
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, March 3, 1995                   TAG: 9503030148
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: JEFF STURGEON
DATELINE:                                 LENGTH: Short

COUNCIL, 'INCUBATOR' MAY GET FUNDS

Two key economic development efforts of the Roanoke Valley - the New Century Council and a proposed small-business incubator - would receive new funds under the budget proposal sent last week to Gov. George Allen, said Bud Oakey, a lobbyist for the Roanoke Regional Chamber of Commerce and other area chambers.

The governor has until March 27 to sign the spending plan, which would infuse $200,000 into each effort, Oakey said. Allen could instead make changes, which lawmakers would vote on April 5.

The New Century Council has spent11/2 years drafting a long-term economic strategy for the region; Beverly Fitzpatrick, its executive director, said the group needs $200,000, equal to an additional year's funding, to wrap up the effort.

Meanwhile, business leaders say the other $200,000 requested could help launch a real estate development, or incubator, to aid new and emerging companies.

by CNB