RD167 - Virginia Economic Development Partnership Annual Report Fiscal Year 2019

Executive Summary:

The FY 2019 Annual Report of the Virginia Economic Development Partnership Authority (VEDP) is submitted pursuant to

• § 2.2-2237.1 B and D of the Code of Virginia, which direct VEDP to report annually on its strategic, operational, and marketing plans; any modifications to the plans; and its progress toward meeting the goals and objectives stated in the plans; and

• § 2.2-2238 B, which requires VEDP to prepare and report on a plan to market high unemployment areas of the state; and

• § 2.2-2242, which directs the Authority to submit an annual report containing financial statements for the year ending June 30, 2019 (FY 2019) as audited by the Auditor of Public Accounts;

To offer context, this Annual Report also includes an overview of the Partnership, its governance structure, and its performance. Additionally, the scope of this year’s report has been expanded to encompass the annual status update on the Partnership’s progress in implementing the various plans that guide its activities, which was reported as a separate document for FY18. This addition reflects statutory requirements adopted in 2017 (§ 2.2-2237.1), which require VEDP to publish a Strategic Plan, Marketing Plan, and Operational Plan along with annual progress reports. Combining many of the Partnership’s annual reporting requirements into one document should make it easier for stakeholders to find salient information, and also to see how all of VEDP’s strategies, plans, and initiatives fit together to grow the Commonwealth’s economy for all Virginians.