This fund is designed to invest one-time, seed money into projects that will provide economic benefits to Fairfax County.
Unlike traditional economic incentives offered by some governments, the Economic Development Support Fund directs investments into three kinds of projects:
- Capital development projects
- Purchasing real estate
- Programming support for economic development activities identified in the Economic Success Plan
These projects should provide a reasonable return on investment over a 10-year period. These returns include creating value, increasing economic growth, and generating taxable revenue.
How Projects Are Chosen
Projects may only be nominated by the County Executive or Board of Supervisors, and the Board approves the projects to be funded, as well as the amount of money allocated.