Investor Spotlight:Virginia Tech Corporate Research Center

Type of Business:The VTCRC develops a growing, prestigious research park for high-technology companies. In collaboration with VT, we advance the research, educational and technology transfer missions of the university.

Mission: To develop a growing, prestigious research park for high-technology companies that matter. In collaboration with Virginia Tech, we advance the research, education and technology transfer missions of the university.

What makes your company special?
The Virginia Tech Corporate Research Center is in a small minority of highly-successful research parks worldwide that are service-based rather than real estate-based. Most research parks focus on land and building development with little or no ongoing interaction with the tenant. Larger tenants with long lease terms are more desirable for this model. The VTCRC believes that by leveraging its resources for the benefit of its tenants, companies can go faster, building the local economy and generating revenues that can be reinvested by the VTCRC to make it even more attractive and desirable for companies that matter. At the VTCRC, short term, flexible leases are the norm built on a strong partnership of assistance with its tenant companies. The VTCRC assists companies with business, financial, marketing and public relations, and human resource issues in a highly socially-collaborative environment. Citizens is a regional full-service communications and entertainment provider serving rural communities throughout Southwest Virginia. Headquartered in Floyd, Virginia, Citizens is a Membership Cooperative with roots tracing back to 1914 when landline telephone was established in rural Floyd County.

Why do you contribute to the mission of Onward NRV?
Onward NRV and the VTCRC are both focused on the recruitment of high quality companies that will enhance our local economy. Combining the VTCRC’s contribution with others whose businesses will benefit from economic development allows Onward NRV to do a better recruiting job than any entity could do alone. It also allows them to use approaches, like attendance at trade shows, that would be equally cost prohibitive for a single entity.

What is new with VTCRC?
The VTCRC continues to add to its inventory by constructing new buildings. Two research buildings are being developed at the present time. Land adjacent to the VTCRC is being rezoned from research and development to planned residential to allow the construction of three buildings for condos and apartments. It will be a highly desirable location for tenant employees who wish to walk or ride their bikes to work. Completion is scheduled for late 2019. The VTCRC currently consists of 185 tenants who employ over 3,100 people. There are 33 buildings in the research park totaling 1.2 million square feet.

For more information, contact:
Joe Meredith PH.D, President and CEO
Virginia Tech Corporate Research Center
Phone: 540-961-3600
Joe.Meredith@vtcrc.com
http://www.vtcrc.com/ ###Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of all worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.