Virginia Chamber of Commerce
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Chamber Briefings 
October 2015
Upcoming Events

Virginia Conference on World Trade

November 4-5, 2015

Norfolk, VA

 

Virginia Congressional Luncheon

November 18, 2015

11:30 a.m.-1:30 p.m.

Russell Senate Office Building
Kennedy Caucus Room

 

Virginia Economic Summit

December 4, 2015

Williamsburg Lodge

 

2016 Financial Forecast

January 8, 2016

noon-2:00 p.m.

Greater Richmond Convention Center


SAVE THE DATE!

Chamber Day at the Capitol &

Old Dominion Assembly

January 27, 2016

Member News












Member Events
President's Message

Barry DuVal
Last month, we released the first study conducted by the Virginia Chamber Foundation's Center for Trade, the "Virginia International Trade Profile," at our Forum on Trade and Infrastructure. The benchmark trade study provides critical data to businesses and policy-makers as we work to implement the strategies outlined in Blueprint Virginia. This study provides for the first time an analysis of the overall impact of international trade on our economy, and identifies significant opportunities for growth. More information on the Virginia International Trade Profile, including the link to download the executive summary and full study, can be found below. 
 
On October 6th, we hosted the 2015 Virginia Workforce Conference, where we were joined by over 450 business and education leaders from across the Commonwealth to discuss how to build a demand driven talent pipeline. At the conference, Governor McAuliffe signed Executive Order Number 49, which will expand registered apprenticeships in Virginia. We were also pleased to hear from Mike Petters, President & CEO of Huntington Ingalls Industries and Chair, Virginia Business Council at the conference as he called on the business community to get involved in this important issue. You can view videos and photos from the conference by clicking here.

As our team continues to work on your behalf in the federal, state and regulatory arenas, I also wanted to share with you some exciting news. Southern Political Report Magazine recently ranked the Virginia Chamber among the Top Government Affairs and Lobbyists Firms for Associations in Virginia. We look forward to continuing to represent you as we work to make Virginia a better place to do business.

 
Virginia Chamber Foundation Center for Trade releases "Virginia International Trade Profile"

On September 29th at the Forum on Trade and Infrastructure, the newly created Virginia Chamber Foundation released its first study, the "Virginia International Trade Profile."

The "Virginia International Trade Profile" is the first of its kind to utilize data based on where goods and services were produced, rather than the more commonly used data based on the point of export. The study includes a regional breakdown of the economic impact of the exports of goods and services and an analysis of tax revenue, income per job and Virginia Gross State Product (value-added) associated with trade. Key findings include:         
  • Exports represent 30 percent of Virginia's economic growth over the last five years
  • Virginia exports generated $2 billion in tax revenue in 2014
  • Nearly half of Virginia's exports are in services sectors, a significantly higher share than the U.S. overall
  • While the majority of exports in Virginia come from the three largest export regions, exports represent a greater share of the local economy in other regions of the state
  • Middle market firms represent the greatest opportunity for new export activity that can be assisted by state trade development efforts
Click here to view the executive summary of the study. 

The full Virginia International Trade Profile is available at  www.vachamber.com/trade
New EPA Rulings

New water pollution rules on power plants 
The Environmental Protection Agency (EPA) is moving forward with new rules on power plants that will place restrictions on discharging toxic pollutants such as mercury, arsenic, lead, and selenium into the water.  The EPA estimates the water pollution rules will impact 133 of the nation's steam electric power plants. The water pollution rules will go into effect in 60 days.

To view the final rule, click here.

New ozone standard 
On October 1, the U.S. Environmental Protection Agency tightened the National Ambient Air Quality Standards (NAAQS) for ground-level ozone to 70 parts per billion (ppb), from a previous standard of 75 ppb.  During the regulatory process, the business community expressed concerns that the lower ozone standard would be extremely difficult for many areas of the Commonwealth to comply with, making it expense to implement and threaten jobs.  Over the past three decades, the country's air quality has improved dramatically with ozone concentrations down 33% since 1980, while ozone-forming emissions have been cut in half. Under the Clean Air Act, the federal government is authorized to withhold transportation funding and halt permitting for highway and transit projects in regions unable to demonstrate compliance with these emissions rules.
 
To view the final rule, click here.
OSHA Targets Misclassification in Virginia

Blog post by Courtney Malveaux, ThompsonMcMullan, P.C.

"In the emerging economy, the line between independent contractors and employees is blurring.  It's happening in a host of industry sectors, especially construction, manufacturing, energy and service.

State and federal agencies charged with the task of regulating employment continually wrestle with worker misclassification.  That is especially true for the Occupational Safety and Health Administration ("OSHA") and its state counterpart, Virginia Occupational Safety and Health ("VOSH").  Inspectors can't lift a finger unless they first deem workers to be employees under the law.  It is not a simple issue.  The multifactor tests used to determine worker status varies, often from one state or one agency to another...."

