
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, January 9, 1994                   TAG: 9401040330
SECTION: BUSINESS                    PAGE: F1   EDITION: METRO 
SOURCE: Lon Wagner Staff Writer
DATELINE:                                 LENGTH: Medium

BIG PROJECTS, MORE JOBS EXPECTED

In economic development terms, it would be called product development: adding features to the community that make it more attractive to industry.

Economic development experts think projects in the works for the Roanoke Valley in 1994 should help entice jobs.

Hotel Roanoke's renovation, scheduled for completion early in 1995, is the city's top priority - and a project city officials think will serve as a magnet for new business.

In Roanoke County, Valley Tech Park - an industrial park west of Salem - should be completed this summer. Tim Gubala, county economic development director, says Valley Tech will give Roanoke County 110 acres of attractive land to sell to businesses looking for a home.

As industrial recruiters have learned, businesses wanting to relocate or expand do not want any delays in building.

"When you show that property," Gubala said, "they see the road plans and what we're going to do, but it doesn't have any effect until they see the road and a site to locate on."

In terms of actual industrial recruitment, 1994 has the potential of being a good year. Phil Sparks, acting economic development director for Roanoke, said one of those indicators is simple: although companies do not normally think about relocating or expanding at the end of the year, the city had some inquiries in December.

Beth Doughty, executive director of Roanoke Valley Economic Development Partnership, looks at 1992 and 1993 as setting the stage for a good year.

"We had a fair amount of business and industrial growth in 1993, and we never needed it more, when you look at where we were last year at this time," she said. "1993 turned out to be not too bad."

At the end of last year, the Roanoke Valley faced the loss of 850 jobs caused by First Union Corp.'s takeover of Dominion Bankshares Corp. But most of those jobs - at least statistically - were absorbed by gains elsewhere in the region's economy.

This year, at least, those concerned with job creation in the Roanoke Valley are not starting out facing the prospect of a big layoff.

by CNB