Gross Domestic Product (GDP) 101

Gross domestic product (GDP) is one of the best comprehensive and closely monitored economic statistics available. It measures the market value of the goods and services produced by the United States economy in a given time period.  Information about GDP can be found within the National Income and Product Accounts (NIPA), produced by the Bureau…

Virginia Tech Newport News Center Celebrates Opening

On February 5, the Virginia Tech Newport News Center celebrated their opening with a ribbon cutting ceremony hosted in partnership with the Hampton Roads Chamber and VA Peninsula Chamber of Commerce. With an estimated 70 attendees, the event showcased the newest Virginia Tech Commonwealth Campus Center to industry partners, economic development professionals, partner higher education institution…

GO Virginia Region 2 Council Approves Projects Centering on Entrepreneurship and Business Development

On February 4, 2020, GO Virginia Region 2 council members gathered at the Carilion Clinic in Roanoke, Virginia for their full council meeting along with GO Virginia staff, grantees, and the public. Agenda items included discussing new and updated proposals, reporting on project metrics, discussing state board broadband, and updating council members on the January…

City of Galax Moves Forward With Revitalizing Historic Vaughan Furniture Building

In Spring 2019, graduate students in the economic development studio class completed a semester-long planning project for the city of Galax, investigating redevelopment options for a large industrial building within the city’s boundaries. The building, known to Galax residents as the T.G. Vaughan Building, was a former furniture factory and once an important part of…

OED Graduate Assistants Help NRV Children’s Museum Plan For The Future

Children’s museums are important for a child’s early growth and development, as graduate assistants from Virginia Tech’s Office of Economic Development (OED) discovered while performing an organizational analysis of the Children’s Museum of Blacksburg. The museum has relocated to Christiansburg’s New River Valley Mall and will reopen soon under the new name Wonder Universe. The…