Page 36 - High Knob Master Plan

KEY FINDINGS
There has been a changing economy in Southwest Virginia (SWVA) noted by a shift in jobs from 1990-2010. During this time, manufacturing jobs decreased by 46%, mining by 29%, and farming by 26%. This represented a 2.3% decrease in all jobs in SWVA during these years.
However, while these traditional employment sectors have seen continued decline, travel and tourism indicators have shown significant growth:
> 14% growth in leisure and hospitality job sectors between 1990-2010
> 56% increase in travel expenditures between 2004-16
> $1 billion in travel expenditures in Southwest Virginia region in 2016 alone
Overall indicators show a stabilization of the economy in the region, which is being led by significant growth in travel and tourism sectors.
According to the SWVA Region Travel Profile, 14% of visitors come to the region for outdoor recreation. The profile also shows:
SWVA TOTAL GALAX PULASKI MONTGOMERY BRISTOL FLOYD NORTON WYTHE RUSSELL TAZEWELL LEE DICKENSON WISE CARROLL GILES FRANKLIN PATRICK SCOTT RADFORD WASHINGTON BLAND SMYTH GRAYSON BUCHANAN
PERCENT CHANGE IN TRAVEL EXPENDITURES 2004-2016
56%
86%
81% 70%
69% 65%
64% 60%
60% 59%
58% 54%
53% 52%
52% 50%
47%
47% 44%
42% 42% 42%
37% 32%
> >
> >
Washington DC, Roanoke and the Tri-Cities are the top places of origin for regional visitors.
The Median Household Income of the traveler to SWVA is $100,000, signficantly higher than that of residents of the LENOWISCO region, $33,335.
Crooked Road visitors spend between $192-272 per person/per trip.
Similarly, Spearhead Trails visitors who stay in the region overnight spend $214 per person/per trip.
> $27 million economic impact of Spearhead Trails between 2013-17
> $9.2 million annual impact of Crooked Road to SWVA.
1$14% GROWTH IN LEISURE AND HOSPITALITY JOB SECTORS BETWEEN 1990-2000
PROFILE OF VISITORS COMING TO THE REGION FOR OUTDOOR RECREATION
TRAVEL and TOURISM INDICATORS HAVE SHOWN SIGNIFICANT GROWTH
ROANOKE
INCREASE IN TRAVEL EXPENDITURES BETWEEN 2004-16
56%
TRI-CITIES WASHINGTON D.C
$27
Travel Expenditure Change in SWVA Region. Source: Friends of SWVA Annual Report 2017
ARE THE TOP PLACES OF ORIGIN FOR REGIONAL VISITORS
BILLION IN TRAVEL EXPENDITURES IN SWVA REGION IN 2016 ALONE
PER PERSON/PER TRIP
$214PER PERSON PER TRIP
36 CHAPTER 6: ECONOMICS
HIGH KNOB REGIONAL INITIATIVE
$9.2
MILLION ANNUAL IMPACT OF CROOKED ROAD TO SWVA
SPEARHEAD TRAILS VISITORS WHO STAY IN THE REGION OVERNIGHT SPEND:
MILLION ANNUAL IMPACT OF
CROOKED ROAD VISITORS SPEND BETWEEN:
$100,000
SPEARHEAD TRAILS
2013-17
$192-272
THE MEDIAN HOUSEHOLD
INCOME OF THE TRAVELER TO SWVA IS: