In This Issue
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Upcoming VMA Committee Meetings
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Click here to view a full list of all committee meetings and meeting details.
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17th Annual Virginia Environmental Health and Safety Conference (VEHS)
September 18 -19
Hilton Hotel & Spa
12042 West Broad St.
Richmond, VA
Exhibitor Tables - SOLD OUT!
Virginia Competitiveness Forum
&
2nd Annual VMA STEP Ahead Award Recognition Luncheon
November 19
Williamsburg Lodge Conference Center
310 S England St.
Williamsburg, VA
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VOLUME 8 | Edition 9 | August 2019
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| Letter from the President & CEO |
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Dear Members:
The VMA has just commissioned the update to its
VA MFG Competitiveness Index. This resource measures Virginia's manufacturing competitiveness using 52 different metrics across five categories: Workforce, Business Climate, Infrastructure, Innovation and Economic Strength. Virginia ranked #9 last year but just a few weeks ago
CNBC ranked Virginia #1 for business. So, over the next few months, we are going to unpack this dichotomy.
In fact, a
2019 VA MFG Competitiveness Index
- CNBC Top States for Business comparative report will be given by Ted Abernathy of Economic Leadership at this year's
Virginia Competitiveness Forum
in Williamsburg (November 19). Meanwhile, the VMAPAC will be preparing its
VA Legislative Competitiveness Scorecard
where the General Assembly will be scored on their votes on 48 VMA priority bills from the 2019 session. These resources will help us better communicate how and where Virginia is competing and where we are falling behind.
Speaking of competing, VMA Insurance Services continues to work to secure 1,500 lives in our new Group Benefits Plan by September 30. The rates are highly competitive and good for 13 months. Th plan includes medical insurance, dental insurance, vision insurance, life insurance, disability insurance (LT/ST), consumer benefits insurance (accident/critical illness), flexible spending account administration (FSA), and health savings account administration (HSA). Initial rate comparisons are highly competitive and this is the best opportunity for manufacturers to better control health insurance costs and provide better coverage for employees in decades. To schedule an appointment to compare rates and coverage, click here.
In closing, the next five months will be entirely focused on our competitiveness agenda. We will be messaging about policies, programs, campaigns and people that will help us secure a more competitive future for manufacturers in the Commonwealth.
Brett A. Vassey
President & CEO
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Virginia is Considering Mandating Combined Reporting Tax Policy
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Next week, the Northam administration will give its annual presentation about the state's finances to the legislature's money committees. Preliminary reports indicate that state revenues came in above the official forecast for the fiscal year that ended in June. Although the numbers are higher than projected, Virginia's revenues have not kept pace with overall economic growth.
One way lawmakers may increase revenue is by changing Virginia's corporate tax base. Currently, Virginia applies a flat 6% corporate income tax on corporate profits earned in the state and does not require combined reporting. Combined reporting requires corporations to add up all of the income from the parent company and most or all of its subsidiaries. The member corporation(s) doing business in a state requiring combined reporting would then report the appropriate share of the combined profit on its state tax returns.
As we prepare our legislative agenda, combined reporting may come up in the 2020 General Assembly session. We need to know if changes to the combined reporting tax policy will negatively impact Virginia manufacturers.
Please take a moment to participate in this poll to help us assess the impact to your business.
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ITAC Hosts Advanced Manufacturing Summer Camp
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Earlier this summer, ITAC and its industry partners sponsored an Advanced Manufacturing and Technology Camp as a way to educate local high school students about careers in manufacturing. The goal of the camp was to expose high school students and their parents to career paths leading to high demand occupations in their area.
The camp took place July 17 - 20 at the ITAC facility in Chester, Virginia. At this year's camp, 25 area students participated. Students gained first-hand/hands-on experience with current manufacturing processes and technologies as well as received valuable insight and advice from industry professionals. They also participated in engaging and informative field trips (e.g., Fort Lee Ordinance Welding School). Students spent the week working and learning in teams led by industry professionals from area manufacturers. On the final day, teams participated in an exciting competition that put their acquired knowledge and skills to the test. Students on the winning team received a $500 scholarship to the post-secondary provider of their choice!
Thanks to industry sponsors and the cooperation of area schools, the camp was completely free to students. Since the first camp in 2013, over
150 area students have participated, and $27,000 in scholarships have been awarded.
If you are interested hosting your own summer camp, or supporting the summer camp program, please contact Melissa Gordon at
[email protected].
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2020 STEP Ahead Nominations Opened August 1
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Are there women at your company who deserve recognition and whose story can encourage others to follow their lead?
New 2020 Changes
There are two important changes to the 2020 application process:
- A maximum of 10 applications may be submitted by a single company.
- Companies are encouraged to have one (1) point of contact for nominations. See best practices beginning on page 11 within the Nominations Guide for strategies to streamline internal processes.
The nomination period will close on October 4.
Celebrate Women in MFG
Join the VMA on November 19 at the Williamsburg Lodge Conference Center, Williamsburg VA, for the 2019 STEP Ahead Award recognition luncheon to recognize Virginia women who have been nominated for the STEP Ahead Award. The luncheon will take place in conjunction with the Virginia Competitiveness Forum. For questions and sponsorship opportunities at this event, please contact Kimberly Noonan at [email protected]. Register today using the link below.
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| SW Funk Industrial Contractors Hosts SteelDay Event |
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SW Funk Industrial Contractors has teamed up with the American Institute of Steel Construction (AISC) to host a SteelDay event on September, 27 and you are invited.
SteelDay is an annual national event dedicated to providing the AEC Community with accessibility to the largest happenings in the structural steel industry. SteelDay events are scheduled across the United States to tour facilities and jobsites, attend educational seminars, network, and see how the structural steel industry is contributing to build America.
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| MFG Day 2019 is Coming Soon |
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We are only 50 days out from MFG Day 2019 - Oct 4th!
We encourage manufacturers to open their doors to students, parents, and educators to showcase what modern manufacturing is all about. Be sure to register your event and check out the host toolkit available at www.mfgday.com. Our goal is to have 100 events across the Commonwealth during the October 4 week.
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| VEDP Launches New Quarterly Publication |
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 The Virginia Economic Development Partnership (VEDP) has launched a quarterly publication to help with its business recruitment efforts -
Virginia Economic Review.
The current issue is about the future of manufacturing in the United States.
Article highlights include:
- The Future of Manufacturing in America
- The I-81 Corridor: A Thoroughfare for Manufacturing Success
- Inside Virginia's Record-Setting Micron Project
- Southern Virginia Showcases Next-Level Manufacturing Talent Pipeline
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