Economics & Economy

Anne Marie Morgan

After facing a $439-million shortfall at the end of the last state fiscal year, the Commonwealth is poised to reap the benefits of an improving economy with a multi-million-dollar budget surplus. State employees, college faculty, teachers, and State Police troopers also stand to gain.

Finance Secretary Ric Brown said annual revenues have grown by 7.3%—ahead of the 4.7% forecast. 

“If that were to continue—that variance—through June 30th, it’s worth about $427 million dollars.”

Hunger Hotline

Jun 8, 2015

One in ten Virginians lives in households that can’t always afford enough food. However, there is a toll-free hunger hotline funded by the department of agriculture that connects callers in need with self-sufficiency services in their area, like food pantries and soup kitchens. Marianne Vargas is with the Foodbank of Southeastern Virginia and the Eastern Shore.

Virginia food banks distributed 142 million pounds of food to 1.2  million people last year.

Tourists visiting Virginia last year generated a record-setting $22-billion in revenue. That’s according to the latest state numbers, which also indicate that the tourism industry has become the fifth-largest private employer in the state.  State officials say the Commonwealth’s global exposure will soon grow even more.

http://www.hokiesports.com/football/

In Blacksburg, Virginia the words, “game day” mean two things: Hokie football and traffic.  But a new economic impact study says that traffic brings 69-million dollars a year to the region. 

Doubletree Hilton

Norfolk and Western (now Norfolk Southern) opened the Hotel Roanoke on Christmas Day 1882. After undergoing a number of renovations and additions, the Star City mainstay was closed in 1989 - but reopened soon after. The City of Roanoke and Virginia Tech marked the 20th anniversary of the hotel’s reopening by releasing a report that examines the its impact on the local economy. 

In 1989, when the Norfolk Southern Corporation donated the Hotel Roanoke to Virginia Tech, not everyone thought the deal made sense. In fact, it made a lot of dollars.

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