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Agency Virginia Economic Development Partnership (310)
Measure Name 10-Year State Revenue Generated by Jobs Created and Billions of Dollars Invested by New and Existing Companies
Measure Last Modified
11-18-2014 10:34 a.m.
Measure Last Published
01-13-2015 04:04 p.m.
Status
Active
Data Source and Calculation
The Virginia Economic Development Partnership has used a Return on Investment (ROI) calculation to estimate the ratio of State revenue generated from announced jobs (numerator) divided by a total of VEDP operating costs and State-based incentives since 1995. The ratio has typically been reported for a 10-year period. This measure is based on the revenue portion of that calculation. The Measure Baseline and FY2015 Target are based on a ratio of 10-Year Estimated State Revenue per Actual Announced Job for each of the past five fiscal years (FY2010-FY2014). Those annual ratios were then averaged into a single amount of 10-Year Estimated State Revenue per Announced Job and multiplied by the "All" FY2015 Job Goal. The result is an estimate of the 10-Year State Revenue Generated by Jobs Created and Billions of Dollars Invested by New and Existing Companies. It should be noted that both the Jobs Created and the Dollars Invested create the future revenue stream.
Enterprise Priorities and Strategies
Initiative Priority Strategy
Economy Business Climate and Economic Development Promote Virginia’s competitive business climate to maintain the designation as the best state for business.
Associated Service Areas
Service Area Code Service Area Name
53412 Economic Development Services
Targets and Baselines
Name Date Result Note
Baseline None None
Short Target 2025 None None
Long Target 2027 None None
Results
Year Result Note
2014 815 This amount is unusually large as a result of one significant project in FY2014.
2015 1,125 Jobs Numbers exceeded the goal by 27+ resulting in much higher revenue generated for FY2015
2016 No longer calculating or publishing this measure
2017
Measure ID 310.0001
Measure Class Agency Key
Measure Type Outcome
Year Type State FY
Preferred Trend Increase
Frequency Annually
Statistical Unit Millions of Dollars
sp134 Performance Measure - 06-07-2025 05:30:08