V.A. New River Valley: 1 of 50 Hotspots for Economic Growth

VA New River Valley

VA’s New River Valley takes center stage as it is named one of America’s top 50 Hotspots for Economic Growth.

Christiansburg Real Estate Market Watch

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V.A.’s New River Valley Ranking

Also known as the Blacksburg-Christiansburg Metropolitan Statistical Area (MSA), the NRV ranked 49th overall and 21st among mid-sized metros. It is the only location in the NRV that topped the charts.

The Selection Process

Area Development magazine selected 384 MSAs from 24 economic and workforce indicators, including those from the U.S. Bureau of Labor Statistics, the U.S. Census, and JobsEQ® by Chmura Economics & Analytics.

They comprehensively analyzed five-year, three-year, and one-year changes across these indicators. They also considered factors like economic strength, year-over-year growth, prime workforce, and three-year and five-year growth.

You can see the complete list of cities and towns here.

The overall ranking relies not only on one metric but on a full view of numerous contributing factors. It emphasizes the NRV’s strong performance across various indicators, reflecting its strength as a prime destination for residents and businesses.

Features That Make the NRV Stand Out

Booming Tech Sector

The NRV is an Information Technology hub, with tech companies ranked as some of America’s Fastest-Growing Companies. The state universities also have the best educational programs for I.T.

Advanced Manufacturing Capabilities

There are 164 manufacturing companies in the NRV in the chemicals, plastics and materials, automotive, and motion control industries. They use high-level robotics and state-of-the-art equipment.

Abundant Talent Pool

With over 300,000 alumns from Virginia Tech and Radford University, the state has plenty of high-caliber talent.

Favorable Cost of Living

The average cost of homes in the NRV is $165,000, 5.2% lower than the average in the U.S.

These features make V.A.’s New River Valley a desirable place to live actively and thrive in business opportunities.

Are you considering buying or selling a home in the New River Valley area? We’d love to help you! Please click here for our contact page, and we’ll contact you promptly.

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