EDAMinutes2022July14MINUTES
ECONOMIC DEVELOPMENT AUTHORITY
| THURSDAY, JULY 14, 2022 |
A meeting of the Frederick County Economic Development Authority was held on
Thursday, July 14, 2022, at 8:00A.M. in the County Administration Building, First Floor
Conference Room, 107 North Kent Street, Winchester, Virginia.
PRESENT: Judy McCann‐Slaughter, Rick Till, Susan Brooks, Bryan Fairbanks, and
Doug Rinker. Due to a business commitment, Heather McKay participated
remotely and her participation by this means was approved by the Board
members.
STAFF: Patrick Barker, Wendy May, Shayla Rickard and Donna McIlwee, Frederick
County Economic Development Authority, Jay Tibbs, Deputy County Administrator, and
Michael Bryan, Attorney
MEETING CALLED TO ORDER: Chairman Rinker called the meeting to order at 8:00 a.m.
APPROVAL OF MINUTES
The minutes from the May 5, 2022, meeting were presented.
On motion duly made by Ms. McCann‐Slaughter and seconded by Ms. Brooks, the minutes
were approved by the following recorded vote:
J.Stanley Crockett Absent
Susan Brooks Aye
Bryan Fairbanks Abstain (due to absence at May meeting)
Heather McKay Aye
Doug Rinker Aye
Judy McCann‐Slaughter Aye
Rick Till Aye
TREASURER'S REPORT
Mr. Barker submitted the following reports:
Checking Account ‐ Bank of Clarke County as of April 30, 2022 ‐ $2211.56.
Savings Account ‐ Scott & Stringfellow as of April 30, 2022 ‐ $1,440,817.52.
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Frederick County EDA Meeting Minutes | July 7, 2022
Checking Account ‐ Bank of Clarke County as of May 31, 2022 ‐ $23,384.06.
Savings Account ‐ Scott & Stringfellow as of May 31, 2022 ‐ $1,415,829.59.
Checking Account ‐ Bank of Clarke County as of June 30, 2022 ‐ $19,241.56.
Savings Account ‐ Scott & Stringfellow as of June 30, 2022 ‐ $1,415,998.68.
Ms. McCann‐Slaughter again inquired about checking on different investment
options for the Scott & Stringfellow account in order to earn a higher amount of
interest. Mr. Tibbs and Mr. Barker will investigate and report on their findings at the
next Board meeting.
On motion of Ms. McCann‐Slaughter, seconded by Mr. Fairbanks, the Treasurer's Reports were
approved as submitted by the following recorded vote:
J. Stanley Crockett Absent
Susan Brooks Aye
Bryan Fairbanks Aye
Heather McKay Aye
Doug Rinker Aye
Judy McCann‐Slaughter Aye
Rick Till Aye
TARGET BUSINESS STUDY
Mr. Barker reported this month proceeds with the final step in the Target Industry Analysis
update and staff is providing the partial results from this step for review and comment.
Step 12: Develop value proposition per sector that includes both qualitative and quantitative
attributes specific to Frederick County, VA
Following are the industry segments by sector as previously endorsed by the EDA Board:
Corporate Services
Information Technology
Finance and Insurance
BioScience
Advanced Manufacturing
Food and Beverage
For the purposes of this step, a value proposition refers to the value Frederick County promises
to deliver to companies in each target sector should they choose to locate in Frederick County.
A value proposition is part of Frederick County’s overall marketing strategy. The value
proposition provides a declaration of intent or a statement that introduces Frederick County’s
brand to businesses and site consultants by telling them Frederick County deserves their
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Frederick County EDA Meeting Minutes | July 7, 2022
business. This statement, if worded compellingly, convinces the potential business that a
particular asset(s) and/or offering(s) by Frederick County will add more value or provide a
better solution than competing localities.
Mr. Barker provided the initial results from this step for review and comment but explained he
would like to continue working on this information to confirm the analytical information is
justifiable and asked the Board to approve this step so he can proceed.
On motion of Ms. McCann‐Slaughter, seconded by Ms. McKay, the Board voted to endorse Mr.
Barker’s recommendation and approve the action item as presented today by the following
recorded vote:
J. Stanley Crockett Absent
Susan Brooks Aye
Bryan Fairbanks Aye
Heather McKay Aye
Doug Rinker Aye
Judy McCann‐Slaughter Aye
Rick Till Aye
Doug Rinker Aye
TRANSPORTATION UPDATE
Mr. Barker introduced Mr. Mark Merrill, Commonwealth Transportation Board member, and
several VDOT staff members who made a presentation on the status of improvement plans
related to Interstate 81 and Frederick County roads.
ADJOURN
There being no further business to come before this Authority, the meeting was adjourned at
9:00 a.m.
________________________________ ____________________________
Doug Rinker Jay Tibbs
Chairman Secretary