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Assessing the Economic Competitiveness of the Danville, Virginia Region

Citation

Johnson, James H., Jr.; Parnell, Allan M.; McClain, Catherine; & Santos, Pamela (2008). Assessing the Economic Competitiveness of the Danville, Virginia Region. Chapel Hill, N.C.: Urban Investment Strategies Center, Frank Hawkins Kenan Institute of Private Enterprise, Kenan-Flagler Business School, University of North Carolina at Chapel Hill.

Abstract

Given its locational advantages and natural attributes, the Danville Region has the opportunity to become a highly attractive place to live and do business. However, many challenges must be overcome if the community is to become highly competitive in the 21st century knowledge-based economy. Specifically, the Danville Region must (a) shed it image as an old-line manufacturing center, (b) embrace a more balanced approach to economy development by assigning equal weight to industrial recruitment and home-grown entrepreneurial ventures, (c) develop sustainable strategies for both financing and solving the region’s
pressing social ills, and (d) resolve its human capital problem. To address these issues, local officials should (1) re-brand the Danville Region as a sustainable community; (2) develop an image marketing campaign to promote the Danville Region in the economic development marketplace; (3) promote traditional business venturing as one of the keys to future economic growth and development; (4) create a civic entrepreneurial culture to solve the region’s most pressing social problems; (5) re-engineer K-20 education to include more training and experiential learning in entrepreneurship; and (6) devise strategies to
resolve the Danville Region’s human capital problem.

Reference Type

Book

Year Published

2008

Author(s)

Johnson, James H., Jr.
Parnell, Allan M.
McClain, Catherine
Santos, Pamela