2024 ANNUAL REPORT
Highlights in Economic Development
From creative financing solutions to help community organizations to big possibilities in Potomac Yard, AEDP spent the last year working with partners throughout the City to bring opportunity to Alexandria.
Ready for a deep dive into all our work this year?
Big Improvements for Small Business
AEDP Small Business launched new services, renewed programming, and a concerted effort to reach out to all entrepreneurs in Alexandria, resulting in new successes and profiles of some amazing ALX institutions.
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A YEAR IN PHOTOS
Showcasing a year full of ribbon-cuttings and other successes in Alexandria!
MEET THE TEAM
Cristina Amoruso
Director of Small Business & Entreprenurship
Talia Jones
Small Business Client Services Coordinator
Marian Marquez
Senior Vice President
The AEDP team has changed significantly over the past few years. In 2023 Cristina, Talia, and Marian all joined the team in important, community-facing roles. Learn more about them and the rest of our group dedicated to bringing opportunity to Alexandria.
2023-24 BY THE NUMBERS
$535k
AWARDED IN SEED FUNDING TO 8 BUSINESS ASSOCIATIONS
15.5%
COMPARED WITH 19.8% REGIONALLY
Q2, 2024
#1
BEST STATE FOR BUSINESS
CNBC, 2024, for a record 6th time
EVALUATING ECONOMIC DEVELOPMENT PROJECTS
Because AEDP is charged with evaluating and negotiating economic development proposals, often before they become public, we follow a set of values and principles to help guide our work. As we seek out or consider potential commercial uses that are viable in a post-pandemic world we:
AEDP Values
We prioritize relationships.
We are invested in our City.
We are accountable to our community.
We thrive on innovation.
We respect everyone.
Economic Development Principles
• Evaluate the base case and market reality.
• Check for alignment with Small Area Plans and the community vision for development.
• Compare the fiscal and economic impacts of opportunity to those of the base case.
• Seek and secure commitments from any project partners
• Incentivize and invest in the community.
2023-24 BUSINESS INVESTMENT PROJECTS
While the Monumental project represents a once-in-a-lifetime economic development opportunity, AEDP’s team is constantly at work cultivating a strong pipeline of projects, both large and small, across a range of industries. Efforts to attract and retain companies in Alexandria support AEDP’s overall mission to enhance the City’s tax base and increase employment opportunities.
LETTER FROM THE CEO
“For the past few years, as the pandemic turned life and
business upside down and our community reckoned with
longstanding racial and socioeconomic divides, AEDP took
the time to listen and learn, participating in comprehensive
city-wide policy and strategy conversations. As a city-funded
organization, AEDP’s directives are a reflection
of the strategic priorities adopted by the Mayor and City
Council. The City provides the blueprint, and AEDP executes
with clear goals and outcomes as guides, to create and
encourage economic activity in Alexandria.”
EVENT RECAP
Photo Credit: Laura Hatcher Photography