Virginia Economic Development Partnership Authority: FY2024 Operational Plan, Executive Summary
Summary
The Executive Summary of the Virginia Economic Development Partnership Authority (VEDP) FY2024 Operational Plan, dated June 30, 2023. A notice at the front designates all portions of the Operational Plan except the Executive Summary as protected from disclosure under the Virginia Freedom of Information Act. The introduction states that VEDP was established by the General Assembly in 1995 and that the plan is the annual business plan for implementing the Strategic Plan for Economic Development of the Commonwealth of Virginia (FY21–FY25). It states that FY24 will be the first year of implementation of the Innovative Framework for Economic Growth, which focuses on three core sectors: Knowledge work, Manufacturing, and Transportation / Logistics.
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“Virginia Economic Development Partnership Authority: FY2024 Operational Plan, Executive Summary.”
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In accordance with Section 2.2-3705.7 (33) of the
Code of Virginia of 1950, as amended, the
Virginia Economic Development Partnership
Authority hereby designates all portions of this
Operational Plan to be protected from disclosure
under the Virginia Freedom of Information Act,
except for the Executive Summary.
FY2024
OPERATIONAL PLAN:
EXECUTIVE
SUMMARY American Woodmark,
Frederick County
June 30, 2023
TABLE OF CONTENTS
Introduction to and overview of the FY24 Operational Plan 2
Major Initiatives 17
Appendix: Performance Metrics 19
Appendix: FY24 Budget Summary 21
Appendix: Components of the FY24 Operational Plan Required by the Code of Virginia 25
1
INTRODUCTION
▪ The Virginia Economic Development Partnership Authority (VEDP) was established by the General
Assembly in 1995 (Code of Virginia, § 2.2-2234 et seq.)
▪ VEDP is given broad powers in its enabling legislation “…to encourage, stimulate and support the
development and expansion of the economy of the Commonwealth.”
▪ This FY24 Operational Plan has been prepared in accordance with Code of Virginia, § 2.2-2237.1 D.2.
and the Virginia Budget, which require that an Operational Plan be completed and submitted to the
Chairmen of the House Appropriations and Senate Finance and Appropriations Committees and to the
Director of the Department of Planning and Budget prior to July 1, 2023
▪ This FY24 Operational Plan is the annual business plan for implementing the Strategic Plan for
Economic Development of the Commonwealth of Virginia (FY21–FY25), approved by the VEDP
Board of Directors in late 2020, pursuant to the Code of Virginia, §2.2-2237.1
▪ FY24 will be the first year of implementation of the Innovative Framework for Economic Growth, which
will allow VEDP to fully realize the vision of the Strategic Plan; the Framework will accelerate
economic growth in Virginia through deepening sector expertise in three core sectors (Knowledge
work, Manufacturing, and Transportation / Logistics), focusing on ecosystem building around core
sectors, and collaborating across government and with partners to build ecosystems
▪ The 10 major initiatives contained in this FY24 Operational Plan are largely derived from the initiatives
outlined in the updated Strategic Plan as well as recent strategic planning efforts associated with the
Innovative Framework for Economic Growth
2
THE OPERATIONAL PLAN GUIDES VEDP’S ACTIONS THROUGHOUT
THE YEAR
This FY24 Operational Plan is based primarily upon the goals, strategies, and initiatives outlined
in the five-year Strategic Plan (FY21–FY25)
▪ The annual plan is the result of a VEDP-wide effort that identified improvement areas and new ideas
for the coming year and translated those ideas into a plan for action
▪ This year’s Operational Plan effort included the development of an Innovative Framework for
Economic Growth, which provides new tools to accomplish key elements of the Strategic Plan
The goals of this FY24 Operational Plan include:
▪ Implement the Innovative Framework for Economic Growth
▪ Build clarity and alignment regarding VEDP’s strategic direction
▪ Outline major priorities with deliverables and deadlines for the year
▪ Ensure improved accountability for performance
▪ Deliver upon functional improvement opportunities identified by VEDP team members
Progress against this Operational Plan* will be reviewed throughout the year through the
following activities:
▪ Regular updates at senior team meetings
▪ Regular internal meetings of each VEDP division (e.g., Business Investment, International Trade)
▪ Quarterly update meetings between each division head (e.g., Vice Presidents and Managing
Directors) and their respective reports
▪ Ongoing updates to the Operational Plan tracker
*The implementation timelines outlined in the Operational Plan are subject to adjustment based on VEDP project
