Industrial Revitalization Fund (IRF)

2012 Industrial Revitalization Fund (IRF) Grants awarded
Derelict commercial and industrial structures target of $2.8 million revitalization investment

Governor Bob McDonnell has announced the 2012 Industrial Revitalization Fund (IRF) awards for construction projects aligned with local and regional economic development strategies in six Virginia communities.

Projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of impediments to economic development effort, alignment with regional or local strategies, availability of matching resources, level of community distress where the property is located and an identified and feasible end use. The maximum award was $600,000 and each grant requires a 1:1 match.

Funding for this program was made possible by the "Opportunity at Work" budget initiative as a recommendation of the Distressed Communities Sub-committee of the Governor's Commission on Economic Development and Job Creation.

These awards exhaust the available funds for the current fiscal year, so applications are no longer being accepted.  However, additional funds are expected to be available in mid-2012. Please check back for updates. To speak with someone about the program, contact Community Development Policy Manager Chris Thompson at chris.thompson@dhcd.virginia.gov or (804) 371-7056, or Doug Jackson at douglas.jackson@dhcd.virginia.gov or (276) 780-3244.

Governor McDonnell’s press release >> URL
Program Design >> PDF