Economic Development News
a publication from the Charlottesville Office of Economic Development April 2012 |
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| TJPED RELEASES TARGET MARKETS REPORT |
The Thomas Jefferson Partnership for Economic Development (TJPED) released the results of its Comprehensive Target Markets Report over the course of two days in April. In the hopes of spurring economic development in the Central Virginia region, the report offers an analysis of the optimal industry groups to target going forward.
Overall, the study found that Business / Financial Services and Information Technology / Telecommunications are the optimal industries to target as a collective region. Helen Cauthen, President of the TJPED, stated that "these regional targets will provide key focus areas for TJPED going forward and give us a strong starting point on which to collaborate and work together." However, she also noted that "each of our region's counties and Charlottesville are also very unique." In line with this thinking, the report also provided industry target recommendations specifically for the City of Charlottesville, as well as for Albemarle, Culpepper, Fluvanna, Madison, Nelson, and Orange counties. Beyond the two regional targets, Charlottesville's optimal industry targets include: Bioscience and Medical Devices; Defense and Security; Health Services; and Arts, Design, Sports and Media.
The report drew upon information such as potential hidden labor supply, assessments of the industry groups that currently operate in Central Virginia, as well as those with the best prospects going forward. Through this report, Cauthen says that the TJPED has gained "a better understanding of the region and will develop a specific implementation plan for it. Over the next few years, this report will enable TJPED to better support our existing businesses and market the region to selectively attract jobs."
To view the report in full, please visit the Thomas Jefferson Partnership for Economic Development's WEBSITE. |
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| STELLARONE OPENS NEW BRANCH ON PRESTON AVENUE |
 StellarOne, a Christiansburg-based bank with over fifty locations in Central Virginia, opened a new Downtown Charlottesville branch at 300 Preston Avenue on April 26th. But, unlike its other branches, the new Preston Avenue branch will not feature the teller windows or counters that are the traditional hallmarks of the banking experience. Instead, employees will sit down with customers at round tables in an effort to make banking more accessible and customer friendly.
This new café-inspired layout is a novel approach to banking, and StellarOne officials believe that their changes will improve the customer's banking experience. Angela Ross, StellarOne's Chief Branding Officer, suggests that this new layout will make banking feel less "stuffy." She goes onto say that this emphasis on accessibility will help put "the consumer in charge of the banking relationship" without sacrificing professionalism.
For more information about StellarOne, please visit the WEBSITE or read the announcement about the new branch accessible HERE. |
| TOM TOM FESTIVAL PROMOTES ENTREPRENEURSHIP IN CHARLOTTESVILLE |
 In an afternoon celebration at McGuffey Art Center on April 13th, the first Tom Tom Founders Festival (TTFF) got off to a roaring start. Unlike other festivals in the area, this month-long event features a series of panels, keynote speakers, and other events to encourage entrepreneurship. Mark Crowell, Executive Director of Innovation Partnerships with UVA, calls the festival "a very exciting and wonderful opportunity to showcase Charlottesville as a cool, buzzing, entrepreneurial and innovation hot-spot."
As a part of this focus on innovation, TTFF is hosting informal panel discussions with four local entrepreneurs every Monday evening until the Festival's May 12th conclusion at the Tom Tom headquarters on South First Street. Each Wednesday night, TTFF is also highlighting examples of local innovation, as well as trending industries in the Charlottesville area at The Gleason on Garret Street.
In addition to innovation, the Festival also focuses on music and arts, with two full days of music from more than 50 bands on May 11th and 12th and various exhibits throughout the month. To learn more about these initiatives and to see an event schedule, please visit the Tom Tom Founders Festival WEBSITE. |
| CITY BUSINESSES LEARN ABOUT GOVERNMENT PROCUREMENT |
 On April 5th, almost 50 Charlottesville business representatives gathered at CitySpace for a morning workshop on Selling to the City. A joint effort by the Office of Economic Development, the Division of Procurement and Risk Management, and Neighborhood Development Services, the workshop offered valuable pieces of advice for businesspeople interested in selling their products and services to the City.
In addition to presentations on becoming a registered vendor with the City and becoming a Section 3 certified business, the workshop also featured a series of roundtable discussions with buyers from various City departments. During these discussions, businesses had the opportunity to find out what these buyers purchase on a regular basis and what purchases are in the pipeline for the near future. Attendees were also given an overview of various resources in our community that assist businesses interested in learning more about government procurement.
The Selling to the City workshop provided a forum for both informative presentations and networking between City buyers and service providers. For more information about how you can become a registered vendor with the City of Charlottesville, please contact the Office of Economic Development at 434-970-3117. |
| COMMUNITY INVESTMENT COLLABORATIVE HOLDS FIRST CLASS |
This month, the Community Investment Collaborative (CIC) hosted its first class for entrepreneurs hoping to start a business in Charlottesville, but unable to secure funds from conventional sources. This school-for-startups is offering its inaugural class of twenty-three education in the skills necessary to run a business such as business planning, marketing, and bookkeeping. The CIC also offers programs to help its students build the strong credit history necessary to secure financial backing.
Of the eighteen businesses in the CIC's inaugural class, eleven are startups while the other eight hope to expand the footprint of their existing business. The businesses in this first class come from a wide variety of backgrounds and industries, with businesses including a Jamaican restaurant, a transport business for the disabled, a DJ company, and an alternative taxi company for low-income or handicapped residents. Reflecting the CIC's emphasis on partnership and development, Kathryn Sharpe from UVA's Darden School of Business and 55 of her students will provide market research services to eleven of these prospective entrepreneurs.