activities and/or changes in priorities
3
VEDP ORGANIZATIONAL OVERVIEW (1 OF 2)
Division Overview
Economic Develops medium-to-long-term strategies to improve the foundations for state, regional, and local
Competitiveness economic growth
External Affairs Coordinates and manages legislative and budgetary initiatives and cultivates relationships with local,
state, and federal elected officials, as well as relationships with VEDP’s economic development
partners across the Commonwealth
Fiscal and Support Manages all accounting and budget-related work and provides facilities, fleet management, and
Services procurement services
Human Resources Manages employee lifecycle, talent management, talent acquisition, retention, performance
management, employee engagement, learning and development, benefits, and total rewards
Incentives Reviews, vets, tracks, and coordinates economic development incentives administered by VEDP and
those offered by the Commonwealth or a locality in conjunction with VEDP
Information Technology Plans, implements, provides security for, and supports VEDP's technology platforms
Internal Audit Performs periodic audits on operations, accounts, and transactions and reports findings to the VEDP
Board
International Trade Supports growth and expansion of Virginia’s local firms seeking international markets and optimizes
international supply chains through the administration of targeted programs to increase managerial
capabilities and improve networks in key countries and regions
Knowledge Sector Develops and implements strategies to promote employment growth within the Business Services,
Software and Cybersecurity, Financial Services, and Aerospace and Defense Innovation industries
Legal Services Advises on legal aspects of legislation, rules, and contracts; manages legal activities for VEDP; drafts
incentive agreements and NDAs; and responds to FOIA requests
Logistics Sector Develops and implements strategies to promote employment growth within the Transportation and
Logistics industries
4
VEDP ORGANIZATIONAL OVERVIEW (2 OF 2)
Division Overview
Manufacturing Sector Develops and implements strategies to promote employment growth within the Advanced Materials,
Food Processing & Manufacturing, and Biopharmaceuticals industries
Marketing and Manages Virginia’s business brand (and VEDP’s) and builds awareness of the Commonwealth’s
Communications advantages among C-level executives and site consultants nationally and globally
Project Management Coordinates projects and provides solutions for new and existing companies interested in relocating
to or expanding in Virginia
Real Estate Solutions Supports business attraction and expansion efforts by strategically developing a comprehensive
statewide portfolio of project-ready sites and buildings and engaging economic development projects
to address real estate needs
Regional Talent Supports growth and retention of Virginia companies through business outreach to foster
Solutions and Business relationships and understand challenges; collaborates with partners and promotes programs,
Outreach (RTSBO) services, and incentives to support companies' growth; engages in statewide and regional initiatives
to support talent development ecosystems
Research Creates customized, relevant, and insightful analysis and data visualizations that promote a common
understanding of Virginia’s full value proposition, with a central focus on fast-turn, high-priority,
tailored client service (e.g., RFP responses, site recommendations)
Strategic Projects and Focuses specialized expertise on high-profile engagements, ensuring coverage across other sector
Lead Generation opportunities, and leading cross-cutting lead generation activities
Talent Accelerator Supports the human capital needs of new and expanding businesses by delivering world-class,
customized workforce recruitment and training solutions in partnership with the Virginia Community
College System; collaborates with VOEE to assist with talent initiatives
Virginia Office of Provides a unified, consistent source of analysis for policy development and implementation related
Education Economics to talent development; offers resources and expertise related to education and labor
market alignment
5
VEDP WILL IMPLEMENT A NEW ORGANIZATIONAL STRUCTURE IN
FY24 TO DRIVE THE INNOVATIVE FRAMEWORK
President &
CEO
Chief of Staff
Executive VP
SVP,
General SVP, Virginia Executive SVP, SVP, Policy & Strategic
Knowledge Manufacturing Logistics VP, Project
Counsel, Talent Director, International Strategic Projects &
Sector Leader Sector Leader Sector Leader Management
Legal Accelerator VOEE Trade & CAO Partnerships Lead
Generation
VP, VP, Incentives
VP, External
Organizational Director, HR
Affairs
Development
VP, Reg. VP, Marketing
VP,
Talent & Comms.
