ROANOKE TIMES 
                      Copyright (c) 1997, Roanoke Times

DATE: Saturday, March 8, 1997                TAG: 9703100096
SECTION: BUSINESS                 PAGE: A9   EDITION: METRO 
SOURCE: JEFF STURGEON THE ROANOKE TIMES 

NEW CENTURY REGION IS CALLED NEW HOT SPOT FOR COMPANIES TIDEWATER TIED FOR FIRST PLACE

The region made up of the Roanoke and New River valleys and Alleghany Highlands was one of the state's two economic hot spots last year, with 25 new manufacturing plants and service operations announced.

The region made up of the Roanoke and New River valleys and Alleghany Highlands was one of the state's two hot spots where companies announced the most new plants and expansions last year.

The state counted new manufacturing plants and expansions and new service operations such as warehouses and research laboratories for 18 regions. The Roanoke-New River-Alleghany region had 25 announcements in 1996, tying Tidewater for first place, the Virginia Economic Development Partnership said this week.

The New Century Region will get fewer new jobs and less investment than some other areas where higher-impact projects were announced, but the number of announcements was higher in this region.

"Looks good," said Beth Doughty, who directs the Roanoke Valley Economic Development Partnership, a Roanoke-based industrial recruiting organization. "We worked real hard."

"The report shows our New Century Region," which includes the two valleys and highlands, "is an excellent place to do business," said Stuart Gilbert, hired to run the New River Valley Economic Development Alliance in June 1996.

The new report shows the Roanoke region rebounded somewhat from a downturn in 1995 in its economic development performance. The state's overall success in economic development slipped, however.

The number of projects announcements statewide dropped from 218 in 1995 to 206 in 1996. Pledged jobs fell 20 percent from 30,810 in 1995 to 24,511 in 1996, and pledged investment skidded 40 percent from $5.93 billion to $3.54 billion. However, foreign companies' pledged investments hit a record $1.25 billion last year.

LENGTH: Short :   45 lines
ILLUSTRATION: GRAPHIC:  Chart by staff: Region ties as state's 1996 economic 
          development leader. 
KEYWORDS: MGR