Interstate 81 District South

  1. 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.
  2. Opportunity Zone Census Tract #: 51775010100
  3. 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
  4. 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
  5. 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
  6. Federal, State, Local Incentives Available: UDA and Tourism Zone
  7. 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.
  8. Potential Investment Opportunities: City-owned property at 508-516 East Main Street suitable for hospitality-1+acre.
  9. 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: mpayne@salemva.gov
  • Phone: (540) 375-3007