NEWS: City Economic Agency Asks for $110K in Annual Funding
Amount requested by Williamsburg Economic Development Agency stays flat year-over-year
Last week, the Williamsburg Economic Development Agency requested no new funding from the City Council for its Fiscal Year 2026 Operating Budget. In a letter posted on the City’s website, Adria Vanhoozier, EDA Chair, requests $110,000 from the City, the same amount requested the previous year.
In the letter, Vanhoozier writes that “Williamsburg maintains a high-quality sense of place that appeals to citizens, students and visitors. Williamsburg remains a specialty entertainment, cultural and retail center of the Historic Triangle.”
Vanhoozier explains in the letter that the EDA’s ongoing goal is to ensure economic activity in “the City is more diversified, building on its current strengths in retail trade, tourism/hospitality, and education, while growing emerging areas of cultural arts, the creative economy, research/development and professional service offices.”
The largest line item in the Agency’s budget request is $42,500 in funding to support entrepreneurship programs, including Launchpad, the region's small business incubator run by the College of William and Mary. The second highest expenditure is $30,000 for “new business recruitment.”
Administration fees are expected to total $15,000. According to the letter, these expenses include legal fees, annual audit, dues and membership, insurance, postage, legal ads. Other line items include money for what the letter labels existing business programs, professional services and business roundtables.
(Update: 1-6-25 The headline was updated for clarity and to identify the piece as news.)
George Arbogust is Founder and Editor of the Williamsburg Independent. You can contribute too! Send tips and story ideas to contact@williamsburgindependent.com.