Economic Development
Economic development (ED) promotes long-term regional stability and prosperity and is one of the focuses of PlanRVA’s work. Through the guiding framework of the Comprehensive Economic Development Strategy (CEDS), PlanRVA works collaboratively with the region’s stakeholders to foster a dynamic, resilient, and inclusive economy that benefits all its residents.
Economic development in the PlanRVA region encompasses a wide range of initiatives, from public investment in infrastructure to human capital such as enhancing family support, strengthening pre-school and K-12 education, and providing pathways for vocational training and higher education. By building a stronger, more skilled work force, the region positions itself to achieve sustainable growth and remain globally competitive.
Achieving the goals of economic development in the region requires the collaboration of a broad range of stakeholders across the public and private sectors. This includes local governments and leaders, Crater Planning District Commission which is also within the Richmond Metropolitan Statistical Area (MSA), local economic development offices, educational institutions, nonprofits, industry leaders, and many other partners.
These partnerships are further strengthened through larger regional, state, and federal initiatives like GoVirginia, which promotes economic development across localities, and the Southern Crescent Regional Commission. This collaborative approach ensures that economic development is not only inclusive but also adaptable to future challenges.
PlanRVA is not currently designated by the U.S. Economic Development Administration (EDA) as a regional Economic Development District (EDD). PlanRVA plans to explore EDD designation following the CEDS update.
Regional Indicators - Economic Development
PlanRVA and other regional partners are working together to collect and present a set of housing, economic, and other data on a dashboard for use by the public, localities and organizations. Once ready, this data will be posted on a Regional Indicators Dashboard website.
This data tracking effort will allow the region to measure progress over time as part of the regional effort to create and activate an Action Framework for Equitable Economic Mobility. Work on this effort is supported in part by technical assistance from the Urban Institute, whose Upward Mobility Framework identifies five essential pillars that support mobility from poverty, including opportunity-rich and inclusive neighborhoods (which includes housing affordability and transit access), high quality education, rewarding work, healthy environment and access to good healthcare, and responsible and just governance.
Southeast Crescent Regional Commission
The Southeast Cresent Regional Commission (SCRC) is a new Federal regional commission focused on economic development and antipoverty programs across the southeast crescent of the U.S. from Virginia to Florida. SCRC provides funding through grants to support its Strategic Goals. In Virginia, these goals are:
- Invest in critical infrastructure
- Improve health and public service access and outcomes
- Strengthen workforce capacity
- Foster entrepreneurial and business development activities
- Expand affordable housing stock and access
- Invest in critical infrastructure (such as water, sewer, and digital infrastructure)
The Virginia Department of Housing and Community Development (DHCD) is responsible for administering the SCRC program in Virginia. DHCD coordinates with PlanRVA and other Planning District Commissions to identify regional issues and gauge the need for SCRC resources. DHCD encourages potential grant applicants to coordinate with PlanRVA prior to grant submission. In 2023, PlanRVA provided support for organizations and localities applying for SCRC’s State Economic and Infrastructure Development (SEID) grant program.
Check out each state’s plan in the SCRC here. Further information about SCRC grant programs can be found here.
GO Virginia: Virginia Initiative for Growth and Opportunity in Each Region
PlanRVA member localities are located within GO Virginia Region 4, which is one of nine Regions in Virginia. Each Region encourages cooperation among business, education and government entities to enhance economic collaboration, private sector growth and opportunity, and alignment of workforce development programs with employer’s needs.
Learn more about Region 4’s Growth and Diversification Plan and about GO Virginia grant opportunities here.
