AGENDA DATE: 8/13/2025
TITLE:
Title
Economic Development Strategic Plan
BODY
SUBJECT/PROPOSAL/REQUEST: Receive a presentation, jointly discuss with the Economic Development Authority, and consider approval of the Economic Development Strategic Plan
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Henry, Kilroy
PRESENTER (S): Emily Kilroy; Steven Pedigo, Resonance, VP for Economic Development
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In November 2018, the Board of Supervisors adopted Albemarle County’s first economic development strategic plan. The adopted Fiscal Year 2024-2028 Strategic Plan includes updating the economic development strategic plan as Objective 4.2.
In August 2024, the Board met with the Economic Development Authority in a joint session to initiate and provide early feedback on an updated plan. During that session, members of both public bodies discussed the importance of community, state, and federal partnerships; identifying strategic investment opportunities; supporting the Rivanna Futures project; aligning educational and training opportunities with employer needs as being; and supporting vibrant mixed use centers as opportunity areas to explore.
Over the past 12 months, staff have worked with a consultant to conduct data analysis, stakeholder engagement, and solicit community input to develop the draft economic development strategic plan. The plan’s development has been the subject of a work session with the Board of Supervisors, several work sessions with the Economic Development Authority, and a discussion with the Planning Commission, all of which have informed the plan’s development and refined the draft document provided as Attachment A.
STRATEGIC PLAN: Quality of Life - Encourage a vibrant community with economic and recreational opportunities that serve all community members.
DISCUSSION: The Economic Development Strategic Plan (Attachment A) establishes a Vision, Mission, and five goals to guide Albemarle County’s economic development strategy. The plan is intentionally adaptable, to guide resource allocation for proactive efforts and to provide a framework to respond to emerging opportunities and shifting macroeconomic conditions. While the plan closely touches the work of the Economic Development Office, staff across the organization and at organizations throughout the county and the Central Virginia Region are critical partners for executing on the plan.
An updated stakeholder engagement summary is provided as Attachment B. Technical appendices were provided to the Board at their work session on May 21, 2025.
BUDGET IMPACT: There is no budget impact associated with the plan’s adoption. Individual implementation efforts will be considered through regular resource planning and annual budget planning processes.
RECOMMENDATION:
Recommendation
Staff recommend the Board approve the economic development strategic plan per the resolution provided as Attachment C.
ATTACHMENTS:
A - Economic Development Strategic Plan
B - Stakeholder Engagement Summary
C - Resolution