Governor working to develop ‘New Virginia Economy Strategic Plan’

September 4, 2014

StrategicPlan

On August 26, Governor Terry McAuliffe signed Executive Order 26 establishing The New Virginia Economy Strategic Plan and Steering Committee. The executive order establishes the priorities that will form the foundation of the Governor’s economic development plan for the remainder of his term in office. The Steering Committee is tasked with creating a four-year strategic plan for economic development, in collaboration with the business community, local and state officials and economic development professionals.

The press release announcing the executive order emphasized the many ingredients that make Virginia a preeminent state for business and job growth. At the same time the release acknowledges the impact of recent federal budget cuts, reductions in defense spending and the impact of sequestration on Virginia. The Steering Committee is tasked with creating a four-year strategic plan for economic development, in collaboration with the business community, local and state officials and economic development professionals.

The four-year strategic plan will focus on: 1) enhancing infrastructure, 2) diversifying and growing strategic industry sectors, 3) solidifying and promoting a competitive business climate, 4) nurturing a sustainable entrepreneurial environment, and 5) equipping Virginia’s workforce with in-demand skill sets to meet current and future business needs. The plan will also recommend specific executive and legislative actions to achieve these goals.

The Secretary of Commerce and Trade will chair the Steering Committee. The Steering Committee will be composed of the Secretaries of Agriculture and Forestry, Finance and Veterans and Defense Affairs, as well as the Secretaries of Administration, Education, Health and Human Resources, Natural Resources, Technology and Transportation. The Steering Committee will engage representatives of relevant state agencies, local and regional economic development organizations and chambers of commerce, leaders in sectors significant to Virginia’s economy and other organizations or individuals as designated by the Governor.

The Secretary of Commerce and Trade will ensure coordination between the development of the New Virginia Economy Strategic Plan and the Workforce Initiative.

VACo Contact: Erik Johnston

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