Virginia's New Economic Development Plan: Broadband For Every Business

"Virginia Governor Timothy M. Kaine's plan is the result of a collaborative process between the Governor's Cabinet, key economic development and business leaders throughout the commonwealth, and Virginians who attended public meetings over the summer. It is built around nine broad goals, each of which contains a series of distinct, measurable strategies that track progress in achieving the goals by 2010, including:

• Increasing the total amount of Defense Department related contracts for Virginia firms by 5%, or $1.15 billion.
• Increasing the economic impact of tourism in Virginia from $16.5 billion to $18.5 billion annually.
• Increasing exports of goods from the Commonwealth by 7% ($855 million).
• Increasing foreign direct investment in Virginia from an annual average of 2300 jobs and $270 million to 3000 jobs and $300 million.
• Ensuring broadband access for every Virginia business.
• Increasing procurement for small businesses to 40% of state purchases.
• Increasing the proportion of 18-24 year-olds with a high school diploma or equivalent from 87% to 92% (an additional 34,000 students).
• Increasing the proportion of 18-24 year olds enrolled in college from 34% to 39% (an additional 34,000 students).
• Increasing the percentage of Virginia’s population (25-65) with a college degree from 35% to 37% (an additional 78,500 persons).
• Decreasing government transaction time for businesses by 30%.
• And, by January 2008, formulating specific regional economic growth goals based on the Council on Virginia’s Future’s regional data.