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Lynchburg EDA’s approach: branding, incentives and targeted programs, director says
Summary
Lynchburg’s economic development director told Albemarle’s EDA that Lynchburg has used its EDA’s autonomy to buy property, fund branding and a website, run internship and teacher-housing programs, and encumber $2 million to secure new air service; she urged clear policies and ROI analysis for EDA actions.
Marjette Upsher, Lynchburg’s economic development director, described how her city’s industrial development authority has been used to make strategic, sometimes confidential, investments that the city budget could not fund directly.
‘‘The EDA paid for that brand,’’ Upsher said, describing how the authority funded Lynchburg’s new economic-development website and marketing. She explained that when routine city funding was constrained, the EDA used its revenue and special authorities to…
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