COMMISSION APPROVES 20 FUNDING REQUESTS
Richmond, VA – The Tobacco Region Revitalization Commission held its first scheduled meeting of the year on Monday, January 12th in Richmond.
Among the funding requests in support of a variety of organizations and initiatives across Southern and Southwest Virginia, the Commission supported the creation of two new strategic funding programs, a housing project that will add 115 workforce housing units in Lee County and multiple energy projects that will help diversify the economy of rural Virginia.
The Commission continues to seek innovative ways to create jobs and investment in the Commission footprint. As part of that effort, the Commission approved the creation of the Maritime Advancement & Supply Chain Transformation (MAST) Fund and the TRRC Drone Fund. The MAST Fund will support small and medium-sized enterprises in the maritime and shipbuilding supply chain, strengthening national security and the industrial base. The TRRC Drone Fund will close capital gaps for drone manufacturers, integrators, and suppliers in the Tobacco Region. Both programs will operate as expansions of the Commission’s successful partnership with the Virginia Small Business Financing Authority (VSBFA) and offer loans to attract businesses in those industries to the region. Grants may also be available on a limited case-by-case basis.
The Commission’s Economic Development Workforce Housing Incentive Pilot Program continues to receive strong interest. The latest project approved under this program will provide $800,000 to Lee County to support the Western Lee Housing Project at the DeBusk Veterinary Teaching Center. The project will create 115 new housing units in an area that multiple studies have identified as a target area for additional housing.
Multiple energy projects also received Commission funding. The Commission recognizes that reliable, affordable energy is critical to the economic success of the region and that business attraction efforts are increasingly impacted by energy pricing and availability. The Commission also recognizes that the energy sector itself presents huge opportunities for job growth and investment across Southern and Southwest Virginia.
For a full list of projects approved at this meeting please CLICK HERE. For more information, the meeting packet on our website contains detailed project descriptions, staff comments, grant requirements and other business, including project extensions and modifications to previous awards.
“The grants and programs approved at our meeting in Richmond are a perfect example of the Commission’s ability to be flexible, innovative and forward-thinking as we meet the needs of our Southern and Southwest Virginia communities,” said TRRC Chairman, Delegate Will Morefield. “I’d like to thank our departing commissioners for their work as well as Executive Director James Campos for his contributions to the Commission over the last few years. We have completed a comprehensive strategic planning effort, created several new programs and launched the Foundation for the Advancement of Southern and Southwest Virginia. All of these exceptional public servants played a key role in those efforts and they will have a positive impact on our communities for years to come. Looking forward, I am more excited about the Commission’s future, and our ability to bring jobs and investment to Southern and Southwest Virginia, than ever.”
“It has been an incredible honor to serve as Executive Director of the Tobacco Region Revitalization Commission,” said TRRC Executive Director, Hon. James E. Campos. “I am grateful for the Commissioners, our dedicated staff, and the community leaders who are the heartbeat of this region. Our mission has always been about more than just grants; it’s about serving as a true partner in economic development to empower communities across Southern and Southwest Virginia to seize opportunities and build on their strengths. I am incredibly proud of what we have accomplished together, from launching the Foundation for the Advancement of Southern and Southwest Virginia to the adoption of a historic strategic plan, the creation of our Energy Ingenuity program, and more. I am confident that the momentum we have built will allow the Commission to continue to drive prosperity across Southern and Southwest Virginia for another 25 years. I want to thank the Commission for their trust, the communities we serve for their partnership, and Governor Glenn Youngkin for giving me this opportunity to serve the Commonwealth. Keep the momentum going!”
