2024 Annual Report The Year In Review Roanoke Regional Partnership
Letter from the
Executive Director
The Roanoke Region has emerged as a hub of innovation, collaboration, and growth, making 2024 another year of remarkable achievements. Our strategic efforts to attract businesses, foster research and innovation, and promote outdoor lifestyle opportunities have solidified the region’s position as a premier destination for talent and investment. Anchored by key assets like Carilion Clinic, Fralin Biomedical Research Institute, and Virginia Tech, we continue to build an ecosystem that merges cutting-edge research with a supportive business environment.
This year, we’ve celebrated milestones that reflect the vibrancy of our region. From advancements in biotech and manufacturing to the expanding outdoor economy, the synergy between our natural resources and economic initiatives has created unparalleled opportunities. As we look ahead, we remain focused on cultivating partnerships, investing in transformative projects, and telling the compelling story of what makes the Roanoke Region truly exceptional.
Thank you to our partners, stakeholders, and community members for your unwavering support in shaping the region’s bright future. Together, we are forging a path of innovation, resilience, and sustainable growth.
Thrive 2027 Mid-Cycle Review
We’re happy to report that our Thrive 2027 goals are ahead of schedule. Our investors helped us surpass our fundraising goal by over $400,000 in 2022, and we’ve had our foot on the gas ever since. The fruits of those efforts are obvious.
Now, interest in the region is at an all-time high. And work is producing RESULTS including employment creation and investment attraction that outpace projections.
Economic Impact
Investment
$493.5 Million Capital Investment
(141% of total goal)
Employment
$265 million Economic Impact
The projects announced by the Roanoke Regional Partnership and its local partners will contribute a remarkable $265 million to the region’s economy once implemented. Health care and manufacturing will remain leading economic contributors regionally, reinforcing their critical role in driving the regional economy. Projects announced will contribute to diversity and to greater opportunity moving ahead for residents, governments, and Partnership investors. These industries provide stability and create meaningful career pathways for residents contributing to area income, vibrancy, and demand for additional goods and services.
Announced Employment
In 2024, the Roanoke Region celebrated the creation of 390 new jobs and $161.5 million in capital investment, underscoring the area’s appeal as a thriving business hub. Key contributors included Mack, Amazon, Universal Logistics, Shrewd Outdoors, Tiny Cargo, Homestead Creamery, and Goodwill. Notably, more than half of these job announcements came from business expansions, a testament to the region's strength in retaining and supporting growing companies.
One standout success was Tiny Cargo, a spin-off from the Fralin Biomedical Research Institute, exemplifying the region’s ability to translate cutting-edge research into economic opportunities. Tiny Cargo represents the first product to be manufactured in the region at scale as a result of biomedical research from the region’s Innovation Corridor. These investments reflect the Roanoke Region's dynamic ecosystem, where innovation, strategic location, and a supportive business environment converge to drive economic growth.
Employment Growth:
Leading the Way
The Roanoke Region continues to outpace its peers in employment growth, with a 2.2% increase in 2024—surpassing the averages for Northern Virginia, the state of Virginia, and the nation. Key sectors driving this growth include healthcare and education, as well as construction, which highlights the region’s diverse and dynamic workforce.
In addition to creating 390 new jobs in 2024 through projects with companies like Mack, Amazon, and Tiny Cargo, the Roanoke Region accounted for half of Virginia’s manufacturing growth from 2019 to 2023. These achievements reflect the strength of the region’s business retention and expansion efforts and its ability to cultivate new opportunities that benefit businesses and residents alike.
Stealing Screen Time
When consuming information, people are 95 percent more likely to remember something from a video than reading it. That’s why we’ve developed three videos focusing on three themes: business investment, innovation, and talent/livability in the Roanoke Region. These videos will be used as marketing tools for different audiences to showcase our community as a place where you and your business can thrive. Give them a watch!
Project Numbers
Opportunities are up over 100% since 2019
The Roanoke Region continues to experience impressive growth in project opportunities, with a 100% increase since 2019. In 2024, the Roanoke Regional Partnership generated 492 opportunities, reflecting its growing reputation as a prime destination for business investment and expansion. Strategic efforts to enhance outreach, foster partnerships, and showcase the region’s assets have fueled this consistent upward trajectory.
- 2019
- 2020
- 2021
- 2022
- 2023
- 2024
This sustained increase in activity reinforces the Roanoke Region’s position as a leader in attracting and supporting economic opportunities.
