Tysons Partnership will receive up to $1 million from Fairfax County to help rebrand Tysons and rethink the group’s business model.
Currently, the members of Tysons Partnership pay dues, Sol Glasner, the nonprofit’s president, told the board in September.
The Board of Supervisors approved the funding, which comes from Economic Opportunity Reserve, on Tuesday (Dec. 3).
The funding could get allocated toward placemaking events, branding efforts, sponsorship and media outreach Joe LaHait, the debt manager for the Department of Management and Budget, told the county board in September.
Tysons Partnership aims to have the rebranding study done by the end of the year, which it will share with Fairfax County, according to county documents.
As part of the approval of the funding, the county requires that the recommendations from the final report do not overlap with the Fairfax County Economic Development Authority and that Tysons Partnership consider funding options as part of a new business model that provide long term sustainability, according to the county.
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EOR funding will result in an equal match from the Tysons Partnership, who are fundraising their allocation from their membership. The county will request from the Tysons Partnership at the end of each financial quarter a summary of their fundraising amounts.
The county will then provide an equivalent EOR allocation to the Tysons Partnership. This process will continue following successive quarterly reviews up to a maximum county contribution of $1,000,000.
Several Fairfax County supervisors, including Providence District Supervisor Linda Smyth, have said that the funding could help revitalize Tysons with a more “sophisticated” branding approach. In the past, branding efforts have included water tank decals and streetlight banners, Smyth said.