Marty Gordon
NRVsports@mainstreeetnewspapers.com
Virginia Tech generated $4.7 billion in statewide economic impact in fiscal year 2025, supporting 35,519 full-time equivalent jobs and producing $316.9 million in tax revenue. The numbers are from a new report commissioned by the Virginia Tech Foundation.
President Tim Sands highlighted the findings during his annual State of the University Address last week, describing Virginia Tech’s expanding role in strengthening communities across the commonwealth.
“This analysis demonstrates that our investments in education, research, and outreach translate into jobs, tax revenue, innovation, and long-term prosperity for Virginia,” he said. “We are delivering on our responsibility to generate impact and to ensure that our work strengthens the communities we call home.”
Sands is the 16th president of Virginia Polytechnic Institute and State University and a professor in the College of Engineering. This was his 10th annual “State of the University” address.
Of the $4.7 billion statewide total, the university directly contributes $1.6 billion in economic impact through salaries, capital projects, and research. An additional $3.1 billion represents indirect and induced economic activity generated from university-related spending that circulated through businesses and households across Virginia.
He said the $4.7 billion statewide total, the university directly contributes $1.6 billion in economic impact through salaries, capital projects, and research. An additional $3.1 billion represents indirect and induced economic activity generated from university-related spending that circulated through businesses and households across Virginia.
Just in the New River Valley, approximately $3.4 billion was reported in statewide economic impact and 25,629 full-time equivalent jobs. This includes more than 9,100 direct employees and more than 16,500 additional full-time equivalent jobs supported by university-related economic activity, reflecting the university’s broad role as an employer, research hub, and driver of regional commerce.
President Sands pointed to the continued emphasis on previously established priorities, a significant focus on athletics going forward and the formulating of plans to meet possible challenges ahead. His state of university was given during an address at the Virginia Tech Center for the Arts.
“Today, the state of our university is engaged, energized, optimistic, and prepared to move ahead in 2026,” Sands said. “Our focus is on serving our students and our communities, delivering meaningful and measurable impact and value, and engaging new partners and building public trust in the value of our approach to higher education.”
He said two priorities, Virginia Tech Global Distinction and Virginia Tech Advantage, will continue to be a focus for the university.
Sands cited several examples of the university’s global impact, including the university’s collaboration with the U.S. Navy to address the organisms that grow on the hulls of ships and decrease speed and efficiency; a venture with Sinclair Broadcasting Group that involves training drone pilots for news-gathering operations; and several health care-related projects led by Virginia Tech Carilion School of Medicine and the Fralin Biomedical Research Institute at VTC in Roanoke.
He also discussed plans to expand Virginia Tech’s medical school by as many as 400 students. A new 100,000 sq. ft facility will help the school expand the Virginia Tech Carilion School of Medicine in Roanoke at the corner of South Jefferson Street and Old Woods Avenue across the street from the current facility. The new student enrollment would double the school’s current numbers.
An estimated $9 million has been set aside with the total cost being $183.7 million. The university is seeking funding from the Virginia General Assembly to pay for the bulk of the construction.
The new building could open by 2028, and Sands said the expansion will help the Commonwealth solve a growing shortage of physicians.
This part of the announcement comes three weeks after the medical school received the largest scholarship endowment in the history of the school, a $20 million gift from Virginia Tech alumni Jim and Augustine Smith.
During his State of the University speech, Sands also addressed tuition affordability, saying the Virginia Tech Advantage program helped to drive down tuition by approximately $2,000.
