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Home My WebLink AboutEDAAgenda2026February5ECONOMIC DEVELOPMENT AUTHORITY | TUESDAY, FEBRUARY 5TH | | 8:00 AM | COUNTY ADMINISTRATION BUILDING @ FIRST FLOOR CONFERENCE ROOM 107 KENT STREET WINCHESTER, VA 1.Call to Order 2.Partner Showcase – Small Business Development Center • Presentation by EDA partners, Small Business Development Center, to include an overview of their operations and activities and how they interact with the EDA. 3.Annual Meeting || ACTION •Election of Chair, Vice Chair, Secretary, and Treasurer and establish day, time, and location for its regular meetings (First Thursdays of each month at 8:00 am, 107 North Kent Street) • 4.Approval of Minutes – November 7, 2025 & December 4, 2025|| ACTION •Review and approval of minutes from last meeting, if appropriate 5.Treasurer’s Report || ACTION •Review and approval of latest Treasurer’s Report, if appropriate 6.Remote Meeting Policy || ACTION •Annual review and update of the remote meeting policy 7.Large Project Ready Sites Strategy || DISCUSSION •Discussion on strategy to increase the availability of large project ready sites to facilitate new development and support larger scale projects. 8.Joint Meeting with Board of Supervisors Preparation || DISCUSSION •Discussion of presentation for annual meeting with the Frederick County Board of Supervisors 9.Such other business as may come before this Authority DATE: January 30, 2026 TO: Board of Directors, Frederick County Economic Development Authority FROM: Patrick Barker, CEcD Executive Director CC: Jay Tibbs Deputy County Administrator RE: EDA Partner Showcase || Small Business Development Center EDA partners are invited to present to the EDA Board on a regular basis, providing an overview of their operations, key activities, and the ways in which they collaborate with the Authority. The Laurel Ridge Small Business Development Center (SBDC) plays a vital role in supporting entrepreneurs as they start, grow, and transition their small businesses. Their services include seminars, one-on-one business counseling, operational audits, a mystery shopper program, mentoring, and focus groups. The SBDC offers expertise in accounting, finance, retail, marketing and social media, distribution, website development and evaluation, government contracting, human resources, and operational efficiency. They also assist clients pursuing grants, bank loans, lines of credit, SBA guaranteed loans, and financing through the Virginia Small Business Finance Authority. Each year, the Frederick County EDA provides $48,000 from its general fund allocation to support the SBDC and its bilingual programming. In 2025, with the EDA’s support, the Laurel Ridge SBDC worked with 163 Frederick County clients, delivering nearly 500 hours of individualized business advising. These efforts generated an estimated $2.5 million in economic activity, supported the launch of 10 new small businesses, and contributed to 31 new jobs in the county. Their work focused on startup development, business expansion, and strategic growth planning aligned with Frederick County’s targeted industry sectors. Andy Gyurisin, Director of the SBDC, will provide the presentation. Frederick County Small Business Impact Laurel Ridge SBDC • FY 2024–2026 Snapshot FY 2024–2025 Frederick County Results 122 Clients Served $2.45M Capital Formation 6 New Business Starts 26 Jobs Created / 8 Retained 370 Hours of Counseling FY 2025–2026 Progress Frederick County Results 37 Clients Served 3 SL Clients Served 4 New Business Starts 5 Jobs Created / 5 Retained 141 Hours Advising Clients Spanish-Language Business Support 98 Spanish-speaking Businesses Served Regionally (FY24–25) Frederick County: 36 Clients, 1 New Business Start 2 Jobs Created + Nearly $25K Economic Impact Microloans = Local Growth Opportunity Small-dollar loans help Frederick County entrepreneurs purchase equipment, expand services, build credit, and create jobs quickly. The SBDC prepares businesses to become loan-ready and connect with lenders. Thank you for Frederick County’s continued support of small business success. DATE: January 30, 2026 TO: Board of Directors, Frederick County Economic Development Authority FROM: Patrick Barker, CEcD Executive Director CC: Jay Tibbs Deputy County Administrator RE: Annual Meeting The EDA Bylaws call for an annual meeting prior to March 1 of each year. Officers are elected at this time. Officers of the Authority currently include a Chair (Rick Till), a ViceChair (Vacant) and Secretary/Treasurer (Jay Tibbs). Chair and Vice Chair are selected from the membership, whereas, the Secretary and Treasurer, or a SecretaryTreasurer, can be from the membership or not, as the EDA Board desires. Article 3 of the bylaws provides a description of the positions. • The Chair shall preside at all meetings of the Authority; shall be responsible for notice of meetings to the Directors and officers of the Authority; shall be responsible for all correspondence; shall make committee appointments; may appoint members of the Authority as liaison to