Two New Websites
You don’t get a second chance at a first impression, and your first impression is typically your website. That’s why it’s vital to have a clean, modern, and effective site. In 2024, the Partnership unveiled two new websites, Roanoke.org and Get2KnowNoke.com. Both have seen large increases in traffic and have paved the way for a better user experience.
Roanoke.org users jumped 156% with the launch of the new site
Get2KnowNoke.com users jumped nearly 500% jump from the previous year
Get2KnowNoke.com is a cutting-edge online platform designed to be the go-to resource for individuals looking to start and grow their careers, find a place to live, and connect with the people and places that fit their lifestyle. The stand-out tools on this site are the where-to-live tool, the jobs board, and the revolutionary talent network.
Marketing Numbers
Digital marketing efforts continue to successfully reach, engage, and convert audiences. The social media channels, geotargeted campaigns, email lists, and newly designed websites all provide relevant messaging that strategically supports the overall regional narrative: the Roanoke Region makes business, innovation, talent attraction, and living easy. And as all of these KPIs continue to rise, it’s clear that it’s working.
Social 132,550 followers | Web Visitors 426,300 | Email contacts 36,272
Extras
Ann Blair Miller, Special Advisor, named to Top 50 Economic Developers in North America
Executive Director John Hull was named to Southern Business and Development’s “Under 50 to Watch” list
Director of Marketing, Stephanie Long, won an American Advertising Federation ADDY award for the Mountains Meet Metro Gift Box
Brand Building Events
The Roanoke Outside Foundation had a banner year, celebrating 15 years of the Blue Ridge Marathon and hosting a record-setting Down by Downtown Festival. The GO Outside Festival expanded to a second location at Explore Park, showcasing the mountain-metro vibe that makes our region an ideal place to live. Combined, these events attracted over 56,000 attendees, generated $5.4 million in economic impact, drew participants from 42 states and nine countries, and provided $46,250 in event revenue to reinvest into the outdoor community.
- Attendance56,000
- Total Athletes4,340
- Total Volunteers1,011
- States42
- Countries9
- Total Economic Impact$5.4 Million
- Event Revenue Donated
to Outdoor Community$46,250
Talent Numbers
In-migration
Net in-migration in 2024, according to Moody’s Analytics, is projected to be nearly three times (267%) that of 2020, underscoring the region’s growing appeal to new residents.
In-migration Totals
-
2020
(643) -
2021
(732) -
2022
(1012) -
2023
(1322) -
2024
(1600)
Since 2020, the Roanoke market has added over 3,300 jobs in education and health sciences and 1,700 in advanced manufacturing — growing significantly the volume of middle-class opportunities. That’s 5,000 good-paying jobs in four years.
Hosted first annual Future of Talent Summit
The goal of this event is to create innovative solutions around how employers and education institutions collaborate to develop future talent. Attendees included local governments, economic development offices, school systems, higher education institutions, and our region's leading employers.
215 attendees (41% from the private sector)
Interns
Providing internship opportunities is important for keeping talent in the region. It connects them to the community, builds loyalty, and helps employers train people for permanent positions. We’re a small office of 9, so if we can do it, you can, too!
Onboard ROA
In only its second year, this eight-week summer onboarding program integrates interns, new hires, and remote workers with regional employers and our thriving community.
46 participants which is a 43% increase over the previous year
Our goal is to get to 100 participants in the next few years. Please consider signing up your recruits, new hires, interns, remote workers ages 18-26 to get them connected with our community and to retain our region's talent.
Project Outside
From river access improvements to trail building, this grant fund created by Roanoke Outside has invested community donations into improving regional outdoor assets. In 2024, nine projects received $25,000 in funding, bringing the total to $175,000 invested in 33 regional projects.
- NineProjects
- $25,000in funding
- $175,000total invested
- 33regional projects
The Roanoke Region Stands
Stronger Than Ever
As we reflect on 2024, it’s clear that the Roanoke Region is thriving like never before. Surpassing strategic goals, attracting record investment, and strengthening key industries, we are laying the foundation for sustained prosperity. Our success is not just measured in numbers but in the growing energy, opportunity, and innovation shaping our community. With strong momentum and a commitment to collaboration, the Roanoke Regional Partnership looks ahead with confidence—ready to elevate the region to even greater heights. Thank you for being part of this journey.