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C omprehensive E conomic D evelopment S trategy March 22 , 2012

C omprehensive E conomic D evelopment S trategy March 22 , 2012. Modified Criteria.

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C omprehensive E conomic D evelopment S trategy March 22 , 2012

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  1. Comprehensive Economic Development Strategy March 22, 2012

  2. Modified Criteria • Unemployment Rate: Utilizing the latest annual average figures available, unemployment rates will be used in evaluating project significance. City‑County/Town will be utilized, while in cases of multiple jurisdictions, the average rank will be determined. Points 3 A. If 10% or more above State average 2 B. If 5 - 10% above State average 1 C. If 1 – 5% above State average 0 D. If equal to or below State average

  3. Additional Criteria • Relationship to Natural Resources Points 5 A. Project sets aside land for conservation 3 B. Project compliments natural assets 0 C. Project does not benefit natural resources -2 D. Project is a detriment to natural resources

  4. Goals and Objectives • PEOPLE • New Goal P-19: Support the changing needs and preferences of housing with respect to current and projected demographic shifts within the New River Valley. • Objective: Collect data related to aging in place within the region • Objective: Develop training programs to develop worker skills in retrofitting and updating existing housing stock

  5. Goals and Objectives • Business/Industry and Employment • Goal BI-2: To increase the number of jobs created through entrepreneurial start-ups and expansions in the New River Valley • Objective: Optimize existing resources for entrepreneurs and promote collaboration between those resources (SBDC, VTKnowledgeWorks, NRVCC, etc.) • Objective: Increase small business support services through provision of community e-commerce space as well as trainings (social media, computer, etc.) and connections between interns and employers.

  6. Goals and Objectives • Business/Industry and Employment • Goal BI-3: To increase the development and support of local family farms • Objective: Encourage cooperation between farmers and their public and private sector partners. • Objective: Support local foods as part of economic growth and diversity

  7. Goals and Objectives • Business/Industry and Employment • Goal BI-7: To strengthen the economic position of downtown commercial districts • Objective: Support downtown revitalization goals within each New River Valley community.

  8. Goals and Objectives • NATURAL AND CULTURAL RESOURCES • Rearranged to four goals centered on: • Tourism • Land Use • Culture/Education • Regional Identity

  9. Goals and Objectives • NATURAL AND CULTURAL RESOURCES • Goal NR-2: To manage the impacts of existing and future development in order to preserve the character and quality of the regional environment • Objective: Encourage a wide variety of development patterns, with emphasis on density, to preserve regional character • Objective: Minimize the effect of existing and future polluting industries • Objective: Centralize marketing of energy efficiency options.

  10. Goals and Objectives • Goal NR-2: To manage the impacts of existing and future development in order to preserve the character and quality of the regional environment • Objective: Create incentives for energy retrofits for homes and businesses while supporting renewable and alternative energy options • Objective: Centralize marketing of energy efficiency options • Objective: Create incentives for energy retrofits for homes and businesses while supporting renewable and alternative energy options.

  11. Goals and Objectives • Physical infrastructure • Goal PI-2: To ensure adequate, reliable, and safe delivery of all utilities in the new River Valley. • Objective: Create utility standards for service providers to follow and coordinate public digging to minimize costs and disturbances • Objective: Encourage renewable energy generation as a sustainable option for New River Valley Energy Infrastructure (i.e. wind, solar, landfill methane capture, cogeneration facilities, etc.)

  12. Goals and Objectives • Physical infrastructure • Goal PI-4: To improve the region’s telecommunications network to attract new firms, assist existing firms, and educate citizens. • Objective: Enhance or replace obsolete telecommunications infrastructure.

  13. Goals and Objectives • Physical infrastructure • Goal PI-6: To assure that the region has a diverse and ample supply of housing to meet the needs of people in all income ranges and lifestyles. • Objective: Support opportunities for affordable housing in close proximity to major employment centers. • Objective: Encourage a range of housing options that meet the housing needs and preferences across a person’s lifespan.

  14. Goals and Objectives • Physical infrastructure • Goal PI-9: To increase the mobility of the region’s citizens, with particular focus on affordability • Objective: Encourage community design that fosters active living.

  15. NRVPDC Economic Development Program • Economic Development Administration • Comprehensive Economic Development Strategy (CEDS) • Transportation Equipment Manufacturing Competitiveness Initiative (TEMCI) • Regional Data • Technical Assistance • Floyd Commerce Park Multi-Tenant Facility

  16. Staff Support Roles:Economic Development • New River Valley Development Corporation • Revolving Loan Fund • $50,000 to four businesses in 2011 • Competitiveness Center Marketing • NRV Economic Development Alliance Prospect Team • Virginia’s First Industrial Facilities Authority • Commerce Park

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