Click here to view the full post.
Virginia Chamber supports federal regulatory reform bill
 
The Virginia Chamber, in partnership with other national business groups, is calling on the Senate to pass legislation curbing costly regulations.  Working collaboratively with the U.S. Chamber of Commerce and others, a business coalition sent a letter to members of the Senate Homeland Security and Government Affairs Committee voicing broad support for the Regulatory Accountability Act of 2015.  The bill would force federal agencies to do a cost-benefit analysis and adopt the least costly or most cost-effective approach when a proposed rule carries an economic impact over $1 billion annually.  It would also require on-the-record administrative hearings on the most costly regulations and for rules to be more rigorously tested when challenged in court.

To view the letter, please click here.
Federal transportation deal in 2015?
 
The Federal Highway Transportation Department has announced that federal highway funding could last well into 2016, potentially giving Congress an extra half of a year to strike the long-term infrastructure deal that has long eluded Washington.  But key House Republicans say "they don't want the extra time," nor do they want to "allow the Highway Trust Fund to dip to dangerously low levels."  Lawmakers have an Oct. 29 deadline for extending highway programs.  

If the House is unable to make progress on both its international tax plan and highway policy in the coming months, the chamber could be forced to accept a Senate highway bill passed this summer that House leaders have repeatedly said "is riddled with deficiencies." The Senate bill authorizes six years' worth of highway policy, but only includes funding for three years.
Nominations Currently Being Accepted for Virginia Chamber Board of Directors

As a business leader in your community and a member of the Virginia Chamber of Commerce, you can be most helpful in identifying businessmen and women for possible service on the Chamber's Board of Directors. We are seeking individuals with a proven record of community service and leadership ability and who would have a commitment to preserving a positive business climate in Virginia on a statewide basis.
To make recommendations, please write to:
Mr. Gary Thomson
Chairman, Nominating Committee
Virginia Chamber of Commerce
919 East Main Street, Suite 900
Richmond, VA 23219
ATTENTION: Maryann Crowder, VP of Chamber Operations
 
or email Maryann at m.crowder@vachamber.com and identify your nominee(s) and attach a current bio. Please note our mailing address above.

Your letter must be received by Tuesday, December 1, 2015.
Governor McAuliffe Announces Launch of Virginia Grants Website
In September, Governor McAuliffe announced the launch of the first ever Virginia Grants website, a new public resource for anyone interested in state, federal, and private funding opportunities. The website will serve as a hub for taxpayers to search for grant opportunities, and have a better idea of how federal tax dollars are being spent, and which grants present opportunities for state and local governments as well as private businesses and organizations.   

To visit the new Virginia Grants site, click here. 
Funding Available Through Small Business Investment Grant Fund

Did you know that Virginia taxpayers who invest in Virginia businesses may qualify for cash grants of up to 10% of their investment amount?

Qualified Investments
  • Cash investment in a qualified business in the form of equity or subordinated debt.
  • Cash investments must remain in the business a minimum of 2 years, or the Investor will forfeit the grant and will pay interest on the cash received.
  • Subordinated debt must
    • be outstanding with no principal curtailments for a minimum of 3 years,
    • is not guaranteed by any other person or secured by any assets of the subject small business or any other person, and
    • is subordinated to all indebtedness and obligations of the small business to banks.
 Qualified Investors
  • Virginia taxpayer who is not engaged in the business of making debt or equity investments in private businesses. 
  • A person who is not a partner, shareholder, member or owner of an entity that engages in the making of debt or equity investments in private businesses.
  • A person who for one year prior or one year after the Qualified Investment, or any members of the Investor's family or any entity affiliated with the Investor has not received compensation from the qualified business in exchange for services provided to such business as  an employee, officer, director, manager, or independent contractor. 
  • A person who has not been allowed a tax credit pursuant to §58.1-339.4.
For more information on the Small Business Investment Grant Fund, contact Scott Parsons at the Virginia Small Business Financing Authority at 804-371-8254 or scott.parsons@sbsd.virginia.gov.

Building the New Virginia Economy in a Global Marketplace

November 4-5, 2015
Norfolk, VA 

EXPAND YOUR INTERNATIONAL BUSINESS.


Governor Terry McAuliffe has been confirmed to be the luncheon keynote speaker on Thursday!

Secretary of Commerce and Trade Maurice Jones has been confirmed to be the banquet keynote speaker on Thursday!


Conference attendees may choose one of two conference tracks. The first track will hear business perspectives on China, Turkey, Canada, Brazil and Mexico from companies doing business in those markets. Representatives from VEDP's Global Network will participate as well. In the afternoon, the first track will focus on the top 10 growth markets for 2016 and digital localization, an important element when marketing your company internationally. The second track will focus on foreign currency, managing overseas representation, and defense opportunities.

You can do international business, every day, everywhere. We can help. Learn more at this year's Virginia Conference on World Trade.

2015 Virginia Congressional Luncheon



Join the Virginia Chamber for our annual Congressional Luncheon with Virginia's 13-member federal delegation. Don't miss this unique opportunity to ask your representatives about the most pressing issues important to your business, including potential changes to health care, taxes, labor laws and more! Senior members of Virginia delegation serve as guest speakers.  
   
Register today--seating is limited to 200 attendees!

