Priority Target Sectors

In order to make the most informed decisions regarding Project funding, the GO Virginia Project Team developed a set of Targeted Industries supported by a Strategic Framework. The team conducted research identifying what makes Region 8 economically competitive and how to enhance opportunites for job growth in industries with high paying wages.

Strategic Framework – Broad, primary focus areas

Business Scale-Up

An environment in which company growth and profitability is fostered beyond the start-up phase is essential to a dynamic and stable economy is . The ability for businesses to scale-up and increase their employment base, in turn, helps to build industry clusters and create synergies across the region.

Site Development

The Region’s ED Ad Hoc Committee has cooperatively undertaken some important steps to identify and enhance site preparation, beginning with site characterization work.

Talent Development

A talented workforce is critical for employers and communities to achieve long term success and growth. Talent development opportunities aim to attract, develop, and retain a productive workforce that aligns with the demands of the region’s businesses.

Start-Ups

Economists believe that up to 80 percent of economic growth is rooted in new knowledge – innovation. Entrepreneurship is important because it is often the carrier for innovation; many new ideas come to the market through entrepreneurial firms.

Targeted Industries – Specific areas of focus for economic development initiatives

Target Industries were selected based on quantitative and qualitative information, to be the future focus for economic development initiatives in Region 8. The sectors were chosen based on a wide list of criteria with a heavy emphasis on the following criteria outlined in the GO Virginia Initiative:

Industries in the sector have high earnings potential for workers.

Industries in the sector are export-oriented.

Industries in the sector demonstrate strong current or projected employment growth.

Click the image below to learn more about each Targeted Industry