Volume 4, Issue 1; January, 2010
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Region 2000 continues to show positive employment growth
 The new decade brings great hope for economic recovery, but when will that occur?
Since the peak of the downturn mid-year 2009, we have seen some signs of improvement in employment, but no clear signs of a turnaround just yet. Still,
the region is fortunate that it has fared better than others in the
state when it comes to employment growth and jobs. For example, the
Lynchburg region has been the only one in the Federal Bank of
Richmond's Fifth District of Virginia to show positive employment growth - as a
percentage - for four months straight.
When we see that the Lynchburg region is the only one on the positive side of the bar (see graph below), we can feel good about the work that we've done as a region to grow high paying, high growth jobs. I believe that has helped us fare better than others in this downturn. Unemployment in the region peaked in June 2009 at 8.2 percent which equated to more than 10,000 people out of work, but the rate has steadily decreased since then down to 6.7 percent as of Nov. 2009, the latest data.
Regional employment
*Source: Virginia Employment Commission, Nov. 2009
Civilian Labor Force - 127,044
Employed - 118,591
Unemployed - 8,453
Region 2000 unemployment rate - 6.7%
State unemployment rate - 6.4%
National unemployment rate - 9.4%
Here's the latest snapshot of VA employment growth in the Fifth District:
*Source: The Federal Reserve Bank of Richmond, Jan. 2010 report.
The Lynchburg MSA is once again the only region to show positive employment growth (at 0.7 percent), year over year, as shown in the chart below. Download the full report here.
Here's the snapshop of unemployment rates statewide:
Housing:
Source: *Virginia Association of Realtors, Q3 2009
 Virginia's housing markets appear to be moving upward, with the lowest point seen in Q4 2008 and steadily improving since then.
Lynchburg region Q3 2009 stats:
Median Sales Price - $152,955 (down 2.5% from same time last year)
Homes Sold - 580 (down 2.4% from same quarter last year)
Foreclosures - 44 (an improvement from 102 in Q2 2009)
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 Next Wired Wednesday to focus on Google Wave
- Wed., Feb. 17, Noon - 1:30 p.m.
- Holiday Inn, Main St., Lynchburg
What is Google Wave and how can it change the way we communicate online?" Josh Quintero of Blair Marketing will give an interactive presentation about Google Wave and answer questions at the next Wired Wednesday on February 17, Noon - 1:30 p.m. at the Holiday Inn, Main
Street, Lynchburg. $10 for Tech Council members/$15 for
non-members. RSVP's required.
Register at the Tech Council website here.
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Services Authority finishes successful first year in the solid waste business
 The
Region 2000 Services Authority began operations on July 1, 2008 to coordinate
regional solid waste disposal in an effort to reduce costs for the five
localities who participate. According to Solid Waste Director Clarke Gibson,
the outcome of regionalizing solid waste disposal at the onset of an economic
downturn has been challenging yet positive, in that the Authority has been
financially and operationally successful during its first full year.
Read the full story here and view a chart showing the tonnage of solid waste generated by month in 2009.
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YPCV celebrates a strong year in 2009
 In 2009, the Young Professionals of Central Virginia (YPCV) board of directors grew to 19 members, while the number of community service and professional development events tripled. YPCV had its first mention in an international publication, as Lynchburg was featured in U.S. Airways in-flight magazine. The YP Card initiative brought new business to local vendors and provided discounted rates to YPs. According to Executive Director Abe Loper, pictured, YPCV reaches more than 885 young professionals every week through its eblasts and events. To learn more about YPCV, click here.
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Ready... Set... Build!
 CAER construction gets underway
The land clearing gear is in full force at the New London Business & Technology Center in Bedford County and the footers are currently being poured by Lynchburg-based C.L. Lewis & Co. Construction on the CAER's $7.6 million research and education center is on target for completion by the end of the year. The
CAER aims to strengthen the region's innovation economy through the research and activities that will take place in
its new space. To view a photo and more about the building, click here.
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 Business Development Center to offer Self Employment Training Course
Held Jan 27 - March 3, 2010 (Wednesdays 7 - 9 p.m.) Business Development Center, 147 Mill Ridge Rd., Lynchburg, VA 24502
The Region 2000 Small Business Development Center on Mill Ridge Road will offer a Self Employment Training Course beginning on Wed., Jan. 27. This six week course covers
the fundamentals of owning your own business. The program is designed for new start-up
or existing business owners who want to improve skills such as:- Marketing
- Cash Flow Analysis
- Bookkeeping & Accounting
- Legal and Tax Issues
- Compiling a Business Plan
- Budgeting & Financing
- Pitfalls & Business Hints
There is a $75.00 registration fee. Pre-registration is required. Learn more here. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ |
| Full color business park profiles featured on Region 2000 website
 The Region 2000 EDC and participating localities have updated aerial shots of the prominent business/industrial parks in the region. The list is posted to the Region 2000 website and will be extended further as information comes in.
To view the current list of parks, please click here. You can download a full color spec sheet (pdf) for each park, by clicking on the thumbnail image on the page.
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 Virginia's Region 2000 Partnership serves 10 localities and is made up of the Economic Development Council, Technology Council, Center for Advanced Engineering and Research, Local Government Council, Workforce Investment Board, and Young Professionals of Central Virginia. Please send comments to tblido@region2000.org.
Traci Blido
Program Mgr./Communications Officer
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www.region2000.org
Follow us on Twitter @VARegion2000.
Contact us by phone at (434) 845-2000. |
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