The Virginia Economic Development Partnership (VEDP) is the Commonwealth of Virginia’s state economic development authority, created by the General Assembly in 1995 to encourage, stimulate, and support expansion and diversification of Virginia’s economy. VEDP leads business recruitment, retention and expansion, international trade promotion, site and infrastructure readiness, incentive administration, marketing and talent-related initiatives on behalf of the state and its regional/local partners.
Economic development and business attraction incentives; site development and infrastructure programs; workforce and talent development partnerships; export and international trade promotion; marketing and lead-generation for state business climate and site selection.
Primarily funded by state general fund appropriations and legislatively authorized incentive accounts, supplemented by program revenues, grants, and discretionary grant awards administered on behalf of the Commonwealth.
Governor's Office and Virginia Secretary of Commerce and Trade; Virginia Chamber of Commerce; regional and local economic development authorities across Virginia; VEDP Board of Directors (state-appointed) and senior leadership (e.g., the VEDP president/CEO).
State economic development authority / public agency
