The mission of the Economic Development Authority (EDA) is to create jobs, maximize the utilization of Norfolk’s real estate, foster business capital investment, increase revenue by growing the tax base, focus on efforts to build on the strengths and the needs of neighborhoods, and support minority and small businesses.
Executive Director of Norfolk EDA
The EDA is a political subdivision of the Commonwealth of Virginia created by the City to acquire, own, lease and dispose of properties to promote industry and induce businesses to locate and remain in Norfolk. The EDA is authorized to issue revenue bonds to finance facilities for non-profits, manufacturers, and businesses in an Enterprise or Empowerment Zone. Neither the EDA nor the City have any liability under the bonds. Liability is assumed by the enterprises for which the facilities are constructed.
Revenue Bonds Issued
Bonds are limited to manufacturing businesses, or businesses in Enterprise / Empowerment Zones, or 501(c)(3) non-profit organizations. Bond qualifications are determined by the Internal Revenue Code.
Board of Directors
- Michael Lee – Chairman
- Antonio L. Sisco- Vice Chairman
- Jeffrey Brooke
- Kim P. Brown
- Jaeson Dandalides
- Linwood Fisher
- Robert E. Garris, Jr.
- Richard H. Ottinger
- Craig Reilly
- Ursula Rhodes
- Carter Smith
EDA Appointed Staff
- Jared Chalk, Executive Director
- Sean Washington, Secretary / Treasurer
- Dawn Ryan, Assistant Secretary / Treasurer