is based on number of projects funded using a 5-year rolling average.

    Data Source and Calculation: The Virginia Jobs Investment Program maintains an extensive project management information system to collect and analyze program activity. A 5-year rolling average is used to accommodate fluctuations in the business cycle.

  • Number of jobs created and retrained through the Virginia Jobs Investment Program.
    Measure Class:

    Governor's Key

    Measure Type:

    Output

    Measure Frequency:

    Annual

    Preferred Trend:

    Up

    Key Summary: We will increase the number of jobs created and retrained through the Virginia Jobs Investment Program by 2% annually.

    Measure Baseline Value:

    13252

    Date:

    6/30/2006

    Measure Baseline Description: Baseline is number of employees trained using a 5-year rolling average.

    Measure Target Value:

    15658

    Date:

    6/30/2010

    Measure Target Description: Target is number of employees trained using a 5-year rolling average.

    Data Source and Calculation: The Virginia Jobs Investment Program maintains a project management information system to collect and analyze program activity. A 5-year rolling average is used to accomodate fluctuations in the business cycle.

• Achieve a return on investment within the first 12 months of a job being created through the Virginia Jobs Investment Program.
  Objective Description
  This service area objective ensures that program resources are used in an efficient and effective manner. The goal of the program is to recover the State's investment within one year through income and sales tax paid by each new job created.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will provide marketing incentives for new and expanding Virginia businesses to create job opportunities by offering consulting services, recruiting, training, retraining, and funding assistance.
  Objective Strategies
  • Educate staff and partners on connection between income and sales taxes paid and State's investment in new jobs created by VJIP projects.
  • Limit project funding to annual ROI based on wages paid by new jobs.
  • Maintain records to track project funding; jobs created; wages paid; etc.
  • Negotiate with prospects and site consultants and give only "what it takes" to land project and limit State's exposure as much as possible.
  Objective Measures
  • Percentage of Virginia Jobs Investment Program projects that achieve a return on investment within the first 12 months of jobs being created at 100%.
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Annual

    Preferred Trend:

    Up

    Measure Baseline Value:

    100

    Date:

    6/30/2007

    Measure Baseline Description: Percent to achieve ROI within 12 months.

    Measure Target Value:

    100

    Date:

    6/30/2010

    Measure Target Description: Percent to achieve ROI within 12 months.

    Data Source and Calculation: Return on investment incentive table is provided by the Virginia Department of Taxation annually and is used to calculate income tax and sales tax revenues based on wages. Virginia Jobs Investment Program uses this table to gauge the scope of incentive which should be offered to economic development prospects. VJIP has a policy of achieving return on investment within the first 12 months of the new job being created.

• Maintain a high level of overall customer satisfaction with the Virginia Jobs Investment Program.
  Objective Description
  This service area objective ensures accountability to our customer base. VJIP conducts an annual electronic client satisfaction survey regarding project manager professionalism, accessibility, responsiveness, flexibility and helpfulness. The survey also asks for feedback on the overall program's ease of use and responsiveness to their needs.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will provide marketing incentives for new and expanding Virginia businesses to create job opportunities by offering consulting services, recruiting, training, retraining, and funding assistance.
  • Agency Goal: The Virginia Department of Business Assistance will enhance the positive business climate in Virginia by providing information and solving problems for businesses as they move through the business life cycle: formation, stabilization, and growth.
  Objective Strategies
  • Design user-friendly survey allowing clients to quickly complete information in an effort to increase response rates.
  • Have project managers personally follow up with clients who have not responded to survey regarding status.
  • Collect survey information and compare with previous results.
  • Identify comments and feedback from clients for continuous improvement items.
  • VJIP's director is a member and past-President of the National Association of Industry-Specific Training Directors, which has representation from almost all 50 states. Through this association and its annual meetings, information is collected and best practices benchmarked not only on all of Virginia's competitor state programs but also on other states using innovative ways to provide services and funding to companies.
  Objective Measures
  • Percent of Virginia Jobs Investment Program customers rating the overall program as "good" or "excellent."
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Annual

    Preferred Trend:

    Up

    Frequency Comment: FY07 survey in progress at time of plan submission.

    Measure Baseline Value:

    100

    Date:

    6/30/2007

    Measure Baseline Description: Percent of ratings.

