Costs
LOW COSTS
When making decisions about your business, costs are important. Whether its taxes, labor, construction, or anything else, it all affects business.
COST OF LIVING
A low cost of living is important to individuals and businesses. It means lower bills and less money spent on an operating budget. Compared to other areas competing for your business, you cannot beat the Roanoke Region when it comes to affordability. Compare costs for yourself with this cost of living analyzer.
Cost of Living IndexSource: ACCRA, 2009 Annual Average
Region
Index
Boston, MA
130.9
Newark, NJ
127.3
Chicago, IL
113.2
Richmond, VA
106.7
Asheville, NC
101.9 Nat'l Average
100
Charleston, SC
99.4
Roanoke Region
95.3
INDUSTRIAL ELECTRIC RATES
The Roanoke Region is served by Appalachian Power, a unit of American Electric Power, and portions are served by Dominion power. The region maintains lower electric rates than comparable regions.
Monthly Bill at 75 kW 30,000 kWh/MonthSource: Typical industrial bills, investor-owned utilities, January 1, 2009. Edison Electric Institute, Washington D.C.
Region
Company
Bill
Cleveland, OH Cleveland Elec. Illuminating $3.340 Birmingham, AL Alabama Power Company $3,221 National Average
---
$2,897 Columbia, SC South Carolina Electric & Gas $2,822 Atlanta, GA
Georgia Power Company
$2,689
Richmond, VA
Dominion Virginia Power
$2,477
Roanoke
Appalachian Power
$2,103
CONSTRUCTION COSTS
For any relocation or expansion decision, the cost of construction is an important factor. Construction costs in the Roanoke Region are not only competitive, but considerably lower than the national average according to the 2006 RS Means Building Construction Cost Book. The Means Construction Cost Index investigates over 700 communities and measures the costs of building materials, labor, climate, and local building codes.
Means Construction Index
Region
Means Index
Detroit, MI
107.3
Los Angeles, CA
106.8
Cleveland, OH
100.4
Nat'l Average
100
Atlanta, GA
89.4
Birmingham, AL
87.0
Richmond, VA
85.4
Lexington, KY
82.5
Austin, TX
80.0
Roanoke Region
77.1
Mean Labor Wages by Occupation and Locality
Occupation Roanoke Virginia U.S. Health Care Support $12.02
$12.55 $12.66 Protective Service $16.71 $19.55 $19.33 Food Prep, Serving $8.92 $9.67 $9.72 Bldg and Grnds/Clean $11.05 $11.07 $11.72 Personal Care Service $9.89 $11.66 $11.59 Sales and Related $14.86 $17.07 $17.35 Office, Admin. Support
Const. and Extraction
$14.00
$15.91
$15.71
$18.37
$15.49
$20.36
Install, Maint., Repair $17.89 $20.24 $19.82 Production $13.95 $15.23 $15.54 Transport, Material moving
Architecture and Engineering
Life, Physical and Social Sciences
Management
$12.90
$30.75
$27.15
$42.43
$15.25
$35.71
$34.99
$52.22
$15.12
$34.34
$30.90
$48.23
Source: Bureau of Labor Statistics Wage Estimates, May 2008




