Find out why it’s time to take a look at Roanoke.

Access to Markets The Roanoke Region is all about location, location, location.

Close to Major Markets Equidistant between New York and Atlanta, the Roanoke Region is centrally located to major cities in the eastern United States. Advance Auto, Elizabeth Arden, Orvis, and other companies that must get their products to market are located here because of fast and cost-efficient shipping to two-thirds of the U.S. population within a day’s truck drive.

Major Cities and Distance from the Roanoke Region City Distance in Miles Greensboro, NC 105 Raleigh, NC 156 Charlotte, NC 194 Norfolk, VA 245 Washington, DC 251 Knoxville, TN 255 Baltimore, MD 281 Philadelphia, PA 403 Atlanta, GA 430 New York, NY 476 Indianapolis, IN 531 Detroit, MI 588 St. Louis, MO 686 Chicago, IL 722

Reduces Shipping Time and Expense Location and logistics are strong advantages of the Roanoke Region. The area is served by a Port of Entry and Foreign Trade Zone to save time and money for companies importing materials. A large UPS hub is located here and the region is served by major air freight and package express companies. Evidence of the region’s reputation as a logistics hub is the approximately 70 trucking lines serving the area with local, state, and interstate service. Access to Markets Continued

Go Non-Stop Whether traveling domestically or internationally, the Roanoke-Blacksburg Regional Airport can get you there. Non-stop connection services are provided through the major airline hubs, making travel to and from the Roanoke Region convenient.

Roanoke-Blacksburg Regional Airport provides non-stop flight service to/from the following destinations: • Atlanta, GA • Charlotte, NC • Chicago, IL (O’Hare) • Orlando, FL • Philadephia, PA • St. Petersburg, FL • Washington, D.C. (Dulles) • New York, NY (LaGuardia)

Ride the Rails The Roanoke Region is served by Norfolk Southern and CSX for freight. The region is located on the Heartland and Crescent Corridors of Norfolk Southern. The Heartland is a direct, high-capacity route that spans from the Port of to distribution markets in the Midwest. The Crescent spans 11 states and is one of fastest, most direct routes from the Southeast to the Northeast with convenient connections to Mexico and Los Angeles. An I-81 intermodal facility is planned for the region. provides passenger service to Chicago via Clifton Forge and to points north via Lynchburg.

Passenger Rail Passenger rail service returns to Roanoke in 2017. Service will be an extension of Amtrak’s Northeast Regional from Lynchburg. The train will provide a same-seat trip to Washington DC, Baltimore, Philadelphia, and Boston.

Infrastructure Downtown is served by multiple providers of fiber telecommunications including Verizon, Cox Communications, Lumos, Broadband Authority, Level 3, and others. Costs

When making decisions about your business, costs are important. Whether its taxes, labor, construction, or anything else, it all affects business. The Roanoke Region boasts a low cost of living so your money goes further when you invest here. Low electric rates, competitive construction costs, and reasonable health care costs combine to make business affordable.

There’s a reason why Roanoke is ranked among the Top 15 places for low business costs and the Top 100 Places for Business and Careers by Forbes.com.

Cost of Living A low cost of living is important to individuals and businesses. It means lower bills and less money spent on an operating budget. Compared to other areas competing for your business, you cannot beat the Roanoke Region when it comes to affordability. Compare costs for yourself with this cost of living analyzer.

Cost of Living Index: Nationwide Region Index Boston, MA 148.1 Washington, D.C./Northern Virginia 143.1 Newark, NJ 122.0 Chicago, IL 118.5 National Average 100 Chattanooga, TN 95.7 Asheville, NC 95.6 Richmond, VA 94.3 Roanoke Region 89.1

Cost of Living Index: Virginia Market COLI Washington, D.C./Northern Virginia 143.1 Virginia Beach-Norfolk-Newport News 97.7 Charlottesville 104.1 Winchester 97.2 Richmond 94.3 Lynchburg 91.0 Roanoke 89.1 Costs Continued

Industrial Electric Rates The Roanoke Region is served by Appalachian Power, a unit of American Electric Power, and portions are served by Dominion power. The region maintains lower electric rates than comparable regions.