any other governmental agencies; authorities and commissions; shall act as signatory on behalf of the Authority when authorized; and shall perform such other duties as are incident to his office or may properly be required of him by the Board of Directors. • The ViceChair shall, in the absence of the Chair, exercise all of the Chair's powers and duties. In the event the office of Chair shall become vacant, the ViceChair shall immediately become the Chair. • The Secretary shall transcribe detailed minutes of every meeting or proceeding of the Authority; shall issue notices for all meetings; shall keep the seal of the Authority and all books and records of the Authority; and shall perform such other duties as may be directed by the Board of Directors. • The Treasurer shall have the custody of all funds and securities of the Authority and shall deposit the same in the name of the Authority in such bank or banks as the Directors may from time to time determine; shall sign all checks, drafts, notes and orders for the payment of moneys and shall pay out and dispose of the same under the direction of the Chair. MINUTES ECONOMIC DEVELOPMENT AUTHORITY | THURSDAY, NOVEMBER 7, 2025 | A meeting of the Frederick County Economic Development Authority was held on Thursday, November 7, 2025, at 8:00 a.m. in the County Administration Building, 1st Floor Conference Room, 107 N. Kent Street, Winchester, Virginia. PRESENT: Diane Kearns, Rick Till, Gary Lofton, Judy McCann-Slaughter, Bryan Fairbanks and Christine Kriz. Board member Tina Murphy participated remotely for a medical reason and her participation was approved by those present. STAFF: Patrick Barker, Wendy May, Shayla Rickard, and Donna McIlwee, Frederick County Economic Development Authority; Jay Tibbs, Assistant County Administrator; and Michael Bryan, EDA Attorney. MEETING CALLED TO ORDER: Chairman Till called the meeting to order at 8:00 a.m. APPROVAL OF MINUTES The minutes of the October 9, 2025, meeting were presented. On motion duly made by Ms. McCann-Slaughter and seconded by Mr. Fairbanks, the minutes were approved as presented by the following recorded vote: Bryan Fairbanks Aye Diane Kearns Aye Christine Kriz Aye Gary Lofton Aye Judy McCann-Slaughter Aye Tina Murphy Aye Rick Till Aye TREASURER'S REPORT Mr. Barker submitted the following report: Checking Account - Bank of Clarke as of September 30, 2025 - $4222.72 Intrafi Account – Bank of Clarke as of September 30, 2025 - $3,248,498.99 - 2 - On motion of Ms. McCann-Slaughter, seconded by Mr. Lofton, the Treasurer’s Report was approved by the following recorded vote: Bryan Fairbanks Aye Diane Kearns Aye Christine Kriz Aye Gary Lofton Aye Judy McCann-Slaughter Aye Tina Murphy Aye Rick Till Aye EDA STRATEGY FY 27 Mr. Barker presented a draft Strategy for 2026-27, which included revisions/comments received from Board members. He stated that, at our annual joint meeting with the BOS, we will aim for more in-depth direction from them. Mr. Fairbanks asked if the BOS has provided any guidance regarding data centers. Mr. Barker stated that the Planning Commission will be reporting on different factors concerning data centers to the BOS at their meeting in December. After that, the EDA will present a series of community information meetings. Ms. McCann-Slaughter made a motion to approve the Strategy as presented until we have the joint BOS meeting. This was seconded by Ms. Kriz and approved by the following recorded vote: Bryan Fairbanks Aye Diane Kearns Aye Christine Kriz Aye Gary Lofton Aye Judy McCann-Slaughter Aye Tina Murphy Aye Rick Till Aye EDA BUDGET FY27 Mr. Barker presented the draft FY27 EDA budget and stated the proposed plan is strategically aligned to advance our core priorities and designed to sharpen Frederick County’s competitive edge by addressing critical factors that influence corporate location decisions. The funding request total is $2122 higher than last fiscal year, reflecting a 0.3% increase over the prior year. Staff is seeking the Authority’s comments and recommendation for forwarding the FY27 budget request, if appropriate. - 3 - Mr. Fairbanks asked if salary increases were reflected in the budget or if that comes from elsewhere. Mr. Barker stated the proposed budget reflects current salaries and any increase comes from the County. On motion of Mr. Fairbanks, seconded by Ms. Kriz, the FY27 budget as presented was approved for submission by the following recorded vote: Bryan Fairbanks Aye Diane Kearns Aye Christine Kriz Aye Gary Lofton Aye Judy McCann-Slaughter Aye Tina Murphy Aye Rick Till Aye RESOLUTION OF APPRECIATION TO STAN CROCKETT Mr. Barker presented a Resolution of Appreciation honoring Stan Crockett for his long and dedicated service to the Frederick County Economic Development Authority and asked that the Board adopt the Resolution. On motion of Ms. McCann-Slaughter, seconded by Ms. Kearns, the Resolution was adopted by the following recorded vote: Bryan Fairbanks Aye Diane Kearns Aye Christine Kriz Aye Gary Lofton Aye Judy McCann-Slaughter Aye Tina Murphy Aye Rick Till Aye LARGE PROJECT