JOBS, JOBS, JOBS                            
Companies expanding and people going back to work reached a frenzied pace in February with three major growth announcements from existing businesses in the Roanoke Region.

Dynax America will add 95 jobs and invest more than $11 million to serve new business. The Japanese-owned company will expand to the former Johnson Controls building adjacent to the current Dynax facility in EastPark Commerce Center in Botetourt County.  Moving receiving and inventory across the street will enable Dynax to repurpose more than 50,000 sq. ft. to manufacturing its wet friction materials for automobile transmissions.  Dynax has been producing discs, plates and assemblies in its Botetourt plant since 1997 for customers such as Ford, GM, Honda, Mazda, Nissan, and Toyota.

UnitedHealthcare, a UnitedHealth Group company, is expanding to create 125 new jobs at its facility on Thirlane Road in the City of Roanoke.  UnitedHealthcare's Roanoke employees support the customer care and sales functions of the insurer's Medicare & Retirement business, which serves one-in-five of the nation's Medicare beneficiaries.  UnitedHealthcare's growth strengthens the region's healthcare, insurance, and life science clusters which were the region's best performing job sectors during the past recession.

Norfolk Southern Railway Company is acquiring 1,500 new railcars from FreightCar America, Inc. The high-capacity coal cars will be manufactured at FreightCar America's facility in Roanoke beginning in May of 2011. The order will result in approximately 200 jobs. FreightCar America's Roanoke facility was downsized the past few years so this announcement is welcome news that will get the facility back to work.

Image Building Raises Fans, Followers, and Awareness                                      
The media was sharing news of great things happening in the Roanoke Region again in 2010.  The area, its businesses, and its attractions have been mentioned in media outlets as varied as USA Today, The Washington Post, Mashable.com, GearJunkie.com, Southern Living, Great American Outdoor Trails Radio Show, Outside Television, and Backpacker.   There were 16 media features in 2010 and the Roanoke Region made 13 Best Of lists in popular media. 

The Roanoke Regional Partnership's social media network has continued to grow now with four Facebook pages and four Twitter accounts -- Roanoke Region of Virginia, Roanoke Outside, Get2KnowNoke (dining, nightlife, and entertainment news), and the Blue Ridge Marathon.  Fans and followers are up across the board.  All of this activity drove more visitors to Roanoke.org and RoanokeOutside.org in 2010.

This exposure helps raise the visibility of the region to attract not only attention; but people, ideas, and investment.

 

Roanoke's Low Cost of Living Gets High Marks                
It's confirmed once again that the Roanoke Region of Virginia offers a comparably low cost of living -- second lowest metro in the Commonwealth and six percent lower than the national average.  The Roanoke Region's cost of living index value is 94 compared to the national average of 100, according to the Council for Community and Economic Research's 2010 annual Cost of Living Index Survey. 

The region's cost advantages appear to be strong across the board but are particularly strong in terms of food prices, housing costs, and transportation costs.

(Click images above for larger version)

  

Region's Unemployment Recovery Taking Root                
Unemployment reached its lowest level in 20 months, as more than 261 jobs were added in the Roanoke MSA in December 2010.  December 2010 marks the third consecutive month of positive employment gains.

(Click chart for larger version)

The unemployment rate in the Roanoke Metropolitan Statistical Area (MSA) in December 2010 was 6.8 percent, down from November 2010 (7.1 percent) and down from December 2009 (7.3 percent).  The rate for the extended labor market (approximately 60 mile radius from downtown Roanoke) is at 7.8 percent, down from November 2010 (8.0 percent) and down from December 2009 (8.2 percent).

Roanoke is ranked 61st in the nation in terms of having a low unemployment rate, putting it in the top 16 percent of all metros nationally.  The Roanoke MSA's unemployment rate continues to be lower than that of Lynchburg and Richmond, Virginia; Asheville, Piedmont Triad, and Charlotte, North Carolina, Chattanooga, Tennessee and  many other competing southern metros.                                                             

Solution Matrix Breaks Ground in Franklin County                
Solution Matrix, Inc., a leader in cold-therapy products for the healthcare industry, broke ground earlier this month on a new 25,000 square-foot facility to be built at the Franklin County Commerce Center.

In December, Solution Matrix announced plans to relocate its headquarters and manufacturing facility from Pennsylvania to Franklin County, bringing approximately 80 new jobs to the region in the next three years.  If all goes well, the company plans to be operational by November.  The total investment by the company in the building and equipment is approximately $2.25 million.   Solution Matrix joins McAirlaid's, Shredded Products, and Southern Heritage Homes at the Franklin County Commerce Center.