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NRV area projects offer hope

While the downturn in the economy has certainly slowed prospects for economic development, the New River Valley Alliance still has a number of “active” projects in the works.
Alliance Executive Director Aric Bopp said active projects are essentially companies who are looking to either relocate or expand anywhere in the nation or world. The are projects the Alliance is in the process of trying to recruit.
Active projects currently in the works equate to about $1 billion in capital investments and hundreds of jobs, according to Bopp. However, he declined to speculate on how many of those projects have a high potential of being landed for the New River Valley.
Bopp said he never likes to speculate because there are so many variables that can change. For example, he noted a prospect could be close to sealing a deal to locate or expand in this area and then one change in the economic markets could bring the project to a halt.
In any given year, he noted, there are 75 to 100 active projects in the works.
He said the process of recruiting companies to the area is a “long drawn out” process that is constantly changing.
Among the projects currently in the Alliance’s “pipeline” are 10 new nanotechnology companies that have been identified through research funded as part of the Virginia Nanotechnology Park initiative.
While most of the nanotechnology companies are “relatively small” Bopp said they all have “the same expectation for tremendous growth in the coming years.”
The Alliance, area localities and other economic development organizations are seeking to focus the New River Valley – in particular the Commerce Park off Route 100 – into a nanotechnology center.
There already are seven nanotechnology businesses in the New River Valley.
The New River Valley also offers nanotechnology businesses a wealth of support services.
More information on the nanotechnology initiative is available at www.nrva.us/put_it_all_together/for_your_industry/nano.html.

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NRV area projects offer hope

While the downturn in the economy has certainly slowed prospects for economic development, the New River Valley Alliance still has a number of “active” projects in the works.
Alliance Executive Director Aric Bopp said active projects are essentially companies who are looking to either relocate or expand anywhere in the nation or world. The are projects the Alliance is in the process of trying to recruit.
Active projects currently in the works equate to about $1 billion in capital investments and hundreds of jobs, according to Bopp. However, he declined to speculate on how many of those projects have a high potential of being landed for the New River Valley.
Bopp said he never likes to speculate because there are so many variables that can change. For example, he noted a prospect could be close to sealing a deal to locate or expand in this area and then one change in the economic markets could bring the project to a halt.
In any given year, he noted, there are 75 to 100 active projects in the works.
He said the process of recruiting companies to the area is a “long drawn out” process that is constantly changing.
Among the projects currently in the Alliance’s “pipeline” are 10 new nanotechnology companies that have been identified through research funded as part of the Virginia Nanotechnology Park initiative.
While most of the nanotechnology companies are “relatively small” Bopp said they all have “the same expectation for tremendous growth in the coming years.”
The Alliance, area localities and other economic development organizations are seeking to focus the New River Valley – in particular the Commerce Park off Route 100 – into a nanotechnology center.
There already are seven nanotechnology businesses in the New River Valley.
The New River Valley also offers nanotechnology businesses a wealth of support services.
More information on the nanotechnology initiative is available at www.nrva.us/put_it_all_together/for_your_industry/nano.html.

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