One fact is becoming quite clear: Our region is expanding rapidly.
From the growth of arts and cultural activities to the redevelopment of beloved historic buildings, our region’s leaders have been working tirelessly to keep engagement and success growing in our area.
In our 2024 Market Report, read what’s on the horizon in the City of Lynchburg and Town of Bedford, as well as Amherst, Appomattox, Bedford, and Campbell counties in the coming year.
City of Lynchburg
Looking Ahead
1. Increase Sports Tourism Competitiveness
Through their efforts and partnerships, the City of Lynchburg has emerged as a prime destination for youth and adult amateur events, collegiate championships, and national sporting events. The Office of Economic Development & Tourism commissioned a Sports Tourism Strategic Plan in 2018 to take advantage of the sports facilities at our five colleges and universities and the LYH Parks & Recreation Department. This plan will be updated in
FY 24 to continue to build on the growth of the past five years.
The City of Lynchburg’s international sports tourism recognition is growing, too, with the city being named the Host City for the 2024 Professional Disc Golf Association (PDGA) Pro Worlds. In August 2024, the City of Lynchburg is anticipating 350 athletes and over 20,000 spectators; this event is expected to bring an economic impact of $6.4 million.
2. Lynchburg Lays the Foundation to Support the Nuclear Energy & Technology Industry
The City of Lynchburg is the headquarters of two powerhouse nuclear firms, Framatome and BWX Technologies. Lynchburg’s nuclear workforce is 8 percent above the national average, and our nuclear industry cluster is 34 percent larger than the national average, providing over 3,000 local jobs in the nuclear sector.
In recent months, the City of Lynchburg and its partners have been working together to support and grow the nuclear industry within the City. The City of Lynchburg and the Lynchburg Regional Business Alliance formed a consortium called the Lynchburg Regional NITCH (Nuclear Industrial Technology Commercialization Hub) to submit a proposal for the federal EDA Phase 1 Technology Hub Strategy Development Grant. This planning grant would help create strategies to advance and grow the nuclear technology sector and position the City of Lynchburg for significant economic growth.
2023 Successes
1. In May 2023, Governor Glenn Youngkin
announced that Delta Star, Inc., the largest American-owned medium transformer manufacturer in the United States and a leading manufacturer of mobile transformers in North America, has committed to a substantial $30.2 million investment.
The Virginia Economic Development Partnership secured the project with the Office of Economic Development & Tourism, the Economic Development Authority of the City of Lynchburg, and the Lynchburg Regional Business Alliance. Delta Star’s expansion involves a total capital investment of $30,150,000, including an 80,000-square-foot building expansion. Delta Star will maintain 460 existing jobs and create 149 new jobs with an average annual salary of $67,450.
2. The Office of Economic Development has received grants from GO Virginia Region 2 and the Virginia Business Ready Sites Program to move the Airport Commerce Park Regional Development and Ivy Creek Innovation Park forward.
Airport Commerce Park Regional Development
The GO Virginia board approved $190,000 in state funds for the project. The project funding will advance the Airport Commerce Park site from a Virginia Business Ready Sites Program characterization of Tier 2 to Tier 3 (Tier 5 being pad ready) to strengthen its competitive position in the global marketplace and attract companies specializing in advanced manufacturing and technology.
Ivy Creek Innovation Park
Lynchburg was awarded $261,750 from the Virginia Economic Development Partnership’s Virginia Business Ready Sites Program toward site development for “Sites A & B” in the Ivy Creek Innovation Park, which is currently owned by the Economic Development Authority of the City of Lynchburg.
3. In year three of the LYH Loves You brand campaign launch, the Office of Economic Development & Tourism has relaunched LYHLovesYou.com, a site dedicated to talent attraction and relocation information about the City of Lynchburg. The website content was designed to showcase the opportunities, people, and vibrant community assets that LYH has to offer. It features job information, top hiring industries, lifestyle, popular attractions and things to do, and stories from LYH Loves You ambassadors.
