The regional authority at the center of a controversial development deal in the Roanoke Valley is no longer under a non-disclosure agreement. But the Western Virginia Regional Industrial Facility Authority is still keeping mum about the potential data center developer.
In a statement Tuesday, the authority’s executive director says local partners have a “ethical obligation” to protect information about the project, including its corporate parent company.
Last month, Clearview Dynamics entered into an agreement for a parcel at the Wood Haven Technology Park in Roanoke County.
The authority said it will not divulge Clearview’s corporate parent while it’s still determining the feasibility of the project. It expects to release more information in the next few months.
Here is the complete statement from WVRIFA:
Western Virginia Regional Industrial Facility Authority (WVRIFA) has been released from its nondisclosure agreement with Clearview Dynamics, following a request from WVRIFA.
While the NDA has been lifted, WVRIFA and its local partners have an ethical obligation to protect project information, including the identity of Clearview Dynamics’ corporate parent. This ethical obligation is a foundation of successful economic development and is a tenet recognized in the International Economic Development Council’s code of ethics.
Clearview Dynamics is conducting due diligence to determine the basic feasibility of its project. Due diligence is designed to answer questions and validate information before decisions are finalized. Maintaining confidentiality surrounding the parent company ensures all parties can provide accurate, fact-based information at the appropriate time, rather than reacting to assumptions that may not reflect the full picture.
Communities and regions that fail to maintain the trust of potential transacting partners face incredible reputational risk as well as the loss of future opportunities. Companies must be afforded an appropriate amount of time to evaluate the market and its real estate/infrastructure solutions for projects to be successful.
Clearview Dynamics and WVRIFA reaffirm a commitment to the utmost and highest degree of transparency possible and will provide future updates at appropriate junctures as the project develops. Additional updates with project specifics are expected within 120 days.
