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Virginia Tech is presenting a workshop, “Engaging Your University in Regional Economic Development” May 21-23. Attendees will get a broader perspective on their university in relation to regional economic development. The Hotel Roanoke and Conference Center will host the event.
See below for the press release from Virginia Tech. Read more »
The Metropolitan Institute at Virginia Tech, Cleveland State University and the German Marshall Fund have recived a $2.5 million award from the U.S. Department of Housing and Urban Development to manage the Strong Cities, Strong Communities fellowship program.
Associate Director Joseph Schilling will be Tech’s principle investigator on this project that will focus on economic growth and community development.
Here is the press release from Virginia Tech.
ALEXANDRIA, Va., Dec. 8, 2011 – The U.S. Department of Housing and Urban Development (HUD) announced last week the selection of the German Marshall Fund (GMF) partnership as the recipient of the $2.5 million award to manage the Strong Cities, Strong Communities fellowship program for HUD.
The partnership is comprised of the German Marshall Fund, Cleveland State University, and the Metropolitan Institute at Virginia Tech. Associate Director Joseph Schilling will serve as Virginia Tech’s principle investigator on this three-year project.
The fellowship program is the capacity building element of the White House-led SC2 initiative. SC2 is a pilot program focused on retooling and rebuilding the capacity of cities facing long-term economic challenges often known as cities in transition or legacy cities. Up to 30 fellows will be assigned to the six SC2 cities, which have been identified as:
* Chester, Pa.;
* Detroit;
* New Orleans;
* Fresno, Calif.;
* Memphis, Tenn.; and
* Cleveland, Ohio.
To fund the fellowship program, the Rockefeller Foundation donated $2.5 million to HUD to manage and implement the fellowship program. The GMF partnership was the winning proposal and will be responsible for implementing and administering the fellowship program.
“The Strong Cities Strong Communities Initiative represents a new and innovative way for the federal government to work with local governments, the private sector, and institutions of higher learning to support local economic growth and encourage community development,” said Melody Barnes, White House Domestic Policy Council Director.
“The Rockefeller Foundation is thrilled to support the Strong Cities Strong Communities Initiative, as part of our commitment to help vulnerable populations build resilience,” said Rockefeller Foundation President Judith Rodin. “The selected fellows will bring new innovation to cities like New Orleans and Detroit in these rapidly changing times, and lend increased energy to communities that are already working to find ways to be resilient during a difficult economic period.”
“At the Metropolitan Institute we strive to build collaborative research alliances,” said Director Kevin Desouza. “This grant gives us the opportunity to leverage the work we have done on cities in transition, vacant properties, and our emerging work in resiliency with global partners. We will continue to build international research partnerships that advance the goals of our partner institutions and Virginia Tech.”
The fellowship program will be a competitive program that provides funding for early to mid-career professionals to work for 24 months in the six pilot cities to supplement existing local capacity. Virginia Tech’s Metropolitan Institute and CSU’s Center for Community Planning and Development (CPD) will take the lead on mentoring the fellows on an ongoing basis and evaluating the impacts from the fellows. Schilling and CPD’s Director Kathryn Hexter will serve as the Fellowship’s “Mentor Team” by coaching the teams of fellows and coordinating fellowship activities with sponsor organizations.
In addition to building the capacity of local governments, SC2 aims to encourage partnerships among local community organizations, anchor institutions, businesses, foundations and government agencies, to help leverage federal investments.
A part of the School of Public and International Affairs within the College of Architecture and Urban Studies, the Metropolitan Institute is one of Virginia Tech’s premier research initiatives. The institute, located in the National Capital Region, conducts basic and applied research on the dynamics of metropolitan complexities, such as demographics, environment, technology, design, transportation, and governance.
Dedicated to its motto, Ut Prosim (That I May Serve), Virginia Tech takes a hands-on, engaging approach to education, preparing scholars to be leaders in their fields and communities. As the commonwealth’s most comprehensive university and its leading research institution, Virginia Tech offers 215 undergraduate and graduate degree programs to more than 30,000 students and manages a research portfolio of nearly $400 million. The university fulfills its land-grant mission of transforming knowledge to practice through technological leadership and by fueling economic growth and job creation locally, regionally, and across Virginia.
The U.S. Department of Commerce National Institute of Standards and Technology will invest $212,800 in Genedge Alliance, a statewide manufacturing support program based at Patrick Henry Community College in Martinsville.
