Virginia looks to reboot its economic development efforts after critical review
Stephen Moret
Stephen Moret   who took over as VEDP president and CEO in January  said the partnership is in the process of carrying out 27 recommendations in the audit report that are under the VEDPâs control. And  Moret  offers a spirited defense of any accusation that the VEDP is engaged in corporate welfare by providing companies with financial incentives to locate or expand in the commonwealth.
âFirst of all  itâs important to understand that Virginia is one of the smallest incentive states in America â  Moret  told Watchdog.org  adding that the state gives our relatively small incentive packages to businesses.
In the future  the VEDP will be a lot less focused on incentives as an economic development tool  according to  Moret . Instead  the partnership will be looking more to improve workforce development  expand broadband access and generally make the state a more attractive place for investment  he said.
Virginia already has the built-in advantages of having public schools and institutions of higher education that are among the best in the nation  along with one of the best overall business climates   Moret  said.
Current changes at the VEDP are about two key issues  one of which is to address all the shortcomings mentioned in the legislative audit   he  said. The second is more broad-based.
âIf you think about Virginia  this is one of Americaâs premier states  so we want to create a state economic development organization that is equal to the aspirations that we have for Virginia  â Moret  said.
The VEDP will report back to the General Assembly before the end of the year  and he expects to be able to say that the clear majority of the recommendations will have been fulfilled. A timeline for whatever changes remain will also be laid out   Moret  said.
âIt will remain as a very important division of VEDP â  Moret  said.
Another key area for the VEDP will be to work closely with community colleges and technical schools to create customized worker-training programs for in-demand jobs   Moret  said  adding that companiesâ site selections often hinge on having a skilled local workforce.
âWeâre not currently a leader in state workforce development programs â  he  said.
[TGT]    who took over as VEDP president and CEO in January  said the partnership is in the process of carrying out 27 recommendations in the audit report that are under the VEDPâs control. And  Moret  offers a spirited defense of any accusation that the VEDP is engaged in corporate welfare by providing companies with financial incentives to locate or expand in the commonwealth.
âFirst of all  itâs important to understand that Virginia is one of the smallest incentive states in America â  Moret  told Watchdog.org  adding that the state gives our relatively small incentive packages to businesses.
In the future  the VEDP will be a lot less focused on incentives as an economic development tool  according to  Moret . Instead  the partnership will be looking more to improve workforce development  expand broadband access and generally make the state a more attractive place for investment  he said.
Virginia already has the built-in advantages of having public schools and institutions of higher education that are among the best in the nation  along with one of the best overall business climates   Moret  said.
Current changes at the VEDP are about two key issues  one of which is to address all the shortcomings mentioned in the legislative audit   he  said. The second is more broad-based.
âIf you think about Virginia  this is one of Americaâs premier states  so we want to create a state economic development organization that is equal to the aspirations that we have for Virginia  â Moret  said.
The VEDP will report back to the General Assembly before the end of the year  and he expects to be able to say that the clear majority of the recommendations will have been fulfilled. A timeline for whatever changes remain will also be laid out   Moret  said.
âIt will remain as a very important division of VEDP â  Moret  said.
Another key area for the VEDP will be to work closely with community colleges and technical schools to create customized worker-training programs for in-demand jobs   Moret  said  adding that companiesâ site selections often hinge on having a skilled local workforce.
âWeâre not currently a leader in state workforce development programs â  he  said.