FRA Reports Higher Prospect Activity For Fredericksburg Region

The Fredericksburg Regional Alliance's most recent prospect activity report states that larger companies are targeting the Fredericksburg region for site visits and requesting additional demographical information.

FRA is a public/private economic development marketing partnership that  provides CEOs, presidents, corporate real estate executives, and site selection consultants with a single source for comprehensive demographic, economic, and commercial real estate information for the City of Fredericksburg and the counties of Caroline, King George, Spotsylvania, and Stafford. The group also provides a wide range of services designed to facilitate the creation of jobs and capital investment while diversifying the economy and increasing the tax base, according to its website. 

"The increase in activity, which began earlier this year, has resulted in several visits this spring by corporate representatives to localities throughout the region, including the City of Fredericksburg," the report states. "The increased activity is likely related to the large cash balances held on corporate balance sheets and the improvement in consumer confidence as the country continues to make a slow recovery."

The report goes on to say that a good number of the corporate visitors stayed in Fredericksburg and were impressed with its ambiance. The downtown was highly praised for its cleanliness and appearance.

“From what we’re seeing in the way of corporate activity at this time, barring any major negative developments in the U.S. economy, prospect activity is likely to strengthen as the year progresses," said FRA President Gene Bailey. "It is well understood that corporate decisions can take many months to pan out, but we are optimistic that the pipeline is being filled with projects that are sending an encouraging message to the local economy."

FRA also recently sponsored an event with General Services Administration Associate Commissioner David Ehrenwerth and U.S. Rep. Rob Wittman to discuss GSA leasing protocol for Fredericksburg area real estate. Getting GSA defense jobs to locate in Fredericksburg has been a difficult challenge for city officials and elected leaders, and.

City Councilman Brad Ellis is an analyst for a government defense consulting firm, and he has said that companies like the one he works for don't want to locate in Fredericksburg because employees don't want to drive into the city from the north and because there isn't any space that can seat 50 to 100 people.