Bill Text: VA HB960 | 2019 | Regular Session | Prefiled


Bill Title: Virginia Economic Development Partnership Authority; marketing plan information, report.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2018-11-30 - Left in Appropriations [HB960 Detail]

Download: Virginia-2019-HB960-Prefiled.html
18101466D
HOUSE BILL NO. 960
Offered January 10, 2018
Prefiled January 9, 2018
A BILL to amend and reenact §2.2-2237.1 of the Code of Virginia, relating to the Virginia Economic Development Partnership Authority; marketing plan and report.
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Patron-- Yancey
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Referred to Committee on Appropriations
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Be it enacted by the General Assembly of Virginia:

1. That §2.2-2237.1 of the Code of Virginia is amended and reenacted as follows:

§2.2-2237.1. Board of directors to develop strategic plan for economic development; marketing plan; operational plan; submission.

A. The Board and the Chief Executive Officer shall develop and update biennially a strategic plan for specific economic development activities for the Commonwealth as a whole. The strategic plan shall be responsive to the comprehensive economic development policy developed pursuant to §2.2-205. The strategic plan of the Authority shall, at a minimum, include:

1. The identification of specific goals and objectives for the Authority and the development of quantifiable metrics and performance measures for attaining each such goal and objective;

2. A systematic assessment of how the Authority can best add value in carrying out each of its statutory powers and duties; and

3. Such other information deemed appropriate by the Board to ensure that the Authority fully executes its powers and duties.

B. The Authority shall report annually on its strategic plan, any modifications to the strategic plan, and its progress toward meeting the goals and objectives as stated in the strategic plan to the special subcommittee on economic development of the Joint Legislative Audit and Review Commission and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance.

C. The Board shall include in its strategic planning process the participation of key economic development partners, including state, regional, and local economic development agencies and organizations and international trade organizations.

D. In addition, the Board and the Chief Executive Officer shall develop and update biennially:

1. A marketing plan for the Commonwealth as a whole. The marketing plan of the Authority shall, at a minimum, include:

a. Identification of the Authority's specific and measurable marketing goals and the timetable to achieve such goals;

b. Identification of specific marketing activities, including trade show participation and efforts to market Virginia at U.S. embassies and other international locations;

c. The resources and staff allocated to such marketing activities; and

d. The development of quantifiable metrics and performance measures for attaining each such goal, including comparisons with the marketing efforts of other states.

The Authority shall report annually on its marketing plan, any modifications to the marketing plan, and its progress toward meeting the goals and objectives as stated in the marketing plan, and its improvements upon prior years' results in meeting the goals and objectives to the Governor, the General Assembly, the special subcommittee on economic development of the Joint Legislative Audit and Review Commission, and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance; and

2. An operational plan for carrying out the powers and duties of the Authority. The operational plan of the Authority shall, at a minimum, include:

a. A process to evaluate the Authority's effectiveness in exercising the powers and duties conferred by this article, including the Authority's ability to work with other state, regional, and local economic development organizations and international trade organizations; and

b. A strategy for coordinating with state agencies that administer economic development incentive programs and relevant executive branch committees, councils, authorities, and commissions to maximize the effectiveness of state economic development programs and activities.

The Authority shall report annually on its operational plan, any modifications to the operational plan, and its progress toward meeting the goals and objectives as stated in the operational plan to the special subcommittee on economic development of the Joint Legislative Audit and Review Commission and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance.

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