The 2012 Executive Budget Document
Virginia Economic Development Partnership [ http://www.yesvirginia.org/ ]Mission Statement
The Virginia Economic Development Partnership's (VEDP) mission is to enhance the quality of life and raise the standard of living for all Virginians, in collaboration with Virginia communities through aggressive business recruitment, expansion assistance, and trade development, thereby building the tax base and creating higher income employment opportunities.Operating Budget Summary
|General Fund||Nongeneral Fund||Personnel Cost|
|2009 Appropriation||$ 16,076,010||$ 0||$ 0|
|2010 Appropriation||$ 15,006,151||$ 0||$ 0|
|2011 Appropriation||$ 18,444,647||$ 0||$ 0|
|2012 Appropriation||$ 18,699,713||$ 0||$ 0|
|2013 Base Budget||$ 18,699,713||$ 0||$ 0|
|2013 Addenda||$ 778,387||$ 0||$ 0|
|2013 Total||$ 19,478,100||$ 0||$ 0|
|2014 Base Budget||$ 18,699,713||$ 0||$ 0|
|2014 Addenda||$ (721,613)||$ 0||$ 0|
|2014 Total||$ 17,978,100||$ 0||$ 0|
|General Fund||Nongeneral Fund||Total Positions|
|2013 Base Budget||0.00||0.00||0.00|
|2014 Base Budget||0.00||0.00||0.00|
Recommended Operating Budget Addenda
Provide additional funding for an expanded international marketing campaignProvides additional funding to augment the agency's presence in Europe, Japan, China, and India. Internationally, the funds will support several opportunities to pitch Virginia as a location to which to expand operations. Domestically, the funds will support a sustained marketing campaign to subsidiaries of internationally-headquarted companies.
FY 2013 FY 2014 General Fund $ 1,000,000 $ 0
Reduce discretionary expensesReduces funding for non-core mission activities.
FY 2013 FY 2014 General Fund $ (218,848) $ (218,848)
Reduce funding for the Brownfields Restoration and Economic Development FundReduces funding for the Brownfields Restoration and Economic Development Fund, which provides grants to address environmental problems or obstacles to reusing brownfield sites and promotes their restoration and redevelopment.
FY 2013 FY 2014 General Fund $ (371,366) $ (371,366)
Transfer funding for the regional collaboration programTransfers general fund dollars for the Building Collaborative Communities program from the Virginia Economic Development Partnership, as the Department of Housing and Community Development is managing and administering the program.
FY 2013 FY 2014 General Fund $ (200,000) $ (200,000)
Distribute Central Appropriation amounts to agency budgetsAdjusts the agency budget to reflect amounts moved to or from Central Appropriations to cover the costs of items such as changes in retirement and other benefit contribution rates, as well as the distribution of other centrally funded items.
FY 2013 FY 2014 General Fund $ 68,601 $ 68,601
Implement regional marketing initiativesProvides funds for the Virginia Economic Development Partnership to expand a pilot program in which staff work with regional economic development organizations, private sector entities, higher education, and other partners to develop region-specific economic development plans or strategies.
FY 2013 FY 2014 General Fund $ 500,000 $ 0