TA Tuesday: Rural investment and free webinars

Dismantling barriers to rural investment

The Richmond Fed’s District Dialogues event on identifying and addressing the barriers to rural investment is a must-watch.

Here are five key takeaways from the discussion:

  • Access to capital is a major challenge for rural areas. There is often a lack of traditional financial institutions and funding sources in rural communities. Community Development Financial Institutions (CDFIs) and other non-traditional lenders play a crucial role in providing capital to rural businesses and projects.
  • Rural areas face capacity constraints in terms of workforce, infrastructure, and organizational resources. Many rural organizations struggle with limited staff and resources to pursue funding opportunities and manage projects. Addressing these capacity issues is key to enabling more rural investment.
  • Federal funding programs and initiatives targeted specifically at rural and underserved areas can make a big impact. Panelists highlighted the importance of federal programs in providing much-needed capital and resources to rural communities.
  • Cross-sector collaboration and partnerships are vital for overcoming barriers. The panelists emphasized the importance of bringing together diverse stakeholders, including universities, nonprofits, government agencies, and private sector partners to address rural development challenges.
  • Asset mapping and building on local strengths is an important first step. Rural communities need to identify their unique assets and resources, develop a shared vision, and leverage their strengths to become "investment ready" and attract new opportunities.

Free webinars