NRV Company TORC Is Disrupting the Auto Industry

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If you haven’t heard, automated and driverless technology is thriving in Virginia’s New River Valley.

That’s right, NRV Company TORC and their revolutionary technology are disrupting the auto industry. Founded in 2005, TORC continues to create and refine self-driving technology for varying environments, from city street bustle to off-road adventure.

TORC actively works with mining and defense parters to minimize risk, meaning companies like Caterpillar are able to eliminate liability in dangerous work environments thanks to TORC’s innovation.

TORC Company Overview Video

This inventive company, founded by Virginia Tech students, hit the cover of Virginia Business this month with their groundbreaking technology.

“As the automotive industry moves us tantalizingly closer to a sci-fi future of roadways thrumming with such self-driving cars, Virginia has positioned itself as a hotbed for developing and testing autonomous vehicle technologies,” said Richard Foster, Virginia Business writer. “This is in large part due to innovative research work coming out of state universities such as Virginia Tech and the University of Virginia, as well as companies like Torc.”

Resources in the NRV like Virginia Tech and VTTI, and companies like TORC, are making unmanned systems research and production possible.

It looks like this disruptive technology is our future.

“If you think about it,” said TORC CEO Michael Fleming, “automobiles have been designed around the driver for the last 100 years. And one of the things that really excites me is, over the next 100 years, we’re going to design cars around passengers, because the driver is going to be a computer…”

Click here to read the full Virginia Business cover story.

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Governor Northam Nominates Opportunity Zones, Six Located in NRV

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NEW RIVER VALLEY, VA – Governor Northam announced the nomination of Virginia Opportunity Zones yesterday to the U.S. Department of Treasury. The Governor nominated a total of 212 sites (the maximum number allowed). There are 6 nominated Opportunity Zones in the NRV.

Opportunity Zones in the NRV

Click for full, interactive map. (via esri)

“Opportunity zones are an important federal tool to spur vitality in economic growth in communities across Virginia and we are committed to using them fully in this administration,” said Governor Northam. “By focusing on local and regional strategies, as well as Virginia’s diverse geography and economic opportunities, we selected a balance of zones that align with other state and local economic development and revitalization efforts. This ensures that Virginia is at the forefront of attracting new Opportunity fund investments.”

The Virginia Department of Housing and Community Development assisted in coordinating nomination process alongside the Virginia Economic Development Partnership.

For more information regarding the opportunity zones, visit the Governor’s website.

Click here for a full, interactive map of Virginia’s nominated zones. (via esri)

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Roanoke Times: Floyd County Embraces Artisan Flair in New Push to Boost Local Economy

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FLOYD COUNTY VA (excerpt from Roanoke Times) – Floyd County’s tourism and economic development officials have been working for over a year on an initiative designed to boost that local craftsmanship economy, with a focus on agriculture, food and forestry related ventures.

They’re calling the campaign “Floyd Grown.”

“It has been the backbone to our economy. Our arts, our music, our handcrafts, our woodcrafts have all been integral to Floyd County as well as agriculture,” Floyd County Board of Supervisors member Linda DeVito Kuchenbuch said. “All of this will be accentuated in a way that hasn’t ever been done before.”

Lydeana Martin, the county’s community and economic development director, said around 17 percent of the county’s workforce is self-employed. Around 90 percent work for companies with fewer than 20 employees.

She said this isn’t the place employers go to build massive factories with 50 tractor trailers rolling through each day. But it is where companies go if they’re looking for a couple of dozen highly skilled welders for more specialized, artistic work.

She said “Floyd Grown” is…

Read more from Jacob Demmit at The Roanoke Times.

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Volvo, Advanced Manufacturing, Virginia's New River Valley

New Brochures Showcase NRV Industries

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New River Valley, VA – Onward NRV has officially published new brochures that showcase the region’s competitive advantages in: Advanced Manufacturing, Information Technology, Food Processing & Agribusiness, and Unmanned Systems.

Through a comprehensive study with the Virginia Tech Office of Economic Development, Onward NRV identified four key clusters to support and grow in the region. A targeted approach ensures that resources are focused on clusters with the greatest local competitive advantage and return on investment for the region. These clusters, and their corresponding niches, funnel new money into the region, offer higher wages and equitable career pathways, and have strong growth forecasts.

Each of the brochures is an overview of the industry and is packed with information that’s helpful for people looking to live, work, and do business in Virginia’s New River Valley. The brochures incorporate the River Stone branding and feature notable accolades, higher education assets, quotes from regional leaders, business advantages, and photos from the NRV.

