What it is
The Virginia Economic Development Partnership (VEDP) describes itself as the Commonwealth of Virginia's official economic development authority. It is governed by a 17 member Board of Directors and has offices in Virginia as well as in Germany, Japan, Taiwan and South Korea. Its main job is helping companies that are new to Virginia or expanding in the state with site selection, workforce, incentives, regulatory guidance and market data.
What it offers founders
Most of VEDP's work is aimed at companies making location or expansion decisions, so early stage founders should know which pieces fit them. Its services include talent strategy and workforce solutions, analytics and strategic insights, real estate advisory, incentive coordination, regulatory navigation and permitting support, and soft landing and trade assistance for international companies.
- InternshipsVA: resources, regional internship managers and a matching grant that reimburses 50% of an intern's wages for employers with 150 or fewer Virginia employees.
- Virginia Jobs Investment Program: recruitment and training support plus funding per net new full time job, with a small business track for companies of 250 or fewer employees.
- Virginia Talent Accelerator Program: customized recruitment and training at no cost to eligible new and expanding companies.
VEDP's incentives page also lists the Virginia Small Business Financing Authority, which provides debt financing for small business formation and expansion.
Who it is for
VEDP serves businesses across industries, including domestic firms relocating or expanding in Virginia, international companies entering the United States, and Virginia companies growing abroad. Many of its discretionary grants are meant for traded sector projects that are competing with another state or country, and VEDP notes that it does not provide project financing.
How to engage
Start with the staff directory and contact page to reach a business manager. For workforce programs, the process typically begins with a conversation about your hiring and training needs before an application. InternshipsVA requires employers to apply for the matching grant before the internship begins, and VJIP is not available for projects that have already been publicly announced. Check each program page for current thresholds and forms.
Why it matters in the DMV ecosystem
For founders in Northern Virginia, VEDP is the state level partner behind many hiring, training and expansion incentives. A seed stage startup may only use InternshipsVA at first, but a company planning to add jobs or open a larger Virginia operation will likely work with VEDP on incentive and workforce questions.