READY SITES CONCEPT – CURRENT STATUS Mr. Barker reported the previously mentioned partnership for another large land bay by a prospective purchaser remains active. While contract discussions are occurring, staff has discussed the site with VEDP representatives to gauge the potential of a Virginia Business Ready Site Grant application. SALARY SONAR DEMONSTRATION Mr. Barker provided a demonstration of Salary Sonar, a real-time compensation benchmarking tool integrated within Chmura’s JobsEQ platform of which the EDA has been a long-standing - 4 - user. It draws on millions of active job postings daily to provide up-to-date wage insight. Using AI, it connects job descriptions, required skills, and locations with accurate pay benchmarks. Users, like the EDA, are able to explore pay ranges, trends over time, and comparisons across geographies. He stated the HR team at HP Hood is reviewing this tool and the HR team at Trex will also be asked to review. SUCH OTHER BUSINESS AS MAY COME BEFORE THIS AUTHORITY Mr. Lofton asked that a copy of the Planning Commission’s presentation to the BOS regarding data centers be shared with the EDA Board. Ms. Kearns stated there are things happening in the County that could drive economic development in the future that the EDA Board should be kept abreast of—also general rezonings. Mr. Barker will look at a way to keep the EDA Board updated on these topics. ADJOURN There being no further business to come before this Authority, the meeting was adjourned at 8:40 a.m. ________________________________ ____________________________ Richard Till Jay Tibbs Chairman Secretary MINUTES ECONOMIC DEVELOPMENT AUTHORITY | THURSDAY, DECEMBER 4, 2025 | A meeting of the Frederick County Economic Development Authority was held on Thursday, December 4, 2025, at 8:00 a.m. in the County Administration Building, 1st Floor Conference Room, 107 N. Kent Street, Winchester, Virginia. PRESENT: Diane Kearns, Rick Till, Judy McCann-Slaughter, Bryan Fairbanks and Christine Kriz. Board member Tina Murphy participated remotely for a medical reason and her participation was approved by those present. STAFF: Patrick Barker, Wendy May, Shayla Rickard, and Donna McIlwee, Frederick County Economic Development Authority; Jay Tibbs, Assistant County Administrator; and Michael Bryan, EDA Attorney. MEETING CALLED TO ORDER: Chairman Till called the meeting to order at 8:00 a.m. PARTNER SHOWCASE – VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP (VEDP) Mr. Barker introduced Adam Watkins, Assistant VP, Economic Competitiveness, VEDP, and Vince Barnett, Industry Leader, Data Centers, VEDP. Mr. Watkins then presented an overview of VEDP operations and activities and how they interact with the EDA. Mr. Barnett presented an overview of data centers. Board members were then given an opportunity to ask questions. ADJOURN There being no further business to come before this Authority, the meeting was adjourned at 9:15 a.m. ________________________________ ____________________________ Richard Till Jay Tibbs Chairman Secretary TREASURER'S REPORT SYNOPSIS ECONOMIC DEVELOPMENT AUTHORITY December 31, 2025 BANK OF CLARKE COUNTY Beginning Bank Statement Balance - as of November 30, 2025 $26,784.22 Total Deposits $13,750.00 Total Disbursements -$24,414.00 BANK STATEMENT BALANCE AS OF December 31, 2025 $16,120.22 BANK OF CLARKE - INTRAFI ACCOUNT Beginning Bank Statement Balance - as of November 30, 2025 $3,330,073.86 Total Deposits $7,793.80 Total Disbursements $0.00 BANK STATEMENT BALANCE AS OF December 31, 2025 $3,337,867.66 TREASURER'S REPORT ECONOMIC DEVELOPMENT AUTHORITY December 31, 2025 BANK OF CLARKE COUNTY Beginning Bank Statement Balance - as of November 30, 2025 $26,784.22 Deposits 12/29/2025 City of Winchester (Bond Admin Fee - Westminster- Canterbury - County Share) $13,750.00 TOTAL DEPOSITS $13,750.00 Disbursements 1646 11/21/2025 Michael L. Bryan (Legal Fees) -$414.00 1647 11/21/2025 Laurel Ridge Community College - Workforce Solutions -$24,000.00 TOTAL DISBURSEMENTS -$24,414.00 BANK STATEMENT BALANCE AS OF December 31, 2025 $16,120.22 TREASURER'S REPORT ECONOMIC DEVELOPMENT AUTHORITY December 31, 2025 BANK OF CLARKE - INTRAFI ACCOUNT Beginning Bank Statement Balance - as of November 30, 2025 $3,330,073.86 Deposits 12/31/2025 Interest $7,793.80 TOTAL DEPOSITS $7,793.80 Disbursements TOTAL DISBURSEMENTS $0.00 BANK STATEMENT BALANCE AS OF December 31, 2025 $3,337,867.66 ** $1,907,000 represents proceeds from the sale of the Robinson School properties. Contact Us Account Date 12/31/2025 Page 1 of 2 IntraFi Cash ServiceSM, or ICS®, Monthly Statement The following information is a summary of activity in your account(s) for the month of December 2025 and the list of FDIC-insured institution(s) that hold your deposits as of the date indicated. These deposits have been placed by us, as your agent and custodian, in deposit accounts through IntraFi Cash Service. Funds in your deposit accounts at the FDIC-insured institutions at which your funds have been placed will be "deposits," as defined by federal law. Certain conditions must be