What if the answer to better education, safer housing, stronger job opportunities, and access to health care was right in front of us.
It is—and it’s called economic development.
Across Virginia, economic developers are collaborating with business leaders, local governments, and community partners to attract investment, create opportunities, and foster sustainability in the places we call home. These are not abstract ideas or far-off initiatives. They are real results, happening in real communities every day.
From July 1, 2019, to June 30, 2024, Virginia celebrated over 1,000 company announcements, nearly 90,000 new jobs, and more than $143 billion in capital investment. For every dollar invested in economic development, the state’s return in tax revenue is estimated at $8.
That’s not just growth — it’s smart policy.
In fact, about 73% of those announcements came from existing businesses choosing to grow right here in Virginia. That’s a powerful endorsement of our business climate, workforce, and economic development infrastructure. These expansions don’t just create jobs — they strengthen our tax base, fund schools and services, and help maintain the quality of life Virginians expect and deserve.
Every new job created sparks additional opportunities across sectors. On average, each direct job results in 1.3 additional jobs in other industries. When we talk about economic development, we’re not just talking about buildings or businesses — we’re talking about creating competitive communities and long-term prosperity.
As we celebrate Economic Development Week this year, we’re proud to highlight the profound impact of economic development on every aspect of our daily lives.
When it comes to building stronger communities, supporting business expansion, and investing in innovation, the answer is clear: Economic development is the answer, and the local Economic Development Authority Team is working to improve Patrick County’s quality of life.
Houchins also is a member of the Virginia Economic Developers Association (VEDA), which was established in 1982 after a small group of individuals from across the Commonwealth came together with a shared interest in facilitating economic development in Virginia. VEDA was created with the express purpose to “increase the effectiveness of individuals in the practice of economic development in Virginia”.
The Virginia Economic Developers Association has grown from fewer than 100 members in 1982 to more than 525 members in 2017, marking its 35th Anniversary. VEDA’s events schedule has grown from one annual banquet to two Annual Conferences, two Membership Meetings, and two Professional Development Workshops. VEDA’s role in Public Policy has increased with each passing year. For the first time in 2017, VEDA’s Board of Directors was responsible for helping to secure patrons, draft legislation, and work to get it passed in the Virginia General Assembly. A Legislative Reception and Day at the General Assembly were added in 2008.
Currently, with more than 550 members, VEDA represents all corners of the Commonwealth, providing a platform for members to meet, organize, and implement programs that help create new jobs, encourage investment opportunities, and foster a pro-business climate in Virginia. VEDA is the voice in Virginia for shaping economic development public policy, and a primary source of strong and effective education and networking for economic development professionals.
(Houchins is the county’s director of Economic Development and Tourism)
