Governor Glenn Youngkin today announced more than $24.7 million in 20 Industrial Revitalization Fund (IRF) grants. IRF grants provide gap financing for construction projects aligned with local and regional economic development strategies, primarily in distressed communities.  “The transformation of older, vacant or blighted structures into productive, usable spaces is crucial to catalyzing economic growth to create thriving communities,” said Governor Glenn Youngkin. “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 Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties. The program is targeted toward vacant non-residential structures whose poor condition creates physical and economic blight to the surrounding area in which the structure is located. Projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of 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 funded projects are transforming deteriorated structures that impede future economic development efforts into small businesses, tourism destinations, and sources of community pride,” said Secretary of Commerce and Trade Caren Merrick. “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.” The 20 awarded projects will create over 600 jobs and leverage an additional $72.8 million in public and private investment and include five mixed-use projects that will create nearly 200 new residential units. Since 2012, the IRF program has funded 38 projects that have revitalized vacant, blighted buildings. These projects have generated more than $121 million in other public and private investment and resulted in the creation of more than 485 jobs across the Commonwealth. A FULL LIST OF THE 2022 INDUSTRIAL REVITALIZATION FUNDS AWARDED PROJECTS CAN BE FOUND HERE.  

Governor Glenn Youngkin announced today more than $5 million in Growth and Opportunity for Virginia (GO Virginia) grant awards for 10 projects focused on expanding talent pipelines and strengthening workforce development while accelerating economic growth and job creation efforts across the Commonwealth. “As we grow and strengthen Virginia’s economy, it is important that localities across the Commonwealth share in that success and have their unique community needs met,” said Governor Glenn Youngkin. “Economic development is an inherently collaborative endeavor, and GO Virginia’s regional approach continues to be an invaluable tool for growing those crucial partnerships.” GO Virginia supports projects that focus on workforce development, cluster scaleup, startup ecosystems, and site and infrastructure development to encourage regional economic growth and diversification. This round of grants includes regional projects, one statewide competitive project and the first grant award of the newly announced Talent Pathways Initiative (TPI) program. TPI works with industry leaders to analyze the workforce needs of high growth industries while identifying the specific skills needed for Virginians to fill available jobs in regional markets. Funded projects include Great Opportunities in Technology and Engineering Careers (GO TEC), which received a $3,474,821 statewide competitive grant to build the infrastructure and administrative capacity to expand. This project includes four GO Virginia regions and will develop a workforce development model strategically designed to build a critical mass of talent in traded industry sectors. “GO Virginia grants support projects that will drive local and regional economies, foster innovation and address community-identified needs,” said Secretary of Commerce and Trade Caren Merrick. “These projects exemplify the innovative partnerships that GO Virginia grants were designed to promote, driving regional economic growth and strengthening the Commonwealth,” In addition to the awarded GO Virginia funding, the 10 awarded projects will leverage an additional $4.5 million in local and non-state funding. "The success of GO Virginia is predicated on the belief that communities are stronger when the public and private sectors work together on shared challenges and to develop high-impact solutions," said Delegate Terry Austin, a GO Virginia board member. "These projects reflect that commitment to regional collaboration. I applaud the hard work of the GO Virginia regional councils and partners, and I am excited to see the positive economic impact these projects will have across the Commonwealth." Since the program’s inception in 2017, GO Virginia has funded 242 projects and awarded approximately $99.5 million to support regional economic development efforts. To learn more about the GO Virginia program, visit dhcd.virginia.gov/gova   2022 STATEWIDE COMPETITIVE AWARDS: GO TEC Virginia 2025 | $3,474,821 Region 1:Counties of Buchanan, Carroll, Grayson, and Wythe Region 3:Counties of Charlotte, Cumberland, Halifax, Henry, Lunenburg, Martinsville, Mecklenburg, Nottoway, Patrick, Pittsylvania, and the city of Danville Region 4:Counties of Greensville and Surry, and the cities of Colonial Heights and Hopewell Region 5:Cities of Hampton, Newport News, Norfolk and Portsmouth The Institute of Advanced Learning and Research (IALR), in partnership with GO Virginia In-Region Coordinating Entities (IRCEs),community employers, economic developers, K-12 divisions and higher education institutions, will develop a strategic talent pipeline initiative designed to attract new companies and grow existing businesses in targeted traded sectors across multiple GO Virginia regions. The project will build the infrastructure and administrative capacity to expand the existing GO TEC model designed to scale career exposure programming and talent pathways that lead students to employment in high-growth industries.   