Barragan Resigns From VEDC

Roberto Barragan, 57, has resigned as chief executive of the Valley Economic Development Center Inc., according to the L.A. Daily News. Barragan has worked for the small business finance organization for 17 years. His last day in office will be Oct. 28, but he will continue as an adviser until a new chief executive is appointed. Barragan joined the Sherman Oaks nonprofit in 1995 and has helped expand its reach into other cities and regions such as Chicago, Las Vegas, Miami and New York. According to the L.A. Daily News, Barragan earned over $300,000 in annual salary, which will be added to the Valley Economic Development Center’s general fund as the compensation committee will determine pay for the new head of the organization. The Valley Economic Development Center provides loans to small businesses and has lent more than $400 million since its inception.