Connecting companies and faculty to grow jobs and opportunity
The Office of Economic Development (OED) serves as a gateway for companies looking to connect with the intellectual capital of Virginia Tech. We provide economic development agencies and business assistance programs with help in identifying the right resources to meet the needs of companies. We further assist companies who directly engage faculty or students to solve problems or want to build teams with faculty to jointly pursue opportunities. We are often able to bring all these partners together in building collaborations among companies, communities, or agencies who seek to innovate and grow.
Among our partners, the Virginia Economic Development Partnership provides companies assistance in site selection and international trade. The Virginia Department of Business Assistance provides one-stop-service for technical assistance related to business formation, access to capital, and workforce development. Regional and local economic development agencies across Virginia provide a closer look for companies looking for help in particular communities. Virginia University-Based Economic Development group a network of offices like OED from universities across Virginia meets regularly with economic development agencies to provide better connection for companies looking for the resources higher education institutions can deploy around the state.
Key Projects and Initiatives
Faculty and companies come together in a lot of different ways. Virginia Tech is a founding member in the Commonwealth Center for Advanced Manufacturing near Petersburg, along with Rolls-Royce Aerospace, Cannon, Newport News Shipbuilding and others. The university has also provided leadership for the Institute for Advanced Learning and Research in Danville and most recently the creation there of the National Tire Research Center in partnership with General Motors. We have fostered growing partnerships with firms in nuclear engineering and wireless communication that led to the recent opening of the Center for Advanced Engineering and Research in Bedford County. We have put engineering faculty on the shop floor of both big and small firms in western Virginia's transportation equipment manufacturing sector developing innovative new products. We have also brought leaders from technology firms across Northern Virginia to connect guide the creation of our new Arlington Research Center, which houses faculty in critical areas like cyber security, informatics and energy.