Appomattox County
Looking Ahead
Looking forward to 2024, the Economic Development Authority continues to work toward improved site readiness at the Appomattox Center for Business and Commerce. The Community Park, which services the local recreational needs of the county, continues to expand with new lighting, playground equipment and additional parking opportunities. The Community Park hosts local soccer, baseball, tee ball, frisbee golf, and walking/biking trails. The tourism team plans to enhance and upgrade the HistoricAppomattox.com tourism website. Phase II of the CTE Institute will continue to expand with the addition of more trades and beginning the renovation of the former elementary school auditorium into what will be known as the Appomattox Performing Arts Center (APAC).
2023 Successes:
1. Appomattox County saw the successful launch of the ACA CTE Institute, which will create a Workforce Development Center in Appomattox County.
The Institute will further offer training critical to Central Virginia’s robust advanced manufacturing industry sector in welding and fabrication.
2. The Institute is launching this fall an Emergency Medical Technician (EMT) course in partnership with CVCC. CVCC’s increased presence in Appomattox County and new relationship with ACA will improve knowledge of and promote complementary workforce and training programs.
3. The Appomattox tourism team has expanded
media marketing via increased spots on local television and social media advertising, which saw an increase
of 10% through its web advertising. Local tourism officials stated that the impacts of these expanded initiatives have been felt throughout the local economy.
Town of Bedford
Looking Ahead
In June 2023, the Town of Bedford, Virginia announced an agreement to bring the first-business class hotel to the Town of Bedford in Bedford County. At the Bedford Town Council meeting held August 22, 2023, developer DDay Omstay, LLC, revealed that the new hotel brand will be Hampton Inn by Hilton, a first-class hotel. The hotel is set to welcome guests by summer 2025. Additionally, the recently-approved residential subdivision at Independence Boulevard, to be called Eastyn Crossing, will include homes priced in the mid-$300,000s and other amenities such as a pavilion and playground. This project is being spearheaded by DBI Capital Group, LLC, and will bring in a regional builder.
2023 Successes
1. Four exciting projects are underway within the community. These projects include a proposed new Dunkin’ on East Lynchburg Salem Turnpike, a new Royal Farms in the Harmony Town Center, an approval of 130 housing units between Fuqua Mill Road and Independence Boulevard at Ole Dominion Boulevard, and the rezoning of the area surrounding the prospective Hampton Inn by Hilton hotel, which will be located on Burks Hill Road at Tiger Trail.
2. Josh Weeks, owner of Wicked Diesel on Orange Street in the Town of Bedford, made history in February by becoming the first Bedford County business owner to register with the Virginia Department of Labor and Industry’s (DOLI) Youth Registered Apprenticeship Program.
3. In 2023, Enterprise Zone investment by the EDA reached $40,805.90. This amount of grant support leveraged private
owner investment of $454,502 in downtown building renovations. In total since 2021, the Town EDA contributed $112,682.48 in return for $3,364,552 in private investment.
Bedford County
Looking Ahead
Bedford County is preparing an application for VDOT’s EDA design grant for the 460 intersection and to extend Meade Road for the Phase 2 of the New London Business and Technology Center. Bedford County is also hosting the Professional Disc Golf Association World Championship in August 2024 at the New London Business & Technology Center and in Ivy Hill in Forest. They are anticipating thousands of people to attend this event. Additionally, Parkland Direct, a high-volume lithographic print and custom envelope manufacturer, will invest $10 million to expand in Bedford County. The company will add 50,000 square feet to its facility to increase production capacity with the addition of two new converter and press machines. The expansion will create 41 new jobs.
2023 Successes
1. The Bedford County EDA was awarded a Virginia Business Ready Sites Program grant for the due diligence of phase 2 in the New London Business & Technology Center. The $63,750 grant is being used to study “phase 2” which consists of 174 acres inside the center. A revised Master Plan is included in this project and will bring the property from a Tier 2 to a Tier 3 site as regulated by the Virginia Economic Development Partnership (VEDP).