    Measure Target Value:

    95

    Date:

    6/30/2010

    Measure Target Description: Percent of ratings.

    Data Source and Calculation: The Virginia Jobs Investment Program conducts an annual electronic client satisfaction survey regarding project managers’ professionalism, accessibility, responsiveness, flexibility, and helpfulness. The survey also asks for feedback on the overall program’s ease of use and responsiveness to their needs.

• Factors Impacting the Products and/or Services:
  Early stage assistance often comes in the form of information and encouragement. Entrepreneurs expect state processes to be accessible, comprehendible and easy to complete. However, because entrepreneurs have different levels of business experience, resources, and professional guidance they often have difficulty interfacing with the state. New business owners are generally ‘time starved” and can become frustrated with the state’s bureaucracy.
  
  The products and services of this service area are being developed and expanded to make access to all existing state resource and regulatory processes more intuitive and more readily available to the business community. While we are using technology to improve access to information, we are also using one on one counseling to solve complex problems. Our goal is to be the one stop business need to make in order to understand the requirements of doing business in Virginia.
• Anticipated Changes to the Products and/or Services
  A product currently under development is the One-Stop Small Business Permitting Program. Established during the 2007 session of the General Assembly the One-Stop is an interactive electronic portal, designed to help entrepreneurs cut through the red-tape of doing business in the Commonwealth. It will assist businesses obtain the necessary licenses, permits, and registrations they will need to operate in the Commonwealth by seamlessly linking the 26 state agencies that may impact their formation. These 26 agencies currently have over 110 regulatory and assistance programs with more than 400 forms that a business may need in order to operate in the Commonwealth. Not only will the One-Stop Small Business Permitting Program help businesses understand the rules and regulations needed to operate but it will also allow them to file for permits electronically, without duplicating their efforts.
  
  We believe that the first phase of the program will come on line mid FY2008 and once tested it will be rolled out to the general public in FY2009.
• Listing of Products and/or Services
  • One-Stop Small Business Permitting Program - A new initiative of the Commonwealth, this interactive electronic portal will help entrepreneurs determine formation requirements and assist with the completion of the filing and permitting process. Currently, there are 26 different state agencies, with over 400 forms, and over 100 business regulatory and assistance programs that could touch a business during its formation process.
  • Entrepreneur Express - These half day events identify entrepreneurs, link them with resources and motivate them to take the next step to grow their business. The Entrepreneur Advisory Team has been established to maximize collaboration between local, state and federal service providers.
  • Virginia Business Information Center - The Virginia Business Information Center (VBIC) is a gateway for assistance with business formation. The service can be accessed by phone, email and live chat and provides tailored solutions to the entrepreneur.
  • Business Information Partner Training - This semi-annual, half day training session target’s the economic development ally network to improve collaboration within the support network for entrepreneurs. The seminar reviews the most used of the state’s 110 business regulatory and assistance programs.

• Support and encourage the creation of new businesses in the Commonwealth.
  Objective Description
  This service area objective encourages new business formation by providing technical assistance to entrepreneurs on state licensing, permitting, registration and regulatory requirements and by providing developmental opportunities for entrepreneurs.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will enhance the positive business climate in Virginia by providing information and solving problems for businesses as they move through the business life cycle: formation, stabilization, and growth.
  Objective Strategies
  • Promote contact with the Virginia Business Information Center as the gateway to all state businesses services.
  • Work with VIPnet to maintain and expand the One-Stop Small Business Permitting Program.
  Objective Measures
  • Number of business establishments in the Commonwealth.
    Measure Class:

    Other

    Measure Type:

    Output

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Frequency Comment: Annual test with quarterly updates.

    Measure Baseline Value:

    208065

    Date:

    6/30/2007

    Measure Baseline Description: Number of private sector business establishments.

    Measure Target Value:

    220832

    Date:

    6/30/2010

    Measure Target Description: Number of private sector business establishments.

    Data Source and Calculation: The VEC ES202 database records business establishments in the Commonwealth.

  • Customer satisfaction for those using the services of the Virginia Business Information Center (VBIC).
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Frequency Comment: Surveys are sent out monthly to VBIC client. The surveys are compiled and analyzed quarterly

    Measure Baseline Value:

    3.5

    Date:

    6/30/2007

    Measure Baseline Description: Rating of 3.5 out of 5.

