Aside from a one-year stint working at the White House during the last year of the Reagan administration, Rick Overy has lived and worked in the Williamsburg area since he arrived in 1982.
He came here as a freshman at the College of William & Mary’s business school and, after graduating and working for Reagan in the Office of Public Liaison, Overy returned to the college to work in the development office. Since then he has worked in investment management at Legg Mason and Smith Barney. In 2009, he opened his own business, Compass Wealth Strategies, based out of a North Henry Street location.
On Tuesday, Overy was appointed to the city’s Economic Development Authority — a public body that keeps a watchful eye on the city’s economy. He will replace an open spot left on the board by Del.-elect Monty Mason (D-93rd District) who resigned his chairmanship on Sunday to prepare for the upcoming legislative session. Overy has not been appointed to the chairman’s position.
Overy will fill Mason’s unexpired term, which ends June 30, 2015. He called the appointment “an opportunity to serve and help out” the community.
“I have my home and my business in the city,” Overy said. “I want to make sure we protect the city economically.”
His goals on the EDA, Overy said, will be to see the city have “a greater density within the business community.” He said he would like to achieve that through making the business climate more attractive and prestigious to business owners, but would need some time to see what the EDA already has in place.
On a couple fronts, he said, the city is better off than it was 20 years ago: There are more professional jobs and a better nightlife.
“We could also lose that if we don’t act,” Overy said. “We could continue to see businesses move to the county or fail if we don’t support our businesses.”
Though he had hoped for new “silver bullet” businesses to bring more jobs to the city, Overy said he realizes the business landscape is different in city limits. It’s about growing it organically, he said, by bringing in young professionals and small businesses to add to the existing base.
Though Overy will fill Mason’s spot on the EDA, an official vote for the new chairperson will take place Jan. 8.
