RD78 - Virginia Coalfield Economic Development Authority 2004 Annual Report


Executive Summary:
Dear Governor Warner,

We are pleased to submit to you and the General Assembly the 2004 Annual Report of the Virginia Coalfield Economic Development Authority. Highlighting the year was your personal commitment to and participation in announcements and events illustrated in this report.

VCEDA approved three loans and eight grants totaling more than $2.2 million. New announcements in the region, including AOL/Virtus Marketing in Norton, Blue Ridge Wood Products in Bluefield, Southwest Logistics in Wise and Midpaco in Duffield, will create nearly 500 new jobs with a $7.3 million investment. Also, 10 expansions in the region this year will create more than 500 jobs and invest $9.8 million into our local economy.

We appreciate your leadership and support along with that of the General Assembly. While we continue to make progress, there is still much work to be done in Virginia's Energy Region. We pledge to strive together with you and the General Assembly to improve the economic prosperity of our region and the commonwealth.

Sincerely
Donald Baker, Chairman