Virginia Economic Review

For more than 300 years, Virginia’s universities have helped produce generations of political leaders, scientists, entrepreneurs, engineers, and business executives who shaped the economy in the Commonwealth and beyond.

As the world continues to struggle with drug supply chains and critical shortages, clusters of activity have emerged to move the needle of medication affordability and accessibility.

Recent major biopharmaceutical manufacturing announcements are positioning Virginia for a broader reshoring effort in the pharma industry. COVID-era supply chain disruptions and resulting shortages exposed the risks of over-reliance on overseas production for essential medicines.

New or expanding companies want to know that they will be able to hire workers with the skills they need. While outside training providers offer established but generic faculty, facilities, and programs, in-house solutions allow for customization but require significant investment.

Sam Northington doesn’t want any military veteran to struggle like his dad did. After 20 years in the U.S. Air Force, his father retired as a master sergeant and went back to college to get his teaching credentials. “That didn’t really fit him. He never really taught,” Northington recalled.

In an increasingly digital world where data breaches, ransomware attacks, and other cybercrimes are pervasive, a skilled cybersecurity workforce is more important than ever. Yet the industry grapples with a significant worker shortage.

Like his fellow Type 1 diabetics, Alec Smith took insulin every day to regulate his blood sugar.

Like his fellow Type 1 diabetics, Alec Smith took insulin every day to regulate his blood sugar.

Backed by monumental funding deals, a peaking business profile, and a strong entrepreneurial undercurrent, Virginia is building an accessible, collaborative, and truly thriving innovation ecosystem far and wide across the Commonwealth.

Imagine an apartment building. The lobby entrance, residential door, and parking deck are all accessed and opened via a phone app. The resident takes their laptop to the pool and it automatically connects with Wi-Fi.

Imagine an apartment building. The lobby entrance, residential door, and parking deck are all accessed and opened via a phone app. The resident takes their laptop to the pool and it automatically connects with Wi-Fi.

Artificial Intelligence may seem like a new technology, but CarMax has been using it for years. The Goochland County-based company is the country’s largest seller of used cars.

Jonathan Zur is president and CEO of the Virginia Center for Inclusive Communities (VCIC), a nonprofit organization based in the Richmond area that works with schools, businesses, and communities to promote inclusion.

Chandra Briggman is president and CEO of Activation Capital, an independent authority that supports life sciences and advanced technology companies and entrepreneurship in the Richmond area.

John Newby is CEO of Virginia Bio, the nonprofit statewide trade association that serves and promotes the life sciences industry in the Commonwealth.

Tom Barkin is the president and chief executive officer of the Federal Reserve Bank of Richmond. Barkin joined the Richmond Fed in January 2018. In his time in Richmond, Barkin has taken an interest in the issues leading to a divide between urban and rural areas in the Fed’s Fifth District.

Luiz DaSilva is executive director of the Commonwealth Cyber Initiative (CCI) and Bradley Professor in Cybersecurity at Virginia Tech. Before coming to Virginia, he served as the director of CONNECT, a telecommunications research center at Trinity College Dublin.

In the competitive realm of corporate headquarters location decisions, the COVID-19 pandemic upended the way companies operate and could have major ramifications on office space moving forward.