Meeting the Moment,Shaping the Future: A Decade of Economic Dialog

Southwest Virginia is preparing for a crucial event designed to stimulate economic growth and strengthen regional partnerships. The Tenth Annual Southwest Virginia Economic Forum, themed “Meeting the Moment, Shaping the Future,” is scheduled for May 22, 2025, at the David J. Prior Convocation Center at the University of Virginia’s College at Wise (UVA Wise). This year’s forum marks a critically important milestone: a decade of dedicated effort to unite regional and state stakeholders in addressing the economic well-being of Southwest Virginia.

This forum acts as a vital platform for individuals and organizations deeply invested in the region’s economic future. It provides opportunities for meaningful discussions, valuable networking, and the sharing of insights into critical economic trends. To ensure broad participation, the forum offers both in-person and virtual attendance options.

Expert Insights: Economic Landscape and Demographic trends

The forum’s agenda features a lineup of prominent speakers, including Christine Chmura, Ph.D., CEO and Chief Economist of Chmura Economics & Analytics. Dr. Chmura brings a wealth of experience, including her previous roles as chief Economist at Crestar Financial Corporation and as an economist at the Federal Reserve Bank of Richmond. during the “state of the Region” session, she will provide a comprehensive overview of the region’s economic landscape and its projected future.

Dr. Chmura’s analysis is especially relevant given the current economic climate in the United States. Her expertise offers crucial insights into how national trends impact regional economies like Southwest Virginia. Understanding the effects of factors such as inflation, rising interest rates, and ongoing supply chain disruptions on local businesses and industries is essential for informed decision-making by local leaders and business owners.

hamilton Lombard, Estimates Program Manager for the Demographics Research group at the University of Virginia’s Weldon Cooper center for Public Service, will offer an in-depth look at regional demographic trends. Lombard’s work focuses on analyzing and interpreting the demographic shifts that are shaping communities across virginia. His expertise in producing Virginia’s county and city population estimates and projections is vital for guiding the Commonwealth’s planning and funding decisions.

Demographic trends are critical for understanding the future workforce, housing needs, and overall economic health of Southwest Virginia. For example, understanding the aging population and potential workforce shortages can definitely help local leaders develop strategies to attract and retain younger residents and skilled workers.This might include investments in education, infrastructure, and quality-of-life amenities.

Panel Discussions and Breakout sessions: Addressing Key Challenges

The forum will feature a series of panel discussions and breakout sessions designed to address specific challenges and opportunities facing Southwest Virginia. These sessions will cover a range of topics, including:

• Showcasing Natural Beauty and Outdoor Activities: Highlighting the region’s hiking trails, outdoor experiences, and camping opportunities to boost tourism.
• Promoting Affordable Housing: Addressing the housing needs of younger generations to attract and retain talent.

dr. Evelyn Reed, a leading expert in rural economic development, shared her insights on the top three strategies for revitalizing downtowns, fostering community resilience, and boosting tourism. According to Dr. Reed, these strategies are:

• Downtown Revitalization: “prioritize smart city initiatives focused on improving infrastructure and connectivity. encourage the development of mixed-use spaces that combine residential,commercial,and cultural elements to create vibrant,liveable areas.” This approach aligns with triumphant downtown revitalization efforts across the U.S., such as the revitalization of downtown Greenville, South Carolina, which focused on creating a pedestrian-friendly environment with a mix of shops, restaurants, and residential units.
• Community Resilience: “Implement disaster preparedness plans and establish emergency funds to help communities recover quickly from economic shocks. Ensure access to food, infrastructure, and basic interaction during a crisis.” This is particularly crucial in rural areas, which might potentially be more vulnerable to economic downturns and natural disasters. The creation of community resilience funds,similar to those established after Hurricane Katrina,can provide crucial support to local businesses and residents in times of need.
• Tourism: “Develop targeted digital marketing strategies that highlight Southwest Virginia’s unique experiences and connect with potential visitors.” This includes leveraging social media, search engine optimization (SEO), and online travel agencies to reach a wider audience. Such as, a targeted campaign could focus on attracting outdoor enthusiasts to the region’s hiking trails and state parks, similar to the successful “Pure Michigan” campaign that boosted tourism in Michigan.