Information
Solutions &
Technology
Bus. Outreach
VP, Econ. VP, Research
Controller Competitive-
ness
VP, Real
Estate
Solutions
6
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP BOARD OF
DIRECTORS – FY24
William “Bill” H. Hayter, Chair The Honorable Caren Merrick, Vice Chair
Retired President and CEO, First Bank & Trust Co. Secretary of Commerce and Trade, Commonwealth of Virginia,
Ex Officio Member
Nancy Howell Agee Carrie Hileman Chenery
Chair, GO Virginia, Ex Officio Member Principal, Valley Pike Partners
C. Daniel Clemente Mimi Rainero Coles
Chairman and Chief Executive Officer, Clemente Development Marketing and Business Development Vice President,
Company, Inc. Permatile Concrete Products Company
The Honorable Stephen Cummings Stephen A. Edwards
Secretary of Finance, Commonwealth of Virginia, CEO and Executive Director, The Port of Virginia,
Ex Officio Member Ex Officio Member
Richard “Rick” O. Harrell, III John Hewa
President (retired), R.O. Harrell Inc President and CEO
Rappahannock Electric Cooperative
April Kees Pace Lochte
Director, Virginia Senate Finance and Appropriations Committee, Assistant Vice President for Economic Development,
Ex Officio Member University of Virginia
Anne Oman Marianne Radcliff
Director, Virginia House of Delegates Appropriations Committee, President, Kemper Consulting, Inc.
Ex Officio Member
Nick Rush William D. Sessoms, Jr.
Agent, Krupin Partners LLC Executive Vice President, TowneBank
Steven David Stone
Equity Principal, Offit Kurman
7
OVERVIEW OF THE STRATEGIC PLAN FOR ECONOMIC
DEVELOPMENT OF THE COMMONWEALTH OF VIRGINIA (FY21–FY25)
▪ In late 2020, VEDP produced an updated Strategic Plan for Economic Development of the
Commonwealth (FY21–FY25) in accordance with § 2.2-2237.1 of the Code of Virginia
▪ As required by Code, the Strategic Plan identifies specific goals and objectives for VEDP, as well as
quantifiable metrics and performance measures for each goal and objective; the Plan also includes a
systematic assessment of how VEDP can best add value in carrying out each of its statutory powers
and duties
▪ Key economic development partners were integrally involved in the strategic planning process,
including state, regional, and local economic development agencies and organizations and
international trade organizations
▪ The Strategic Plan contains a set of 35 initiatives, including three initiatives developed in response to
the 2020 pandemic
▪ This FY24 Operational Plan is the annual business plan for implementing the Strategic Plan; the 10
major initiatives contained in the operational plan are derived from the initiatives outlined in the
Strategic Plan for FY21–FY25, as well as recent strategic planning efforts associated with the
Innovative Framework for Economic Growth
▪ The Strategic Plan, in accordance with the Code of Virginia, will be updated in FY24; VEDP will
leverage our existing Strategic Plan, the Innovative Framework for Economic Growth, other core
documents, and feedback from partners to develop the updated five-year plan
8
FRAMEWORK FOR IMPLEMENTING VEDP’S STRATEGIC PLAN
▪ Economic development is a combination of activities intended to create jobs, increase wages, and/or
achieve industry diversification
‒ VEDP will primarily focus on growing the Commonwealth’s economy and bringing the greatest
number of high-quality jobs to Virginia’s regions
‒ VEDP will typically avoid actively recommending incentives or investments in projects that grow
a region, community, or business at the expense of other regions, communities, or businesses
▪ VEDP will strive to make its incentive and investment recommendations based on public return-on-
investment (ROI) analyses
▪ Starting in FY24, VEDP will begin implementing the Innovative Framework for Economic Growth,
which requires aggressive, focused leadership from VEDP in three broad areas of activity:
‒ “Sector Depth” aims to create expertise in three core sectors (Knowledge work, Manufacturing,
and Transportation / Logistics)
‒ “Robust Ecosystems” aims to proactively implement strategies to promote employment growth
for those core sectors
‒ “Commonwealth Collaboration” aims to collaborate across government and with partners to
build ecosystems that will maximize the growth and development of core sectors
▪ Much of economic development’s ecosystem-building is done at the regional or local level (e.g., site
selection process, marketing leverage, business environment, economic relationships), so
