Economic Development

Greater Williamsburg

We understandably have the widest range of programs near the main campus and in the Greater Williamsburg area. Governments in the area have expressed interest in diversifying their economic bases, including more emphasis on technology-based companies. They have also expressed interest in the economic vitality of the urban core around the W&M campus. William and Mary is collaborating in that strategic planning process.

The William and Mary Foundation is a partner in the development of the 300-acre New Town mixed use community adjacent to the west end of campus. The College is collaborating in the development of the Discovery Center project to collocate the Office of Economic Development, the Technology and Business Center, and the William and Mary Research Institute with two high-technology classrooms and the regional workforce development director of the Thomas Nelson Community College, and the James City County Office of Economic Development. We hope to use that Discovery Center as a catalyst for broader economic development collaboration.

The Technology and Business Center has helped to coordinate a program of business education outreach classes in conjunction with the Mason School of Business, the Greater Williamsburg Chamber and Tourism Alliance, and the economic development offices of the City of Williamsburg, James City County, and York County. The classes are taught by our top professors in each field. Recent topics have included web-based marketing, financial planning, strategic planning, and business-to-business marketing.

Click HERE to view a powepoint overview of the Greater Williamsburg Project.

William and Mary’s economic and community outreach plan for 2007-2008 includes the following elements:

Continue support for the Sharpe program (the Sharpe Community Scholars Program offers approximately 75 students the opportunity to connect their academic studies with community engagement) and student volunteer activities.
Support the Crossroads Group’s efforts to help develop the urban core and coordinate physical and intellectual connections among the City of Williamsburg, James City County, York County, Colonial Williamsburg, William and Mary, Eastern State Hospital and Thomas Nelson Community College.
Collaborate with the City of Williamsburg to promote economic development associated with the College on the campus perimeter, to include planning for expanded student retail opportunities and planning for placement of the School of Education on the vacated Sentara Hospital site. Initiate a strategic plan for the extended campus perimeter.

Complete coordination for co-location of the W&M Office of Economic Development the W&M Technology and Business Center, and the W&M Research Institute with TNCC high-tech classrooms and the James City County Office of Economic Development in the new Discovery II building at New Town. Introduce collaborative progams with TNCC.

Complete relocation of the W&M Development offices into the Discovery I building in New Town that is being built by the Endowment Association.

Support marketing activities by the Hampton Roads Economic Development Alliance, the City of Williamsburg, James City County, and York County to attract knowledge-based companies to the area.

Collaborate with the Greater Williamsburg Chamber and Tourism Alliance on continuing studies of regional workforce challenges.

Launch William & Mary's Business Outreach Summer Program in the Summer of 2007 and expand offerings into the school year.

Mentor companies in the James City County incubator and continue to engage Business School faculty in developing support modules and providing direct consulting services.

Engage faculty, particularly in the School of Business, with regional companies through W&M's Community Outreach Research Program (CORP) and funding from the U.S. Department of Commerce EDA grant.

Chair monthly CEO Forum meetings and provide CEOs of local technology companies the opportunity to discuss and analyze complex business issues.