Economic Development Authority Meeting   3/19/2024

All right, so I'll call the meeting to order.

and we do have one board member who wishes to participate electronically or virtually.

So Director McNaughton has notified the chair that he would like to participate electronically because of a medical reason.

I need a motion to allow him to participate.

A motion, a second, and a vote.

All right.

I motion to allow Director McNaughton to attend remotely.

All right.

All in favor?

Aye.

That works.

All right.

So on to matters from the public.

Is there anyone?

There are no matters from the public.

All right.

So next is the approval of the minutes.

The minutes were circulated at the agenda.

Yes, so there's been no changes to the financial reports since the last meeting.

Hearing none, we will move on to new business.

Yeah, thanks, Mr.

Chair.

I'll give a

Couple slide presentation myself and then turn it over to our presenter, Dr. Nikki Hastings.

Dr. Hastings came to our February meeting and gave a preview of the information that she'll share today.

I thought it would be helpful to provide some context from a staff perspective of the value of this grant opportunity.

In particular, wanted to make sure that the EDA was aware that life sciences and the types of businesses that Segal Biohub supports is a target industry and the support for this grant would be consistent with Project Enable, our strategic plan.

There's multiple statements within our plan that would indicate support for this type of proposal.

We've had a lot of discussion about the regional impact of the defense industry as we've been working on Rivanna Futures, but it should not go without saying that the biotech sector in our community has very close to the same level of impact economically as defense.

And the Weldon Cooper Center also did the analysis showing

that was published back in 2020.

So I wanted to share that with the EDA.

The other things that come to mind that Nikki may not say herself are that they are wrapping up their third Go Virginia!

grant and they've

out-performed in all of those cases and so we are confident in her ability and the organization's ability to carry, to make this a successful grant as well.

And then lastly is the

the return on investment.

Whenever we're making grants, we're trying to leverage other sources of funding.

And this is the resolution that's been provided to the EDA today is to support a $300,000 local grant match that would leverage a $4 million grant from the state.

So that's a little over a 13 to one return on investment.

So it's a good one.

The other thing I wanted to talk about was process.

And before I have to stick my foot in my mouth, I'd like to introduce Shannon Holland, who is the Region 9 Go Virginia coordinator, who oversees Go Virginia grants in our region and knows much more about this process than I do.

But I thought it would be helpful to try to show a timeline of

If the EDA were to approve the resolution today, what are some of the next steps that would take place?

And so this is really an authorization of that local match that's required simply to make applications.

So a completed application, again, if approved, would go to the Region 9 Council, then it would go to the state in June.

That's that 6-11 board meeting date.

With that, staff would then go to the Board of Supervisors to have an appropriation of this local match.

And at the same time, SEVO Biohub and Go Virginia would be finalizing the performance agreement.

One of the items distributed with today's agenda is like a draft agreement.

So if there, you know, as we get into questions around stewardship and

how money would be paid out and what it would be used for.

This gives you a little bit of a sense of kind of the timeline running up to that.

And and this attachment spells out, you know, how that how that would be governed.

Just one quick one for you.

It sounds like the money is not already appropriate.

That's true and so we in the past have gone to the board ahead of time to say hey we're aware of these grants coming up in the queue and if we could pre-appropriate

that we have adopted policies for, things like our VJIP grants, those are the job creation grants, our AFIT grants, our Commonwealth Opportunity Fund grants.

We have adopted policies for that, and so the board at one time gave us kind of a bucket of money specifically for those.

Go Virginia, we don't yet have an adopted policy for.

and this would also be the largest grant the EDA has ever supported.

And so for those reasons, staff would go back to the board for appropriation after consideration by the state.

But it would come with the strong endorsement of the EDA as well as the state when the board would see it and, you know,

And I think one thing I mentioned to J.T.

was I think this process and how we engage with the board may be something that we want to talk about when we have our joint meeting is

Authorities that they want to give us in terms of saying, here's money, here's the framework, you guys make the decision, or how much of it do they want it to go this way?

Any other questions?

All right.

Thank you so much.

It's wonderful to be back and see everybody.

I'm gone from winter to spring and back to winter.

A lot has happened for Civo Biohub and this project since I last presented to you as the project was starting to unfold quickly.

