Nestled in the scenic countryside of Southwest Virginia, the New River Valley (NRV) has evolved from a quiet rural area into a thriving economic powerhouse. Comprising Blacksburg, Christiansburg, Radford, and surrounding counties such as Floyd, Giles, Montgomery, and Pulaski, the NRV serves as a model for rural economic growth. A recent study from Old Dominion University showed NRV’s economy grew by 3.7% in 2023, surpassing the national average of 2.9% and making the area one of Virginia’s fastest-growing regions.
Thriving Economy with Steady Growth
If you’re a professional looking for a new career or an entrepreneur looking for a “business-friendly” community, the NRV is the perfect place to put down roots. The NRV’s GDP has grown by 13.1% over the past five years. This sustained economic expansion reflects the region’s strategic investments in programs like broadband expansion, the development of the New River Passenger Train (see below), and innovative collaboration with programs like Onward NRV. For entrepreneurs, the NRV Revolving Loan Fund is set up to help small businesses across the area reach their full potential.
Collaboration Across Sectors
The NRV’s success is rooted in its unique collaboration-first approach. Leaders from higher education, local government, and various industries frequently unite to promote growth. For example, Virginia Tech, Radford University, and New River Community College are working together to create a pipeline of certified IT and cyber security professionals, and the Partnership for Progress Initiative brings together leaders from Blacksburg, Christiansburg, Montgomery County, and the New River Valley Regional Commission to address local issues, attract and retain talent to the area, and collaborate on growth opportunities. For residents, this collaboration fosters an environment rich in career opportunities across multiple sectors. Graduates from local colleges can find rewarding employment without leaving the region, while professionals relocating to the NRV can enjoy small-town charm alongside big-city career potential.
Strategic Infrastructure Investments
Infrastructure improvements have played a key role in the NRV’s growth. The region has invested in expanding broadband access, enhancing transportation networks, and creating business-friendly incentives to attract companies. These enhancements benefit both businesses and residents, improving the quality of life. Reliable internet access, safer and more efficient roads, and growing commercial development contribute to a modern, connected, and convenient community.
After years of anticipation, the NRV is set for a significant economic and transportation transformation with the return of passenger rail service. The long-awaited Amtrak station will soon become a reality, thanks to the dedicated efforts of local NRV governments, the Virginia state government, and regional economic development organizations. Scheduled for
groundbreaking in March 2025 and expected to be fully operational by August 2027, the station will provide residents access to travel hubs across the Eastern Seaboard. This milestone marks a new era of connectivity and economic opportunity for Blacksburg, Christiansburg, and the greater New River Valley region.
Cost-Effective Living with Big Rewards
While urban areas across the U.S. face challenges like high housing costs and traffic congestion, the NRV offers an affordable and balanced alternative. Housing remains accessible in the region, allowing residents to enjoy a lower cost of living without sacrificing amenities or opportunities. For families, this means more disposable income to invest in education, recreation, and long-term goals.
The NRV also provides a vibrant mix of outdoor activities, cultural events, and community engagement. Residents can enjoy hiking in the nearby Blue Ridge Mountains, attending local festivals, or exploring the growing food scene. The 15-mile paved multi-use path, Huckleberry Trail, exemplifies this blend of growth and nature. The trail connects Blacksburg and Christiansburg and is part of a broader 60-mile network of trails in Montgomery County, Virginia. This scenic route supports walking, running, and cycling, enhancing outdoor recreation and accessibility for residents and visitors.
A Promising Future
The NRV’s economic success is supported by Virginia’s broader accomplishments and prospects, indicating that the region will continue to flourish in the coming years.
If you are interested in finding a new construction home in the Blacksburg area, contact us at The Homes at Berry Ridge. We are located in the heart of the NRV, and our community is just one mile from the Virginia Tech campus.