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The Chesterfield Economic Development Authority (CEDA) works in conjunction with the Department of Economic Development to help create new jobs, expand the tax base and diversify the economy of Chesterfield County. The CEDA is chartered through a state law that allows cities and counties to create industrial or economic development authorities with wide-ranging powers, not available to local governments, in order to facilitate economic development opportunities within the community.
Among other things, the CEDA has the power to buy, sell and develop land for business parks or other economic development purposes. It can also build facilities for sale or lease to private companies; issue taxable and tax-exempt Industrial Revenue Bonds to provide financing for facilities and machinery and provide incentives to attract new companies to Chesterfield County or to induce existing companies to expand.