Hanover County Quick Facts
Economic Development
- More than 300,000 square feet of new business added in FY06 with 7 new business locations by Department of Economic Development. Six expansions of existing business from July-December 2006 involving 100,000 square feet
- Six Economic Development Zones consisting of 10,562 acres
- Five previous Economic Development Zones created in 2000
- Lewistown Road/I-95
- Sliding Hill Road/I-95
- Chamberlayne Road/Rt. 301/I-295
- Pole Green Road/I-295
- Creighton Road/I-295
- Sixth Economic Development Zone was added in Hickory Hill area as a result of the 2007 Comprehensive Plan Update
- Prior to update, SWOT in 2005 revealed that Hanover had only 1,700 acres available for commercial and industrial development, less than Goochland, Chesterfield and Henrico.
- Northlake Business Park has expanded from 120 acres at its creation six years ago to 580 acres currently – only 13 contiguous acres remaining that are ‘ready to go’
- Total of +700 acres of business-zoned property created since 2000
- Development of Northlake in partnership with County has resulted in extension of North Lakeridge Parkway – ultimately four lanes
- Developer agreements also resulted in +1 million square feet of new business space and over $100 million of new investments and helped attract Bass Pro Shops
- Bass Pro Shops - $350 million investment – within Lewistown EDZ – will result in extension of Lakeridge Parkway to connect with Lakeridge Business Park and create corridor from Kings Acres Road to U.S. 1
- Owens & Minor – Fortune 500 company - $30 million investment – within Chamberlayne EDZ
- Mixed Use District approved by Board in October 2006
- Rutland major mixed use development (202 acres) within Chamberlayne EDZ – about 335 homes and 56 acres of commercial development
Lewistown Commerce Center CDA
- Creates Lewistown Commerce Center Community Development Authority
- Establishes boundaries of CDA District
- Establishes the purposes of the CDA
- Authorizes submission of articles of incorporation to SCC
- Appoints initial members of CDA board
- Requires development of plan of finance utilizing:
- Special real estate tax applicable to properties within the district
- Special assessments levied on properties within the district
- Contributions by County of a portion of incremental tax revenues generated within the district
- Limits the cost of infrastructure improvements to be funded by CDA at $28.5 million
- Affirms that bonds issued by CDA will not be a debt or obligation of the county
- Repayment of debt will be made exclusively from a portion of the increased tax revenues from properties in Lewistown Commerce Center and a special assessment on properties in Lewistown Commerce Center
“Business First” program
Business outreach program represents a partnership between Hanover County and other local governments that collaborate on regional development efforts with the Greater Richmond Partnership Inc.
- Supported by the Greater Richmond Chamber, members of the Hanover Business Council, and volunteer business people from throughout the community.
- Comprehensive business intelligence gathering system
- Face to face interviews
- Hanover-specific data
Having this type of information allows the Economic Development office to assist these companies with the County’s processes.
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