“These brochures are the culmination of our regional branding and targeted industry initiatives,” said Executive Director Charlie Jewell. “Not only do they look fantastic, but they also embody the spirit of the people and the companies in our region. They’re full of substantial information and will help us raise the visibility of the New River Valley as a hub for these industries.”

See the NRV targeted industry brochures on the Targeted Industry page, or the drop down menu in the regional website header.

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

VIP Media Day title, CRC, Virginia's New River Valley

VT Corporate Research Center to Conduct VIP Media Day

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VTCRC Media Day

NEW RIVER VALLEY, VA – The Virginia Tech Corporate Research Center (VTCRC), located in Blacksburg, VA and adjacent to Virginia Tech, is hosting the first-ever VIP Media Day on Sept. 18, 2018.

The purpose of the VIP media junket is to provide a way for local, regional, and national media outlets to learn more about the VTCRC, local companies, Blacksburg, Montgomery County, and the rest of Virginia’s New River Valley. Many of the companies in the VTCRC have a global footprint and a lot to offer the region.

“It is our goal that invited media will be paired with companies whose research and development interests them the most. Media will leave with exclusive content and expert contacts for future editorials, videos, blogs, etc.” said Dr. Joe Meredith, VTCRC President & CEO.

Event Summary

  • Press kits and personalized schedules
  • Complimentary Lunch
  • Presentations
  • Helicopter flyovers
  • Media mingle
  • Swag bags

    • VIP Media Day will help with recruiting efforts for the VTCRC and participating companies and organization, which will help make a positive impact regionally.

    VTCRC Media Day, CRC Media Day Blacksburg, CRC Media Day, Media Day NRV

    Part of the programming will allow the VIP guests and media to participate in a complimentary flyover of the research park and the Virginia Tech campus.

    For questions, or to submit credentials and obtain a press pass, contact Melissa Vidmar at melissa.vidmar@vtcrc.com.

    Additional details can be found at www.vtcrc.com/events/2018vipmediaday.

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    Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

    Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

    Governor McAuliffe at Koinonia Announcement at Pete Dye River Course in Pulaski County, VA 2017

    Pulaski County Economic Development Performance on Top in 2017

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    ~Pulaski County economic development performance is on top in 2017.~

    FROM PULASKI COUNTY, VA – According to the Virginia Economic Development Partnership’s Virginia Announcements of Employment Creation and Capital Investment – ‘2017 End of Year Report,’ Pulaski County finished 2nd in Job Creation, 4th in New Capital Investment and 2nd in the Number of Projects Announced per capita for the Calendar Year 2017 out of all 95 counties within the Commonwealth of Virginia. According to the report, Pulaski County was the only county that finished 4th or better in all three categories, respectively placing the County in the top spot overall in economic development performance.

    “The Board of Supervisors is extremely thankful for our success in 2017 and the true benefit of our accomplishments is the more than 600 new jobs that will become available to our citizens,” stated Andy McCready, Chair of the Pulaski County Board of Supervisors.

    “We have one of the most dedicated and creative economic development teams working hard to advance our existing industries and to recruit new foreign and domestic investments to the County.”

    According to the U.S. Bureau of Labor Statistics, Pulaski County’s unemployment rate dipped below 4.0% in December of 2017 for the first time since April 2006 (3.5%). The unemployment rate improved from 9.3% in January of 2017, down to 3.9% in December of 2017.

    “We are starting to see the positive effects of new jobs being created in the County, and a 140-month low unemployment rate at the end of 2017 was further affirmation that our economic development efforts are beginning to pay dividends,” stated Jonathan D. Sweet. “I am so thankful to the Board of Supervisors, Michael Solomon, our EDA and the entire County Administration Team, but I am most grateful to our business community for their trust and confidence to invest in Pulaski County and our world-class workforce.”

    The ranking outcomes were the result of Pulaski County’s five (5) qualified projects in CY-2017, two of which were officially announced in concert with the Governor’s office. These five (5) basic industry sector projects will collectively create more than 600 new jobs and $57 million in new capital investment. The projects referenced consisted of Phoenix Packaging Operations, LLC, MicroXact, Koinonia Ltd., MTM Inc., and Volvo Trucks North America.

    “We knew Pulaski County had a banner year, but until you compare our numbers to the rest of the counties in Virginia, it’s hard to appreciate just how strongly we performed,” stated Jon Wyatt, Chair of the Pulaski County Economic Development Authority. “Kudos to our Economic Development Team for their ability to structure and close so many deals and subsequently manage and service all of these projects.”