Wednesday, November 18, 2015
11:30 AM - 1:30 PM
Russell Senate Office Building
Kennedy Caucus Room 325
Washington, DC


December 4, 2015
Williamsburg Lodge
9:00 a.m.-2:00 p.m.

On December 4, the Virginia Chamber of Commerce will host its signature annual event: The Virginia Economic Summit.

Featured Speaker

Senator Tim Kaine

Other agenda items include:
  • A policy briefing on the federal 2015 Jobs, Growth, and Opportunity Agenda from Dr. J.D. Foster, Deputy Chief Economist at the U.S. Chamber of Commerce
  • A briefing on the Virginia Chamber's Blueprint Virginia 2016 Roadmap for GROWTH. This growth agenda, focused on regionalism, reform, innovation, workforce, trade, and entrepreneurship, will form the basis for our government affairs advocacy in the 2016 General Assembly session.
  • Respected economist James Koch will share the key findings of the Virginia Chamber Foundation's State of the Commonwealth Report, an economic profile of major trends in the Commonwealth. 


The Effect of Regulations on Entrepreneurship and Employment
 
According to a recent study conducted by the Mercatus Center at George Mason University, regulations detrimentally impact job growth and the rate of new start-up businesses.  From 1998-2011, industries with numerous regulations had fewer new start-up companies and slower employment growth rates. The Mercatus Center found that doubling regulations in an industry leads to a 5 percent decrease in new hires. According to their recommendation, just returning to the modestly lower level of regulation of the late 1990s would lead to over 6,000 additional new businesses being started and 100,000 new jobs being created every year.

To download the full study, please click here.
Is that Wetland Jurisdictional? A Practical Guide to the New Clean Water Rule

By: Channing J. Martin, Chair, Environment and Natural Resources Group, Williams Mullen

The Clean Water Rule recently issued by EPA and the Army Corps of Engineers defines the scope of federal jurisdiction over wetlands and other "waters of the United States."1  It's effective on August 28, 2015, so you need to understand what it means for you.  The new rule - issued, in part, as a result of the regulatory morass created by the U.S. Supreme Court's decision in United States v. Rapanos, 126 S. Ct. 2208 (2006) ("Rapanos")  -  is intended to make it easier to determine what's subject to federal jurisdiction and what's not.  Does it?  Read on.
This article begins by examining the long and winding road through the courts that got us here.  It then describes the basic parameters of the Clean Water Rule and some of the practical difficulties concerning its implementation.  Finally, it describes the litigation that has already been filed challenging the rule and looks at what's to come.

Click here to read the complete guide.
Nominations Now Open for 21st Annual Fantastic 50 Awards!

April 28, 2016
Westfields Marriott-Chantilly, VA

The names of fifty of Virginia's fastest growing companies will be announced at the twenty-first annual Virginia's Fantastic Fifty Banquet.  

Program Requirements:
  • Nominees must be privately held companies headquartered in Virginia.
  • They will be ranked by four-year average growth rates (FY 2011-FY 2014).
  • Their base fiscal revenues must exceed $200,000 and their most recent fiscal revenues must be less than $200 million.
  • They must also demonstrate year-over-year positive revenue growth and positive net income in their past four fiscal years.
Nominate your company or a deserving
 client who meets these requirements here.

 

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Signature Sponsors:



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SPQA Supports Growth for Virginia Businesses
The U.S. Senate Productivity and Quality Award (SPQA) is a nonprofit entity of the United States Senate that was created to strengthen Virginia and D.C. businesses in order to compete on a statewide or national scale. SPQA uses the Baldrige Excellence Framework to train an organization's leaders and evaluate its management system in order to sustain and foster economic growth. The Baldrige Criteria is the most rigorous criteria for the evaluation of performance excellence and business quality. Each year highly-trained examiners use this framework to train and evaluate award applicants from a variety of sectors, including healthcare, education, government, service and manufacturing. 

For example, the U.S. Senate Productivity and Quality Award (SPQA) recently announced its "Ones to Watch" program, which engages Virginia small businesses in improving operations across financial results, effectiveness, customer loyalty, job creation and more.

"Today Virginia is home to many thriving businesses, and the SPQA 'Ones to Watch' program charts a course for how these companies will grow," said Tim Kaine, Senator for Virginia, and Honorary Chair for SPQA. "No doubt, the companies dedicating their time to such a focused effort will see the return ten-fold. That's great news for Virginia."

SPQA provides training and assessments to help Virginia's small businesses thrive. SPQA trainings are designed to help businesses understand and implement various strategies based on the rigorous Baldrige Excellence Framework. Learn more about courses for your business at spqa-va.org or contact executive.director@spqa-va.org.
Businesses for the Bay Ready to Kick-Off

All are welcome to attend the kick-off to learn more about successful business sustainability initiatives and how they link with targeted Chesapeake Bay restoration efforts. 

To register for the Businesses for the Bay kick-off on November 10, please click here.

If you are interested in learning more about Businesses for the Bay, please contact Corinne Stephens, Alliance Business Partnerships Manager, at cstephens@allianceforthebay.org.