HENRICO COUNTY, VIRGINIA

September 10, 2014

HENRICO COUNTY, VIRGINIA

Contents

1 A Changing

Community and

Growing Economy

2 Keys to Our

Success

3 Our Future Goals

4 Engage

HENRICO COUNTY, VIRGINIA = 500 people

Henrico’s population increased

by 44,635 people over the past

decade, of which…

58% were

African

American

24% were

Asian

2% were

White

8% were Two or More Races

8% were Some

Other Race

HENRICO COUNTY, VIRGINIA

60% Of Henrico Households Make $75,000 Or Less

We Are A Working Class Community Creating Better Futures For Our Families

HENRICO COUNTY, VIRGINIA

Henrico has almost recovered the

jobs lost during the recession

110,000

120,000

130,000

140,000

150,000

160,000

170,000

180,000

190,000

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Average Annual Employment

HENRICO COUNTY, VIRGINIA

1,376 New Jobs in FY2014

HENRICO COUNTY, VIRGINIA

$ 783.6 MILLION IN VISITOR SPENDING 6.3 % increase in local tax receipts

$ 184.5 million in payroll

7,800 employed

HENRICO COUNTY, VIRGINIA

SPORTS TOURISM $37.5 Million In Economic Impact

HENRICO COUNTY, VIRGINIA

NEW Development

HENRICO COUNTY, VIRGINIA

HENRICO COUNTY, VIRGINIA The Faison School

Broad Hill Centre

The Faison School

HENRICO COUNTY, VIRGINIA

GreenGate

HENRICO COUNTY, VIRGINIA

Staples Mill Marketplace

Reynolds Crossing

West Broad Village

HENRICO COUNTY, VIRGINIA

RE-development

HENRICO COUNTY, VIRGINIA

HENRICO COUNTY, VIRGINIA

Short Pump Town

Center

Undergoing A

Multi-million

Dollar Renovation

American Eagle Outfitters/aerie

Athleta

Cooper Hawk Winery &

Restaurants

Free People

Gymboree

Justice & Brothers

kate spade new york

Madewell

Michael Kors

Oakley

Rock Bottom Restaurant &

Brewery

True Religion

TUMI

Vans

Versona Accessories

HENRICO COUNTY, VIRGINIA

Willow Lawn

HENRICO COUNTY, VIRGINIA

Recessions

-350.0

-250.0

-150.0

-50.0

50.0

150.0

250.0

350.0

19

65

19

67

1969

19

71

19

73

19

75

19

77

19

79

19

81

19

83

19

85

19

87

19

89

19

91

19

93

19

95

19

97

19

99

20

01

20

03

20

05

2007

20

09

20

11

20

13

Ch

an

ge

in

Re

al G

DP, B

illio

ns

of

Ch

ain

ed

2009 D

olla

rs

Real Gross Domestic Product

HENRICO COUNTY, VIRGINIA

HENRICO COUNTY, VIRGINIA Only 34 Triple Aaa Localities In the USA

HENRICO COUNTY, VIRGINIA

we want our citizens to not know the difference

WHEN THE ECONOMY SOURS

HENRICO COUNTY, VIRGINIA 22

4.7% 5.0%

4.2%

5.0% 5.0% 6.0%

5.0% 5.0%

-0.7% -3.4% -1.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Consumer Price Index Population Expenditure Growth

THE HENRICO WAY

5.0 % Cap for Continuing Operational Expenses

HENRICO COUNTY, VIRGINIA

THE HENRICO WAY SEPTEMBER 2008 Henrico moves

all its

investments to Cash and US Govt. Bonds

2008 | 2009 | 2010 | 2011 | 2012

LATE FALL 2008 Henrico is the first AAA

rated locality to go back to the bond market to sell bonds. Commonwealth of Virginia sell the next day,

OCTOBER 2008 County changes bank before banking crisis hits. Goes with a smaller bank that has very little

mortgage risk. Old bank is forced to merge to stay solvent

APRIL 2011 Henrico “Changes

The Way It Does Business” by

introducing multiple cost saving initiatives

AUGUST 2011 United States bond rating downgraded

OCTOBER 2011 Henrico AAA Rating Reaffirmed

AUGUST 2012 Committee of employees to

identify additional cost savings

between General Government and Education introduced to

identify cost saving and efficiency maximizing practices

MARCH 2012 Budget Strategies Group

indentifies 18 strategies to reduce additional

operational expenses

FEBRUARY 2009-MAY 2010 Henrico County Refinances all its General Obligation debt resulting

in savings of $18 million

23

HENRICO COUNTY, VIRGINIA

HENRICO COUNTY, VIRGINIA

Shortfalls - $2.4 billion

- $1.8 billion

- $4.2 billion

- $6.0 billion

HENRICO COUNTY, VIRGINIA

HENRICO COUNTY, VIRGINIA

$154.32

$169.16

$172.97

$177.88

$179.22

$190.08

$208.92

$210.82

$227.87

$269.39

$334.86

$426.20

$431.55

$448.57

$455.28

$0.00 $100.00 $200.00 $300.00 $400.00 $500.00

Henrico

Hampton

Chesterfield

Newport News

Spotsylvania

Norfolk

Virginia Beach

Richmond

Chesapeake

Stafford

Prince William

Fairfax

Loudoun

Arlington

Alexandria

Includes: Real Estate Taxes, Personal Property Taxes, Residential Utility Taxes for Electricity, Gas, and Water, and Vehicle License Fee.

HENRICO COUNTY, VIRGINIA

Virginia

$11,257

Per Pupil

Henrico

County

$9,110

Per Pupil

LOWEST PER PUPIL COST IN THE STATE

Great Services As The Lowest

Possible Cost

National

$10,615

Per Pupil

HENRICO COUNTY, VIRGINIA

The best way to

predict the future

is to create it.

“

Abraham Lincoln

HENRICO COUNTY, VIRGINIA

Hig

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Org

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HENRICO COUNTY, VIRGINIA

ENHANCE transparency

HENRICO COUNTY, VIRGINIA

ENGAGE WITH YOUR COMMUNITY

HENRICO COUNTY, VIRGINIA

Citizens Academy

HENRICO COUNTY, VIRGINIA

Citizens’ Fire Academy Citizens’ Police Academy

HENRICO COUNTY, VIRGINIA

for Listening

HENRICO COUNTY, VIRGINIA

September 10, 2014

HENRICO COUNTY, VIRGINIA

HENRICO COUNTY, VIRGINIA

~ Work in Progress by The

ReflexMan

~ Glen Allen Stadium by Henrico

County

~ Cabela's Hunting Store at Buda,

Texas by Heather Cowper

~ Pittsford Wegmans by Liren Chen

~ The Faison School by Richmond

Times Dispatch

~ Broad Center Hill by Richmond

BizSense

~ GreenGate by NAI Eagle

~ Reynolds Crossing by WTVR

~ West Broad Village by NAI Eagle

~ Libbie Mill by Gumenick Properties

~ Short Pump Town Center by Forest

City

~ Willow Lawn by Willlowlawn.com &

RVANews

~ Closed 2 by The Q Speaks

~ Abraham Lincoln memorial by

Gage Skidmore

~ Infinity by Phil Gibbs

~ MLK March 2 by Jeffery Smith

IMAGE CREDITS