Vision:
Economy
The Overview
Vision | Making
a Difference in the Future
The Vision
Economy | Education
| Health & Safety | Quality of Life & Environment | Infrastructure
Governance | Leadership
Economic Vision
The Economy of the New Century Region is diverse and Globally
competitive.
Economic Strategies
Overall Strategy
Create
the New Century Regional Economic Development Council by General Assembly action to focus
on and oversee a regional approach to all aspects of economic development, including the
clustering of those industries likely to create new jobs and further investment in our
region.
Pursue
the establishment of a joint office of the Virginia Department of Economic Development and
Center for Innovative Technology at Virginia Tech to expedite the commercialization of
applicable research and other business prospects.
Form the
New Century Technology Council to work with higher education and technology-oriented
companies to increase job opportunities and technological research in the New Century
Region.
Establish
the New Century Presidents' Council to enhance the involvement from the region's colleges
and universities in public service and economic development that insures the best possible
ties between education and job creation. Membership includes the presidents of all
colleges and universities in the New Century Region, various leaders representing large
and small businesses and representatives from local governments.
Develop
an environment in the New Century Region which recognizes the importance of small business
and nurtures new business ventures by providing innovative support mechanisms.
- Establish an Entrepreneurial and Small Business Institute. The
Institute will help create a new commitment to small business by supporting owners of
small businesses and fostering entrepreneurial efforts that will provide for comprehensive
planning and encouragement of environmentally sound growth.
- Organize the New Century Region Research and Development Bank.
The bank would provide capital for small business and entrepreneurial financing needs not
met by existing programs.
- Create a Geographic Information System for the New Century
Region.
- Establish the New Century Region as a world leader in fiber
optics and wireless communication.
- Develop a regional intermodal (air, rail and highway) hub in
the New Century Region with consideration of Enterprise and Foreign Trade Zone
designation.
- Establish a National Center for Logistics Management,
Transportation/Distribution Education and Transportation/Technology Research.
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Higher
Education and Research Centers
- Strategy 1: Create a coalition, the New Century
President's Council (NCPC).
- Strategy 2: Coordinate Available Resources in the NCR's
Higher Education sector.
- Strategy 3: Establish an electronic source of "user
friendly" information maintained within and accessible throughout the Region.
- Strategy 4: Create a NCR Research & Development
"Bank" primarily for funding research and seed capital for launching new
enterprise.
- Strategy 5: Assure Adequate Funding for Higher Education
in the NCR.
- Strategy 6: Organize physical resources into an
"Information Park"
- Strategy 7: Establish an Entrepreneurial Institute in
the NCR.
Additional Strategy: Establish a joint office between
the Virginia Department of Economic Development and CIT on the campus of Virginia Tech to
expedite the commercialization of applicable research and to identify non-Virginia company
working with Virginia Tech who might be a prospect to locate in Virginia
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Manufacturing
- Strategy 1: Develop and implement a strategic technology
plan to modernize existing manufacturing companies and develop new directions for the
manufacturing base of the New Century Region.
- Strategy 2: Develop quality measures for the
manufacturing base of the New Century Region to improve and retain a competitive advantage
in the global economy.
- Strategy 3: Encourage the establishment of quality
standards in primary and secondary schools so that people don't get passed along just for
being a year older. Such standards will make for a better educated work force in the
future.
- Strategy 4: Maintain a highly-skilled work force in the
New Century Region that can sustain manufacturing's competitive advantage and increase
productivity growth in the economy.
- Strategy 5: Maximize public and private capital
investment in manufacturing infrastructure so that the New Century Region can enhance
manufacturing competitiveness in the global economy.
- Strategy 6: To encourage and assist companies in
becoming more competitive through growth of productivity by nurturing existing businesses,
increasing the level of training for employees and creating an alliance between government
and technical resources.
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Technology
- Strategy 1: NEW CENTURY TECHNOLOGY COUNCIL -- Establish
a New Century Technology Council (NCTC)
- Strategy 2: New Century Region Geographic Information
Network
- Strategy 3: New Century Regional Telecommunications
Network
- Strategy 4: TECHNOLOGY DEVELOPMENT, ASSISTANCE, AND
TRANSFER -- Promote the CIT-funded Technology Development Centers and Regional Offices in
the New Century Region.
- Strategy 5: TECHNOLOGY BUSINESS INCUBATORS -- Develop a
promotional strategy for the Corporate Research Center (CRC) at Virginia Tech. Promote
development of a business incubator in the Roanoke Valley, with part of the space to be
devoted to technology businesses.
- Strategy 6: TECHNOLOGY APPLICATIONS CENTER -- Establish
a CIT-funded Technology Applications Center (TAC) at Virginia Tech.
- Strategy 7: Conduct a study of the economic benefits of
enhancing the New Century Region's technology infrastructure.
- Added Strategy: Make The New Century Region a world
center for fiber optics and wireless communication.
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Transportation
and Distribution
- Strategy 1: Smart Highway Project
- Strategy 2: Pursue Development and Implementation of an
Intermodal (Air, Highway, and Rail) Distribution Hub Facility within the New Century
Region
- Strategy 3: Develop a Transportation/Distribution
Business Incubator Organization Within the New Century Region
- Strategy 4: Develop a Plan to Capitalize on the New
Century Region's Railroad Heritage as a Means of Increasing Tourism
- Strategy 5: Pursue Development of an Intermodal Hub and
Distribution Terminal in the New Century Region at Roanoke
- Strategy 6: Showcase Futuristic Transportation
Technology
- Strategy 7: Establish a National Center for Logistics
Management, Transportation/Distribution Education, Technology, and Research
- Strategy 8: Explore a Rail Ferry Concept for Trucks as
an Alternative to Other Means of Increasing Capacity on Interstate 81
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Tourism,
Conventions, and Retirement
- Strategy 1: Regional Economic Development Council
- Strategy 2: Funded and Staffed Regional Marketing
Cooperative
- Strategy 3: Instill Pride and Regional Commitment.
- Strategy 4: Promote retirement living and communities as
an important aspect of economic development in the New Century Region, and create and
develop new products in these areas.
- Strategy 5: Make the Region more "visitor
friendly" to all market segments.
- Strategy 6: Preserve, expand and promote current
tourism, conventions, and retirement product and develop new product - create new product
by linking current products with transportation systems, promotional themes, etc.
- Strategy 7: Create a regional network of Greenway
Systems. ("Pathways to Prosperity")
- Strategy 8: Develop infrastructure which will make the
Region capable of accessing, utilizing, and delivering information via new
technologies.
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Small
Business/Entrepreneurship
- Strategy 1: Financing - Existing Programs
- Strategy 2: Financing - New Programs.
- Strategy 3: Legislative/Governmental
- Strategy 4: Small Business/Entrepreneurship Recognition
- Strategy 5: Quality Management.
- Strategy 6: Education and Training of Small Business
Owners and Managers
- Strategy 7: Business Incubators.
- Strategy 8: Small Business/Entrepreneurship Awareness
Education Program
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