    Measure Target Value:

    4

    Date:

    6/30/2010

    Measure Target Description: Rating of 4 or better out of 5.

    Data Source and Calculation: A monthly electronic client satisfaction survey is sent to all VBIC users regarding the business counselors’ professionalism, accessibility, responsiveness and usefulness of the assistance provide.

• Factors Impacting the Products and/or Services:
  Administrative Services will continue to see additional responsibilities as more and more requirements and directives are published by overseeing State Agencies. i.e. Department of Accounts, Department of Human Resources Management, Department of Taxation, Auditor of Public Accounts, etc.
• Anticipated Changes to the Products and/or Services
  [Nothing entered]
• Listing of Products and/or Services
  • Accounting: All deposits, travel reimbursement vouchers, vendor invoices, project reimbursements, procurement, maintaining the equipment inventory and surplus property records, overseeing the MasterCard Small Purchase Charge Card and Travel Charge Card programs, monthly reconciliations and policy development and interpretation are handled in the Administration Service Area.
  • Payroll: All payroll related transactions are processed through Administrative Services. The documents are submitted to the Department of Accounts Payroll Service Bureau to be entered in to the Commonwealth Integrated Payroll/Personnel System (CIPPS). All entries are verified and the payroll is certified for processing. The paychecks are delivered to Administrative Services for distribution.
  • Human Resources: All HR functions are handled within the Administrative Services. This will include benefits, workers compensation, compensation and classification, pay transactions, leave accounting, recruitment, employee relations, policy development and interpretation, coordination with payroll and reporting.
  • Budget: All budgetary transactions and distribution are processed in Administrative Services.
  • Financial Reporting: All monthly, quarterly and annual reports as required are compiled and submitted by the Administratinve Services.
  • General Support: This consists of overseeing the mailroom function, coordinating the use and scheduling of the fleet vehicles, package pick ups and deliveries, staffing the receptionist desk, answering and directing phone calls from outside callers and/or visitors.
  • Business Appreciation Week: An annual statewide event coordinated by VDBA, Business Appreciation Week is a state-wide effort to acknowledge the contributions Virginia businesses make to the Commonwealth's economy and quality of life.

• Ensure that resources are used efficiently and programs are managed effectively, and in a manner consistent with applicable state and federal requirements.
  Objective Description
  Administrative Services will strive to achieve "meets expectations" on all elements of the Management Scorecard.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will provide effective management of the agency personnel and state resources.
  Objective Strategies
  • We will work with DEQ to participate in their Environmental Enterprise (E2) program to enable us to achieve a meets expectations rating in the Resource Stewardship category of the Management Scorecard.
  Objective Measures
  • Percent of scorecard categories marked as "meets expectations" for the agency.
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Maintain

    Frequency Comment: Baseline established end of FY2007 and will be evaluated and posted quarterly.

    Measure Baseline Value:

    90

    Date:

    6/30/2006

    Measure Baseline Description: Percent that meets expectations ratings in Management Scorecard

    Measure Target Value:

    100

    Date:

    6/30/2010

    Measure Target Description: Percent that meets expectations ratings in the Management Scorecard

    Data Source and Calculation: The Management Scorecard grades the agency on 6 criteria. The number of cases where the agency scored "meets expectations" is then divided by six. Our overall scorecard rating is 83.3%.

• Be prepared to act in the interest of the citizens of the Commonwealth and its infrastructure during emergency situations by actively planning and training both as an agency and as individuals.
  Objective Description
  We will work towards the goal of the Commonwealth of protecting the public's safety and security and continuing to provide necessary services in the event of an emergency.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will strengthen the culture of preparedness across state agencies, their employees and customers.
  Objective Strategies
  • The agency Emergency Coordination Officer will stay in continuous communication with the Office of Commonwealth preparedness and the Virginia Department of Emergency Management.
  Objective Measures
  • Agency's Continuity of Operations Plan (COOP) Assessment Score.
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Annual

    Preferred Trend:

    Frequency Comment: Measure established in September of 2007 and will be evaluated annually.

    Measure Baseline Value:

    Date:

    Measure Baseline Description: 09/2007 - 47%- of COOP Assessment Review.

