About the Agency

The Virginia Economic Development Partnership (VEDP) was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support development and expansion of the Commonwealth’s economy. To accomplish these objectives, the Partnership focuses on business recruitment, expansion, and international trade. VEDP has offices in Virginia, Germany, Japan, and South Korea.

By statute, VEDP creates economic opportunity for the Commonwealth through eight core categories of responsibility:

• Ensure that effective marketing programs are delivered
• Engage in business development activities
• Engage in product development activities
• Encourage coordination of economic development organizations
• Encourage exports of Virginia’s products and services
• Assist in formulating Virginia’s economic development strategies
• Administer economic development incentive programs
• Fulfill administrative and reporting responsibilities

With dedicated and knowledgeable professionals committed to Virginia’s economic success, VEDP helps businesses find the resources they need to make relocation and expansion successful endeavors.

VEDP is governed by a 17-member Board of Directors. The Board selects the President and Chief Executive Officer and ensures that VEDP complies with all Board and statutory directives. The Board works with VEDP’s staff to develop, implement, and update strategic and marketing plans for the Commonwealth and an operational plan for VEDP.