Regional economic coalition lays out five‑year recovery plan, including innovation hub and startup funding

Clark Duncan, executive director and senior vice president of the Asheville-area Economic Development Coalition, told the Planning, Economic Development and Environment Committee on Sept. 16 that the coalition's updated AVL 5 by 5 strategy is intended to accelerate economic recovery after the September storm and to drive five years of growth in jobs, wages and investment. "I think this is a real game changer," Duncan said of a proposed federal Economic Development Administration grant application tied to a proposed innovation hub.

The plan sets several public targets over the next five years: the coalition is aiming for roughly 5,000 new jobs in target industries, more than $1 billion in new capital investment, and average wages of about $85,000 for announced jobs over that period. The coalition also described short-term programs to support startups and small businesses, workforce training and a new research unit to track…