FOR IMMEDIATE RELEASE
May 6, 2024
National Economic Development Week
Lynchburg, VA – The Office of Economic Development & Tourism is celebrating Economic Development Week this week May 6 – 10. Economic Development Week, established by the International Economic Development Council, aims to raise awareness of local programs that foster job creation, advance workforce opportunities, and enhance community well-being.
In Fiscal Year 2023, the Office of Economic Development & Tourism’s business support initiatives facilitated remarkable outcomes. The City of Lynchburg community was awarded $600,000 in grant funds, saw $9 million in commercial property investments, and benefitted from the creation of 245 new jobs. Furthermore, the Office of Economic Development & Tourism staff collaborated with six local workforce development programs to directly benefit over 200 residents of the City of Lynchburg. For details about the work of this office, delve into the Fiscal Year 2023 Annual Report.
The Economic Development Authority of the City of Lynchburg, comprised of appointed business leaders, plays a pivotal role in driving economic growth. Noteworthy is the recent announcement by Framatome to invest $49.4 million in Lynchburg, to expand and enhance its facilities while generating 515 new job opportunities. This significant achievement underscores the value of concerted efforts with major employers to bolster facility enhancements, production, and job creation in Lynchburg.
Please visit fi5t.rf518.com to learn more about the City’s economic profile and how businesses are making a difference in our community and the lives of our citizens.
National Travel & Tourism Week
May 19-25, the City of Lynchburg will celebrate National Travel & Tourism Week alongside the Virginia Tourism Corporation (VTC) by showcasing the City’s vibrant community where tourism stimulates economic growth, creates new businesses, and improves the quality of life for its citizens.
National Travel and Tourism Week is an annual tradition, created by the U.S. Travel Association, where travel and tourism professionals across the country unite to celebrate the value of the travel industry for the local economy, businesses, and personal well-being. More information on National Travel and Tourism Week can be found at www.ustravel.org.
In 2022, as per VTC data, tourism-based jobs accounted for 3,707 local employments in Lynchburg and $376 million in visitor spending. Moreover, in Fiscal Year 2023, Lynchburg permitted 45 special events and hosted 31 sports tourism events, which collectively yielded an economic impact of $10 million. During National Travel and Tourism Week, the Office of Economic Development & Tourism encourages patrons to honor and appreciate our restaurants, retail outlets, attractions, and lodging partners for their significant contributions to our workforce, economy, and community. Discover more about Lynchburg’s offerings and attractions at www.Lynchburgvirginia.org.
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