strengthening our collaboration among partners will be key to the Innovative Framework’s success
9
ENHANCING VEDP’S AND OUR PARTNERS’ STRATEGIC CAPABILITIES:
AN INNOVATIVE FRAMEWORK FOR ECONOMIC GROWTH
Our Goal:
Deliver nation-leading economic performance by building an economic development
enterprise that positions Virginia as an unparalleled business location
Commonwealth
Sector Depth Robust Ecosystems
Collaboration
Developing deeper sector- Putting greater, coordinated
focus on strengthening Building a new “whole-of-
based focus, expertise, and
ecosystems that will generate government” approach aligned
alignment
greater project-based and with local / regional partners to
organic employment growth deliver impact in more direct,
holistic ways
Success looks like:
▪ Virginia is a leading state for employment growth in target sectors, generating nation-leading economic performance
▪ More people are moving to Virginia than moving away
▪ Overall project wins have increased, including an increase in transformational project wins
10
IMPLEMENTATION DETAILS OF THE STRATEGIC PLAN
▪ The current Strategic Plan for Economic Development of the Commonwealth of Virginia adopted by
the VEDP Board is a five-year plan (FY21–FY25), implementation of which began July 1, 2021
▪ The Strategic Plan includes five transformational goals, the achievement of which requires the
implementation of 14 strategies
▪ Some of the initiatives in the Strategic Plan will require new funding to implement
▪ VEDP’s FY24 Operational Plan is based on the initiatives outlined in the Strategic Plan as well as
recent strategic planning efforts associated with the Innovative Framework for Economic Growth
▪ VEDP is planning to update its strategic plan in FY24 in accordance with the Code of Virginia; new
initiatives will reflect the vision of VEDP’s Innovative Framework for Economic Growth
11
PARTNER ENGAGEMENT, THE INNOVATIVE FRAMEWORK, AND CORE
STRATEGIC EFFORTS WILL DRIVE THE STRATEGIC PLAN REFRESH
Innovative Framework & Core Strategic Efforts 2023 VEDP Strategic
Plan Update
The 2023 VEDP
Strategic Plan
update casts a
vision for how
recent VEDP
Innovative Framework Governor’s Econ. FY21-25 VEDP efforts will work
for Econ. Growth Development Policy Strategic Plan
together and
+
(2023) (2022) (2021)
Partner
Engagement how we will
engage with
partners across
Third-party Virginia to
expert analysis
realize the
impacts of these
plans.
VEDP Rural Think Third-party expert VEDP International
Tank + SWSS Study analysis (2023) Trade Plan
(2022) (2019 & 2023)
12
TRANSFORMATIONAL GOALS FOR THE COMMONWEALTH AND VEDP
Transformational Goal Description
1. Robust state job growth Position Virginia to achieve a growth rate (measured by employment
and median earned income of workers) among that of the top 5-10
states in the U.S.
2. Every region wins Ensure that every region participates in the growth of the
Commonwealth (i.e., all with positive growth in employment and
median earned income of workers)
3. Best state for business Restore Virginia to its previous leadership position near the top of the
national business climate rankings (i.e., average position among the
top 3-5 states)
4. Top state EDO Reestablish VEDP as one of America’s most effective state economic
development organizations (principally to better enable
accomplishment of the top three transformational goals)
5. Super collaborator Exhibit collaboration and coordination as hallmarks of VEDP (i.e., place
a central focus on the “P” in VEDP)
13
THE STRATEGIC PLAN IDENTIFIES 14 STRATEGIES TO BE
IMPLEMENTED OVER A 5- TO 7-YEAR PERIOD, SUBJECT TO FUNDING
Enhance VA's economic Cultivate target industry growth
competitiveness Enhance VEDP’s capabilities clusters
By improving Virginia’s “product” – its By improving VEDP’s abilities to develop By improving VEDP’s capabilities and
human and physical capital – Virginia will and execute economic development enhancing VA’s economic
continue to be the top state for business strategies and programs, Virginia will be competitiveness, Virginia will be better
and a top place to call home well-positioned to compete now, and in positioned to compete and win projects
the future in target clusters
Specific strategies:
Specific strategies:
Specific strategies:
1. Strengthen Virginia’s human capital
development engine 6. Cultivate world-class execution at
VEDP 10. Push new boundaries as a U.S.
