Floyd Growth Center to be built using $2.6 million in grant funds

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Floyd County, VA – The Economic Development Authority of Floyd County was just awarded a $2.305 million grant from the US Economic Development Administration (their press release attached) for Building 1 of the new Floyd Growth Center This is in addition to the $302,000 grant already awarded for the project by the Virginia Tobacco Region Revitalization Commission. The project cost is estimated to be $2.88 million.

The Floyd Growth Center will be a small campus on Lot 4 in the Floyd Regional Commerce Center providing small graded sites for non-retail businesses. Building 1 will be a 13,000 SF resilient light industrial building on one of those sites. It will have two main spaces: one will be about 4,300 SF and the other about 8,700 SF with each having a production area, drive-in door, and an office suite. The building will have 3-phase power, fiber to the premises with Gigabit service, public water and sewer, and dock-access. It will have special resiliency features including back-up generator, some solar photovoltaic, lightning protection system and reinforced walls and roof.

“When we applied for this last August, our goal was to develop affordable spaces for premium production or fabrication work, where local businesses could grow into and other businesses could consider space in Floyd,” said Jon Beegle, the local EDA Chairman.

“This is an exciting grant award. This project will provide construction work in the short-term and in the long-term will support more higher-wage job opportunities for those with technical and trade skills,” said Joe Turman, Chairman of the Floyd County Board of Supervisors. We deeply appreciate the support from the US EDA and the Virginia Tobacco Commission.”

Construction is expected to begin by the spring of 2021 on the building.

“We were very fortunate to get this US EDA funding,” Lydeana Martin, the Community and Economic Development Director shared. “They had special funding to help communities affected by Hurricanes Florence and Michael in 2018. Thanks to input from more than 50 local businesses, we were able to document the impact of those storms including loss of power, blocked roads, and flooding. This building will provide a more resilient option to businesses looking for non-retail space.”

“It’s very expensive to create good building pads and to construct business facilities,” according to Beegle. “And many businesses cannot afford to do so. Leasing often fits their business model better, especially in the early years of the business.”

The Floyd County EDA completed the Floyd Innovation Center in 2015. It provides spaces from 120 SF to 4,300 SF for businesses. It is fully occupied.

The Tobacco Commission is committed to developing a diverse economy in Southern and Southwest Virginia. Having infrastructure including sites and facilities is an important part of accomplishing that goal and the Commission looks forward to continuing to support projects that will bring jobs and investment to the areas served.

For more information, contact Lydeana Martin at the lmartin@floydcova.org or 540 267-4083.

site selection; top metro

Virginia’s New River Valley Top 10 Metro for Site Selection

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New River Valley, VA – The Blacksburg-Christiansburg-Radford metropolitan statistical area, known locally as the New River Valley, has been named a “Top Metro” for 2018 by Site Selection magazine. The 2018 rankings were split into three Top 10 lists based on population, including less than 200,000, 200,000 to 1 million, and over 1 million. Among metropolitan areas with populations less than 200,000, the NRV ranked No. 10 (tie) nationally with six new or expanding corporate facility announcements in 2018. The NRV has consistently held the 10th spot for the past two years. This past year in the New River Valley, six companies have announced projects that are investing a total of $405,702,500 million and creating 1,490 jobs. Published by Conway Inc., Site Selection delivers expansion planning information to over 48,700 readers including corporate executives, site selection consultants, and real estate professionals. The annual “Top Metros” rankings appeared in the March 2019 issue. In order to be considered in Conway Project Database, projects have to meet specific requirements. New construction must meet one or more of the following qualifying criteria:
  • 20 or more new jobs created
  • 20,000 sq. ft. or more
  • $1,000,000 or more investment
Office and/or industrial leases must have an investment of at least $1 million plus add 20 jobs or at least 20,000 sq. ft. of new space. Project also must fall into one of the following categories:
  • Manufacturing
  • Call Center
  • Headquarters
  • Data Center
  • Distribution Warehouse
  • Office
  • Research and Development
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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.” Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.
New River Valley Commerce Park

New River Valley Commerce Park Video

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VIRGINIA’S NEW RIVER VALLEY — Virginia’s First Regional Industrial Facility Authority (VFRIFA) recently released a new video for the New River Valley Commerce Park. The 1,000-acre park is development ready and strategically located in Virginia for easy shipping and distribution on the East Coast.

New River Valley Commerce Park

Immediately adjacent to the New River Valley Airport and 3.5 miles from Interstate 81, New River Valley Commerce Park makes this an ideal property for industrial development. The site is certified by McCallum Sweeney as an AEP Quality Site-Large Park. It is also considered a Tier 4 site by VEDP’s Virginia Business Ready Sites Program.

The video is also available on the VFRIFA YouTube page.

For more information, visit www.nrvcommercepark.com.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

New River Valley Commerce Park

NRV Commerce Park Mentioned in Japan Times

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The Japan Times recently mentioned the New River Valley Commerce Park in Dublin, VA.

Pulaski County is home to many international manufacturers, and the New River Valley Commerce park is ready to help locate even more. The Japan Times noted that Virginia is eager for Japanese partnerships.

FROM THE JAPAN TIMES:

While Virginia is home to many companies from around the world, the southwest region of the state wants to form stronger ties especially with Japan, according to Virginia’s First Regional Industrial Facility Authority, which is promoting its New River Valley Commerce Park.

Board Chair Mary Biggs explained: “Relationship-building with Japanese companies takes a lot of time and effort, but it’s very rewarding. It gives us time to understand how their companies do business, so we are better prepared to provide assistance when they locate here.”

