ComprehensiveEconomicDevelopment Strategy

March 22, 2012

PRIORITY LEVEL 1 (8 pts.)• Water, sewer and communication utilities• Employment Creation/Retention -Technology and Industrial• Entrepreneurial/Small Business Assistance• Regional School & Educational Facilities & Programs• Local School & Educational Facilities & Programs• Housing Production• Technology Career Facilities• Clean Energy Projects• Tourism• Community Facilities• Marketing/Promotion of Assets (new)• Senior Care Facilities (3)• Transportation Planning (new)

PRIORITY LEVEL 2 (6 pts.) Primary/Arterial Roads (1) Passenger Rail and Airport Service Facilities for Protected Populations Comprehensive Community Development Employment Creation/ Retention-

Commercial (4) Mixed Use Development Central Business District Revitalization Green Infrastructure Projects and

Natural/Cultural Resources Protection (3) Interstate Public Transportation

Connections

PRIORITY LEVEL 3 (4 pts.)•Sheltered Workshop• Secondary Roads (2)• Community Centers/Recreation• Other Economic Development• Homeownership Program• Drainage/Flood Control (2)

PRIORITY LEVEL 4 (2 pts.) Other Housing Other Community Facilities Other Community Services Facilities Community Development Programs Drought Management (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.

Points3 A. If 10% or more above State average2 B. If 5 - 10% above State average1 C. If 1 – 5% above State average0 D. If equal to or below State average

Additional Criteria

• Relationship to Natural ResourcesPoints

5 A. Project sets aside land for conservation3 B. Project compliments natural assets0 C. Project does not benefit natural resources-2 D. Project is a detriment to natural resources

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

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.

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

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.

Goals and Objectives

• NATURAL AND CULTURAL RESOURCES– Rearranged to four goals centered on:

1. Tourism2. Land Use3. Culture/Education4. Regional Identity

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.

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.

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.)

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.

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.

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.

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

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