The CSPDC recently updated Region 8’s Economic Growth and Diversification Plan. The Plan provides a blueprint to guide Region 8’s grant funding decisions, establishing a comprehensive strategy to strengthen the Shenandoah Valley’s economy through targeted investments in workforce development, entrepreneurship, industrial clusters, and site readiness.
The 34-locality region, spanning the CSPDC’s and the Northern Shenandoah Valley Regional Commission’s footprint, demonstrated strong economic momentum, with employment growing 4.4% over the past five years and average wages increasing 8.3% to reach $53,347. The region now supports over 253,000 workers across a diverse economic landscape.
The Plan identifies five targeted industries that are driving regional growth, collectively representing 56,158 jobs and accounting for more than one-third of recent employment gains:
- Agriculture & Value-Added Food
- Transportation & Logistics
- Manufacturing
- Life Sciences
- Information Technology & Emerging Technology
To support long-term growth of the targeted sectors, the Plan then develops economic strategies through GO Virginia’s Four Strategic Investment Priorities.
Talent Pipeline initiatives will increase skills availability, align career pathways with employer needs, strengthen regional talent retention, and attract workers to high-paying regional jobs.
Entrepreneurial Ecosystem strategies focus on filling early-stage funding gaps, supporting student entrepreneurship, and encouraging technology, innovation, and startup hubs throughout the valley.
Cluster Scale-Up efforts will build business-to-business connections, support expanding R&D capabilities, encourage sector partnerships, and increase access to capital for business growth.
Site Development investments will enhance the readiness of the region’s 75 business-ready sites, identify necessary infrastructure improvements, and explore opportunities for mega-site development through regional collaboration.
The GO Virginia Region 8 Regional Council will vote to adopt the Plan at their next meeting on October 28th. Once adopted, the Growth and Diversification Plan will be available at the GO Virginia Region 8 website.
GO Virginia is a statewide initiative that fosters private-sector growth and job creation through incentives for regional collaboration by business, education, and government. Region 8 encompasses 34 localities across the Shenandoah Valley, including the Central Shenandoah Planning District and Northern Shenandoah Valley Regional Commission.