NRV Companies Announce 2,530 Jobs and $551 Million in Investment Since 2018

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New River Valley, VA – Virginia’s New River Valley has seen great economic success in the last 5 years. 24 new or expanding companies announced plans to create 2,530 jobs and invest over $551 million in the NRV region.

Onward NRV, the regional economic development organization for Virginia’s New River Valley, reported that the economic growth surpassed their goals set in their Onward 2023 five-year strategic plan for the region. Their original goals were $180 million in new capital investment and 1,720 new jobs.

Onward NRV Executive Director Katie Boswell said, “Virginia’s New River Valley is a great place to live, work, and do business, which is why so many companies have located or expanded in our region over the past five years. We appreciate the businesses who choose to grow in our region, which helps to bring jobs and economic vitality to the New River Valley. Finally, we are grateful for our partnerships with our local economic development organizations, the Virginia Economic Development Partnership, and the many other regional stakeholders that contribute to economic development. Without collaboration, these projects would not be possible.”

Here are some selected wins that highlight the New River Valley’s economic growth and success over the past five years:

  • Volvo Group announced in June 2019 that they would invest nearly $400 million to expand its Volvo Trucks North America assembly operation in Pulaski County, creating 777 new jobs.
  • Torc Robotics announced in August 2020 they would create 350 new jobs and invest $8.5 million to expand their software development operations in Montgomery County.
  • Oransi announced in April 2021 they would create 101 new jobs and bring their first manufacturing facility to the City of Radford, investing $5.6 million.
  • Hollingsworth & Vose announced in January 2023 that they would expand one of their two existing plants in Floyd County, bringing $40.2 million in capital investment and 25 new jobs.

Browse press releases from NRV economic development announcements over the past five years here.

Explore the Virginia Economic Development Partnership’s list of economic development announcements here.

Virginia’s New River Valley is the perfect location to let your business flourish. The area is affordable, accessible, innovative, and enjoyable. To learn more about doing business in Virginia’s New River Valley click here.

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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.

Two NRV Companies Graduate from VALET Trade Accelerator Program

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Montgomery County, VA – Two companies from Virginia’s New River Valley recently graduated from the Virginia’s Leaders in Export Trade (VALET) program held by the Virginia Economic Development Partnership (VEDP). VALET is a two-year international business initiative that was established to help support and provide education to Virginia companies interested in increasing their international exports.

In a recent press release, Governor Glen Youngkin announced that ESS Technologies and MELD Manufacturing Corporation , both of Montgomery County, were among the 11 companies that graduated from the VALET program in 2023.

Governor Youngkin said this about the VALET program:

“International trade is a key component of advancing economic growth and prosperity in Virginia, and the VALET program is a vehicle that provides the tools and resources for our existing businesses to expand into the global marketplace. We congratulate these Virginia companies on taking proactive steps to grow international sales and look forward to their future success.”

Read the full press release here.

Learn more about VEDP’s VALET program here.

Learn about the NRV businesses who have participated in the VALET program here.

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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.

Montgomery County Receives GO Virginia Grant for Falling Branch Site

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Montgomery County, VA – Falling Branch Corporate Park located in Christiansburg was one of eight projects recently awarded a GO Virginia grant. Falling Branch will receive $324,000 to help continue the development of the site, taking it from a Tier 4 site to a Tier 5 site. A Virginia Economic Department Partnership (VEDP) Tier 5 site has all the infrastructure and permits in place for development and is business ready.

GO Virginia is a program created to boost Virginia’s economic growth by supporting the development of projects that grow targeted industries and generate jobs in every region of the state.

Virginia Governor Youngkin said,

“These GO Virginia projects exemplify our commitment to fostering economic growth and creating opportunities across various regions. By removing barriers to entrepreneurship, improving industrial sites and increasing the number of Virginia’s shovel-ready sites, we are propelling the growth of targeted industries and clearing pathways for sustainable employment.”

According to GO Virginia, Falling Branch Corporate Park “will be the only Tier 5 site in GO Virginia Region 2 and is designed to support firms in advanced manufacturing, life sciences and biotechnology, as well as logistics.”

