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2001 Session

Budget Amendments - SB800 (Committee Approved)

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New River Valley Center of Excellence (language only)

Item 548 #5s

Item 548 #5s

Central Appropriations
Central Appropriations

Language
Page 484, after line 36, insert:
"9.  Out of this appropriation, $5,000,000 the first year shall be transferred to the Pulaski County Industrial Development Authority in satisfaction of the Commonwealth's commitment, by Memorandum of Understanding executed by the Governor on October 21, 1999, to fund construction and development costs for the New River Valley Center of Excellence for worker training and retraining."


Explanation
(This amendment provides $5.0 million from the Governor's Development Opportunity Fund for the state's share of the construction and development costs for the New River Valley Center of Excellence to be located on the grounds of the VolvoTrucks North America, Inc., and operated in conjunction with the New River Valley Community College. Virginia committed to this funding in an October 21, 1999, MOU between the Governor and Volvo, as part of a package of state and local incentives for a major expansion of Volvo's truck manufacturing facility in Pulaski County.)