Reports, Center for Economic and Community Engagement
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Browsing Reports, Center for Economic and Community Engagement by Author "Ferris, William N."
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- Advanced Manufacturing and IT in the New River Valley: Impacts of COVID-19 and Supply Chain ShocksFerris, William N.; Travis, Elli; Tate, Scott; Boswell, Katie (Virginia Tech, 2022-08)In 2020, Onward NRV partnered with the Virginia Tech Center for Economic and Community Engagement (CECE) to determine how Advanced Manufacturing and IT firms in the region were affected by COVID-19 and how these firms felt about their prognosis regarding the next year. To accomplish this, CECE developed surveys designed to generate insight into how businesses were faring. There were 21 manufacturing survey responses and 24 information technology survey responses. CECE also conducted interviews with representatives from two Advanced Manufacturing and two IT firms to generate additional insight. At that time, close to two-thirds of Advanced Manufacturing and IT firms expected to retain their employees. Sixty-two percent of manufacturers had unfilled production worker and engineer positions, and thirty-eight percent of tech companies needed software engineers, account executives, and production schedulers. Businesses in both sectors generally maintained positive outlooks for the following year. The most significant concern among companies at the end of 2020 was the health and safety of employees. In 2022, two years after the initial survey, CECE followed up with Advanced Manufacturing and IT firms to see how these businesses were faring. Follow-up survey responses suggest that regional Advanced Manufacturing and IT companies have performed strongly since the onset of the pandemic. Relative to pre-pandemic levels, most firms—83% of technology firms and 75% of manufacturing firms — report maintaining or increasing the number of employees at their firm; payrolls have held steady or increased for approximately 90% of firms in both sectors, and firms report similar or increased revenues. Manufacturing and technology firms correspondingly report positive outlooks. Onward NRV and CECE also conducted semi-structured interviews with firms from each sector to shed additional light on business prognoses and experiences doing business in the New River Valley. Findings from interviews paralleled those expressed in surveys.
- Controlled Environment Agriculture Strategy and Roadmap in GO Virginia Region 3Ferris, William N.; Tate, Scott; Travis, Elli; Ulaky, Allison (Virginia Tech, 2023)On behalf of the Institute for Advanced Learning and Research, and with support from an Enhanced Capacity Building award from GO Virginia Region 3, the Virginia Tech Center for Economic and Community Engagement (CECE) conducted a study to assess the economic growth potential for the controlled environmental agriculture (CEA) industry in Region 3, and the state of Virginia. CEA, as a sector, is poised for additional growth. CEA refers to the utilization of technology and automation to enhance the indoor growing conditions for crops, fish, and related products. The industry is projected to grow 10.32% annually, reaching $239.8 billion by 2027.
- IT and Emerging Technology in GO Virginia Region 2: Situation, Challenges, and the Road ForwardFerris, William N.; Travis, Elli; Quina Weber-Shirk (Virginia Tech, 2022)In this short whitepaper, we discuss the present conditions and performance of the IT and emerging technology industries in Region 2. We begin with an overview of the sector, discussing both IT occupations, and IT companies. In section two, we present two key issues: capital and talent, before concluding with a discussion of talent attraction and retention and higher education-based solutions. This document is meant to guide the IT and Emerging Technology GO Virginia Region 2 working group in the identification of additional strategies and programs to improve high wage jobs in that sector.
- Star Theatre Feasibility StudyFerris, William N.; Friedman, Kit; Schwartz, Jason; Seo, Hye-Jeong; Ulaky, Allison (Virginia Tech, 2023-02-28)Graduate assistants with the Virginia Tech Center for Economic and Community Engagement (CECE) worked with the Town of Stuart, Virginia to conduct a feasibility study regarding purchase and operation of the Historic Star Theatre. First opened in 1947, the Star Theatre screened films and hosted live entertainment, drawing in locals and out-of-town visitors to the historic venue. With the theater newly renovated, the purchase of the historic facility could provide the town with a cultural anchor that would serve as a community-oriented center for concerts, movies, town gatherings, and other events, while simultaneously supporting Stuart’s historic downtown redevelopment effort.
- West Piedmont Agritourism & Agribusiness Regional Economic Impact Study and Marketing StrategyPosthumus, Ashley; Ferris, William N.; Friedman, Kit (2023-05-31)In Fall 2022, the West Piedmont Planning District Commission hired a team of community and economic development consultants from The Virginia Tech Center for Economic and Community Engagement, Arnett Muldrow & Associates and Ramble Type Digital to assist with the development of an Agritourism, Agribusiness and Agricultural Products Regional Economic Impact Study and an Agribusiness Marketing Plan.