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Gov. McDonnell Releases Report Promoting Virginia Cybersecurity Assets and Initiatives

Gov. Bob McDonnell recently released a report outlining Virginia’s cyber industry and promoting the Commonwealth as the leading cybersecurity ecosystem in the U.S.

Virginia has the highest concentration of technology workers and is home to more than 300 cybersecurity-focused companies. Virginia is also home to numerous cyber-related federal assets including the CIA, the Pentagon, DARPA and the U.S. Army Cyber Command. According to the report, federal spending for cyber is estimated to be $13.3 billion by 2015, and the 2012 Department of Defense budget for cyber alone is $3.2 billion. Cybersecurity spending as a whole topped $60 billion globally in 2011 and is expected to grow at a rate of almost 10 percent every year, over the next three to five years.

“The Commonwealth’s blending of a business-friendly atmosphere, a top-notch education system, numerous defense R&D centers and extensive infrastructure has laid the foundation for a vibrant cybersecurity industry,” said Virginia Secretary of Technology Jim Duffey.

Gov. McDonnell’s cyber initiatives include: continuing STEM and cyber-specific education at all academic levels; increasing cyber R&D at Virginia’s universities; encouraging company formation and investments through the CIT GAP Funds; and creating a National Center of Cyber Excellence, which will aid in cyber economic development.