    Measure Target Value:

    Date:

    Measure Target Description: 06/30/10 - 75% - of COOP Assessment Review.

    Data Source and Calculation: The COOP Assessment Review is a 24 component assessment tool that helps measure the viability of a COOP plan. Our overall assessment percentage for our 2007 COOP plan was 47%.

• Factors Impacting the Products and/or Services:
  As the number of small businesses increase in Virginia, the need for providing financing and financial assistance to those businesses will also increase. While some of these businesses will be able to obtain financing through the private sector, a percentage will require government assistance to obtain the financing needed to grow and add more jobs.
  
  The increase in the number of small businesses is coinciding with a decrease in the availability of financing for start ups and high growth companies as banks continue to focus on improving credit quality and the efficient delivery of loan products through credit scoring. Both of these factors should cause an increase in the demand for government financing products, especially in the distressed rural and urban areas of the Commonwealth. According to the FDIC, the number of financial institutions in Virginia declined by 14% since the beginning of 2006. Further FDIC data shows the dollar amount of loans made by Virginia’s commercial banks decreased by 7% during the period of 2006 – 2007. The majority of bank lending done today is in the areas of commercial and consumer real estate. This demonstrates the need for alternative sources like government financing programs for operating companies.
  
  Demand for loan programs targeted to assist specific industry and demographic segments such as small, women and minority owned businesses, tourism, motorsports, adult day care, and the agriculture/agri-business industries; and loan programs targeted to address specific needs in particular geographic regions, such as Virginia’s Tobacco Region, are also expected to increase.
  
  There continues to be a gap in the ability for businesses to obtain “seed” equity financing. This is an area that the Virginia Department of Business Assistance (VDBA) and the Virginia Small Business Financing Authority (VSBFA) has attempted and will continue to address.
  
  The VSBFA is rapidly approaching a point where most of its loan programs will exhaust their available funding. The Virginia Capital Access Program is projected to run out of funding in FY2008 as it did in FY2006. The Economic Development Loan Fund and Loan Guaranty Program could also be deplete of funding in FY2008 based on historical usage. Since 1995, the programs of the VSBFA have received only $2,400,000 in general fund appropriations and have lost $11,950,000 in budget cuts since FY2001.
  
  VSBFA staffing is paid through revenue generated from fees and interest earned through the loan programs. Due to the cuts to the programs, staffing has been reduced and service delivery has suffered and will continue to do so. In order to make the citizens of the Commonwealth aware of the services the VSBFA offers, and in order to service our economic development partners, a consistent funding source must be found to support the VSBFA. In addition, the VSBFA will face increased difficulty in filling vacancies as the funding support for the programs deteriorates, coupled with the increasing wage rates paid in the private sector for experienced commercial lenders.
• Anticipated Changes to the Products and/or Services
  The demand for Virginia Small Business Financing Authority (VSBFA) products and services are anticipated to increase as the banking industry continues to consolidate and maintain tight credit standards and the equity financing industry continues to steer clear of “seed” investments. Interest rates are also expected to rise which will increase the cost of private sector financing and place additional expense on fledgling businesses, squeezing their cash flow, and reducing their prospects for growth.
  
