WILMINGTON — Wilmington Downtown Inc., the public-private partnership tasked with downtown Wilmington’s growth and development, is parting ways with President and CEO Ed Wolverton, who announced this week he was stepping down at the end of July.
Wolverton was brought on by WDI in the fall of 2013 after previous CEO John Hinnant announced he was leaving to focus on commercial real estate. Over the next several years, Wolverton oversaw the launch of the Municipal Services District (MSD), which implemented a special tax on downtown businesses in exchange for increased services. He also saw the launch of the ‘ambassadors’ program. Both ideas faced delays and pushbacks under Hinnant.
Wolverton’s departure was apparently a mutual decision with the WDI Board’s Executive Committee. After getting the MSD up and running, WDI is now looking at new options and approaches for growth and development.
In addition to the MSD and ambassador programs, WDI credits Wolverton with supporting the redevelopment of the Water Street parking deck into the city’s public-private Riverplace project, as well as producing the Downtown Sundown Concert Series, the #OverFlo Hurricane Relief effort, and the RE-3 grant program aimed at helping downtown businesses survive the financial devastation of Covid-related business closings.
WDI touts an economic boom over the last seven years, citing $790 million in new investments, including 240 new businesses, 1,300 jobs, and other developments. Between July 1, 2019 and June 30, 2020, alone WDI reported $240 million in downtown investments with $200 million in construction projects “in the pipeline.”
According to WDI Board Chair Dane Scalise, a search committee for a replacement president and CEO will be formed immediately.
Wolverton has worked in groups promoting downtown areas and economic growth for 35 years. Prior to WDI, he worked as the head of Downtown Greensboro Inc. and Wichita Downtown Development Corporation. According to the most recently available non-profit tax returns from WDI, Wolverton’s salary was $80,773.
