The Waynesboro Economic Development Authority is a seven member board appointed by City Council and charged with promoting the economic wellbeing of the community. In addition to its legal authority to issue industrial development bonds, the EDA directs strategic planning initiatives, oversees economic development incentives, and leads outreach efforts to the business community. Staff support is provided by the Office of Economic Development.

In 2011, the EDA received a USDA Rural Development grant to establish a revolving loan fund for small business. The Grow Loan is a short term, low interest loan designed to assist Waynesboro based small businesses with start up operations, construction, and other costs.

In March 2025, the EDA formally adopted the updated Economic Development Strategic Plan. The Executive Summary is available for download below; the full report is available upon request.