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TECH-BASED ECONOMIC DEVELOPMENT
…IN VIRGINIA’S REGION 2000
WHAT, WHY, AND HOW
Existing Business Retention and Expansion Forum
April 17, 2012
D Day Memorial Visitors Center, Bedford, VA
BACKGROUND
Q. What do we want to see in Region 2000 that
would support the growth of Technology
companies?
A. A place that looks a lot like the Corporate
Research Center at Virginia Tech.
WHAT THAT MEANT
A community that was conducive to the start-up
and growth of technology-based/wealth-creating
companies.
The right environment had to exist within the
community to achieve successful results.
Lack of attractive real estate.
Industry clusters not identified.
No real understanding of Intellectual Property issues
or Government Grant Programs.
No easy way for new or existing firms to work with
Universities on Research and Development needs.
IDENTIFIED OBSTACLES
Little or no broadband access to most of the region.
Cultural void within local government - disconnect
between traditional economic development and what
we wanted to accomplish.
IDENTIFIED OBSTACLES
No formal network for like-minded individuals.
GOALS
Technology Park Implementation Guide.
Identify top Technology-Based Industry Clusters.
Region 2000 Broadband Internet Study.
Launch initiative to connect existing companies
with Universities to address their R&D needs.
Create partnerships and events to address IP
issues and understanding of Government Grant
Programs.
GOALS
Create a partnership between Local Government
Council and Economic Development Council to
formulate a regional growth strategy with
Technology-Based Economic Development at its
core.
Create networking/education opportunities through
the Technology Council to build community.
ACCOMPLISHMENTS
Advanced Manufacturing
Energy
Healthcare
Wireless Communications
Creation of Technology Incentive Zones in multiple
localities and creation of region’s first Technology park.
Our leading Technology-Clusters are:
Wider broadband availability with all industrial/business
parks connected through Mid-Atlantic Broadband
Co-operative.
ACCOMPLISHMENTS
Facilitation of IP issues and Government Grant opportunities have led to new patents/contracts for firms and several successful SBIR/STTR Grant Awards.
The Center for Advanced Engineering was created to facilitate the R&D needs of local firms within our industry clusters. Today the CAER is a physical space of 30,000+ sq. ft. with a $17 million investment and is fully occupied.
ACCOMPLISHMENTS
We hold more than a dozen networking and educational events a year for the Technology community and partner with other organizations on many more.
Our partnership between Local Government and Economic Development has grown to include six organizations and is known as the Region 2000 Partnership.
NEXT STEPS
A Regional Entrepreneurship and Small Business
Development Strategy
Building the Pipeline.
Connecting the Resources.
Advocating for Entrepreneurs.