  Anticipated reductions in federal support of community development through the President’s proposed elimination of the Community Development Fund and drastic reductions to the Community Development Block Grant Program and the Economic Development Administration will place more of a burden on state and locally funded programs to assist economic development projects. Demand for VSBFA loan programs, particularly through local IDA/EDA’s may increase as other funding sources disappear.
• Listing of Products and/or Services
  • Direct Loans - The Virginia Small Business Financing Authority (VSBFA) provides direct loan financing to businesses and local industrial and economic development authorities through its “gap” financing and certain market specific loan programs. Loan programs include the federally-funded Economic Development Loan Fund and the Defense Conversion Loan Fund. State funded programs include the Virginia Direct Loan Program, in which the VSBFA partners with private debt and equity financing to provide fixed asset and permanent working capital loans; the Child Care Financing Program, in partnership with Department of Social Services to provide “soft cost” financing to family home providers and child day care centers; and the Environmental Compliance Assistance Fund, in partnership with Department of Environmental Quality, to provide fixed asset financing to small businesses for purposes of improving the environment.
  • Indirect Loans – The VSBFA provides deficiency guarantees to banks for specific small business loans through the Loan Guaranty Program and provides loan portfolio insurance to banks to mitigate the risk on a portfolio of small business loans made by banks through the Virginia Capital Access Program, the Tobacco Commission’s Southside Tobacco Region Capital Access Program and the Department of Minority Business Enterprise’s P.A.C.E. Program.
  • Conduit Financing - The VSBFA is the statewide issuer of industrial development bonds to qualifying small manufacturers and 501 c 3 non-profit entities through the Industrial Development Bond Program (IDB) and also serves as the Commonwealth’s administrator of the statewide private activity bond allocation for all housing and industrial bond issuances as well as the Governor’s discretionary pool
  • Technical Assistance/Resources - The VSBFA provides limited telephonic and electronic financial counseling to businesses and business owners who express a need for financing but do not know the necessary steps, procedures, and tools to obtain such financing through public and/or private sectors. The VSBFA also publishes the only comprehensive, on-line searchable index of all local, state, and federal government loan programs available in Virginia.

• We will increase financing to small businesses for fixed asset and working capital needs to support their growth when the private lending sector cannot fully assist.
  Objective Description
  Increasing opportunities for businesses to obtain the capital required to grow in order to increase employment and investment in the Commonwealth is at the heart of the mandate provided in Section 2.2-2279, the Virginia Small Business Financing Act. Through its direct loan, indirect loan, and conduit financing programs, the VSBFA fulfills this mission. This objective is also consistent with Virginia Department of Business Assistance’s mission of promoting economic growth by helping Virginia businesses prosper.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will develop creative applications of public and private financing for the benefit of new and expanding businesses to assist in the creation and retention of jobs.
  Objective Strategies
  • The Virginia Small Business Financing Authority will develop a marketing plan to include target goals for number of presentations and calls on businesses, economic developers, banks, IDA/EDA’s, non-profits, Small Business Development Centers, Chambers of Commerce, attorney’s, accountants, and organizations that represent the entities listed above.
  • The Virginia Small Business Financing Authority will maintain a goal of a one-week response time on all complete loan applications that are able to be approved within the staff’s designated authority.
  Objective Measures
  • Number of loans committed by the Virginia Small Business Financing Authority to assist small businesses and localities.
    Measure Class:

    Other

    Measure Type:

    Output

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Frequency Comment: Measure established in FY1999. Annual target with quarterly updates.

    Measure Baseline Value:

    116

    Date:

    6/30/2007

    Measure Baseline Description: Number of loans approved using a 2-year rolling average.

    Measure Target Value:

    245

    Date:

    6/30/2010

    Measure Target Description: Number of loans approved.

    Data Source and Calculation: Data is collected from financing program applications supplied by customers and banking partners and verified at the time of loan closing.

  • Funds committed by the Virginia Small Business Financing Authority to assist small businesses and localities.
    Measure Class:

    Other

    Measure Type:

    Output

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Maintain

    Frequency Comment: Measure established in FY00. Annual target with quarterly updates.

    Measure Baseline Value:

    7.6

    Date:

    6/30/2007

    Measure Baseline Description: $7.6 million - Funds committed by VSBFA using a 2-year rolling average.

    Measure Target Value:

    8.1

    Date:

    6/30/2010

    Measure Target Description: $8.1 million - Funds committed by VSBFA.

    Data Source and Calculation: Data is collected from loan accounting and activity reports submitted by project managers and loan accounting personnel as loans are approved.

  • Number of jobs created and retained by businesses receiving loans from the Virginia Small Business Financing Authority.
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Frequency Comment: Measure established in FY00. Annual target with quarterly updates.

    Measure Baseline Value:

    1776

    Date:

    6/30/2007

    Measure Baseline Description: Number of jobs using a 2-year rolling average.

    Measure Target Value:

    2866

    Date:

    6/30/2010

    Measure Target Description: Number of jobs.

    Data Source and Calculation: Data is collected from loan accounting and activity reports submitted by project managers and loan accounting personnel as loans are approved.

  • Public and private capital investment by businesses receiving loans from the Virginia Small Business Financing Authority.
    Measure Class:

    Governor's Key

    Measure Type:

    Outcome

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Key Summary: We will increase public and private capital investment by businesses receiving loans from the Virginia Small Business Financing Authority by $49.3 million by June 30, 2010.

