Reports
Charlottesville Pavilion Economic Impact Study Released
The Charlottesville Economic Development Authority recently commissioned an economic impact study of the Charlottesville Pavilion. The study seeks to understand the economic and fiscal impact of the pavilion, in the city, based on 2022 data. The study was conducted by Chmura Economics and Analytics of Richmond, VA.
City of Charlottesville Retail Storefront Vacancy Report - January 2023
The City of Charlottesville's thirtieth vacancy study has been completed by the Office of Economic Development. This biannual report was conducted in January 2023. The overall vacancy rate of the six major shopping centers in Charlottesville is 4.01%, which is a decrease from the July 2022 study (7.21%).
Office of Economic Development Annual Report 2022
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2022 as we continue to strive to fulfill our mission as a catalyst for the economy.
- 2022 Annual Report (Not support in Internet Explorer.)
City of Charlottesville Retail Storefront Vacancy Report - July 2022
The City of Charlottesville's twenty ninth vacancy study has been completed by the Office of Economic Development. This biannual report was conducted in July 2022. The overall vacancy rate of the major shopping centers in Charlottesville is 7.21%.
City of Charlottesville Retail Storefront Vacancy Report - January 2022
The City of Charlottesville’s twenty eighth vacancy study has been completed by the Office of Economic Development. This biannual report was conducted in January 2022. The overall vacancy rate of the major shopping centers in Charlottesville is 5.23%. These indicators suggest that the retail storefronts in Charlottesville are steadily recovering from the economic stress caused by the COIVD-19 pandemic.
Office of Economic Development Annual Report 2021
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2021 as we continue to strive to fulfill our mission as a catalyst for the economy.
- 2021 Annual Report (Not supported in Internet Explorer.)
City of Charlottesville Retail Storefront Vacancy Report - July 2021
Charlottesville’s biannual vacancy study was completed in July 2021. This was the twenty seventh study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. As noted, the overall vacancy rate of the major shopping centers in Charlottesville is 5.31%. These indicators suggest the retail situation in Charlottesville is showing improvements from the economic stress caused by the COVID-19 pandemic.
City of Charlottesville Retail Storefront Vacancy Report - January 2021
Charlottesville’s biannual vacancy study was completed in January 2021. This was the twenty sixth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. As noted, the overall vacancy rate of the major shopping centers in Charlottesville is 7.66%. These indicators suggest the retail situation in Charlottesville is experiencing impacts from the economic stress caused by the COVID-19 pandemic since March 2020.
Office of Economic Development Annual Report 2020
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2020 as we continue to strive to fulfill our mission as a catalyst for the economy.
- 2020 Annual Report (Not supported in Internet Explorer.)
City of Charlottesville Retail Storefront Vacancy Rate - July 2020
Charlottesville’s biannual vacancy study was completed in July 2020. This was the twenty fifth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. As noted, the overall vacancy rate of the major shopping centers in Charlottesville is 6.95%. These indicators suggest the retail situation in Charlottesville is experiencing impacts from the economic stress caused by the COVID-19 pandemic in the last several months.
City of Charlottesville Retail Storefront Vacancy Rate - January 2020
Charlottesville’s biannual vacancy study was completed in January 2020. This was the twenty fourth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 4.44% (20 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
Office of Economic Development Annual Report 2019
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2019 as we continue to strive to fulfill our mission as a catalyst for the economy.
- 2019 Annual Report (Not supported in Internet Explorer.)
City of Charlottesville Retail Storefront Vacancy Rate - July 2019
Charlottesville's biannual vacancy study was completed in July 2019. This was the twenty third study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 4.09% (18 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - January 2019
Charlottesville’s biannual vacancy study was completed in January 2019. This was the twenty second study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 4.47% (20 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
Office of Economic Development Annual Report 2018
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2018 as we continue to strive to fulfill our mission as a catalyst for the economy.
City of Charlottesville Retail Storefront Vacancy Rate - July 2018
Charlottesville’s biannual vacancy study was completed in July 2018. This was the twenty first study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 2.49% (11 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - January 2018
Charlottesville’s biannual vacancy study was completed in January 2018. This was the twentieth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 1.11% (5 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - July 2017
Charlottesville’s biannual vacancy study was completed in July 2017. This was the nineteenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 2.44% (11 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - January 2017
Charlottesville’s biannual vacancy study was completed in January. This was the eighteenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 1.78% (9 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
Office of Economic Development Annual Report 2016
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2016 as we continue to strive to fulfill our mission as a catalyst for the economy.
City of Charlottesville Retail Storefront Vacancy Rate - July 2016
Charlottesville’s biannual vacancy study was completed in July 2016. This was the seventeenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 3.34% (15 vacancies), Charlottesville continues to demonstrate a stable retail property environment. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - January 2016
Charlottesville’s biannual vacancy study was completed in January 2016. This was the sixteenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 3.31% (15 vacancies), Charlottesville continues to demonstrate a stable retail property environment. This is significantly lower than the July 2015 rate of 5.43%. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
Office of Economic Development Annual Report 2015
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2015 as we continue to strive to fulfill our mission as a catalyst for the economy.
City of Charlottesville Retail Storefront Vacancy Rate - July 2015
Charlottesville’s biannual vacancy study was completed in July 2015. This was the fifteenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 5.43% (25 vacancies), Charlottesville continues to demonstrate a stable retail property environment. This is slightly higher than the January 2015 rate of 3.91%. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - January 2015
Charlottesville’s biannual vacancy study was completed in January 2015. This was the fourteenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 3.91% (18 vacancies), Charlottesville continues to demonstrate a stable retail property environment. This is slightly higher than the July 2014 rate of 3.25%. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
Office of Economic Development Annual Report 2014
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2014 as we continue to strive to fulfill our mission as a catalyst for the economy.
