New River Valley, VA – Virginia’s New River Valley (Blacksburg-Christiansburg-Radford MSA ) was Virginia’s second fastest growing economy in 2023 ( 3.7%), second only to Charlottesville (4.2%) according to the Old Dominion University’s State of the Commonwealth Report. This report highlights areas such as GDP growth, taxable sales, labor force, job growth, and income growth.
Onward NRV, the regional economic development organization for Virginia’s New River Valley, attributes the growth to the region’s ability to collaborate stating that “in a time when major cities typically dominate state-wide economic growth, the NRV’s performance serves as a testament that through collaboration and strategic investments, rural communities thrive and compete on both a statewide and national scale.”
Virginia’s New River Valley’s success contributes to Virginia’s broader achievements of being named CNBC’s Best State for Business and Business Facilities’ State of the Year. With its position as the second fastest-growing economy in the state, the NRV is paving the way for a prosperous future while reinforcing Virginia’s reputation as a national leader in business and economic development.
The region exemplifies how strategic focus, and collaboration has made this region a natural fit for growth and innovation. Discover more about Virginia’s New River Valley here.
Read Onward NRV’s full press release about the report’s results here.
Explore Old Dominion University’s State of the Commonwealth Report here.
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.
