A question often asked by Stafford County citizens: what is the Economic Development Authority? In a nutshell, the Authority implements the economic development goals of the Stafford County Board of Supervisors.
“In recent years, the EDA has worked to adapt to the changing business community needs,” notes EDA chairman Joel Griffin. “With any project, our goals are to promote existing businesses, encourage entrepreneurship in the county, and foster a supportive pro-growth environment.”
“The latest EDA endeavor, the Thompson Avenue project in Falmouth, accomplishes all three,” said Griffin. “We are excited to make this space available to current and future job creators.” 204 Thompson Avenue is a multipurpose commercial building deeded to Stafford County and then transferred to the EDA earlier this year, said EDA member Jack Rowley. The building was in disrepair and under-utilized, Rowley said, but the EDA is “making significant upgrades to the building and it has become an attractive facility for small companies to lease space.”
Rowley said long term, the EDA plans to sell space to small businesses. A lack of parking has been addressed by purchasing adjoining space. The EDA has three tenants, with additional prospects on the horizon. A new commercial broker will be announced soon.
“With EDA leadership, 204 Thompson Avenue is changing from a derelict industrial building to a viable business location in Stafford County,” said Rowley.
“One of the tenants, Olde Town Window Works, has been located at 204 Thompson Avenue since 1995. With the EDA assuming ownership, it has allowed the company, owned by Jonathan Wilken of Falmouth, to continue operating without having to move,” said EDA member Heather Hagerman. Olde Towne is a drapery manufacturer.
“We were very pleased to take over 204 Thompson Avenue,” added Hagerman. “We believe that by using our resources and improving this asset, the EDA will offer small businesses in the County another purchase or sale option and at the same time grow our reserves, allowing the EDA to invest in the Stafford business community.”
To learn more about the EDA and its ongoing projects, visit: https://www.gostaffordva.com/stafford-eda/.
To learn more about 204 Thompson Avenue project, please contact: Steve Schattgen, Coldwell Banker Commercial Elite at (540)785-3376 or [email protected]