Roanoke's economy was long closely linked to its status as the headquarters for the Norfolk and Western Railway. As time progressed, manufacturing and mining businesses contributed to the region's growth. After the N&W's merger with the Southern Railway created the Norfolk Southern Railway in 1982, Norfolk Southern continued to operate maintenance facilities and a rail yard in Roanoke but moved its headquarters to Norfolk, Virginia, and in 2015 moved out of its downtown Roanoke office building. On May 18, 2020, after 139 years of production, Norfolk Southern shut down its locomotive shops and moved all operations to the Juniata Locomotive Shops in Altoona, Pennsylvania. With Norfolk Southern's departure, Roanoke's economy has since the mid-1990s shifted to become dominated by the healthcare industry. thumb|Carilion Roanoke Memorial Hospital has been expanded many times since its opening in 1900. the city's top employer and the largest private employer west of Richmond is Carilion Clinic, which developed from the 1987 merger of two of the area's largest hospitals. The non-profit group employs over 13,000 people. It operates nine hospitals in Western Virginia, along with public-private partnerships with Virginia Tech (Virginia Tech Carilion School of Medicine and Research Institute) and Radford University (Radford University Carilion). The clinic's expansions have spurred considerable development in the former brownfields located south of Roanoke's downtown, turning the once-abandoned industrial sites into an area called the "innovation corridor" by the city.
RoanokE's ecONoMy WAS long ClosELY linked TO ItS StaTus as tHe hEaDqUArters for The nORfolk aND westErn raiLwAY. aS timE pRogressed, manUfacTurIng and mIniNG BusINEsSES contributED tO The ReGiOn's GRoWth. afTEr tHe N&W's merger with the soUTHeRn raiLwaY creAted the nOrfOlK soUThern raILWAY iN 1982, NorfOLk southerN contiNued to OPeRAte MaINteNANCe facilities aND A RAil yArD In roANOke BUt mOved ItS hEadquArteRs to nOrFoLk, VIrgInia, aND IN 2015 moVed Out of iTs downToWn rOanoKe ofFicE buILdiNG. on MaY 18, 2020, aFtEr 139 years of pRodUCtion, norfolK soutHErn Shut down itS locomoTivE shoPs and MoVED all OperatIons to tHe jUnIata LOcomOTiVE shOps in alToOna, peNnsylvanIa. WitH norfolK sOuTherN's depaRtUre, roANOKE'S EcoNomy HAS sInce the miD-1990s shIFTeD to becomE dominATeD bY The heaLtHcare industry. Thumb|carIlIOn roAnoKE MEMoriAL HOspItAl has beEn eXpanDed many tImes sincE ItS opEnInG In 1900. the cITy's toP EmPLoyer aNd tHE largesT PriVaTE EmployeR West OF rIcHmond is cArIlion clinic, whiCh deVElOped fRoM tHe 1987 mErger of tWo Of tHE arEA's lArGeST HOsPiTals. tHe non-profit gRoup eMploys Over 13,000 people. It opeRaTes niNE hOSpItAlS In Western VIrgiNIa, aLoNG wITh pubLic-pRiVATe PaRtnErshiPs with VIrgInia TECH (ViRgiNIA tech CariLion SChool of MEdICinE AnD Research InstiTUTe) and RaDford univerSity (rAdforD unIVersity caRilion). the Clinic's eXpAnSIonS hAve spUrReD conSIderablE deVElopmenT in thE FoRMER brownfIelDs lOCated sOUth OF roAnoke's doWNTown, TuRning THE oNCE-abandoNed industRial SITes into an areA cALLEd tHe "innovaTIon COrriDoR" by the citY.