Monthly Bill at 75 kW 30,000 kWh/Month Region Company Bill National Average ---- $3,176 Columbia, SC South Carolina Electric & Gas $3,471 Birmingham, AL Alabama Power Company $3,522 Atlanta, GA Georgia Power Company $2,918 Detroit, MI Detroit Edison Company $2,880 Roanoke Region Appalachian Power $2,513

Construction Costs For any relocation or expansion decision, the cost of construction is an important factor. Construction costs in the Roanoke Region are not only competitive, but considerably lower than the national average according to the 2015 RS Means Building Construction Cost Book. The Construction Cost Index investigates over 700 communities and measures the costs of building materials, labor, climate, and local building codes.

RS Means Construction Index Region Value Index Newark, MJ 116.4 Los Angeles, CA 113.4 Pittsburgh, PA 102.3 Rochester, NY 101.9 National Average 100 Cleveland, OH 96.9 Charleston, WV 96.2 Baltimore, MD 94.0 Atlanta, GA 88.5 Richmond, VA 87.3 Birmingham, AL 86.1 Roanoke Region 85.0

Labor Costs At 4.4%, Virginia has the fifth lowest unionization rate in the country. Also, Virginia manufacturers have one of the lowest average workers’ compensation costs in the country. At $0.72 per $100 of payroll in January 2010, Virginia ranks third lowest nationally and is 39.5% percent lower than the U.S. average. Roanoke Region wages are lower than the Virginia and the national averages. Costs Continued

Mean Labor Wages by Occupation and Locality Occupation Roanoke Virginia U.S. Business and Financial Operations $30.28 $39.24 $35.48 Health Care Support $13.18 $14.00 $14.19 Protective Service $16.52 $21.41 $21.45 Food Prep, Serving $10.04 $11.00 $10.98 Personal Care Service $11.69 $12.47 $12.33 Sales and Related $17.22 $18.61 $18.90 Office, Admin, and Support $16.22 $17.58 $17.47 Construction and Extraction $17.68 $20.36 $22.88 Install, Maintenance and Repair $19.64 $22.65 $22.11 Production $16.13 $17.51 $17.41 Transport, Material Moving $15.97 $17.41 $16.90 Architecture and Engineering $34.40 $41.31 $39.89 Life, Physical and Social Sciences $30.77 $39.76 $34.24 Management $20.50 $61.79 $55.30

Labor Costs Comparison Roanoke vs National Average, Median Annual Wage (Sampling of Occupations) Occupation Roanoke United States Management 92,581 100,797 Business and Financial Operations 58,240 66,539 Human Resources Specialists 52,998 59,176 Accountants 62,920 68,141 Credit Analysts 55,598 69,930 Financial Analysts 62,275 81,765 Computer Programmers 93,101 79,851 Architecture and Engineering 65,354 77,896 Life Sciences 60,403 63,336 Attorneys 99,694 118,165 Paralegals 34,486 49,504 Higher Education in our Region

Business Education The greater Roanoke region is home to several institutions offering world-class business education opportunities. ’s Pamplin College of Business is ranked 23rd among public institutions. Pamplin offers programs in accounting, information systems, finance, insurance and business law, bachelor’s business administration, management, marketing, as well as an MBA and PhD in Business. There are 18 colleges and universities within an hour offering programs in business.

In sum, there are more than 4,000 business graduates annually in the greater Roanoke area including 1,000 master’s level business graduates, 2,600 bachelor’s level business graduates, and 600 associate’s level business graduates. Between the existing industry in Roanoke and the strong talent being produced in the region’s colleges and universities, this project will have no difficulties selecting candidates.

