Economic Impact Analysis for RIVERE Ecological Center and Entrepreneurial Ecosystem
The proposed analysis evaluates the economic impact of a 25,000-squarefoot facility that supports entrepreneurship and small business growth. Designed as a coworking space, the center will feature specialized areas, advanced technological infrastructure, and equipment to facilitate research and development focusing on river systems. The RIVERE Ecological Center will stand out as an innovative initiative, leveraging increasing investments and advancements in addressing climate and environmental challenges. There will be two phases of this panning effort: 1) an economic impact analysis and qualitative impact to measure demand for the RIVERE Ecological Center in the next 10 to 20 years for companies to conduct research and share best practices; and 2) the development of the RIVERE Ecological Virtual Center Plan and Digital Platform. The virtual center plan will identify future investor partnerships and to focus on outreach to potential occupants. The virtual center will be a tool for folks to understand how the ecological enter will look once physically built out, incorporating what research companies need in terms of the physical space and equipment. Both plans will inform a multi-phase implementation, emerging first as a virtual space and then as an actual building. The virtual center and digital platform will include work by the project team and steering committee to generate a roadmap for outreach to the local community. The steering committee will consist of local economic developers from Stafford County, the City of Fredericksburg, Virginia Innovation Partnership Corporation (VIPC), among others.
- Statewide Project Theme: Startup Ecosystem
- Region 6 Priority Industry Cluster: Professional, Scientific, and Technical Services
- GO Virginia Request: $72,100
- Match: $36,050
- Source of Match: Riverlink, Steering Committee Member Time, City of Fredericksburg, Stafford County
- Project Type: Planning/Feasibility Study