satisfied for "pass-through" FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi's network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Summary of Accounts Account ID Deposit Option Interest Rate Opening Balance Ending Balance Demand 2.64%$3,330,073.86 $3,337,867.66 TOTAL $3,330,073.86 $3,337,867.66 CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. !MrHT"O|iRB(O+ aNFj6r{"6HE6OV '%EYiQ7!My6'y)-+ AAAAAAAAAAAAAAAAAAAAAA Bank of Clarke PO Box 391 Berryville, VA 22611 Economic Development Authority of the Co 00000 RETURN SERVICE REQUESTED DETAILED ACCOUNT OVERVIEW Account ID: Account Title: Account Summary - Demand Statement Period 12/1-12/31/2025 Average Daily Balance $3,330,325.27 Previous Period Ending Balance $3,330,073.86 Interest Rate at End of Statement Period 2.64% Total Program Deposits 0.00 Annual Percentage Yield Earned 2.79% Total Program Withdrawals (0.00) YTD Interest Paid 103,380.84 Interest Capitalized 7,793.80 Current Period Ending Balance $3,337,867.66 Account Transaction Detail Date Activity Type Amount Balance 12/31/2025 Interest Capitalization $7,793.80 $3,337,867.66 Summary of Balances as of December 31, 2025 FDIC-Insured Institution City/State FDIC Cert No.Balance BOKF, National Association Tulsa, OK $119,501.15 Cadence Bank Tupelo, MS 247,578.09 Citizens Bank, National Association Providence, RI 247,578.09 Customers Bank Malvern, PA 247,429.44 First United Bank and Trust Company Durant, OK 247,578.08 First-Citizens Bank & Trust Company Raleigh, NC 247,578.09 Flagstar Bank, N.A.Hicksville, NY 247,578.09 Raymond James Bank St. Petersburg, FL 247,578.09 The Huntington National Bank Columbus, OH 247,578.09 UMB Bank, National Association Kansas City, MO 247,578.09 United Bank Fairfax, VA 247,578.09 Valley National Bank Morristown, NJ 247,578.09 Western Alliance Bank Phoenix, AZ 247,578.09 Zions Bancorporation, N. A.Salt Lake City, UT 247,578.09 Date 12/31/2025 Page 2 of 2 CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. TREASURER'S REPORT SYNOPSIS ECONOMIC DEVELOPMENT AUTHORITY November 30, 2025 BANK OF CLARKE COUNTY Beginning Bank Statement Balance - as of October 31, 2025 $3,371.22 Total Deposits $25,000.00 Total Disbursements -$1,587.00 BANK STATEMENT BALANCE AS OF November 30, 2025 $26,784.22 BANK OF CLARKE - INTRAFI ACCOUNT Beginning Bank Statement Balance - as of October 31, 2025 $3,347,137.15 Total Deposits $7,936.71 Total Disbursements -$25,000.00 BANK STATEMENT BALANCE AS OF November 30, 2025 $3,330,073.86 TREASURER'S REPORT ECONOMIC DEVELOPMENT AUTHORITY November 30, 2025 BANK OF CLARKE COUNTY Beginning Bank Statement Balance - as of October 31, 2025 $3,371.22 Deposits 11/20/2025 Transfer from IntraFi Account $25,000.00 TOTAL DEPOSITS $25,000.00 Disbursements 1645 10/30/2025 Michael L. Bryan (Legal Fees) -$1,587.00 TOTAL DISBURSEMENTS -$1,587.00 BANK STATEMENT BALANCE AS OF November 30, 2025 $26,784.22 TREASURER'S REPORT ECONOMIC DEVELOPMENT AUTHORITY November 30, 2025 BANK OF CLARKE - INTRAFI ACCOUNT Beginning Bank Statement Balance - as of October 31, 2025 $3,347,137.15 Deposits 11/30/2025 Interest $7,936.71 TOTAL DEPOSITS $7,936.71 Disbursements 11/20/2025 Transfer to Bank of Clarke Account -$25,000.00 TOTAL DISBURSEMENTS -$25,000.00 BANK STATEMENT BALANCE AS OF November 30, 2025 $3,330,073.86 ** $1,907,000 represents proceeds from the sale of the Robinson School properties. Contact Us Account Date 11/30/2025 Page 1 of 2 IntraFi Cash ServiceSM, or ICS®, Monthly Statement The following information is a summary of activity in your account(s) for the month of November 2025 and the list of FDIC-insured institution(s) that hold your deposits as of the date indicated. These deposits have been placed by us, as your agent and custodian, in deposit accounts through IntraFi Cash Service. Funds in your deposit accounts at the FDIC-insured institutions at which your funds have been placed will be "deposits," as defined by federal law. Certain conditions must be satisfied for "pass-through" FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi's network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Summary of Accounts Account ID Deposit Option Interest Rate Opening Balance Ending Balance Demand 2.88%$3,347,137.15 $3,330,073.86 TOTAL $3,347,137.15 $3,330,073.86 CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. !MrHT"O|i`1f<M+ yBFj6qt%nJLV '%E^kK'I 2u/Tcqi7mL+ AAAAAAAAAAAAAAAAAAAAAA Bank of Clarke PO Box 391 Berryville, VA 22611 Economic Development Authority of the Co 00000 RETURN SERVICE REQUESTED DETAILED ACCOUNT OVERVIEW Account ID: Account Title: Account Summary - Demand Statement Period 11/1-11/30/2025 Average Daily Balance $3,336,568.37 Previous Period Ending Balance $3,347,137.15 Interest Rate at End of Statement Period 2.88% Total Program Deposits 0.00 Annual Percentage Yield Earned 2.93% Total Program Withdrawals (25,000.00) YTD Interest Paid 95,587.04 Interest Capitalized 7,936.71 Current Period Ending Balance $3,330,073.86 Account Transaction Detail Date Activity Type Amount Balance 11/18/2025 Withdrawal ($25,000.00)$3,322,137.15 11/28/2025 Interest Capitalization 