VEDP is No. 2 in Top 10 state economic development organization ranking for 2014

economic-forecast-headerGovernor Terry McAuliffe announced Monday the Virginia Economic Development Partnership (VEDP) received the No. 2 spot in The American Economic Development Institute (AEDI) and Pollina Corporate Real Estate’s Top 10 State Economic Development Organizations ranking for 2014.

The ranking is based largely on data from Stage II of the AEDI/Pollina Corporate Top 10 Pro-Business States 2014 report released earlier this year. The report examines each state’s incentive programs and the marketing efforts of their economic development agencies. The authors of the study analyzed the resources devoted to the state agencies, their ability to respond to new company inquiries and existing company needs, and the functionality of their website. The purpose of the ranking is to put a spotlight on state economic organizations that are excelling at their job in a competitive global economy.

Speaking about Monday’s announcement, Governor McAuliffe said, “The Virginia Economic Development Partnership’s mission is to cultivate new business investment, foster international trade growth and encourage the expansion of existing business in the Commonwealth. VEDP’s recognition as the second best state economic development organization in the country is tremendous validation of their critical work. VEDP is a central component of my efforts to build a new Virginia economy, and I congratulate the team on setting the Commonwealth apart from our competition on a national and global scale. I look forward to continuing our progress so that next year we take the top spot in the nation.”

“I congratulate the Virginia Economic Development Partnership on a well-deserved award from a top U.S. corporate relocation firm,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “VEDP’s work marketing Virginia and helping to create jobs and capital investment in the Commonwealth is top-notch, and recognition from a third party is a great testament to their success. The Governor’s top priority is to face fiscal challenges proactively and bolster economic growth in the Commonwealth, and we look forward to continuing to partner with VEDP.”

Missouri took the No. 1 spot with a score of 112, followed by Virginia at 110. South Carolina, Nebraska, Kansas, Louisiana, Ohio, Alabama, Mississippi, and Utah rounded out the list for Top 10 State Economic Development Organizations.

“The national effort at economic development is failing. American companies, if they are to survive in a global economy, must be located in the most pro-business locations possible,” said Dr. Ronald R. Pollina, Chairman of the American Economic Development Institute and President of Park Ridge, Illinois-based Pollina Corporate Real Estate, Inc. “Leaders of economic development organizations throughout the country need to do a far better job of understanding that their primary objective to create new jobs and retain those already located in their state.”

The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 24-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Germany, Shanghai, Mexico, Japan, India and the United Kingdom.

According to VEDP President and CEO Martin Briley, “This ranking is a tremendous honor for all of us here at VEDP. It represents the hard work of our entire staff, our partners and our allies as we work together to augment the economic vitality of the Commonwealth and tell the Virginia story on the global stage.”

AEDI is a nonpartisan public policy and economics research institution whose mission is to improve the American economy by fostering economic growth and prosperity through employment creation and international trade. AEDI also seeks to improve federal, state and local economic development planning in the United States.

Through research, training, conferences, demonstration projects, publications and multimedia, AEDI provides the highest quality, nonpartisan analysis and evaluation for federal, state and local economic development planning and policy decisions. Dr. Pollina may be reached at 1.847.685.9000 x 225 orrrp@pollina.com.

The press release and Part II of Dr. Pollina’s series about economic development organizations can be found at http://aedi.us/truth-in-democracy/.



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