RICHMOND – Governor Terry McAuliffe today announced $1.45 million in Industrial Revitalization Fund (IRF) awards for three localities in the Commonwealth, including the towns of Big Stone Gap and Cape Charles, as well as the Industrial Development Authority of South Boston. The IRF provides gap financing for construction projects aligned with local and regional economic development strategies, primarily in economically distressed communities.
“Strategic investments like the Industrial Revitalization Fund awards help strengthen our economy and our communities,” said Governor McAuliffe. “Building a new Virginia economy starts with a strong, vibrant local economy in every corner of our Commonwealth. From the Eastern Shore to the Coalfields and every place in between, these funds ensure localities have the resources to complete projects that will diversify our economy and produce real benefits for communities, like direct business activity and tourism.”
Projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, impediments to economic development efforts, alignment with regional or local strategies, availability of matching resources, the level of community distress where the property is located, and an identified and feasible end use.
“These projects exemplify the success we can have when private investment is supported by state and local revitalization strategies,” said Secretary of Commerce and Trade Todd Haymore. “With more than $11 million in total private investment and an expected 50 new jobs created for the three localities, these projects represent positive transformations in Virginia.”
The maximum award is $600,000 per project. Nine applications totaling over $5 million in funding requests were received. The funds are intended to leverage local and private resources to achieve market-driven redevelopment of derelict structures, creating catalysts for long-term employment opportunities and on-going physical and economic revitalization.
The following projects were awarded funding through the 2018 Industrial Revitalization Fund program:
It always amazes me the things the government will fund and not fund, a Brewery in a small town wow.While i don,t think a brewery fits into a town that is suppose to be family friendly(what kind of family is that promoting) and watching out for people driving golf carts drunk will become a bigger issue than it already is. I will give the owners kudos to have two businesses in town and both acquire money from the government(one state and one federal) has to be no small feat.I just can’t help but wonder though that when i hear people say what this place needs is something for the youth to do, they are not thinking Brewery. Is the idea of the town council to turn Cape Charles into a pub crawl town or perhaps a little Bourbon street through town. Please will the people with the grant writing abilities(connections) team up with the ones who have the backing(daddy’s money) and build something(bowling alley maybe) for our youth.
It always amazes me that people who come to this town with money to invest immediately become a target for comment from folks who have lots of great ideas for what someone else should do for the community.
You are so right and I bet you are a fan to what Dickey Foster did to Cape Charles too. Maybe next someone will open a marijuana dispensary wouldn’t that be a nice family place to visit.
Who is Dickey Foster?
See:
http://pilotonline.com/business/real-estate/on-e-shore-development-mired-in-controversy/article_9ab9949d-ad6d-5e42-965f-74726a98c3d5.html