Today, I'm sharing with you the project-specific overview on what we're working to do in order to move companies out of the university setting from early-stage biotech

into commercialized entities under one roof with the services and support that they need to ultimately be more successful than they would be without those types of opportunities.

And we're calling it the Charlottesville Biotech Accelerator.

There's been a lot of names thrown around, but this is what's going in for the grant application to acknowledge that it's here in our region and that we're working with life sciences companies across a very broad definition of the sector, as we've talked about last time,

and Accelerator meaning moving these companies forward faster and giving them the chance to be more successful.

We talked a little bit about this last time but it's one of the best visuals that I've seen that demonstrates what's happening as companies are going from a research stage to a commercialization stage where there are several valleys of death that these companies will hit

where they have a lower chance of being successful or many hurdles to overcome to move forward to the next stage of growth.

And so there's a technological valley of death that happens as companies are moving beyond basic research and coming up with the concepts that they think might be commercial.

into demonstration of commercial products, concepts, and validation through preclinical studies and testing to demonstrate the real commercial potential and opportunity, understanding that there's a true market and market product fit.

And so where we intend to play with the accelerator is in this commercialization valley of death, where we'll be bringing these companies directly to the investor groups that we're collaborating with

currently and want to expand and grow.

The major gaps we have here in our ecosystem includes access to capital.

While you can get seed capital, you can get some early stage

Grant funding for concepts.

It's that next stage, as I mentioned, needing to get to the larger institutional investors.

Once you have proof of concept to move your idea towards ultimate commercialization and products on the market, we lack that Series A investor here.

And there's growth and opportunity for that in the long term.

But what we want to do is bring our network of investors from Boston, from San Francisco and beyond

Beyond Virginia to know what's here.

We want to bring the angel investors to the table early, but then make the handoff to those larger investors so that these ideas can stay and grow here, but have the opportunity to get the investment that they need.

Ultimately, these companies need 10 times more than a software tech company at the Series A level.

So significant capital requirements that are specific and unique to this industry.

We have human capital here.

People that are working within this industry have been successful, but we want to build a groundswell of interest and a place maker where we can bring and draw those people in to say, oh, I've been part of this industry.

Where can I go to help support others in it?

And this idea will help to attract more of those people who want to serve this industry.

Our culture and networks,

have an opportunity for broadening and expanding and growing, not just the networks that are here locally, but also those that specifically serve this industry.

So there are very specific lawyers and accountants that understand the unique needs of this industry that we've brought in as partners.

I'll mention some of those.

We have the startups and we have the academic institutions.

So we think that this community is primed for growth in a way that it never has been before

UVA's major investments into the School of Data Science, into School of Business, McIntire School of Commerce, and specifically the Neo Manning Institute of Biotechnology.

There's a real flag in the ground that we anticipate significant growth from to support spin outs and help them grow and stay here in our region.

Charlottesville is boasting really strong numbers.

I want to highlight this.

We're number 10 in 2023 for medical device seed investments, and that's comparatively to much larger size cities and communities.

So we're punching above our weight in medical devices for the size of this region relative to others.

The investors are starting to look for more emerging markets and more diversity and opportunities for new deal flow.

and we offer that to many of them which they're excited about paying attention to.

And they're attracted here and will come and pay attention to what's going on when we introduce them to the different companies.

And they're really impressed and so they wanna keep finding those opportunities here.

So the networks are growing.

Seville Biohub has been spending the last five years building the strength of this community, the connecting points, the networks inside and outside.

And we feel we have a greater opportunity to have a much

a much greater impact by putting the services and things that we've been successful in under one roof, specifically the entrepreneur advising work that we've been doing.

So we are an accelerator organization today, and our metrics include having served over 100 startups specifically.

We've hosted 67 internships,

Over our time, we're excited about bringing interns into this new accelerator space as well, bringing them direct exposure to the early startups and multiple at one time.

We host a regular monthly speaker series events, 2,500 events.

Attendees have come to our events over its time, and we have a strong following that's growing.

We've received, as J.T.

mentioned, three Go Virginia!

grants to date.

We've been supported by BIPC's Regional Innovation Fund and Quantitative Foundation has supported us with over half a million dollars since our inception.

And we've received our revenue just in 2023.

