Montgomery Co. ranks high for announced job creation
CHRISTIANSBURG — Montgomery County was one of the busiest places in all of Virginia last year.
In 2011, seven new or expanding companies announced plans to invest $43.5 million and create 572 new jobs in the community. Out of 134 counties/cities in Virginia, Montgomery County ranked 8th for job creation, 15th for investment and tied for 8th number of business announcements.
These findings are according to a recent analysis of data contained in the Virginia Announcements Database by the Montgomery County Economic Development Department.
The database – which is maintained by the Virginia Economic Development Partnership – tracks direct investments and new jobs created in Virginia as a result of publicly announced plans by new or expanding companies who have a substantial customer base outside the state – also known as ‘basic employers.’
According to the analysis, 2011 was one of the best years in recent memory for business announcements in Montgomery County and the fourth year that planned job creation has increased.
The year marked both the most planned job creation since 2001 (700 jobs) and highest announced investment since 2004 ($44.1 million).
Information provided by the Montgomery County Economic Development Association.