RD56 - Annual Report on the Activities of the Virginia Israel Advisory Board


Executive Summary:
During the FY 2005, the VIAB was active in creating and executing a new model for business development. The "VIAB Business Model". The model identifies an asset in Virginia that can work with a targeted group in Israel, interviews at least 25 targeted companies in Israel, and then selects the four best companies to continue with the process in Virginia which includes three days of intensive targeted meetings and ongoing close follow-up.

The VIAB continues to identify and attract small and medium manufacturers to consider the State for their expansion needs. We will partner with the VEDP in developing a program that will attract 25 targeted manufactures to a seminar in Israel. We continue to face significant competition from North Carolina which tends to offer greater incentives than does Virginia.

FY 2006 will result in additional implementation of our new business model which should result in additional Israeli companies expanding their US presence through Virginia. We estimated that current VIAB's activities should result in a net projected increase in jobs in Virginia over the next 2 years of 200+ jobs.

In May, 2005, successful cultural program between Cape Henry Collegiate of Virginia Beach and Alliance High School form Tel Aviv, brought twenty-six Israeli students to Virginia for a cultural exchange program with Cape Henry. The teacher exchange with Israel is scheduled to reactivate in FY 2006 after an interruption due to the political situation on the ground in the Middle East.