We've seen increased growth of our grant awards, membership revenue, and sponsorship partnerships demonstrating our

commitment to finding a sustainable model ultimately for the organization.

So our solution here is, as I mentioned, the biotech, Charlottesville Biotech Accelerator.

We want to bring companies in, spend one to two years with them, and move them through this process of doing upfront due diligence, understanding what they need, understanding that we can serve and move them to the next stage of growth.

in that timeframe and get them through milestone progress and ultimately funded at what we call a demo day.

Our values are excellence in science, relational excellence, bringing these powerful networks together specific to this industry, cultivating the industry mindset, going from academic to industry mindset is really critical.

It's a critical moment to get over that hump of commercialization value of death, providing the best advising possible

given the people that have been there and done it before, bringing a founder-centric engagement process and supporting the founders where they are instead of saying, here's the box and we're gonna put you in it.

Founders want to have their own path driven by the advisors coming in and supported on an individual basis and then bringing them to investment viability.

So,

We're going to collaborate here on this process with UVA and we're in conversations with them since our last discussion around a contribution of space that includes the North Fork Research Park, the Biocomplexity Institute space 5,000 square feet in total, and we'll have access to shared offices and labs, which we mentioned.

There's interest from UVA in ensuring that UVA technologies are supported by this initiative, and we've talked about our target audience will be 50% UVA spin-out companies, the other 25% having some connection to the university, maybe alumni or others, and then other underserved but really high potential concepts that we believe can help bring a more rich ecosystem to the table as well.

So how will this all work?

The experience will be companies receiving upfront cash in return for 5% equity and subsidized rents.

They'll receive state-of-the-art facility.

It is top-notch build-up infrastructure at North Fork Research Park.

We'll provide them with office hours on an on-demand basis, community access to all of the programs and processes we've already developed over our last five years as an organization,

Individual advising, as I mentioned, pitch perfection, where they're getting up just like I am today, maybe, telling their stories in a way that gets the enthusiasm and interest of investors, and ultimately strategic funding guidance.

How do they plan for the long term for success?

So last time I showed you just the picture of the building.

We now have these beautiful pictures of actually what the inside looks like.

This space has gone unused for several years through the pandemic.

I don't believe it's ever been occupied and it's turnkey.

So we can put equipment in and plug and play and we're going as quickly as possible.

It is the most de-risked opportunity we will ever have for this idea that we've come across in our time in searching for space and opportunity and collaboration.

So this is what we're really excited about.

It saves us about $5 million in build-out and two years in time to get started.

So we're really thankful for UVA's interest and commitment.

They're making their final decision tomorrow, but all signs are pointing to yes.

And we're hopeful that this comes through.

But it is a win-win for the community, for UVA, and all of the stakeholders here.

Many have asked, well, who are the companies you're bringing into this space to get started?

We really already have two that we're claiming as our early access program companies that we've been spending a fair amount of time with over the past year or two.

Built DNA is a group that's actually been working in Madison County, built their barn.

He had his barn in the pandemic, put some lab space in there, and he's building long, complex DNA structures that are useful in gene therapies.

and we've introduced him to some investors that are right now looking at investing $3 million in his pre-seed round.

But he wants to grow this company here.

He said, right now I need a mailbox.

So can you all help me with that?

Obviously there are many more needs beyond that, but those are the kinds of requests that sometimes come to us and we wanna be able to serve those needs and then go beyond.

Mobius Scientific won our pitch event last year in October.

They're actually a DC based company.

that we are bringing legal services to for their macular degeneration product that they're developing.

They're preclinical, so they're very early stage.

but we think through this relationship, they may have interest in relocating or building partnerships with UVA or others within our region and so that's a new burgeoning relationship.

It's a good sign, Nikki, when emergencies happen.

It happens to everybody.

So I mentioned some of our key partners.

We're building a really deep network at this point of industry partnerships.

I mentioned some of the lawyers, Cooley and Wilson Sonsini are two of those that are part of this initiative right now.

They will be spending direct hours with the companies

These are services they're getting pro bono.

The companies are getting that they would not necessarily be able to access at the cost that they are at the level that these firms offer.

But the firms are incentivized to help these companies early so that they're also successful.

So we're all aligned in supporting these companies towards success.