2. Assemble an ample, strategic leader in information technology
portfolio of project-ready sites and 7. Implement robust
marketing/branding, lead 11. Assemble a world-class transportation
buildings across Virginia
generation, and site consultant and logistics hub
3. Rigorously assess and steadily cultivation programs
12. Position Virginia’s manufacturing base
improve Virginia’s state, regional,
8. Strengthen and expand business to be future-ready
and local economic
competitiveness and international trade
13. Create business services and
development programs
operations centers of excellence (e.g.,
4. Leverage public-private
9. Become a national leader in HQs)
partnerships to strengthen
Virginia’s digital infrastructure (i.e., incentives administration
14. Capitalize on Virginia’s unique assets
broadband) to become a leader in promising
disruptive technologies
5. Place a special focus on achieving
growth in Virginia’s rural regions
and small metros
14
PROGRESS HAS BEEN MADE ON ALL FIVE TRANSFORMATIONAL
GOALS, BUT MUCH WORK REMAINS TO FULLY ACHIEVE THEM
Transformational Goal Description Outlook
1. Robust state job growth Position Virginia to achieve a growth rate (measured by employment and
median earned income of workers) among that of the top 5-10 states in
the U.S.
2. Every region wins Ensure that every region participates in the growth of the Commonwealth
(i.e., all with positive growth in employment and median earned income of
workers)
3. Best state for business Restore Virginia to its previous leadership position near the top of the
national business climate rankings (i.e., average position among the top
3-5 states)
4. Top state EDO Reestablish VEDP as one of America’s most effective state economic
development organizations (principally to better enable accomplishment of
the top three transformational goals)
5. Super collaborator Exhibit collaboration and coordination as hallmarks of VEDP (i.e., place a
central focus on the “P” in VEDP)
• On track to achieve long-term goals with no major • Will likely not meet goal (typically due to lack of funding)
concerns
• Will make progress against long-term goals but • Not started
concerns (typically due to funding challenges)
15
TABLE OF CONTENTS
Introduction to and overview of the FY24 Operational Plan 2
Major Initiatives 17
Appendix: Performance Metrics 19
Appendix: FY24 Budget Summary 21
Appendix: Components of the FY24 Operational Plan Required by the Code of Virginia 25
16
PROPOSED FY24 OPERATIONAL PLAN MAJOR INITIATIVES
# Major initiative Owner (Support)
1 Implement cross-divisional Innovative Framework to deliver nation-leading economic performance Burkart (ELT)
2 Build specialized sector teams to engage market stakeholders and cultivate ecosystems Welch
3 Execute a whole-of-government approach to economic development aligned with local and Devan
regional partners
4 Update the Strategic Plan per Code of Virginia to reflect economic changes and new VEDP and Devan (Watkins)
stakeholder priorities
5 Expand real estate programs by leveraging site development funding and private sector Dreiling
collaboration
6 Enhance partner engagement strategies to align diverse stakeholders around a shared vision for Riley
the economy
7 Execute on VOEE’s priority deliverables including the supply-demand dashboard and the skills McKay
initiative
8 Continue to build out the best customized workforce recruitment and training incentive program in Grundmann
the U.S.
9 Update and execute the goals and initiatives of the International Trade Plan Agee (Devan)
10 Launch and implement priority components of the HR Talent Management strategy Agee (Cox, Boone)
17
TABLE OF CONTENTS
Introduction to and overview of the FY24 Operational Plan 2
Major Initiatives 17
Appendix: Performance Metrics 19
Appendix: FY24 Budget Summary 21
Appendix: Components of the FY24 Operational Plan Required by the Code of Virginia 25
18
PERFORMANCE METRICS AND GOALS FOR FY24
Metric FY24 Goal
VEDP-assisted project announcements
Capital investment ($B) $4.0
Direct jobs 13,000
Estimated total jobs* 28,200
VEDP International Trade programs
Companies enrolled 495
Projected international sales ($M) 900
Projected trade-supported jobs 8,000
*Estimated total direct, indirect, and induced jobs using multiplier of 2.172 based on historic project trends 19
TABLE OF CONTENTS
Introduction to and overview of the FY24 Operational Plan 2
Major Initiatives 17
Appendix: Performance Metrics 19
Appendix: FY24 Budget Summary 21
Appendix: Components of the FY24 Operational Plan Required by the Code of Virginia 25
20
