Governor Glenn Youngkin has announced a total of $5.4 million in grants aimed at revitalizing historic commercial districts across Virginia. This funding will support 30 local projects, including the transformation of vacant structures and expansion of small businesses, with the goal of bolstering local economies.
The investment is expected to enhance communities by creating or expanding 19 businesses and generating 142 new jobs. It will also leverage over $17.6 million in additional public and private investments.
“We are thrilled to partner with business and community leaders to launch projects that will create jobs and strengthen these historic downtowns,” said Governor Glenn Youngkin. “I look forward to seeing these projects create opportunity and prosperity for the Virginia communities that make our state the best place to live, work, raise a family, and do business.”
The grant awards include more than $4.5 million in Industrial Revitalization Funds for eight projects across the Commonwealth, $570,000 in Virginia Main Street grants for 17 communities, and $325,000 in Community Business Launch grants for five projects.
“These community grants enable Virginia to deliver targeted support for local economic development priorities,” said Secretary of Commerce and Trade Juan Pablo Segura. “The investments will foster local revitalization efforts, offer innovative solutions, drive economic development, and build stronger communities across the Commonwealth.”
Since its inception in 1985, the Virginia Department of Housing and Community Development (DHCD) has been assisting localities involved in downtown commercial district revitalization through programs such as the Virginia Main Street Program. The Industrial Revitalization Fund aims to redevelop vacant industrial properties by leveraging local resources. Additionally, DHCD administers Community Business Launch initiatives to support small business creation in historic downtown areas.
Further information on DHCD’s downtown revitalization programs can be found at their website links provided.