Here’s more on the announcement from the offices of Sens. Jim Webb and Mark Warner:
Senators Jim Webb and Mark Warner today announced that the U.S. Department of Commerce National Institute of Standards and Technology (NIST) will invest $212,800 in GENEDGE ALLIANCE, a statewide manufacturing support program based at Patrick Henry Community College in Martinsville, Virginia. Both Senators have consistently supported federal funding in Congress for the program, which supports industrial and manufacturing jobs by helping private businesses across the Commonwealth compete and succeed.
“I have been a big supporter of this concept, where high-quality advisors help small and mid-sized companies compete nationally,” said Senator Webb. “The GENEDGE ALLIANCE manufacturing program is a strong example of a public-private partnership that will strengthen Virginia communities and invigorate local economies.” Read more »
State and local officials this afternoon announced an expansion at Commonwealth Laminating & Coating. The company will be hiring 40 new employees over the next two to three years in a move assisted by state economic development grants. Read about it here.
Bassett Furniture Industries Inc.’s board of directors has declared a special dividend of 50 cents per share of common stock outstanding payable on Jan. 3, 2012 to holders of record on Dec. 23, 2011.
Here’s a news release from Bassett Furniture:
Bassett Furniture Industries, Inc. (Nasdaq:BSET), today announced that its Board of Directors has declared a special dividend of $0.50 per share of common stock outstanding payable on January 3, 2012 to holders of record on December 23, 2011.
Earlier this year, after the sale of its interest in the International Home Furnishings Center in High Point, N. C., the Company reinstated its regular quarterly dividend, returning to shareholders $0.03 per share on both June 1, 2011 and September 1, 2011. Additionally, Bassett increased the regular dividend for the next payment to $0.035 per share, which will be made on December 1, 2011 to holders of record on November 15, 2011.
“Given the uncertainty in overall economic conditions and an adverse credit climate, we believe it is prudent to be conservative with our cash position,” said Robert H. Spilman, Jr. CEO and President.
“However, as the Company reviewed and updated its plans for the future while weighing the Company’s improved balance sheet against economic and market uncertainties, the Company and Board of Directors felt that payment of a special dividend would be appropriate at this time and would be welcomed by a significant segment of its long-term shareholders.”
The Salem-Roanoke County Chamber of Commerce held a ribbon cutting for Generations Medical Supply Store Nov. 9 in Salem. Here’s the full news release from the Salem-Roanoke County Chamber of Commerce:
The Salem-Roanoke County Chamber of Commerce held a ribbon cutting for Generations Medical Supply Store, Salem, on Wednesday, November 9, 2011. Members of the community and the Chamber of Commerce joined regional and local management and staff to celebrate their Grand Opening at Ridgewood Farms. Generations Medical Supply Store is located at 1965 Electric Road, Salem. The Salem-Roanoke County Chamber would like to thank Generations Medical Supply Store for their membership and support.
Virginia Tech Business Technology Center has joined VT KnowledgeWorks under the KnowledgeWorks umbrella to create an entrepreneurship program for Virginia.
KnowledgeWorks plans start an in-reach program for Virginia Tech inventors to accelerate the process of preparing innovative discoveries for commercial markets. Dick Daugherty, longtime director of the Virginia Tech Business Technology Center, will serve as director of strategic services for VT KnowledgeWorks and will spearhead the program. Details on the new program will be released early in December.
Here’s a news release from VT KnowledgeWorks:
Cox Communications has announced a partnership with Valley View Mall to construct a Technology Park, enabling businesses in the west end of Roanoke County to receive telecommunications services from Cox.
Construction is expected to take five to six months, and a ribbon cutting commemorating the expansion is scheduled for 9 a.m. Nov. 9 in Valley View Mall’s food court area.
Here’s a news release from Cox:
USAA and Military.com have ranked Roanoke as a top 10 medium-sized metro in a “Best Places for Military Retirement: Second Careers” list.
Factors that were considered include employment opportunities for military skills sets, the overall jobs climate, proximity to a military base and hospital or clinic, state taxation on military pensions and quality of life, including affordability, housing costs, crime rate, sales tax and climate.
USAA and Military.com, worked with Sperling’s Best Places to create the ranking, intended to help veterans to find a job in the face of a tough economy.
The Bedford Area Chamber of Commerce has announced it has reformulated it awards program.
The Excellence in Business Awards include new categories and a new nomination and selection system. Anyone can nominate a business, which should be a member of the chamber of commerce. Self-nominations are welcome and only one nomination is needed for consideration. A selection committee will determine finalists, who will then be put up to the business community for a vote.
New categories include home-based business, agri-business, nonprofit, business to business, business to consumer and emerging small business. The winners will be honored at the Annual Business Dinner in March.
Here’s a news release from the Bedford Area Chamber of Commerce:
