The Executive Vice President Role at the Virginia Economic Development Partnership (VEDP) in Richmond entails a pivotal leadership position within one of the nation’s premier state-level economic development organizations. Responsible for advancing VEDP’s strategic initiatives under the guidance of the President and CEO, the Executive Vice President will oversee various core functions, including Sector Teams and Business Investment, to drive economic growth and diversification across Virginia. With a rich history spanning nearly three decades and a global footprint that includes offices in Germany, Japan, Taiwan, and South Korea, VEDP dedicates itself to enhancing the state’s economic landscape. The ideal candidate will possess over 15 years of professional experience, coupled with strong leadership and management capabilities, to effectively promote Virginia as the best state for business and talent. This full-time position offers a competitive salary and requires thorough vetting, including a background check and references ahead of the closing date on August 7, 2024. Are you aspiring to take on a leadership role that can significantly shape economic development and policy? If so, the position of Executive Vice President at the Virginia Economic Development Partnership (VEDP) in Richmond might just be the career-defining opportunity you’ve been looking for.
Executive Vice President Role at Virginia Economic Development Partnership in Richmond
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Overview of Virginia Economic Development Partnership (VEDP)
History
For nearly three decades, the Virginia Economic Development Partnership (VEDP) has served as Virginia’s premier state economic development authority. Since its inception, VEDP has diligently worked to bolster the state’s economy by attracting new businesses, encouraging expansion within existing companies, and fostering trade development.
Reputation
VEDP enjoys a formidable reputation and is consistently ranked among the best state-level economic development organizations in the U.S. Its comprehensive, well-structured approach has earned it accolades and made it a model for economic growth and business development.
Mission
VEDP’s mission centers on pushing Virginia’s economic expansion and diversification. This is achieved through strategic marketing, lead generation, business retention and attraction initiatives, as well as trade development. The partnership aims to make Virginia a thriving business hub.
Staff
With over 200 dedicated employees, VEDP boasts a robust team of professionals committed to driving economic development. This diverse workforce carries a range of expertise necessary to reach VEDP’s expansive goals.
Budget
VEDP operates with an annual budget exceeding $50 million, which it judiciously allocates towards various economic development programs and initiatives. This substantial budget underpins its operations and allows it to execute large-scale projects effectively.
Global Presence
To complement its efforts within Virginia, VEDP also maintains offices internationally – in Germany, Japan, Taiwan, and South Korea. This global presence enables VEDP to foster international business relationships and attract foreign investments.
VEDP Goals
Robust State Growth
One of VEDP’s primary objectives is to ensure statewide economic growth. This goal calls for a holistic approach, encompassing urban and rural development, leveraging Virginia’s resources and strategic location to maximize economic potential.
Every Region Wins
VEDP strives to ensure that economic benefits extend to every region of Virginia. Whether a community is densely populated or sparsely inhabited, VEDP endeavors to bring opportunities for job creation, business growth, and enhanced living standards.
Best State for Business
Through continuous improvement in business-friendly policies and incentives, VEDP aims to position Virginia as the best state for business. This includes reducing regulatory barriers, offering competitive incentives, and fostering a supportive business environment.
Top State for Talent
Developing and retaining talent is another crucial goal. VEDP works hand-in-hand with educational and training institutions to ensure that Virginia remains a top state for acquiring and nurturing talent.
Most Innovative, Collaborative, and Effective State EDO
VEDP aspires to be the most innovative, collaborative, and effective economic development organization. This is reflected in its strategies, partnerships, and overall approach to economic development, ensuring that the organization remains at the forefront of economic development practices.
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Position Overview
Role
As the Executive Vice President, you will play a critical role in shaping and implementing VEDP’s strategic goals. Your leadership will be pivotal in crafting business development strategies aimed at fostering economic growth across the state.
Reports to
The Executive Vice President reports directly to VEDP’s President and CEO. This reporting structure positions you at the helm of strategic decision-making, working collaboratively with the CEO to align VEDP’s initiatives with its overarching mission.
Key Responsibilities
In this role, your primary responsibilities will include:
- Leading the development and execution of business development strategies.
- Overseeing six core functional areas: Sector Teams, Strategic Projects and Lead Generation, Business Investment, Research, Incentives, Marketing, and Communications.
- Collaborating with state, regional, and local partners to ensure seamless project execution and alignment with VEDP’s goals.
Core Values
One VEDP
This core value emphasizes collaborative teamwork, ensuring that every member of the organization contributes towards common goals. Cross-functional collaboration is essential to VEDP’s success.
Distinctive Insight
VEDP places high importance on leveraging deep expertise and diverse perspectives. This value supports the organization’s aim to ensure that policies and strategies are well-informed and inclusive.
Authentic Partnerships
Integrity and respect are the cornerstones of VEDP’s partnerships. Building genuine relationships with stakeholders is crucial in fostering a conducive environment for economic development.
Growth Mindset
Continuous improvement and innovation are at the heart of VEDP’s operations. This growth mindset drives the organization to evolve, adapt, and improve in pursuit of its goals.
Results Focus
VEDP operates with a results-driven approach. This value underlines the organization’s commitment to achieving its objectives with determination and an inquisitive spirit.
Experience and Qualifications
Required Experience
Candidates should possess a minimum of 15 years of professional experience, with at least 10 years in progressive leadership roles. This extensive experience ensures readiness to take on a strategic position that impacts statewide economic policies and initiatives.
Desired Skills
The ideal candidate will bring a suite of skills spanning strong leadership, effective management, strategic planning, and exceptional communication. Adaptability and talent promotion are also highly desired, reflecting the dynamic and multifaceted nature of the role.
Education
A bachelor’s degree is required, with a preference for advanced degrees such as an MBA or MPA. This educational foundation supports the analytical and strategic demands of the position.
Compensation
VEDP offers a competitive salary that is commensurate with experience. The compensation package aligns with the seniority and responsibilities of the executive role, ensuring it attracts top-tier talent.
Additional Requirements
Candidates must undergo a background check, provide references, and submit a Statement of Economic Interest. Authorization to work in the U.S. is also a prerequisite for this role.
Application Process
Action
Interested candidates should apply through the VEDP website, submitting a resume and a cover letter detailing their suitability for the role.
Deadline
Applications are accepted until the position is filled, however, candidates are encouraged to apply as early as possible to ensure consideration.
Contact
For further inquiries and information regarding the application process, candidates may contact VEDP Human Resources at 1-804-545-5634 or via email at vedphr@VEDP.org.
