Dear Governor McAuliffe,

Thank you for the kind introduction and for allowing me to play a small part in
these efforts, building upon Virginias proud natural resource history and
business friendly environment.
I am Brent Fults, the founder of the Chesapeake Bay Nutrient Land Trust.
Let me try and explain to you in the next few minutes, how private investment
in this program works, and why myself and other investors have risked millions
of dollars to create nutrient credits.
I am a firm believer in innovation, and I believe that nutrient trading will help
us protect the environment and do so in a more cost-effective manner.
Nutrient trading takes private dollars and applies them towards
conservation efforts that make the most sense for the environment and the
farm.
This creative partnership between farmers and private investors has formed a
bridge that affords Virginia the ability to grow in a smarter way and achieve
public benefits in water quality.
I call this "Public Benefits thru Private Investment"
This Innovation is so strong, that it creates a legacy opportunity for
farmers.
What we did on Mr. Harrisons farmand on other lands throughout Virginia
was to take a portion of his land the land which was least productive (subprime land) and create a land use that was compatible with Stewardship.
What once was a contributor of nutrient loads to the bay, now provides
nutrient removal qualities, implemented thru a healthy active forest.
These nutrient credits, tied to the land in PERPETUITY [emphasize this
word], generate natural buffers, wildlife habitat, and improved water quality

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This Nutrient Trading program broadly supports agriculture, ranching, and

active healthy forests all in one program.
Mr. Harrisons farm today is still a working farm because of this innovative
approach and private investment. [VERY IMPORTANT POINT] In addition, this
program creates opportunity to preserve open space so dear to Virginia.
It is important to highlight one critical aspect of Virginias program.
Nutrient credits are CERTIFIED and regulated by the State, and the
Department of Environmental Quality
Making this program verifiable, highly accountable, transparent and
enforceable. Those aspects are critical for such a program to be embraced by
the public.
As a Virginian, I am proud to say that the Commonwealth has embraced
this approach and my personal efforts.
As you heard from the Governor, Virginia is realizing many benefits.
Virginias support of nutrient credits has resulted in continued economic
growth, and advancement of transportation infrastructure in a costeffective manner, resulting in cleaner rivers and streams.
As a environmental investor partnerships between public and private
stakeholders can be the foundation for 10's of millions of dollars of additional
private investments in our Chesapeake Bay restoration efforts.
Our Industry has a long legacy of innovation, stewardship, and are proud to
continue our efforts to help the Commonwealth meet its natural resource goals.
Lastly without support of our federal partners and EPA's strong support of this
approach under Gina McCarthy as head of EPA, this on-the-ground
advancement in nutrient trading would not have been possible.
With great pride, I introduce to you John Harrison, Virginia Land owner,
Farmer, and environmental steward.
Handoff
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