VMA Calls on General Assembly to Expedite Formation of VA International Trade Corporation

 

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VMA Calls on General Assembly to Expedite Formation of VA International Trade Corporation

-JLARC Audit Validates Split from VEDP-

 

RICHMOND, VA – Yesterday the VA Joint Legislative Audit and Review Commission (JLARC) issued its much anticipated “Management and Accountability of the Virginia Economic Development Partnership (VEDP)” report as required by Delegate Kathy Byron’s House Joint Resolution 7 this past session.  The hypercritical report makes 35 recommendations ranging from creating a new oversight Board of Economic Development to withholding future VEDP appropriations until certain performance and accountability transparency recommendations are implemented.  The Richmond Times-Dispatch reported that “Legislators today called the watchdog agency’s report ‘damning’ and ‘devastating’.”  The report also found that export promotion programs were viewed positively by stakeholders and well managed.

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