WAYNESBORO, Va. (WHSV) — More businesses are coming to Waynesboro, bringing new jobs and new places to shop. Those changes mean benefits for everyone.
New businesses coming to the Waynesboro Town Center will bring benefits for city. | Credit: WHSV
One of the new stores coming to the area is an Old Navy. Currently, if people want to shop there, they have to go to either Harrisonburg or Charlottesville.
Waynesboro Economic Development said it's always better when money can stay in the community.
"People only have a certain amount of discretionary income," Greg Hitchin, director of economic development, said. "So they can spend that for goods and services within the city boundaries, or they can spend that for gas driving outside."
Hitchin said its important when money stays inside the city. Businesses and sales provide taxes for the city. The city can then earn revenue from real estate taxes, sales tax, and other taxes. When people shop in the city, especially at local businesses, the money stays in the city and is spent again and again.
"If you're a manufacturer and you employ people here, then they need to get their hair cut, and they need to get the dry-cleaning done, and then the dry-cleaning owner needs to buy food for his family," Hitchin said.
In the East Main Street corridor, Hitchin said they've recently done a study to look at what needs are in the area that aren't being met. Hitchin added they've spent a lot of time marketing the benefits of living in the city and why its good for business.
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February 04, 2020 at 06:10AM
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New businesses bring economic benefit for Waynesboro - WHSV
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