ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, August 13, 1996 TAG: 9608130077
SECTION: VIRGINIA PAGE: C-1 EDITION: NEW RIVER VALLEY
DATELINE: FAIRLAWN
SOURCE: PAUL DELLINGER STAFF WRITER
MEMO: NOTE: Shorter version ran in Metro edition.
The Appalachian Regional Commission has approved a $500,000 grant for Pulaski County to further develop a former AT&T plant site as an industrial park, Rep. Rick Boucher, D-Abingdon, said Monday.
The money will go toward installing new water and sewer lines in New River Industrial Park, where AT&T operated a manufacturing plant for 10 years. It closed the plant in 1990, costing the region 1,000 jobs.
In 1992, the Radford-based New River Industries bought the AT&T building and about 80 acres around it for use as a textile plant. Early in 1993, Pulaski County purchased the remaining 650 acres of the AT&T property for $1.3million as an industrial park.
"This grant will enable Pulaski County to utilize the industrial space it purchased from the AT&T Corporation," Boucher said. "With these funds, an infrastructure of water and sewer can be put in place for the attraction of new industry to Pulaski County."
The funds will pay for 6,800 feet of water line, a 750,000-gallon water storage tank, seven fire hydrants, 2,410 feet of gravity sewer line and 11 manholes.
This will open up 280 acres in the industrial park for development.
One reason the Pulaski County Board of Supervisors decided to buy the 650 acres, instead of leaving them with AT&T, was that local governments can qualify for funds of this kind and a private company could not.
The industrial park has also been designated by the state as an enterprise zone, which means a company locating there could get a 60 percent cut in its state income tax obligations for 10 years, grants of $1,500 for each new employee, and other state and local incentives.
An earlier $500,000 ARC grant was approved toward a New River Valley Planning District Commission project to build an economic competitiveness center at the site, including a business incubator and offices for agencies to help new companies.
Originally, AT&T was asking more than $14million for the entire site. Pulaski County officials met several times with their counterparts in Montgomery County and Radford to discuss a joint purchase of the property as an industrial park.
Nothing came of those discussions and, after New River Industries bought the building and 80 acres of the site, Pulaski County was able to buy the rest at a better price.
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