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    Economic Development Authority

    Purpose

    Assists in promoting industry and developing trade in the area through financial assistance to new and existing industries.

    The Lynchburg Economic Development Authority is a political subdivision of the Commonwealth of Virginia and serves as the incentive arm of the City of Lynchburg.  The EDA actively pursues investment and development opportunities, and elevates the economic development profile of the City.  EDA members are appointed by City Council and may serve up to three consecutive four year terms. 

    Meetings

    3rd Thursday monthly, 8:30 a.m.
    Office of Economic Development - City Hall, 2nd Floor
    900 Church Street

    Members

    *Members are required to fill out a Statement of Economic Interest Form, pursuant to §2.2-3115 of the Code of Virginia.
     

    Kim Soerensen (Ward 1)

    William T. "Bill" Lovern, Asst. Sec.-Treas. (Ward 1)

    grew up in Lynchburg, attended E. C. Glass High School, and graduated from the University of Virginia with a BA in Economics. His career began in New York, trading and marketing government securities for The Bankers Trust Company on Wall Street.  Mr. Lovern is now the co-founder and Executive Vice President of The Global Volunteer Partnership, an organization that is developing resources to enable skilled American volunteers and US nonprofits and companies to contribute to global development through projects targeting economic growth, education, health, the environment, information technology and agriculture. 

    Richard Tugman (Ward 4)

    Georgeann Snead (Ward 1)

    is President and CEO of Electronic Design and Manufacturing, an employee-owned manufacturer of printed circuit board assemblies started in the Lynchburg Business Development Centre in 1990. Prior to joining EDM, Georgeann served as the first director of the Lynchburg Business Development Centre. Georgeann is a graduate of Davidson College and is actively involved in the community, serving on several local boards. She and her husband Parks have two grown children.

    John M. Stone, Sec.-Treas. (Ward 1)

    is a First Vice President / Investments with Stifel Nicolaus, a national financial services firm. A graduate of Hampden-Sydney College, John has more than 17 years of experience in wealth management. He holds the CFA (Chartered Financial Analyst) and AIF (Accredited Investment Fiduciary) designations. He is a member of the CFA Institute and Richmond Society of Financial Analysts. John currently serves as Board Chair of the Lynchburg Business Development Centre, on the Board of Directors of the Lynchburg Regional Chamber of Commerce, and as a Board Member and Past President of the Rotary Club of Lynchburg-Morning.

    Mark Strosnider, Vice Chair (Ward 1)

    has been a local banker in Lynchburg since 1986 and currently works as a commercial lender with American National Bank and Trust. Mark is a graduate of Virginia Tech, the VBA School of Bank Management, and ABA Stonier Graduate School of Banking at Georgetown University.

    Patricia Mosby (Ward 2)

    As of 07/2021

    Liaison - Marjette Upshur: 434-455-4490

    Membership:  The Board of Directors is composed of seven (7) directors, appointed by the council of the City of Lynchburg, Virginia. No director shall be an officer or employee of the municipality.

    NOTE:  New members must file a Statement of Economic Interest form and take an oath of office with the Clerk of Court. Maximum of three 4-year terms.

    Reference: Code of Virginia Section 15.1-1377; Ord. #O-80-295 adopted 9-23-80

    June appointment

    Lynchburg - A City of Opportunity website