ADVANTAGE VALLEY FORMS JOINT VENTURE PARTNERSHIP

April 10, 2002 -- Governor Bob Wise announced the formation of Advantage Valley Partners LLC, a new economic development initiative in West Virginia in a ceremony this afternoon. The new partnership, spearheaded by Advantage Valley, Inc. was formed as a result of legislation passed last year by the West Virginia legislature, Senate Bill 530. This new legislation allows counties to work together on economic development projects, sharing expenses and revenue generated by the project.

In the photo (left) PCDA's Executive Director Gary Walton takes a turn signing the joint venture agreement. Looking on during the signing ceremony (left to right) is Wanda Davis, Kanawha County's representative, Governor Bob Wise, House of Delegate member Jody Smyrl of Cabell County, Tom Potter, Co-Chair of Advantage Valley, and Senator Oshel Craigo (D-Putnam). (photo by Gayle Vest, Managing Director, Advantage Valley)

Signing of the official agreement to form the limited liability corporation, an entity supported by five County Commissions and their respective development authorities, "Advantage Valley Partners, LLC" were Vickie Shaffer, Cabell County, Wilma Davis, Kanawha County, Bryan Stepp, Mason County; Gary Walton, Putnam County; and Robert Trocin, Wayne County.

The partners plan to develop the 45 acre parcel located at the Hurricane I-64 exit purchased in February by the Putnam County Development Authority. The West Virginia Lottery Commission has expressed an interest in relocating to the property. According to Walton, "we expect that the new Advantage Valley Business Park could be subdivided into five or six lots depending on the size requirements of other prospective tenants. "

Site development activities is the first step that will be taken by the partners. Engineering firms will be interviewed beginning Friday for the design of the park . The partners are seeking other companies who might be interested in locating in the new business park. Property specifications will be listed on the state's web site http://www.wvdo.org as well as on other development organization web sites such as Putnam County Development Authority at http://www.pcda.org.