7,936.71 3,330,073.86 Summary of Balances as of November 30, 2025 FDIC-Insured Institution City/State FDIC Cert No.Balance BOKF, National Association Tulsa, OK $111,675.21 Cadence Bank Tupelo, MS 247,587.69 Citizens Bank, National Association Providence, RI 247,384.37 Customers Bank Malvern, PA 247,578.96 First United Bank and Trust Company Durant, OK 247,558.46 First-Citizens Bank & Trust Company Raleigh, NC 247,587.69 Flagstar Bank, N.A.Hicksville, NY 247,587.69 Raymond James Bank St. Petersburg, FL 247,587.69 The Huntington National Bank Columbus, OH 247,587.69 UMB Bank, National Association Kansas City, MO 247,587.65 United Bank Fairfax, VA 247,587.69 Valley National Bank Morristown, NJ 247,587.69 Western Alliance Bank Phoenix, AZ 247,587.69 Zions Bancorporation, N. A.Salt Lake City, UT 247,587.69 Date 11/30/2025 Page 2 of 2 CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. TREASURER'S REPORT SYNOPSIS ECONOMIC DEVELOPMENT AUTHORITY October 31, 2025 BANK OF CLARKE COUNTY Beginning Bank Statement Balance - as of September 30, 2025 $4,222.72 Total Deposits $92,495.00 Total Disbursements -$93,346.50 BANK STATEMENT BALANCE AS OF October 31, 2025 $3,371.22 BANK OF CLARKE - INTRAFI ACCOUNT Beginning Bank Statement Balance - as of September 30, 2025 $3,248,498.99 Total Deposits $98,638.16 Total Disbursements $0.00 BANK STATEMENT BALANCE AS OF October 31, 2025 $3,347,137.15 TREASURER'S REPORT ECONOMIC DEVELOPMENT AUTHORITY October 31, 2025 BANK OF CLARKE COUNTY Beginning Bank Statement Balance - as of September 30, 2025 $4,222.72 Deposits 10/7/2025 Bond Admin Fees (TVOR Phases 1 & 2 and TLNA) $92,495.00 TOTAL DEPOSITS $92,495.00 Disbursements 1644 9/29/2025 Michael L. Bryan (Legal Fees) -$3,346.50 10/23/2025 Transfer to IntraFi (Bond Admin Fees) -$90,000.00 TOTAL DISBURSEMENTS -$93,346.50 BANK STATEMENT BALANCE AS OF October 31, 2025 $3,371.22 TREASURER'S REPORT ECONOMIC DEVELOPMENT AUTHORITY October 31, 2025 BANK OF CLARKE - INTRAFI ACCOUNT Beginning Bank Statement Balance - as of September 30, 2025 $3,248,498.99 Deposits 10/23/2025 Deposit from Bank of Clarke TVOR & TLNA Bond Admin Fee) $90,000.00 10/31/2025 Interest $8,638.16 TOTAL DEPOSITS $98,638.16 Disbursements TOTAL DISBURSEMENTS $0.00 BANK STATEMENT BALANCE AS OF October 31, 2025 $3,347,137.15 ** $1,907,000 represents proceeds from the sale of the Robinson School properties. Contact Us Account Economic Development Authority of the Co Date 10/31/2025 Page 1 of 2 IntraFi Cash ServiceSM, or ICS®, Monthly Statement The following information is a summary of activity in your account(s) for the month of October 2025 and the list of FDIC-insured institution(s) that hold your deposits as of the date indicated. These deposits have been placed by us, as your agent and custodian, in deposit accounts through IntraFi Cash Service. Funds in your deposit accounts at the FDIC-insured institutions at which your funds have been placed will be "deposits," as defined by federal law. Certain conditions must be satisfied for "pass-through" FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi's network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Summary of Accounts Account ID Deposit Option Interest Rate Opening Balance Ending Balance Demand 3.12%$3,248,498.99 $3,347,137.15 TOTAL $3,248,498.99 $3,347,137.15 CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. AA Bank of Clarke PO Box 391 Berryville, VA 22611 Economic Development Authority of the Co 00000 RETURN SERVICE REQUESTED DETAILED ACCOUNT OVERVIEW Account ID: Account Title: Economic Development Authority of the Co Account Summary - Demand Statement Period 10/1-10/31/2025 Average Daily Balance $3,275,047.19 Previous Period Ending Balance $3,248,498.99 Interest Rate at End of Statement Period 3.12% Total Program Deposits 90,000.00 Annual Percentage Yield Earned 3.15% Total Program Withdrawals (0.00) YTD Interest Paid 87,650.33 Interest Capitalized 8,638.16 Current Period Ending Balance $3,347,137.15 Account Transaction Detail Date Activity Type Amount Balance 10/15/2025 Interest Capitalization $272.26 $3,248,771.25 10/23/2025 Deposit 90,000.00 3,338,771.25 10/31/2025 Interest Capitalization 8,365.90 3,347,137.15 Summary of Balances as of October 31, 2025 FDIC-Insured Institution City/State FDIC Cert No.Balance BOKF, National Association Tulsa, OK $247,651.55 Cadence Bank Tupelo, MS 247,651.55 Citizens Bank, National Association Providence, RI 247,651.55 Customers Bank Malvern, PA 247,651.55 First United Bank and Trust Company Durant, OK 127,939.66 First-Citizens Bank & Trust Company Raleigh, NC 247,651.55 Flagstar Bank, N.A.Hicksville, NY 247,651.55 Raymond James Bank St. Petersburg, FL 247,651.55 The Huntington National Bank Columbus, OH 247,651.55 UMB Bank, National Association Kansas City, MO 247,378.89 United Bank Fairfax, VA 247,651.55 Valley National Bank Morristown, NJ 247,651.55 Western Alliance Bank Phoenix, AZ 247,651.55 Zions Bancorporation, N. A.Salt Lake City, UT 247,651.55 Date 10/31/2025 Page 2 of 2 CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. DATE: January 30, 2026 TO: Board of