Newsletter

Old Town dominated the city in 2020 business grant funding

A new report from the Alexandria Economic Development Partnership showed that the 22314 zip code — Old Town and Carlyle — received more funding in business grants than the rest of Alexandria combined.

A breakdown of grant dollars by zip code showed that Old Town and Carlyle businesses received $3.5 million in grant funding. The next closest was the 22304 zip code in the West End, totaling $1.1 million.

That funding would be centered in Old Town isn’t too surprising, considering that’s where roughly 50% of the city’s businesses are located. AEDP President and CEO Stephanie Landrum told ALXnow last year that’s also where around 60% of the grant applications come from, despite an effort by the organization specifically to reach out to non-Old Town businesses and encourage them to apply.

The rest of Alexandria, combined, received $2.4 million in grants.

In total, AEDP distributed $6.4 million in federal and local grant funding to 648 Alexandria businesses.

The grants were fairly evenly split between male and female-owned businesses — 46% and 44% respectively — with 9% not identifying their gender and 1% identifying as trans or non-binary.

Roughly 74% of the funding went to businesses with less than 25 employees, which were a focus of AEDP’s grand campaign.

The report also showed that 47% of businesses that received grants were white-owned, followed by 21% as Asian-owned businesses. Black-owned businesses in Alexandria comprised 11% of grant funding, and Hispanic or Latino-owned only 8%.

Overall, the report also took stock of the pandemic’s devastating impact on local businesses:

  • 81% of small businesses reporting very-to-extreme disruptions to business operations
  • 77% of small businesses reporting year-over-year revenue declines
  • 9.9% Alexandria unemployment rate in April 2020 (an increase of 7.9% from April 2019)
  • $30.2M projected loss of business and consumer-based tax revenue in the City

Photos via AEDP

Recent Stories

While the Virginia Railway Express (VRE) is working through plans to make September fare-free for all riders, that could be extended into October for Alexandria riders dealing with the Metro…

Updated 4:30 p.m. — A spokesperson representing Hilco Redevelopment Partners shared an email with WMWAA indicating that the Airports Authority “is comfortable that the City of Alexandria does not need…

The Alexandria City Council is poised to approve an amended plan to build a 473-unit affordable housing complex in Arlandria, now that St. Rita Catholic Church has signed off on…

Alexandria will be hiring more police officers, but Mayor Justin Wilson warned the fix to staffing challenges won’t be quick. The Alexandria Police Department is facing a chronic short-staffing issue…

×

Subscribe to our mailing list