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The Partnership’s program has the support of the local community and business leaders who have stepped forward to lead our effort. The next five years will be critical for the future of the Roanoke region. We Nancy Howell Agee Carilion Clinic

can seize the opportunities ahead to promote our region and grow our economy.

Message from the Co-chairs

– Nancy Howell Agee

Coming out of the Great Recession, now is the time to redouble economic development efforts for the entire region. Economic development is a process, not a project. It takes patience, it takes John B. Williamson, III RGC Resources

perseverance, it takes funding, and most importantly it takes proactive and thoughtful leadership.




– John B. Williamson, III

Honorary Campaign Leaders Dan Carson

Warner Dalhouse

Bob Lawson

Bittle Porterfield Rice Management

Mike Warner

Pinnacle Investor Co-chairs:

Peak Investor Co-chairs:

Larry Dickenson The Branch Group

Russ Barksdale Friendship Retirement Community

Dr. Raymond Smoot Virginia Tech Foundation

Abney S. Boxley Boxley Materials Company

G. Michael Pace, Jr. Gentry Locke Rakes & Moore

Ken Randolph Rockydale Quarries Corporation

Summit Investor Co-chairs:

Mountaintop Investor Co-chairs:

Trailhead Investor Co-chairs:

Ellis Gutshall Valley Bank

Dr. Victor Iannello Synchrony, Inc.

Larry Davidson Davidsons Men’s Clothing

Rick James Adams Construction Company

Susan Still HomeTown Bank

Ann Lee Stevens Coldwell Banker Townside, REALTORS

Jay Turner J.M. Turner & Company




Since 1983, the Roanoke Regional Partnership has brought together the Greater Roanoke business community and governments in a regional economic development program that combines resources and strengthens the region’s competitive position in attracting jobs and investment. The Partnership has assisted in nearly $1.4 billion in locations and expansions and more than 14,000 direct jobs. Business leaders and government officials are equally represented on the Partnership’s executive committee and Board of Directors which drive the agenda, goals, and strategies. A successful campaign in 2007 raised more than $6,000,000, funded almost equally from the private and public sectors, for a program of work that added image building, asset development, and benchmarking to traditional business recruitment.

Working Together. For a Change. A new campaign will fund the next five-year plan that will continue attracting people, money, ideas, and jobs. Five-year goals include creating primary jobs, targeting jobs paying above-average wage, and stimulating hundreds of millions in new capital investment — all while continuing progress toward population and per capita income growth. In June 2011, Convergent Nonprofit Solutions conducted a feasibility study of a draft economic development program. The plan was tested through interviews with area business and community leaders; financial support was gauged, and leadership identified to lead The Next Step capital campaign. The five-year plan you’ll find in this report was finalized from the feedback that was received.




21st-Century Economic Development: Relevance and Results Outcomes of the 2007–2011 Partners Investing for Prosperity Program Job Creation

Despite a challenging and weak global economy, the Partnership continued to help attract, add, and create jobs. • After the downturn of 2008–09, business recruitment activity increased more than 130 percent in 2010 and 129 percent in 2011 as a result of aggressive marketing. • The third year of a “gatekeeper” strategy showed activity from consultants increased 45 percent in 2010 and 50 percent in 2011. • A new software platform linked existing business efforts across jurisdictions to

generate more contact with business partners and to identify common issues affecting their success.

• A new web portal — — provides links to services for entrepreneurs and small businesses and helps to brand the region as welcoming to entrepreneurs. • Total Partnership-Assisted New Investment (2007–11): $88 million • Total Partnership-Assisted Direct New Jobs (2007–11): 1,508 • Total Economic Impact (2007–11): $642,710,597* *IMPLAN Professional

Business Locations & Expansions 2007–11: Aerotek, Altec, Arkay Packaging,, Blue Tree Systems, Canatal, Cole & Russell Architects, Dynax, Empire Foods, FCTech, Foot Levelers, FreightCar America, Laura Lee Designs, Maple Leaf, Maxx Performance, Solution Matrix, Synchrony, Tread Corporation, Trinity Packaging, UnitedHealth Group, Virginia Forge, Vitamin Store, Wachovia Wells Fargo, Westport.




Asset Development

Image Building

Worked to develop the region’s outdoor assets, strengthen quality of place, and attract and retain talent to grow the economy. • catalogs outdoor amenities and is complemented by a weekly Get Outside newsletter and the Outdoor Recreation Guide for the hospitality industry.

• Blue Ridge Marathon, in only two years, has attracted runners from around the world and created an economic impact of approximately $700,000. • Other outdoor brand-building events have attracted thousands: Gear Junkie Treasure Hunt, Banff Radical Reels, Roanoke Outdoor Circus, and How to Start an Outdoor Business. • Interactive Roanoke Outside kiosk sits at key locations in the region.