TECH SECTOR There are more than 4,000 information technology professionals working within an hour of Roanoke. Firms with significant IT presence include large corporations, local companies, and small startups. Examples include ABS Technology, Advance Auto, Anthem, Apex Systems, , Delta Dental, MacB, Rackspace, Synergy, Wells Fargo Higher Education Enrollments Education Attainment, Age 25+ High School Diploma/GED or higher 89% Some College, No Degree 22.6% Associate’s Degree 9.4% Bachelor’s Degree 16.5% Bachelor’s Degree 9.9%

Total Enrollment by School Undergraduate Graduate Professional Total All Schools 84,375 11.567 1,756 97,698 Public Four-Year Institutions School Undergrad Graduate Professional Total Virginia Tech 25,791 6,890 489 33,170 8,453 948 0 9,401 Virginia Military Institute 1,713 0 0 1,713 Total 35,957 7,838 489 44,284 Higher Education Continued

Private Institutions School Undergrad Graduate Professional Total Liberty University 12,100 2,375 25 14,500 American National University 3,607 33 0 3,640 Lynchburg College 2,079 641 0 2,720 2,001 0 0 2,027 Washington & Lee University 1,825 0 330 2,155 1,334 0 0 1,334 Edward Via College of Osteopathic Medicine 0 98 747 845 Jefferson College of Health Sciences 759 322 0 1,081 Southern Virginia University 808 0 0 808 Sweet Briar College 365 11 0 376 654 174 0 828 Randolph College 664 16 0 680 Virginia University of Lynchburg 538 59 0 597 Miller-Motte Technical College - Lynchburg 460 0 0 460 Skyline College 265 0 0 265 ITT Technical Institute 189 0 0 189 Virginia Tech Carilion School of Medicine 0 0 165 165 Miller-Motte Technical College - Roanoke 98 0 0 98 Total 27,746 3,729 1,267 65,421

Two-Year Community Colleges School Total Virginia Western 7,932 New River 4,477 Central Virginia 4,433 Patrick Henry 2,594 Dabney S. Lancaster 1,236 Total 20,672 Finance, Insurance, and Real Estate

As one of the region’s strongest clusters, there are more than 10,000 people employed and expected to grow 10.96% by 2022.

• Roanoke Region is the regional center for a population of more than 700,000 • Home to local and regional bank headquarters. • Customer service centers for banking and insurance. • Nearly 3,000 business-related graduates annually - 2,145 bachelor’s and 610 master’s degrees. • Good infrastructure for data centers, including available sites and buildings and low catastrophic risk. • Abundant utilities: fiber, water and electricity. • Electric rates below the national average; redundant service available. Higher Education Connection Colleges/universities in the region feature programs in accounting, business administration, and more.

Virginia Tech’s Pamplin College of Business is ranked in the Top 50 by US News & World Report. • Majors in Accounting and Information Systems; Business Information Technology; Economics; Finance; Management; and Marketing. • More than 3,800 undergraduate and 230 full-time graduate students. Radford University College of Business and Economics offers bachelor’s and master’s degrees, plus a Bachelor of Business Administration at the Roanoke Higher Education Center. • Majors in Accounting; Finance; Management; Management with an Entrepreneurship Concentration, and Economics. • With Virginia Tech is one of 38 business schools to receive funding from BB&T to create a capitalism program at graduate and undergraduate levels. Roanoke College offers degrees in Business Administration, Economics, Computer Information Systems.

Who’s Here - National, Regional, or Local Headquarters • Atlantic Credit and Finance -- Headquarters, receivables management • BB&T – Regional headquarters • BNC Bank - Virginia headquarters. • Bank of Botetourt -- Headquarters • Bank of Fincastle -- Headquarters • Brown Edwards -- Certified public accounting firm headquarters • Delta Dental of Virginia -- Virginia headquarters • First Citizens Bank -- Regional headquarters • Marsh & McClennan -- Headquarters of MidAtlantic practice • Hometown Bank-- Headquarters • KPMG -- Regional office of global CPA firm • Shenandoah Life Insurance -- Headquarters of mutual insurance company • SunTrust -- Regional headquarters • Wells Fargo Securities -- Regional headquarters for national financial services firm Major Customer Service Centers • Allstate • Anthem Blue Cross Blue Shield • MFX -- Data center serving insurance • One Beacon -- Regional customer service for national property-casualty insurance firm • Virginia Community College System - Shared services center for VA community college system. • Wells Fargo Life Sciences

As one of the region’s strongest clusters, more than 30,000 people are employed in nearly 300 firms and jobs are expected to grow 12.8% by 2022. This diverse sector includes clinical, research, biotech, and medical devices.

