FOR IMMEDIATE RELEASE
November 07, 2007

Gordon Hickey
www.governor.virginia.gov
804.225.4260


Eric Hansen
Innovative Wireless Technologies
434) 316-5230 ext. 26
Christie Miller
VEDP
(804) 545-5805
Governor Kaine Announces Innovative Wireless Technologies Expansion in Bedford County
-Local company expanding into industrial park, creating 50 new jobs -


RICHMOND - Governor Timothy M. Kaine today announced that Innovative Wireless Technologies (IWT), a designer of wireless technologies, will invest $5.6 million to locate in the New London Office Park in Bedford County. The project will support IWT’s planned business growth, creating 50 new engineering and professional jobs over the next several years. Virginia successfully competed with North Carolina and Pennsylvania for the project.

“I’m happy to announce that Innovative Wireless Technologies will continue to build on the success the company is experiencing in Bedford County,” said Governor Kaine. “This homegrown company has outgrown its current facility in Forest and will be the New London Office Park’s first official tenant.”

Formed in 1997 and headquartered in Forest, Virginia, IWT has expanded to include additional offices in the Northern Virginia and Boston areas, with a semiconductor design center in Reading, Pennsylvania. IWT's products for wireless sensor networks are developed for, deployed in, and meet the needs of commercial, public safety and military operations. The company plans to be fully operational at the new facility in about nine months.

“IWT is pleased to announce our continued expansion and success in Virginia,” said Eric Hansen, CEO. “Our new high-tech campus will support our growth needs for the future. I want to thank our local, state and federal supporters for their assistance as we look forward to a bright future in the Commonwealth.”

The Virginia Economic Development Partnership worked with Bedford County and Region 2000 to secure the project for Virginia. Governor Kaine approved $150,000 from the Governor’s Opportunity Fund to assist Bedford County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $100,000 in Tobacco Region Opportunity Funds to support the project. The Virginia Department of Business Assistance will provide training and training assistance through the Virginia Jobs Investment Program.

“We are very happy that IWT is doing so well and is expanding so rapidly,” said Chuck Neudorfer, Chairman of the Bedford County Board of Supervisors. “We are especially pleased that the company recognized Bedford’s favorable business climate and chose to be the first corporate tenant of our New London Business and Technology Center. IWT is the kind of company that every locality is delighted to welcome.”

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