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Area Info

About the New River Valley

Virginia's New River Valley is made up of the counties of Floyd, Giles, Montgomery, Pulaski and the City of Radford. It is located in southwestern Virginia in the midst of the Blue Ridge and Appalachian Mountains. The 1,458 square mile region is bordered on the northwest by West Virginia and along the southeast by the Blue Ridge Mountains. With Interstate 81 passing through the region and Interstate 77 and 64 nearby to the south and north respectively, the area is strategically accessible to both the East Coast and Mid-West markets.

The New River Valley is home to Virginia Tech, Virginia's largest university and one of the nation's leading research centers along with Radford University and New River Community College.

For more information, download the New River Valley Community Profile PDF.

 

Download the following PDF's for more information on individual communities:

 

DemographicsBack to Top

For more detailed information about the New River Valley's demographics by locality, download Excel file here.

STATISTICS

Population 178,237
Source: 2010 U.S. Census
Population Estimate for 2011 178,539
Source: Weldon Cooper Ctr for Public Service

INCome and EXPENSES

Median Adjusted Gross Household Income (2007) $56,568
Source: Weldon Cooper Ctr for Public Service
Per Capita Income (2009) $28,238
Source: Va. Economic Development Partnership
Cost of Living Index 94.4 Source: Council for Community & Econ. Research
Average Home Price (June 2006) $165,000 Source: New River Valley Association of Realtors

College students and/or College Graduates

Virginia Tech 6,000 grad students out of 30,000+ students
Radford University 2,400 grad students out of 9,000+ students
New River Community College 500 grad students out of 5,000+ students

WORKFORCE

Unemployment (%) for 2010 8.5%
Source: Virginia Employment Commission
Number Employed 87,593
Source: Virginia Employment Commission
Number Unemployed 7,154
Source: Virginia Employment Commission
Number Underemployed 10,401
Source: Va. Economic Development Partnership

 

Largest Employers

  • Alliant Techsystems (ATK)
  • Celanese
  • Federal Mogul Corp.
  • Hollingsworth & Vose Company
  • Kollmorgen Corporation (Danaher)
  • Moog (Litton-Poly Scientific)
  • New River Community College
  • Pulaski Furniture Corporation
  • Radford University
  • Virginia Tech
  • Volvo/Mack

 

Utilities & ServicesBack to Top

Electric Rates

Electrical service is by Appalachian Power/AEP and City of Radford. Rates generally range from 3.4 cents per kwh to 4.7 cents per kwh.

Industrial Electric Billing Comparisons
Source: Typical industrial bills, investor-owned utilities, July 1, 2010. Edison Electric Institute, Washington, DC.

Kw Demand       75 1,000 50,000
Kwh Per Month       30,000 400,000 25,000,000
        ¢ / Kwh ¢ / Kwh ¢ / Kwh
Atlanta, GA $2,918 $36,823 $1,930,108 9.7 9.2 7.7
Birmingham, AL 3,120 27,823 1,573,212 10.4 7.0 6.3
Charlotte, NC 1,944 25,097 1,486,570 6.5 6.3 5.9
Cleveland, OH 3,566 36,814 2,061,586 11.9 9.2 8.2
Columbia, SC 2,950 31,992 1,751,250 9.8 8.0 7.0
Evansville, IN 3,024 30,927 1,826,288 10.1 7.7 7.3
Greenville, SC 1,823 23,894 1,107,092 6.1 6.0 4.4
Johnstown, PA 2,157 25,148 1,454,924 7.2 6.3 5.8
Louisville, KY 1,965 24,854 1,238,362 6.6 6.2 5.0
New York, NY 6,467 85,320 5,331,732 21.6 21.3 21.3
Parkersburg, WV 2,243 29,176 1,551,998 7.5 7.3 6.2
Philadelphia, PA 3,404 41,807 2,229,994 11.3 10.5 8.9
Raleigh, NC 2,386 33,406 1,899,532 8.0 8.4 7.6
Richmond, VA 2,271 26,043 1,442,695 7.6 6.5 5.8
San Diego, CA 4,640 60,602 2,698,160 15.5 15.2 10.8
Tampa, FL 2,933 38,387 2,254,161 9.8 9.6 9.0
Washington, DC 6,210 55,885 3,423,373 20.7 14.0 13.7
Wilmington, DE 3,033 41,992 1,984,812 10.1 10.5 7.9
Winchester, VA 1,522 18,664 950,608 5.1 4.7 3.8
             
US Average $3,081 $36,787 2,015,777 10.3 9.2 8.1
             
New River Valley, VA $2,076 27,122 1,250,920 6.9 6.8 5.0

 

Water & Sewer Rates

Water rates vary by individual locality within the New River Valley (general range is from $3.25 to $8.07 per 1,000 gallons). Sewer rates vary by individual locality within the New River Valley (general range is from $1.96 to $4.50 per 1,000 gallons). Please call our office for specific pricing for individual localities.

