AGENDA DATE: 12/7/2016
TITLE:
Title
Final Report on Route 29 Solutions Business Assistance Program
BODY
SUBJECT/PROPOSAL/REQUEST: Presentation of final budget and impact data related to the County’s Business Assistance Program related to the Route 29 Solutions construction projects
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Foley, Catlin, Stimart, Kilroy
PRESENTER (S): Lee Catlin
LEGAL REVIEW: Not Required
REVIEWED BY: Thomas C. Foley
BACKGROUND: In July 2015, the Board approved a multi-pronged Business Assistance Program designed to limit negative economic impacts to businesses during construction of the Route 29 Solutions projects with the following highlights:
- a series of technical, marketing, communications, and regulatory strategies to support businesses before, during and immediately after construction
- a concentrated focus on businesses in the footprint of the Route 29/Rio Road intersection project during the most intense construction period of that project, roughly April 2016 - September 2016
- a public-private partnership, including representatives from the Small Business Development Center (SBDC), the Senior Corps of Retired Executives (SCORE), the Charlottesville Regional Chamber of Commerce, the Albemarle County Economic Development Authority, the Virginia Department of Transportation, the Thomas Jefferson Planning District Commission, and businesses from the affected area
This agenda item provides a final update on the status of major strategies of the Business Assistance Program following completion of the Route 29/Rio Road intersection construction.
STRATEGIC PLAN: Goal 4: Economic Prosperity: Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals
DISCUSSION: Staff provided an implementation matrix to the Board as part of the Business Assistance Program when the program was approved last year. Attachment A is an up-to-date matrix showing the status of the approved strategies, including funding sources and levels. At the December 7 Board meeting, staff will provide a more in-depth update on the three major strategies listed below, which involve the great majority of the County’s funding obligation. Staff will also report on the most up-to-date financial metrics that are being tracked for this area.
1. Collective Marketing Campaign - The Business Assistance Program included a collective marketing campaign focused on promoting customer loyalty and continued patronage of businesses in the construction footprint of the Route 29/Rio intersection project. The collective marketing campaign was originally funded with $100,000 from the County. After the Board’s adoption of the Business Assistance Program, Virginia Secretary of Transportation Aubrey Layne announced an additional $200,000 from the State for the collective marketing campaign for a total of $300,000. An advisory committee comprised of representatives from businesses in the impact area and local partners met frequently to provide feedback and guidance to the marketing campaign consultant.
Highlights:
- Budget
Funding provided by County $100,000
Funding provided by VDOT $200,000
Total Funding $300,000
Total amount expended during campaign $278,000
Unexpended Funds $ 22,000
- Impact
Total media impressions: approximately 10 million
4.43 million traditional media
5.56 million digital media
Landing page traffic for campaign website:
4,866 total visits - peak performance occurred in May, with 2,337 visits
25,000 printed maps distributed and 590+ landing page map downloads completed
2. Matching Grant Program - The Business Assistance Program also included a matching grant program to boost the impact of marketing conducted by individual businesses during the construction project. Businesses meeting approved criteria were eligible for grants of up to $2,000 to equally match amounts spent to support the message of customer loyalty and continued patronage. The matching grant program was funded with $50,000 from the County and was administered by the Albemarle County Economic Development Authority.
Highlights:
- Budget:
Funding provided by the County $50,000
Total amount expended during grant program $35,000
Unexpended funds $17,000
- Impact:
# of businesses applying for grants 28
# of businesses awarded grants 27
# of businesses utilizing grants 20
3. Technical Assistance - The Business Assistance Program included a partnership with the Small Business Development Center to provide specialized workshops and trainings on site in the construction footprint as well as one-on-one mentoring and coaching opportunities.
Highlights
- Budget:
Funding provided by the County $17,000
Total amount expended $17,000
Unexpended funds $ 0
- Impact:
Workshops/training events 14
Workshop/training participants 72
Individual counseling/mentoring sessions 34
Program Indicators:
BUDGET IMPACT: Due to earlier than anticipated completion of the intersection project and minimal significant negative impacts on businesses in the construction footprint, the two marketing efforts were concluded sooner than originally planned resulting in approximately $37,000 in unexpended funds.
- Approximately $22,000 resides with the Thomas Jefferson Planning District Commission who acted as fiscal agent for the combined $300,000 collective marketing campaign.
- Approximately $15,000 resides with the Economic Development Authority who administered the matching grant program on the County’s behalf
RECOMMENDATION:
Recommendation
Staff recommends that the County receive the unexpended funds back from the two agencies named above and reserve the funds for redevelopment/revitalization initiatives related to the Route 29 corridor.
ATTACHMENTS:
Attachment A - Final Implementation Matrix