Doing Business in Nelson County: Economic Development Authority 2006 Annual Report

Economic Development Authority 2006 Annual Report

Nelson County Economic Development Authority
2006 Annual Report

Mission Statement of the Nelson County Economic Development Authority (EDA):
To promote the diversity and growth of the County's economic base.

2006 Goals
Each of the 2003-2005 goals as outlined in the strategic plan continue to be priorities, but the EDA directed its focus on four specific goals:

Fostering existing business retention and expansions
Creating a County broadband strategy
Market the Callohill property
Gaining alternative revenue sources

2006 Progress
Existing Business Retention
The EDA hosted a Business Appreciation Event at Veritas June 14, 2006. More than 1100 businesses were invited, more than 250 businesses were represented at the event. State, local and regional business partners set up information areas for networking and exchange about business assistance programs.

Broadband
In 2004, Maureen Corum wrote a grant from the Rural Utilities Service with Amherst for a broadband study (that grant application is still pending).

Virginia Tech has drafted a preliminary report in 2005 that includes:
•   Study of County topography
•   Identification of private sector service providers and document market penetration
•   Identification of the opportunities to coordinate with the school system – existing strategies and resources
•   Identification of the opportunities to coordinate with private sector service providers - we do not want to compete with the private sector - encourage expansion of current levels of service, then, if necessary, offer service so that as many citizens as possible have access to broadband
•   Identification of future technologies that might be applicable
•   Identification of pilot project(s) applicable

The EDA hosted a business development team from Verizon at its meeting September 2005, who outlined Verizon’s criteria for DSL deployment.

The EDA funded a county-wide broadband survey in Nelson County. The regional broadband study is focused on three areas: economic development, education/telemedicine, and public safety. The survey answered the questions: where do we have broadband access and where is it needed/desired to further economic development opportunities, education/telemedicine services, and public safety?

The Spring, 2006 Broadband survey mailed to 7,940 households in Nelson County and 4,689 households in Elkton - the two pilot areas for the study - with 509 completed surveys returned. The survey findings indicated that:

- More than 60% of organizations have an Internet connection and all employees are accessing the Internet;
- More than 76% of the respondents use dial-up as their primary means of accessing the Internet;
- More than 96% use the Internet for email, followed in high percentages for browsing, research, banking and on-line ordering;
- More than 59% of respondents were not satisfied with their Internet speed/service;
- More than 43% were willing to pay more for higher quality and faster Internet access;
- More than 74% indicated that better Internet access is vital to them and/or their business over the next five years; and
- More than 90% believe they and their business would benefit from affordable broadband access.

December 2006, The County has applied for planning funds from the Virginia Department of Housing and Community Development's Rural Broadband Initiative.

Callohill Property
Requests for Proposals were issued and a contract is being reviewed on the sale of the 16 acre parcel.

Alternative Revenue Sources:

The EDA worked with the County's bond counsel and Albemarle County to issued a bond for Kappa Sigma Endowment and received $43,500 for its efforts.

Other Important Projects:

Lovingston Revitalization Project
The planning grant from the Department of Housing and Community Development was completed, although no funds for construction were received.
The County purchased a building on Front Street to renovate for the Economic Development and Tourism offices.

Communications and Relationships with Other Economic Development Actors
Members of the EDA met with members of the Board of Supervisors twice in 2006.

Funding the Central Virginia Small Business Development Center -
($5000 for FY 2006) in order to offer monthly on- site assistance and educational programs.