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News & Press: 2019 Economic Development News

Governor Northam Announces $180,000 in Virginia Community Business Launch Awards

Wednesday, October 9, 2019  
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Commonwealth of Virginia

Office of Governor Ralph S. Northam

 

~ Grants will provide support for targeted entrepreneurial training and development in four communities ~

 

BUCHANAN—Governor Ralph Northam today announced $180,000 in Community Business Launch (CBL) grants for Giles County, the city of Norton, and the towns of Buchanan and Culpeper. The CBL funding will provide training to entrepreneurs and assist the communities in conducting business plan competitions that align with local and regional economic development strategies, primarily in Virginia’s downtown commercial districts. Governor Northam made the announcement at an event in the town of Buchanan, where he presented local officials with a check.

 

“This initiative recognizes the importance of small business in our communities and combines funding with educational training to help prepare budding entrepreneurs to run successful businesses in their home communities,” said Governor Northam. “By aligning regional and local economic strategies with a community’s unique vision for its future, we can build support for the new and expanding businesses that fill storefronts and create new job opportunities.”

 

The CBL program is implemented through the Virginia Department of Housing and Community Development (DHCD) with a goal of supporting localities in their efforts to create a productive environment for new businesses and jobs that support their vision for revitalization.

 

“This program has proven to be a success in communities throughout the Commonwealth by creating jobs and building a strong entrepreneurial ecosystem,” said Secretary of Commerce and Trade Brian Ball. “Community Business Launch is focused on building a diverse economy and bringing vibrancy to our downtown communities.”

 

Since 2014, the CBL program has awarded $1.44 million in funding to 24 communities serving more than 450 participating entrepreneurs across Virginia. In total, CBL has garnered more than $2.25 million in private investment, with more than 230 new full-time jobs created and at least 100 jobs retained.

 

Ten applications requesting $449,325 in funding were received. Projects were reviewed and evaluated competitively, with an emphasis on those with the capacity to implement a successful campaign, alignment with regional or local strategies, and the availability of matching resources.

 

2020 CBL Grant Awards:

Grantee

Locality

Award

Ton of Buchanan

Town of Buchanan

$45,000

Town of Culpeper

Town of Culpeper

$45,000

Giles County

Giles County

$45,000

Industrial Development Authority of the City of Norton

City of Norton

$45,000

TOTAL:

$180,000

 

Full Release

 

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