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February 12, 2005 <br /> <br />WHEREAS, while these efforts show enormous promise, more <br />must be done. Virginia needs to adopt new approaches to rural <br />economic development; and, <br />WHEREAS, we must draw on the strengths of existing industries <br />and community assets, and help prepare workers for the <br />competitive challenges of the future. <br />AND WHEREAS, Governor Warner has proposed a rural economic <br />development initiative, called Virginia Works, involving Support for <br />Existing Industry, a Significant Regional Project Fund, a Tourism <br />component, Advanced Manufacturing initiatives, a Specialty <br />Agriculture program, a Virginia Community Development Bank, <br />more effective use of Federal New Market Tax Credits, and New <br />Site Redevelopment Funding; now, therefore <br />BE IT RESOLVED THAT Virginia Works represents this new <br />approach to economic development. It is a series of carefully <br />targeting investments totaling $20.86 million that will create new <br />jobs and build the foundation for a stronger future in our rural <br />communities. <br />AND BE IT FURTHER RESOLVED by the Council of the City of <br />Martinsville, Virginia, assembled February 12, 2005, that it does <br />hereby requests the General Assembly to appropriate the $20.86 <br />million needed for the Virginia Works program. <br /> <br />There being ho further business to come before Council during their summit <br /> <br />meeting, upon motion by Council Member Clark, duly seconded, by unanimous vote, <br /> <br />Mayor Cobbe declared the meeting adjourned at 2:45 P. M. <br /> <br />Johnathan B. Phillips Joseph R. Cobbe <br />Clerk of Council Mayor <br /> <br /> <br />