Floyd County Receives $2.7 Million for Economic Development

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Floyd County, VA – Cardinal News recently reported that Floyd County was awarded a $2.7 million grant from the U.S. Economic Development Administration (EDA) to develop infrastructure to support the growth of their Floyd Regional Commerce Center.

According to the EDA press release, Secretary of Commerce Gina Raimondo said that the grant “will help ensure that Floyd County, Virginia has the resources necessary to create modern and sustainable infrastructure that will support local business, create good-paying jobs, and transform the local economy.”

Cardinal News stated that the grant will be used to continue to develop the 170-acre Floyd Regional Commerce Center. Only 6.4 acres are currently graded with access to roads and utilities. The funds will be used to help extend the road and utilities to the undeveloped sections of the Center. Because of the nature of the terrain, the area will eventually yield 27 buildable acres.

This grant will be matched by $680,000 in local funds.

Read the Cardinal News article here.

Read the EDA press release here.

Discover available sites and buildings in the New River Valley here.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Floyd Growth Center Featured as EDA Success Story

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Floyd County, VA – The U.S. Economic Development Administration (EDA) recently highlighted Floyd County’s Growth Center as a testament to the effectiveness of EDA funding in preserving jobs and enterprises in Virginia.

Positioned as vital infrastructure, this center caters to the needs of local entrepreneurs in Floyd, providing a resilient space capable of withstanding various natural disasters prevalent in the area. The construction of this 16,000 square foot facility was partially funded by the U.S. Economic Development Administration through the Disaster Supplemental Funding program.

Currently housing Pragmatic Environmental Solutions, an oil recycling engineering firm, the center embodies Floyd’s commitment to green practices and sustainable solutions. Floyd County’s Community and Economic Development Director Lydeana Martin noted that “Floyd has a natural, green reputation. While ideologically conservative, our businesses support practical, forward-leaning technologies and the implementation of sustainable solutions.”

Opportunities in the Floyd Growth Center are still available. For a virtual tour of the center click here.

Read the full EDA article here.

Explore more sites and buildings in Virginia’s New River Valley here.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Montgomery County Receives GO Virginia Grant for Falling Branch Site

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Montgomery County, VA – Falling Branch Corporate Park located in Christiansburg was one of eight projects recently awarded a GO Virginia grant. Falling Branch will receive $324,000 to help continue the development of the site, taking it from a Tier 4 site to a Tier 5 site. A Virginia Economic Department Partnership (VEDP) Tier 5 site has all the infrastructure and permits in place for development and is business ready.

GO Virginia is a program created to boost Virginia’s economic growth by supporting the development of projects that grow targeted industries and generate jobs in every region of the state.

Virginia Governor Youngkin said,

“These GO Virginia projects exemplify our commitment to fostering economic growth and creating opportunities across various regions. By removing barriers to entrepreneurship, improving industrial sites and increasing the number of Virginia’s shovel-ready sites, we are propelling the growth of targeted industries and clearing pathways for sustainable employment.”

According to GO Virginia, Falling Branch Corporate Park “will be the only Tier 5 site in GO Virginia Region 2 and is designed to support firms in advanced manufacturing, life sciences and biotechnology, as well as logistics.”

Read the Governor’s full press release here.

Read the full list of the June 2023 GO Virginia grant winners here.

Learn more about the Falling Branch Corporate Park and other available sites in Virginia’s New River Valley here.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Radford Moves to Purchase Former Foundry Site

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Radford, VA – The City of Radford recently distributed a press release stating that they will move forward with purchasing the former Foundry site, currently owned by Michigan-based Virginia Castings, LLC..

According to the press release, “after undergoing extensive environmental testing and assessment over the past 6 months, the Radford City Council, with the support of the Economic Development Authority believe there is no better time than now to purchase the property.”

Mayor David Horton said, “This is an exciting day for the City of Radford as we make plans for the future of this great community. By investing in West Radford for future commercial development, we open the door for many possibilities for economic success and opportunities for our citizens. It is a big part of the continued renaissance and resurgence of Radford as we work across the city to maximize areas for prosperity and sustainability.”

The Radford Foundry was founded in 1880 as the Radford Iron and Coal Company and employed approximately 1,500 at its peak in the late 1970’s. The Foundry produced an array of ductile iron products from water / sewer pipes to auto parts until they closed their doors in 2013. The current site is 80 acres with approximately 30 acres or more of developable land.