Many of the others you may see as familiar on there.

And we continue to build out our industry partnerships.

We have a strong investor network, including some of the local groups like Cab Angels,

LBG Seed Fund, et cetera.

And I do want to mention that this project in particular is supporting fostering academic to community relationships across Virginia.

So while we're going after a four million dollar grant, so is Verge Alliance in Roanoke-Blacksburg and Activation Capital Enrichment.

So we have a three-pronged approach to building this community by being the entities that sit just adjacent to the university, helping to pull out the research and technology to commercialize, but then partner together to build efficiencies across the state.

And this is very much aligned with the governor's interests and the identification of a new research triangle that was established.

I won't go too deep into our timeline and milestones, but happy to answer other specific questions.

We anticipate having three cohorts go through this process during our three-year timeline.

And ultimately, we need to plan for sustainability pretty early on in our second year at the latest, because this is a long game to see these companies ultimately be successful.

So we see this as a 10-year project, ultimately.

but the pilot itself will help to prove the concept for which we intend, we believe we'll be able to go after some additional funding from venture capitalists, et cetera.

I've mentioned our team before, all experts, these are entrepreneur advising team and experts have been in private sector working with startups and it's a strong team that's been working together now for over two and a half years.

We have a strong board of directors with diverse backgrounds in finance, industry, and entrepreneurship, as well as medicine.

We have two representatives on our board from UVA.

We'll be putting one more on this board as a part of the project.

Total project includes a budget of $8.5 million.

We have thought about what do we, if we don't get to the eight and a half million, we've got a six million dollar request going into the state.

There are ways we could pull back on the one and a half million on direct investments through this pilot project.

Although we'd like to incentivize with those direct investments, we'll continue to fundraise for these things.

But we can get started with the approval of the Go Virginia grant is the ultimate point to make here.

What gets complicated here is thinking about the grant itself and then the match requirements.

And we require a $2 million match for the $4 million grant.

And some of that match can be provided in-kind.

UVA's in-kind support is a $750K contribution, but we aren't including that as our match for the grant.

Just to exclude concern or question around in-state

contributions that have already been given.

These need to be non-state supported contributions.

So we have our lawyer support in-kind services at $550,000.

We have some private investments.

UVA Innovates is the new entrepreneurship program that Mike Lennox is leading and making this recommendation to the president.

Tomorrow he's putting in some from his own budget.

And then we need a locality commitment, ideally of 20% of the 2 million.

We'll be just short of that because city of Charlottesville is actually bringing 75.

They said, you know, we can perhaps ask for more down the road, but they could definitely commit 75 for this grant contribution.

With your support, I believe we will receive the additional 765

from the Paul Manning Family Foundation.

So we spoke to them on Friday.

They're very encouraged.

We are very aligned with Paul Manning's vision, which extends beyond the university, just as ours does.

And they said, how's the county?

Are they in?

We said, if the county's in, then maybe Paul Manning's in.

And I think this will be a really exciting opportunity for us all to show we're working together to build this region.

and the sector specifically here.

So we do have some specific remaining cash needed, but I mentioned we can get going and we'll continue to figure out the rest.

So what are the outcomes?

We, in 10 years, wanna prepare 100 companies for commercialization and have our three-year projected accomplishments, including 25 million raised from these companies

15 major milestones accomplished and a 90% survival rate.

Essentially, most of them get over that hump of commercialization, valley of death, and they're moving forward in a much more prepared way to be successful.

We intend to take ownership stake in 15 of these companies, which could be potential sustaining funds for the organization itself.

and other partnerships.

And ultimately saying, should we go raise a small fund that we can invest into these companies beyond the direct investments through the nonprofit that we've been talking about.

And already have heard that the Manning Group is interested in that as well.

These are some of our Go Virginia predicted outcome metrics, which are aligned with what I just shared.

and we'll really be creating two new programs here, the accelerator program, also opportunity for incubation.

We just received last week a group saying, hey, I'm moving to this region with my wife in July and I need 500 square feet of space.

I've been working in an incubator.

Where can I go in this region?

Now we'll have an answer and that's pretty exciting.

So we'll be able to serve some of those companies that want to have a pay to play scenario also.

Our ask to the Albemarle County EDA today is $300,000 towards the Go Virginia grant.

