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McAuliffe statement on JLARC report on VEDP

Governor Terry McAuliffe, who is on the second day of a trade and marketing mission to the Pacific Rim, released a statement today following the General Assembly’s Joint Legislative Audit and Review Commission’s (JLARC) final report on the “Management and Accountability of the Virginia Economic Development Partnership”:

“I want thank Chairman Orrock, Vice-chairman Norment, and JLARC members and staff for their diligent work in reviewing and assessing the structure and performance of the Virginia Economic Development Partnership (VEDP).  As the report makes clear, we have a responsibility to strengthen the management and accountability structure at VEDP so that it can meet its full potential as a driver for economic growth.

“Growing and diversifying Virginia’s economy is my top priority as governor. Since I took office, I have seen both the positive impact VEDP has on Virginia’s economy and the unfulfilled potential within the organization that could be realized with improved management and strategic thinking. I am aware that the VEDP Board of Directors, which is responsible for the management and vision of the organization, has taken several steps to increase oversight and accountability leading up to this final report. The VEDP board is also in the process of hiring a new Chief Executive Officer, who I hope will bring a new culture of accountability and strategic oversight to the organization. These are good first steps; however, it is clear that much more needs to be done.

“To that end, it is my hope that we can work collaboratively with members of the General Assembly and other stakeholders to reform VEDP to ensure better management of taxpayer dollars and more accountability throughout the organization. I have instructed Secretary of Commerce and Trade Todd Haymore and other members of my administration to review the JLARC report and identify opportunities, either through legislative or executive action, to maximize the impact of Virginia’s economic development efforts.

“Again, I thank JLARC for this thorough report and I look forward to working with the General Assembly to implement recommendations and ensure that VEDP is the high performing and well-run economic driver for the Commonwealth that we all know it can be.”