    Frequency Comment: Measure was established in FY00. Annual target with quarterly updates.

    Measure Baseline Value:

    49.3

    Date:

    6/30/2007

    Measure Baseline Description: $49.3 million public and private financing using a 2-year rolling average.

    Measure Target Value:

    75.8

    Date:

    6/30/2010

    Measure Target Description: $75.8 million public and private financing.

    Data Source and Calculation: Data is collected from financing program applications supplied by customers and banking partners and verified at the time of loan closing.

• Factors Impacting the Products and/or Services:
  [Nothing entered]
• Anticipated Changes to the Products and/or Services
  [Nothing entered]
• Listing of Products and/or Services
  • One-on-One Procurement Counseling – Business Counselors provide one-on-one counseling to help young companies develop successful marketing strategies to sell to the Commonwealth.
  • Networking Events – Many companies need opportunities to network or otherwise get in front of a buyer/decision maker. Buyer exhibits and match making sessions are often the first step toward an enduring relationship.
  • Selling to the Commonwealth - Once a company has identified the state as a prospect for their product or service, in addition to the normal, needs based selling and relationship building that must occur, the business must also become SWaM certified and eVa registered. This program provides technical training to understand the end to end state procurement process.
  • Business Appreciation Week – VDBA serves as a catalyst to celebrate the collective efforts of Virginia’s business community by creating an annual promotional campaign for localities. Events include VDBA’s Governor’s Kick-off breakfast and 80 locally sponsored business appreciation events.

• We will help Virginia businesses grow their revenues.
  Objective Description
  This service area objective will help businesses grow their revenues by helping them tap into new markets specifically those of government contracting and procurement. Given the complex process for selling to the government and the limited resources of many businesses, we will make information, training and technical assistance available to simplify the process for businesses.
  Alignment to Agency Goals
  • Agency Goal: The Virginia Department of Business Assistance will enhance the positive business climate in Virginia by providing information and solving problems for businesses as they move through the business life cycle: formation, stabilization, and growth.
  Objective Strategies
  • Business Services Managers will be assigned as needed on a case by case basis to resolve problem that businesses encounter as they try establish and grow their businesses in the Commonwealth.
  • We will provide networking opportunities for businesses that will allow them to get in front of buyers, particularly those purchasing services and products on behalf of the Commonwealth. We will encourage businesses to establish enduring relationship that will help them grow their businesses.
  • We will continue to market our website to businesses by include information on its value in all of our outreach efforts.
  • We will increase our use of webinars and on-line training modules to offer our products and services.
  Objective Measures
  • Percent of state contract dollars awarded by all state agencies to small, women and minority (SWaM) businesses.
    Measure Class:

    Governor's Key

    Measure Type:

    Outcome

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Key Summary: We will work with small, women and minority owned businesses to achieve the goal set out in Executive Order 33, where the Governor stated that "...It shall be the goal of the Commonwealth that 40 percent of its purchases be made from small businesses..." by June 30, 2010.

    Frequency Comment: Measure was established in FY2005.

    Measure Baseline Value:

    37.82

    Date:

    6/30/2007

    Measure Baseline Description: Percent of contract dollars received by SWaM businesses.

    Measure Target Value:

    40.00

    Date:

    6/30/2010

    Measure Target Description: Percent of contract dollars received by SWaM businesses.

    Data Source and Calculation: Data compiled by Department of Minority Business Enterprise from CARS and MasterCard System on a quarterly basis.

  • Number of unique visitors to the Virginia Department of Business Assistance's website.
    Measure Class:

    Other

    Measure Type:

    Outcome

    Measure Frequency:

    Quarterly

    Preferred Trend:

    Up

    Frequency Comment: Measure was established in FY2005. Data will be compiled quarter with an annual target.

    Measure Baseline Value:

    623441

    Date:

    6/30/2007

    Measure Baseline Description: Number of unique website visitors.

    Measure Target Value:

    727710

    Date:

    6/30/2010

    Measure Target Description: Number of unique website visitors.

    Data Source and Calculation: Monthly web trends report supplied by the American Eagle, the website host.