A Conversation between BSV and VGR at Brew & Blossom
Across Virginia’s Gateway Region, investors make the Region’s collective mission possible. They power the marketing, relationship-building, site development and problem-solving that attract and grow jobs.
Last month at Brew & Blossom in Downtown Hopewell, we sat down with two leaders who live that partnership every day: Will Clements, Chairman/President/Chief Executive Officer of The Bank of Southside Virginia (BSV), and VGR President and CEO Keith Boswell. They spoke about legacy, impact and why a “rising tide” really does lift all boats.
BSV has been there with VGR since the beginning. Can you talk about the history of that involvement?
Clements: BSV is woven into the fabric of this region, so it only makes sense that we’ve been a partner with VGR since its earliest days. My father, Peter Clements, was one of the longest serving board members, joining in 1988 and eventually taking on roles as chair, vice chair and with various committees. In fact, he was on the interview panel that hired Keith. That history is important because it shows we’ve always believed in this work.
Boswell: When an investor comes in that says, ‘Look, VGR is doing something important for the community, and we believe in that,’ that encourages us to continue our mission to keep the region’s growth engine turning.
What does BSV gain from this partnership, and what does the region gain in return?
Clements: We’re based in the heart of the region in Carson, and we have 100 employees across 15 locations. VGR steps in to become an extension of our bank’s ability to grow business and develop the footprint we’re in. For us, it’s about the multiplier factor. We don’t believe in standing alone, but instead are committed to bringing all communities across the region together. For example, our bank has found networking opportunities we might not have known about before. Being an investor gives you access and opportunities that are completely off your radar.
Boswell: Hopefully, just as for all of our investors, they are confident that we are paying attention to the region’s economic prosperity. We’re focused on the expansion side – whether it is existing industry or new industry that’s coming in. We think that’s a tremendous benefit for our stakeholders.
Why does a regional organization like VGR matter?
Clements: I don’t have to look any further than the bank itself. The success of our local bank is a direct reflection on the success of our community. When we operate as a unified regional voice, the entirety of VGR’s footprint is significantly stronger and more impactful than anything we could do on our own. And we credit being integrated into every community in our region for the legacy we have built over the past 120 years, helping businesses and individuals grow.
Boswell: To echo what Will said earlier, being part of VGR can have a multiplier effect to any goals an individual or business might set. We are here as a resource, working to attract new industries and creating career growth opportunities for the people who call this region home. Working together creates efficiency that leads to significantly more opportunity for everyone.
How do quality of life and geography shape the conversation?
Clements: Again, we wouldn’t still be here 120 years later without being an integral part of the community. Together, we make each other stronger and thrive. We know that the geography of this region matters, as there are rivers and natural boundaries that make this a special place and enhance each unique community we serve.
Boswell: Not surprisingly, we’re bullish on this part of Virginia and the benefits of calling this home for business and residents alike. We touch several metro areas, but we don’t carry the burdens and hassles you’ll find in those larger markets. Here, a 45-minute drive to work or home means 45 miles traveled. There’s a great quality of life – and that’s attractive to industries that want to find the right place to begin or grow new operations, in sectors from advanced manufacturing and agritech to pharmaceuticals and energy.
On July 1, VGR expanded its footprint by welcoming the City of Emporia and Brunswick and Greensville counties. What does that mean for our region?
Clements: It’s a wonderful asset we have. It sets aside politics and helps us make the area better. We have one partner, and that’s wonderful. The growth of the VGR footprint aligns quite nicely with the BSV footprint all the way to Emporia, so naturally we are excited about the opportunity for more synergy.
Boswell: There’s a cohesiveness in shared experiences. Our new communities are alike for many of the same reasons – they’re rural and smaller. Also, when you enter Virginia by the Eastern interstates, you find yourself in the Gateway Region.
Let’s talk for a minute about the opportunities you can access as an investor. For example, how does participating in Business Councils and meeting with regional legislators create exponential value?
Clements: BSV and other local businesses can’t create that level of event or access on their own. These programs allow us to engage with local leaders – whether in business or elected roles – within our market and share the same story in one meeting. And seeing our customers in those same venues tells us and provides encouragement that we’re doing the right thing.
Boswell: We often are looking for investors’ input on core topics across the region. Sometimes, those events are educational, but we are looking for issues that we can rally behind for the good of the region. For example, a recent Business Council meeting in Waverly allowed us to gather important insight about issues along Route 460, an important corridor for us.
What would you say to companies considering an investment in VGR?
Clements: Every dollar you invest is instantly multiplied. Don’t take that for granted. When you invest in VGR, you become a co-owner in the future direction of our region. The bigger question is why wouldn’t you want to invest directly in the success of your hometown region?
Boswell: The more investors we attract to VGR, the more doors we can open for the benefit of everyone here. An added benefit is that we’re a 501(c)(3) organization, which provides a potential tax benefit for our investors.
Will – one last question for you. You’re carrying forward your father’s legacy. What has this experience taught you as a leader?
Clements:Always support your market, always support your customers and always support the area. Represent your company, but keep an altruistic mind about yourself and your connected business.