| Henry County, Martinsville get help for business park
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Virginia Business
July
2004
Henry County and Martinsville will receive
grants totaling nearly $3 million to help with site
preparation in the Patriot Centre, according to officials
with the U.S. Department
of Commerce and the Virginia Department of Housing and
Community Development.
The money will be used to develop five
lots, totaling 68 acres, in the Patriot Center business
park in Henry County. The county and the city have agreed
to jointly develop a total of 239 acres in the Patriot
Center and share revenue gained from businesses locating
there.
“This project is important to
everyone in Henry County and the city of Martinsville,”
says County Administrator Benny Summerlin. “When
these lots are developed we will be able to market them
to a variety of industries and businesses. That will
help us diversify our economic base. And with the revenue
sharing program in place, both Henry County and the
city of Martinsville will reap the benefits.”
The Department of Commerce will provide
$1.5 million of the project’s $3.57 million total
cost. Virginia’s housing and community development
department will provide a $1.37 million grant. Henry
County will provide $464,333 toward the project, with
most of that money coming from the county’s two
most recent allotments from the state’s tobacco
commission. Martinsville’s share of the local
match is $232,167.
Return to Virginia Business - July 2004
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