$250,000 COMMUNITY GRANT DESIGNATED FOR ECONOMIC DEVELOPMENT
Tobacco Commission Provides Funds for Western Franklin County Revitalization

July 22, 2003

     The village of Ferrum, Virginia, will receive a significant boost to its economy thanks to a $250,000 grant recently awarded by the Virginia Tobacco Indemnification and Community Revitalization Commission. Through a grant to the Blue Ridge Foundation, Franklin County and Ferrum College will partner with citizens of Ferrum to revitalize and expand the community through new commercial, retail, residential, and recreational opportunities. Ferrum College will augment the grant with an additional $50,000 from a gift to the College. The funds will be used to create engineering surveys, architectural themes and standards, and marketing materials that will help encourage investment from private partners.

     According to Senator Charles R. Hawkins, the Tobacco Commission chairman whose Congressional district includes Franklin County, “This economic partnership with the Blue Ridge Foundation, Ferrum College, Franklin County, and the Virginia Tobacco Commission allows us to build a stronger economic base for Franklin as well as surrounding counties.”

     Delegate Allen W. Dudley, who championed the grant proposal before the Tobacco Commission’s Economic Development Committee, agreed with Sen. Hawkins’ assessment. “This grant represents a significant step forward in the process of ensuring the continued growth and vitality of Ferrum College and the western section of Franklin County,” he said. “I commend the partnership approach taken by our Franklin County officials, Ferrum College and the Blue Ridge Foundation in this effort.”

     A 1995 study commissioned by the Franklin County Board of Supervisors indicated that the Ferrum area is poised for economic growth. In 1998, a proposed community development plan received widespread, favorable public input. These studies recognized that Ferrum College, as one of the County’s top five economic engines, can help draw businesses to the area. Since the 1998 study was completed, the County, Ferrum College, and the Ferrum Water & Sewer Authority have invested approximately $6.8 million in local, state, and federal dollars for planning and infrastructure improvements in the area.

     “ Ferrum College has been and will continue to be a prominent player in our community and especially within the village of Ferrum,” said Franklin County Administrator Rick Huff. “This project will stimulate economic development in and around the college, including the county-owned West Franklin Industrial Park. It will be a significant boost to the economy and job creation capabilities for western Franklin County.”

     Ferrum College President Dr. Jennifer L. Braaten said the composition of the Blue Ridge Foundation Board of Directors will be expanded to include citizen representatives from the Ferrum area to ensure that future growth will be supported by community residents. Dr. Braaten stated that, “Ferrum College has always enjoyed a strong working relationship with Franklin County and the local community. We are committed to the idea of partnering with our neighbors to envision, collaborate, and create an enhanced quality of life for all in western Franklin County.”

     Ferrum College is a four-year, private, co-educational, liberal arts college affiliated with the United Methodist Church. Ferrum offers a choice of nationally recognized bachelor’s degree programs at a cost well below the national average for private colleges. For more information on Ferrum, visit www.ferrum.edu. # # #