Followups: January 2017

VEDP board names new CEO
The board of directors of the Virginia Economic Development Partnership (VEDP) in late November named Stephen Moret, a Louisiana economic development executive, as its next CEO. The appointment was scheduled to begin Jan. 1.

The announcement came only two weeks after a General Assembly watchdog group, the Joint Legislative Audit and Review Commission (JLARC), issued a scathing report on VEDP operations, listing 35 recommendations for change.

VEDP was searching for a new top executive when the report was released. Some legislators urged the board to delay a hiring decision until the General Assembly could act on JLARC’s recommendations.

VEDP Chairman Dan Clemente, however, said that hiring a new, highly qualified leader will help shepherd through changes resulting from JLARC’s review. He said that Moret was picked to head Louisiana’s economic development efforts in 2009 under conditions similar to those facing VEDP today. Moret’s accomplishments in that post drew national attention.

Moret most recently was president and CEO of the Louisiana State University Foundation in Baton Rouge.

A story about the JLARC report and other changes taking place in economic development in Virginia  appeared in the December issue. An updated version including Moret’s appointment appeared on VirginiaBusiness.com.

1776 co-CEO to step down
Donna Harris, co-founder of 1776, will step down as co-CEO of the Washington, D.C.-based incubator and seed fund at the end of January.

Harris said in a late November blog that she will remain on 1776’s board of directors and continue to be an investor in the organization, which established a site in Arlington in 2015.

Virginia Business profiled Harris in its December issue. An updated version of the story, including the change in Harris’ status at 1776, appeared on VirginiaBusiness.com