Virginia Alliance Sees First Fruits of 2002 Strategic Plan

A strategic plan issued in 2002 by the Fifth Planning District Regional Alliance in Virginia may officially have completed the first phase when the Alliance recently awarded $273,342 in grants and earmarked funds.

The Alliance, a group of government, business and educational leaders, promotes economic competitiveness in a Virginia region comprised of Alleghany, Botetourt, Craig, Franklin and Roanoke counties and five other town cities and towns. Its plan, Regional Economic Strategy, was released last July as an economic development strategy focusing heavily on science and technology-based initiatives (see the August 9, 2002 issue of the Digest).

For the 2003 program year, the Alliance's 41-member board of directors distributed funding to four projects:

• The New Century Technology Council (NCTC) was awarded $44,000 to create a targeted campaign to connect individuals who have moved away and college alumni from the region's colleges and universities to job opportunities in the region. NCTC will provide $59,000 in matching funds.
• The Roanoke Valley Convention & Visitors Bureau, receiving $46,000 to market the region, will provide $40,000 in matching funds.
• Dabney S. Lancaster Community College was awarded $33,342 to establish an Entrepreneur Resource Center in the Alleghany Highlands. This effort would help create jobs for individuals who were recently laid off due to the economic downturn. It also would assist unemployed and underemployed individuals by providing them with training and resources to start up their own businesses. The college is providing $24,721 in matching funds.
• The remaining $150,000 will go toward a regional branding project.

Regional Economic Strategy offers insight on the Virginia region's transition between the Knowledge Economy and the New Economy, stressing the importance of a knowledge workforce. For more information on the Alliance or to download the Strategy, visit: http://www.rvarc.org/alliance/