Women Leading Lynchburg’s Economic Growth

A collaborative, female-led team is shaping the region’s future

By: Olivia Carter / In the photo above from left to right, Marjette Upshur, Director of Economic Development & Tourism for Lynchburg, Megan Lucas, CEO of the Lynchburg Regional Business Alliance and Christine Kennedy, COO of the Lynchburg Regional Business Alliance

The Lynchburg region stands out in economic development as it has a predominantly female-led team—a rarity both statewide and nationally.

“To have a regional economic development team that is predominantly female is rare,” said Megan Lucas, CEO of the Lynchburg Regional Business Alliance. “It’s not a scenario where localities are specifically looking for female economic developers, it just so happens that the experienced professionals in this region are female.”

Christine Kennedy, COO of the Lynchburg Regional Business Alliance, said the women are all collaborative and debunked stereotypes about competitive tensions among women in leadership.

“You hear this a lot, that powerful women don’t get along in the boardroom. But in this region, we have all worked together for a while and we trust each other,” she said. “We trust that we have each others’ backs when it comes to projects and work. It’s not competitive, it’s collaborative. And I think that’s the multiplier effect we see in the region.”

Looking ahead to 2025, the economic development team is focused on several key initiatives, including talent retention and workforce development.

“Our focus is ‘brain gain’,” Lucas said. “Retaining college students in the region, retaining young talent, and helping professionals grow so they stay in the region. We really have to focus on talent opportunities and growth. That’s the priority for this region in 2025.”

Kennedy said there is a new recruitment website aimed at attracting outside talent.

“Without talent and workforce, we can’t grow and expand,” she said. “One major project this year will be building a recruitment website for the region to attract outside workers. We’re also continuing initiatives like the Educator Workforce Academy, which informs educators about in-demand, high-wage jobs and the Worlds of Opportunity Career Expo for middle schoolers, where they get hands-on experience with manufacturing and other key industries.”

In addition to talent development, the region is making strides in industrial growth, particularly in the nuclear energy sector.

“Our fastest-growing sector is manufacturing, specifically nuclear energy,” Lucas said. “We are America’s cradle for all things nuclear and, in 2025, we will continue to grow and expand that industry.”

Lucas and Kennedy both credit the success of the Lynchburg region to its collaborative spirit and dedicated professionals.

“We sink or swim together and we’re fortunate to work in a region that values collaboration, convening and championing for industry,” Lucas said.

Throughout her career in the private and public sectors, Marjette Upshur, Director of Economic Development & Tourism for Lynchburg, has often been among the few women in the room. Today, she said she’s fortunate to work alongside a network of strong, competitive and collaborative women leaders driving economic progress across the region.

“Together, we are building an economy that works for everyone through strategic collaboration, innovative thinking, and an unwavering commitment to progress,” she said. “By fostering growth, breaking down barriers and strengthening partnerships, we are shaping a more connected, resilient and thriving regional economy.”

The City of Lynchburg is removing barriers to business growth through strategic investments in site readiness and infrastructure improvements.

“In 2025, we are enhancing utilities and accessibility at publicly owned sites to make them more attractive and accessible for new and expanding businesses,” Upshur said. “These investments ensure Lynchburg remains competitive, business-ready, and positioned for long-term economic success.”

Supporting existing businesses is just as critical as attracting new ones. Over the past 12 to 18 months, major employers like Framatome and Delta Star have announced significant expansions in Lynchburg.

“Our role doesn’t end at the ribbon-cutting,” she said. “We continue to provide long-term support, ensuring that local companies have the resources, workforce, and infrastructure to sustain and accelerate their growth. By investing in infrastructure, strengthening workforce pipelines, and expanding strategic partnerships, we are laying the foundation for a city that attracts investment, supports innovation, and enhances quality of life.”

Lynchburg’s approach to business recruitment and retention includes investing in site readiness, strengthening employer relationships, targeted business recruitment, and elevating tourism and destination marketing.

Nina Rezai, Director of Economic Development for Campbell County, said she has observed a shift in gender representation within the field of economic development.

“When I went to my first statewide economic development event, I noticed that even though, on a monthly basis, I meet with our group of women in the region, the room was still very 50/50,” she said. “But the older people there—the ones in the meetings and in association events—were all men. It looked to me like it used to be completely a men’s industry and now women are definitely finding their space in it.”

While women have taken on leadership roles in economic development at the regional and local levels, Rezai said that the field of commercial and industrial development remains male-dominated.

“When we meet as the leaders of economic development, we’re all women. Occasionally, there’s one man in the room with us,” she said. “But when we’re out on prospect visits, plant tours, and meetings with developers, we’re often still the only women at the table.”