2. In the summer of 2023, Bedford County launched a new main website along with three new websites for the Sheriff’s Office, Fire & Rescue, and Parks & Recreation. The project included a completely new design for all four websites, new photography and content, as well as site reorganization.
3. Destination Bedford, Bedford County’s Tourism Department, launched the Bottled in Bedford Craft Beverage Trail in 2023, replacing the long-standing Bedford Wine Trail. It features 11 locations, which include wine, beer cider, and mead. Funding for Bottled in Bedford was made available through an American Rescue Plan Act (ARPA) grant designated specifically for tourism recovery in Virginia.
4. With the success of the Forest Farmers Market, the operator of that market opened the Moneta Farmers Market. The Moneta Market
is open on Wednesday afternoons from 3 – 6 p.m. during the summer months.
Amherst County
Looking Ahead
Developers have “discovered” Madison Heights and interest is exploding. With the proximity to downtown Lynchburg and the Rt. 29 Bypass/US 460, and lower land prices, developers see abundant opportunities. There are currently four projects in development which are projected to bring more than 2000 new rooftops. The Madison Heights Town Centre is 180 acres in the heart of Madison Heights that will be the largest planned community in Amherst County history. The Amherst County community would like more restaurants and retail options and the new housing will help bring those businesses.
2023 Successes
1. The Business 29 corridor has seen a new Starbucks open and construction is underway for Cookout and Dunkin Donuts.
2. Amherst County is the home of the Monacan Indian Nation, a federally recognized sovereign tribe of 2,600 citizens. They are building a 13,000 SF Health Center to meet the needs of their citizens, which is scheduled to be open in 2024.
3. The Johnson Health Center is constructing a 22,000 SF facility that will expand health care services and space and streamline multiple services under one roof scheduled to be completed in 2024.
4. The AEDA has begun construction on a $7 million, 45,000 SF industrial multi-tenant building in the Amelon Commerce Center to provide space for our existing businesses to grow and to attract other businesses.
5. Frank Good Builders has purchased a lot in the Amelon Commerce to expand his business and is planning to build a
$2 million, 10,200 SF corporate headquarters and warehouse.
6. The AEDA and CVCC are jointly funding a full time Career Technical Education (CTE) Career Coach who will assist Amherst County Public school students in understanding CTE career fields and how to attain training and certifications. The CTE coach will connect students to businesses to help meet the workforce needs of companies.
Campbell County
Looking Ahead
A new Comprehensive Economic Development Strategy (CEDS) will be completed, which will refine Campbell County’s focus with goals and strategies for the County by convening stakeholders and engaging the community and elected officials to recognize opportunities and brainstorm programs to benefit the economic climate of the locality. Additionally, with industrial building inventory lacking in our region, Campbell County seeks to create momentum around development beginning in Seneca Commerce Park, starting with the clearing and grading of 7.75 acres in Seneca Commerce Park with the intention of an eventual 100,000sf industrial building on that site. The VTC ARPA Tourism Grant provided significant funding for tourism development and marketing over the past two years. Economic Development looks forward to featuring these newly-developed assets throughout the region. Landing in the airport, staying in a hotel, or stopping at an out of area visitors center, you will be able to find information on something fun about Campbell County.
2023 Successes
1. 130 new businesses opened in 2023 in Campbell County. In its second year, the Start Small Campbell Grant continues to thrive with a retooled application process requiring more comprehensive business planning in coordination with the SBDC-Lynchburg Region.
2. In late spring, the department launched a social media presence providing a new pathway to be more visible and stay connected with existing and prospective businesses. Accounts on Facebook, Instagram, and LinkedIn allow the department to promote local businesses, available programming, as well as news and community events in the County.
3. Administered the $505,000 TRRC Precisions Agriculture and Farm Technology cost share grant. This program serves Campbell County as well as 19 other rural localities in VCE and the Tobacco Footprint. The program proved so popular among area producers, we are seeking additional funding in the hopes of serving farmers who had to be put on a wait list.