Read the Governor’s full press release here.

Read the full list of the June 2023 GO Virginia grant winners here.

Learn more about the Falling Branch Corporate Park and other available sites in Virginia’s New River Valley here.

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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.

Efforts to Retain NRV Talent Featured in Virginia Business Magazine

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New River Valley, VA – Virginia’s New River Valley was recently featured in a Virginia Business article on talent retention in the area.

The article spoke about how both the New River Valley and the Roanoke region are working to retain students and tap into remote workers looking for a better quality of life that the larger metropolitan areas don’t offer.

John Provo, executive director of Virginia Tech’s Center for Economic and Community Engagement was quoted as saying that “students are the largest export” of the region because of universities like Radford and Virginia Tech.

Students don’t typically stay in the region because they don’t know all that it has to offer. Programs like Onward NRV’s NRV Experience were created to educate and show off the New River Valley to summer interns working in the area. The program features five community excursions and professional development trainings throughout the summer. Onward NRV hosts the program in collaboration with local tourism directors and economic developers in the region. The livability of the region is a huge asset for talent recruitment and retention with access to the Blue Ridge Mountains and a cost of living that makes life easier. The NRV has a lot to offer to those who choose to live and work in the area.

Read the article here.

Learn more about the NRV Experience here.

Discover why Virginia’s New River Valley is a natural fit for anyone looking for a place to call home and do business here.

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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.

VT Led Coalition Receives GO Virginia Grant

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Montgomery County, VA – Virginia Tech recently reported that they received a GO Virginia Grant for the Automated-Connected-Electrified (ACE) coalition. The coalition, which is led by Virginia Tech, was awarded $500,000 in state aid and $251,300 in matching non-state funding. According to the article, the resources will be used “to advance Southwest Virginia’s manufacturing, transportation, and autonomous vehicles sector by scaling up the talent pipeline to train and retain workers.”

The ACE partnership includes companies like Torc Robotics and Volvo as well as community leaders and higher education partners. With this collaboration, the expectation is that the program will fill much needed workforce gaps in the manufacturing sector and allow companies to have an education platform that will fit their requirements.

The grant will help the team to develop hands on training for the skills necessary to be successful in a manufacturing landscape that uses smart technology to enhance the industrial process.

Read the full article here.

Virginia’s New River Valley offers outstanding educational opportunities, with world-class universities and colleges throughout the region. This creates a natural pipeline of talent for any company that chooses to do business in the NRV. Explore all the NRV has to offer here.

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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.

Virginia Claims Top Honors in Multiple Categories

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New River Valley, VA – Home of more presidents than any other state, Virginia has a long and rich history that attracts quality jobs and world-class education. Virginia has a diverse blend of small towns, city attractions and the ambiance of the country. With such a historical tradition of excellence and beauty, Virginia’s list of accolades can only continue to grow.

Here are some of the Commonwealth’s recent rankings:

The New River Valley is a ‘natural fit’ for anyone looking to live in a region of the Commonwealth of Virginia. With access to outdoor recreation, fine arts, high quality employment, and unmatched educational opportunities, it’s clear why Virginia’s New River Valley feels like home.

Find out more about the quality of life and the abundant business opportunities in Virginia’s New River Valley here.

See rankings specific to the New River Valley here.

 

photo by Kelly
 

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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.

Floyd County Receives $1.3 million Broadband Grant

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Floyd County, VA– Cardinal News recently reported that Floyd County was awarded $1.3 million of a $59.5 million Virginia Telecommunications Initiative (VATI) Grant.

The VATI Grant will help fund 14 different projects designed to bring broadband service to underserved areas across the state. VATI’s goal is to help build a telecommunications infrastructure that will create attractive communities throughout Virginia.

Floyd County will use the funds, in partnership with Citizens Telephone Cooperative, to build a fiber-to-the-home broadband network that will include seven businesses and community institutions as well as 542 currently unserved locations.

