Conference Recap

2023 Investing in Rural America: Partnering for Success
The Federal Reserve Bank of Richmond hosted the fourth annual Investing in Rural America Conference to showcase the efforts of civic, business and community development leaders who are invested in strengthening the financial base, courting new industries and jobs, and recruiting and retaining a talented workforce in their small towns and rural communities.
More than 230 rural stakeholders traveled to Roanoke, VA to take part in the event, which was developed around the theme of Partnering for Success. Keynote presentations, panel discussions and breakout sessions showcased numerous small towns and rural communities across the Fifth District territory the Bank serves (Maryland, North Carolina, South Carolina, Virginia, Washington D.C. and most of West Virginia) that are making strides to rebuild or reinvest in their infrastructure and unique offerings. The sessions also offered an opportunity for communities still facing challenges to learn how to better pool their surrounding resources – from brainpower and manpower to capital investment.
The key takeaways from this year’s conference: Start small, build trust, self-examine and course correct together.
Richmond Fed President Tom Barkin shared his assessment of how to bring talent to small towns in his conference opening remarks. “It’s trendy to say that post-COVID-19 we are in a “new normal,” Barkin said, “but I really do think, when it comes to small town economic development, the ground has shifted.”
Check out our conference recap article for a more in-depth summary of the event.
Learn more about the program on the Investing in Rural America series page.
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Highlights from Investing in Rural America
Speakers



Who Should Attend
Policymakers, community representatives, business executives, nonprofit leaders, investors, workforce development professionals
Agenda
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Tuesday, April 11, 2023
01:00 pm
Day One Conference Sessions
Connecting Capital to Rural Opportunity: A peer learning and sharing session for rural-serving CDFIs
In this session, leaders and practitioners from rural-serving CDFIs will network with fellow industry professionals to share best practices for strengthening operational capacity, aligning sources of capital, forging strong partnerships, and measuring impact.- Carrie Cook, Vice President and Community Affairs Officer, Federal Reserve Bank of Richmond
- Surekha Carpenter, Research Analyst, Regional and Community Analysis team, Federal Reserve Bank of Richmond
- Nicholas Haltom, Senior Manager, Regional and Community Analysis team, Federal Reserve Bank of Richmond
Connecting What We Know to What We Do: Strengthening Rural Development Strategies through Research
This session will bring together rural researchers and practitioners to better understand the economic and institutional challenges in our small towns and rural areas and the opportunities and solutions that have emerged in both literature and practice. Topics will include health, economic development incentives, broadband and other infrastructure, and the prospects for wealth creation in rural areas.- Heather Stephens, Director, Regional Research Institute, West Virginia University
- Shannon M. Monnat, Director of the Center for Policy Research, Lerner Chair in Public Health Promotion and Population Health, and Professor of Sociology, Syracuse University
- Roberto Gallardo, Director, Purdue Center for Regional Development
- Jason Brown, Vice President and Economist, Federal Reserve Bank of Kansas City
- Laura Ullrich, Senior Regional Economist, Federal Reserve Bank of Richmond
- Sonya Waddell (moderator), Vice President and Economist, Federal Reserve Bank of Richmond
- Adam Scavette (moderator), Regional economist, Federal Reserve Bank of Richmond
04:00 pmRural Spotlights Poster Session
The poster session will spotlight community initiatives that are designed to reduce skill barriers or non-skill barriers to employment. This can include education and training programs; initiatives designed to increase access to child care, health care, housing, transportation, or broadband; and programs designed to expand credit access to consumers and small businesses. Do you have a community initiative that we should spotlight? Submit a proposal for the poster session by February 10.05:00 pmReception
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Wednesday, April 12, 2023
08:15 am
Day Two Conference Sessions
Registration & Breakfast
09:00 amWelcome and Opening Remarks
Sonya Waddell, Vice President and Economist, Federal Reserve Bank of Richmond
Tom Barkin, President and CEO, Federal Reserve Bank of Richmond09:20 amPolicy Perspective
