Our long-standing efforts to boost Southwest Virginia's economy are producing solid results. This year, the Giles County incubator, which became operational in 1997, received additional federal funding for business development purposes. I am now working to finance the construction of facilities conveniently located within the reach of every Southwest Virginian. Small business incubators enable start-up companies to share rent, the cost of utilities, the salaries of clerical help and the cost of office equipment such as fax machines or computers.
Job creation is stimulated when small businesses are launched in Southwest Virginia.
The development of industrial parks complements our excellent workforce, low costs of doing business and close proximity to major interstates and will attract to our region companies in search of new plant locations. Foreign Trade Zones enable American companies to be more competitive in international markets by increasing their efficiencies and decreasing their costs, and the presence of an international port of entry in the New River Valley will enable local businesses to participate more effectively and conveniently in the global marketplace. Similar councils in other areas of Virginia have undertaken successful efforts to enhance the business climate for technology-based companies located in their regions. Our Council will promote the interests and needs of the technology community. The Council s inaugural event took place in April, and I look forward to the increased economic progress in our region that I am confident will arise from the Council's activities.