Roanoke Business- April 2016

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business extra across Roanoke, Salem and parts of Roanoke and Botetourt counties. A big proponent of regionalism is Heywood Fralin, chairman of Medical Facilities of America. He criticized Roanoke and Botetourt counties for not participating fully with the authority. “It’s shortsighted not to build the infrastructure necessary to support businesses that need the broadband-width capability provided by fiber,” says Fralin. “We need the whole region on board. Our region extends from Roanoke to Radford and all the areas in-between.” The loss of Roanoke’s only Fortune 500 company would be a blow, says Fralin, but far from a fatal one. “No community would consider that to be welcome news. It doesn’t mean the community can’t recover and focus on creating more jobs in other areas, and that’s certainly what the community needs to be doing.”

Roanoke City Manager Chris Morrill advocates regional cooperation and economic diversity.

The concern isn’t just a loss of jobs, but the loss of quality jobs, Fralin adds. “I think we have to work extra hard to make sure that we provide opportunities for citizens to have meaningful, well-pay-

ing jobs.” Bowers agrees, which is why he’s enthusiastic about the Virginia Tech-Carilion Research Institute and investments being made there that will bring in 25 more research teams. “That’s huge,” Bowers says. “People don’t think about VTC as an economic driver, but it is huge when you look at the brain power it’s brought in, along with the national attention it brings from studies that are published.” And, he notes, the average wage for researchers and faculty members is not small. “That puts buying power back in the community. It will be a tremendous driver in the future.” Whatever happens with Advance Auto, Roanoke and the rest of the region need to prepare for change. “Change is going to occur all the time,” Dalhouse says. “I’m all for progress, but I hate change.”

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Coal depression

liers, As coal slumps, the supp feel the pain vendors and railroads

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APRIL 2016

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