Virginia Biotechnology Research Park Plans Satellite Park in Chesterfield

First Local Economic Development Joint
Venture Entirely
Focused on Biosciences

Officials from the Virginia
Biotechnology Research Park and the County of Chesterfield
today announced a cooperative agreement to create a satellite
campus for the biotech park within a 1600-acre parcel
in the county near the banks of the James River.

The creation of the Virginia Biotechnology Research
Park at Meadowville will allow the county and the biotech
park to jointly market prospects for either site and elevate
biosciences in the Greater Richmond Metropolitan area. Located
just south of the Interstate 295 Varina-Enon Bridge and
15 miles from the downtown research park, the satellite
location, which will be part of the Meadowville Technology
Park, will have the capacity for approximately 2 million
square feet of combined office, laboratory and manufacturing
space.

“Today’s announcement with Chesterfield County
demonstrates that the Greater Richmond region is looking
to attract and grow biosciences companies,” said
Robert T. Skunda, president and chief executive officer
of the Richmond Biotechnology Research Park. “This
alliance will allow the biotech park and Chesterfield County
to work together to provide companies with facilities and
a location that suits their specific needs. It also
allows them to be part of a ‘scientific community’
dedicated to the unique requirements of this growing industry.”

Companies that locate to the new Chesterfield site will
have access to the distinctive needs of this industry, including
research collaboration with Virginia Commonwealth University.
“Ongoing research relationships with premier research
institutions is not uncommon, even for larger and more well-established
biotechnology companies,” said Dr. Eugene P. Trani,
president of VCU and chairman of the biotech park’s
authority and corporation boards. “Virginia Commonwealth
University’s recently announced $400 million life sciences
initiative will not only maintain our reputation as a center
of excellence in a number of research areas, but will position
VCU as one of the leaders in this important new industry
of the twenty-first century.”

Given Chesterfield County’s initial participation
in establishment of the park, this partnership is a step
in furthering the economic development initiatives for the
Greater Richmond area. Skunda and Chesterfield County officials
believe the expanded site options for companies looking
to have a relationship with the biotech park will help to
attract large-scale biotechnology, pharmaceutical and life
sciences companies to the Richmond area.

“We want to attract and retain biosciences companies
that will be the lifeblood of our future,” said
Renny Humphrey, chairman, Chesterfield County Board of Supervisors.
“This agreement clearly indicates our commitment
to promote high-quality development in Meadowville Technology
Park and to take a more active role in promoting this
vibrant industry.”

The boards of directors of the biotech park authority and
corporation approved a Memorandum of Understanding Dec.
5, 2000. The Chesterfield County Board of Supervisors will
address and vote on the MOU at their board meeting on Jan.
24. Partners identified in the MOU are the Virginia Biotechnology
Research Park, the Virginia Biotechnology Research Park
Authority, County of Chesterfield and the Industrial Development
Authority for the County of Chesterfield.

An online article from the Richmond-Times Dispatch about this announcement can be found here.

More information about the Meadowville Technology Park can be found on the web site www.Meadowville.com.