2/18/20 Galax, VA – The Best Pick In Virginia History of Galax Incorporated as a town in 1906, became a City in 1953. u Population 6,423 u Independent City with full services and our own school system. u History – u u Typical small town with wood based manufacturing, textiles, railroad, etc. u Regionally – heavy in textiles and manufacturing. 2003 – 2008 Galax saw 5 major employers cease operations with u job losses totaling over 1500. Numerous other regional companies downsized and reduced u their workforce. Unemployment in Galax at the beginning of 2006 was 3.6%, u 2011– 11.3% Loss of jobs and loss of tax base (M&T, real estate values, u personal property). 2010 - Reduced fund balance, down to 2.75% of General Fund u Budget 1 2 Regional Collaboration/ Education Opportunities How to Recover Crossroads Institute – Founded by Galax, Carroll and Grayson; in q addition to our school systems. Converted Lowes Home Improvements to a “life q Began a focus on economic long learning” institute. Provides educational training, business restructuring through: q incubator , meeting areas and other services to our citizens. 25% of WCC students now take classes through Crossroads. Students can now Ø Regional Collaboration obtain 4 year degrees through New College Institute which works with VCU, ODU, Bluefield Ø Education Opportunities College, Radford University & Norfolk State. T enants: Ø Diversification of Our T ax Base Wytheville Community College Ø Music, Cultural Heritage, Tourism § Results XM (call center , 255 jobs) Ø Ø Local Efforts Blue Ridge Crossroads Economic Development Ø Authority (BRCEDA) Wired Road Authority Ø Small Business Development Center (SBDC) Ø Business incubator spaces Ø 3 4 1
2/18/20 Regional Collaboration - BRCEDA Regional Collaboration - BRCEDA u Formed in 2002 as a Regional Other BRCEDA Initiatives Industrial Facility Authority between Galax, Carroll and Grayson with a Wired Road Authority - regional broadband ¨ network as an effort to provide broadband specific project in mind. connectivity and an “open access” network in our region. No project, regional partnership stalled. § u Re-visited in 2006 at urging of DHCD Regional Grants – ¨ with a focus on Entrepreneurship. Carroll Farmer’s Market – hydro-cooling ¡ u Hired Regional Economic & Fries Volunteer Fire Department ¡ Entrepreneurial Director Grayson Natural Foods – refrigerated truck ¡ u Took over operations of SBDC from Wildwood Commerce Park – regional industrial ¨ park, classified as “Mega-site” (400 jobs, $200M WCC with a focus on Entrepreneurial Investment) by the T obacco Commission Development. 264 acres (100 graded, 154 ungraded) ¡ u Since 2006 – Exit 19, I-77 ¡ Over 1800 Clients § Local investment – Over $5,000,000 New/Expanded Businesses - 331 ¡ § Grant Funds – Over $16,000,000 Business Plans - 461 ¡ § Revenue Sharing between Galax, Carroll County Anticipated Funding - $ 57,985,000 ¡ § and Grayson County on approximately 700 acres. Jobs Created – 1357 § Mega-site will provide potentially $900,000+ in ¡ shared tax revenue for the three participating localities. 5 6 Economic Restructuring – Cultural Heritage Diversification of our tax base Asset-based development – Chestnut Creek School of the Arts ú Located Downtown Music, Cultural Heritage ARC Funds, Anonymous Donation, Historic Tax Credits & T ourism Classes in music, dancing, instruments, JAM, weaving, sewing, painting, carving, jewelry, pottery, stained glass, etc. Music – Felts Park Performance Stage – hosts ú various music and community events. Crooked Road – 2 venues ú (ARC, local funds, Galax Moose Lodge) Rex Theater – live radio broadcast ú Galax Farmers Market – upgraded every Friday night on WBRF 98.1 and ú facilities (USDA RBEG Grant) streaming internet. Fiddlers Convention, 85 th this year, 7 ú day event, approximately 40,000 paid admission. 7 8 2
2/18/20 Tourism Cultural Heritage Full Time Tourism Director since 1998 and a new facility open since 2010. ú Chestnut Creek School of the Arts Woodworking Studio Located Downtown Yearly Events Funding – ARC Houston Fest (May) Ø T obacco Commission Funds Leaf & String Festival (June) USDA Ø Local Contributions Smoke on the Mountain Ø City (donation of property) Barbeque Championship Classes in woodworking, instrument building, furniture, etc. (Virginia Championship, Memphis in May & Kansas City affiliate) (July) Galax Fiddlers Convention Ø (August) Cruise-ins, National Night Ø Out, rodeos, Fireman’s Carnival, etc. Visitors from 48 states and 22 Ø countries Virginia Tourism Corporation – Ø tourism supports over 140 jobs in Galax. 9 10 Local Efforts Diversification of Tax Base “The good and the bad” Galax City Public Schools ¡ Per 2017 Weldon Cooper Center for Public Service, Budget Discussions, Maintain Level Funding Ø Use of Capital Fund Account Ø Refund portion to locality Real Estate Property T ax as source of revenue – § Assist in joint beneficial capital projects § Staffing Cities 55% ú Open positions/ reduction of workforce Ø Assistant City Manager, not rehired Counties 65.4% § ú Reduced Public Works, 36 to 25 § Towns 29.4% ú Police Department, Court, SRO - full time to part time § Reduced WTP and WWTP positions § Reduced Commercial Sanitation/Eliminated dumpster service ú Galax (FY2020 Budget, minus school construction) - § New Positions or Shared Positions Ø Hired Grants Administrator – Since 2011 over $19M in Grants § VDOT, DHCD, ARC, COPS, USDA, MRPDC, etc….. § Real Estate 20.0% o GIS/E911 § Regional Economic Development § § Personal Property 3.5% IT § Fire Department Retention & Recruitment § Utilities/Capital § Sales Tax 12.6% In-house Capital Projects – “What can we do” Ø Revenue § Meals Tax 11.4% Raised Taxes Ø Current Real Estate is $0.845 § Meals tax is 7.5% § § M&T 4.4% Raised Utility Rates Ø Water/Sewer - $58 total ($29 water/$29 sewer) every 2 months § Set to increase July 1, 2020 to $64 § BPOL 5.6% § 11 12 3
2/18/20 Thank You Our Current Efforts Continue the path of traditional economic development – Ø industry recruitment and expansion. Support our current businesses as they grow, with a focus Ø on improved customer service at the local level. Recognize our need to continue diversifying and creating Ø a more stable local economic environment. Provide continuing educational opportunities for our Ø citizens. Continued use and expansion of our cultural heritage and Ø assets. Support, grow, and nurture local Ø entrepreneurs/businesses – they may be the next large employer. 13 14 4
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