The 2011 Executive Budget Document
Virginia Economic Development Partnership
[
http://www.yesvirginia.org/
]
Mission Statement
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 | |
|---|---|---|---|
| 2007 Appropriation | $ 18,562,701 | $ 0 | $ 0 |
| 2008 Appropriation | $ 16,962,701 | $ 0 | $ 0 |
| 2009 Appropriation | $ 16,076,010 | $ 0 | $ 0 |
| 2010 Appropriation | $ 15,006,151 | $ 0 | $ 0 |
| 2011 Base Budget | $ 19,944,647 | $ 0 | $ 0 |
| 2011 Addenda | $ 0 | $ 0 | $ 0 |
| 2011 Total | $ 19,944,647 | $ 0 | $ 0 |
| 2012 Base Budget | $ 19,415,259 | $ 0 | $ 0 |
| 2012 Addenda | $ 763,549 | $ 0 | $ 0 |
| 2012 Total | $ 20,178,808 | $ 0 | $ 0 |
| General Fund | Nongeneral Fund | Total Positions | |
|---|---|---|---|
| 2007 Appropriation | 0.00 | 0.00 | 0.00 |
| 2008 Appropriation | 0.00 | 0.00 | 0.00 |
| 2009 Appropriation | 0.00 | 0.00 | 0.00 |
| 2010 Appropriation | 0.00 | 0.00 | 0.00 |
| 2011 Base Budget | 0.00 | 0.00 | 0.00 |
| 2011 Addenda | 0.00 | 0.00 | 0.00 |
| 2011 Total | 0.00 | 0.00 | 0.00 |
| 2012 Base Budget | 0.00 | 0.00 | 0.00 |
| 2012 Addenda | 0.00 | 0.00 | 0.00 |
| 2012 Total | 0.00 | 0.00 | 0.00 |
Recommended Operating Budget Addenda
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Capture the Virginia Economic Development Partnership's turnover and vacancy savingsCaptures savings by maintaining vacant positions.
FY 2011 FY 2012 General Fund $ 0 $ (80,477)
-
Improve economic development efforts through regional collaborationProvides funding for targeted incentives that encourage local economic development offices to cooperate within regions. By collaborating, duplication of services is eliminated, cost for services is shared and messages in the marketplace have a larger voice. This is a recommendation of the Governor's Commission on Economic Development and Job Creation.
FY 2011 FY 2012 General Fund $ 0 $ 400,000
-
Increase pass-through funding to the Virginia Commercial Space Flight AuthorityRestores operating funds for the Virginia Commercial Space Flight Authority in FY 2012. The general fund support represents approximately 70 percent of the authority's anticipated operating expenses.
FY 2011 FY 2012 General Fund $ 0 $ 379,095
-
Reduce funding for the Virginia Economic Development Partnership's administration and information technology systemsReduces funding for information technology hardware and annual space maintenance.
FY 2011 FY 2012 General Fund $ 0 $ (25,000)
-
Reduce funding for the Virginia National Defense Industrial AuthorityReduces funding for the Virginia National Defense Industrial Authority by two percent.
FY 2011 FY 2012 General Fund $ 0 $ (8,066)
-
Reduce the Virginia Economic Development Partnership's funding for the Virginia Biotechnology Wet-Laboratory ProgramReduces funding for the Virginia Biotechnology Wet-Laboratory Program in FY 2012.
FY 2011 FY 2012 General Fund $ 0 $ (600,000)
-
Restore marketing fundsRestores a portion of the budget reductions enacted during the 2010 General Assembly Session. The restoration will allow the Partnership to maintain current marketing activity levels.
FY 2011 FY 2012 General Fund $ 0 $ 697,997