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Charlottesville, Virginia (March 14, 2024) — Virginia Economic Developers Association (VEDA) awarded its 2024 Community Economic Development Awards (CEDA) to six communities in the Commonwealth for initiatives that advance economic viability through economic and community development programs.
The CEDA program recognizes best practices and exceptional contributions for the following efforts: business retention and expansion, business recruitment, community development and community involvement.
The winning recipients received their awards at VEDA’s 2024 Spring Conference at the Omni Hotel in Charlottesville.
CEDA recipients are the Town of St. Paul, Wythe County, City of Waynesboro, City of Harrisonburg, Henrico County, and Arlington County (honorable mention)
Entries into the annual awards program are judged on innovativeness, transferability, community commitment and overall benefits derived from each.
VEDA will submit the winning entries to the Southern Economic Development Council (SEDC) for consideration under its award program that takes place later this year.
“We selected winners in every demographic category that reflect the collective strength we share in Virginia,” said Rebekah Castle, Director of Economic Development & Marketing in Augusta County and Chair of the CEDA committee. “The award-winning projects raise the bar for collaboration and vision in economic development, and I congratulate all the recipients.”
Learn more about the winning projects below.
The Lyric Theater
Rehabilitation of the Lyric Theater was an innovative project in a variety of ways. The Town of St. Paul identified the need for an economic shift from coal and rail to eco-tourism and identified the Lyric as an opportunity to draw residents and tourists to the community. St. Paul applied for an Industrial Revitalization Fund grant from the Virginia Department of Housing and Community Development to fund the project after securing a $300,000 grant from the Appalachian Regional Commission. Multiple other grants and individual donations funded the project that has ripple effects across the community with new restaurants opening, job creation and an increase in local sales tax, resulting from concessions purchased at the theater.
Southwest Virginia Regional Housing Summit
Seven localities showcased how residential construction is meeting the housing needs in their respective communities. Each locality presented properties with developmental potential, and summit attendees learned about the experiences of former developers and housing organizations. The event served as a catalyst for creative solutions for public and private partners committed to addressing housing needs. Sponsorship and attendance exceeded expectations in addition to bringing interest and meaningful discussion to the region.
Grow Waynesboro Main & Wayne
Grow Waynesboro Main & Wayne is a free business training program designed to provide a base of business fundamentals to individuals looking to start or expand a business in Waynesboro. Following the completion of an eight-week business planning course, selected individuals competed in a live Pitch Night for up to $25,000. Pitch Night in downtown Waynesboro was held in front of a standing-room only crowd. Judges awarded four local businesses, helping them create jobs and continue to build a culture of entrepreneurship in Waynesboro. A total of $53,000 was awarded to four businesses.
Harrisonburg Downtown 2040
Harrisonburg Economic Development, Harrisonburg Downtown Renaissance and a volunteer steering committee of 30 created a master plan with input from multiple public and private organizations in Harrisonburg. Harrisonburg’s level of effort to reach every demographic in their community, through various mediums of engagement, offered opportunity for residents to provide feedback in the way they were most comfortable. The plan helped the city and downtown organization improve and leverage its local universities. Despite unfolding amid the COVID-19 pandemic, Downtown 2040 connected more than 500 people and received over 460 ideas.
Pop-Up Mentoring Program (PUMP) for Small Business
PUMP, spearheaded by the Henrico Economic Development Authority, showcases groundbreaking approaches to distributing business support resources, providing business mentorship and engaging with the community. PUMP’s core innovation is its ability to provide hands-on, one-on-one mentoring in a “pop-up" format without the need for formal meetings or the intimidation of a corporate office space. The lack of registration requirements eliminates barriers to attendance, particularly for those who struggle with technology and prefer in-person coaching. Participants in PUMP gained access to a comprehensive network of support. The success and adaptability of PUMP showcases its capacity to be a transformative force in economic and community development.
Arlington Innovation Fund (AIF) – Honorable Mention
The Arlington Innovation Fund strengthens the local innovation ecosystem and supports home-grown tech entrepreneurs. The program has two components, the Catalyst Grant Fund, which awards cash grants to tech startups, and the Ecosystem Support Fund, which sponsors programming to support tech entrepreneurs. AIF is innovative in that it focuses on supporting tech product companies at their earliest stage. The Catalyst Grant Program awards grants of up to $50,000 to early-stage tech companies. Rather than using conventional metrics to make award determinations, Arlington Economic Development (AED) works with a third-party to evaluate companies on factors such as proof of concept, experience of company leadership and strength of business model. This allows AED to focus on the companies’ potential growth and offer cash assistance where it will have the highest impact.
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