Reflections from the 2026 Investing Rural America Conference in Asheville

by Luke Pullo - October 8, 2026

The 2026 Investing in Rural America conference sponsored by the Federal Reserve Bank of Richmond brought together practitioners across the country to discuss community economic development in rural America. The conference took place in Asheville, North Carolina between Sept. 30- Oct. 2,  just slightly over two years since Hurricane Helene impacted Western North Carolina.

The conference centered on a theme that resonated throughout the event, The Strength of Rural Places, which lies in the assets, institutions and networks, resilience, and people that shape a community’s success. The conference emphasized to me that sustainable development is not just about overcoming barriers or challenges but recognizing and investing in the existing strengths of a community. 

One of the most important lessons from the conference was that economic opportunity is closely linked to the strength of local institutions and social connections. During his opening keynote, Dr. Raj Chetty introduced his research on economic mobility across the United States, which shows that there is tremendous spatial variation in upward mobility across regions. While Chetty did not understate the role of race, his research found that high-mobility places have several variables in common: lower poverty rates, more stable family structure, better school quality, and more social capital.

He also noted that communities where social networks and class interact provide better conditions for economic mobility. Chetty’s talk underscored the need for place-based policies that strengthen the social and institutional factors that create economic mobility. For rural Arkansas, these include Cooperative Extension Service programs, schools, and community organizations, and institutions that foster opportunity and social connection.

Later sessions reinforced this message. For example, higher education leaders discussed the role of their institutions as anchor institutions that invest in local human capital, health care, housing, childcare, and civic infrastructure, and local businesses. The impact of universities extend well beyond campus operations, and spur human capital, innovation, and community leadership, particularly in distressed communities. Similar opportunities exist in Arkansas where land-grant universities and community colleges are key partners in community development.

A second takeaway of the conference was the community development is most successful when a community builds upon its existing assets and capacity. Before the conference began, I attended a tour sponsored by Rural LISC (Local Initiatives Support Corporation) that focused on cooperative enterprises advancing economic development in western North Carolina. In the Asheville region, PODER Emma and The Industrial Commons are collaborating to strengthen the local economy by sponsoring cooperative business models that create wealth and preserve community identity. The tour included a site visit to El Porvenir, a cooperatively owned cultural and economic development center, and the on-site PODER Emma manufacturing facility. Additionally, the tour included a site visit to the Sourwood community, a resident-owned mobile home cooperative. As a residential cooperative, residents collectively own the land and common areas, protecting the community from displacement and rising housing costs.

In addition to the tour, the focus on asset-based development continued throughout the conference. Sessions on land use planning and policy as well as tourism highlighted that growth is strongest when it is based on local strength. Session facilitators highlighted tools and practical frameworks that balance growth and community character when making land use decisions, and they also discussed how to leverage scenic byways, heritage corridors, agritourism ventures, and outdoor recreation assets as a catalyst for economic development. These presentations reinforced that a community is able to foster growth by investing in its unique resources and characteristics.

This lesson is particularly relevant to Arkansas as part of The Natural State. Rural communities possess unique assets such as agricultural traditions, natural resources, outdoor recreation, and cultural heritage. As such many communities can use these assets to their advantage for fostering economic development.

A third takeaway of the conference was strategic planning, partnerships, and local leadership are essential for economic development. Throughout the event, speakers discussed how communities navigate adversity, such as natural disasters, economic shocks, and demographic change. Panelists emphasized the need for maintaining collaboration and partnerships when navigating recovery and change, as it makes a community more adapted to respond to challenges and seeking new opportunities.

The conference concluded with discussions about the role of emerging leaders in advancing economic development. The discussion highlighted that while infrastructure and investment matter, it is ultimately strong leaders who drive growth in communities. For rural Arkansas, building leadership capacity, particularly among younger generations, will be essential for long-term resilience and growth.

Throughout the conference, the theme The Strength of Rural Places reminded me that economic development in communities is not defined by their challenges, but by the assets, resilience, and people who lead them. From discussions surrounding economic mobility, asset-based development, and leadership cultivation, the conference provided valuable lessons for rural communities across Arkansas. Whether through extension programs, schools, community organizations, agricultural enterprises, tourism initiatives, outdoor recreation opportunities, or leadership development efforts, Arkansan communities can strengthen their futures through the assets they already possess.

I have returned from the conference with a renewed appreciation for asset-based development and capacity building as well as a better understanding that sustainable growth starts by investing in the unique qualities that make places thrive.