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<br />M ~~~~,i~~v,iYe, <br /> <br />WHEREAS, the Commonwealth of Virginia has designated selected areas for economic <br />growth and revitalization under the Enterprise Zone program; and <br /> <br />WHEREAS, the Enterprise Zone designation continues to playa vital role in promoting the <br />expansion of existing firms as well as the location of new firms within Martinsville; and <br /> <br />WHEREAS, the Enterprise Zone incentives have significantly contributed to the City's <br />marketing efforts and helped create a number of jobs; and <br /> <br />WHEREAS, these efforts have helped offset the loss of jobs due to plant closures, <br />downsizing, modernization, global competition and economic downturns; and <br /> <br />WHEREAS, the Enterprise Zone Amendment will allow for the expansion of the Enterprise <br />Zone boundary, the deletion of two of the existing incentives and the implementation of two <br />