GO Virginia Region 2 Growth and Diversification Plan, August 2017
Virginia Tech Office of Economic Development
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GO Virginia’s objectives, as set by the state, are simple and provide a clear path for action. The program seeks to grow jobs that pay higher than the regional median wage, primarily through investment that is new to Virginia. This requires a focus on industries with high growth potential, featuring in-demand occupations with higher wages. This Growth and Diversification plan, written for GO Virginia Region 2, provides a roadmap for utilizing GO Virginia funding for projects across this region, which includes the Lynchburg, New River Valley, and Roanoke-Alleghany sub-regions. Each of these areas has a strong history of local cooperation, and some experience with interregional collaboration, primarily between the New River and Roanoke Valleys. Together however, they all share many economic similarities: traditional industry strengths in manufacturing, transportation, and agriculture; emerging technology sectors; mixed urban and rural characteristics; and higher education and health care as economic and employment drivers. This plan documents the concentration of different industries across this footprint, their job growth rates compared to the nation, their contributions to gross regional product, the number of higher than median wage jobs available in these industries, and assets unique to the region that drive opportunity.