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The State of the Commonwealth Report

VA Chamber President Barry DuVal  presented the 2016 State of the Commonwealth Report, followed by a regional update by business and economic leaders in our area.  Other speakers include Dr. James Koche, Board of Visitors, Professor of Economic and President Emeritus in the Strome College of Business, ODU and Dr. Larry Chip Filer, Associate Professor of Economics at ODU and Member of Economic Forecasting Project Team.

Specific data includes:  Economic Summit Report image
State and the Lynchburg MSA Gross Domestic Product (GDP), Regional GDP, Virginia GDP by NAICS, Local Option Sales Tax, Payroll Employment, Unemployment Rate, Labor Force, and Building Permits
In addition, the report includes:
  • Examines the implications of a rise in single-earner households in Virginia
  • Looks at lessons learned from the pioneering higher-education model of Liberty University
  • Examines the rise in automation and which jobs in Virginia are potentially at risk
  • Examines the state of broadband internet access in Virginia and options for increasing access
  • Analyzes the reasons why people move from one metropolitan area to another

Overall, the state economy is expected to grow at only 1%; however, Lynchburg was highlighted for the exponential growth of Liberty University and the multiplier effect of that growth.

View here for full report
View here for Slide Show Presentation

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