While recent national data indicate the popularity of outdoor recreation is increasing, the Roanoke region is ahead of the curve at the state and national levels. • The Outdoor Industry Association recognized the Roanoke Regional Partnership’s outdoor asset strategy. • State park visitation up 11 percent compared to statewide decrease. • Employment grew 2.6 percent in the industry group that includes outfitters, guides, and other sporting and recreational employers compared to 1.7 percent at the state level and zero growth at the national level.

Raised the visibility of the Roanoke region with an image that emphasizes the outdoors and economic opportunity. •

Millions of readers learned more about the Roanoke region in US Airways Magazine, USA Today, Southern Living, Washington Post and other publications, or saw it on TODAY, Outside Television, and various media.

• The Roanoke region made 23 “best of” lists in only two years.

• and recognized the Roanoke Regional Partnership as a “best of” example in social media for economic development. • The Web has been the centerpiece of the image- building strategy with four new sites attracting more than 200,000 unique visitors annually.




Metrics Key indicators in the original plan were identified as population and income growth.

Population Growth

Young Professional Retention and Attraction

The data illustrate the progress the region has made in increasing its population growth rate.

Population growth in the coveted 24- to 34-year old demographic has improved dramatically and reflects the success of efforts to attract and retain young adults.

Annualized Growth Rates

Young Adult Population (Ages 25–34) in the Roanoke MSA, Change by Year

2.0% 1.5%


1.0% 0.5%



2001 2002 2003 2004 2005 2006 2007 2008 2009 2010





0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8%

-1.5% -2.0%

Sources: Weldon Cooper Center, U.S. Census Bureau


Income Growth Inflation-adjusted income rose slightly in the period prior to the beginning of the Great Recession. Median incomes for the Roanoke Metropolitan Statistical Area lag behind those of the Commonwealth but the region’s lower cost of living somewhat mitigates the difference.




I. Job Creation

Total Goal Private sector Goal

$6 million $3 million

The Next Step 2012–2017

The Roanoke Regional Partnership will continue to aggressively market the region and develop new initiatives to help create jobs paying above-average salaries and strengthen the tax base.

Target Industry Recruitment

Target jobs by sector, including food, transportation equipment, mechatronics, and life sciences

Focus on outreach to consultants to establish ongoing relationships

Utilize aggressive call programs to identify growing companies

Outdoor Sector Development

Attract businesses that see brand value in quality of place

Attract businesses that are associated with the outdoors and strengthen the sector

Grow businesses such as outfitters, entertainment, and hospitality that enable delivery of the outdoor brand promise

Retail Recruitment Support

Represent the Roanoke region at retail trade events

Create market data to retail prospects to demonstrate market opportunity

Media Recruitment

Entrepreneur Development

Link entrepreneurs to resources available in the Roanoke region

Bring attention to the entrepreneurial advantages of the region

Help create an environment in the region that is entrepreneur friendly

Existing Business Support

Attract media production that can utilize outdoor assets

• Work with and encourage local governments to identify issues that affect the success of existing business




Proposed Annual Budget:


II. Asset Development & Talent Attraction

IV. Research & Metrics

Strengthen quality of place to attract and retain talent and grow the economy. The Partnership will continue the outdoor branding initiative that has put Roanoke on the map at the state and national levels.

Outdoor Brand Building

The Partnership will continue to monitor and track progress of important economic data such as population and income growth. Despite a challenging economy, key indicators show promising results for the program of 21st-Century Economic Development.

Grow events such as the Blue Ridge Marathon, GoFest, and Banff Radical Reels Festival

Serve as a data resource for investors and the region

Research and report on issues affecting regional prosperity

Create at least two new events to strengthen the outdoor brand

Report annually on key economic indicators

Support and increase the number of entrepreneurs in this sector

Identify new and innovative ways to build the outdoor brand

Proposed Annual Budget:

Proposed Annual Budget:


V. Investor Engagement

III. Image Building

It’s important to tell the stories about what makes the region stand out from the competition. Research shows that citizen engagement through community involvement is directly related to economic prosperity.

Retain talent through community engagement by rolling out the Get2KnowNoke initiative

Expand publicity efforts to generate greater exposure for the region

Proposed Annual Budget:



The Partnership will keep our investors informed and engaged.

