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Roanoke ranks well in federal economic development study

By David Kaplan, dkaplan@wdbj7.com
Published On: Sep 27 2013 04:57:26 PM EDT
Updated On: Sep 27 2013 10:15:39 PM EDT

Roanoke economy grows

ROANOKE, Va. -

Roanoke is opening back up for business according to the federal government.

The US Bureau of Economic Analysis, an arm of the Commerce Department, just released its 2012 figures and Roanoke ranked second in the commonwealth for Economic Growth.

Experts attribute the growth to an influx of manufacturing jobs as well as a bounceback in the housing market.

Those experts aren't quick to call the recession completely over, but considering Roanoke also beat some its competitors, it's a good sign.

"It also was ahead of Asheville, ahead of the Raleigh/Durham area, ahead of Knoxville and the kinds of areas that we compete with economically, we compete with for jobs, we compete with for population growth," said Beth Doughty with the Roanoke Regional Partnership.

Richmond was the only other city in Virginia that saw more economic growth than Roanoke.