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Legislation to strengthen Virginia’s Economic Development Partnership

Staff Writer |
Governor Terry McAuliffe announced that he will introduce legislation in the upcoming 2017 General Assembly session to strengthen oversight, accountability and management at the Virginia Economic Development Partnership (VEDP).

"The legislation we are announcing today will strengthen weaknesses in the management of the Virginia Economic Development Partnership and put the organization on the path to become the economic driver for our Commonwealth we know it can be.

"While it is clear that VEDP executive leadership has undertaken changes to better protect taxpayer dollars, it is clear that more structural changes are needed.

"By strengthening accountability and professional oversight of the organization, and establishing a more strategic framework for its work, we can give the dedicated VEDP staff and its board the tools they need to accomplish their goal of creating more jobs and opportunity for Virginia families.

"These proposals will add executive oversight to the VEDP board and require the VEDP executive staff to develop long-term operational plans to align the organization’s work with the needs of the Virginia economy.

"I want to thank Lieutenant Governor Ralph Northam, Secretary of Commerce and Trade Todd Haymore, and Secretary of Finance Ric Brown for working to develop these legislative proposals that will help build on our success growing and diversifying Virginia’s economy."

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