EXISTING INDUSTRY & WORKFORCE

Image Credit: Daimler Trucks North America

Daimler Trucks and Torc Robotics work to commercialize highly automated trucks

The Economic Development Department uses its Business Retention & Expansion (BRE) program as a way of maintaining good relationships and communication with companies in Montgomery County. Department staff arrange face-to-face BRE visits with local businesses to identify and help solve any problems or barriers that may be undermining their overall success and growth in our community. BUSINESS RETENTION & EXPANSION PROGRAM

DAIMLER TRUCKS ACQUIRES MAJORITY STAKE IN TORC ROBOTICS Torc Robotics, a leader in game-changing remote-control, digital-control, and autonomous robotics technologies and systems, announced this year that Daimler Trucks, a division of the Daimler Group, would be acquiring majority stake in their Blacksburg-based company. Daimler Trucks is the world’s largest manufacturer of heavy and medium trucks. Torc is already a leader in self-driving technology through its Asimov software. This new unique relationship will allow the two companies to work together to commercialize highly automated trucks. Torc CEO, Michael Fleming, is commited to keeping the company based in Blacksburg, and the company will remain a separate entity. This partnership will allow Torc to expand its team and grow its customer base in other markets. In 2019, the Department visited 53 separate companies, 12 of which required follow up information or services. Overall, the Department conducted a total of 74 visits. Five companies supported through the program announced or completed expansion or relocation projects that will result in $3.85 million in total new private investment and 80 new jobs.

In a press release announcing the acquisition, Michael Fleming said, “With the ever rising demand for road transportation, not the least through e-commerce, there is a strong business case for self-driving trucks in the U.S. market and I believe the fastest path to commercialization for self-driving trucks is in partnership with Daimler Trucks, the OEM market leader. This move is in line with our mission of saving lives and represents another major milestone for Torc since crossing the finish line in the DARPA Urban Challenge 12 years ago.”

VIRGINIA TECH CORPORATE RESEARCH CENTER HAS YEAR FULL OF GROWTH The Virginia Tech Corporate Research Center (VTCRC) is a 230-acre park located in Virginia’s Technology Corridor and adjacent to the Virginia Tech campus. This park is home to nearly 200 research, technology, and support companies. With 36 single- and multi-tenant buildings currently on site, there is room to construct 15 additional buildings. Through the companies that call the VTCRC home, there are over 3,300 employees in the park.

Over the last year, the VTCRC has experienced significant growth:

Building 1311 • Virginia Tech Research Building • 45,000 squre feet • Completed May 2019 • COgro CO-working COmmunity • A community of entrepreneurs, professionals, remote workers, early stage and startup companies, trailing spouses, temporary staff, and companies in transition to permanent spaces at the VTCRC to conduct business • Maximum membership: 64 • Opened October 1, 2019 • Building 1331 • 1901 Group • 2-story, 45,000 square feet, $8.8 million • Construction began June 2019, with completition date early 2020 • A provider of IT as a service through enterprise managed services, cybersecurity, and cloud computing, 1901 Group announced at the end of 2018 that it would be adding 580 new jobs their current Blacksburg facility • A groundbreaking ceremony for the new building was held on August 14, 2019 • Virginia Tech Transporation Institute (VTTI) Smart Road Rural Expansion • The VTCRC is working in conjunction with VDOT to design and construct the smart road rural expansion project for VTTI, located on Virginia Tech Foundation Property • Unique testing facility designed to recreate the challenges of rural roads and support the testing necessary to safely and efficiently deploy automated and autonomous vehicles in challenging environments • Other Projects • The VTCRC is providing select parking lots for the Virginia Tech Transportation Institute to conduct research. VTTI installed LED luminaires on light poles in Phase I of the research park in July 2019. The lighting research study will be conducted over the next two years. • Vue Apartments • Luxury apartments with 1-, 2-, and 3-bedroom units. Total of 452 bedrooms in 207 units • Intended to serve the housing needs of the VTCRC employees and students at the Edward Via College of Osteopathic Medicine • Rezoning of the property has been completed, and the apartments will be constructed on VTCRC property

Image Credit: VTCRC

Image Credit: 1901 Group