The University of Virginia promotes economic prosperity through a broad array of programs, services, and activities.
We work to improve the lives of Virginia citizens and to create a competitive, attractive environment for new and existing businesses.
Explore some of the diverse programs and projects that we support.
Industry clusters are groups of firms that gain a competitive advantage by co-locating in a geographic region and sharing assets, networks, knowledge, workforce training, etc. The Office of Economic Development partners with allies to help support existing and emerging regional industry clusters by leveraging University research, faculty expertise, education programs, and more.
North Fork is a 562-acre park that provides state-of-the-art facilities to develop the creation and enhancement of research and business collaboration between the University and the public and private sectors — all for the economic and social benefit of Virginia and beyond. With a mixed-use master plan and the ability to build another 3 million square feet of buildings, opportunities abound.
North Fork is one of only a few developments in the Commonwealth featuring a Tier 4 “shovel ready” site as defined by the Virginia Business Ready Site program. This site (100+ acres) and additional spaces at North Fork are highly desirable for companies. The Office of Economic Development aims to support North Fork’s efforts to fill those unique spaces, attracting more industry to the area and creating more opportunities for alignment with ongoing faculty research.
Increasing access to affordable housing bolsters economic growth. Affordable housing benefits the economy by leveraging public and private resources to generate income - including resident earnings and additional local tax revenue - and supports job creation and retention.
UVA has established a goal to support the development of 1,000 to 1,500 affordable housing units over a decade on land in Charlottesville and/or Albemarle County that is owned by UVA or the UVA Foundation.
Along with graduating tomorrow’s leaders, the University of Virginia serves workforce needs more broadly across the Commonwealth.
Economic Development works with industry partners to identify human capital needs and with education partners to create solutions for those specific needs. This process creates training initiatives that develop required, relevant skills for current and future economies, spanning all ages and levels of education. The University’s contribution to talent development becomes a powerful vehicle for addressing economic challenges throughout Virginia.
Through these and many other programs and projects, the Office of Economic Development leverages UVA resources to bring powerful and tangible change to the state. By creating long-term collaborations among government, academia, industry, non-profits, and the private sector, our office builds sustainable partnerships today for tomorrow’s economic health.
Get in touch with Pace Lochte, assistant vice president for economic development, to learn more about how UVA can join you in advancing economic prosperity in the Commonwealth.