VCEDA
provides $1 million grant for multi-jurisdictional
park
GRUNDY-
October 5, 2005 – The Virginia Coalfield Economic
Development Authority (VCEDA) today closed a $1,083,432
grant to the Buchanan County Industrial Development
Authority for a land purchase for a regional industrial
park near the proposed Coalfields Expressway.
Officials
from Buchanan, Dickenson and Wise counties have been
working together in recent years to create a revenue-sharing,
multi-jurisdictional industrial park.
“Buchanan
County has identified an area near the Buchanan County/Dickenson
County border in the Lovers’ Gap and Poplar
Gap area,” said VCEDA Chairman Donald Baker.
“This grant will help fund the purchase of the
land.”
The
Buchanan County IDA is interested in purchasing approximately
1,800-2,275 acres of surface land with the ultimate
goal of transferring it into a regional, revenue-sharing,
industrial facilities authority to be formed between
two or three of the coalfield counties, said Baker.
“Several
years ago, the VCEDA board established several new
programs for furthering regional development. Creating
revenue-sharing, regional industrial parks was an
important component of the new programs, and we are
very encouraged that Buchanan County has begun to
put a plan into action,” said Charles Yates,
VCEDA executive director.
Plans
for the property are multiple use and include industrial,
commercial, retail, and residential development, according
to Jay Rife, chairman of the Buchanan County IDA.
“We
are especially pleased that Buchanan County can take
the lead on this project and join together with our
neighboring counties to further promote our region.
We expect the Coalfields Expressway to open up our
area to development, and we want to be ready for that,”
said Rife, who also is a member of the VCEDA board
of directors.
