Albemarle County Economic Outlook Reports and Periodic Monitoring
Title of Project: Albemarle County Economic Outlook Reports and Periodic Monitoring
Project Period: February 2025 to January 2027
Principle Investigator (PI): David Moore, Assistant Director for Strategic Partnerships, VTIPG
Co-Investigator: Sheryl Bailey, Visiting Professor of Practice, VTIPG
Key Community Partner: Albamarle County's Board of Supervisors
Description of Project:
VTIPG faculty and students produce annual reports directed to Albemarle County’s Board of Supervisors along with two periodic monitoring reports each calendar year directed to the County’s internal staff. We provide the comprehensive Annual Economic Outlook Report in Fall 2025 and Fall 2026, and the periodic monitoring reports in late February/early March and late June/early July each year to incorporate the most recent quarterly updates on national, state, and local economic indicators, subject to consultation and concurrence with the County. The primary topics of the Annual Economic Outlook Report include economic growth, labor market trends, consumer activity and prices, business and housing market activity, monetary policy, and economic outlook for the national, state, and local levels, along with an assessment of the County’s additional community factors of income and poverty, housing patterns and costs, educational attainment, and demographic trends, subject to consultation and concurrence with the County. The periodic monitoring reports include similar topic categories with customized indicators based on the availability of new monthly or quarterly data beyond the Annual Economic Outlook Report and relevance for the County’s strategic goals and mission.
Project Goals:
Assist Albemarle County elected and administrative leaders in understanding local, state and national economic trends that they may wish to consider in the strategic and financial planning and policy-making processes.
Project Outcomes:
- Two Annual Economic Outlook Reports and two periodic Monitoring Reports.
- Better informed decision-making by Albemarle County leaders