McAuliffe has the most business experience of all the candidates running for Governor and admittedly he has demonstrated the most success in setting up and turning around businesses, and making millions for himself out of his many business ventures. Can he do this for the Commonwealth of Virginia?
I grew up in a family of entrepreneurs and businessmen, serving the agricultural needs of farmers in India. My Graduate Degree in Business is from the worlds most selective school of business, admission is at the 99.7 percentile. I worked in Retail and Manufacturing in India, Manufacturing and International Trade in Rwanda, Zaire, Uganda, Kenya and Tanzania. During the last 20 years, I have done Manufacturing, International Trade and Information Technology in the United States and Mexico. I helped grow companies more than 200%. I was a key manager to pull a NASDAQ company out of Bankruptcy Protection.
So, I understand the challenges of business. I reviewed Chapter 2 of the McAuliffe Business Plan for Virginia, and I believe he gets it. McAuliffe understands what Virginia needs and he recognizes that there is no one size fits all solution.
Cross Posted in Blue Commonwealth
McAuliffe demonstrates his business experience and acumen in the Business Plan he has developed for Virginia. Here is a brief review of Chapter 2 of the plan.
He appears to have surveyed leaders around the Commonwealth and integrated their thoughts and ideas in his Business Plan.
I am optimistic that Virginia will be the first state in the United States to come out of the recession, and we will set the standards for others in the World to emulate.
The plan is developed around the thoughts and suggestions of Virginians around the Commonwealth. I have attempted to relate many of these ideas with the resources and programs we already have in Virginia.
"We need a Governor’s plan that has a strong focus on using what we already have to create jobs. Because nothing happens without jobs."
Source: Anthony Smith, Roanoke Roundtable
Virgina's assets include:
• World-class education system
• Skilled and dedicated workforce
• National and international access to markets
• Diverse geographical assets
• Business-friendly climate
The smartest strategies for sustained economic growth do not focus on creating or attracting just any job or business; instead, they focus on
those industries most likely to show high growth in the future economy, and to pay good wages with good benefits. This is the type of strategy we
need to grow the economy here in the Commonwealth.
Success depends on many factors, including the following:
- Strategically Use Business Incentives and Tax Credits to Produce Long-Term Economic Growth in High-Wage, High-Value Jobs
- Improve Access to Capital
- Help Small Businesses Succeed and Encourage Entrepreneurs
- Make Sure State Government Remains Business-Friendly
- Develop Regional Economic Strategies
We have our share of the challenges:
- Current economic slowdown is jeopardizing jobs and investments and restricting credit
- Other states are becoming more competitive in pursuing new business investments
- Each region of the Commonwealth has its own economic strengths, weaknesses, and needs
Many of the best brains around Virginia have made many suggestions:
"The Governor’s Opportunity Fund,which of course needs to be increased,
could have more money and from that fund could provide incentives to
companies that want to come to Virginia to come to distressed areas, like parts of Henry County."
Source: Barry Dorsey, Executive Director of the New College Institute, Martinsville Roundtable.
"Thinking big means giving local governments the tools they need to prepare potential development sites for large, job-creating projects. The state should do more to help local governments reel in the big fish, either through grants or through tax incentives. In this way we can ensure that prosperity is shared throughout the Commonwealth, not just in Northern Virginia or in the more prosperous areas of the state."
Source: Prof. James V. Koch, President Emeritus, Old Dominion University
The Virginia Jobs Investment Program (VJIP) supports several growth areas including the following:
• Manufacturing
• Distribution centers
• Corporate headquarters for companies with multiple facilities
• Inbound call centers
• Information technology services exclusively for businesses
• Research and development facilities
As part of the Green Energy initiatives, we need to focus on:
• Waste-to-energy technologies
• Increased production, distribution, and use of biofuels
• Advanced biomass projects
• Energy efficiency technologies
Solving transportation problems, reducing use of non-renewable energy, and increasing productivity of workers will benefit from progressive ideas as opined below:
"If Virginia allows (encourages)employers to reimburse at home broadband for employees without making it taxable income to employees, it will encourage teleworking, promote broadband, and enhance Virginia’s reputation as a pro-tech, pro-business state."
Source: Gary Shapiro, CEO Consumer Electronics Association, NOVA Tech
Roundtable.
The world revolves around money, and it is critical to make funding available for innovation. McAuliffe has a history of investing for growth and innovation and his approach is supported by this demand:
"The state should fund an early stage private equity investment fund,
managed privately to assist in the start up of new businesses and growth of existing businesses utilizing innovative technology."
Source: Ray Smoot, COO Virginia Tech Foundation, Email
There is a need to expand infrastructure support for new and innovative businesses and start-up support services are essential for growth:
"Provide incubators for forward looking creative [businesses] with the
potential to provide jobs well into the 21st century. ... Reward businesses
that create jobs at an established level over a specific period of time."
Source: Roger Bramlett, Jr., Virginia Beach, "Tell Terry" Submission
Virginia has a successful program for growing women and minority owned businesses. Enhancing Opportunities for Women and Minority-Owned
Businesses with the State Government will generate a lot more jobs per unit investment as small business provides best jobs per investment dollars ratios. Evaluating success by developing a "dashboard" of indicators to measure women and minority owned business participation in state contracts will be a big help to measure growth and success.
It is critical to create strong academic-corporate links to produce future entrepreneurs. UVA’s Darden School of Business was recently named
one of the nation’s top 20 entrepreneurial graduate programs by Entrepreneur magazine. Also, the Mason Enterprise Center at GMU has
been nationally recognized for creating innovative entrepreneurship curriculum for all of its students. We need to expand use of these priceless resources Virginia has developed over the years.
It is important to Reduce the time and expense of securing regulatory permits by creating a coordinated system that simplifies and speeds up permitting and expands the licensing program.
Yes, McAuliffe gets it. No doubt about it.