This fund is designed to invest one-time, seed money into projects that will provide economic benefits to Fairfax County.
Purpose
Unlike traditional economic incentives offered by some governments, the Economic Opportunity Reserved directs investments into three kinds of projects:
- Capital development
- Real estate acquisition
- Programming support for economic development activities identified in the Countywide Strategic Plan
- Programs to mitigate the impact of the COVID-19 pandemic
These projects should provide a reasonable return on investment over a 10-year period. Returns include creating value, increasing economic growth, and generating taxable revenue.
How Projects Are Chosen
Projects are nominated by the County Executive or Board of Supervisors. The Board approves the projects to be funded, as well as the amount of money allocated.