2022 TALENT PATHWAYS INITIATIVE PLANNING AWARDS: Region 6 Talent Pathways Initiative (TPI) Planning | $250,000 Region 6: Counties of King George, Spotsylvania and Stafford The Bay Area Workforce Development Board (BCWDB) will define talent pathways for Region 6’s targeted industries. Using a sub-regional approach, BCWDB will develop a plan to create robust talent pipelines specific to the region’s industry clusters through tools including situational analysis, creating asset maps of the region and developing industry coalitions.   2022 REGIONAL GRANT AWARDS: SHD Technology Park | $993,300 Region 8: Counties of Augusta and Rockingham, and the cities of Harrisonburg, Staunton and Waynesboro The Shenandoah Valley Regional Airport Commission (SHD) will make fundamental site improvements to the Aviation Technology Park. These improvements include the construction of a water line and gravity sewer line that will strategically redirect existing utilities at the site to the perimeter, allowing SHD to build out the aviation park and construct several new hangars. This project expects to support the creation of up to 267 high-wage jobs. Industry 4.0 for the Automated-Connected-Electrified (ACE) Workforce | $500,000 Region 2: Counties of Botetourt, Montgomery and Roanoke, and the city of Roanoke Virginia Tech College of Engineering will scale up their transportation and autonomous vehicles sector through the formulation of an Automated-Connected-Electrified (ACE) Coalition of over 150+ public, private, and nonprofit organizations. The ACE Coalition will provide direct technical assistance and advising to sector companies, create a network navigator position to serve as the point of contact for companies navigating the network, form a Project Technical Advisory Committee (PTAC), as well as implement Industry 4.0 curriculum to increase the pool of qualified workers for the cluster. Airport Commerce Park | $190,000 Region 2: County of Campbell and the city of Lynchburg The city of Lynchburg and Campbell County are collaborating to advance 82 acres in an existing airport park from Tier 2 to Tier 3 along the Virginia Business Ready Site Program (VBRSP) scale.The site will be designed to attract firms in the region’s targeted industries. BTEC – Expanding Welding Training Capacity & Jobs in the Roanoke Valley | $166,667 Region 2: Counties of Botetourt and Craig The Botetourt County Economic Development Authority (EDA) will expand the current Botetourt Technical Education Center (BTEC) welding program that will help serve the unmet need for additional welders in the region. This expansion will include an additional ten welding booths, allowing the program to train an additional 45 new welders, increase high school and adult enrollment and double the hands-on training time capacity at the welding booths. Pathways to Success | $100,000 Region 6: Counties of Caroline, Colonial Beach, Essex, King and Queen, Mathews, Middlesex, Spotsylvania, Stafford and Westmoreland, and the city of Fredericksburg Stafford County Public Schools, in partnership with JASON Learning, will design and develop an 18-week course for grades 6-8 that will introduce students to career opportunities, industry certifications, occupations, credentials, advanced placement opportunities and more, all with a focus on the region’s targeted industry clusters. JASON learning will deliver course training for up to 50 educators from Stafford County Public Schools and other regional school district partners. The Gupton Initiative | $99,200 Region 1: Counties of Bland and Tazewell Region 2: County of Franklin and the city of Roanoke Region 3: City of Danville Region 4: City of Petersburg Region 8: County of Rockingham and the city of Harrisonburg The Virginia College Fund (VCF) will create a pipeline of internship and employment opportunities for students of VCF member institutions in the advanced pharmaceutical manufacturing cluster. VCF will head the working group consisting of partnering institutions and localities, which will develop a situational analysis, strategy and a roadmap for the Gupton Initiative in order to further demonstrate the potential for employment in advanced manufacturing sectors across Virginia. CRC REDO Strategy and Business Plan | $65,000 Region 3: Counties of Amelia, Buckingham, Charlotte, Cumberland, Lunenburg, Nottoway and Prince Edward Through a series of regional discussions, the Commonwealth Regional Council (CRC) will develop a business plan that includes strategic goals, priorities, focus points and areas of support for the communities of the CRC footprint. This will enable the region to better align with current members’ goals, reflect changes in the economic development landscape and launch a Regional Economic Development Organization (REDO) in an effective, sustainable manner. Quantitative Metrics to Determine Effects of Foreign Investment | $30,000 Region 7: County of Fairfax and the city of Arlington The Northern Virginia Regional Commission will evaluate the impact of foreign direct investment (FDI) on wages and jobs in the region. This project will help the region understand the role international business plays in its economy, as well as identify strategies to advance economic development efforts to diversity and strengthen the regional economy.