Coachella Valley Economic Partnership, End of Era

Coachella Valley Economic Partnership to Disband

PALM SPRINGS —About six months after Laura James was tapped to lead the Coachella Valley Economic Partnership, the Executive Board of Directors has voted to shutter the organization, according to three confidential sources.

This is a developing story, so check back for updates.

A formal news release is reportedly in the works.

The first public hint that foretold the beginning of the end was in late February when CVEP announced that after more than a decade of service, James was leaving the organization to embark upon the next phase of her economic development career.

James later posted a photo of herself on social media writing, “Obligatory new job selfie. Week 1 is in the books!” She is now employed as the Economic Development Manager for the city of Beaumont. James officially stepped down from her role on March 14.

The CVEP Board of Directors has been overseeing the transition and has created a Strategic Action Committee that will lead the implementation of the strategic plan that James – with the input of CVEP staff, board members, and numerous other Coachella Valley stakeholders – has crafted over the past eight months.

James followed former CEO Joe Wallace, who joined CVEP in 2012 to serve entrepreneurs and start-ups in the Coachella Valley.

He was honored with numerous awards throughout his career for his contributions to CVEP and the Coachella Valley over the years.

Wallace informed the CVEP board of directors in December 2023 about his plan to retire in June 2024, giving the economic partnership a transition period and time to consider and select a new leader.

Wallace, a technology entrepreneur, came to the Coachella Valley to start the Palm Springs iHub. With degrees or credentials from Stanford, Harvard, Evansville, and MIT plus a dozen startups under his belt, Joe values common sense business solutions that are rooted in scientific analysis.

Wallace told Uken Report Wednesday that he had not seen the release.

“I will gladly state that most of my memories of the 12.5 years I served as the founding Managing Director of the iHub and the 8.5 years I served as CEO of CVEP are good memories,” he told Uken Report.

As for the accomplishments of CVEP, there are many, he said. “That makes it is very difficult to single any one thing out. CVEP’s many accomplishments and services that went beyond the call of duty or even the mission, would be diminished by calling one the best. The legacy of CVEP if the rumor turns out to be true, will continue to be determined by the people who spent their careers there, the hundreds of businesses that were founded and mentored there, and the very visible fruits of our efforts that have elevated the entire Coachella Valley and the communities that form it.”

As the founding Managing Director of the Coachella Valley Innovation Hub and CEO of the Coachella Valley Economic Partnership, Wallace played a pivotal role in economic development.

Established in 1994, the Coachella Valley Economic Partnership’s mission is to incite vision-driven transformation in the Greater Palm Springs region. CVEP has emerged as a vital innovator of regional business development initiatives. The partnership promotes a diversified, year-round economy by facilitating programs that stimulate job creation in key industries through business attraction, retention and expansion.