City of Charlottesville Retail Storefront Vacancy Rate - July 2014
Charlottesville’s biannual vacancy study was completed in July 2014. This was the thirteenth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 3.25% (15 vacancies), Charlottesville continues to demonstrate a stable retail property environment. The overall vacancy rate of the major shopping centers in Charlottesville is 3.25%. This is lower than the January 2014 rate of 3.28%. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
City of Charlottesville Retail Storefront Vacancy Rate - January 2014
Charlottesville’s biannual vacancy study was completed in January 2014. This was the twelfth study in a series of semi-annual reports prepared by the Office of Economic Development, starting in July 2008. With an overall retail vacancy rate of 3.28% (15 vacancies), Charlottesville continues to demonstrate a stable retail property environment. The overall vacancy rate of the major shopping centers in Charlottesville is 3.28%. This is lower than the July 2013 rate of 3.78%, and slightly higher than the January 2012 rate of 2.88%. These indicators suggest that the retail situation in Charlottesville is stable, as empty storefronts in general do not stay vacant for long periods of time.
Office of Economic Development Annual Report 2013
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2013 as we continue to strive to fulfill our mission as a catalyst for the economy.
Office of Economic Development Annual Report 2012
The Office of Economic Development (OED) is pleased to provide this update on our activities from 2012 as we continue to strive to fulfill our mission as a catalyst for the economy.
City of Charlottesville Office and Retail Market Study
Recently the Office of Economic Development and the Charlottesville Economic Development Authority retained HR&A Advisors to conduct a market study of the office and retail space in the city. The study is intended to serve as a source of foundational data and information to guide future actions.
Office of Economic Development Local Construction Guide
With several construction projects underway and more planned for the future, the OED has created a guide for local businesses to use during construction projects. This Construction Guide serves as a proactive tool for businesses facing large construction projects near their business location. The goal of the guide is to be a source of planning, offering strategies, and information to implement so that business owners can maintain customers, protect access, and successfully manage their business during the construction process.
2015 Business Survey Report Executive Summary
The OED has completed its comprehensive 2015 City of Charlottesville Business Survey and released the accompanying Executive Summary. A few highlights of this year’s key findings are:
• 58.5% of businesses indicated 2014 sales were up when compared to 2013 sales
• 82.4% of businesses do not have difficulties retaining employees
• 83.0% of businesses plan to hire full-time workers in the next year
• 86.7% of businesses believe that their future sales and business prospects will be either excellent or good
The 2015 Business Survey was the third installment in a series of biennial surveys. In 2011, the OED began conducting a survey of City businesses to assess perceptions of the business climate and determine the needs of City business owners.
Growing Opportunity Update Released
The City of Charlottesville has made significant progress towards many of the workforce development action items in the Growing Opportunity: A Path to Self-Sufficiency report, which was presented to City Council in July 2013. A 2014 annual update providing an overview of these accomplishments is available online:
Strategic Action Team Report
The Strategic Action Team (SAT) has finalized a comprehensive report entitled Growing Opportunity: A Path to Self-Sufficiency in Charlottesville. This report includes an overview of the workforce climate, barriers to employment, and recommendations of the team.
The SAT was formed at City Council’s request in 2012 to examine workforce development opportunities for Charlottesville residents. The working group was comprised of twelve representatives from five City departments.
The report was presented to City Council at a work session on Thursday July 11th.
Arts Impact in The Greater Charlottesville Area
Arts & Economic Prosperity IV (AEPIV) is the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States. AEPIV was conducted by Americans for the Arts, the nation’s leading nonprofit organization for advancing the arts and arts education in partnership with Piedmont Council for the Arts.
As one of 182 study partners across all 50 states and the District of Columbia, PCA facilitated the gathering of detailed economic and event attendance data from study partner nonprofit arts and culture organizations located throughout Charlottesville and Albemarle. In addition, PCA collaborated with the community’s other arts organizations to collect approximately 2,000 surveys from at least 900 arts and culture event attendees in Charlottesville and Albemarle during 2011.
According to data from the study, the arts and culture industry generates $114.4 million in annual economic activity in the Charlottesville area, supporting 1,921 full-time equivalent jobs and generating $9.2 million in local and state government revenues.
Target Markets Report
In 2012, the Thomas Jefferson Partnership for Economic Development released this report to help better understand the current industry groups present in the regional economy and to identify future targets for appropriate growth. Target industry groups were identified for each locality in the TJPED region.
High-Technology Sector Economic Impact Analysis
Some highlights of the report include:
- The tech sector includes some 11,700 jobs spread across 640 firms in our metro area with average wages of $65,000. This is nearly 70% greater than the average salary of $39,000 in our area.
- 3,000 of those jobs are at 270 companies located in the City! Said another way - 42% of the tech companies in the MSA are in the City.
- The Tech sector has a total economic impact of $4.4 billion annually (this includes direct, indirect and induced spending).
- $182 million in state and local tax revenue are generated from the high tech sector annually.
- High-Technology Sector Economic Impact Analysis report
Economic Development Market Study
This report was developed by Economics Research Associates (ERA), which was retained by Martha Jefferson Hospital to advise on the development potential for the 13.6 acre site in Downtown Charlottesville. It provides a market analysis for key land uses (residential, hotel/conference center, retail, office, and research and development) and an analysis of redevelopment opportunities. The site will become vacant when the Hospital moves to Route 250 in Albemarle County by the year 2012.