April 16, 1998

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Virginia Economic Development Partnership Announces Restructuring of International Business Developm
-- New Division of International Trade Development Established - -

Richmond - The Virginia Economic Development Partnership (VEDP) today announced that the organization will restructure its international marketing activities. Recognizing the recent dramatic changes in the global marketplace, VEDP will consolidate its national and international business recruitment efforts under one division. In addition, an expanded emphasis will be placed on increasing Virginia's nonagricultural export development efforts with the creation of the Division of International Trade Development.

"It is critical to Virginia's future to anticipate and react to changes in the way business is conducted throughout the world," said Wayne L. Sterling, Executive Director of the Partnership. "This restructuring will allow more aggressive promotion of Virginia products and services to the global marketplace and keep our project management activities keenly focused on the attraction of new jobs and investment."

Andrew F. Flores was named director of the new VEDP Division of International Trade Development. Mr. Flores previously served as director of VEDP's Division of International Trade and Investment and has over 25 years of experience in international business.

VEDP's international project management functions will be consolidated with the National Business Development Division headed by C. Robert Gibson. With nearly 30 years of economic development experience, Mr. Gibson will manage an all-inclusive global project management team.

The Virginia Economic Development Partnership was created by the General Assembly in 1995 to encourage the attraction of jobs and investment and the expansion of existing business in the Commonwealth. It is governed by a 15-member board of directors appointed by the Governor.

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