Overall, Toan Nguyen, chair of the CIC, sees this class as an opportunity to empower other prospective entrepreneurs. "That's the power. It's hope. Without that, it's hard to move forward."
The Office of Economic Development is sponsoring the attendance of four City-based entrepreneurs in the inaugural CIC class. |
| ALMOST 100 ORGANIZATIONS ATTEND CHARLOTTESVILLE COMMUNITY JOB FAIR |
 On Wednesday, April 25th, the Charlottesville Community Spring Job Fair was held at John Paul Jones Arena. The job fair, which is the largest of its kind in Central Virginia, hosted more than 200 recruiters from almost 100 organizations with over 1,000 open positions. A wide variety of industries such as technology, healthcare, government, staffing, and education were represented. Most of the area's largest employers participated in the event, including UVA Health System, the City of Charlottesville, and Albemarle County Schools - Department of Transportation.
More than 1,000 job seekers attended the job fair. Throughout the day, workshops were held that focused on topics such as staying motivated during the job search, using the internet for the job search, and starting a small business. A resource room where job seekers could get help with interviewing, editing resumes, and completing applications was also available onsite.
The job fair furthers City Council's workforce development efforts by improving employment opportunities for area residents so that all may share in the economic well-being of the City. It is sponsored by the City of Charlottesville in partnership with the County of Albemarle, the Adult Learning Center, the Department of Rehabilitative Services, the International Rescue Committee, National College, the OAR, the Piedmont Workforce Network, the Virginia Employment Commission, and the Virginia Workforce Center. For those who weren't able to attend the event, a list of participating employers and open positions is available on the job fair WEBSITE. |
| UPCOMING EVENTS |
May 2, 2012 - CBA @ PVCC Course: Power Strategies to Get Your Business Seen and Heard - 9:00AM-12:00PM
This workshop will help organizations and entrepreneurs gain an understanding of, and the ability, to apply business storytelling, messaging, and positioning in order to boost the power of their presentations, written materials, online presence, and overall public business face. For more information or to register for this workshop, please CLICK HERE.
May 5, 2012 - SCORE Workshop: Writing an Effective Business Plan - 9:30AM-12:30PM
This workshop will present a step-by-step analysis of a business plan for a typical small business. At the completion of this workshop, attendees should have learned how to begin constructing their own business plans. The primary topics are: Market Research, Business Goal, and Strategic Marketing Plan, all of which were covered in previous classes. For more information, CLICK HERE.
May 16, 2012 - CBA @ PVCC Course: To Catch a Thief! Simple Steps to Reduce Embezzlement - 9:00AM-12:00PM
Small businesses don't have the personnel to adequately provide the internal controls larger companies to reduce fraud. Small businesses are prone to fraud but it can be reduced with some basic knowledge and processes. So come learn from Rick White, CPA with Keiter Stephens, on how to protect the finances of your company. For more information or to register, CLICK HERE.
May 16, 2012 - Chamber Minority Business Council - 12:30PM-2:00PM
The purpose of the CMBC is to grow and support minority businesses by facilitating the startup of new businesses and the successful funning of existing businesses. The Council meets every 3rd Wednesday of each month from 12:30-2PM. For more information, CLICK HERE.
May 17, 2012 - CVSBDC: QuickBooks Advanced Topics - 1:00PM-5:00PM
Take your knowledge and use of QuckBooks to a higher level. This class will cover topics including: tricky customer and vendor transactions, customizing reports and forms, online banking, budgeting, and loan manager. Prior QuickBooks experience is required. For more information or to register, CLICK HERE.
May 19, 2012 - SCORE Workshop: Small Business Legal and Accounting - 10:15AM-12:15PM
Got a Legal or Accounting question about your business? This Workshop will give you the opportunity to hear presentations by professionals AND you will be able to ask questions. Join us to find out about federal, state and local taxation, bookkeeping requirements, legal business structures, regulations and many more. To register, CLICK HERE.
May 22, 2012 - Chamber Spring Luncheon - 11:30AM-1:30PM
At this event, the Chamber will present awardsfor the Chamber Small Business Person of the Year, present the Leadership Charlottesville Class of 2012, recognize Charlottesville Community Scholars, the CATEC Entrepreneur Program winners, and he CBIC Tech Tour Scholarship winners. The featured speaker is Coach Mike London, UVA Football. For more information or to register, CLICK HERE.
May 24, 2012 - 14th Annual CBIC Awards Gala and Fundraiser - 5:15PM-10:00PM
The Awards Gala and Fundraiser at Farmington Country Club is Charlottesville's premiere business and technology networking event, honoring area individuals and organizations making a noteworthy impact on society through their leadership an innovation, development, use and commercialization of new technologies. For more information on this event, please CLICK HERE. |
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The Office of Economic Development is the City's primary vehicle for economic development services. Our mission is to serve as a catalyst for public and private initiatives that promote the long-term economic vitality of Charlottesville.
The Economic Development staff works to expand the tax base and to provide quality job opportunities for citizens through new business development, retention/expansion initiatives, and workforce training. The Office also coordinates and administers the functions of the Charlottesville Economic Development Authority (CEDA). The Authority issues revenue bonds and assists with front end capital for projects.
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