Virginia Rural Center’s Opportunity Dashboard: A New Tool for Economic Development

The Virginia Rural Center is introducing its Opportunity Dashboard, a digital tool designed to significantly impact the economic development landscape of rural Virginia. Dr. Reed emphasized the transformative potential of this tool, stating that it “provides access to real-time economic data and funding opportunities, all under one roof.”

Local stakeholders should prioritize the following key data points:

• “Data on employment rates and wage levels to determine the needs of their communities.” This data can help identify skills gaps and inform workforce development programs.
• “Details on available grants and loans.” Access to this information can help local businesses and organizations secure funding for projects that promote economic growth.
• “Statistics on local small business start-up rates and the progress of current local industry-leaders.” This data can provide insights into the entrepreneurial ecosystem and identify opportunities to support existing businesses.

the Opportunity Dashboard is similar to other successful economic development tools used across the U.S., such as the Economic Development Management’s (EDA) StatsAmerica platform, which provides data and analysis to support economic development planning.By providing access to comprehensive data and resources, the Opportunity Dashboard can empower local stakeholders to make informed decisions and drive economic growth in Southwest Virginia.

Humor and Insights: Josh Mancuso to Emcee the Event

Adding a touch of humor and local perspective, Josh Mancuso, host of the “What About Wise” podcast, will serve as the emcee for the forum.Mancuso’s deep understanding of the region and his engaging personality will help to create a dynamic and informative event.

UVA Wise Chancellor Highlights Collaboration and Dialogue

UVA Wise Chancellor donna Henry emphasized the importance of collaboration and dialogue in addressing the economic challenges and opportunities facing Southwest Virginia. The forum provides a unique opportunity for stakeholders from different sectors to come together, share ideas, and develop strategies for promoting sustainable economic growth.

Regional Housing Symposium: Addressing Housing Challenges

Along with the main forum, a Regional Housing Symposium will be held on May 21, 2025, the day before the forum. This symposium will focus on addressing the housing challenges facing Southwest Virginia, including the need for more affordable housing options and strategies for revitalizing existing housing stock. This symposium is particularly timely given the national housing crisis and the unique challenges facing rural communities.

Registration and Contact Information

Registration for the Tenth Annual Southwest Virginia Economic Forum is now open. Interested individuals can register online or contact the UVA Wise Office of Economic Development and Engagement for more information.

unveiling Southwest Virginia’s Economic Future: A Decade of Insights with dr. Evelyn Reed

Dr. Evelyn Reed,a prominent figure in Southwest virginia’s economic development,has consistently provided valuable insights at the annual Economic Forum. Reflecting on the networking opportunities, Dr. Reed advised attendees to:

• “Come prepared with a clear agenda with specific goals.”
• “Identify those with whom thay want to connect.”
• “Follow up with those contacts.”
• “actively engage in conversations.”
• “Share and exchange ideas.”

These strategies are consistent with best practices for networking at professional events. By setting clear goals, identifying key contacts, and actively engaging in conversations, attendees can maximize their networking opportunities and forge meaningful partnerships.

Looking beyond the immediate takeaways of the forum, Dr. Reed shared her long-term vision for sustainable economic growth and prosperity in Southwest Virginia: “The key is a future that is diverse, innovative, and resilient. A future where the region’s natural beauty and strong community spirit coexist with thriving local industries,creating opportunities. Where the residents of Southwest Virginia are active in their jobs, in their neighborhoods, and are connected to each other. It is indeed a long-term investment of time and effort.”

This vision aligns with broader trends in economic development, which emphasize the importance of creating diverse and resilient economies that are able to adapt to changing conditions. By investing in education, infrastructure, and entrepreneurship, Southwest Virginia can create a brighter future for its residents.

Dr. Reed concluded, “It was my pleasure. I hope the insights are useful.”