June 27, 2012

Suzanne West
(804) 545-5806
-Memorandum of Understanding signed to launch initiatives-

RICHMOND - The Virginia Economic Development Partnership (VEDP) Board of Directors today announced that it has signed a Memorandum of Understanding with the Virginia Port Authority (VPA) Board of Directors to undertake joint initiatives to best market Virginia to businesses using port facilities that create jobs and invest capital in Virginia.

The MOU was signed today in conjunction with the VEDP Board Meeting in Irvington.

The agreement is part of a larger initiative by VEDP to collaborate with organizations within the state to unify Virginia’s message in the global marketplace. This partnership will help both VEDP and VPA streamline efforts and maximize resources to increase opportunities and market share, as well as merge assets and extend Virginia’s marketing capabilities.

Specific initiatives outlined include: Creating a shared marketing message as it pertains to Virginia and port assets that will be used by both organizations in appropriate client presentations; VEDP and VPA featuring each other’s core marketing message on their respective websites; conducting joint client calls as marketing missions are developed by each organization; forming a team of public agencies, utilities and private sector companies that will serve as spokespersons for port related success stories in Virginia and be called on to meet with prospective investors to share the advantages of Virginia and its port assets; and collaboratively supporting a calendar of marketing activities.

“The partnership between VEDP and VPA has always been of paramount importance, as Virginia’s port facilities are among the most valuable infrastructure assets the Commonwealth offers,” said Julien Patterson, Chairman of VEDP Board of Directors. “The MOU signed today will help further extend the reach of Virginia’s marketing arm, and we look forward to the enhanced collaboration between VEDP and VPA to bring more jobs and investment to the Commonwealth.”

“The overall mission of the Virginia Port Authority is to foster and stimulate commerce through Virginia's state-owned general cargo terminals, and partnering with VEDP to aggressively market our assets collectively is a great next step,” said Michael Quillen, Chairman of the VPA Board. “There is no time like the present to streamline efforts and work together to create more robust marketing for the Commonwealth, and thus more economic opportunity.”
The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 22-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Shanghai, Mexico, Japan and the United Kingdom.

The Virginia Port Authority was established in 1952 as a political subdivision of the Commonwealth of Virginia for the purpose of stimulating commerce of the ports of the Commonwealth, promoting the shipment of goods and cargoes through the ports, improving the navigable tidal waters within the Commonwealth, and in general to perform any act or function which may be useful in developing, improving, or increasing the commerce of the ports of the Commonwealth. The Authority owns and is responsible for the operations and security of three marine terminals: Norfolk International Terminals (NIT), APM Terminals Portsmouth, Newport News Marine Terminal (NNMT), the Port of Richmond and an inland intermodal facility, the Virginia Inland Port (VIP) located in Front Royal. These facilities primarily handle import and export containerized and break-bulk cargoes.


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