Northern Virginia Technology Council | Press Room | NVTC Board Members Participate in Roundtable with Federal Reserve Bank of Richmond

May 11, 2011
www.nvtc.org


NVTC Board Members Participate in Roundtable with Federal Reserve Bank of Richmond

On Tuesday, May 10, a group of 14 NVTC Board members and representatives of NVTC Board member companies participated in a roundtable with Federal Reserve Bank of Richmond President Jeff Lacker and other senior Federal Reserve officials to discuss the successes of and challenges facing information technology as an economic driver in the Northern Virginia / D.C. region. The Richmond Fed is the Federal Reserve’s 5th District encompassing Virginia, North Carolina, South Carolina, Maryland, the District of Columbia and most of West Virginia.

Federal Reserve Bank of Richmond President Jeff Lacker engaged<br>in discussion with the roundtable participants last Tuesday.
Federal Reserve Bank of Richmond President Jeff Lacker engaged
in discussion with the roundtable participants last Tuesday.

During the roundtable, which was hosted by NVTC Board member Nelson Ford, president and CEO of LMI, Lacker engaged participants in a discussion of the main drivers of and challenges to growth for the region’s IT firms, constraints on entrepreneurial activity, and emerging technologies that will transform IT businesses in the future. Participants emphasized how uncertainty in the federal budget is impacting future investments and hiring in the technology industry, particularly in our region which is heavily dependent on federal government spending. In addition, the group discussed human capital and the contracting workforce, tax policy, cloud computing and cybersecurity.

Fourteen NVTC Board members and representatives of NVTC<br>Board member companies participated at the roundtable.
Fourteen NVTC Board members and representatives of NVTC
Board member companies participated at the roundtable.

In addition to Ford and Lacker, participants at the meeting included NVTC President and CEO Bobbie Kilberg; NVTC Board members Mike Daniels of SAIC, Bob Kahn of CNRI, David Lucien of DCL Associates, Sterling Phillips of GSTI and Dendy Young of McLean Capital LLC; and representatives of NVTC Board member companies Richard Bodson of LeapFrog Solutions, B. Keith Fulton of Verizon, Alex Green of AH&T Insurance, Jeff Planton of HP Enterprise Services, Manik Rath of LMI, Jeff Wilcox of Lockheed Martin and Keith Wine of ACS, A Xerox Company.