Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, February 26, 1993 TAG: 9302260215
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE: GEORGE KEGLEY STAFF WRITER
DATELINE: LENGTH: Medium
SHELL BUILDING GOING UP
A shell building of about 50,000 to 75,000 square feet is planned for Valley TechPark in western Roanoke County.The building, a lure for industrial prospects who want a ready-made plant, is expected to be built on part of the former Allied-Signal site in Roanoke County, James M. Young, president, told the Roanoke Valley Economic Development Partnership at its annual meeting Thursday. The partnership made the choice of the site after reviewing proposals from Roanoke and the county.
Allied-Signal gave up a 160-acre tract for a disc brake factory during the recession.
Last year was the busiest for the joint business-government partnership since it was formed in 1983, Young said. The organization had 35 prospects - visitors or expanding local companies - up from 17 in 1991. Of these, 34 percent were brought in by the state, Young said. All prospects accounted for 86 visits, up 72 percent.
The partnership has advertised the Roanoke Valley as a business location in the Wall Street Journal, Chief Executive magazine and Business Week. And 30,000 direct-mail solicitations were sent.
Inquiries for information declined one-third, falling to 642 from 999 in 1991. But that was more than the 510 in 1990.
The Roanoke Valley is losing jobs mainly because of national corporate mergers, acquisitions and a weak international economy - "factors beyond our control" - Young said. He asked the partnership "investors," its members, to "focus on what we can control . . . our efforts to attract and retain business."
The Roanoke Valley's challenges "make it imperative that the partnership and the local governments it works with become more aggressive, inventive and cooperative in trying to attract new business and industry," he added.
Although government funding has increased steadily, he said, private support for the partnership has fallen to 41 percent of its income. The partnership was formed as a 50-50 joint effort of governments and companies.
Bob Gibson of the state Economic Development Department said the partnership "can compete with any marketing group in the state."
It preaches "the gospel of cooperation and team effort" and relies on the help of many people, said Beth Doughty, executive director.
Jim Bacon, editor of Richmond-based Virginia Business magazine, described its planned Roanoke Valley insert.