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WINSTON-SALEM, N.C., Dec. 16 /PRNewswire/ -- R.J. Reynolds Tobacco Company
(R.J. Reynolds) and Piedmont Triad Research Park (PTRP) today announced that
R.J. Reynolds has completed the donation of 16 acres of property in downtown
Winston-Salem to PTRP. The grant includes 10 acres that R.J. Reynolds
originally agreed to donate in 2002 as well as six additional acres of
buildings and property.
The land being donated includes the original agreed-upon donation located
on Vine Street, between Fourth and Seventh Streets, including two buildings,
as well as a company parking lot located on the corner of Seventh and Linden
Streets. The six-acre additional donation includes a building on the corner of
Fifth Street and Patterson Avenue, as well as two company parking lots located
on Seventh Street and Patterson Avenue. The donated property is currently not
used by the company.
The assessed value of the property is $12.4 million.
"R.J. Reynolds has long been committed to local economic development,"
said Susan Ivey, chairman and chief executive officer of R.J. Reynolds Tobacco
Company and chief executive officer of Reynolds American Inc. "This donation
will allow PTRP to move closer to realizing its vision of creating a vibrant
life-sciences research and product development complex in downtown Winston-
Salem, providing additional job opportunities and increasing our local
economic base."
R.J. Reynolds has also committed to donate to PTRP an additional 22 acres
of land and property downtown at a future date to be determined. These
properties are currently in use by R.J. Reynolds. A date for the future
donation will be determined based on PTRPs needs for further expansion, as
well as the operational needs of R.J. Reynolds.
The companys downtown headquarters complex is not included the donations.
"This significant gift is a tremendous boost to the long-term development
of the Park," said Dr. Christopher H. Price, executive director of PTRP. "We
appreciate the generosity of R.J. Reynolds in giving back to the community by
providing PTRP assets on which to grow the Park and to attract new businesses
into our area. We will now begin the process of formal studies of the
buildings and associated land to determine the potential utility of the
property within the Master Plan of the Park."
R.J. Reynolds Tobacco Company, an indirect subsidiary of Reynolds American
Inc. (NYSE: RAI), is the second-largest tobacco company in the United States,
manufacturing about one of every three cigarettes sold in the country. The
companys brands include five of the 10 best-selling U.S. cigarette brands:
Camel, Kool, Winston, Salem and Doral. For more information, visit
http://www.RJRT.com.
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