Updates from the Office of Economic Development

Office of Economic Development Releases 2021 Annual Report

OED is pleased to provide another annual update on our activities from 2021 as we continue to strive to fulfill our mission as a catalyst for economic activity. To view the report, please visit 2021 Annual Report. (Please note the issue platform does not support Internet Explorer.)

New OED Retail Storefront Vacancy Report Released

The City of Charlottesville’s twenty eighth vacancy study has been completed by the Office of Economic Development. This biannual report was conducted in January 2022. The overall vacancy rate of the major shopping centers in Charlottesville is 5.23%. These indicators suggest that the retail storefronts in Charlottesville are steadily recovering from the economic stress caused by the COIVD-19 pandemic. View the report here: January 2022 Vacancy Study.

Office Market Report Indicates Significant Change

Colliers, a commercial real estate brokerage with a strong local presence, has released its second half of 2021 market report. The report, which covers the City and County, indicates an overall vacancy of 14.7% for Class A space. This higher than average figure is reflective of the new Class A space that has been delivered to the market in recent months that is leased but not occupied. The CBD/Downtown area has current vacancy of 6.7%. The full report can be accessed at this LINK.

The Early-Stage Innovative Entrepreneurs Pitch Preview

Charlottesville Angel Network (CAN) and Virginia Small Business Development Center (VSBDC) are hosting a pitch practice on April 7, 2022. This event will have accredited angel investors for Virginia's early-stage innovative entrepreneurs at no cost. The deadline to register for this event is March 28th. Click here to learn more.

GO Cook Underway

The 10^th installment of the GO Cook culinary training program is underway with classes meeting Monday through Friday from 4:30pm to 9pm. The course is a combination of culinary arts, hospitality training and workplace readiness skills. The Office of Economic Development has been a key sponsor of this program for many years and wants to encourage interested city residents to express interest now for future classes. If you have questions or would like more information, please reach out to Roy Fitch, Job Center Outreach Coordinator, at 970-3959.

Downtown Job Center & Home to Hope Partnership

The Downtown Job Center works in partnership with the City’s Home To Hope Program in shared offices at 100 5^th St NE, also known as City Space. The Home to Hope program offers peer recovery services to formerly incarcerated city residents. Several support groups are provided including a weekly Women’s Support Group that explores day-to-day stresses associated with life and shares best practices in navigating life’s dilemmas. The group is facilitated by Ramanda Jackson and Stacey Washington and is open to the public. For more information, please call 434-970-3601 or by email hometohope@charlottesville.gov.

Upcoming Webinars from CVSBDC

CV SBDC is a team of business and technical experts available to listen, advise and assist entrepreneurs, confidentially and free of charge. They offer 1:1 assistance, connection to curated research, access to technical experts and professionals, and timely events and training.

Financing Your Business, Part 1 – February 16^th at 9:00 am PREREGISTER

Financing Your Business, Part 2 – February 23^rd @ 9 am PREREGISTER