Strengths, Weaknesses, Opportunities, Threats
SWOT ANALYSIS
Click on Strengths, Weaknesses, Opportunities or Threats to learn more about what makes the region poised for economic success and what makes economic success a challenge. The Strengths and Weaknesses tend to be internal factors while the Opportunities and Threats tend to be external.
STRENGTHS
- Quality of life
- Natural beauty
- History
- Boat building hub
- Water-based resources and agricultural-based assets, such as new or unique crops and products
- Tourism (Ecotourism, Wine Trail, water sports)
- Local seafood
- Specialty foods made locally
- Geographic proximity to DC, Richmond, and Tidewater
- Influx of new residents as an effect of the pandemic
- Rappahannock Community College
- Northern Neck Technical Center and Governor’s STEM Academy for Agriculture and Maritime Studies
- Effective Workforce Development Board
- Broadband about to expand to cover the region
- Strong regional organization (NNPDC)
- Thriving small towns with dining and retail
- Unique lodging, including a resort and bed & breakfasts
- National Heritage Area Designation progress
- Active Enterprise Zone Program
WEAKNESSES
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- Infrastructure – highway & bridges aging, failing, and/or in disrepair
- Regional workforce needs to grow and to continue expanding skills
- Limited public transit
- Affordable housing – commute for most workers is 40-45 minutes
- Water access – Few places to access the water
- Few restaurants or shops on the water
- Public school system – needs upgrade
- Exodus of youth
- In-migration of senior citizens and retirees, but not enough workforce-aged people
- Manufacturing base is small
- Low industrial building/site inventory
- More services could be added, such as shopping, healthcare facilities, lodging
OPPORTUNITIES
- Remote Work/Work from Home will create proximity to distant metro areas
- Enhanced communications will create increase in demand-driven training
- Attract & retain workers
- Expanded Tourism Marketing to more distant and new markets to boost tourism
- Develop more opportunities for Adventure Sports/Outdoor activities (e.g., zip lines)
- Enhanced recreation – at Belle Isle and Westmoreland State Parks (awareness, programming); the new Compass Entertainment Complex; development of the Tri-Way Trail)
- Specialty/Niche Tourism – sport fishing, ecotourism, arts/culture, history
- Proximity to Dahlgren Naval Base with small business opportunities
- Mentoring and other input from new resident retirees with business experience
- Specialty agriculture/farming – showcase farms; value-added products (not just raw materials); specialty foods made locally
- Boat building/restoration & repair/storage
- Grow County economic development staff
- Digital Marketplace for local products
- Boost entrepreneurship (Incubator, co-working space)
- Business assistance, such as SCORE
- Small business training in social media, website development, e-commerce, marketing, design
- Attracting additional companies in industries like Engineered Wood Products and Warehousing/Logistics
- Affordable housing for teachers and working class; more multi-family residences closer to or in town
- Enhanced capacity of the Northern Neck Loan Program, and town revolving loan programs
- VA Clean Economy Act of 2000 – solar farms, “Solar for Schools” program, renewable energy training
- Guide to starting a business – easy and user friendly
- HUBZone designation for all counties until 12/31/2023
THREATS
- Decline of water availability and quality due to levels declining and salinity rising
- Aging septic systems
- Frequent flooding
- Reliance on seasonal agricultural workers
- Need more food processing facilities
- Protecting legacy of the “Working Waterfront”
- Shortage of hotel rooms and the inability to handle bus tours
- Environmental regulation
- Competition between commercial fishing industry & sports fishing
- Health Care – lack of specialty care for older residents causes an exodus to areas with more comprehensive health care
- Reduced sales tax capture – folks working elsewhere do most of their transactions (groceries, financial, etc.) outside the county
- Location makes the Northern Neck communities susceptible to natural disasters and hazards