Natural Gas & Propane Rates

Rates vary daily. The region is served by Atmos Energy and Valley Propane. Please feel free to call us for a daily rate quote.

 

Location & LogisticsBack to Top

Distance from the New River Valley to major cities:

New River Valley Map
City Distance
Atlanta, GA 395 miles
Baltimore, MD 311 miles
Boston, MA 715 miles
Charleston, SC 363 miles
Charleston, WV 162 miles
Charlotte, NC 156 miles
Chicago, IL 700 miles
Cleveland, OH 391 miles
Columbus, OH 373 miles
Dallas, TX 1060 miles
Detroit, MI 576 miles
Houston, TX 1138 miles
Indianapolis, IN 519 miles
Jacksonville, FL 537 miles
Knoxville, TN 218 miles
Louisville, KY 408 miles
Memphis, TN 607 miles
Milwaukee, WI 824 miles
Nashville, TN 397 miles
New York, NY 492 miles
Norfolk, VA 314 miles
Philadelphia, PA 409 miles
Richmond, VA 219 miles
Roanoke, VA 46 miles
San Antonio, TX 1338 miles
Toronto, Canada 657 miles
Washington, DC 272 miles
Winston-Salem, NC 108 miles

 

Taxes

  • State Corporate Income Tax: 6.00%
  • State Personal Income Tax: Virginia's Personal Income Tax ranges from 2.0% to 5.75% depending on the qualified tax bracket of an individual including various exemptions.
  • Sales and Use Tax: 5.00%
  • Real Estate Tax: Real Estate Tax rates vary by locality within the New River Valley (general range is from .52 cents per $100 to .73 cents per $100).
  • Business Personal Property Tax: Business Personal Property Tax rates vary by locality within the New River Valley (general range is from $1.85 per $100 to $2.45 per $100).
  • Machinery & Tools Tax: Machinery & Tools Tax rates vary by locality within the New River Valley (general range is from .74 cents per $100 to $1.50 per $100).

Download Virginia Document on Local Taxes on Businesses (PDF)

Incentives

The communities that make up the New River Valley have a great track record of offering aggressive but fair incentives to interested companies/industries looking to expand or relocate to the region. The Guide to IIncentives in Virginia is a good summary of some of the incentives we offer.

 

Quality of LIfeBack to Top

The New River Valley is served by four major hospitals, located throughout the region, that provide beds to over 500 patients. The Carilion New River Valley Medical Center, LewisGale Hospital - Montgomery and LewisGale Hospital - Pulaski offer a full array of services including diagnostic cardiology, obstetrics, orthopedics, and emergency services. In addition, nine private and public clinics affiliated with local hospitals are available.

Approximately 292 physicians and 100 dentists practice in the area. Several hundred more physicians and dentists practice in the adjoining Roanoke Valley region.

There are more than 100 nursing homes and adult care facilities with over 900 beds located in the New River Valley providing acute and skilled long-term care for the elderly.

There are 11 public library facilities containing well over 750,000 volumes. In addition to these facilities, libraries at Radford University, Virginia Tech, and New River Community College house over one million volumes available to the public.

Serving primarily Protestant and Catholic faiths, there are 400 places of worship in New River Valley. Jewish Synagogues and Greek Orthodox churches are available in the Roanoke Valley Region and Blacksburg.

With over 18 shopping centers and four malls, the New River Valley offers diverse shopping choices for residents. As a Virginia Main Street Community, the Radford downtown area is undergoing substantial revitalization activities and offers a variety of unique clothing, furniture and antique shops. Well over 200 retail outlets are dispersed throughout Giles County. Montgomery County is the regional shopping center for the region, hosting the 456,000 square foot New River Valley Mall and the 300,000 square foot Market Place.

More information on area attractions can be found here.

 

TechnologyBack to Top

A variety of telecommunication providers serve the New River Valley providing the region with:

  • Affordable Broadband
  • Fiber Optic throughout region
  • Fiber Connectivity to all switch centers
  • Sonet Rings abound

They include but are not limited to:

  • Adelphia
  • Citizens Telephone Cooperative
  • Charter Communications
  • nTelos
  • Verizon

The New River Valley is also served by a very active technology council (NCTC) that serves both the Roanoke and New River Valleys.  Please visit www.thetechnologycouncil.com for more information.

 

Industrial DirectoryBack to Top

Virginia's New River Valley Industrial Directory provides a comprehensive list of the major businesses and industries located in the New River Valley. This list is updated on a yearly basis so that prospective new businesses/industries can hear first hand from our existing employers about the quality business climate in the New River Valley including affordable utilities, moderate taxation, excellent location, and an outstanding workforce.

Download an Industrial Directory of the New River Valley (PDF).

 

Resource CenterBack to Top

Download the New River Valley Economic Development Resource Center (PDF), a directory which includes contact information for chambers of commerce, local government economic development organizations, regional economic development groups, state agencies and much more.

More about the Resource Center.