In 2024, the Bedford County Office of Economic Development received $1.5 million from Governor Glenn Youngkin’s Virginia Business Ready Sites Program and a $750 thousand grant from the Tobacco Commission.

The funds will be used to further site development in the New London Business and Technology Center. The plans involve clearing two sites (Lots 15 and 16, see map on right) and continuing the Meade Road gravel extension, along with implementing stormwater, sewer and underground utilities as funding permits. Learn more on the Bedford County Economic Development website.

This expansion is impacting the New London Tech Disc Golf Course. Staff will relocate nine of the holes from March-May 2025.

Approximate Timeline

• Aug. 2024—VBRSP grant received
• Sept. 2024—Tobacco Commission grant received
• Oct. 2024—Supervisors approve $400 thousand in funding
• June 2025—Construction begins on the expansion of the industrial park
• Dec. 2025—Deadline to complete industrial park expansion per grant guidelines

Funding for Large Construction Projects

The primary goal of a capital improvement plan (CIP) is to strategically allocate resources for long-term capital projects, ensuring that infrastructure and facilities are maintained, upgraded, and expanded to meet the evolving needs of the community or organization. These larger projects are found in the CIP and are funded through the capital budget, versus the operating budget. Government bodies, including Bedford County, plan and save for these projects for several years.

You can view the 2025-2029 CIP here. It’s important to note that funding is only appropriated for year one of the CIP. Projects in years two through five are subject to change. 

Media Coverage

• Bedford County approves $400,000 for Business Center Expansion - WSET, Oct. 17, 2024
• Bedford County to move forward with industrial park expansion - WDBJ, Sept. 1, 2024
• Bedford County awarded $1.5 million from Virginia Business Ready Sites Program - Aug. 9, 2024