Advance Auto Parts HQ to relocate to Raleigh (Roanoke, Blue Ridge: wage, tax)

[LM117]

For those interested.

https://www.newsobserver.com/news/bu...222280460.html

[Rickcin]

It’s definitely regrettable that Roanoke will lose its only Fortune 500 Company that originated here in Roanoke.

Other states are in a better position to offer great incentives to attract successful companies to their area. It always hurts the local economy, to some degree, when losing a local company especially their headquarters.

[TN Lily]

This may be a simple and stupid question, but why can't Virginia do the same? Reading the article LM117 linked, 435 new jobs over five years with an average wage of $106,000 is a big deal. Why are other states in a better position to offer great incentives, but Virginia is not? If NC - state & local governments - are offering a $12 incentive package to move, they must believe that in the long-term, this investment will return more than they are paying out.

[Rickcin]

Originally Posted by TN Lily

This may be a simple and stupid question, but why can't Virginia do the same? Reading the article LM117 linked, 435 new jobs over five years with an average wage of $106,000 is a big deal. Why are other states in a better position to offer great incentives, but Virginia is not? If NC - state & local governments - are offering a $12 incentive package to move, they must believe that in the long-term, this investment will return more than they are paying out.

Good question and I’m guessing they did seek out a counter offer from Roanoke/Virginia. Other factors that the Company may have considered is the overall tax rate in NC ( not sure how it compares) or more importantly, the labor pool. I would imagine that area of NC has a much larger population and perhaps more diverse with a targeted age group age of people who would be employed? Many factors support their decision and we lose!

[Johnathon Hills]

AA Acquired CARQUEST, which is based in Raleigh. Raleigh has more access to tech workers, better road and distribution network and it's a city known for business. It was a logical move.

[Rickcin]

Originally Posted by Johnathon Hills

AA Acquired CARQUEST, which is based in Raleigh. Raleigh has more access to tech workers, better road and distribution network and it's a city known for business. It was a logical move.

A “Strategic business move” as they say!

[Rabrrita]

I know this is a bit late chiming in, but as a business owner who looked at Roanoke for an expansion opportunity, the area lacks a business identity. Unless a business has a reason to operate in Roanoke area, there is really nothing unique or special to draw or keep a business that has no physical demanding ties to the area. So, what you will get is select industries as the follow opportunity within an industry such as the current "health/medical" expansion. But that expansion is not Roanoke specific and as expansion takes hold, more vibrant communities may ultimately draw they away.

Roanoke needs an identity to make it attractive to businesses. Railroads and a gateway to the Blue Ridge isn't cutting it.

[TN Lily]

Rabrrita, can you give an example of a business identity? What would you suggest Roanoke's business identity could be?

[Watchful]

Transportation accessibility has been one of Roanoke's natural advantages for business - considering that it is a 7 hour drive to Atlanta, a little over 10 hours to Boston (or 20 depending on traffic haha), and a little over 10 to Chicago - I heard somewhere the stat about the percentage of the US population that was within a certain number of miles and it was astonishing.

Of course when I get on I-81 I sort of regret that accessibility from time to time HAHA!

[Watchful]

Oh I managed to Google up that stat...

https://www.roanokeindustrialcenter....oke/index.html