And this would be $100,000 per year for the three-year period in our pilot project.

I do want to highlight this last point that the funding will be applied directly to the contract advisors, the entrepreneur advising team that are directly spending the most time with the companies, almost as a team member, to move their ideas forward.

help them be successful.

And there's alignment and aligned motivation between the advisors and the companies towards success.

So we think that's a good use of the county's money where we'll have the most impact on economic output and potential.

So with that, I appreciate your time.

Do you want to get questions?

Do they want to talk?

Sure.

I didn't prepare any remarks.

Sure, we'll wing it.

So I would just like to say that I think most communities would kill to have somebody like Nikki leading the way on this.

I mean, she's an exceptional figure, very well respected, the amount she's accomplished in the last few years.

with very meager resources is beyond impressive.

And I think it also points to the fact that she's here, we're here with her.

Like no one of us can do this by ourselves.

UVA can't do it by ourselves.

I think you can't do it by ourselves.

Go Virginia can't do it by themselves.

We just can't.

So I think that this is a really great opportunity to walk the talk that we all talk about when we talk about collaborative economic development.

and I think one more point because I know you all are very invested in the Rivanna Futures.

I mean, Nikki talked about this being a big economic impact alongside the defense sector, but they actually intersect in a lot of areas.

So we've been talking about the opportunities to merge data science, the life sciences, defense sector.

So it really blends beautifully, I think, with some of the other initiatives you all have supported.

And I would just encourage you to think

and I know you will closely about this because it's an amazing opportunity to build out the life science sector and really take it to the next step.

I mean, Nikki's been operating an accelerator without walls, in effect, and has done amazing things, but without that physical space.

You didn't have a slide in here, I didn't think, but we don't have any well-kept space here.

You know, Roanoke does, Richmond does, Northern Virginia does, Blacksburg does.

We don't.

And so it's sort of a crime that we have this amazing life science sector.

This is really, I think, compelling about what we're lacking and what could be possible if we had the infrastructure to do this right.

And this is something

At the state level, they're talking about what kinds of investments and infrastructure need to be made across the state so that we have these robust, fertile grounds for economic growth.

And this has definitely been a constrictor for our region.

So we're really excited about it.

I think Nikki is just an amazing advocate for this and has done a great job.

I mean, her background just is starting, you know, working for a startup.

She teaches students about startups.

She works with startups now.

So

Thank you.

And I'm sorry, I did not formally introduce for all the people who are watching on Zoom.

This is Pais Lottie, the VP of Economic Development for the University of Virginia.

So just for the record, that's...

Thank you.

I'm Shannon Hollander, director of Virginia at Region 9.

It's hard to follow Pace and Nikki, but just briefly, this particular type project has been an identified opportunity for economic impact in our entire region, but with most of the sub-region of Albemarle, Charlottesville area.

Since 2007, the first growth plan in our region was established.

We have worked steadfastly with UVA and the Biohub to move this project along multiple discussions with the public sector, private sector.

The amount of private sector support is astounding.

And that's really important.

Along with the university support, that is the key for Go Virginia's support.

And that's where this leverage, additional leverage comes in.

And I think the kingpin of all of that that brings it all together is having this CIVL Biohub, which is a nonprofit entity that can

reach into the university and identify the resource and help deploy them locally for maximum impact.

And all the projects we worked on have exceeded expectations, as J.T.

alluded.

All right.

Are there questions, board members?

Comment.

Well before 2017, I've been hearing about the need for this space.

I mean, I've been involved with the startup community, I guess you'd say, for over 20 years, and it's been an issue for years and years.

And I think one of the things that occurred to me today when I was listening to this is, you know, these sort of

Businesses are part of Project Enable.

They're what the county focuses on.

And if we can have that space, because it's so difficult to get that, we'll bring the people in here that we might not have otherwise, because they're right now forced to go to other places like Richmond.

So I think it's an investment that then helps us succeed even more.

So that was one of the things that occurred to me.

I was curious what other

taking a significant stake at the very front end and then following through with the ones with follow-on money with the ones that are demonstrating success.

But it's a great model to be able to take equity up front and then hold back additional capital until you've actually followed them and become part of their team and you know what they're near to accomplish and you can really de-risk as much as possible.