View or download information about the New River Valley Commerce Park.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Montgomery County EDA Purchases 124 Acres to Expand Falling Branch Corporate Park

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MONTGOMERY COUNTY, VA – Montgomery County’s Economic Development Authority (EDA) will close on the 124 acres of property adjacent to the County’s Falling Branch Corporate Park at a cost of $2.5 million (or roughly $20,161 per acre) today, November 21, 2017.

“This is a step forward in diversifying opportunities both for existing businesses within Montgomery County to expand as well as to attract new businesses,” said Montgomery County Board of Supervisors Chair, Chris Tuck.


“This purchase allows us to increase our tax base, which will potentially lead to the creation of new jobs with the advent of current businesses having the necessary space to grow as well as new businesses entering Montgomery County,” said Tuck.


The EDA entered into a contract with Cox Family Farms, LLC on May 27, 2017. Upon entering into the contract, the EDA had 180 days to perform due diligence on the property, which included the rezoning request process as well as geotechnical and environmental studies. Rezoning applications with both Montgomery County and the Town of Christiansburg were filed for the property on May 30. Rezonings with both the County and the Town were completed and approved by September 26.


“Prior to this planned expansion of Falling Branch Corporate Park, the largest lot available was about 16 acres, making it a challenge for Montgomery County to attract businesses that need larger lot sizes, said Tommy Loflin, Chair, EDA. “I’m happy we have addressed this issue and are making great strides in expanding the corporate park.”


Currently, Falling Branch Corporate Park is comprised of a total of 175 acres, with 146 acres occupied by businesses including Aeroprobe Corporation, Backcountry.com, DISH Network, Ferguson Enterprises, Inc., Inorganic Ventures, Polymer Solutions Inc., and Prestar Packaging, The recent purchase will add 124 acres to the existing available 29 acres.


“I’d like to congratulate Montgomery County on acquiring this land,” said Charlie Jewell, Executive Director, Onward New River Valley. “The property is highly attractive for larger projects and will aid our efforts to attract new businesses to the area. We look forward to working closely with the County to begin marketing this asset to prospective businesses.”


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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.


Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

$1.5 Million Awarded to Begin Phase 2 of Floyd Regional Commerce Center

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Floyd, Virginia: The Floyd County Economic Development Authority (EDA) has been awarded $1.5 million in grant funding to begin Phase 2 of the Floyd Regional Commerce Center. Senators Mark Warner and Tim Kaine announced $1,081,958 in Appalachian Regional Commission grant funds to construct a road and sidewalks into a 51-acre tract that is part of the 169-acre business park. The Virginia Tobacco Region Revitalization Commission then approved $420,696 in grant funds to extend water, sewer and fiber into the tract as well.

The Floyd Regional Commerce Center is about a half-mile from the Town of Floyd, and one of only a few large tracts in the County served by public water and sewer. The property is adjacent to an Appalachian Power substation with multiple leads and Citizen Telephone’s 200-Gbps open access fiber network. The Floyd Regional Commerce Center is recognized as a Giga-Park due to its extraordinary telecommunications network. Ultimately these 51 acres will net about 27 acres of building sites, though this first step is providing road access and utilities. The property is bordered by a 60+ acre greenway where the EDA anticipates providing a walking trail in the future.

Currently, the County and EDA have only two pre-graded sites remaining available for expanding or relocating businesses. In the past couple years, 5 sites in the Floyd Regional Commerce Center and Floyd County Industrial Park have been sold, leased or built-upon.

“We’ve seen a lot of business growth in the past 4 years in Floyd County—with the number of businesses up 8.5%, the number of people employed within the County up 5.9%, and the average weekly wage up 14%,” said Case Clinger, Chairman of the Board of Supervisors. “However while we are grateful for recent successes and momentum, we still have a 70% out-commuting rate and among the lowest local wages in Virginia. Clearly we need to continue to work to strengthen and diversity our economy–including supporting local business expansion and targeting right-fit businesses.”

“Developing more sites is a top priority for the EDA, and extending the road and utilities is the first step of that,” said Jon Beegle, Chairman of the EDA. “We are very grateful for the strong support from the Floyd County Board of Supervisors, who provided funding for a preliminary engineering report necessary to pursue the grant funds, and to ARC and the Tobacco Commission.”

Floyd County provides a broad range of support for existing businesses and entrepreneurs. In the past couple of years, the County and EDA have:

    Successfully sought $500,000 in Tobacco Commission Research and Development for Hollingsworth & Vose, the largest private employer in the County;
    Built the Floyd Innovation Center in the Floyd Regional Commerce Center, now home to 8 small businesses;
    Provided many free business development workshops to more than 250 people in the past 3 years—from how to start or grow your business, to how to access R&D funding, to specialty workshops for food, farming and wood-related businesses.
    Provided business loans to more than 15 small businesses, and last month received an additional $75,000 from USDA Rural Development to loan to small businesses.

For more information, please contact Lydeana Martin, Community and Economic Development Director for Floyd County at 540 745-9300 or lmartin@floydcova.org.

Lydeana Martin
Community and Economic Development Director
Floyd County
PO Box 218
Floyd, Virginia 24091
www.floydcova.org

Contact me if you’re interested in starting or growing a business in Floyd County

And check out www.yesfloydva.org or www.facebook.com/yesfloydva

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Virginia’s New River Valley: For those searching for a beautiful place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.