We are proud to announce that the Office of Economic Development (OED) has received a three-year, $525,000 university center grant from the U.S. Economic Development Administration (EDA).  EDA supports OED’s work with companies, communities, and agencies to create partnerships and provide analytical resources to foster new higher-skill, higher-wage, private sector employment and investment. These activities seek to help Southwest and Southside Virginia to develop the capacity to sustain innovative industry clusters and prosperous, entrepreneurial communities.

The award, representing a 33% increase over previous funding, continues OED’s nearly two-decade-long relationship with the program.   In an intensely competitive environment this expanded support represents an endorsement of Virginia Tech’s strong commitment to economic development.  Specifically, OED will use this additional support to leverage the universities growing presence in “Greater Southside” expanding the office’s target area for services.  This will include communities in the Petersburg region, where Virginia Tech recently announced participation in a joint initiative with UVA and the Virginia Community College System supporting the aerospace industry that was critical to the decision by Rolls Royce to locate a new jet engine facility in the region.