Where has a TDF been successful in a similar market to ours?

We identified Asheville and Virginia Beach as similar markets. These are both competitive markets for Williamsburg and we compete for the same audience or visitor.

Asheville

In Asheville’s case, we find that in the early 2000s the community, led by the hospitality industry, worked to create the Tourism Product Development Fund (TPDF). Funded using similar revenue streams this program has funded 31 projects with $27 million since 2001. It is credited as helping create Asheville which today welcomes record visitors and boasts a wealth of attractions. For more on Asheville’s program here is a video that describes tourism’s impact on their community.

Virginia Beach

Virginia Beach tells a similar story. Virginia Beach utilizes two programs aimed at boosting tourism. The Tourism Investment Program (TIP) is a discretionary funding tool utilized to jumpstart major projects in its market. Projects and events like the Rock’n’Roll Marathon and Beach Street USA benefit from the program.

While this is not conclusive data-driven proof of success, it is indicative of the efforts that create a successful tourism community.

Show All Answers

1. Why do we need a Tourism Development Fund (TDF)?
2. What types of projects could be funded by the TDF?
3. How much would taxes increase if the TDF is approved?
4. Why can’t the City fund the TDF using existing revenues?
5. Is anyone able to apply for funding?
6. How would the TDF money be distributed?
7. Why does the City have to fund the projects?
8. How did City Council decide on a Tourism Development Fund?
9. Will unspent TDF money rollover into the next year?
10. How does the TDF differ from the City’s Capital Improvement Plan (CIP)?
11. Where has a TDF been successful in a similar market to ours?
12. How will we determine the success of the TDF?