Written by the Staff of the Lynchburg Regional Business Alliance
As the Lynchburg region steps into the promising horizon of 2024, the region is poised for economic success, buoyed by a series of positive job announcements and a surge in capital investment. Companies are expanding here such as Delta Star, which is set to invest $30.2 million and create 149 new jobs, and Parkland Direct, which is adding 41 jobs with $10 million in capital investment. At the time of publishing, an anticipated additional 607 more jobs with $324 million in capital investment will soon be announced. But this success only happens with a robust foundation of strategic planning, with input from regional government and industry leaders. These leaders helped guide the creation of the Regional Economic Development Strategy and the Workforce Roadmap which are guiding the way.
The Regional Economic Development Strategy serves as a compass, steering the region toward sustainable growth by fostering a business-friendly environment and nurturing key industries.
“A thriving community requires a strong and diverse regional economy and it is the retention and recruitment of jobs and capital investment that have the greatest impact,” said Megan Lucas, CEO & Chief Economic Development Officer with the Lynchburg Regional Business Alliance. “Which is why we work diligently with local and regional economic development and workforce partners. This comprehensive strategy ensures that Lynchburg remains at the forefront of economic innovation and resilience.”
With four major goals and eleven key initiatives, the Regional Economic Development Strategy is a comprehensive, regionally focused economic development blueprint to guide the actions of the Alliance and its partners over the next five years. The plan is not subjective but is based on key findings from a multi-month process that entailed quantitative research, input from top community leaders, and the guidance of a diverse and dedicated steering committee. The Alliance credits the relationship with the local economic developers and municipal partners of Amherst, Bedford, and Campbell Counties; the Towns of Altavista, Amherst, and Appomattox; and the City of Lynchburg for 2023 success and our positive 2024 outlook for growth.
“The key to advancing critical regional opportunities lies in those relationships,” said Lucas.
According to Nina Rezai, Campbell County Director of Economic Development, and chair of the Regional Economic Development Team, “The vision of the strategy is to position our region among the nation’s top metros of our size.
The strategy is consistent with our aspirations and reflects the fact that our region has work to do to catch up with our highest performing peers.”
Crucial to this success is the emphasis on workforce development as evidenced by the number one goal in the Economic Development strategy which is to Develop, Retain, and Attract a Talented Workforce.”
The Alliance takes this goal seriously and created a new position to execute the newly developed Workforce Roadmap which is intricately designed to align the skillsets of the local workforce with the evolving demands of the job market. Whether the Alliance is working to retain existing companies or recruiting new industries, the workforce is one of the deciding factors for a company to expand or relocate. The new director of talent and workforce for the Alliance, Tori Gilmartin, will execute several programs, some new and some returning since the pandemic.
“I am excited for the return of The Worlds of Opportunity career expo, the region’s hands-on career fair for early high school students which is designed to introduce them to in-demand career fields. Worlds of Opportunity and Welding Wars are two annual workforce events to look forward to, but I am most excited about launching the Educator’s Workforce Academy, a Regional Workforce landing page, and fostering intern engagement,” said Gilmartin.
The Educator’s Workforce Academy is an exploratory program designed to give regional educators a behind the scenes intro into the workforce development system and the in-demand industries paying living wages, so that they can better point students to career opportunities in our region. The program is designed to eliminate the disconnect between industry and education and give our region’s students the best chance possible for success.
However, the true catalyst for Lynchburg’s 2024 growth lies in the strength of its partnerships. We will move the needle on workforce and talent development, with the collaboration of several workforce partners including Central Virginia Career Works and Go Virginia’s Region Two Council. Collaborations with businesses, educational institutions, and community stakeholders are the linchpin for sustained progress. These partnerships not only facilitate the implementation of strategic plans but also create a dynamic ecosystem where innovation thrives.
As we begin the new year, the Lynchburg region is not merely witnessing economic growth—it is orchestrating it. Positive job announcements, strategic planning, and collaborative partnerships position Lynchburg at the forefront of economic prosperity in 2024.
For more information or to get involved in the economic and workforce strategies, contact Megan Lucas at the Lynchburg Regional Business Alliance,
or visit LynchburgRegion.org.
