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Investor Spotlight: Appalachian Power

Investor spotlightAppalachian Power operates and maintains 60,000 transmission and distribution miles to efficiently deliver power to 1 million customers in Virginia, West Virginia and Tennessee. Our company is part of American Electric Power (AEP), one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including 7,100 megawatts of renewable energy. Every year, we invest millions of dollars to maintain, improve, and expand our system to ensure a safe and reliable product for customers. 

How is the Roanoke Region important to your business?

Appalachian Power has been delivering energy to grow businesses, support education, and spur innovation in our communities since 1911. The Roanoke region is an integral part of the company’s three-state service area. Hundreds of Appalachian Power’s employees make their home in the Roanoke region where we operate distribution, generation and transmission facilities needed to provide safe and reliable energy for our customers. Some of the company’s most recognizable facilities include our historic downtown Roanoke Main Office, Smith Mountain hydro facility, and large transmission operation in Botetourt County visible from I-81.

Why has your company invested in the Roanoke Regional Partnership?

Appalachian Power is more than an electric company. We are a partner and neighbor and understand the important role economic development organizations play in an area’s success. Everywhere we serve, we work to build relationships and better communities. Our support and involvement in economic development helps companies create jobs, expand operations, and locate facilities in our community.

Company information:

  • Top Officials: Chris Beam, President & COO; Brad Hall, External Affairs Vice President; Aaron Walker, Distribution Region Operations Vice President; John Scalzo, Regulatory & Finance Vice President; Michael Zwick, Generating Assets Vice President 
  • Website: www.AppalachianPower.com
  • Phone: 1-800-956-4237
  • Social Media Channels: Facebook, Twitter, Instagram 

Click here for our full list of investors by industry.

Interested in becoming an investor? Click here to learn more.

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Roanoke Regional Road Trip

The Roanoke Region is no longer a hidden gem; it’s nationally recognized for its high quality of life and low cost of living, diverse metro economy, and outdoor infrastructure. There’s been a concerted (and successful) effort to put the region on the map, and we must continue to keep it top-of-mind. That’s why we’re hitting the road (and the skies) in the coming months to talk with site selectors, industry experts, and outdoor businesses. Take a peek at our upcoming trips!

Click here to view larger imageInfographic showing the Partnership's travel plans for the year.

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Three Local Leaders Receive Women in Leadership Awards

Cover of Virginia Business Magazine, July 2022 IssueVirginia Business recently announced its picks for the Women in Leadership Awards, and we’re excited to share that three of the winners are not only women from Roanoke, but women from companies that invest in the Roanoke Regional Partnership.  Nancy Agee of Carilion Clinic, Mary Ann Gilmer of Goodwill Industries of the Valley, and Cathy Underwood of Branch Builds were among the field of 42 women who are leading the way in their industries.

To win, nominees must be “based in Virginia and hold C-suite or equivalent positions at for-profit businesses, nonprofits or education institutions.” Some of the winners overcame great obstacles to achieve success, all are making their communities better, and “all this year’s winners have made time for mentoring other women along the way, making sure that the doors they’ve walked through remain open to future generations.” Virginia Business received over 300 nominations (over 100 more than previous years), adding to the exclusivity and prestige of this honor.

These leaders are incredibly deserving of recognition for all they’ve done for their organizations, the region, and for other women. And we’re not surprised. They work for organizations that see the value in their people and community. Carilion, Goodwill, and Branch Group are all investors with the Roanoke Regional Partnership and see the value we bring to business attraction, talent attraction and workforce development, market intelligence, asset development, and livability. In fact, Cathy Underwood served as campaign co-chair for our Thrive 2027 fundraising campaign that surpassed its fundraising goal by more than $400,000. Her help was crucial to the campaign’s success.

Once again, congratulations to Agee, Gilmer, and Underwood. We’re honored to work with these smart, business-savvy, and accomplished leaders. With these women at the helm, the Roanoke Region is on course for continued economic growth and success.

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Thrive 2027 Campaign is a Success: Private Sector Makes Commitment to Support Future Prosperity

Several men holding plants smiling at the camera in a conference room
John Hull, Roanoke Regional Partnership executive director, with the Thrive 2027 Campaign Leadership team.

Thanks to the support and commitment of 122 businesses and organizations who made the decision to invest in the Roanoke Regional Partnership.  The Partnership’s Thrive 2027 Campaign surpassed its $3.6 million fundraising goal and brought in more than $4 million, demonstrating the Partnership’s strength and value as the leader in regional economic development, business attraction, talent, and placemaking.

These funds will accelerate the local economy and enhance the region’s competitiveness for business and talent attraction.

John Hull, executive director with the Roanoke Regional Partnership, said, “More than 122 businesses and organizations including 31 new investors across all sectors representing the diverse geography of the Roanoke Region of Virginia have made the commitment to invest in future growth for our great region. The economic progress that we have seen and will continue to enjoy is made possible by the leadership and investment of both the public and the private sectors working together.”

The Thrive 2027 Campaign is a five-year plan with four focus areas: economic growth and innovation; talent attraction and workforce development; commercial real estate and infrastructure; and place making and livability. Simply put, these are the Partnership’s marching orders for the next five years. Success measurements for these initiatives are the creation of 3,000 new jobs, $350 million in capital investments, a 10-percent increase in the number of in-migrants, a 15-percent increase in per capita income, and a 300-percent increase in inventory of certified sites by 2027.

While there are four different areas of focus for the plan, each is connected and builds upon the other. By highlighting the livability of the region and marketing the outdoor assets current residents enjoy, we’re attracting a talented workforce. By ensuring we’re ahead of the game with marketing intelligence for the regional economy, we can help local governments and the private sector make sound decisions as related to real estate and workforce development. The beauty of this plan is that by focusing on one aspect, they should all improve.

Although the fundraising campaign officially ended in May, the Partnership continues to recruit new investors. Our partners are already witnessing successes with theexpansion of local businesses like Wurth Revcar and Lowe’s and adoption of new degree programs by higher education institutions to support the region’s current and future workforce. Additionally, the volume of interest in our market from outside prospects remains steadily high.

The private sector investments match the investment of eight local governments who have been longstanding supporters and daily working partners of the Roanoke Regional Partnership in making a regional economic impact– Alleghany County, Botetourt County, Franklin County, Roanoke County, the cities of Covington, Roanoke, and Salem, and the town of Vinton.

The Roanoke Regional Partnership has built an impressive record of generating significant economic wins and building a strong, diverse economy. With the continued support of regional businesses and government, the Partnership is poised to produce economic wins and contribute to the prosperity of the Roanoke Region of Virginia.