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    Virginia Domestic Markets Expansion Program: A Model for Business Retention and Expansion

    The eleventh webinar in our 2014 series took place on Wednesday, November 19, 2014.

    It’s no longer a secret, Virginia was the top state recipient of federal government contract awards in 2011 amounting to $59.5 billion. It is also no longer a secret that reductions in defense spending will have a significant negative economic impact in Virginia. Reductions in defense spending are estimated to directly impact 150,000 jobs in Virginia alone.

    In early September 2014, GENEDGE announced a new program designed to support Virginia companies negatively impacted by defense cuts. The program is known as the Virginia Domestic Markets Expansion Program (VA DMEP). Nearly $2 million in grant funding has been allocated to assist Virginia small and mid-sized companies that have been adversely affected by defense budget cuts. Already, GENEDGE has conducted a series of workshops throughout the Commonwealth to describe the program and invite existing businesses to apply. Our speakers will inform you about the VA DMEP program, about the workshops conducted across Virginia, how companies will be selected for the program, and how services will be delivered in the coming months.

    Featured speakers:

    Aimee McCarthy, Marketing Director, GENEDGE

    Dean Young, Program Manager, VA DMEP, GENEDGE

    Attendees will learn:

    • What the Virginia Domestic Markets Expansion Program is about.

    • How domestic diversification can help to offset the negative economic impact in Virginia.

    • How Virginia companies are being selected to receive assistance.

    • What kinds of services will be provided to participating companies.

    • What steps a locality can take to assist existing businesses and industries.

    • Where economic developers and community leaders can go for more information.

    A recording of this session is available here. A transcript of this session is available here.

    To see a schedule of webinars in our series, please click here.