AGENDA DATE: 5/15/2019
TITLE:
Title
Review Draft Policies for Economic Development Tools and Prepare for Joint Board/EDA Meeting
BODY
SUBJECT/PROPOSAL/REQUEST: Review Draft Policies for Economic Development Tools Prior to Joint Board of Supervisors/Economic Development Authority Meeting on June 18, 2019
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Walker, Kamptner, DeLoria, Johnson, Newberry, Schmack
PRESENTER (S): Roger Johnson, J.T. Newberry
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The last joint meetings between the Board of Supervisors and the Economic Development Authority (EDA) took place in 2017 and focused on the completion of the County's first-ever Economic Development Strategic Plan. In May of 2017, the Board and EDA reviewed a draft strategic plan developed by staff and consultants from DecideSmart, LLC. Then, in October of 2017, the Board, Planning Commission, and EDA jointly endorsed the Mission and Guiding Principles. The plan was strategically left incomplete until a new Director of Economic Development was hired, which occurred in April 2018. The Economic Development Strategic Plan (now called "Project ENABLE") was approved by the Board of Supervisors on December 5, 2018, following a public engagement process.
Project ENABLE identified several short-term goals, including the creation of County policies for three economic development tools by the middle of the 2019 (Goal 3 - Lead the County's Readiness to Accommodate Business). Staff has now received feedback from the EDA on policies for three new tools; a local capital investment grant, as well as two state grants, the Virginia Jobs Investment Program (VJIP) and the Commonwealth Development Opportunity Fund (COF) (see Attachments A - C). Staff will next receive feedback from the EDA on the draft policy of another state grant, the Agriculture Forestry Industries Development Fund (AFID), at its meeting on May 21st (Attachment D).
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