Special Report | Virginia Society of CPAs’ 2022 Virginia Economic Expectations Survey SOUTHWEST VIRGINIA
Andrea Hupp Stepka Partner | Foti, Flynn, Lowen & Co. | Roanoke
What do you love about living and working in your region? I moved here in summer of 1995, right after graduation from Virginia Tech. I love the mountains and the greenways. I am an avid runner, so the outdoor life here in Roanoke is amazing.
How is the economy faring in your part of the state right now?
Small businesses are having trouble finding good help, suppliers are limited everywhere … [and] prices are higher everywhere as well.
What local industries/sectors do you think have potential for growth? Technology/software and knowledge-based industries
56 | NOVEMBER 2021
What’s the biggest challenge to doing business in your area? Right now, the answer has to be COVID, right? It’s a huge challenge for workers to be face to face, and thus we as a CPA firm have had to embrace the remote aspects of working with our clients.
How is your area recovering economically from the pandemic? Overall, I think we are doing fine. … Our clients have weathered the storm, and for the most part seem to be coming out on the other side. We haven’t seen many businesses having to close, most likely due to the [Employee Retention Credits] and loans from the government.
What are the top factors that have had the biggest impact on attracting business to your region? Roanoke is a beautiful place to live. The mountains and scenery are a big attraction. The cost of living is very competitive as well. We have a high quality of living here, with a good mix of industries ranging from the small mom-and-pop to large businesses.
What are the top obstacles to your region’s economic success? There are some disparities in income levels in Roanoke and we have a growing popula- tion of people in poverty. ■
Stepka photo by Don Petersen
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