"With every storm that passes, from the Great Depressions to the Great Recession, from the floods of 1916 to the impacts of Helene, our region emerges stronger," said Clark Duncan, the Executive Director of the Economic Development Coalition (EDC). "And with every obligation met—from the retirement of our depression-era bonds in 1976 to the preservation of this internationally renowned downtown to the revitalization of our down-but-not-out River Arts District—we emerge more confident. Every accolade we celebrate—from the marvels of the Biltmore Estate or the Blue Ridge Parkway or our emerging reputation as a global leader in craft brewing, and automotive and aerospace, to name a few—we emerge more ambitious about what we can accomplish together."

The goal of the plan is not only to rebuild but to emerge more resilient, with a focus on economic stability and long-term prosperity. Duncan went on to explain that the EDC's task with the AVL 5x5 Plan is to stabilize homes and businesses and recover the economic promise of Asheville and Buncombe County, "without sacrificing the hard-fought gains we have made in recent years and the ambition that we have earned as a community."

Esther Manheimer, Mayor of Asheville, echoed this sentiment, stressing the importance of focusing on recovery while fostering growth. "I’m very reassured about our recovery from this hurricane incrementally," she said. "As I move through each day, and it’s events like this, and how many people turn out and show up, that give me hope for the next day that we’re going to keep doing the work to come back stronger than ever after this hurricane."

She highlighted that the city’s leadership is actively pursuing federal support for recovery, including $225 million in Community Development Block Grant Disaster Recovery (CDBG-DR) that the city should receive this summer. "We will have more money than we’ve ever had historically to be able to partner with folks to build multi-family affordable housing or single-family homes for homeownership, and also to help pay for the repair of people’s homes," she said. 

In the data collection phase of designing this plan, Asheville chose to benchmark itself against several other communities, both peer and aspirational. "Compared to the 12 other places we looked at, this region does have the oldest average age," said Amy Holloway, a strategic advisor for the plan and an Asheville resident. "It does have the lowest average wage. There is a greater disparity between what we pay people and the cost of our housing than any other benchmark that we looked at."

While sobering, these factors provide clear direction, and are also balanced out by some positive trends. "Our trajectory is incredibly strong," she said. "We have one of the highest growth rates of young professionals coming into our community. We have one of the highest rates of wage growth of any of those 12. And we have one of the fastest growing software and Technology sectors of any of those 12. So we are heading in the right direction." 

The 5x5 Plan is structured around five primary strategies, each of which is designed to address both immediate recovery and long-term growth:

1. Build capacity for local target industries: To remain competitive on a global scale, Asheville must enhance its capacity for industries like advanced manufacturing, robotics, and digital manufacturing. This includes the creation of an innovation hub, known as the "Futures Factory," designed to support local industries in their efforts to scale and compete globally.

2. Attract diversified target industry growth: Diversify our econmy, strengthen resiliency and generate new high-wage career opportunities. 

3. Evolve our entrepreneurial ecosystem: Establish Asheville and Buncombe County as a vibrant hub for entrepreneurship. One signature project of this strategy is the recently-announced Optimist Ventures Accelerator, established to provide startup funding and education for WNC founders.

4. Catalyze economic mobility through workforce partnerships: Close the opportunity gap to fuel economic growth through projects like the Accelerate Buncombe Trades Incubator, which creates pipelines for STEM occupations like advanced manufacturing, healthcare and IT. 

5. Drive prosperity through data and research: The use of authoritative data will help guide the region’s recovery and ensure the success of these initiatives. "Economic development is a marathon; it is not a sprint," said Holloway. "Great communities plan every three to five years, but their vision is on a 30-40 year horizon."

"Because of all the hats I wear as an Asheville native, a business owner, an employment lawyer, I’ve seen the grit and determination of all these communities coming together and recognizing that they have way more in common," said EDC chair Sabrina Rockoff. "And if they work together, they will be stronger and will end up stronger."

Click here to see the full plan.