VirtualFranklinCountyVA.com

~ Company to create 69 jobs ~

RICHMOND – Governor Timothy M. Kaine today announced that Alpha Natural Resources will build its new corporate headquarters in Bristol, creating 69 jobs and retaining 131 jobs. This project comes as a result of the July 2009 merger of Alpha with Foundation Coal. Virginia successfully competed with Maryland and Tennessee for the project.

            “Alpha Natural Resources has had a solid presence in Virginia through its predecessor companies since the early 1900s, and I am glad to see them recommitting to business in the Commonwealth,” said Governor Kaine. “Alpha is among a growing list of corporations—including MeadWestvaco, Hilton Hotels, Volkswagen of America and SAIC—who have chosen to call the Commonwealth their home. I applaud the company’s growth, exemplified by its investment and job creation here in Virginia.”

Alpha has committed to invest approximately $17.5 million in its new headquarters facility through a lease-back agreement and an additional $3.5 million in other direct outlays. Located in Bristol’s new Sugar Hollow Business Complex, the building is expected to be ready for occupancy in mid-2011.

The company, through its affiliates, employs approximately 6,200 people and operates more than 60 mines and 14 coal preparation facilities in the regions of Northern and Central Appalachia and the Powder River Basin.

            Kevin Crutchfield, Alpha Natural Resources Chief Executive Officer, said, “We are very pleased to be able to retain our corporate headquarters in Southwest Virginia in the Sugar Hollow Business Complex, which was conceived and designed especially for this type of business use. The property is in a very attractive park-like setting and has easy Interstate access. A distinct advantage of the new location is its proximity to many of the company’s operations and its convenience for Alpha’s current corporate office work force.”

The Virginia Economic Development Partnership worked with the City of Bristol and Virginia’s aCorridor to secure the project for Virginia. Governor Kaine approved a $1 million grant from the Governor’s Opportunity Fund to assist Bristol with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $3.4 million in Tobacco Region Opportunity Funds for the project. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.

“We praise City Council’s decision to work with the Tennessee Valley Authority to allow the City the opportunity to develop the site as a major asset for the attraction of companies such as Alpha Natural Resources,” said Bristol Mayor Jim Rector. “It took diligence on the part of Council and the City Staff to make this an outstanding site for a company headquarters. We couldn’t be more pleased to have Alpha as the occupant of this property.”

“Hosting the new corporate headquarters of Alpha Natural Resources is an accomplishment for Southwest Virginia as a whole,” said Senator William Wampler, a Commissioner of The Virginia Tobacco Indemnification and Community Revitalization Commission. “I am proud of the role that the Tobacco Commission has been able to play in ensuring companies like Alpha thrive in the Commonwealth, and I am pleased we could offer assistance.”

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