MARION, VA  - August 18, 2003 ? Despite a downturn in the economy, Virginia?s aCorridor region in southwest Virginia reports 900 new jobs and companies investing more than $160 million since July 2002. And, a recent announcement by Virginia?s governor could could promote one existing industry in the economic development efforts for the aCorridor.

?With Governor Warner?s announcement last week of the Virginia Motorsports Initiative, we foresee expanding on the rich racing tradition in this area to give our economic development efforts a boost,? said Andy Hall, executive director of Virginia?s aCorridor (?a? for access to markets, transportation and technology), a region that stretches along I-81 from Bristol to Galax.

Gov. Mark Warner announced the Virginia Motorsports Initiative, a plan to promote the sport through a coalition of racing companies working with tourism organizations and economic development groups to bring more business into Virginia.  

?Our new initiative will build on these existing assets to promote the growth of the motorsports industry and racing venues. Our aim is to attract and grow in Virginia a dynamic motorsports industry that sees the Commonwealth as the preferred location for engine builders, component makers, race car teams, and other businesses in the fast growing motor sports world,? the Governor said in an Aug. 13 release.

?We have the successful Kodak-sponsored Morgan McClure racing team, that is also a regional existing industry, located in the aCorridor. And of course, our proximity to Bristol Motor Speedway is one of the quality of life perks we use when talking with companies that are considering locating here,? said Hall.

Hall told the aCorridor?s board of directors at its recent annual organizational meeting the region landed five new projects and hosted 21 prospect visits in the last fiscal year.

 ?When you look back over the fiscal year and see how many visits we have had to the region and the successes, it is very encouraging for a regional marketing organization like Virginia?s aCorridor during these tough economic times,? said Hall.

 ?We have several more prospect visits planned in the next several months, some repeat visits, where the companies are narrowing their choices for relocation,? said Hall.

Hall said the first industry to announce was Brewer Automotive Components, Inc., a Maine-based manufacturer of automotive steering rack ends using high-tech machinery, in July of last year in Wythe County?s Progress Park. Also in 2002, a $1.2 million project making berets for the U.S. military was announced in Glade Spring, followed by Pepsi Bottling Company?s announcement of a $65 million plant in Wytheville that will employ 200.

Two more announcements for Virginia?s aCorridor came in the first quarter of 2003. Through Congressman Rich Boucher?s efforts, Hall said, Harvest Pharmaceuticals announced a $3 million call center/distribution facility in Independence in Grayson County that will employ 30. AFG Industries announced in March its plans to construct a $30 million plant in the Oak Park Center for Business and Industry in Washington County that will employ 70.

Hall said Virginia?s aCorridor continues to ?proactively market? the region that includes the City of Bristol, the City of Galax, and Washington, Smyth, Wythe, Grayson and Carroll counties.

?Marketing a region that is as diverse as the aCorridor is sometimes difficult, but we have worked to redefine the area?s attributes and to use that information to market to site consultants and target industries,? said Hall. ?Starting with what we are calling the region ? Virginia?s aCorridor ? with the emphasis on the ?a? for access, we are capitalizing on our location along I-81 and I-77.?

Virginia?s aCorridor will launch an ?information-rich? web site (www.acorridor.com) this fall, according to Hall. ?We have designed and written this site keeping in mind the needs of site consultants and companies looking for data on the region. There will be tons of information on the workforce, training, and other data available in downloadable form.?

Suzanne Jennings, a member of the Smyth County Board of Supervisors, was elected chairman of the aCorridor?s board of directors at the annual meeting. She replaces outgoing chairman Danny Jessee, manager of customer services for Bristol Virginia Utilities, who represented Bristol City Council on the board of directors.

Two new members to the board of directors include Cindy Rudy, Chief Financial Officer of Nautilus in Independence, and Eric Clark, director of Bristol?s Boys and Girls Club, who will represent the City of Bristol.

BACKGROUND:

Virginia?s aCorridor is a region of southwest Virgnia that represents a population of nearly 200,000 along I-81 and I-77 from Bristol to Galax.  The Mount Rogers Development Partnership Inc. was created in 1989 as a regional marketing organization that promotes and markets Virginia?s aCorridor.

The marketing group is financed by a $1 per capita assessment in the represented counties and cities plus private funding. The  Partnership is designed to combine the resources of the area to market the region. The goal is to consolidate marketing into one agency so individual localities will not have to duplicate spending on marketing resources. The Partnership  works with local governments to enhance their economic development programs.

Virginia?s aCorridor includes a board of directors with government directors representing the boards of supervisors, city councils and industrial development authorities of the region, and private industry representatives.