Interstate 81 District South
- Character: This district extends from the Interstate 81/Electric Road (VA Route 419) interchange (Exit 141) to downtown Salem. Range of development in zone includes commercial, residential, education, and manufacturing.
- Opportunity Zone Census Tract #: 51775010100
- Key Assets: Bounded by a high-traffic Interstate interchange and a downtown center with commercial and residential in between. Zone includes Roanoke College (enrollment 2,000) and manufacturers such as Novozymes, Mersen USA, and Parkway Brewing
- 30-Minute Drive Quick Facts (2019):
- Total Population: 260,160
- Population Growth 2010-2019: 3.59%
- Population Per Square Mile: 551.3
- Median Age: 43.2
- Median Household Income: $55,256
- Average Household Income: $75,886
- HS Diploma or Higher: 90.1%
- Bachelor’s or Higher: 39=0.3%
- Total (NAICS11-19) Businesses: 10,265
- Total Housing Units: 117,806
- Owner Occupied Housing Units: 69,401
- Median Home Value: $191,818
- Average Home Value: $247,143
- Infrastructure:
- Water: City of Salem
- Wastewater: Western Virginia Water Authority
- Natural Gas: Roanoke Gas
- Electricity: City of Salem
- Fiber: Total coverage by various providers
- Transportation: I-81, Amtrak, commercial airport
- Federal, State, Local Incentives Available: UDA and Tourism Zone
- Nearby businesses: Baymont Inn, Fairfield Inn, Holiday Inn Express, Robertson Marketing, Novozymes, Parkway Brewing, Mersen USA, Virginia Department of Environmental Quality, Veterans Administration Medical Center, multi-family housing, various retail and commercial development.
- Potential Investment Opportunities: City-owned property at 508-516 East Main Street suitable for hospitality-1+acre.
- Recent investments: Virginia Department of Environmental Quality office; Sharp Flats apartments-$2million; West Salem Body Shop apartments$1.7 million; hotel project on East Main Street-$3million; The Retreat– a luxury multi-family development with 252 units.
Contact
Salem Economic Development
- City Hall
114 North Broad Street
Salem, VA 24153
- Email:econdev@salemva.gov
- Phone: (540) 375-3007
