On August 31, 2023, during a Community Conversations visit to rural western Virginia, Richmond Fed President Tom Barkin, Regional Executive Renee Haltom, and Community Development Manager Jarrod Elwell explored the economic potential of Alleghany County and Highland County, bordering the Allegheny Mountains. They discovered that these counties, with their natural beauty and resources, hold promise for attracting both residents and industry.
"Both regions have strong tourism potential and have invested significantly in a ‘sense of place’ to retain current residents, interest new workers, and capitalize on tourism," Renee Haltom, Vice President and Regional Executive of the Richmond Fed, said.
On August 31, 2023, a visit by the Community Conversations team to two rural counties in western Virginia illuminated the region's picturesque landscapes, brimming with economic potential. While exploring Alleghany County and Highland County, nestled alongside the Allegheny Mountains, Richmond Fed President Tom Barkin, Haltom, and Community Development Manager Jarrod Elwell unearthed an abundance of natural resources and scenic beauty, unveiling promising prospects for attracting residents and industries.
During their visit to Alleghany County, which encompasses the city of Covington and the town of Clifton Forge, the Community Conversations team orchestrated a roundtable discussion with business leaders and engaged with several CEOs, who shared their insights on the region's strengths and challenges. Alleghany's enduring strategic plan, Vision 2025, crafted roughly a decade ago, remains dedicated to fostering community involvement and regional cooperation, with the aim of making this mountainous region appealing to both current residents and newcomers. The team also discovered a thriving artistic community in Clifton Forge, with a rich heritage spanning decades.
Despite its modest population of 2,200 residents, Highland County boasts attractions such as an annual Maple Syrup Festival, drawing tens of thousands of visitors. Highland County aspires to better accommodate and harness this influx of visitors, with hopes of enticing some to establish permanent residency. Initiatives involve optimizing the utilization of the Highland Community Center and restoring the century-old Highland Inn, with the goal of complementing tourism with regular weekday activities and fostering business traffic, all while continuing to serve the local community. Attracting the next generation of residents to Highland County is pivotal, given its status as one of the nation's most aged counties in terms of population. Although the county's remote location poses challenges for daytime commuting, the strategy hinges on expanding amenities and housing options for potential new residents.
The Community Conversations team was profoundly impressed by the grassroots leadership evident in both counties, showcasing a resolute commitment to making significant progress with the available resources at their disposal. Currently, Highland County is conducting a comprehensive housing study. In Alleghany County, the county and city of Covington reaped the benefits of an award-winning school system consolidation, yielding substantial savings of $450,000 and preserving jobs. Additionally, Alleghany County is on the cusp of completing a novel rental housing project, aimed at offering quality housing at reasonable rent rates, thereby retaining existing workers and attracting fresh talent.