• Anchored by the Carilion Clinic, one of the largest health care companies in Virginia and the region’s largest employer (10,000 + employees and 67 physician specialties). • Virginia Tech Carilion School of Medicine and Research Institute - Medical school opened in 2010. Conducting research into inflammation, neuroscience, infectious disease, cardiovascular science and cancer biology. • Area colleges and universities graduate more than 600 students annually (including approximately 400 at Virginia Tech) at all levels in the life sciences. • Jefferson College of Health Sciences offers a Master of Science in Nursing, Physician Assistant and Occupational Therapy and 12 baccalaureate and associate degree health care programs.

Centers of Excellence • Fralin Life Science Institute, an interdisciplinary research center, brings scientists together to solve some of biology’s complex challenges. • Virginia Bioinformatics Institute develops genomic, proteomic and bioinformatic tools that can be applied to the study of infectious diseases as well as the discovery of new vaccine, drug, and diagnostic targets. • Virginia-Maryland Regional College of Veterinary Medicine, a partnership between Virginia Tech and the University of Maryland, provides advanced clinical care and conducts animal and biomedical research. • Virginia Tech-Wake Forest University School of Biomedical Engineering & Sciences is a fully joint venture which integrates the capabilities of the Virginia Tech College of Engineering, the Wake Forest University School of Medicine, and the Virginia-Maryland Regional College of Veterinary Medicine. • Edward Via Virginia College of Osteopathic Medicine is a post-baccalaureate professional medical college at Virginia Tech.

Who’s Here • Biotherapeutics – Preclinical stage company developing novel small-molecule drugs to treat inflammation associated with auto-immune disorders and type 2 diabetes • Blue Ridge Isotopes LLC – Nuclear pharmacy offering radiopharmaceutical products and services • Cardinal Mechatronics – R&D services for solving technical challenges existing at the intersection of mechanical, electronic, and software fields • Coeurative – Curative strategies for cardiovascular diseases related to cellular hypoxia • Aeroprobe – Contract R&D, materials science, and industrial engineering • American Biosystems – Direct-fed microbials used in waste treatment, feed and aquaculture products • Attention Point – R&D of assessment tools for the diagnosis of ADHD • eBroselow -- Web and mobile software tools for emergency medicine • Emtech Laboratories – Hearing care products • Excel Prosthetics – Custom-made prosthetics and orthotics • Foot Levelers – Custom orthotics, pillows and exercise equipment for spinal stabilization • High Performance Optics – Products that protect eyes from the effects of blue light.

Life Sciences Continued

• Intrexon – DNA control systems to enhance safety and outcomes of biological therapeutics • Integer – Medical devices • Lambda Instruments – R&D of optical fiber-based sensors • Leone Bioventures LLC – Natural biopesticide that defends fruits and vegetables from fungus • Luna Innovations – Biotech instrumentation, nanotechnology • McAirlaid’s – Non-woven composite materials for absorbency end uses • Microscope.com – One of the largest Internet retailers of microscopes in the world • MedCottage -- Mobile, temporary medical homes on a caregiver’s property for rehabilitation and extended care • Nanosonic – Designs and develops molecular self-assembly processes that allow for controlled synthesis of material structure at the nanometer level • Novozymes Biologicals – Enzymes for industrial cleaning, odor control, turf/plant health • OcuCure Therapeutics – Ophthalmic eye drops to treat age-related macular degeneration • Plastics One – Cochlear implants, other medical devices • Precision Fabrics – Surgical drapes • ProGenetics – R&D, production of biologically produced therapeutics • Revivicor –Regenerative medicine, R&D of treatments for diabetes and whole organ transplantation (xenotransplantation, stem cells) • Smart Perfusion – R&D of organ perfusion and transplant systems • Synthonics -- Specialty pharmaceutical company that develops drugs that are safer, more stable, and more effective • Surgical Tools – Distributor of high-quality German surgical tools • TechLab – Develops, manufactures, distributes intestinal diagnostic assays • Techulon -- Develops and manufactures life science transfection reagents • Virginia Prosthetics – Custom-made prosthetics and orthotics