Life at VEDP is busy. That’s a good thing when your business is making positive changes happen for the Commonwealth of Virginia.
Three-fourths of the way through the fiscal year, our performance dashboard indicates we will most likely exceed the goals for new jobs and investment established by our Board of Directors. It was a good time, then, for our president and CEO, Martin Briley, to pursue new challenges as he left us on March 31. We are keeping the momentum going strong and, at the same time, taking stock to make sure we stay a step ahead of the competition.
As Virginia’s General Assembly returns to Richmond, it is important that we remind the legislature of the value and return on investment that Virginia’s economic development community provides to our great Commonwealth.In partnership with our allies at the local and regional levels, the Virginia Economic Development Partnership successfully assisted 383 projects during fiscal years 2014 and 2015. These projects announced $8.11 billion in new capital investment and 33,710 new jobs. They will generate a steady revenue source across the Commonwealth, increasing Virginia’s ability to fund the important needs of our citizens. Combined 10-year state and local new revenue projections from these 383 projects are more than $2.8 billion.
Thank you for helping the Virginia Economic Development Partnership achieve strong results for FY2015. These results include 201 VEDP-assisted projects announcing intent to hire 18,756 new workers and invest $2.9 billion in the Commonwealth of Virginia. Thanks to the dedication of our team and our partners and allies across the Commonwealth, VEDP exceeded its FY15 job creation goal by 44 percent.