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:
- Floyd County - Community Profile | Labor Profile
- Giles County - Community Profile | Labor Profile
- Montgomery County - Community Profile | Labor Profile
- Pulaski County - Community Profile | Labor Profile
- City of Radford - Community Profile | Labor Profile
DemographicsBack to Top
For more detailed information about the New River Valley's demographics by locality, download Excel file here.
STATISTICS
| Population | 165,146 |
Source: 2000 U.S. Census |
| Population Estimate for 2005 | 169,100 |
Source: Weldon Cooper Center for Public Service |
INCome and EXPENSES
| Median Adjusted Gross Household Income (2002) | $43,579 |
Source: Weldon Cooper Ctr for Public Service |
| Per Capita Income (2003) | $22,109 |
Source: Va. Economic Development Partnership |
| Cost of Living Index | 85.4 | Source: Cities Ranked and Rated |
| Average Home Price (June 2006) | $165,000 | Source: New River Valley Association of Realtors |
College students and/or College Graduates
| Virginia Tech | 6,400 grad students out of 26,000+ students |
| Radford University | 2,400 grad students out of 9,000+ students |
| New River Community College | 500 grad students out of 4,000+ students |
WORKFORCE
| Unemployment (%) for 2005 | 3.7% |
Source: Virginia Employment Commission |
| Number Employed | 81,523 |
Source: Virginia Employment Commission |
| Number Unemployed | 3,107 |
Source: Virginia Employment Commission |
| Number Underemployed | 8,358 |
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 residential, commercial and industrial bills, investor-owned utilities, January 1, 2006. Edison Electric Institute, Washington, DC. (For Appalachian Power served industrial locations in Virginia.)
| Kw Demand | 75 | 1,000 | 50,000 | |||
|---|---|---|---|---|---|---|
| Kwh Per Month | 30,000 | 400,000 | 25,000,000 | |||
| ¢ / Kwh | ¢ / Kwh | ¢ / Kwh | ||||
| Atlanta, GA | $2,186 | $29,596 | $1,430,904 | 7.3 | 7.4 | 5.7 |
| Birmingham, AL | 2,327 | 23,274 | 1,293,716 | 7.8 | 5.8 | 5.2 |
| Boston, MA | 5,061 | 90,355 | 5,467,487 | 16.9 | 22.6 | 21.9 |
| Cambridge, MA | 5,188 | 87,517 | 5,331,739 | 17.3 | 21.9 | 21.3 |
| Charlotte, NC | 1,551 | 20,241 | 1,032,143 | 5.2 | 5.1 | 4.1 |
| Chicago, IL | 2,178 | 27,533 | 1,182,769 | 7.3 | 6.9 | 4.7 |
| Cincinnati, OH | 2,553 | 33,736 | 1,697,300 | 8.5 | 8.4 | 6.8 |
| Columbia, SC | 2,362 | 25,062 | 1,348,700 | 7.9 | 6.3 | 5.4 |
| Covington, KY | 1,730 | 20,975 | 1,075,125 | 5.8 | 5.2 | 4.3 |
| Dayton, OH | 2,132 | 25,664 | 1,294,681 | 5.8 | 6.4 | 5.2 |
| Detroit, MI | 2,475 | 29,608 | 1,457,674 | 8.3 | 7.4 | 5.8 |
| Evansville, IN | 2,060 | 25,007 | 1,352,671 | 6.9 | 6.3 | 5.4 |
| Greenville, SC | 1,432 | 19,489 | 942,823 | 5.0 | 4.9 | 3.8 |
| Johnstown, PA | 2,125 | 25,705 | 1,343,322 | 7.1 | 6.4 | 5.4 |
| Louisville, KY | 1,432 | 17,829 | 934,495 | 4.8 | 4.5 | 3.7 |
| Martinsburg, WV | 1,657 | 19,807 | 974,771 | 5.5 | 5.0 | 3.9 |
| New York, NY | 6,131 | 81,650 | 5,622,932 | 20.4 | 20.4 | 22.5 |
| Newark, NJ | 2,661 | 42,688 | 2,489,181 | 8.9 | 10.7 | 10.0 |
| Parkersburg, WV | 1,657 | 19,807 | 974,771 | 5.5 | 5.0 | 3.9 |
| Philadelphia, PA | 2,125 | 25,705 | 1,343,322 | 7.1 | 6.4 | 5.4 |
| Pontiac, MI | 1,820 | 23,031 | 1,321,325 | 6.1 | 5.8 | 5.3 |
| Providence, RI | 4,085 | 53,019 | 3,067,898 | 13.6 | 13.3 | 12.3 |
| Raleigh, NC | 1,777 | 28,750 | 1,610,500 | 5.9 | 7.2 | 6.4 |
| Reading, PA | 2,225 | 27,168 | 1,439,025 | 7.4 | 6.8 | 5.8 |
| Richmond, VA | 1,842 | 21,834 | 1,187,012 | 6.1 | 5.5 | 4.7 |
| San Francisco, CA | 3,409 | 41,876 | 1,842,876 | 11.4 | 10.5 | 7.4 |
| Washington, DC | 3,094 | 36,704 | 2,219,483 | 10.3 | 9.2 | 8.9 |
| Wilmington, DE | 1,969 | 24,973 | 1,310,235 | 6.6 | 6.2 | 5.2 |
| Winchester, VA | 1,522 | 18,664 | 950,608 | 5.1 | 4.7 | 3.8 |
| US Average | 2,587 | 33,191 | 1,813,766 | 8.6 | 8.3 | 7.3 |
| New River Valley, VA | $1,415 | $17,076 | $851,270 | 4.7 | 4.3 | 3.4 |
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:
| 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, HCA Montgomery Regional Hospital and HCA Pulaski Community Hospital 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
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.