Worm part next

 

The August 25 Economic Development workshop addressed a wide range of important topics.

The Board of Supervisors: Jonathan Christy, District 1; Neil Spoonhower, District 2; Tom Winfree, District 3 (vice chair); Charlie Vaughters, District 4 (chair); and Jonathan Lyle, District 5. Economic Development Authority—appointed at large by the supervisors—Ben Slone, Chair; Demerst, “DB” Smit; Lisa Dearden; Jennie Wood; and Ken Collier.

The task of economic development in Goochland is to attract new businesses and help those succeed. Visit https://www.goochlandforbusiness.com/ for details.

“Business” in Goochland takes many forms including tourism, agriculture related entities including farms and equine related enterprises. As Lisa Dearden pointed out, there may be more horses than school aged children in Goochland. 

The county’s industrial parks are home to a myriad of companies. Tourism and agribusiness also help the county’s bottom line. September 21 is the next farm tour day. Go to https://www.exploregoochland.com/186/2024-Goochland-Farm-Tour-Day for details.

Goochland based “venues” are bringing positive attention to Goochland in competitive spaces around the Commonwealth. The Virginia Restaurant Lodging Travel Association’s 2024 annual “Ordinary Award” finalists include the Estate at River Run in the attraction of the year category; Nicholas Lawrence of Dover Hall Experiences in the Chef of the Year category; and 7 Lady Vineyard at Dover Hall in the winery of the year category. These awards “honor the superb businesses and amazing employees of Virginia's tourism and hospitality industry” and will be presented on September 12. See https://www.vrlta.org/ for more information.

Christy and Wood asked if the county has redevelopment programs to help existing structures in disrepair, like the site of the former dry cleaner/laundromat in Courthouse Village, get back in business. None currently exist, said Worley, but she conceded that concept needs to be looked at.

Smaller businesses, defined by Worley as those with fewer than 500 employees, are more susceptible to disruptions in the economy. They sometimes need tools like help with permitting and money to expand. Such a tool, which does not currently exist, would help offset the cost of complying with government mandates and plans. It would be a sliding scale investment capped at five percent or $20k depending on the size of the capital investment. It would be a one-time incentive delivered when the permit is finalized. This would provide cash when it is needed, not over the five-year time frame of other incentives.

Returns on those investments would be increased real estate and commercial personal property taxes on the expansion and increased production.

The program would have guardrails that could include competition for funds and potential for increased tax revenue from the investment. Job creation, proof of financial stability of the business, and exactly how the incentive would enable the expansion, would be criteria for granting the incentive.

Tourism is perhaps the best kind of economic development. Visitors come to Goochland, enjoy our county, dine, buy things, and go home to educate their children and grow old elsewhere.

Worley expects specific recommendations about tourism opportunities to be include in the update of the parks and recreation master plan. Sports tourism is “huge” in our region, she said. Investments in new sports complexes to attract youth or adults should be considered. The superb mountain bike trail at Leake’s Mill Park draws people from near and far.

The 2021 Dixie Youth State Baseball Tournament held at Hidden Rock Park was very successful. Although Worley had no data about its economic impact, GOMM can report that there were lots of food containers from local eateries and many “supply runs” to Food Lion in Courthouse Village.

When the Richmond Strikers hold tournaments at their West Creek facility, the Residence Inn is sold out and restaurants are packed, Worley reported. Sadly, most restaurants are probably in Henrico.

She said that the county needs to promote its access to the James River at Tucker Park more.

Worley suggested that that county participate in the Tourist Oriented Directional Signs (TODS) program that guide visitors to local attractions. These are the only signs advertising individual businesses that VDOT allows on primary and secondary state roads. Costs range between $600 and $1,500 depending on the number of signs—one at every “turning”—are needed. She recommended a reimbursement grant for up to half of the cost on a first come first serve basis until a limited fund amount had been exhausted. This would be an annual cost.

Lyle, who has a professional background in tourism, contended that encouraging businesses to take part in programs like the TODS administered by other entities instead of handling them “in house” would avoid picking winners and losers and ease workflow for an ED limited staff.

The workshop provided an overview of economic development for the supervisors, most of whom are still new to the job. More data about costs and return on investment for programs and initiatives is needed.

Vaughters contended that studies underway by outside consultants will bring the cost and potential of economic development strategies into better focus to help the board decide how, or if, it will leverage the county’s AAA credit rating to issue bonds to fund infrastructure improvements to attract more business.

He asked for a detailed action plan that includes outcomes, future steps, and an actual way forward.

Other supervisors expressed reservations about the concept of the government owning and developing land for profit. In Goochland, diverting tax dollars needed to adequately fund core services for economic development propositions that could take years to generate return on investment, might not be the most prudent course of action..

These discussions are very important for the county’s future. It will be interesting to see how this unfolds. Stay tuned.