Economic Restructuring Plan

The New River Valley Regional Commission (NRVRC) prepared the Economic Restructuring Plan to complement
the design recommendations of the Pulaski Downtown Revitalization Master Plan. The purpose is to understand
the current economic climate in Pulaski, determine potential for business growth and recruitment, and outline
economic development strategies that will help Pulaski and its downtown create a stronger business
environment, target new investment, and position itself as a destination within the region. The complete report
is included as Appendix B. The following excerpts summarize the key findings and recommendations.

Economic Conditions & Market

The Town of Pulaski is recovering from dramatic declines in traditional economic drivers in the manufacturing
sector, which has caused significant strain throughout Pulaski County communities. In Pulaski County, over
4,000 jobs were lost between 2006 and 2010, with the loss of 3,100 jobs in the manufacturing sector. Pulaski
County employment figures have begun to rebound, with gains of nearly 700 jobs in the sectors of retail trade,
accommodation and food service, healthcare, and transportation and warehousing over the past decade.

Industry Sectors by Employment

Although recent investments have returned some jobs to the area, the town has experienced lower population
growth and higher rates of poverty than much of the surrounding area. In 2016, the town had an estimated
population of 8,933 residents, a 4.2 percent decrease since 2000. Similarly, the population of Pulaski County
decreased 2.3 percent over that time to an estimated 34,334 residents in 2016. During the same period, the
Blacksburg-Christiansburg-Radford metropolitan statistical area (MSA) has grown by over 10 percent, with the
largest increases in the ‘college towns’ in Montgomery County and the City of Radford. Median household
income in the Town of Pulaski is estimated at $37,485, well below the level of Pulaski County overall and the
Blacksburg metropolitan area. Similarly, the town has a higher poverty rate than Pulaski County, although the
rate is similar to the overall rate in the Blacksburg metropolitan area. Pulaski County and the Blacksburg
metropolitan area have higher educational attainment levels than residents of the town.
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