The Patrick County Chamber of Commerce hosted representatives of the Federal Reserve Bank of Richmond on Tuesday, August 26. These community conversations that the Federal Reserve Bank hosts allow the bank leaders to learn more about Patrick County. It gives them an opportunity to dig deeper into the local economy to learn about well-being and exchange economic updates and ideas.
Current President and CEO of the Federal Reserve Bank of Richmond, Tom Barkin, was the first president of the bank to ever visit Patrick County. He, along with Jarrod Elwell, Community Development Regional Manager and Renee Haltom, Vice President and Regional Executive kicked off the day in Meadows of Dan for a lunch time meeting at Jane’s Country Cafe. Local business and manufacturing leaders from the Meadows of Dan community attended. Businesses took turns informing the representatives about their business. Discussion also centered on workforce issues, supply chains, tariffs, customer demands and more.
After lunch, representatives traveled along the Highway 58 Lovers Leap project to see the construction and attend roundtable discussions in Stuart. The first round table involved our local leaders: Beth Simms, County Administrator; James Houchins, County EDA/Tourism Director; Bryce Simmons, Stuart Town Manager; Matthew Ratliff, P&HCC Patrick County Site Director; Sarah Wray, Community Outreach Director Reynolds Homestead; and Rebecca Adcock with the Patrick County Chamber of Commerce. Discussion with leaders was centered around our county’s story in relation to business development and economics, the challenges we face, and overall business trends for our community.
The afternoon session finished with Stuart area business leaders, like the Meadows of Dan businesses, telling the story of their business and what economic conditions they are challenged with, along with their economic wins.
The Federal Reserve Bank of Richmond is one of twelve independent regional Reserve Banks that make up the operating arm of the Central Bank of the United States, also known as the Federal Reserve. Guided by the Fed’s dual mandate—maximum employment and stable prices—The Federal Reserve Bank of Richmond works to strengthen the economy and the communities we serve by advancing the nation’s monetary, financial, and payment systems.
The Federal Reserve Bank of Richmond is the fifth Federal Reserve District, which includes North and South Carolina, Virginia, Maryland, Washington, D.C., and a sizable portion of West Virginia. They are active in our region, listening to and learning from individuals, businesses, and community leaders to inform decisions and policies that help our economy grow stronger. For more information, please visit their website at www.richmondfed.org.
