1. Economic Development at Virginia Tech John Provo, Director Office of Economic Development

2. Virginia Tech’s Mission Statement Virginia Polytechnic Institute and State University (Virginia Tech) is a public land-grant university serving the Commonwealth of Virginia, the nation, and the world community. The discovery and dissemination of new knowledge are central to its mission. Through its focus on teaching and learning, research and discovery, and outreach and engagement, the university creates, conveys, and applies knowledge to expand personal growth and opportunity, advance social and community development, foster economic competitiveness, and improve the quality of life. 2

3. Virginia Tech’s Strategic Plan Economic Vitality: Connect the university’s discovery, learning, and engagement assets through partnerships with both the public and private sectors to advance the economic vitality of the commonwealth and the quality of life of its citizens. 3

4. A challenge Universities should embrace their roles as economic actors The conventional view of universities in technology-based development is too narrow One-size fits all approach to universities in economic development is unwise Universities need to approach development strategically Richard Lester, Universities, innovation, and the competitiveness of local economies (Industrial Performance Center, MIT, December 2005) 4 4

5. Virginia Tech’s response (in part) Commonwealth Center for Advanced Manufacturing, Petersburg Institute for Advanced Learning and Research, Danville Tobacco Commission R&D Centers, Southwest and Southside Virginia Community College collaborations Virginia Economic Development Partnership collaborations Virginia Tech Corporate Research Center, Blacksburg Virginia Tech Research Center-Arlington 5 5

6. Virginia Tech Corporate Research Center 140 companies and 2000+ employees Phase I includes 120 acres, 27 buildings , and 1 million square feet at 90%+ Occupancy Phase II underway will include 95 acres, 18 buildings, and 1 million additional square feet 6

7. VT KnowledgeWorks Full-service business acceleration center Not an incubator, but offers incubation services 60+ active clients at all stages of corporate maturity – concept to cash-out 7

9. 140,000 square feet

10. State-of-the-Art Technology8 • Developing intellectual property that can be commercialized within the region, • Working closely with industries and the government on applied research focused on critical issues, i.e., helping to solve the knotty problems that require extensive research,

11. Virginia Tech Research Center, Arlington (cont.) • Bringing to the region access to High Performance Computing and the technical expertise to help educate the workforce in understanding how HPC can revolutionize how to structure and resolve complex problems, • Creating a highly educated pool of graduate students who will live and likely remain in the region, • Bringing thought leaders in science and technical areas to the region to help government and industries stay ahead of the knowledge curve in areas such as energy, cyber-security, informatics, and medical technologies. 9

16. Other Virginia Tech partners Applied Research Corporation Business Technology Center Virginia Tech Intellectual Properties Economic Development Leadership Team 13

17. Office of Economic Development Align resources in the university with those in the public and private sector Create unique partnerships involving actors internal and external to the university Provide critical analytical resources for high impact projects Serve as a “think and do” tank for ideas at various stages 14 14

18. US Economic Development Administration (EDA) One of 53 US EDA University Centers Largest in the eastern US Relationships with EDA and other federal agencies 15

19. Workforce development CREATES HITE $3.8m US DOL Energy Training Partnership Grant Virginia Tech, Community Housing Partners, 3 Community Colleges, private sector and other partners 400+trainees Development of state of the art curriculum $4.7 US DOL Community-based Job Training Grant Virginia Tech, 5 Community Colleges, and other partners including 19 hospitals/systems 500+trainees Development of state of the art curriculum 16 16

20. Advanced manufacturing TEMCI $1.5 US EDA Community Trade Adjustment Assistance Grant Virginia Tech, GENEDGE, Planning Districts, private sector including Volvo Trucks Estimated 20 technical assistance projects for firms Product development, process improvements, green technology 17 17

21. Policy and planning Post-secondary Educational Attainment for Virginia’s Adult Workers (National Governor’s Association) Development of Department of Homeland Security Campus Washington, DC (US EDA) Feasibility studies and plans on topics including: business incubation, technology transfer, and tourism 18

22. Contact John Provo, Ph.D. Director Office of Economic Development (0373) Outreach and International Affairs Virginia Tech 702 University City Blvd. Blacksburg, VA 24061 Website: http://www.econdev.vt.edu Linked In: http://www.linkedin.com/in/johnprovo Twitter: http://twitter.com/japrovo Blog: http://www.ee.unirel.vt.edu/index.php/econdevelopment/ Tel: 540-231-4004 19