FY23 Marketing Plan, Virginia Economic Development Partnership Authority

Summary

The FY23 Marketing Plan of the Virginia Economic Development Partnership Authority, dated June 2022. A notice at the start designates all portions of the plan except the Executive Summary as protected from disclosure under the Virginia Freedom of Information Act. The executive summary states that VEDP will focus its FY23 marketing efforts on eight key industry sectors: corporate services, food and beverage processing, information/communication technologies, life sciences, manufacturing, offshore wind, supply chain management, and unmanned systems. It also describes planned efforts including site selection consultant cultivation and publication of Virginia Economic Review.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Cite this document

“FY23 Marketing Plan, Virginia Economic Development Partnership Authority.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-rd302-e687fff1aa/, SHA-256 f7bd1da318ff4a712430985f92b973e3db7e32b891cfab80974993d1e9ea79a7.

Full text

FY23
MARKETING PLAN
In accordance with Sections 2.2-3705.3 (7) and 2.2-3705.7 (33) of the Code of
Virginia of 1950, as amended, and Items 33 F.2. and 33 H.5. of Chapter 836 of
the 2017 Acts of the Virginia General Assembly, the Virginia Economic
Development Partnership Authority hereby designates all portions of this
Marketing Plan to be protected from disclosure under the Virginia Freedom of
Information Act, except for the Executive Summary.

                                                                                Mack Trucks, Roanoke County




June 2022
FY23 VEDP MARKETING PLAN: EXECUTIVE SUMMARY
Economic development marketing is a critical component of awareness-building and lead generation. Because the business location
decision process relies not only on defined quantitative evaluation but impression as well, strategic marketing efforts can make a
substantial impact on a state’s ability to attract investment.

The Code of Virginia charges VEDP with economic development marketing responsibilities, specifically requirements to:
§   See that effective economic development marketing and promotional programs are carried out
§   Develop and update biennially a marketing plan for the Commonwealth as a whole

VEDP will focus its FY23 marketing efforts on eight key industry sectors: corporate services, food and beverage processing,
information/communication technologies, life sciences, manufacturing, offshore wind, supply chain management, and unmanned
systems.

In addition, VEDP will implement a targeted site selection consultant cultivation effort to raise awareness and improve perceptions of
Virginia as a premier business destination among this highly valued influencer group.

In FY23, VEDP’s Marketing and Communications Division will make limited but strategic investments to improve the brand image for
both Virginia and the organization (given limited funding is available for recurring, third-party marketing for economic development).
These efforts will include an expanded marketing and collateral system, the publication of Virginia Economic Review, the development
of new online tools, and supporting new events nationally, and internationally. Additionally, the Division will continue to manage
economic development communications and announcements.

The Business Investment team model includes staffing at all stages of engagement: strategy development & implementation, lead
generation, and project management; the structure includes a lead generation team solely focused on business expansion and
attraction with comprehensive outreach (e.g., FDI, domestic, and existing Virginia firms) and a sector-focused approach for deeper
industry knowledge (i.e., products, services, and technology).

Over the course of FY23, the Business Investment Division, in conjunction with regional and local economic development partners,
will attend multiple trade shows and conduct missions to promote Virginia for business. These efforts will be supported by lead
generation calling campaigns and activities conducted by representatives in VEDP’s foreign offices.

The Business Investment FY23 annual lead generation performance goals are 405 leads generated, and 200 leads converted.
                                                                                                                                         1

File and source

File: 2022-RD302.pdf
Size: 1,253,748 bytes
SHA-256: f7bd1da318ff4a712430985f92b973e3db7e32b891cfab80974993d1e9ea79a7
Our copy: 2022-RD302.pdf
Original: No public link identified.