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FY 2000-2001 Annual Report |
Virginia=s
New River Valley | |
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1. Changes in Geographic Configuration The New River Valley Regional Competitiveness Partnership (NRVRCP) has not made any changes in its geographic configuration. The NRVRCP met on March 22, 2001 and May 15, 2001. At the March meeting, the New River Valley Planning District Commission, the fiscal agent for the NRVRCP, presented information regarding the funding status for this fiscal year, the proposed RCP budget for next year, and the RCP funding formula. The Partnership also reviewed and accepted the updated benchmarks for the projects. The May meeting focused on the distribution of 2001-02 funds and approval of the RCP Annual Report for FY 2000-01. 3. Changes in Partnership Bylaws There have been no changes in the Partnership�s bylaws. 4. Partnership�s Plan for Review and Update of Regional Strategic Plan The Partnership approved the Comprehensive Economic Development Strategy (CEDS) as its strategic plan at its May 2000 meeting. The CEDS document, which is required for funding by the Economic Development Administration (EDA), results from a planning process which guides the economic growth of the area. The New River Valley CEDS is based on the same region as the Partnership, and Partnership members participated in its development. The EDA requires an annual report similar to that required by the RCP Program Guidelines, and adjustments to the strategy are to be made annually. A copy of the CEDS Annual Report is available on the web at http://www.nrvpdc.org. Please see attached list of officers and members (Excel). 2000-2002 Officers Chairman: David Ridpath, City of Radford Co-Vice Chairmen: Joseph Sheffey, New River Community College; Thomas Starnes, NRV Planning District Commission Executive Committee Fred Gerald, Floyd County Carole Pratt, NRV Economic Development Alliance David Ridpath, City of Radford Joseph Sheffey, New River Community College Morris Stowers, Morris Stowers and Associates Thomas Starnes, NRV Planning District Commission Scott Weaver, Town of Christiansburg Please see attached forms (Word). None of the projects have been completed. Please see attached forms (Word). 9. Existing Projects Highlights New River Valley Development Corporation: The Development Corporation continues its programs to help small businesses. Through its business incubator, the New River Valley Competitiveness Center, the Development Corporation has assisted 14 companies during the year. The Center has secured additional funds through grants from the Economic Development Administration and the Virginia Department of Business Assistance to add 20,000 sq. ft. to its incubator to serve additional businesses in the region. A mentoring program has also been developed to assist incubator tenants. Over 20 mentors are currently providing assistance to tenants. For further information on the Competitiveness Center, please see #10, the Success Story. Radford/Montgomery County Joint Land Use Controls and Planning: This effort was undertaken to update the original 1992 study of the Rt. 177/Tyler Avenue corridor. The update of the 1992 study was driven by concerns over sewer and water utility capacity in the corridor. The effort was led by a steering committee appointed by the two localities. The process included two public involvement meetings which were held to gather input from citizens in the corridor. The steering committee met monthly from September 1999 to October 2000. The Committee developed and forwarded to the local governments the study update document that included an extensive set of recommendations. The steering committee advanced recommendations which addressed the following issues: sewer/water capacity and peak sewer flows; need for a stormwater management study; a utility services policy and adequate facilities test; a new future land use map for the corridor; open space requirements; fire and rescue service areas; and modification of local bicycle plans. The Montgomery County Board of Supervisors has adopted the updated study and has modified its comprehensive plan accordingly. The Rt. 177/Tyler Avenue corridor amendments have been incorporated into Radford City�s updated 2001 Comprehensive Plan as well. The Plan has been forwarded to City Council and should be adopted by the end of May 2001. The Route 177 Corridor Revenue Sharing Agreement will not be modified as a result of the 2000 update to the Route 177/Tyler Avenue Corridor Study. The previous study will continue to serve the localities. Giles County Regional Water System: The County and all five towns, Glen Lyn, Rich Creek, Narrows, Pearisburg, and Pembroke are all on line. The final completion of the main infrastructure was in July 2000. Contract negotiations continue with outlying subdivisions and unincorporated areas that are in need of service. 10. Success Story
In 1982, the Planning Commission saw the need to have an economic development organization to take advantage of opportunities that had appeal to regional interests. The New River Valley Development Corporation was chartered in 1983 with representation from all the New River Valley Planning District Commission member localities. The initial focus of the Corporation was SBA lending under their 503 and 504 programs. However, over time, and in particular with the National Defense Conversion program, the Development Corporation became the organization it is today. The Development Corporation was awarded a grant of $2 million from the U. S. Economic Development Administration (EDA) to build a business incubator in Pulaski County to serve the New River Valley region. Along with the grant, a low interest, long term loan of $1.1 million from the Rural Development Administration made the construction of the New River Valley Competitiveness Center possible. The Center was completed in April 1999. The 31,000 sq. ft. facility has since served 14 new businesses and regional organizations, and has seen over 200 new jobs created. The Competitiveness Center has secured additional funds through grants from the EDA and the Virginia Department of Business Assistance to add 20,000 sq. ft. to expand its incubator services to more businesses in the region. The following account of one of the tenants is given to demonstrate the success of the Competitiveness Center. The story of ACT MicroDevices, Inc. is only one of many successes expected from the foresight of the Planning District Commission with ground work laid over eighteen years ago.
ACT MicroDevices, Inc. was started in 1996 by four graduat In November 1999, they signed a lease with the New River Valley Development Corporation to occupy 2,000 sq. ft. of manufacturing space in the New River Valley Competitiveness Center business incubator. They set up production lines and began adding to the 18 employees they had when they moved in. By July 2000 they added another 1,300 sq. ft. of office and sales space in the Competitiveness Center. Also, during this time they grew to over 75 employees.
Also in June 2000, ACT and Montgomery County jointly announced their purchase of the Montgomery County shell building in the Blacksburg Industrial Park. ACT would invest $28 million in the project and projected an increase in employment to 300 over a three year period. ACT began moving to their Blacksburg facility in February 2001. The New River Valley Development Corporation, with monetary support from the New River Valley Regional Competitiveness Partnership, will continue to provide the best services to its tenants and help them grow into the future. The CEDS 2001 Annual Report will be submitted to DHCD upon completion which is scheduled for June 2001. A copy of the CEDS Annual Report will also be available on the web at http://www.nrvpdc.org after June 30, 2001. | |
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The New River Valley Competitiveness Center serves the Counties of Floyd, Giles, Montgomery, and Pulaski, and the City of Radford.
es of Virginia Tech.
In June 2000, ACT leased an additional 12,000 sq. ft. of office and manufacturing space in a nearby building in the New River Industrial Park further increasing production and employment.