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Governor Glenn Youngkin announced recently that four Industrial Revitalization Grants will be distributed through the Commonwealth totaling $8,250,000.
The funds will provide gap financing to projects aligned with local and regional economic development strategies in Staunton, Abingdon, Bluefield and Cape Charles.
The four awarded projects will create over 123 job and leverage another $20 million in public and private investment.
The program targets vacant, nonresidential structures whose poor condition negatively affects the surrounding area.
Staunton’s Arcadia Project will receive $1.5 million in available funding to preserve and adapt the historic theater on E. Beverly Street into a mixed use, state of the art cultural center.
To read the Governor’s release, click here.
For more news from across the Shenandoah Valley, click here.