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Cost Advantages Bolster Economy in the Roanoke Region of Virginia

We crunched the numbers on recently published findings, and they tell a story that we here in the region already know – when it comes to the cost of doing business and the cost of living, the Roanoke Region offers serious advantages. Moody’s recently released data on the cost of doing business indicating Roanoke sits 18% lower than the national average.

This index incorporates costs including workforce, energy, taxes, and real estate to arrive at a national comparison. These cost advantages are fueling the region’s competitiveness and increasing economic growth projections.

Cost of living adds depth to this story as a complex mix of metrics that showcase the overall affordability of a region in a multi-faceted world. Numbers released by the Council for Community and Economic Research ranked the Roanoke metro area as the 57th lowest-cost metro in the nation with costs lower than 78% of participating metros, and 11% less than the national average.

Cost of Living Overall Third Quarter 2021
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Roanoke Innovates

Roanoke Innovates Connects Business with Resources

We’re looking for innovative researchers and clinical professionals searching for the opportunity to build something special in a collaborative community.

Roanoke Innovates is a collaborative community of entrepreneurs, businesses, government agencies, and higher education professionals working to create opportunity and success in research, healthcare, and technology. And it’s all located in a Virginia mountain metropolis, knowns for its beauty and livability, with plenty of opportunity for growth.

Since the Roanoke Region of Virginia planted a flag for the area to develop around the health and life sciences, more than $1 billion in capital has been invested in facilities and programs in the urban core alone, including the launch of a new research institute (now the Fralin Biomedical Research Institute at Virginia Tech Carilion) and the Virginia Tech Carilion School of Medicine.

The transition from a “train city to brain city” was an intentional effort by community leaders anchored in these institutions, which has now attracted thousands of top researchers, physicians, faculty, students, and medical professionals to the Roanoke Region’s innovation corridor.

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Matt Miller Named Director of Market Intelligence at Roanoke Regional Partnership

The Roanoke Regional Partnership welcomes Matt Miller as the new director of market intelligence. He has assumed the data analysis and market intelligence role previously performed by John Hull, who was selected as the Partnership’s executive director earlier in 2021.

Matt is one of several top talent recruits starting at the Partnership this year. His 25 years of experience in the region working on demographic research, economic impact analysis, mapping, and planning with the Roanoke Valley-Alleghany Regional Commission made him a perfect match for this high-caliber team.

“Matt and I have had an excellent working relationship for years, we’ve always collaborated and shared data intelligence to advance programs throughout the Roanoke Region,” said John Hull, executive director of the Partnership. “It was my pleasure to recruit Matt to the Partnership team, I have no doubt he’ll be a valuable asset.”

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“Roanoke Reawakening” Featured in Virginia Business

The article by Virginia Business (see excerpt below) featured the Roanoke Regional Partnership’s executive director John Hull and several economic development partners, focusing on the uptick in economic development activity driven by regional revitalization strategies.

The article highlights Partnership-led, forward-thinking investments in infrastructure, strategic planning for revitalization, and a marketing approach that touts the area’s outdoor amenities which have led to recent sizable investments.

Munters Group AB, Cardinal Glass, Stik Pak, Balchem Corp, Valley Star Credit Union, Mack Trucks, the new Carilion Children’s facility, and the redevelopment at 419 Town Center are all mentioned as examples of this success in the story. Together these investments add up to a whopping $126.3 million.

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