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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
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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
h P
erf
orm
an
ce
Org
an
iza
tio
n
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
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