So there are more successful and less successful accelerators

I think key to ours will be having the right people in it and the right advisors to support it, bringing in the right people outside of even the advisor.

So when a company says, I need to know what is the right next experiment, that we can turn to UVA and say, oh, well, we've got those researchers right here who might also help guide you.

And we'll leverage the network.

Obviously, Paul Manning's commitment here

brings an entirely next level of network to the table.

But I imagine that with his commitment additionally, we'll be able to expand that opportunity.

And those are really key concepts that I think can emerge from this, is that not just we have core advisors who are committed to supporting founders, but also the best scientific expertise coming to the table to guide that next step.

Any other questions?

More, again, along the lines of a comment and I think we talked about this last month and I worry that after they've successfully deployed from the incubator, we need to have the space for them to stay local and

I'm looking at staff going, hey, are we going to get this lab space that they need because they can't stay, right?

That's it.

And I know that maybe it's the

We want them in the community somehow and did not have to rely on UVA space necessarily.

So that's my only concern because everything sounds great.

I totally share that concern.

And after our conversation from the last meeting, I was reminded of a step that we had taken prior to getting this project was to start to attract real estate developers specific to life sciences to this region.

And two in particular have shown real interest in Charlottesville.

One is down in North Carolina and Cora and the others in Maryland, Shear Partners.

And Shear Partners actually put a bid on a space in the city

It fell through because of seller requirements.

And I think that if we start building this, that we can then re-engage in those types of conversations and say, hey, there really is the next stage happening here.

And one of the big questions from Ancora was, well, how is the university participating in this ecosystem building?

And we now have them as a partner at the table.

And I think Ancora could be,

come back in and be more committed to helping to build outside UVA space to serve these companies in the long run.

I think the North Fork Research Park is a viable opportunity as well.

We've got 562 acres at North Fork.

I think companies coming out the other end of this are going to be even more de-risked and more attractive to investors, so I don't know that

The physical space will get built.

It might not exist exactly today, but I think it's going to be hard for people like Mickey mentioned coming in and the Ancoras, the Alexandria Real Estate folks.

No, I think that's right.

My worry is that we don't move quickly enough and they relocate to Richmond or Roanoke or if they can afford it, Northern Virginia.

But the other two certainly, I think, are going to be affordable for them as locations.

I mean, it's great for the Commonwealth and then from a Go Virginia standpoint, but for our

developing these companies, we get them to this level.

We're going down to Roanoke because they've got the lab space and you're still building it.

Well, I think some may leave, but we may get some from Roanoke, we may get some from

from Richmond.

So I think it just is this additional activity really opens up a lot of new avenues for it.

And I think, you know, this is economic development.

It's not like it just starts when they leave the incubator.

It's it's these are active jobs, too.

What I've experienced in the past on similar similar projects like this is that when you don't have the space, but you make the investment in a certain area,

and then the market starts changing as it's growing.

And then as the market increases in demand, all of a sudden there are developers and investors out there that will move quickly to catch up with that need.

But usually you have to get to a certain point of really obvious justification.

And keep in mind, too, this is

This program will also employ people that are here, existing people, existing students, which is a main focus of Project Enable in the bio sector.

So I personally can't see anything wrong with this as an advisory to you.

And today we're not writing a check or anything.

And I want to mention one of the programmatic pieces we've talked about and others have advised us that have had these spaces saying you need to help prepare these companies for step up space the day they walk in the door.

And we'll be bringing specialized programming to them, whether that's on the legal side or accounting side of things, but also on the real estate side.

and we have this great partnership with Shear Partners.

They've helped advise us on the budget here.

A broker can come in and say, hey, here's how you need to be thinking about what you need to build out.

We can help you.

Here's the inventory in the region and kind of emphasizing the opportunities locally.

And I think that's been a role we've been playing for many companies that come find us, but we've now engaged with experts in the field that can be an advocate for those companies.

So we share,

the objectives of growing them and retaining them in the region.

And I think we want to do what we can to support that.

You wanted to add something?

I would be brief that just ecosystem wise, you're across the street from the South Virginia partnership out in Northport.

And of course, with the Albemarle team here, there's a way to engage in some activities, but there's startups as well to help them thinking about

All right.