U.S. Senator Mark R. Warner, Commonwealth of Virginia
10:00 amBreak
10:15 amMorning Keynote
The Fourth Way: Through Bridges and Bonds
Anita Brown-Graham, Gladys Hall Coates Distinguished Professor of Public Law and Government and Director of ncIMPACT, UNC School of Government
11:15 amBreak
11:30 amBreakout Sessions
Breakout #1:
What’s in your Backyard? Leveraging Assets for Community DevelopmentRural leaders and economic development experts discuss strategies for rural communities and small towns to build a thriving community by identifying and understanding their assets, such as key institutions, natural resources and their residents’ ingenuity. Speakers will include:
- Heidi Binko, Executive Director and Co-Founder, Just Transition Fund
- Sharon Decker, Chief Operating Officer, Tryon International Equestrian Center
- Randolph Keaton, Executive Director, Men and Women United for Youth and Families
- Carolyn Fryberger, Assistant Director of Economic Development, NCGrowth
- Erika Bell (moderator), Community Development Regional Manager, Federal Reserve Bank of Richmond
OR
Breakout #2:
Drawing talent off the sidelines: Addressing the Health and Social Barriers that Hinder Workforce ParticipationExperts in education, recovery, and physical and mental health share successful strategies for helping workers in rural areas and small towns overcome obstacles to joining the workforce. Panelists will include:
- Philip Cooper, Workforce Equity Advocate, Land of Sky Regional Council
- Maggie Sauer, Director, NC Office of Rural Health
- Dr. Vanessa Harris, Interim Director of Pathways from Prison, Claflin University
- Dawn Morales, Program Chief, Rural Mental Health Research at National Institute of Mental Health
- Laura Ullrich (moderator), Senior Regional Economist, Federal Reserve Bank of Richmond
12:45 pmLunch
01:45 pmAfternoon Plenary Panel
It Takes More Than A Village: Partnering to Drive Equitable Development
The Catawba Vale Collaborative (CVC) is building broad economic momentum around outdoor recreation opportunities in the town of Old Fort, North Carolina. When the CVC saw a chance to develop commercial space in the town’s historic center, the leaders partnered with regional organizations who helped turn their idea into a capital-ready project and then connected them with capital sources to bring the project to life.In this session, Thomas Watson, owner and managing director of Rural Support Partners, will facilitate a discussion with leaders working on the ground in Old Fort and the key external partners who supported the development of the Catawba Vale Community Center. Speakers will share how they collaborated to transform a community-driven vision into a funded project, and what other communities can learn from their story. Panelists will include:
- Stephanie Swepson-Twitty, President & CEO, Eagle Market Street Dev Corp, CDC
- Andrew Crosson, Chief Executive Officer, Invest Appalachia
- Jason McDougald, Executive Director, Camp Grier
- Kathryn Coulter Rhodes, Partner, Rural Support Partners
- Christopher Murrey, Chief Credit Officer, Mountain BizWorks
- Thomas Watson (moderator), Owner & Managing Director, Rural Support Partners
03:00 pmBreak
03:15 pmBreakout Sessions
Breakout #3:
If you build it, will they come? Strategies for attracting & retaining skilled workersHear from education, housing and community development experts about the investments small towns and rural communities are making to attract new residents and retain existing ones. Panelists will include:
- Colleen Roberts, Public Information Officer and Brand Manager, City of New Bern
- Danny Twilley, Assistant Vice President of Economic, Community and Asset Development for the Brad and Alys Smith Outdoor Economic Development Collaborative at West Virginia University
- Adam Cheeseman, Superintendent, Doddridge County Schools
- DeWitt House, Senior Program Officer, Harvest Foundation
- Jessie Romero (moderator), Assistant Vice President of Research Communications and Economic Education
OR
Breakout #4:
Better Together: How the private and public sectors can work together to amplify impactDevelopers, funders and economic development experts discuss how collaboration across regions and sectors can help small towns and rural communities develop and fund scalable projects. Panelists will include:
- Brandon Dennison, CEO, Coalfield Development Corporation
- Telly Tucker, President, Institute for Advanced Learning and Research
- Leah Fremouw, President and CEO, Bridging Virginia
- Samuel Louis Taylor (moderator), Public Policy Analyst, Federal Reserve Bank of Richmond
04:30 pmClosing Remarks & Adjournment
Kartik Athreya, Executive Vice President and Director of Research, Federal Reserve Bank of Richmond
Carrie Cook, Vice President and Community Affairs Officer, Federal Reserve Bank of Richmond