Recipients of the VATI Grant were selected based on the project’s demonstrated infrastructure needs and benefit to the community.

Read more of the Cardinal News article here.

View the full list of recipients here.


Photo by John Schnobrich


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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

TechLab is Scaling up NRV Manufacturing

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New River Valley, VA – Valley Business FRONT recently did a cover story on TechLab, who has locations in both the City of Radford and Montgomery County. The story highlighted TechLab’s recent merger with Nordic company SSI Diagnostica.

TechLab’s specialty is in rapid single use tests that enable health care providers to identify issues more effectively. TechLab currently produces devices for intestinal diagnostics and, with the merger, will add manufacturing respiratory rapid devices to their Radford facilities. This will expand their product offerings and open new doors for a larger client base.

The merger highlights the thriving and growing presence of international companies in the New River Valley. COO of TechLab Rob Day said, “it reinforces the idea that you can perform high tech manufacturing in southwest Virginia.”

TechLab will become a part of an international group of businesses that help over eighty million patients. They anticipate adding up to fifty jobs in the NRV over the next three years ranging from research and development, quality control, administration, to manufacturing.

Read the full Valley Business FRONT article here.

The NRV is a natural fit for any business. From manufacturing to technology, the NRV has both a small-town atmosphere and an innovative, collaborative, and business-friendly culture. Find out how your company can become a part of the business landscape in the NRV here.

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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.

Radford Moves to Purchase Former Foundry Site

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Radford, VA – The City of Radford recently distributed a press release stating that they will move forward with purchasing the former Foundry site, currently owned by Michigan-based Virginia Castings, LLC..

According to the press release, “after undergoing extensive environmental testing and assessment over the past 6 months, the Radford City Council, with the support of the Economic Development Authority believe there is no better time than now to purchase the property.”

Mayor David Horton said, “This is an exciting day for the City of Radford as we make plans for the future of this great community. By investing in West Radford for future commercial development, we open the door for many possibilities for economic success and opportunities for our citizens. It is a big part of the continued renaissance and resurgence of Radford as we work across the city to maximize areas for prosperity and sustainability.”

The Radford Foundry was founded in 1880 as the Radford Iron and Coal Company and employed approximately 1,500 at its peak in the late 1970’s. The Foundry produced an array of ductile iron products from water / sewer pipes to auto parts until they closed their doors in 2013. The current site is 80 acres with approximately 30 acres or more of developable land.

“We are thrilled that the city has acquired the former VCI property. We believe this will play a pivotal role in Radford’s Economic future providing a place for industrial development and job creation of both small and large businesses.” said Abram Williams, Economic Development Authority Chair.

With assistance from the Commonwealth, the city will pursue grants for remediation, site access, clean-up and redevelopment.

“This is a monumental day in Radford as we move forward on the acquisition of the former Foundry property,” said Kim Repass, Economic Development Director. “The ability to bring new industry and commercial businesses in the future to this property will bring economic vitality, job creation and investment to the City of Radford. This will be a game changer for our citizens and community.”

Read the original press release here.

Explore the City of Radford in Virginia’s New River Valley here.


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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.

Pulaski County Announces $55 Million Broadband Expansion

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Pulaski County, VA – WSLS News recently reported that Pulaski County is partnering to invest $55 million to connect thousands of homes to high-speed internet. This broadband expansion is part of a larger plan for economic growth that will make the county a more attractive place to live and work.

Pulaski County, with aid from a state grant, is partnering with All Points Broadband and the Virginia Telecommunications Initiative (VATI) for the project. The plan is to connect roughly 8,000 homes using 420 miles of fiber cable.

According to Jonathan Sweet, Pulaski’s County Administrator, this marks the largest investment in utilities in the history of Pulaski County. Jonathan stated that the project is “a game-changer for the county, for the citizens, for the business community, for our 40 by 30 initiative. It’s going to help accelerate having 40,000 people call Pulaski County home by 2030.”

Watch WSLS’s coverage of the story here.

Discover more about Pulaski County in Virginia’s New River Valley here.


Photo by Pixabay


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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.