Costs

Low Costs - Cost of Living - Industrial Electric Rates - Construction Costs - Labor Costs

LOW COSTS
When making decisions about your business, costs are important. Whether its taxes, labor, construction, or anything else, it all affects business.

The Roanoke Region boasts a low cost of living so your money goes further when you invest here. Low electric rates, competitive construction costs, and reasonable health care costs combine to make business affordable. There's a reason why Roanoke is ranked among the Top 15 places for low business costs and the Top 100 Places for Business and Careers by Forbes.com.

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 Index

Region Index

Washington, D.C. 141.7

Boston, MA 140.5

Newark, NJ 134.0

Chicago, IL 114.8

Asheville, NC 103.6

Richmond, VA 102.1

National Average 100

Chattanooga, TN 92.4

Roanoke Region 90.5

Source: ACCRA, 1st Quarter 2013.

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/Month

Region Company Bill

National Average --- $2,999

Detroit, MI Detroit Edison Company $3,237

Columbia, SC South Carolina Electric & Gas $3,392

Birmingham, AL Alabama Power Company $3,197

Atlanta, GA Georgia Power Company $2,860

Roanoke Appalachian Power $2,536

Source: Typical industrial bills, investor-owned utilities, Winter 2013. Edison Electric Institute, Washington D.C.

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 2013 RS Means Building Construction Cost Book. The Construction Cost Index investigates over 700 communities and measures the costs of building materials, labor, climate, and local building codes.

RS Means Construction Index

Region Value Index

Newark, NJ 112.4

Los Angeles, CA 107.2

Pittsburgh, PA 101.8

Nat'l Average 100

Cleveland, OH 99.3

Rochester, NY 98.3

Portland, ME 96.1

Charleston, WV 95.0

Baltimore, MD 93.0

Atlanta, GA 88.0

Birmingham, AL 87.0

Richmond, VA 86.9

Roanoke Region 85.3

LABOR COSTS

At 4.4%, Virginia has the fifth lowest unionization rate in the country. Also, Virginia manufacturers have one of the lowest average workers' compensation costs in the country. At $0.72 per $100 of payroll in January 2010, Virginia ranks third lowest nationally and is 39.5% percent lower than the U.S. average. Roanoke Region wages are lower than the Virginia and the national averages.

Mean Labor Wages by Occupation and Locality

Occupation Roanoke Virginia U.S.

Business and Financial Operations $27.85 $37.08 $33.44

Health Care Support $12.94 $13.40 $13.36

Protective Service $16.63 $20.28 $20.70

Food Prep, Serving $9.55 $10.54 $10.28

Personal Care Service $10.32 $11.66 $11.80

Sales and Related $18.41 $17.69 $18.26

Office, Admin. Support
Const. and Extraction $15.13
$16.51 $16.74
$19.36 $16.54
$21.61

Install, Maint., Repair $18.43 $21.50 $21.09

Production $15.05 $16.47 $16.59

Transport, Material moving
Architecture and Engineering
Life, Physical and Social Sciences
Management $14.46
$29.87
$27.97
$46.38 $16.26
$40.64
$36.65
$57.99 $16.15
$37.98
$32.87
$52.20

Source: Bureau of Labor Statistics Wage Estimates, May 2012

Region	Index
Washington, D.C.	141.7
Boston, MA	140.5
Newark, NJ	134.0
Chicago, IL	114.8
Asheville, NC	103.6
Richmond, VA	102.1
National Average	100
Chattanooga, TN	92.4
Roanoke Region	90.5

Region	Company	Bill
National Average	---	$2,999
Detroit, MI	Detroit Edison Company	$3,237
Columbia, SC	South Carolina Electric & Gas	$3,392
Birmingham, AL	Alabama Power Company	$3,197
Atlanta, GA	Georgia Power Company	$2,860
Roanoke	Appalachian Power	$2,536

Region	Value Index
Newark, NJ	112.4
Los Angeles, CA	107.2
Pittsburgh, PA	101.8
Nat'l Average	100
Cleveland, OH	99.3
Rochester, NY	98.3
Portland, ME	96.1
Charleston, WV	95.0
Baltimore, MD	93.0
Atlanta, GA	88.0
Birmingham, AL	87.0
Richmond, VA	86.9
Roanoke Region	85.3

Occupation	Roanoke	Virginia	U.S.
Business and Financial Operations	$27.85	$37.08	$33.44
Health Care Support	$12.94	$13.40	$13.36
Protective Service	$16.63	$20.28	$20.70
Food Prep, Serving	$9.55	$10.54	$10.28
Personal Care Service	$10.32	$11.66	$11.80
Sales and Related	$18.41	$17.69	$18.26
Office, Admin. Support Const. and Extraction	$15.13 $16.51	$16.74 $19.36	$16.54 $21.61
Install, Maint., Repair	$18.43	$21.50	$21.09
Production	$15.05	$16.47	$16.59
Transport, Material moving Architecture and Engineering Life, Physical and Social Sciences Management	$14.46 $29.87 $27.97 $46.38	$16.26 $40.64 $36.65 $57.99	$16.15 $37.98 $32.87 $52.20