RICHMOND, Va. – Virginia Department of Transportation (VDOT) Chief Deputy Commissioner Robert H. Cary, P.E., L.S., announced today that Laura Farmer has been named the agency’s new chief financial officer, following an extensive search and competitive recruitment process.
“Laura has served the Commonwealth’s financial and budgetary needs for nearly twenty years,” said Chief Deputy Commissioner Cary. “Her strong leadership, unique expertise in the transportation industry and vast institutional knowledge will serve VDOT well as we navigate new financial opportunities in the future. She has been an integral part of VDOT’s fiscal leadership team in driving resources toward valuable and beneficial transportation solutions.”
Laura Farmer, VDOT’s new chief financial officer
Farmer will be responsible for a $6.4 billion annual budget and nearly 150 team members serving VDOT’s financial planning, capital investment, fiscal management and tolling programs. As the agency’s director of financial planning since 2011, she has proved instrumental in establishing Virginia’s Grant Anticipation Revenue Vehicles (GARVEE) program, as well as providing for the financial arrangements around the agency’s innovative finance programs and public-private partnership projects, including the Elizabeth River Tunnels projects and I-95 Express Lanes. Prior to joining VDOT, she served as a budget analyst for health and human resources agencies at the Virginia Department of Planning and Budget.
Farmer will be responsible for a $6.4 billion annual budget and nearly 150 team members serving VDOT’s financial planning, capital investment, fiscal management and tolling programs. As the agency’s director of financial planning since 2011, she has proved instrumental in establishing Virginia’s Grant Anticipation Revenue Vehicles (GARVEE) program, as well as providing for the financial arrangements around the agency’s innovative finance programs and public-private partnership projects, including the Elizabeth River Tunnels projects and I-95 Express Lanes. Prior to joining VDOT, she served as a budget analyst for health and human resources agencies at the Virginia Department of Planning and Budget.
“I look forward to ensuring VDOT’s continued sound financial management,” said Farmer. “I’m committed to building strategic direction to advance efficiencies statewide, which will effectively deliver our projects and services to Virginia residents and travelers.”
Farmer earned a bachelor’s degree in history from Chowan University and a master’s degree in public policy from the College of William and Mary. She has also completed the Virginia Executive Institute and Commonwealth Management Institute programs and is a graduate of the International Bridge, Tunnel and Turnpike Association Leadership Academy.
Farmer assumed the new role on October 10, 2019 following John Lawson’s appointment as deputy secretary of transportation. She has been filling the role in an acting capacity since April.
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