    Pulaski County, located in Virginia’s New River Valley, is home to eight (8) international companies that represents more than 4,000 advanced manufacturing jobs. The County is considered to be Southwest Virginia’s Center for International Business and the New River Valley’s Advanced Manufacturing Hub.

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    Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

    Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

    Chartio to Expand to Blacksburg

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    BLACKSBURG, VA – Chartio, a cloud-based data company out of San Francisco, is expanding to Downtown Blacksburg. Chartio’s new offices will be located in The Brownstone Building. Chartio will hire five new engineers this year, and plans to increase by 10-15 more in the next three.

    The tech company creates charts and interactive dashboards for businesses. Some of their clients include Squarespace, GAP, Prezi, and Blackboard.

    This is a great addition for the New River Valley’s growing base of companies in the Information Technology industry.

    Read more from WDBJ7. Check out Chartio’s Career page to apply for open positions in Blacksburg.

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    Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

    Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

    VT College of Engineering #9 Among Public Institutions

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    BLACKSBURG, VA — Virginia Tech’s College of Engineering ranks 9th among public institutions, according U.S. News & World Report’s 2018 Best College Rankings.

    The college of engineering is also 14th among all national universities. Read more about programs offered and engineering news at https://eng.vt.edu/

    Overall, Virginia Tech is ranked the 25th best public university and 69th for all national universities.

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    Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

    Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

    Montgomery County’s Prime Photonics, LC to Participate in Virginia’s VALET Program

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    ~Two-year export program provides resources to support international business expansion~

    RICHMOND, VA – The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Montgomery County company, Prime Photonics, LC, into its two-year Virginia Leaders in Export Trade (VALET) program. The VALET program assists exporters in the Commonwealth that have firmly established domestic operations and are committed to international exporting as a growth strategy. To participate, each business must meet both quantitative and qualitative selection criteria. Participating firms are chosen based on their dedication to growing export sales. To date, 304 Virginia companies have been accepted to participate in the VALET program.

    “VALET has provided a vehicle for participating companies to reach global markets and grow their business on a global scale since 2002,” said VEDP President and CEO Stephen Moret. “The benefit of international trade to Virginia’s economy cannot be overstated, and I am confident that with a continued commitment to exporting, these businesses will see a strong return on investment in the coming years.”

    Currently, the VALET program has 50 companies as participants. The program provides participating companies with export planning services and assistance from a team of experienced international service providers to help meet their international goals. These private sector service providers contribute essential expertise to assist companies in executing export plans and include attorneys, web designers, bankers, translators, accountants, and freight forwarders.

    “The VALET program puts participating companies on the fast track to international business growth by connecting them with the necessary tools for successful international sales,” said Paul Grossman, VEDP Vice President of International Trade. “Since its inception in 2002, the program has worked with more than 300 businesses to accelerate their international sales growth. We are happy to welcome Prime Photonics to VALET and look forward to working with them over the course of the next two years.”

    The Commonwealth of Virginia exports more than $34 billion in goods and services annually. Exports of Virginia’s products and services to the world are vital to the growth of the Commonwealth, supporting more than 232,000 jobs and generating $2 billion in tax revenue. VEDP offers numerous programs to assist Virginia companies with selling in the global marketplace and has a network of international market research consultants covering more than 70 countries around the globe.

    Prime Photonics, LC

    Prime Photonics develops impactful sensor and materials technologies and products for test & measurement, inspection, control, and health monitoring of commercial and military equipment, structures and turbomachinery. For more information, please visit http://www.primephotonics.com

    Virginia Economic Development Partnership

    The Virginia Economic Development Partnership was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade.

    For more information on the VALET Program, visit http://exportvirginia.org/services/programs-grants/

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    Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

    Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

    Virginia Ranked the #7 Most Innovative State

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    NEW RIVER VALLEY, VA — The Commonwealth of Virginia was ranked the no. 7 most innovative state by Forbes. Advanced technology has greatly developed in Virginia and is expected to continue flourishing. In the original article, Forbes notes:

    “[Virginia] is noteworthy for having the highest share of technology companies in the country. It ranked second for projected STEM job demand by 2020.”

    Rackspace Web Hosting, Located in the VT Corporate Research Center in Blacksburg, VA, boasts an open, laid-back work environment for their IT professionals.

    Virginia’s New River Valley names Information Technology as one of the targeted industries for the region. Optimal office space, cutting-edge resources, and access to talent make the NRV an excellent fit for technology-related businesses. The lower cost of living and sophisticated culture in our collection of down-to-earth small towns make the region a great fit for people interested in working in IT.

    Cover photo features the interior space at Qualtrax, a compliance software company located in Downtown Blacksburg.

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    Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

    Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.