Our News



July 3, 2014

Richmond Fed Leaders Visit Lynchburg, Va.

Lynchburg Regional Forum
President Jeff Lacker; Sandy Tormoen, assistant vice president; John Capps, president of Central Virginia Community College; Steve Malone, assistant vice president; and Ann Macheras, vice president, listen to a presentation in CVCC's machine lab by Lynn Dillard, an assistant professor (far left).

Bank leaders learned about the wireless technology and manufacturing sectors, early childhood education and local workforce development programs during a two-day visit to Lynchburg, Va.

The Lynchburg Regional Forum took place June 25–26 and is part of our Bank’s ongoing outreach efforts around the Fifth District. Bank leaders heard from business, education and community representatives about the importance of a well-trained workforce in a series of tours and roundtable discussions. Many technology and education initiatives are tied to workplace development. Lynchburg also has an important historical tie to the Fed — the city was home to U.S. Rep. Carter Glass, a sponsor of the 1913 Federal Reserve Act.

Bank leaders held roundtable discussions to learn about the area’s wireless technology and manufacturing industries. They toured the Center for Applied Engineering and Research in Forest and visited Central Virginia Community College, learning about the XLR8 STEM Academy, a science-technology-engineering-mathematics program that’s offered to area high school juniors and seniors.

President Jeff Lacker gave a speech — “Investing in People as an Economic Growth Strategy” — to business and community leaders at Lynchburg College during the Lynchburg Regional Business Leaders Breakfast on June 26.

Bank leaders also visited Randolph College, which operates a nursery school that’s received a four-star rating from the Virginia Star Quality Initiative, a voluntary quality rating and improvement system for early learning programs. A roundtable discussion took place with area educators and community leaders about early childhood education, the effective use of available state programs and community engagement, and its role in workforce readiness and laying a foundation for the future.

Our Outreach function organizes these twice-yearly events around our District so Bank leaders can go into our communities and meet with our constituents, who in turn learn more about us and our work. The next visit will be to Asheville, N.C., in October.

While Bank leaders can read reports and analyze economic data about an area, President Lacker said, “There’s no substitute for talking to people. We find these visits critical to understanding the process of economic growth.”

Listen to Ann Macheras, vice president of regional economics at the Richmond Fed, talk about what Bank leaders learned during their visit to Lynchburg.

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Laura Fortunato
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Jim Strader
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