Virginia’s Appalachian Regional Commission (ARC) funding fosters economic development and improves the quality of life for our Appalachian citizens. ARC provides assistance in the long-term development of a chronically depressed multi-state region, which includes 25 counties and eight independent cities in Virginia. ARC invests in water and sewer service to communities, workforce training for… Learn More
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. Eligible properties include… Learn More
Opportunity Zones are a federal economic development and community development tax benefit established as part of the 2017 Tax Cuts and Jobs Act available to investors with capital gains designed to encourage long-term private investment in low-income urban, suburban and rural census tracts.
The zones were nominated by each governor in the spring of 2018and are comprised of low-income… Learn More
Small-scale real estate developers can help advance community goals—one building at a time. Derelict commercial structures, vacant lots and existing stock of smaller structures offer opportunity for new businesses and quality housing. Successful towns and cities are not waiting for the right developer to come along; they are fostering the growth of their own local players—emerging development… Learn More
The Virginia Main Street Program is a preservation-based economic and community development program that follows the Main Street Approach by the National Main Street Center. Virginia Main Street is a Main Street America State Coordinating Program that offers a range of services and assistance to communities interested in revitalizing their historic commercial districts. While the program was… Learn More