Albemarle County Economic Development Authority
The Albemarle County Economic Development Authority is responsible for promoting and encouraging development in Albemarle County. The Authority was formerly known as the Industrial Development Authority and has been an active partner in implementing the Project ENABLE economic development strategy working alongside Albemarle County Economic Development. In 2025, the EDA approved a new economic development strategic plan. [1]
The Authority secures bond financing for non-profit organizations with major capital projects and also serves as a conduit for grant funding from various sources.
Activities are directed by an economic development strategic plan approved by the Albemarle Board of Supervisors in August 2025 to succeed Project ENABLE. [2]
Economic development projects
Many initiatives that the EDA and the county's economic development office work on have code names.
- 49ers *per January 21, 2020 minutes
- Baja
- Bee Friend (February 15, 2022 closes session)
- Bengal (per minutes from 1-15-2019 EDA meeting)
- Bronco
- Browns (per minutes from 1-15-2019 EDA meeting)
- Cardinal *(September 21, 2021 closed session) (November 16, 2021)
- Cavalier (November 16, 2021)
- Cowboy (October 18, 2022 closed session)
- Daffodil (Willowtree) (per September 18, 2018 EDA minutes)
- Gadget *(September 21, 2021 closed session)
- Hawk (CoConstruct) (per September 18, 2018 EDA minutes) (closed session held on 3-19-2019)
- Julian (closed session scheduled for July 16, 2024)
- Khaki March 15, 2022 (closed session)
- Knight Rider (Perrone Robotics) (per November 20, 2018 EDA minutes) (per March 16, 2021 minutes
- Lakers (per minutes from 11-19-2019 EDA meeting)
- Leppard *per March 16, 2021 closed session – This would go on to be for Bonumose to set up a lab in the former State Farm headquarters (April 20, 2021 closed session) On October 19, 2021 – The EDA authorized a performance agreement for the Bonumose demonstration facility in the former State Farm building. This has the code name Project Leppard. [3]
- Lightyear (closed session held on April 16, 2024) [4]
- Macintosh
- Olympian (closed session held for June 18, 2024 and another scheduled for July 16, 2024)
- Patriot (closed session held on 3-19-2019) (closed session held on 5-21-2019)
- Poma *(September 21, 2021 closed session) (November 16, 2021)
- Proton (per minutes of the 11-17-2020 eda meeting
- Puma (may be Poma)
- Rebound – General economic development efforts post pandemic
- Packet *(September 21, 2021 closed session)
- Stark (November 16, 2021)
- Turtle
Non-profit examples
- The Westminster Canterbury facility in Pantops
- The Monticello Vistor's Center (2009) and purchase of Montalto property.
- Capital equipment for the University of Virginia (e.g. information technology)
- Albemarle County's public safety and office facilities
The Fitch ratings agency rated the EDA's $78 million in revenue bonds as AA+ in 2011. [5]
History
The Industrial Development Authority was created on May 12, 1976.[6] It is a political subdivision of Virginia and seen as an independent and separate entity from the county government, similar to the Albemarle County Service Authority.
Members
- Donald Long, Chair, At-large (term expires January 19, 2027)
- Jeff Morrill, Vice Chair, Samuel Miller District (term expires on January 19, 2028)
- Andrea Johnson, Secretary/Treasurer, Jack Jouett District (term expires on January 19, 2027)
- Bill Mechnick, Rivanna District (term expires January 19, 2026)
- Steve Hood, White Hall District (term expires January 19, 2026)
- David Storm, Scottsville District (term expires on January 19, 2028)
- Frank Friedman, Rio District
Three members resigned in July 2020 rather than sign conflict of interest forms. [citation needed]
Former members
- George Ray, Vice Chair, Rio District (term had been set to expire January 19, 2026)
Timeline
- March 19, 2024 – The EDA Board approves a $300,000 match for a GO Virginia Region 9 grant to Cville BioHub for their Cville Bio Accelerator project [7]
External links
- Economic Development Authority's entry on County website
- https://ia2010.albemarle.org/EconDev/eda/default.aspx Meeting schedule]
References
- ↑ Web. Albemarle County Supervisors adopt an updated economic development strategic plan, Sean Tubbs, News Article, Town Crier Productions, August 22, 2025, retrieved September 14, 2025.
- ↑ Web. Albemarle’s Economic Development Director provides more details on Rivanna Futures, Sean Tubbs, News Article, Town Crier Productions, November 22, 2025, retrieved November 23, 2025.
- ↑ Web. Bonumose to set up Hershey Research Plant at former State Farm HQ, Sean Tubbs, News Article, Town Crier Productions, October 15, 2021, retrieved March 13, 2022.
- ↑ Web. Albemarle County Economic Development Authority Meeting Agenda April 16, 2024, Agenda, County of Albemarle, retrieved June 2, 2024.
- ↑ Web. [1], Fitch Rates Albemarle County Econ Dev Auth, VA's $78MM Revenue Bonds 'AA+'; Outlook Stable, June 2, 2021, retrieved June 27, 2021.
- ↑ "Boards and Commissions Maintenance." Albemarle County Website. Albemarle County, n.d. Web. 23 July 2009. <http://www.albemarle.org/>.
- ↑ Web. Resolution to Provide Matching Funds to Provide Matching Funds for GO Virginia Economic Resilience & Recovery Grant to Charlotesville BioHub, Resolution, Albemarle County Economic Development Authority, retrieved April 5, 2025.