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					                                  News Release
                               From Bedford County
                                www.co.bedford.va.us


Office of the County Administrator
Date: December 12, 2005
For more information, contact
Bill Hoy, Public Information Officer- w.hoy@co.bedford.va.us
540 586-7601

The Virginia Tobacco Indemnification and Community Revitalization Commission has
awarded Bedford County Economic Development Authority $250,550 in grant funding to
help pay for roads and utilities in the first phase of developing the 500-acre New London
Business and Technology Center.

Delegate Kathy Byron, a member of the Commission who represents part of Bedford
County in the General Assembly, presented the symbolic check to Supervisors
Chairman Roger Cheek on December 7th at the entrance of the business park on
US 460.

Cheek praised the Commission for giving the project a jump start. “We are extremely
grateful to the Commission for recognizing the worth of this project,” he said.

The Tobacco Commission has already partnered with the County on this project,
contributing $34,836 in 2002 for engineering and design work and $83,274 in 2004 for
grading a parcel to make it available to a potential company as a building site.

Bedford County has invested $3.3 million in acquisition and early development. The
Bedford Public Service Authority has spent a further $2 million in water and sewer on
site. Earlier this year the board authorized a $2.7 million bond issue for roads and
utilities.

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“Unfortunately, recent cost estimates are above what we had anticipated,” said Sue
Montgomery, Bedford’s Director of Economic Development. “That’s why this grant is so
crucial. It allows us to keep on our timeline so we can have the first parcels ready in
2006.”

As its name implies, the business and technology center is being marketed to tech firms
and clean industry. Key features of the park include broadband service and wireless
communication.

“It will attract high quality companies because it will offer an aesthetically pleasing
atmosphere as well as basic services,” Montgomery said. “Besides the usual paved
streets, public water and sewer, New London will offer large wooded lots, walking trails
and a pleasing environment.”

A complete listing of the Tobacco Commission's awards and funding programs is
available at www.vatobaccocommission.org. The Tobacco Indemnification and
Community Revitalization Commission is a 31-member body created by the 1999
General Assembly. It has, as a significant part of its mission, the promotion of economic
growth and development in tobacco-dependent communities.


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