February 2023 BizNews

Perhaps, the Most Ambitious Redevelopment Project in Roanoke's History

The former American Viscose plant is purchased by developer, Ed Walker, as a "dream-come-true" redevelopment project. Walker is co-investing with the City of Roanoke and the Roanoke Economic Development Authority to transform this old, industrial site into a mixed-use district comprised of residential housing, commercial space, and a recreational area. Roanoke City Council approved a $10 million performance agreement for buying and cleaning up the property in exchange for a $50 million investment on the site within 17 years. The total estimated economic impact could total more than $326 million by 2040.

Roanoke-Based Company, HUB Corporation, is Participating in the VALET Program

The Virginia Economic Development Partnership announced the acceptance of 12 companies into its two-year Virginia Leaders in Export Trade (VALET) program. The VALET program is a two-year international business acceleration program that assists companies in the Commonwealth that are committed to international exporting as a growth strategy. Program benefits include executive training, international sales plan development, educational events and customized research.

City of Roanoke Awarded Funds for the Virginia Business Ready Sites Program

Governor Glenn Youngkin announced the distribution of $90 million in grants to develop industrial sites across the Commonwealth. The City of Roanoke was awarded $85,000 for the Virginia Business Ready Sites Program. The funds will be used to upgrade Tract 8, located in the Roanoke Centre for Industry and Technology (RCIT), from a Tier 3 to a Tier 4 site.

City of Roanoke to Host "Roanoke Valley Saves Week" as Part of 'America Saves Week 2023'

The City of Roanoke is hosting "Roanoke Valley Saves Week," an extension of "America Saves Week 2023," from Feb 27 - March 3 to encourage financial confidence and stability. During the weeklong campaign, Bank On Roanoke Valley is offering area residents support and resources through educational tools, free programming, and financial incentives. Roanoke City residents can register online at www.uwrv.org/bank-on-roanoke-valley

The Roanoke CoLab is Home to Ideagen, a Software Company based out of Nottingham, England

Ideagen, a software company specializing in governance, risk, and compliance, employs over 1,500 individuals across 15+ companies. Of those 1,500 employees, 4 of them have set up shop at the CoLab. While they have remote capability at home, the Roanoke CoLab located in Grandin Village was a perfect solution for their desire to interact with peers throughout the work day.