Virginia Business magazine has named Stephen Moret, CEO of the Virginia Economic Development Partnership, as its 2019 business person of the year. The recognition is richly deserved. In less than three years, Moret has overhauled the badly dysfunctional VEDP, directed the effort to capture Amazon’s HQ2 project, restored Virginia to a top ranked state for business climate, and launched several initiatives that should improve the state’s economic competitiveness even more in the years to come.
The magazine has an excellent profile in its current edition, telling the story of his upbringing in a small Mississippi town, his winning a Louisiana State University scholarship by playing the trumpet, his contributions as a senior member of Louisiana Governor Bobby Jindal’s administration, and then his move to Virginia as chief economic developer.
The only insight I would add to the Virginia Business profile would be to note the breadth of Moret’s interests. The VEDP has a narrow scope: recruiting out-of-state corporate investment to Virginia (with a side job of promoting foreign trade). Moret, quite rightly, understands that the key to attracting corporate investment is building and retaining human capital. He also comprehends the role of university-centered innovation ecosystems in driving economic growth. Weaving together the strands of corporate recruitment, workforce development, and higher-ed, he has emerged not only as the leading practitioner of economic development in Virginia but its most visible and articulate theoretician.