RICHMOND, VA – Governor Glenn Youngkin announced today over $690,000 in Virginia Main Street (VMS) and Community Business Launch (CBL) grants for 16 projects across the Commonwealth. The funded projects will revitalize historic commercial districts and create and expand small businesses.
“Downtowns and small businesses are the heart and soul of so many communities across the Commonwealth, and my administration recognizes the importance of supporting strong entrepreneurial ecosystems in our downtown districts,” said Governor Glenn Youngkin. “By investing in our small business communities and historic downtowns, we are growing local economies and ensuring that Virginia is open for business.”
The Virginia Department of Housing and Community Development (DHCD) administers all three programs, and the funding is utilized to support small business creation and expansion, as well as the revitalization of historic downtown and Virginia Main Street districts.
“These grant programs allow us to provide targeted assistance to address community-identified challenges facing Virginia’s small businesses, downtowns and historic commercial districts,” said Secretary of Commerce and Trade Caren Merrick. “These investments will ensure that, as we grow Virginia’s economy, we are supporting our local economies and creating strategic growth opportunities while preserving the unique character of these communities across the Commonwealth.”
CBL projects train entrepreneurs and small-business owners on business planning practices, culminating in a group of finalists pitching their ideas to a panel of judges with winners receiving grant funding and support services from the community to kick-start their new venture.
VMS Downtown Investment Grants (DIG) support Advancing Virginia Main Street communities and can be used to fund complete projects, provide seed funding for new projects or provide gap financing that allows a project to become fully funded. VMS Community Vitality Grants (CVG) assist organizations and communities in achieving their downtown revitalization goals and are available to all active Exploring Main Street and Mobilizing Main Street communities and organizations.
“Through the VMS and CBL programs, we are able to make targeted and strategic investments in these communities, creating the best possible catalyst for revitalization and economic growth,” said Bryan Horn, Director of the Virginia Department of Housing and Community Development. “These 16 projects will leverage more than $558,000 in additional public and private investments in these communities.”
To learn more about Community Business Launch, visit dhcd.virginia.gov/cbl. To learn more about Virginia Main Street, visit dhcd.virginia.gov/vms.
