Governor Warner Announces Funding for Five Virginia Works Initiatives
Governor Warner Announces Funding for Five Virginia Works Initiatives
Targeted investments will support tourism and manufacturing in rural and distressed communities
LA CROSSE - Governor Mark R. Warner today announced $2.1 million for five Virginia Works initiatives to increase tourism and manufacturing businesses in Virginia's rural and economically distressed communities. Governor Warner created Virginia Works as a new approach to rural economic development. The initiative builds on communities' existing strengths by creating new and supporting existing industries and helping them expand.
"When I announced Virginia Works last December, I emphasized the fact that small, targeted investments can make a big difference in local economies, especially in our distressed communities," said Governor Warner. "These communities have unique strengths and assets. These funds will help develop those assets, particularly tourism and manufacturing, and help create new jobs and economic opportunities."
The Governor announced Virginia Works funding at the opening for the first phase of the Virginia Tobacco Heritage Trail in La Crosse, Virginia. The project, a Virginia Works, Rails to Trails initiative, received $775,000 to develop 48 miles of abandoned railroad tracks into a recreational trail. This first, four-mile segment will stretch from La Crosse to Brodnax. The trail will eventually loop through 170 miles of Southside Virginia to support regional tourism and economic development.
Governor Warner announced the Tobacco Region Tourism Loan Program, a new, $1 million loan program to assist eligible tourism-related business in Virginia's tobacco region. The loans will help start-up and support new and existing shops, hotels, restaurants, and other tourism-related businesses near current and developing tourism attractions in Southside and Southwest Virginia. The program is funded through the Virginia Tobacco Indemnification and Community Revitalization Commission and administered by the Virginia Small Business Financing Authority, with assistance from the Virginia Tourism Corporation.
Round the Mountain, a newly formed artisan network covering 23 Southwest Virginia localities, will receive $195,000 in Virginia Works funding through the Department of Housing and Community Development (DHCD) for start-up and operating support. Round the Mountain coordinates the marketing, promotion, and development of Southwest Virginia artisans to support economic development in the region. Two Virginia artisan centers will be formed as a part of Virginia Works, and Round the Mountain will complement these centers. Similar artisan and craft ventures in North Carolina generate approximately $122 million in annual revenue.
The Governor also announced $50,000 in Virginia Works funding for tourism microenterprises through the DHCD Virginia Enterprise Initiative (VEI) program. VEI provides business skills training, technical assistance, microloans, and technical assistance to eligible microbusinesses. Six VEI sites will receive between $5,000 and $10,000 each for targeted training and loan programs to plan for bed and breakfasts, agricultural tourism, craft shops, historic tours, and other tourism-related microbusinesses.
Governor Warner announced $89,255 in funding for the Virginia Small Manufacturers Assistance Program (VSMAP). As part of Virginia Works, VSMAP provides targeted assistance and expertise to small manufacturing businesses in Virginia's rural and distressed areas to help create and retain manufacturing jobs. Four small manufacturing companies in Southwest and Southside Virginia will receive between $12,000 and $20,000 to improve business practices and product development.
http://www.governor.virginia.gov/Press_Policy/Releases/2005/Sep05/0906.htm