Economic Development
Economic development (ED) promotes long-term regional stability and prosperity and is a key focus of PlanRVA’s work. Guided by the framework of the 2014 Comprehensive Economic Development Strategy (CEDS), PlanRVA works collaboratively with the region’s stakeholders to build a dynamic, resilient, and inclusive economy that benefits all its residents.
The 2025 CEDS update is made possible by a Planning Grant from the Economic Development Administration of the US Department of Commerce.
What is a Comprehensive Economic Development Strategy (CEDS)?
The CEDS is guided by a Steering Committee made up of locality economic developers, educators, workforce practitioners, regional and non-profit partners and business & industry.
Key Components of CEDS
- Demographics
- Regional Economy
- Education
- Workforce Development
- Community Infrastructure
- Housing
- Resiliency
How does the CEDS fit in with other regional planning efforts?
Data
- Socioeconomic Data 2017-2050
- Pathways to the Future-Scenario Plan
- Upward Mobility Framework
Plans
- Target Industry Cluster Analysis (GRP)
- PHA Regional Housing Framework
- GoVA Growth and Diversification Plan
- Long Range Transportation Plan 2050
Performance
- RVA Rising—Performance Metrics
Implementation
- Transportation & infrastructure funds
- EDA and other support
- Locality CIP & funding
To learn more about the 2025 CEDS update process, including the project timeline, please click here.
PlanRVA also engages in state and federal initiatives, including the Southeastern Crescent Regional Commission (SCRC) and the State Economic and Infrastructure Development (SEID) grant program. SEID was administered through the Virginia Department of Housing and Community Development (DHCD), and PlanRVA provided application support for eligible applicants. The Maggie Walker Community Land Trust was one of four successful applicants in 2023-2024 for their Oakwood Grove affordable townhomes project in Richmond’s Southside.
PlanRVA partners with GO Virginia, which promotes economic development across nine regions in Virginia. Region 4, which includes PlanRVA member localities, fosters collaboration among business, education, and government to support private sector growth and workforce development. Learn more about Region 4’s Growth and Diversification Plan and grant opportunities here.
PlanRVA’s collaborative approach with a vast array of partners ensures that economic development is not only inclusive but also adaptable to future challenges.