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Partnership Recruits R&D and Manufacturing Facility
Maxx Performance will open a research & development and manufacturing facility in the City of Roanoke, creating 12-15 jobs over the next three years and investing up to $700,000 in equipment. The company will be located in the former Valley Rich Dairy building on Aerial Way Drive.
Maxx Performance is the leading provider of microencapsulation/encapsulation technologies used by manufacturers of baked products, confectionary goods, dairy or meat products, nutritional supplements, and animal feed. The company's products mask taste and off-odors, extend shelf life, and enhance flavor and texture to help manufacturers overcome application and processing challenges, optimize product delivery, and improve time to market.
"Our new Virginia-based facility will house a state-of-the-art application test center where customers can evaluate our ingredients in their products and develop formulations that can be scaled up," said Dr. Winston Samuels, president and CEO. "It will also allow us to work with the brightest minds at Virginia Tech to innovate more of the practical applications our customers need to succeed."
Microencapsulation is at the leading edge in food formulation technology. For example, bitter tastes such as caffeine, green tea extract or certain vitamins and minerals can provide healthful benefits but affect how foods taste. Microencapsulation, containing these ingredients and their tastes in microscopic capsules, enables the tastes to be managed within a completed product and, for example, reduce the need for artificial sweeteners.
"As the economy emerges from the recession, we are seeing more interest in the Roanoke region as a business location," said Beth Doughty, executive director of the Roanoke Regional Partnership.
"We are delighted that Maxx Performance will be using state-of-the-art technology and producing a cutting-edge product here in the City of Roanoke," said City Manager Christopher Morrill.
Headquartered in Chester, N.Y., the company is a privately held firm established in 2004.
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Metro Improves Economic Performance
The Roanoke metro area moved up 21 spaces to 105th in the Milken Institute's 2010 Best Performing Cities Index which shows relative improvement in economic performance over competing metros. The Roanoke area was strongest in terms of single year growth in high-tech output, ranking 56th out of the largest 200 metros in the country. Also impressive was the Roanoke area's measure of growth in high tech output over the last five years, ranking 75th on the list. Roanoke outperformed many similarly-sized southern competitor metros in this year's index including Asheville, NC, Chattanooga, TN, and the Piedmont Triad in North Carolina.
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Business Recruitment Strong
September was the busiest month for business recruitment activity in recent years. Active recruiting travel schedules compounded the crunch. Overall activity is 137 percent above 2009 levels due to an improving economy and more aggressive efforts in the outdoor sector particularly through participation in the Summer Outdoor Retailers Show and the Outdoor Industry Association. Activity from the Virginia Economic Development Partnership is double historic trends.
There are currently 19 active prospect files - most in advanced manufacturing. Inquires have centered on the search for existing buildings and we anticipate that preference will continue. However, as activity continues to increase, existing buildings will become more difficult to find and more searches will open to sites. However, "just a site" won't make the cut anymore. A competitive site today must be ready to go; and that means graded property.
ACTIVITY REPORT
January 1-October 15, 2010
2009 numbers in parentheses
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INQUIRIES
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PROJECTS
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PROSPECTS
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SERVICE
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Overall
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177 (61)
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38 (26)
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22 (13)
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124 (55)
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VEDP
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3 (1)
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21 (8)
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4 (2)
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Adventure Tourism Workshop a Success
More than 65 people attended the October 19 Roanoke Regional Adventure Tourism workshop where they had the opportunity to hear "lessons learned" from existing outdoor business owners .
"Outdoor recreation contributes approximately $730 billion dollars annually to the US economy and in Virginia it's $18.8 billion and over 200,000 jobs" says Pete Eshelman, director of outdoor branding for the Roanoke Regional Partnership. The workshop was designed to answer questions and share resources with anyone interested in starting an outdoor business. Topics included state, regional, and local tourism initiatives as well as discussions on marketing, financing, resources, permitting, and insurance.
With assets that include the Appalachian Trail, Blue Ridge Parkway, more than 600 miles of trails, and hundreds of miles of waterways it is clear that opportunity is knocking in the Roanoke Region. More than half of the attendees indicated they were thinking about starting or expanding an outdoor-related business. Many of whom said they hope to do so in the next two years - so keep your eyes open for new and exciting opportunities.
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