Doing Business in Nelson County: Economic Development Authority 2004 Annual Report

Economic Development Authority 2004 Annual Report

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

2004 Goals and Progress of Nelson County EDA

Goal 1. Business and Industry Development
1. Business retention and expansion
2. Rehab and renovated existing vacant buildings
3. Target industry study

Progress towards Goal 1.
1. January-November 2004:
19 business retention visits
25 new prospect visits
2. Lovingston Plannig Grant and historic district status underway.
3. Target business study completed; funded one-half cost of study $13,700

Goal 2. Communications and Relationships with Other Economic Development Actors
1. Spur/encourage other economic development groups to become more active and develop relationships with other economic development actors.
2. Get word out to public regarding what the EDA can do for community, in addition to educating the public regarding the benefits of economic development, tourism, and the like.

Progress towards Goal 2.
1. Met with Nellysford Area Merchants Association, Library, Hospitality and Travel Association, Chamber of Commerce, Planning Department and Amherst County Director of Economic Development, and Gail Troy (adult literacy)

Goal 3. Education, Workforce, and Technology
1. Work with Nelson County School District in developing entrepreneurism, whether through courses, seminars, etc.
2. Conduct a workforce audit (labor market study).
3. Prepare for adult education and retraining needs.
4. Continue to monitor Internet technology opportunities and to develop internet technology access plan for County.

Progress towards Goal 3.
1. Working with Small Business Development Center in Charlottesville, Piedmont Virginia Community College and Central Virginia Community College, and the Workforce Investment Board and Virginia Economic Development Association
2. No labor market study has been completed
3. Working with existing businesses on adult education opportunities
4. New County web site was launched July 2004 - better reflects economic development efforts - launched in July 2004 - 5000 views to 50,000 views in October

Goal 4. Tourism Development
1. Improve signage in County
2. Diversify tourism base in County
3. Develop infrastructure to support tourism (current and future), including hotels, restaurants, workforce, housing for tourism workforce, etc.
4. Maintain inventory of tourism product and infrastructure

Progress towards Goal 4
1. Gateway signs along Route 29 are being installed
2. Lodging and dining revenues are up this year; a new event, Taste of Nelson was launched in September
3. 3 new lodging establishments and 2 new restaurants opened in 2004.
4. An inventory of tourism product and infrastructure is being maintained

Other projects and accomplishments in 2004:
1. The EDA is following the zoning ordinance changes as they relate to home occupation and business development
2. Secured a bridge loan for California Side Car bond issue
3. Creating a working budget for 2005
4. Sponsored legislation enabling any locality to change its IDA to EDA - including Nelson County's
5. Created Standard Operating Procedures for handling business prospects and County incentives ö worked with the Board of Supervisors
6. Callohill property secured and bush hogged
7. Loan prospect market feasibility study funding - $20,800
8. Changed bylaws to better reflect operations