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CDFA Virginia Financing Roundtable Newsletter - May 2017
May 3, 2017
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CDFA Virginia Financing Roundtable Newsletter


Bloomberg BNA Receives $500K Grant from VA's Commonwealth
Bloomberg BNA, a wholly-owned subsidiary of Bloomberg L.P., the global business, financial information and news leader, will invest $5.5 million to expand in Arlington County, including the consolidation of its operations currently based in Maryland. Virginia successfully competed against Maryland and Washington, D.C. for the project, which will retain approximately 1,000 jobs and create up to 125 new jobs over three years. 

CDFA National Summit Call for Submissions
CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

Coal Counties in VA Support Amendment to Block Economic Development Funding Shift
Representatives from three counties in Virginia's coalfields region are supporting Gov. Terry McAuliffe's budget amendment blocking transfer of funds from a local economic development authority for creation of an international marketing initiative.

Incentives Push Northern VA Data Center Growth
Legislation making qualified data center facilities exempt from Virginia's sales and use taxes went into effect in 2009. To qualify, data center providers must spend at least $150 million and create between 25–50 new jobs in the area. Those tax breaks have since been extended through 2035, providing long-term visibility into operating costs for data center operators. 

Karn Custom Woodwork Investing $2.25M to Expand in Richmond, VA
Karn Custom Woodwork (KCW), an architectural millwork manufacturing and installation company, will invest $2.55 million to expand its headquarters and manufacturing operation in the City of Richmond. Virginia successfully competed against Maryland and Washington, D.C., for the project, which will create 30 new jobs.

Shamrock Farms to Create More Than 70 New Jobs in Augusta County, VA
Virginia Governor Terry McAuliffe announced that Shamrock Farms, one of the largest family owned-and-operated dairies in the U.S., will invest more than $40 million to expand its operation in Augusta County. The company will also commit to sourcing an additional $24 million in Virginia milk. This project will create more than 70 jobs and will more than double Shamrock Farms' production capacity and workforce.

Universal Companies to Create 30 New Jobs in Washington County, VA
Universal Companies, the leading single-source supplier of spa products, will invest $1.5 million to expand its distribution operation in Washington County. Virginia successfully competed against Tennessee for the project, which will create 30 new jobs. Governor McAuliffe approved a $90,000 grant from the Commonwealth's Opportunity Fund to assist the County with the project.  

VA BusinessTax Credit Helps Draw Amazon Project to Frederick County
The Virginia Economic Development Partnership worked with Frederick County to secure an Amazon project to establish an e-commerce warehouse and distribution operation. The company will be eligible to receive a Major Business Facility Job Tax Credit, and funding and services to support the company's employee training activities will be provided through the Virginia Jobs Investment Program.

Upcoming Events

Intro Tax Increment Finance WebCourse
May 10 - 11, 2017 - Daily: 12:00 - 5:00 PM Eastern
This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders. 

Intro Food Systems Finance WebCourse
June 7 - 8, 2017 - Daily: 12:00 - 5:00 PM Eastern
The Intro Food Systems Finance WebCourse examines the development finance programs that sustain a local food system and how investments in that system can drive economic development on a broader scale. Topics covered include federal, state, and local sources of capital, stakeholders involved in the financing process, and case study examples that showcase the variety of financing programs.


State Partner

Virginia Economic Developers Association

Supporting Sponsor

Federal Home Loan Bank of Atlanta

For information about sponsoring the CDFA Virginia Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.

New Members

ICF - Fairfax, VA

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300

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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • Ballard Spahr LLP
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • Miles & Stockbridge P.C.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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