Commonwealth of Virginia - Boards & Commissions - Virginia Economic Development Partnership

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Virginia Economic Development Partnership

Commerce and Trade

Purpose

The purpose of the Virginia Economic Development Partnership Authority shall be to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth by carrying out the duties and responsibilities outlined in this chapter. The authority will report annually to the Governor on the status of the implementation of the comprehensive economic development strategy, and recommend legislative and executive actions related to the implementation of the comprehensive economic development strategy.

Term

Four years; no more than two successive full terms

Composition

The Authority shall be governed by a board of directors (the Board) consisting of the Secretary of Commerce and Trade, the Secretary of Finance, the Chairman of the Virginia Growth and Opportunity Board, the Executive Director of the Virginia Port Authority, and the Staff Directors of the House Committee on Appropriations and the Senate Committee on Finance, serving as ex officio, voting members, and 11 members to be appointed as follows: seven non legislative citizen members appointed by the Governor; and four non legislative citizen members appointed by the Joint Rules Committee. Each of the non legislative citizen members appointed by the Governor and the Joint Rules Committee shall possess expertise in at least one of the following areas: marketing; international commerce; finance or grant administration; state, regional, or local economic development; measuring the effectiveness of incentive programs; law; information technology; transportation; workforce development; manufacturing; biotechnology; cyber security; defense; energy; or any other industry identified in the comprehensive economic development policy developed pursuant to § 2.2-205. Each of the nine regions defined by the Virginia Growth and Opportunity Board pursuant to subdivision 1 of § 2.2- 2486 shall be represented by at least one member of the Board. In determining such geographical representation, ex officio members of the Board may be considered to represent the region in which they serve in their official capacity.