August 18, 2005

Kevin Hall
(804) 225-4260

Jim Belcher
Clinch River Forest Products
(276) 928-1221
Christie Collins
(804) 371-4074
-Clinch River Forest Products, Inc. to invest $4.35 million in new facility-

RICHMOND - Governor Mark R. Warner today announced that Clinch River Forest Products, Inc., will invest $4.35 million to build a new facility in Tazewell County, creating 102 new jobs. The company will build and operate a high-yield, high-technology lumber mill. Virginia successfully competed against West Virginia for the project.

“Clinch River Forest Products’ decision to locate this new facility in Tazewell County is exciting news,” said Governor Warner. “This project is a perfect complement to the growing cluster of wood product industries in Southwest Virginia. It is especially gratifying to see local entrepreneurs reinvest in their community.”

Headquartered in Tazewell County, Clinch River Forest Products is a privately held corporation founded by four experienced sawmill owners and timber growers from Southwest Virginia. The company will process timber harvested in Tazewell and surrounding counties using new technology that removes less sawdust in the manufacturing process, thereby increasing the yield from each log sawed.

“Clinch River Forest Products is grateful to the Governor’s office, The Board of Supervisors and the people of Tazewell for making it possible for our company to locate in Tazewell County,” said Rick Stevens, General Manager, Clinch River Forest Products. “The decision to locate in Virginia rather than West Virginia is due to Virginia’s pro-business climate and Governor Warner’s success in achieving fiscal stability and tax reform for the Commonwealth. We are proud to be a part of Southwest Virginia’s strong economy and look forward to many years of continuing in this fine tradition.”

The Virginia Economic Development Partnership worked with Tazewell County and the Virginia Coalfield Economic Development Authority to secure the project for Virginia. Governor Warner approved a $150,000 grant from the Governor’s Opportunity Fund to assist Tazewell County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $200,000 in Tobacco Region Opportunity Funds for the project. The Virginia Department of Business Assistance will provide training assistance through its Workforce Services Program.

“On behalf of the Tazewell County Board of Supervisors we welcome Clinch River Forest Products, Inc. as the newest member of our business community,” said Donnie Lowe, Chairman of the Tazewell County Board of Supervisors. “Clinch River Forest Products, Inc. brings an experienced management team with a proven efficient wood processing procedure that leaves little or no waste. We are excited about the creation of 102 jobs and many additional indirect jobs. Tazewell County looks forward to a long and successful partnership with Clinch River Forest Products, Inc. and appreciates the support of all local, regional and state entities that have successfully brought this project to fruition.”


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