Directors, Frederick County Economic Development Authority FROM: Patrick Barker, CEcD Executive Director CC: Jay Tibbs Deputy County Administrator RE: Remote Meeting Policy Update As required by State Code, the EDA must adopt its Remote Participation Policy on an annual basis. While no changes are currently suggested to the policy, it is crucial that the EDA formally adopts it to ensure compliance. Key Points: •Policy Adoption Requirement: The EDA cannot allow any Board member to participate remotely in a meeting unless the policy has been adopted for that year. •Quorum Rules: For meetings where remote participation occurs, at least four Board members must be physically present to satisfy the State Code's quorum requirement. This annual adoption underscores the importance of transparency and accountability in the EDA’s operations. Approved January 2025 ECONOMIC DEVELOPMENT AUTHORITY REMOTE PARTICIPATION POLICY The Economic Development Authority of Frederick County adopts the following policy to permit individual Board members to participate via electronic communication means in Board meetings, as permitted by Virginia Code § 2.2-3708.3. Section 2.2-3708.3 states, with respect to such a policy: “The policy shall be applied strictly and uniformly, without exception, to the entire membership and without regard to the identity of the member requesting remote participation or the matters that will be considered or voted on at the meeting.” A Board may participate from a remote location when he or she experiences a personal matter or medical condition or disability that prevents attendance in person. Whenever a Board member wishes to participate from a remote location, the following requirements apply: • On or before the day of the meeting, the Board member must notify Chair or, if the Board member who wishes to participate remote is the Chair, the Chair must notify the Vice Chair, and indicate the nature of the matter necessitating remote participation, as set forth below. • The Board member’s absence must be due to a personal matter or medical condition or disability that prevents attendance in person. o In the case of absence due to a personal matter (not medical/disability), the Board member may not participate remotely more than twice in one calendar year, and the Board member shall identify the personal reason, for inclusion in the Board's minutes to note remote participation for that reason. o In the case of absence due to medical/disability reason, the minutes must note the fact of remote participation for that reason, but minutes need not note the particular condition/disability. There is no limit on the number of times a Board member may participate remotely for medical/disability reasons. • The Board member must identify the location of his participation (which itself need not be open to the public), for inclusion in the EDA's minutes. • The Board member's voice must be audible to all persons attending the meeting in person. • The Board must approve such participation on the particular occasion and note that fact in the minutes. If the Board denies participation, the Board also must note that fact in the minutes, with the reasons for disapproval. With respect to approval/denial, the Board must uniformly apply the policy (denial can only be for noncompliance with the policy). • A quorum of the Board must be physically present at the meeting location, , unless otherwise specified in Virginia Code 2.2-3708.3 B (1) & (2).” DATE: January 30, 2026 TO: Board of Directors, Frederick County Economic Development Authority FROM: Patrick Barker, CEcD Executive Director CC: Jay Tibbs Deputy County Administrator RE: Large Project Ready Site Program | Current Status At its last meeting, the EDA Board directed staff to modify its strategy to expand the number of Large Project-Ready Sites. Refining the definition of “Large” to properties less than 100 acres was one modification. The definition of “Project-Ready” remains the same, meaning the property is industrially zoned —or can be feasibly obtained within 12 to 18 months— and has key infrastructure, including roads, water, wastewater, electric, and natural gas. Staff has completed its assessment of properties less than 100 acres. These sites were determined to be non-feasible upon further review. One site was encumbered with multiple water features, which would greatly restrict the size of any potential building. The other site faced significant challenges with access. The top priority sites from staff’s initial review have yet to express interest in a revised agreement that focus on rezoning exclusively. Staff will continue to communicate with the owners. The previously mentioned partnership for another large land bay by a prospective purchaser remains active. A meeting will be held soon to discuss next steps. DATE: January 30, 2026 TO: Board of Directors, Frederick County Economic Development Authority FROM: Patrick Barker, CEcD Executive Director CC: Jay Tibbs Deputy County Administrator RE: Joint Meeting with Board of Supervisors Preparation As we are prepare for the upcoming annual joint meeting between the Economic Development Authority (EDA) and the Board of Supervisors (BOS), I would like to present the current draft of our presentation for your review and feedback. The goal of this joint meeting is two-fold: 1. To provide an update and discussion on the direction of the EDA and its strategic initiatives. 