RD196 - University of Virginia Annual Report Economic Development Action Plan - FY10


Executive Summary:
BACKGROUND

As part of the restructuring management agreement with the Commonwealth, the University of Virginia (U.Va.) is required to establish a formal partnership with an economically distressed region in Virginia, and to “work meaningfully and visibly” to stimulate economic development in that region. U.Va. has selected the Coalfield region and is partnering with the University of Virginia’s College at Wise and the Virginia Coalfield Economic Development Authority (VCEDA) in this effort.

The Coalfield region is defined as the area encompassed by VCEDA (Planning Districts 1 and 2). It includes the city of Norton and the counties of Lee, Scott, Wise, Dickenson, Russell, Tazewell, and Buchanan.

REPORTING REQUIREMENTS

The University submitted an economic development action plan to the Governor and General Assembly on December 20, 2006. In accordance with Article 2, Section 2.2.1, Part 3, U.Va. is required to submit a report to the Governor and General Assembly by September 1 of each year, outlining its progress in implementing the action plan during the prior fiscal year. This report covers activities for July 1, 2009 – June 30, 2010 (FY10). It is the fourth annual progress report submitted to date.

ACTION PLAN SUMMARY

Leaders in Southwest Virginia are focused on transforming their economy from one centered mainly on tobacco, coal, and timber harvesting to one that includes information technology, education, health care, and energy. Citizens of this “e-region” (energy, education, electronic information technology) have made notable progress. To attract companies, local leaders recognize that they must have an infrastructure that includes an educated workforce, business acumen, and widespread access to medical care.

This context was used in developing U.Va.’s action plan. The three main categories for collaboration between U.Va. and Southwest Virginia include Access to Health Care, K-12 Education Support, and Business Support. A website dedicated to this collaboration can be found at: http://www.virginia.edu/vprgs/industry/southwestva.html