One of the most significant projects in the county underway is the construction of a 100,000-square-foot speculative (spec) building, the largest county-funded spec building in the region. A 45,000-square-foot spec building is also planned for Seneca Commerce Park.

“Construction will take place through 2025, with one building finishing before the other,” she said. “As soon as the footings are poured, we’ll be heavily marketing these spaces to attract new investment.”

Ready-to-use industrial spaces available in the county are crucial to attracting businesses.

“We respond to prospects as best we can, but we’re more likely to secure one when we actually have a space for them to move into,” she said.

Campbell County’s investment is part of a broader regional effort to increase industrial inventory.

“We’re probably building the largest county-funded spec building right now,” she said. “But the great thing about our region is that communities have identified areas for industrial parks.

While progress has been slow, development is happening and in the next several years, we’ll start seeing the benefits of it.”

Pam Armstrong, Bedford County’s Economic Development Director, echoed what her fellow colleagues stated in that the women-led industry is “happenstance.”
“I don’t think that’s necessarily the norm.

The Virginia Economic Development Partnership is an awesome organization that has men and women of all ages and races,” she said.

Armstrong is collaborative but competitive when it comes to representing her own county and attracting new businesses.

“It doesn’t really benefit the region to take a company from somewhere else, but I’ll be competitive,” she said. “I might write a letter of recommendation for you to get a grant, but I’m going to roll up my sleeves if I’m competing for a company to come here,” she said.

To attract new businesses, Armstrong stressed the importance of having available land and infrastructure.

“In order to recruit businesses, you’ve got to have something. You’ve got to have that carrot to dangle and that is land and sites and available buildings. So that’s what we’re working on right now. And I would say there’s a big region-wide focus for that,” she explained.

She pointed to past and ongoing efforts to create industrial sites in the county.

“Several years ago, we built the shell building in New London. That is where Belvac is now. So when Belvac needed to expand, they were landlocked in Lynchburg, so they were able to expand into Bedford County and they have a lease on our building out there,” she said.

More developments are on the way.

The county has plans to extend Meade Road further and create two larger sites in phase two of the New London expansion.

Bedford County has a strong industrial base, particularly in manufacturing, including Sentry Equipment, Belvac, SML Packaging, and Simplimatic Automation. Her ultimate vision for Bedford County is that everybody has a job and for the companies to have what they need in terms of workforce, housing, and infrastructure.
“My job as an economic developer for the county is to market the region and also be a good listener and to help companies be successful,” Armstrong said. “I always like to say, ‘I’m either here to help or get out of the way.’”

Victoria Hanson, Economic Development Director for Amherst County, said it just goes to show how successful a region can be when it is women-led.
“There has been a lot of transition in economic development, from being mostly male dominated to now having a lot of female leadership, maybe even more than 50 percent. I think our region highlights just how successfully a region can be led by women,” she said.

The women all share information, collaborate, and work like a team.

“I’ve heard of other localities where there’s a lot of infighting, but that’s not the case in the Lynchburg region. We have excellent leadership with Megan Lucas; she is very collaborative and makes sure everyone stays in communication,” Hanson said. “We have monthly meetings and I’ve been very pleased with how open and willing people are to share information.”

Every locality wants jobs to come to them, but ultimately, regional success benefits everyone, she said.

“When a business looks at our region, they’re not just looking at one locality; they want to know about the skilled workforce across the entire area,” she said.
Hanson said 80 percent of new jobs come from existing businesses.

“If we don’t have space for them to expand, they’ll go elsewhere. So while we’re always trying to attract new businesses, we first want to take care of the ones that are already here,” she said.

Overall, Amherst is heading in a very positive direction, she said.

“We’ve seen a lot of new economic activity in housing, retail, and job creation. For example, the Madison Heights Town Center is the largest planned community in the history of Amherst County, which is huge for us. It’s right in the heart of Madison Heights and includes plans for 100 housing units, 70,000 square feet of commercial space, and a 13-acre park, all within 80 acres,” she said.

Another big focus for the county has been site development.

“We’ve never had a large industrial building before, but we knew we needed one. So we finally completed an $8 million, 50,000-square-foot modern industrial building with 36-foot ceilings and room to expand by another 20,000 square feet. It can house one to four businesses, depending on space needs,” Hanson said.
In addition, the Monacan Indian Nation is building a new 13,000-square-foot health center. Amherst is also developing the largest infill site in the county—545 acres of industrial land that could support up to a million square feet.

Called the Dillard Site, the land has gas, rail access, and a high-power transmission line “It’s been designated a Major Employment and Investment (MEI) project, which could be a game-changer for Amherst County and the entire region,” she said.