VEDP has proudly embraced the following values to expand and diversify Virginia's economy.
Working together as a collaborative, supportive team
Cultivating deep expertise and diverse perspectives
Building strong partnerships based on integrity, authenticity, and respect
Embracing continuous improvement with humility and boldness
Competing with the grit to win and the curiosity to learn from our results
Working closely with partners, VEDP has adopted five transformational goals for Virginia and VEDP for FY25–29 that reflect stakeholder input, incorporate elements of the Innovative Framework, and represent the central focus of its work.
Robust State Growth
Position Virginia to achieve a growth rate among that of the top 10 states in the U.S.
VEDP proudly connects Virginia to the world and recently received the 2024 President's “E Star” Award from the U.S. Department of Commerce, the highest honor U.S. exporters and export service providers can receive from the federal government, for the second time.
More from VEDP's International Trade Team
504
Companies participated in VEDP International Trade programs and services in FY24
$1.5B
Total international sales attributed to VEDP International Trade programs in FY24
13,123
Jobs supported by VEDP’s trade programs in FY24
U.S. Deputy Under Secretary of Commerce for International Trade Diane Farrell (left) presented the 2024 President's "E Star" Award to VEDP Vice President of International Trade Lindsey Bertozzi (center) and President & CEO Jason El Koubi in May 2024.
VEDP has demonstrated a sustained commitment to export expansion through development of new and innovative education programs to assist Virginia exporters and through the organization's measurable growth of client companies in 2023.
Gina Raimondo
U.S. Secretary of Commerce
VEDP plays a critical role in growing the Commonwealth’s economy and building a place where all residents can thrive.
VEDP continues to see bipartisan support and investment from administration partners and the General Assembly for its economic development efforts. Learn more about how VEDP uses these investments to make Virginia more competitive.
Virginia Beach
The Virginia Economic Development Partnership created three new sector teams to prioritize lead generation and ecosystem building in the sectors with the most predicted growth in the coming years. These sectors include knowledge work, manufacturing, and logistics.
Overall Run Falls, Warren County
In FY24, the Virginia Office of Education Economics (VOEE) launched five dashboards specifically tracking education and workforce alignment in the Commonwealth. These dashboards provide insights, such as the highest demand jobs, that help the VOEE to provide information and analysis on linkages between education and employment outcomes.
Goodies Frozen Custard & Treats, Alexandria
Site readiness has been the deciding factor for major recent Virginia wins and the Virginia Business Ready Sites Program (VBRSP) is building on this process partnering with localities, utilities, and state agencies to assemble permits and approvals to make way for a smooth construction process. VEDP worked with the General Assembly and the Governor’s administration to establish the new Virginia Business Ready Expedited Permitting Program to establish the permitting process for transformational economic development projects in Virginia.
Bear Rock, Scott County
Virginia’s Economic Gardening program, implemented in collaboration with the National Center for Economic Gardening, provides qualifying second-stage companies with custom resources to identify and resolve distinct growth challenges that traditional business assistance and incentives do not address.
Deloitte, Arlington County
As part of Virginia’s proactive AI efforts, VEDP produced a report with insights from leading AI researchers, economists, and private-sector companies on Virginia’s competitive position with respect to generative AI, workforce implications, and recommendations on how Virginia can capture economic growth driven by rapidly evolving Gen AI technology.
The research indicated that Virginia is in a strong position to capture growth from AI, but proactive policies should be pursued to prepare the workforce and position the Commonwealth as a leader in Gen AI innovation.
Since the beginning of 2018, VEDP-assisted project wins have brought more than $100 billion in capital investment into the Commonwealth. Two-thirds of those projects have been expansions of existing facilities, indicating the long-term value a Virginia location and VEDP assistance brings to companies.
620+
Project wins
~103,000
New jobs
$103B+
In CapEx
The effects of economic development can span decades, even generations. Here are some examples of companies who have taken major strides this year to impact Virginia’s economy.
Roanoke
We're one of the largest private employers in the Roanoke region, and we are pleased to be able to make these investments in this space ... all supported through significant upgrades in technology throughout the building.
John W. Delaney
Head of Consumer Operations, Wells Fargo & Company
With the support of the administration, the General Assembly, and hundreds of partners, substantial progress has been made in implementing many of the initiatives detailed in the Strategic Plan.
