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Richmond Regional Comprehensive Economic Development Strategy

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Richmond Regional Comprehensive Economic Development Strategy Richmond Regional 2014 Comprehensive Economic Development Strategy Richmond Regional Planning District Commission Inside Cover Exhibit 1: Map of the Richmond Region within the Richmond Metropolitan Statistical Area The Richmond Region is made up of the City of Richmond, the Town of Ashland, and the Counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent, and Powhatan - comprising the Richmond Regional Planning District as defined by the Commonwealth of Virginia. Unless otherwise noted, statistics provided in this report are attributable to the Richmond Region. These nine localities are also part of the Richmond Metropolitan Statistical Area (MSA) as defined by the United States Census Bureau in 2010. Where noted, statistics for the entire 2010 MSA are used to compare this larger region to peer regions throughout the United States. Richmond Regional Comprehensive Economic Development Study Prepared by the RICHMOND REGIONAL PLANNING DISTRICT COMMISSION Adopted by the RRPDC Board: December 12, 2013 Conditionally Approved by the U.S. Department of Commerce, May 22, 2014 Economic Development Administration: Released: July 8, 2014 MEMBER LOCALITIES: IN COOPERATION WITH: www.RichmondRegional.org/CEDS Household Income . .25 . Contents Concentration of Poverty. 26 Identifying the Most Distressed Areas. 28 Executive Summary v Aspiration. v V: Education 31 Proposed Uses for the CEDS. vi Public Education System. 31 Key Findings . .vi . What This Means for the Economic Health of the Region . 32 Public Education Performance. 33 I. Framework and Vision 1 Educational Attainment . .37 . EDA Investment Priorities . 1. Higher Education . 38. Strategy Committee . 2. Strategy Development . 3 . VI: Workforce Development 39 Introduction. 39 II. Demographics 5 Why Workforce Matters . 39 Population Trends . 5. Where We Are. 41 Race and Ethnicity . 8. Where We Are Going . 42. Apprenticeships . 46. III. Regional Economy 9 Higher Education Pipeline . 46. Peer Regions . 9 Start-ups and Entrepreneurship . .48 . Civilian Labor Force . 9. VII: Community Infrastructure 49 Employment and Commuting Patterns . .10 . Employment by Industry . 13 . Land Use, Growth & Development . 49 Industry Clusters . 15 Housing Trends . 50 Emerging Target Industry Clusters. 16 Transportation Infrastructure . 53. Occupation Clusters . 19. Telecommunications . 58. Occupation Gaps . 20 Public Water and Sewer Infrastructure. 58 Unemployment . 21 . Community Health & Culture. 59 Underemployment . 22. Wages and Cost of Living . .23 . VIII: Focal Areas and Sites 61 Gross Regional Product . 24 . Identifying Focal Areas. 61 Route 1 – I-95/295. 64 IV: Distressed Areas 25 RIC Airport/White Oak . .66 . Introduction . 25. Port of Richmond Activity area . .68 . i Richmond Regional Planning District Commission Richmond Regional Comprehensive Economic Development Strategy Meadowville. 71 Appendix Ai Innsbrook / West Creek. 73 Chmura Economics & Analytics Industry Clusters . A1. GRP’s Emerging Target Industry Clusters . A4 IX: Strategies 75 Advanced Manufacturing ....................................... A4 Strategy Premise . 75. Supply Chain Management ..................................... A4 Vision . 76 Finance and Insurance ........................................ A5 Climate for Job Creation . 76 . Professional and Creative Services ............................... A5 Immediate Actions . .77 . Health and Life Science ....................................... A6 Port of Richmond Logistics Strategy . .78 . SCCI Occupation Clusters . A7. RIC Airport / White Oak Educational Collaboration Strategy . .79 Support Services for Small Businesses and Startups . A9 Regional Infrastructure Connectivity Strategy . .80 Development Opportunities in Downtown Area . A10 2nd and Marshall (EDA site) ................................... A10 X: Implementation 85 2323 E Main Street (Lorrillard Building) ........................... A11 Performance Measures . 85 Foundry Park .............................................. A12 Strategic Projects . 86. Fulton Gas Works ........................................... A13 Reynolds South ............................................ A14 Bibliography 89 North Falls Tower (Reynolds North) .............................. A15 Richmond on the James ...................................... A16 CEDS Documents. 89 South 6th Street (Centennial Tower Site) .......................... A17 Locality Economic Development Strategies . .89 . South 10th Street (James Center) ............................... A18 Reports, Plans & Studies. 89 WhiteHead Warehouse (S 15th and E Cary St) ..................... A19 Books . 91 Rocketts Landing (data sheet) .................................. A20 Newspaper & Periodical Articles. 91 Priority Development Opportunities throughout the Region . A21 Television & Radio Reports . .93 . Route 1 – I-95/295 Focal Area ................................. A22 Tours, Summits & Lectures . .93 . RIC Airport/ White Oak Focal Area .............................. A25 General Data Sources . .93 . Port of Richmond Activity Focal Area ............................ A28 Meadowville Focal Area ...................................... A31 Acknowledgements 94 Innsbrook / West Creek Focal Area .............................. A34 Partner Organizations . .94 . Charles City County Priority Undeveloped Sites and Buildings ......... A36 RRPDC Staff . 94. New Kent County Priority Undeveloped Sites ...................... A38 Image Attributions . .94 . Goochland County Priority Undeveloped Sites ..................... A41 Powhatan County Priority Undeveloped Sites ...................... A43 ii Richmond Regional Planning District Commission Exhibit 15: Where Workers Who Live in the Richmond MSA are Exhibits Employed (by Jurisdiction) . 12. Exhibit 16: Largest Employers in the Richmond Region, 2012 . 13 Inside Cover II Exhibit 17: Summary of Major Industries of the Richmond Region 13 Exhibit 1: Map of the Richmond Region within the Richmond Exhibit 18: Richmond Region Employment by Major Industry . 14 Metropolitan Statistical Area. II Exhibit 19: Industry Clusters in the Richmond Region . 15. Exhibit 20: Summary of Industry Clusters. 15 Executive Summary v Exhibit 21: SCCI Occupational Clusters in the Richmond Region .19 Exhibit 22: Occupation Gaps in the Richmond Region . 20. I. Framework and Vision 1 Exhibit 23: Unemployment Rates by Peer Regions . .21 Exhibit 24: Unemployment Rates by Jurisdiction . 21. II. Demographics 5 Exhibit 25: Underemployment by Peer Regions . 22 Exhibit 2: Population trends in Exhibit 26: Average Annual Wages the Richmond Region, 1970-2010 . .5 . by Peer Regions . 23. Exhibit 3: Population by Jurisdiction, 1970 - 2010. 6 Exhibit 27: Cost of Living by Peer Regions . 24 . Exhibit 4: Population Growth Rate, 1970 - 2010 . 6. Exhibit 5: Population and Distribution by Age IV: Distressed Areas 25 (1990 and 2010). 7 Exhibit 28: Median Household Income Exhibit 6: 2035 Age Cohort by Peer Regions . 25. Population Projections . 7 Exhibit 29: Median Household Income by Jurisdiction . 26. Exhibit 7: Median Age by Locality . 8. Exhibit 30: Population Living in Poverty Exhibit 8: Race and Ethnicity by Peer Regions . 26. in the Richmond Region by Locality, 2010 . 8. Exhibit 31: Population Living in Poverty by Jurisdiction . .27 Exhibit 9: Comparison of Population by Race, 2010. 8 Exhibit 32: Richmond Region Distressed Areas. 28 Exhibit 33: Most Distressed Neighborhoods . .28 . III. Regional Economy 9 Exhibit 34: Employment in Most Distressed Neighborhoods . 29 Exhibit 10: Peer Regions . 9 Exhibit 35: Educational Attainment in Most Distressed Neighborhoods . 30. Exhibit 11: Labor Force of Peer Regions . .10 . Exhibit 36: Labor Force in Most Distressed Neighborhoods . .30 Exhibit 12: Labor Force by Jurisdiction . 10. Exhibit 13.1: Regional Commuting Patterns . 11 V: Education 31 Exhibit 13.2: Detailed Commuting Patterns . 11 . Exhibit 37: Fall Enrollment by Jurisdiction (Academic Year 2010- Exhibit 14: Where Workers Who Live in the Richmond MSA are 2011) . .31 . Employed (by Metro Area) . .12 . Exhibit 38: PALS-K Scores Below Kindergarten Readiness Levels 33 iii Richmond Regional Planning District Commission Richmond Regional Comprehensive Economic Development Strategy Exhibit 39: Third Grade Reading SOL Pass and Fall Rates . 34 VIII: Focal Areas and Sites 61 Exhibit 40: Eighth Grade Math SOL Pass and Fail Rates . 34 Exhibit 59: Regional Industrial Employment Clusters. 61 Exhibit 41: Public School Enrollment Characteristics, 2011-2012 .35 Exhibit 60: Regional Office Employment Clusters. 62 Exhibit 42: School Systems Career Technical Education (CTE) Exhibit 61: Regional Economic Development Focal Areas . 63 Programs . 36. Exhibit 62: Route 1 - I-95/295 Focal Area (North) . 64. Exhibit 43: Educational Attainment by Peer Regions . 37 Exhibit 63: Route 1 - I-95/295 Focal Area (South) . 65. Exhibit 44: Richmond Region Educational Attainment . .37 . Exhibit 64: RIC Airport/ White Oak Focal Area. 66 Exhibit 45: Educational Attainment by Jurisdiction . 38 Exhibit 65: Port Activity Focal Area (North) . 68 . Exhibit 46: Higher Education Enrollment in Exhibit 66: Port Activity Focal Area (South) . 69 the Richmond Region, 2011-2012 . 38. Exhibit 67: Meadowville Focal Area . 71. Exhibit 68: Innsbrook / West Creek Focal Area . .73 . VI: Workforce Development 39 Exhibit 47: Jobs and Job Seekers by Jurisdiction . 40. IX: Strategies 75 Exhibit 48: Jobs Seekers and Educational Attainment in the Exhibit 69: Goals, Objectives, and Strategies . 81. Richmond Region . .40 . Exhibit 49: Richmond Workforce Pipeline Model . 44. X: Implementation 85 Exhibit 50: Occupational Apprentice Sponsorships in the Richmond Region . .45 . Bibliography 89 Exhibit 51: Correlation Between Higher Education Programs and Jobs in the Richmond Region . .47 . Acknowledgements 94 VII: Community Infrastructure 49 Exhibit 52: Regional Density and Growth Patterns . 49. Appendix Ai Exhibit 53: Residential Growth Patterns Over Time . .50 Exhibit 54: Regional Transportation Network . 53. Exhibit 55: Richmond Region Amtrak Stations: Boardings and Alightings. 54 Exhibit 56: Logistic Assets in the Richmond MSA . ..
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