Adopted Budget - Bedford County, Virginia

8151 REVENUE SHARINGDEPARTMENT DESCRIPTIONBedford County and the City of Bedford partner in a revenue sharing agreement calledthe Joint Economic Development and Growth Sharing Agreement. The agreementincludes the development of a jointly owned 110-acre industrial park within the City; thedesignation of four economic development areas located in the County adjacent to theCity for which water and sewer will be made available to enhance commercial andindustrial development; and development of a long range plan to address water and sewerneeds in the central part of Bedford County.The County and City share equally all local taxes on real estate, personal property;machinery and tools, merchant’s capital, sales and use taxes; all business, professionaland occupational taxation; and any other taxes generated from the joint industrial park orthe economic development zones.