Further development of Phase 2 in the New London Business and Technology Center

(Bedford, VA)—The Bedford County Office of Economic Development is excited to announce the award of $1,500,000 from Governor Glenn Youngkin’s Virginia Business Ready Sites Program (VBRSP).

According to Bedford County Director of Economic Development Pam Armstrong, the funds, which require a match, will be used to further site development in the New London Business and Technology Center. The plans involve clearing two sites and continuing the Meade Road gravel extension, along with implementing stormwater, sewer and underground utilities as funding permits.

“This project will further develop the Phase 2 section of the New London Tech Center and advance the site from a Tier 3 to a Tier 4 level,” said Armstrong.

The VBRSP evaluates land in a tiered system, with Tier 1 defined as an identified site that’s raw land and Tier 5 defined as a pad-ready site with infrastructure improvements either complete or close to completion.

Armstrong added: “This top tier is the most attractive to companies and developers who want to build, but don’t want to wait the additional time it takes to get a site pad-ready, which can add several months to a building project.” Last year, Bedford County was awarded $63,750 for the required engineering studies and reports to advance the site from a Tier 2 to a Tier 3.

“Businesses in the current climate are looking to move quickly and it’s imperative that we are competitive in attracting companies to Bedford County,” said Wyatt Walton, Chairman of the Bedford County Economic Development Authority. “When companies are looking for a site, it’s more of an elimination process than a selection process. If you don’t have inventory, companies go elsewhere. This funding will further our mission and strategy of attracting new economic opportunity to Bedford County in our primary focus areas of manufacturing, new business, and technology-based projects.”

Charla Bansley, Supervisor for District 3 where the New London Business & Technology Center is located, emphasized the importance of business attraction to the County. Bansley stated, “Bedford County and the New London area of Forest is a desirable destination for businesses with direct access to U.S. 460. Over the past 20 years significant investments have been made in developing this property and the County is grateful to the Virginia Economic Development Partnership in helping us further our mission of more jobs and less taxes.”

The contingency in using these awarded funds lies in another grant the County is hoping to receive from the Tobacco Region Revitalization Commission (TRRC). The County has a grant request currently under consideration from the TRRC to be used as a partial match for the project.

Other funding sources to make up the match balance include funds as set aside from the Capital Improvement Plan (CIP) budget, as well as the Bedford County EDA. Additionally, Bedford County received a Virginia Department of Transportation grant for engineering work for Meade Road improvements and the extension project. The TRRC awards will be announced in September.

Located off Route 460 approximately 13 miles west of the City of Lynchburg, the New London Business and Technology Center is a 500-acre development owned by the EDA. Although the park’s focus is technology, a wide variety of business uses are welcome. The park is home to Simplimatic Automation, RA Tools, Vagus LLC, Damage Prevention Solutions, Belvac Production Machinery, and Liberty University’s 28-acre Tech campus.

To learn more about the New London Business and Technology Center, visit the Bedford County Office of Economic Development website.