2. To gain a clearer understanding of the BOS’s expectations and priorities regarding economic development. The presentation will cover the following key areas: 1. Overview of Local Economy - Snapshot of the largest industry sectors today and tomorrow (10 years) - How Frederick County compares to competing areas - Examination of workforce trends and needs - Highlights of successful projects and why they chose Frederick County 2. Confirmation of EDA’s Mission and goals - Understanding the economic development goals. - Identifying the goals and objectives - Discussion of any changes or new goals the BOS would like to see. 3. Priorities of 2026-2027 - Exploration of planned activities of the EDA in site readiness, workforce, targeted industries, small business assistance and grocery store attraction - Cooperative conversations between the EDA and BOS on these priorities. Staff welcomes your input on the following: - Are there any additional topics or data points a Board member would like to include? - Are there specific issues or areas a Board member would like to address during the meeting? Please provide your feedback at the meeting so we have ample time to revise and finalize the materials. 1/30/2026 1 OCTOBER 2024 Your Move. Our Commitment. 1. Call to Order 2. Chair’s Comments 3. Overview of Local Economy 4. EDA’s Mission & Goals 5. Priorities 2026 - 2027 6. BOS Feedback on Priorities 7. Adjourn AGENDA JOINT MEETING EDA & BOS 2 1 2 1/30/2026 2 Your Move. Our Commitment. Chair Comments John Jewell, BOS Chair Rick Till, EDA Chair 3 Your Move. Our Commitment. EDA Board of Directors Rick Till, Chairman of the Board Tina Murphy, HP Hood Bryan Fairbanks, Trex Company Diane Kearns, DTS LLC Gary Lofton Jason Aikens, FC BOS Christine Kriz, LRCC Workforce Solutions 4 3 4 1/30/2026 3 Your Move. Our Commitment. Overview of Local Economy EDA’s Mission & Goals Priorities 2026 - 2027 BOS Feedback on Priorities AGENDA JOINT MEETING EDA & BOS 5 Your Move. Our Commitment. Patrick Barker, CEcD | Executive Director 6 •Strategic planning •Client management, new & existing •Advanced data analysis EDA STAFF Wendy May | Marketing Manager •Communications and marketing activities •Websites, social media, content, data •FredCo Eats brand Shayla Rickard |Business Retention Manager •Business call visit program •Career Pathways program •Regional workforce partnerships Donna McIlwee | Administrative Assistant •Finance and administrative activities •Special projects & staff support Vacant | Project Specialist •Talent engagement •Business retention & attraction support Allison Dongoski | Contractor •Special projects 5 6 1/30/2026 4 Your Move. Our Commitment. Overview of Local Economy Largest Industry Sectors Competition Comparison Workforce Business Growth 7 Your Move. Our Commitment. the Now Economy Frederick County 8 Top Employment Segments (4,000+) o Manufacturing o Retail Trade o Transportation and Warehousing Fastest Growing Segments (Last 5 years) o Transportation & Warehousing o Retail Trade o Finance & Insurance 7 8 1/30/2026 5 Your Move. Our Commitment. the FUTURE ECONOMY 5 years forward 9 Fastest Growing Segments (400+) o Transportation & Warehousing o Manufacturing o Health Care and Social Assistance o Retail Trade o Construction o Finance & Insurance o Accommodation and Food Services Your Move. Our Commitment. Chmura Economics contracted to compare the Frederick County MSA (Winchester, Frederick County, Hampshire, WV) to 27 competing MSAs •Various demographic economic indicators as well as industry and occupation variables 10 Competition Comparison 9 10 1/30/2026 6 Your Move. Our Commitment. Frederick MSA is top 3rd benchmarked locations •Net domestic migration rate || 3rd •All Industries - 10 Year Change || 4th •All Industries - 10 Year Forecast Growth Rate || 4 th •Forecast population growth ages 25-44 || 7th •Advanced Manuf. Location Quotient (LQ) || 3rd •Advanced Manuf. 10 Year Forecast Growth Rate || 2nd •Food & Beverage Manuf. Location Quotient (LQ) || 2nd •Finance & Insurance Location Quotient (LQ) || 1st 11 Competition Comparison Your Move. Our Commitment. Frederick MSA is bottom 3rd benchmarked locations •Cost of Living || 24th •Educ. Attainment, Age 25-64 - Associate's Degree || 20th •Information Technology Industry LQ || 21st •Computer User Support Specialists - LQ || 22nd 12 Competition Comparison 11 12 1/30/2026 7 Your Move. Our Commitment. the Workforce 45-minute drive time 13 More 360,000 professionals o 91% | High School Graduates o 41% | Associate Degree + o 12,710 | Unemployed Your Move. Our Commitment. the Workforce 45-minute drive time 14 Occupations (19K +) o Office & Administrative o Transportation & Material Moving o Sales & Related o Food Preparation & Serving o Management o Education Instruction & Library o Business & Financial o Construction o Healthcare Practitioners & Technical o Production 13 14 1/30/2026 8 Your Move. Our Commitment. the Commuting 60% LIVE & WORK 15 Net Positive Pattern o Live & Work = 43,568 o Out = 24,793 o In = 28,890 Your Move. Our Commitment. the In-Migration North, South & East 16 Loudoun = 1,000 Fairfax = 537 Warren = 421 Berkeley, WV = 411 Prince William = 395 Source: 2021-2022 IRS SOI Tax Stats - Migration Data 15 16 1/30/2026 9 Your Move. Our Commitment. 