III LEADERSHIP MESSAGE

Leadership Message

We began FY21 following one of the most productive time periods for VEDP since its formation a quarter century ago.

The ongoing global pandemic and its economic consequences created a new set of challenges and opportunities for VEDP and our partners across the Commonwealth.

We are working collaboratively to position Virginia for a healthy economic recovery, focused on economic development initiatives that will accelerate Virginia’s return to pre-COVID-19 employment levels as well as drive robust state job and wage growth over the next several years under an updated strategic plan that considers the impacts of the pandemic.

Despite the many challenges associated with COVID-19, VEDP completed substantially all of the big goals we set for FY21, including exceeding our goals for VEDP-assisted job creation and capital investment. We also made progress on many major initiatives that will drive a healthy economic recovery for Virginia.

This annual report highlights some of VEDP’s notable accomplishments in FY21, all of which were made possible in large part by the great work and support of our local, regional, and state partners, including Governor Northam, Secretary of Commerce and Trade Brian Ball, Former Secretary of Finance Aubrey Layne, Secretary of Agriculture and Forestry Bettina Ring, the Virginia General Assembly, members and staff of the Major Employment and Investment (MEI) Commission, The Port of Virginia, the Virginia Chamber of Commerce, the Virginia Economic Developers Association (VEDA), county and city government leaders, and hundreds of state, local, and regional economic development partners, among others.

Through a combination of leadership, dedicated staff work, and active support from our partners, VEDP and Virginia have made substantial progress toward achieving each of our five transformational goals (see page 67). Indeed, we are farther along than any of us could have imagined when we completed our five-year Strategic Plan in FY18. Nevertheless, there is much left to do.

Over the next few years, VEDP’s mission will be more important than ever as Virginia works to fully recover from the pandemic.

Thank you for your interest in VEDP, as well as your support of economic development in the Commonwealth of Virginia. Together we are positioning Virginia for a healthy economic future.

NED W. MASSEE Board Chair FY20-21 DAN M. PLEASANT Board Chair FY22 STEPHEN MORET President and CEO