Updates from the Office of Economic Development

City Commercial Renovation Projects Featured in Livability Article

Livability wrote a great article about repurposing not-in-use industrial venues into community and commercial venues and breathing new life into them. Dairy Market, the Coca-Cola Building and Ix Art Park were some of the Charlottesville sites highlighted. All of these venues offers something for everyone in the community, be it art enthusiasts, family activities, foodies, or just a fun place to meet up with friends and enjoy the atmosphere. Collectively these rehabbed facilities provide the space needed for the businesses of today to flourish. Read more about it here and check them all out for yourself!

National Hybrid Work Survey

The International Parking and Mobility Institute (IPMI) is the world’s largest association of professionals in parking, transportation and mobility. The post-COVID world of hybrid work has had a significant impact on the availability of automobile parking and public transportation demand in cities of all sizes throughout this country. Thus, the issue of how long and how much hybrid office work will continue is of major importance to parking and transportation planners. In an attempt to provide data on the issue IPMI recently commissioned a survey of hybrid work. Currently employee’s report 23% are working from home, 46% are back in the office full-time and 31% are working a hybrid schedule. When asked what employees expect in the future, 18% expected to continue to work from home, 53% expect to come back to the office full time and 29% expect to continue to work a hybrid schedule. In Charlottesville there has been a significant reduction in parking demand downtown during the peak workday hours since the onset of COVID. While daily occupancy levels are rebounding, they have not yet reached pre-pandemic levels. Although future parking demand remains unclear, this survey suggests that many employees nationwide continue to see hybrid work arrangements as a viable option.

OED Fun Fact

The City of Charlottesville has had a AAA bond rating for over 50 years. This is a sign of a strong economy and well-managed municipal finances. Nationally fewer than 10% of cities have this highest ranking.

Charlottesville Ale Trail to Host 2022 "Walk Our City Crawl" on June 25th

The Charlottesville Ale Trail board will be hosting the 2022 “Walk Our City” brewery crawl on June 25^th to support the City’s seven craft breweries. There will be two crawl groups this year to allow for more people, each with a different starting location. Tickets are $45 and provide each person beer tickets, a passport gift, discounts on Ale Trail merchandise, and more. To purchase tickets or for a complete breakdown of all information, please click here.

Five-Year Anniversary for the Fountain Fund

The Fountain Fund provides low-interest loans and financial coaching to formerly incarcerated people; helping them build credit and achieve their self-determined goals. Recently, the organization held a 5-Year Anniversary Celebration and Progress Update. The event was held at the Jefferson School African American Heritage Center from 5:30pm to 7:00pm. The event presented an opportunity for community partners to meet and network with staff, board members and client partners. Additionally, it highlighted the achievements of the organization including new national initiatives and reaching the $1,000,000 loan lending mark. The Downtown Job Center is pleased to continue its partnership and collaboration with the Fountain Fund. For more information on the organization and the service they provide, please contact Roy Fitch at 434-970-3959 or fitchrl@charlottesville.gov.

City Sees Increase in Sales Tax Revenue for Q1 of 2022

As the City of Charlottesville continues to rebound from the effects of the COVID-19 pandemic, sales tax revenue is seeing an increase. According to information published by the Virginia Department of Taxation and highlighted by the Free Enterprise Forum, Charlottesville had a growth rate of 15.85% compared to the 2021 revenue. Approximately $198.9 million of sales tax revenue was collected in 2022-Q1, which represented approximately a $462,000 increase compared to the first quarter of 2021. This data indicates that despite inflation and supply chain issues, customers are continuing to spend in the retail sector.

Introduction to Selling to Virginia - Workshop #1

Are you a small business owner and want to do business with the Commonwealth of Virginia?

The Virginia Small Business Supplier Diversity will be hosting a session on June 1 @ 10:00 am - 11:30 am. They will review the purchasing process, policies, and resources. In addition, they will provide an overview of the eVA website and discuss the publicly accessible tools & resources every business should know about if they’re interested in selling to Virginia. Lastly, if you’re not already an eVA registered Vendor, you will have the opportunity to sign up. Click HERE to register.

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.

Money and Recordkeeping – May 26^th at 3:00 pm PREREGISTER

Marketing & Social Media NOW – June 6^th at 12:00 pm PREREGISTER

Hiring Employees – June 9^th at 3:00 pm PREREGISTER