This is part 2 in our series on economic development in the New River Valley. For part 1, go here.

In the crest of the Blue Ridge Mountains is Floyd County. With beautiful landscapes, artists and photographers alike use the settings as inspiration for their pieces. The population of the county is made up of a mix of people who have been in the area for generations dating back to the land movement along with others drawn to the laid-back artisan lifestyle of the area.

Floyd County wants to see good, community-friendly business development to provide local job investment. With a high-quality education system, advanced telecommunications, a strong work force, and low-tax environment Floyd offers a lot of perks as a place to start a business.

By 2000, the stresses of global competition greatly affected the local and regional economy with dramatic losses of manufacturing jobs. Because of that and the limited agricultural jobs, many citizens of Floyd County have become dependent upon commuting to a job.

“Our economic development efforts center upon growing and welcoming entrepreneurs who are a ‘natural fit’ in Floyd, thus diversifying our local economy strategically so that 60 percent of the labor force does not have to commute out to work everyday,” said Lydeana Martin, Community and Economic Development Director of Floyd County. “Important clusters for Floyd include green-materials and builders, high-end metal or woodworking, data storage, geo-tourism, sustainable agriculture and forestry, and ‘creators’ of many types from ceramics to value-added foods to music to Web sites to electronic circuitry design.”

In the last decade, Floyd County has lost several large employers such as Pannill Knitting Co., Skyline Sportswear, CrossCreek Apparel, and Donkenny. And the County definitely wants to see those jobs replaced with new business development.

Local assets for those interested in starting a business include strong entrepreneurial spirit and networking opportunities, a robust telecommunications infrastructure, and an affordable, diverse labor force, which includes many people with highly developed craft skills, including welders, woodworkers, and high-end fabric artisans. Floyd also offers a culturally rich community with live music, music and arts classes, and locally grown food and beverages.

Various outreach efforts are in place by the Town and County of Floyd. Some of those include Town of Floyd Entrepreneurial Loan Pool, potential for land or grant assistance depending on business investment and jobs created, the County’s Economic Development Authority has lots from 2 to 50 acres available, all with water, sewer, fiber optics, and 40-MB of redundant electricity available, freshly renovated and vibrant downtown; a new park and more pathways in the works, business-friendly setting with low taxes, one traffic-light, temperate climate, regular entrepreneurial and business development workshops to connect entrepreneurs to government & non-profit resources, private experts, and each other. , “Nurtured by Nature” slogan intends to highlight our intentional love of and connection to our land and natural resources.

“For the Entrepreneurial Loan Pool, it is a program designed to spur economic development through the use of low interest loans, facade restorations and spot grants, said Floyd Town Manager Mike Maslaney. “Economic Development for Floyd has many different facets and components. One component, the loan pool, is aimed at job creation and retention. The restoration effort, another component, is directed towards improving our tourism industry and making Floyd more attractive to both local and outside visitors. Lastly, the current and planned improvements within the Town are part of a program to increase the emphasis on promoting a sustainable local economy. This multifaceted approach will hopefully help develop and expand our local economy and improve the quality of life within Floyd County.”
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Located in the tranquil countryside and offering desirable settings for continued economic development, Pulaski County offers ample natural resources, an efficient highway, rail, and air transportation network, and a dependable labor force. Covering 318 square miles with a 4,500-acre lake, gently rolling foothills, open space, farmlands, and mountains the county offers prime locations for prospective industries.

The county also has Interstate 81 passing through and is less than 20 miles from Interstate 77. Seven industrial parks, three Virginia Enterprise Zones, the New River Valley International Airport & Foreign Trade Zone/Customs along with other amenities make Pulaski a solid potential spot for business development.

The Pulaski County Chamber of Commerce is working with the Town of Dublin, Town of Pulaski, and Pulaski County on a strategic tourism plan to promote their assets. “This plan would allow us to develop a uniform marketing strategy that, when implemented, could positively impact the entire NRV area,” said Peggy White, Executive Director of the Pulaski County Chamber of Commerce.

At the beginning of the year, the Chamber of Commerce established three focus groups, tourism, small business, and economic and community development. Each group set, prioritized, and established goals for the year’s program of work. “We are pleased and proud to be able to report that we are well on our way to achieving success in all the initiatives we set out to accomplish,” White said.

The Town of Pulaski’s Economic Development Department markets and develops the town doing research, writing grants, and many more tasks to assist businesses. Most importantly, the department supports development with focus on development and marketing in the Pulaski Business Park—recruiting commercial, industrial, and residential development, encouraging entrepreneurial and small business development, helping in the retention and expansion of existing businesses, improving the overall business climate of the Town, and retaining and attracting residents to the Town.

The county offers one of 30 statewide Enterprise Zones, which is intended to stimulate business and growth of the neighborhood. Growth comes in the Enterprise Zone by means of state income tax credits, employment grants, and local incentives. Some of these incentives include: business loan program, utility improvement support, rezoning fee waiver, rehabilitated real estate tax abatement, building permit fee waiver, and many more. The State Enterprise Zone Incentives allows the Town of Pulaski the advantage of being a most favorable business environment in Virginia. State incentives include 10-year general income tax credit, real property improvement tax credit, and job grants for jobs created.

There are many entities in the area working on economic development. The Chamber assists them whenever possible based on each entity’s specific needs, offering meeting places, area information, and contact persons, etc.

While not heavily populated counties, Pulaski and Floyd make up two key counties in the New River Valley and both are eager to increase business development.

Anna Keffer is an intern for the New River Voice.