ROANOKE (WSLS 10) - The Virginia Tech Carilion Research Institute will expand, but not just with a building and jobs.
Plans are underway to create a health sciences and technology innovation district. This will connect the hospital to the downtown area along the Jefferson corridor.
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The plan is to fill many of the nearby vacant lots and under-used buildings, with hopes of making it one of the top health sciences areas in the country.
This announcement after the General Assembly approved $46.7 million in state funding. That will be matched by $21 million from Virginia Tech and Carilion Clinic.
The vision includes a number of private sector companies and businesses.
Initial estimates put economic benefits for the region at around $400 million each year.
Roanoke city manager Chris Morrill said, "The good thing about these high paying jobs is they have a higher multiplier effect, and it's going to help a whole range of our economy."
Leaders believe the innovation district could be up and running in the next two to three years.