“We are thrilled that the city has acquired the former VCI property. We believe this will play a pivotal role in Radford’s Economic future providing a place for industrial development and job creation of both small and large businesses.” said Abram Williams, Economic Development Authority Chair.

With assistance from the Commonwealth, the city will pursue grants for remediation, site access, clean-up and redevelopment.

“This is a monumental day in Radford as we move forward on the acquisition of the former Foundry property,” said Kim Repass, Economic Development Director. “The ability to bring new industry and commercial businesses in the future to this property will bring economic vitality, job creation and investment to the City of Radford. This will be a game changer for our citizens and community.”

Read the original press release here.

Explore the City of Radford in Virginia’s New River Valley here.


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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Giles County Awarded Nearly $400,000 for Site Development

Giles County Awarded Nearly $400,000 for Site Development

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Giles County, VA – In January 2023, Giles County was awarded a $387,865 grant from the Virginia Business Ready Sites Program (VBRSP) for site development. The funds will be used to continue the development of Wheatland EcoPark. Wheatland EcoPark is a 130-acre industrial park located adjacent to US-460.

Wheatland EcoPark was one of 21 Virginia sites to receive funding from VBRSP. VBRSP is a discretionary program that is run by the Virginia Economic Development Partnership (VEDP). Its purpose is “to promote development and characterization of sites to enhance the Commonwealth’s infrastructure and promote its competitive business environment.” A total of $90 million in grants were awarded throughout the Commonwealth.

Read the full press release announcing the Fiscal Year 2023 VBRSP recipients here.

Learn more about the Virginia Business Ready Sites Program here.

Explore Giles County, a community in Virginia’s New River Valley, here.

Browse available sites and buildings in the NRV here.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small-town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Radford Eyes 80-Acre Parcel for Potential Redevelopment

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Radford, VA – WDBJ News recently highlighted the City of Radford and its decision to approve a future purchase option of an 80-acre site affiliated with the old Foundry on the southwest side of town.

The six-month option agreement with owner Virginia Castings LLC, gives the city the latitude to conduct environmental testing and remediation on the site if necessary before the purchase is finalized.

The Foundry, which shut its doors in 2013 was once a major player in Radford’s industrial base employing approximately 1500 workers at its peak in the 1970’s.

Per the article, “The city says it will pursue grants for environmental evaluation, remediation, site access, cleanup and redevelopment, leading to the opportunity for significant economic benefit.”

Read the full article here.

Learn more about Radford, a city in Virginia’s New River Valley here.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

 

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Floyd Regional Commerce Center

Floyd County Receives Nearly $1 Million for Site Development

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Floyd County, VA– U.S. Senators Mark R. Warner and Tim Kaine announced $971,639 in federal funding from the Appalachian Regional Commission (ARC) awarded to the Economic Development Authority of Floyd County to develop the Floyd Regional Commerce Center.

The funds will be used to construct an access road, an industrial cul-de-sac, and a pedestrian and bike path that will stimulate economic growth and support the creation of an estimated 130 new jobs in the region.

The press release sent from Senator Tim Kaine’s office garnered praise for Floyd County from both senators. “We’re pleased to see Floyd County receive this additional federal resource to finish construction of a new access road,” said the Senators. “This funding will create good-paying jobs and bolster economic development in the region.”

The funding is in addition to the more than $1 million in federal assistance that Senators Warner and Kaine announced in September 2017.

Here is more detailed information about the Floyd Regional Commerce Center:

PROPERTY OVERVIEW:

  • Floyd Regional Commerce Center is a 169-acre, publicly-owned industrial park located in Floyd, VA (Floyd County)
  • Phase II is 51-acre site and can accommodate a 137,000 SF building
  • Major utilities available to the site include water (8″ water line), waste water (8″ gravity feed line), electric (100 MW substation onsite), and broadband (redundant fiber with multi-gigabyte service)
  • Floyd Regional Commerce Center is 20.3 miles from I-81 Exit 114 via VA Route 8
  • Close proximity to colleges: Radford University (35 mins.), Virginia Tech (40 mins.), New River Community College (45 mins.)
  • Total population within a 60-minute commute: 570,879 people
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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small-town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

NRV Commerce Park Wins Grant for Site Development

NRV Commerce Park Wins Grant for Site Development

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Pulaski County, VA – New River Valley Commerce Park recently won a $300,000 grant for site development. The grant was awarded to Pulaski County through VEDP’s Virginia Business Ready Sites Program (VBRSP). The purpose of this program is to “identify, assess, and improve the readiness of potential industrial sites, which must contain a minimum of 100 contiguous, developable acres.”