Is there any further discussion?

I just have one, just from an unusual situation that just happened.

I learned tonight.

There's really the accelerator prospects listed.

It happens.

It's happened after a vote, too.

So, any further discussions?

Hopefully no more recusives.

Director Long?

Aye.

Director Reyes, absent.

Director Mottola?

Aye.

And then we're going to pass it on back this way.

I did bring our VITA mascot and some refer to her as Cardi B and she likes to take pictures when we go to VITA conferences.

This is just a little

That's right.

She goes everywhere in Virginia.

Thank you.

Yes.

And some pictures.

Last week, most of our our office staff were able to attend the VITA spring conference.

It was just right here in town.

And it was the largest conference that they have held to history.

or to date.

And so it was a lot of economic development folks and it was really fun to have it here in town.

And some of the topics that we were able to learn about at this conference were the economic value of the Virginia Community College System.

We got an update on public policy and they wrapped it up with discussing sports tourism, some interesting panels on sports tourism

on all the tournaments and youth sports that occur.

In addition to learning, you all know that it's a great opportunity for us to meet and chat with

Friends that we work with in the industry and meet some of, you know, put faces with names that we might deal with on a daily basis and have some fun in our industry and work.

So it's a great fun event.

They did have a walking group as well, but they were both very early mornings.

There was over actually over 300 people from across the state in attendance.

And it was heavily attended by the Virginia Partnership, where lucky me as being the fairly new guy, I was able to meet all of many of them and have discussions with them.

So it's good.

All right, moving along.

The Piedmont Pitch, as you all know, is coming up in April, April 10th, and that's going to be held at City Space down on the downtown mall.

And you all received an email, I think, from me, and several of you have responded with your inability to judge.

But if you are interested in judging, I'm looking at you two, JMs, you're welcome to share your interests with me.

But it's a fun night, and it's an exciting event for local entrepreneurs

and if nobody can't do it, Cher Long has graciously offered to wear the cape that evening.

But please just let me, I'm sorry, he just wants an excuse to hang out with me, I think.

Please do let me know if you're interested.

And in addition to that, I'd be remiss if I didn't give our community partners, the partnership, CVPED, they have a TechLink program,

that is a talent and workforce investment program and they're partnering up with the UVA Career Center and CBEC, the Charlottesville Business Innovation Council for a networking event that is coming up on April 9th at the Dairy Market and they're expecting about 50 UVA students that are highly interested and invested

and staying in the region and taking tech jobs, biotech, but business financial service positions.

So if you or any of your cohort or colleagues have anybody that's looking to hire some talent, it'd be a great event.

And just reach out to me and I'll give you the contact information for Katie Delaney at the partnership.

Yeah, I wanted to keep you informed that

You know, we are we have a heavy defense presence here with that has made what a one point two billion dollar economic impact every year.

Part of our outreach in we are planning on doing more outreach and supporting our existing companies.

We have numerous companies that are attending a conference next week called the Association of the United States Army.

But this is a great place for us to illustrate our support of our existing companies and raise awareness of our county and what we're doing.

So I'll be attending that next week just for your information.

Will your friends be there?

Excuse me, Barry.

The association?

It's a trade association for the United States Army, but any company that's ever sold a boat, a service, an airplane, a helicopter, a radar system, any company that does business with pretty much any of the military, they're there.

This one is the spring conference that is heavily themed on particular topics, but the one later this year that we'll talk about later, there's discussions of a group of us attending in October, where this conference coming up next week is

Over 6,000 attendees with 200 displays of technology.

The one in October, over 33,000 people show up and over 700 displays.

So this is where the army goes, the army claims.

Oh, no, no, no, no, no.

We're just attending.

No, we're not displaying or anything.

We're just going to show our support to our existing companies and raise awareness of what we're doing in other areas.

We're actually in discussions about hosting a different conference coming up in October.

So that that is very in line with the missions of some of the defense industry here.

So thank you.

That's

And finally, the joint meeting with the Board of Supervisors is scheduled for Wednesday, August 14th at 5.30 PM.

And then Director Morrill will be missing you.

And then invite them.

It's a calendar hold, yeah.

All right.

Alright, anything else?

Any unfinished business?

Other matters?

We will get a schedule for the review.