Richmond Fed Launches Center for Rural Economies to Strengthen Economic Resilience in Rural Communities

RICHMOND, VA — The Federal Reserve Bank of Richmond announces the launch of the Center for Rural Economies, a new initiative dedicated to advancing economic opportunity and resilience in rural communities across the Fifth District and beyond.

The Richmond Fed works to promote a healthy economy and sound financial system by contributing specialized expertise in the economics of rural communities and small towns. With 20 percent of the nation’s population residing in rural areas, the Center will serve as a hub for critical research, policy insight and community engagement. It will focus on addressing key issues through a rural lens, concentrating on education and career pathways, business dynamics and economic resilience, while also highlighting innovative solutions and success stories.

“The Center for Rural Economies reflects our deep commitment to understanding and supporting the communities that form the backbone of our region,” said Daniel Davis, group vice president for regional economics and director of the Center for Rural Economies. “Through data-driven research, collaborative programs and strategic partnerships, we aim to empower rural leaders and organizations to build stronger, more resilient futures.”

“We’re proud of the Richmond Fed’s efforts in rural economic research and engagement,” said Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond. “We have built a broad network of rural experts and community leaders who work with our research team to help us understand rural economies and their pathways to further progress.”

The Center will house several signature initiatives, including:

• Investing in Rural America Conference – A flagship annual event convening rural stakeholders to share strategies and build networks.
• Investing in Rural America Webinar Series – Launched in October 2025 to provide ongoing learning opportunities.
• Rural Investment Collaborative – Supporting rural leaders in developing capital projects and building the skills they need to access funding.

The Center’s work will draw on regional insights to inform monetary policy and amplify the voices of rural communities.

As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

###