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Smyth County and the City of Lynchburg in fostering the growth of their existing . <br />industries. <br /> <br />Significant Regional Project Fund. In many paras of Virginia, the potential <br />closing of a key business could have devastating effects on an entire region. <br />Virginia Works proposes a new tool to allow the Governor to provide one-time <br />assistance, with the concurrence of a board of executive and legislative <br />appointees, of up to $5 million to help a major regional employer push through <br />difficult times and prevent the blow to the community that may have otherwise <br />occurred. In addition to assisting existing businesses, the Governor may also use <br />this fund, with the consent of the board, to recruit economic development <br />prospects that would have an extraordinary impact on distressed communities. <br /> <br />Virginia Works for New Business: Building on Our Assets <br /> <br /> Governor Warner believes that economic development programs must - in <br />addition to attracting new industries - give greater emphasis to the often-untapped assets <br />of rural Virginia. We need to recognize our existing strengths and use them to create new <br />jobs and opportunities for citizens in rural areas. In addition to increasing the Governor's <br />Opportunity Fund by $2 million, Virginia Works does this in three principal areas: <br /> <br />Tourism. In 2003, tourism in Virginia had an economic impact of $15.2 billion, <br />which represents 5.1 percent of the Gross State Product and 280,700 full time <br />jobs. Virginia's success in tourism is attributable to the Commonwealth's natural <br />beauty, vast historical resources and close proximity to major population centers <br />along the east coast. To build on this impressive foundation, Virginia Works <br />proposes to invest $3 million in a new network of rails to trails across Southside <br />Virginia; $375,000 for the New Virginia Trails program, which will link and <br />better promote existing tourist destinations; and $397,500 for technical assistance <br />to communities that want to develop their tourism industries. <br /> <br />In addition, Virginia Works includes an exciting new initiative to promote the <br />sale and marketing of hand-made Virginia crafts. The Virginia Artisans Initiative <br />will establish two retail centers in Western Virginia for the sale of local crafts; <br />establish a marketing support network for Virginia artisans; establish new <br />educational programs for Virginia artisans; and paRaner with the Virginia <br />Coalfields Economic Development Authority to develop an aRaisan production <br />facility in that region. The initial cost of the Virginia Artisan Initiative is $4.97 <br />million. The states of Kentucky, West Virginia and North Carolina have <br />successfully launched similar programs. <br /> <br />Advanced Manufacturing. In Virginia, advanced manufacturing is more <br />concentrated in rural areas than other parts of the state. To build on that strength, <br />Virginia Works will develop several new advanced manufacturing initiatives <br />around Virginia that hold the promise of new jobs in rural areas. Virginia Works <br />invests new resources in these initiatives, including $379,000 to launch an <br />Advanced Manufacturing/Packaging program at Dabney Lancaster Community <br /> <br />2 <br /> <br /> <br />