84 Lumber | Amazon | American Woodmark | Barrett Machine | Blue Ridge Industries | Evolve Stone | Greenbay Packaging | HP Hood | M&H Plastics | Kingspan | Berry Global | Melnor | Navy Federal Credit Union | Shawnee Canning | Southeastern Container | ThermoFisher | Winchester Metals 17 Top 20% Capex & New Jobs Your Move. Our Commitment. DESI FOODS 18 HP HOOD FRAMEBRIDGE WCS MONOFLO 17 18 1/30/2026 10 Your Move. Our Commitment. Mission and Goals Business Retention Business Attraction Talent Engagement Business Climate 19 Your Move. Our Commitment. Frederick County EDA 20 Facilitate economic development efforts for Frederick County through the retention, expansion, and attraction of businesses that create high quality jobs and new capital investment resulting in Frederick County as a premier business location and enhancing the quality of life for its citizens. Mission Statement 19 20 1/30/2026 11 Your Move. Our Commitment.21 Strategic Goals 1. Enhance Frederick County’s business environment to encourage the expansion and retention of existing business (Business Retention) 2. Conduct strategic and measured business attraction efforts to expand the commercial and industrial base and create quality jobs for all citizens (Business Attraction) 3. Address current and projected workforce needs by engaging the talent in Frederick County and greater community encouraging their retention and attraction (Talent Engagement) 4. Foster and maintain a pro-business climate by enhancing critical assets and employing business friendly policies and procedures (Business Climate) Your Move. Our Commitment. Priorities for 2026 -2027 Grocery Store Attraction Small Business Industry Targets Workforce Readiness Site Readiness 22 21 22 1/30/2026 12 Your Move. Our Commitment. Conduct outreach effort to recruit additional grocery stores to Frederick County 23 Plan to locate | 1/12 Moderate Interest | 2 Considering locations in the area (FC) Long Term Interest | 3 No current plans to enter market, but FC is part of long-term market consideration No Interest | 2 Grocery Stores Your Move. Our Commitment. Providing key operational and technical assistance 24 Small Business Development Center FredCo Eats Enhanced/Dedicated Page Success Stories Microgrants Small Business 23 24 1/30/2026 13 Your Move. Our Commitment. Process of selection 25 Industry Targets $61,983 “attraction of businesses that create high quality jobs” Your Move. Our Commitment. FINANCE & INSURANCE 26 depository credit intermediation | non- depository credit intermediation INDUSTRY TARGETS ADVANCED MANUFACTURING boiler, tank, and shipping containers | cement/concrete | control instruments | electric vehicle and components | lime/gypsum | metals | petroleum/coal | plastics | printing | wood BIOSCIENCE medical and diagnostic laboratories | pharmaceutical and medicine manufacturing | scientific research and development service FOOD & BEVERAGE animal | dairy | fruit and vegetable | grain | specialty CORPORATE SERVICES administrative services | management of companies and enterprises | professional, scientific, and technical services INFORMATION TECHNOLOGY computer systems design and related services | data processing | hosting, and related services 25 26 1/30/2026 14 Your Move. Our Commitment.27 Talent Readiness K-12 | Widget Cup, WOW! Post Graduation | Employer Expos, Live.Love.Shenandoah Partnerships | Public Schools, SU, LRCC Your Move. Our Commitment. K-12 | The Widget Cup & Worlds of Work 28 The Widget Cup •Showcase talent from area public schools’ career and technical programs Worlds of Work! •Immersive career exploration experience for region’s public school students Talent Readiness 27 28 1/30/2026 15 Your Move. Our Commitment.29 Post Graduation | Workforce Initiative, Live.Love.Shenandoah Workforce Initiative •Employer Expo x2 (Regional Hiring Event) Live.Love.Shenandoah •Regional talent attraction and retention vehicle Talent Readiness Your Move. Our Commitment. Partnerships | Public Schools, SU, LRCC 30 Public Schools •Dowell J Howard, Innovation Center Shenandoah University •The HIVE, Target Industry Alignment Laurel Ridge Community College •Mechatronics Lab, Target Industry Alignment Talent Readiness 29 30 1/30/2026 16 Your Move. Our Commitment. Offering increase, Different approach 31 Site Readiness MartinsburgRoanokeHarrisonburgRichmondFrederickCountyAcreage 11430200-999 13171622650-199 57543444<50 2741Certified Your Move. Our Commitment. BOS feedback on planned activities Welcome your thoughts 32 31 32 1/30/2026 17 Your Move. Our Commitment.33 THANK YOU 33