Economic Development

The Roanoke Valley of Southwestern Virginia

 A lush and sprawling green landscape at the foothills of the Blue Ridge Mountains, the Roanoke Valley is an ideal environment for companies to establish a North American presence. A business friendly region with a wide variety of manufacturers, services providers, and healthcare and educational institutions, the Valley is home to transportation-related equipment, biotechnology, fiber optics, food processing, plastics, and other industries.

The region offers prime real estate, low costs, a strong labor pool, low crime, arts and culture, outstanding outdoor recreation, professional and college sports teams, and a central location that is easily accessible by several Interstate highways. The Roanoke Regional Airport supplies jet service with non-stop daily flights to New York City, Chicago and Atlanta. Roanoke is the largest metro area in western Virginia and serves as the commercial, medical, cultural, and retail center for a population of more than one million residents.

Since 1983, the Roanoke Valley has attracted more than 70 expansions and relocations. These relocations represent more than 9,700 direct jobs and $772.1 million in investment.

Reasons why companies start-up or relocate to the Roanoke Valley:

Location

• Central location, within a day's drive of two-thirds of the U.S. population.
• Convenient jet service including 100 arrivals and departures daily, an inland port and a large UPS hub.
• Named one of “America’s 50 Hottest Cities” for business expansion and relocation, Expansion Management (2000 & 2001).
• Named 10 Best Places to Raise A Family, Parenting.
• Named 10 Healthiest Places to Live, Kiplingers.
• Located in the foreign trade zone.

Resources

• Labor Pool of more than 356,000 people provides an ample supply of productive workers.
• 19 colleges & universities.
• 73,259 students with 12,884 annual graduates
• Fastest growing cargo port, and local US customs presence.
• Active biotechnology council.
• Active international trade association

 

Low Cost

• Electricity costs among the lowest in the U.S.
• Costs of living substantially below the national average.
• A positive labor climate where only 2 1/2 percent of the Valley's manufacturing workforce is unionized.
• One of the lowest corporate income taxes in the US.

More information on Economic Development...

State Enterprise Zone Incentives

Technology Zone Incentive Summary