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Regional Economic
Impact
Executive Summary
In response to rapidly declining employment in Southwest Virginia’s historically prominent industries
of farming, mining, and manufacturing, stakeholders around the region began to invest in
developing the creative economy. Since the start of the Crooked Road in 2004, travel expenditures
in the region have increased from $648.9 million to $1011.81 in 2016. Additionally, local tax revenues
have increased by 46.51% and state tax revenues by 41.06% in the same time period. The upward
trend in these travel related tax revenues has an impact at the local level through increasing meals
and lodging tax revenues in the region’s towns.
Overall employment in SWVA has dropped by 2.3%
since 2001, but employment in the leisure and
hospitality industry sector has increased by 14%.
1
Overall, the data suggests that the creative
economy related outcomes are on a positive trend
in Southwest Virginia, though the overall economy
still faces challenges.
1
Data from Bureau of Labor Statistics Quarterly Census of Employment andWages
Creative Economy Impacts
Key Facts
• Travel expenditures increased by 56%
from 2004 To 2016.
• Southwest Virginia counties and cities
collected almost $26 million in local travel
related tax revenue in 2016.
• Even through overall employment in SWVA
is slightly down compared to a decade ago,
employment in leisure and hospitality has
grown by 14%.