The newest data confirms once again that the Roanoke Region of Virginia offers a comparably low cost of living -- second lowest metro in the Commonwealth and 7.4 percent lower than the national average.  The Roanoke Region's cost of living index value is 92.6 compared to the national average of 100, according to the Council for Community and Economic Research's Cost of Living Index for the second quarter 2011. The Roanoke Region's costs are lower than nearly 65 percent of metros across the country.

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

Use the Roanoke Region's cost of living calculator at http://www.roanoke.org/businesscostofliving/ to see how far your dollar will go in the Roanoke Region.   

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TREAD Corp., a manufacturer of bulk handling equipment for the explosives industry, will invest $5 million to expand its operations in Botetourt County, creating 100 new jobs.

The company evaluated a number of locations to expand its manufacturing lines to meet increasing U.S. and international market demand before narrowing its search to the existing facility in EastPark Commerce Center and a potential site in South Carolina.

Speaking at the announcement, Governor Bob McDonnell said, "Botetourt County has been home to TREAD Corporation's corporate, sales and support, and manufacturing operations since 2004. The company has experienced tremendous growth operating equipment all over the world from Botetourt, and appreciates the ample workforce found in the region. We are thrilled that TREAD will continue to expand."

TREAD plans to begin its expansion by the third quarter of 2011 and create at least 100 jobs within 36 months. The average wage for the new jobs will be $17.50 per hour plus benefits. The project's investment will be a minimum of $5 million, of which approximately $4.75 million will be in building and infrastructure with the balance in machinery and tools within 36 months. Square footage of the expansion, including manufacturing space, staging area and parking, has yet to be determined.

The new jobs are primarily production oriented with skills focused on but not limited to welding and mechatronics.

"Our location in Botetourt County strategically positions the company to service the global explosives equipment market. TREAD is fortunate to have a skilled work force, which when coupled with economic opportunities, provides the resources to grow the business and serve our customers' needs," said Phil Bortz, vice president, worldwide sales.

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Census figures show people are choosing the Roanoke Region, helping to increase population; data also reveals that 87.5 percent of population growth is due to migration.

Data from the U.S. Census Bureau and the University of Virginia's Weldon Cooper Center for Public Service suggest that the majority of population growth experienced in the region is due to migration from other regions of the state and the nation.  Weldon Cooper Center estimates show that 87.5 percent of population growth in the Roanoke Region is due to migration, compared to just 47 percent statewide.

"This is telling us that people are recognizing that the Roanoke Region is an outstanding place to work, with a high quality of life and low cost of living," said Beth Doughty, executive director of the Roanoke Regional Partnership. "These days, with high unemployment in other areas of the country, traffic jams around big cities and unattainable home ownership in many markets, families and businesses are seeking more attractive options like the Roanoke Region. "And in this 21^st century economy, many families and entrepreneurs are also looking for amenities we already enjoy - easy access to the outdoors, a variety of outdoor-related activities and a climate that lets them enjoy nature year-round."

Though the region's rate of annualized growth averaged a mere 0.3 percent between 2000 and 2003, its growth rate more than doubled by the end of the decade. Annualized growth rates for the region averaged 0.8 percent between 2007 and 2010, according to Weldon Cooper Center data.

Compared with the rest of Virginia, the Roanoke Region's growth rate was a full percentage point below the state between 2000-2003 but now trails the Commonwealth's rate by only four-tenths of a percentage point in the last three years, signaling improvement.

According to Internal Revenue Service data, the Roanoke Region has attracted roughly 2,800 households each year from out of state. Nearly 55 percent of these households come from the South, 18.5 percent of these households from the Northeast, 15.7 percent from the Midwest, and 10.9 percent from the West Coast. IRS figures also reveal a healthy amount of migration from surrounding counties in Virginia as well as from traffic-choked Hampton Roads and Northern Virginia.

"With growth at the Virginia Tech Carilion School of Medicine and Research Institute under way, it's possible that future migration statistics will show an increased level of migration to the region," Doughty added.

Catch the steepest and deepest in high-adrenaline outdoor sport films when the 2011 Radical Reels Tour returns to Roanoke on Sept. 14 for a FREE presentation.

Hurtle down steep untouched powder, feel the cold spray of stomach-dropping kayak first descents, fly high with the world's wildest BASE jumpers, and experience much more in extreme mountain sports.

Growing out of the Banff Mountain Film Festival World Tour, Radical Reels screens the best in action sports filmmaking, audience-tested and programmed for maximum excitement.

This year's tour returns to Roanoke for the third year, with a screening at the Jefferson Center beginning at 6:45 p.m. And this year it's free with a canned donation to benefit Feeding America Southwest Virginia.

The Outdoor Expo, featuring outdoor-related businesses, will be held that evening from 5-6:45 p.m., also at the Jefferson Center. 

Don't miss this opportunity to visit the Outdoor Expo and see Radical Reels, space is limited, so reserve your spot today at

The Roanoke Regional Partnership's calendar is full of business development events to sell the Roanoke Region to target sectors.