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Henrico Economic Development Authority
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December, 2011
The Henrico Economic Development Authority was created in 1968 as a political subdivision of the Commonwealth of Virginia. In 1984, the Henrico County Board of Supervisors designated the Authority as the County’s official economic development organization, and authorized the Authority to act to accomplish the County’s economic development goals. Although the Authority is officially independent of the County, it works very closely with the County government and receives support in the form of an annual operating budget.
The Authority issues tax exempt industrial revenue bonds for the purpose of promoting economic development by assisting certain desirable enterprises to locate or remain in the County. These bonds are financed by non-governmental lenders and do not constitute a debt of the County or the Authority. Bonds are repaid solely from the revenue and receipts derived from the projects which they finance.
The Authority employs its own staff of seven professionals, manages its own day-to-day operations, sets the annual fees charged on bonds and approves the expenditures of fees.
Meetings are scheduled on the third Thursday of each month at 6:30 p.m., with special meetings called as necessary. Meetings are held in the conference room of the Economic Development Authority’s office located at 4300 E. Parham Road, Henrico, Virginia 23228.
