June 11, 2026

By Mayor Derrick R. Wood

Economic development is often framed as a competition.

Communities compete for businesses.

Regions compete for investment.

States compete for jobs.

But after attending the ribbon cutting and grand opening of the Virginia Black Chamber of Commerce's new headquarters in Fredericksburg, I was reminded of something important:

The future of economic development is not competition.

The future of economic development is collaboration.

The strongest communities are not built by working in isolation. They are built when entrepreneurs, business leaders, nonprofit organizations, local governments, investors, educators, and community advocates come together around a shared vision for opportunity.

That is exactly what I witnessed at the Virginia Black Chamber of Commerce.

The event brought together leaders from across Virginia who understand that economic growth is not simply about attracting businesses. It is about building ecosystems where businesses can start, grow, scale, and succeed.

As both a Mayor and a small business owner, that message resonates deeply with me.

Before serving as Mayor of the Town of Dumfries, I was an entrepreneur trying to build something of my own. I understand the challenges that come with starting a business. The long hours. The uncertainty. The setbacks. The moments when belief is all you have.

Every successful business begins with someone willing to take a chance.

Every storefront, every company, every organization started with a person who saw a possibility that others could not yet see.

The role of leadership is to help create environments where those possibilities can become realities.

That is why organizations like the Virginia Black Chamber of Commerce matter.

Under the leadership of President and CEO Ernisha Hall, the Chamber has become more than a business organization. It has become a connector of people, ideas, resources, and opportunities. It has helped create pathways for entrepreneurs to access relationships, mentorship, capital, education, and networks that can accelerate success.

The opening of this new headquarters represents more than a new address.

It represents a commitment to helping entrepreneurs across Virginia build stronger businesses and stronger futures.

During my remarks, I shared a belief that continues to guide my work in public service:

Black business is not a side conversation in economic development. Black business is economic development.

When businesses grow, jobs are created.

When jobs are created, families gain stability.

When families gain stability, communities become stronger.

When communities become stronger, future generations inherit greater opportunities.

That cycle of opportunity is what economic development should be about.

For me, this event also reinforced the importance of the work we are doing in Dumfries.

For years, our community was often defined by what people believed it lacked.

Today, we are focused on what we are building.

Through Destination Dumfries 2044, we are working to create a community where entrepreneurs can thrive, where investment is welcomed, where innovation is encouraged, and where economic opportunity is accessible to more people.

Whether it is the creation of our Economic Development Authority, the redevelopment of our waterfront, the transformation of our Main Street corridor, or our efforts to attract new businesses and jobs, our goal remains the same:

To build a community that people choose to invest in.

But no community achieves that alone.

The challenges facing local economies today are too complex for any one organization, business, or municipality to solve independently.

Housing.

Workforce development.

Small business growth.

Infrastructure.

Talent attraction.

Access to capital.

Regional competitiveness.

All of these challenges require partnerships.

They require collaboration.

They require leaders who understand that progress moves faster when people work together.

That is why gatherings like this matter.

They create connections.

They build relationships.

They spark ideas.

And often, they become the starting point for partnerships that create lasting impact.

I was also honored to receive recognition during the event. While I am grateful for the acknowledgment, I left with something even more valuable—a renewed sense of optimism about the future of entrepreneurship and economic development across Virginia.

The energy in the room was undeniable.

It was the energy of builders.

Builders of businesses.

Builders of organizations.

Builders of communities.

Builders of opportunity.

As I looked around the room, I was reminded that every thriving community is ultimately built by people who are willing to invest in a future they may not fully see yet.

People who believe enough to build.

People who care enough to lead.

People who understand that success is not measured solely by what we accomplish for ourselves, but by the opportunities we create for others.

A ribbon was cut that day, but what stood out most was not the ceremony.

It was the reminder that Virginia's future will be shaped by our willingness to work together.

The future of economic development will not belong to those who build walls around opportunity.

It will belong to those who build bridges.

The Virginia Black Chamber of Commerce is building those bridges.

And Virginia is stronger because of it.