Governor Glenn Youngkin announced $24.7 million in grants targeted at improving 20 blighted nonresidential properties across Virginia.
The funds will be supplemented by an additional $72.8 million in other funding sources, with 600 jobs expected as a result of the projects. The new round of grants comes as Youngkin places an emphasis on business development and helping blighted regions.
“The transformation of older, vacant or blighted structures into productive, usable spaces is crucial to catalyzing economic growth to create thriving communities,” Youngkin said in a press release. “The Industrial Revitalization Fund continues to be an important resource for those redevelopment efforts, spurring regional partnerships, economic development and job growth across the Commonwealth.”
The program was created in 2012, and since then has funded 38 projects, generating 485 jobs.
The largest grants in the 2022 awards include $5 million to Danville to redevelop a former textile mill into housing and commercial space, $4.5 million to Winchester in partnership with Shenandoah University to renovate a former National Guard armory, and $3 million to redevelop the historic John Randolph Hotel in South Boston.
Other projects include multiple plans for turning unused spaces into breweries, redeveloping a grocery store in Galax, redeveloping a wood finishing factory in Kenbridge, and renovating a former cigarette paper factory in Buena Vista.
The awards also include restoring the historic 1710 tavern in Tappahanock, providing a needed dining option after a 2022 fire in the tourist destination’s downtown.
“These funded projects are transforming deteriorated structures that impede future economic development efforts into small businesses, tourism destinations, and sources of community pride,” Secretary of Commerce and Trade Caren Merrick said. “Through IRF grants, we are able to make investments in both Virginia’s infrastructure and vibrancy by supporting impactful projects, encouraging strategic collaborations, and fostering economic development efforts across the Commonwealth.”
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Eric Burk is a reporter at The Virginia Star and The Star News Network. Email tips to [email protected].
Photo “Glenn Youngkin” by Glenn Youngkin. Background Photo “Virginia State Capitol” by Ron Cogswell. CC BY 2.0.
