Strategic Advantages

The City of Roanoke is the ideal place to live, work, play and do business!

As the cultural and economic center of Southwest Virginia and largest city in the Commonwealth west of Richmond, Roanoke is home to 100,000 residents. With its beautiful Blue Ridge Mountains, attractive neighborhoods, low cost of living, outstanding amenities and a diverse, world-class business friendly environment, the city has gained exposure across the globe.

Here you will find some of the key advantages to doing business in the City of Roanoke.

Accolades

Due to Roanoke’s leverage in civic engagement, collaboration, inclusiveness and innovation which successfully addresses local issues, the city was chosen as an eighth-time All-America City in 2024, and also carries the title of the first “Hall-of-Fame” City. These designations were awarded by the prestigious National League of Cities “NLC”.
Best Place to Raise an Outdoor Family – Blue Ridge Outdoors Magazine (2024)
10 Best Mountain Towns in Virginia – Travel & Leisure (2024)
Top Adventure Town – Blue Ridge Outdoors Magazine (2023)
25 Best Hiking Cities in the U.S. – CNN (2023)
Employment and labor force surge past pre-pandemic levels, reaching highest level in over nine years – Op-Ed – Cardinal News (2023)
A Look Inside Fire Station One, a Roanoke Hotel with Three-Alarm Charm – Garden and Gun (2023)
Fun Fall Weekend Getaway Destination – TODAY with Hoda & Jenna (2023)
Highest Score of 100 Points Achieved in the 2023 Municipal Equity Index – an assessment that evaluates cities on their inclusivity towards LGBTQ+ individuals – Human Rights Campaign (HRC) (2023)
Growing the talent pool, Roanoke Region aims to retain students, attract workers – Virginia Business (2023)
12 Best Cities in the U.S. for Mountain Bikers – Two Wheeled Wanderer (2023)
Best Mountain Towns in the United States – Outside Magazine (2022)

Workforce

The Roanoke Region continues to be a leading location when it comes to quality of workforce.
For the fourth year in a row, Roanoke has been recognized by Area Development Magazine in its Leading Locations for 2015 feature for having a strong workforce. Roanoke was ranked 135th out of all 373 metro areas, placing Roanoke in the top 36 percent.
Drawing people from a 60-mile radius, the Roanoke labor supply consists of more than 300,000 people, one-third of whom have bachelor’s degrees.
Twenty-five colleges and universities within a 60-mile radius.
In-migration into the region is at a 10-year high and remote work is increasing according to data from the Roanoke Regional Partnership – signs that talent attraction and placemaking strategies are having positive impacts on the Roanoke economy. IRS data from 2021 shows 1,233 people—another 10-year high—moving to the Roanoke labor supply area (a 60-minute radius). Over 330 moved from the Washington D.C. metro area to the Roanoke Region in 2020 and over 160 moved from the New York-Metro New Jersey area as examples.
Virginia is a right-to-work state, with the fifth-lowest unionization rate in the nation.

Affordability

Cost of living in Roanoke is well below the national average.
Per capita income of $55,243 (BEA 2022).
Median home selling price in the City of Roanoke is $284,000 compared to the US average price of $442,450 (2024 Realtor.com).
Moody’s Cost of Doing Business Index ranks the Roanoke market at 18 percent below the national average when it comes to operating a company here. The index takes labor, energy, tax costs, and rent into consideration.
Construction costs in the Roanoke Region are not only competitive, but considerably lower than the national average (2021 RS Means Building Construction Cost Book).

Convenient Location

With its desirable East Coast location, the City of Roanoke is equidistant to NYC and Atlanta and centrally located to 14 major US cities. In fact, two-thirds of the U.S. population are within a day’s drive away, making trucking fast and cost-effective to get products to market.
Roanoke-Blacksburg Regional Airport is served by 4 major airline carriers with non-stop service to 8 major cities.
The City of Roanoke is served by Norfolk Southern and CSX for freight. Amtrak provides passenger service twice daily to the Northeast (Washington D.C., Philadelphia, New York, and Boston and others) from the station in downtown Roanoke.
Evidence of Roanoke’s reputation as a logistics hub is the approximately 70 trucking lines serving the area with local, state, and interstate service.
UPS and FedEx both operate airfreight hubs in the City of Roanoke with additional service offered by major freight and package express companies.

Quality of Life

Council for Community and Economic Research for the 2nd quarter of 2016 rank the Roanoke metro area as 50th lowest cost metro in the nation with costs lower than 80 percent of participating metros. With an index of 88.2, costs in Roanoke are 11.8 percent lower than the national average of 100.
Roanoke offers many of the cultural amenities typically associated with larger cities, including a vibrant arts scene including a symphony and opera, several higher education institutions, and a vibrant entrepreneurial community boasting a nice balance of small and large businesses. Roanoke is also proud of its attractive and eclectic neighborhoods, welcoming environment, outdoor amenities and its emphasis on livability and quality of life.
The City of Roanoke maintains 68 parks, more than 30 miles of greenways in partnership with Roanoke County, a skate park, outdoor and indoor recreation centers, and the second largest municipal park in the nation.
With two high schools, 5 middle schools and 17 elementary schools, Roanoke City Public Schools provides an inclusive and equitable, student-centered culture that empowers lifelong learning. Through meaningful, relevant, and engaging learning opportunities, we will empower all students to dream, excel, and meet their full potential to benefit our city and its citizens.