To keep you fully informed about the return on your investment in the Partnership, we pledge to:

Create an oversight committee of our top supporters

Send you the monthly e-newsletter, Investor Insider

Invite you to tri-annual investor updates to learn, question, and suggest

Provide you an engaging annual report on performance compared to plan

Invite you to announcements and other special events

Call on you for one-on-one feedback

Report progress on key economic indicators

Proposed Annual Budget:





Pushing Future Prosperity 2017 Goals • • • • • • • • • •



Continue progress increasing population to 1.2 percent ACGR Increase per capita income 15 percent Increase inquiry activity by 5 percent each year Help create 3,245 new primary jobs Help add 3,451 secondary jobs Increase the number of jobs paying 10 percent above Roanoke region 2010 average wage Help bring in $200 million in new investment Generate $214,127,760 in annual total earnings Spin off $118,361,905 in annual area consumer expenditures Represent $18,502,492 in annual deposits for area banks


Return on Investment The Roanoke Regional Partnership used an independent study to help determine the economic impact of its economic development efforts on area businesses after boosting employment by 3,245 direct jobs averaging $39,278 over the next five years. The jobs goal is just one of the components of the Partnership’s strategic plan and would result in another 3,451 indirect (secondary) jobs for a total of 6,696 jobs over the next five years. Based on the earnings level of the targeted jobs, the projected consumer expenditures are expected to be more than $118 million per year after taxes. The table below shows a summary of the program’s estimated economic impact based on Roanoke region multipliers.

Economic Impact of Jobs


Direct Impact

Indirect Impact

Total Impact




Annual Total Direct Payroll


Annual Personal Income


Annual Disposable Personal Income


Annual Net Personal Consumption Expenditures


Annual Deposit Potential for Financial Institutions





Consumer Expenditures The earnings display the impact of the projected total payroll of $214,127,760 – generated by 3,245 primary jobs created throughout the Roanoke region plus the additional 3,451 jobs created as a ripple effect of the direct jobs (indirect jobs). A portion of total earnings will be used for personal consumer expenditures, projected at $118,361,905 (after taxes) per year. That portion is addressed below as an expenditure detail in which personal consumption costs are dispersed following consumption patterns consistent for the Roanoke MSA. The expenditure detail determines the estimated annual impact to regional companies due to the job creation results of the Partnership’s five-year initiative.

How $118,361,905 projected new personal consumer expenditures would be spent per year: $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000

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Tr an sp or ta

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Continuing Competitiveness The work and results of the past five years demonstrate that the investment in a program of 21st century economic development is paying off for the region. Long-term success will depend on the Partnership’s current 220+ partners elevating their financial support. We also will continue to work expanding private sector support. The immediate goal is an annual budget of $1,200,000 or a total campaign/budget commitment of $6,000,000 over five years. This includes funding of approximately $3,000,000 from seven local governments. This level will permit the Partnership to not only operate effectively but will enable it to continue developing innovative programs that address 21st-century economic needs. The Roanoke Regional Partnership is a 501(c)(6) not-for-profit organization. As such, pledges may be deducted as a business expense if they are “ordinary and necessary� in the conduct of your business. Please consult your financial adviser for clarification.




In the age of broadband connections and overnight delivery, second- and third-tier U.S. cities are learning one of the best ways to lure employers is to offer a high quality of life, which often means providing a broad array of close-to-home outdoor recreational offerings.… –




Engagement, Oversight, Accountability The staff and Board of Directors will implement the five-year initiative, with input from the Partners for Prosperity oversight committee. This committee, composed mostly of major investors ($50,000 and up over five years), will oversee program implementation and maintain program accountability. Two positions on this committee will be appointed to represent investors below the $50,000 threshold. Throughout the five years of the program, all investors will continue to be informed through newsletters, reports, and special events. Investors are also encouraged to call with questions and suggestions during the implementation of the program. Although the foundation built in the past five years is firm, it can crumble without the continued progress that will only be possible by achieving the $3,000,000 goal. Your support is critical.

2012 Board of Directors Nancy H. Agee Stephen A. Bennett Dr. Nathaniel L. Bishop Kevin Boggess David A. Bowers Abney S. Boxley Dr. Jennifer L. Braaten Steven Clinton David R. Cundiff Richard Flora Byron R. Foley B. Clayton Goodman, III

Nancy Oliver Gray Bradley E. Grose Kathleen Guzi Teresa A. Hammond Richard E. Huff, II Debbie Kavitz Christopher S. Lawrence Laurence Levy Angie Chewning Lewis Michael C. Maxey David Moorman Christopher P. Morrill

Daniel C. Naff, Jr. G. Michael Pace, Jr. Dr. Robert H. Sandel Dr. Charles W. Steger John R. Strutner Dr. Richard R. Teaff James M. Turner, Jr. Joyce Waugh Neil Wilkin John B. Williamson, III

2012 Officers President: Vice President: Secretary: Treasurer:

John B. Williamson, III G. Michael Pace, Jr. Christopher S. Lawrence Kevin Boggess




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Follow us on Twitter: @Roanoke_region @Roanoke_Outside @Roanokepreneurs @BRM26pt2 @Get2KnowNoke

111 Franklin Plaza | Suite 333 Roanoke, Virginia 24011 540 343-1550

PARTNERS in Prosperity, The Next Step  

Since 1983, The Roanoke Regional Partnership has brought together the Greater Roanoke business community and governments in a regional econo...