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Welcome to the Fourteenth Annual Investor’s Meeting.

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Presentation on theme: "Welcome to the Fourteenth Annual Investor’s Meeting."— Presentation transcript:

1 Welcome to the Fourteenth Annual Investor’s Meeting

2 Fredericksburg Regional Alliance Public/Private Partnership City of Fredericksburg – Karen Hedelt Caroline County – Gary Wilson King George County – Linwood Thomas Spotsylvania County – Tom Rumora Stafford County – Tim Baroody VEDP, SBA FRA Board of Directors UMW Center for Economic Development – Brian Baker 48 Private Sector Investors Public, Elected and Appointed Officials

3 Why Have a Regional Economic Development Organization? I.CEO’s Want Information on a Regional Basis – Beyond Locality Boundaries II.Difficult to Have One Locality Providing Information for Other Localities III.States Find it Challenging to Work with 135 or More Cities and Counties IV.Experienced Regional Team Viewed as an Asset in Handling Corporate Visits, as Opposed to a Self-Appointed Delegation V.To Be Eligible to Receive State Prospects, There Needs to Be a Regional Organization

4 Comments from CEO’s Looking at our Region  The tax rate is not as important in my decision making process as what do I get for my money.  Everything else being equal, I want my employees in a community where I feel wanted!  I can actually see myself doing business in this community.  The Rappahannock River and Downtown Fredericksburg are a real treasure… Clean and friendly… more people need to know about this area!

5 Current Considerations in Economic Development Ready to Build Site – Product Quick Response Team Can-Do People in Leadership Roles Sense of Community Understand Company – Offer Solutions, Not Sales Pitch Non-Disclosure Agreements Unintended Consequences – Soccer Fields, Traffic Comments, Earthquake Ability to Work Together

6 What Do We Control in the Arena of Economic Development? Corporate Decision Maker Environmental Phase I Report Immediate Access to International Airport Analysis of Data Ability to Obtain Financing Selection of One Locality Over the Other Integrity of Process

7 Four Major Drivers of Economic Development  Interstate Highway  University – Higher Education  Regional Airport  Quality Healthcare Germanna Community College

8 Main Street Benefits from FRA/UMW Partnership  Knowledge of cultural business Traditions-Presence of International students  Language translations  Regional studies, Cluster Analysis and Best Practices in Economic Development  Global teleconferencing facilities  Transfer Intellectual Capital in Academia into Profit on Main Street  Internships available – University of Mary Washington and Germanna Community College  UMW, David Barth  Germanna Community College, Nick Minor

9 Transportation as Seen From Outside the Region  FRED  Amtrak – Future High-speed Rail  VRE  Commuter Express Lanes  Regional Road Improvements  Stafford Regional Airport  Transportation Challenges

10 Promoting Sense of Community  Russell Knox Federal Complex  Three Military Bases  Ball Park  Race Track  Research Parks  Tourism  Retail  Medical Campus

11 2014 Fundraising Campaign  New Investors  Largest Private Sector Investment  Promoting Economic Development Improves Quality of Life  Reduce Carbon Footprint


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