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP FY2024 BUDGET
SUMMARY
Revenue Sources
FY2024 FY2023 Change
Revenue
COV General Fund Budgeted $ 52,855,577 $ 50,011,992 $ 2,843,585
Obligated Carry Forward Funds 16,908,266 14,329,666 2,578,600
Participation and Mission Fees 500,000 475,000 25,000
Other Revenue 1,000,000 348,100 651,900
Total Revenue $ 71,263,843 $ 65,164,758 $ 6,099,085
21
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP FY2024
BUDGET SUMMARY (CONT’D)
Budgeted Expenditure Summary
FY24 FY23 $ %
Dollars Staff Dollars Staff Change Change
Division Budgets
Talent Solutions (Note A) $ 19,698,482 49 $ 17,332,268 46 2,366,214 14%
International Trade 12,123,610 30 11,756,814 30 366,796 3%
BI and Sector Teams (Note B) 8,547,541 48 6,976,701 40 1,570,840 23%
Research 3,375,513 25 3,291,507 25 84,006 3%
Marketing & Communications 4,606,390 14 4,559,844 14 46,546 1%
Economic Competitiveness 1,106,251 9 1,075,198 9 31,053 3%
Real Estate Solutions 1,537,477 6 1,518,000 6 19,477 1%
Information Technology 1,239,553 9 1,210,227 9 29,326 2%
Incentives 1,187,018 8 1,158,969 8 28,049 2%
Administration 5,083,742 24 4,983,064 24 100,678 2%
Total Division Budgets $ 58,505,577 222 $ 53,862,592 211 4,642,985 9%
Pass Throughs, Grants and Projects 12,758,266 - 11,302,166 - 1,456,100 13%
Total VEDP Budget $ 71,263,843 222 $ 65,164,758 211 6,099,085 9%
22
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP FY2024 BUDGET
SUMMARY (CONT’D)
A. Talent Solutions FY24 budget includes $17,166,658 for the Talent Accelerator Program,
$1,675,646 for Regional Talent Solutions and Business Outreach, and $856,178 for
VOEE.
B. In FY24, Business Investment (BI) will evolve into separate divisions for Project
Management, and Strategic Projects and Lead Generation. Additionally, the FY24
budget reflects the addition of 15 staff for the Innovative Framework for Economic
Growth, funded partially with 7 current BI positions, for a net staff increase of 8.
23
TABLE OF CONTENTS
Introduction to and overview of the FY24 Operational Plan 2
Major Initiatives 17
Appendix: Performance Metrics 19
Appendix: FY24 Budget Summary 21
Appendix: Components of the FY24 Operational Plan Required by the Code of Virginia 25
24
COMPONENTS OF THIS FY24 OPERATIONAL PLAN REQUIRED BY THE
CODE OF VIRGINIA
This section of the FY24 Operational Plan contains the two components required by statute,
itemized below:
Virginia Code § 2.2-2237.1. Board of directors to develop strategic plan for economic
development; marketing plan; operational plan; submission
2. An operational plan for carrying out the powers and duties of the Authority. The operational plan of the
Authority shall, at a minimum, include:
a. A process to evaluate the Authority's effectiveness in exercising the powers and duties conferred by
this article, including the Authority's ability to work with other state, regional, and local economic
development organizations and international trade organizations; and
b. A strategy for coordinating with state agencies that administer economic development incentive
programs and relevant executive branch committees, councils, authorities, and commissions to
maximize the effectiveness of state economic development programs and activities.
25
VEDP WILL CONTINUE TO EVALUATE ITS EFFECTIVENESS IN
EXERCISING ITS POWERS AND DUTIES
VEDP’s approach to addressing this statutory requirement includes four components:
Requirement: 1. Assessment of how VEDP can best
add value relative to its statutory
A. Develop a process to powers and duties
evaluate the Authority's
effectiveness in exercising
the powers and duties
conferred by this article, 2. VEDP functional assessments
including the Authority's
ability to work with other
state, regional, and local 3. VEDP metrics and performance
economic development indicators
organizations and
international trade
organizations
4. Annual stakeholder survey regarding
VEDP’s effectiveness in working with
partners
26
VEDP DEVELOPED A STRATEGY FOR COORDINATING WITH KEY
STAKEHOLDERS
VEDP’s approach to addressing this statutory requirement includes two components:
Requirement:
B. Develop a strategy for 1. Approach for coordinating with local,
coordinating with state regional, and statewide economic
agencies that administer development partners
economic development
incentive programs and
relevant executive branch
committees, councils,
authorities, and
commissions to maximize 2. Strategy for coordinating with other
the effectiveness of state incentive-administering agencies
economic development
programs and activities
27
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