RD179 - Virginia Economic Development Partnership FY 2017-2018 Operational Plan

Executive Summary:

*Written version of the Executive Summary was posted to the Reports to the General Assembly Web Portal on December 21, 2017.

• The Virginia Economic Development Partnership Authority (VEDP) was established by the General Assembly in 1995 (Code of Virginia, § 2.2-2234).

• 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 operational plan has been prepared in accordance with the 2017 Virginia Acts of Assembly, Chapter 780, which requires that an operational plan be completed and submitted to the Chairmen of the House Appropriations and Senate Finance Committees and to the Director of the Department of Planning and Budget prior to July 1, 2017.

• VEDP is in the process of developing a five-year strategic plan, in accordance with legislation passed in the 2017 General Assembly session. This strategic plan will be presented to the VEDP Board in November.