City of Fredericksburg, EDA nears $1M in business assistance
The City of Fredericksburg and its Economic Development Authority are nearing $1 million in financial support of its small business community since the COVID-19 pandemic began a year ago.
A significant part of the investment — $550,000 — came from funds the City received through the federal CARES Act legislation; the EDA and City have also supplemented CARES Act funds.
Much of the support went to three separate grant programs administered by the EDA that helped almost 200 businesses with direct financial relief. The third of the grant programs was geared specifically toward helping restaurants purchase outdoor heaters to extend their outdoor dining seasons.
The CARES Act funds also paid for a significant marketing campaign to promote the “We Are FXBG” video, and to provide funds to Fredericksburg VA Main Street Inc., which used the money on a small business grant program of its own. Recently, the EDA approved spending another $25,000 to market a second, longer “We Are FXBG” video, matching the City’s investment in the promotion.
The EDA has also rolled out two separate gift card programs benefiting two hard-hit sectors — restaurants and fitness centers. The fitness center promotion is ongoing (check back on this blog every week for the deal of the week, and subscribe to our Fred Focus weekly newsletter to stay up to date on business news).