The [[Corporate Research Center|Virginia Tech Corporate Research Center]] is home to several companies of varying sizes including [[VTLS]], [[Honeywell]], and the [[National Weather Service]] which maintains its [[Southwest Virginia|Southwestern Virginia]] headquarters there. The town is also home to [[Moog Inc|MOOG]], a major contractor for the defense department and the health care industry and [[Rackspace]]'s Email and Apps Division (formerly Mailtrust and Webmail.us). The town and county continue to recruit major industry to the area. Due to its close proximity to [[Virginia Tech]] and [[Radford University]], Blacksburg is an ideal location for developing high tech industry.

* [[Steppin' Out]], the town's first annual street festival, has taken place on the first Friday and Saturday of every August since 1976 when it was known as the Deadwood Days Summer Festival. The festival's name was changed in 1980. Steppin' Out features over 150 artists and crafts people from around the United States selling unique handcrafted items, local merchants holding final clearance sidewalk sales, local restaurants selling food through outdoor vending, multiple stages for live performances, and "fun for the entire family". The area from North Main Street and Alumni Mall (sometimes even more to the north) to South Main Street and Roanoke Street and Draper Road and Lee Street is designated for the festival. The Draper Mile Run, which was started in 1982, is a one-mile (1.6 km) road race for runners of all ages that is held annually during the first evening of the festival.