Here is additional information about VBRSP from the press release about the grants:

“The program has two components: 1) site characterization – to assess and designate a site’s level of development, and 2) site development – to further develop a pool of potential sites across the Commonwealth. Localities can apply for grants to assist with the costs associated with the initial assessment and the development required to upgrade a particular site.”

Read the full press release about the 2022 VBRSP grant award winners here.

Learn more about NRV Commerce Park and other available sites in Virginia’s New River Valley here.

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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small-town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.”

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Floyd Growth Center to be built using $2.6 million in grant funds

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Floyd County, VA – The Economic Development Authority of Floyd County was just awarded a $2.305 million grant from the US Economic Development Administration (their press release attached) for Building 1 of the new Floyd Growth Center This is in addition to the $302,000 grant already awarded for the project by the Virginia Tobacco Region Revitalization Commission. The project cost is estimated to be $2.88 million.

The Floyd Growth Center will be a small campus on Lot 4 in the Floyd Regional Commerce Center providing small graded sites for non-retail businesses. Building 1 will be a 13,000 SF resilient light industrial building on one of those sites. It will have two main spaces: one will be about 4,300 SF and the other about 8,700 SF with each having a production area, drive-in door, and an office suite. The building will have 3-phase power, fiber to the premises with Gigabit service, public water and sewer, and dock-access. It will have special resiliency features including back-up generator, some solar photovoltaic, lightning protection system and reinforced walls and roof.

“When we applied for this last August, our goal was to develop affordable spaces for premium production or fabrication work, where local businesses could grow into and other businesses could consider space in Floyd,” said Jon Beegle, the local EDA Chairman.

“This is an exciting grant award. This project will provide construction work in the short-term and in the long-term will support more higher-wage job opportunities for those with technical and trade skills,” said Joe Turman, Chairman of the Floyd County Board of Supervisors. We deeply appreciate the support from the US EDA and the Virginia Tobacco Commission.”

Construction is expected to begin by the spring of 2021 on the building.

“We were very fortunate to get this US EDA funding,” Lydeana Martin, the Community and Economic Development Director shared. “They had special funding to help communities affected by Hurricanes Florence and Michael in 2018. Thanks to input from more than 50 local businesses, we were able to document the impact of those storms including loss of power, blocked roads, and flooding. This building will provide a more resilient option to businesses looking for non-retail space.”

“It’s very expensive to create good building pads and to construct business facilities,” according to Beegle. “And many businesses cannot afford to do so. Leasing often fits their business model better, especially in the early years of the business.”

The Floyd County EDA completed the Floyd Innovation Center in 2015. It provides spaces from 120 SF to 4,300 SF for businesses. It is fully occupied.

The Tobacco Commission is committed to developing a diverse economy in Southern and Southwest Virginia. Having infrastructure including sites and facilities is an important part of accomplishing that goal and the Commission looks forward to continuing to support projects that will bring jobs and investment to the areas served.

For more information, contact Lydeana Martin at the lmartin@floydcova.org or 540 267-4083.

site selection; top metro

Virginia’s New River Valley Top 10 Metro for Site Selection

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New River Valley, VA – The Blacksburg-Christiansburg-Radford metropolitan statistical area, known locally as the New River Valley, has been named a “Top Metro” for 2018 by Site Selection magazine. The 2018 rankings were split into three Top 10 lists based on population, including less than 200,000, 200,000 to 1 million, and over 1 million. Among metropolitan areas with populations less than 200,000, the NRV ranked No. 10 (tie) nationally with six new or expanding corporate facility announcements in 2018. The NRV has consistently held the 10th spot for the past two years. This past year in the New River Valley, six companies have announced projects that are investing a total of $405,702,500 million and creating 1,490 jobs. Published by Conway Inc., Site Selection delivers expansion planning information to over 48,700 readers including corporate executives, site selection consultants, and real estate professionals. The annual “Top Metros” rankings appeared in the March 2019 issue. In order to be considered in Conway Project Database, projects have to meet specific requirements. New construction must meet one or more of the following qualifying criteria:
  • 20 or more new jobs created
  • 20,000 sq. ft. or more
  • $1,000,000 or more investment
Office and/or industrial leases must have an investment of at least $1 million plus add 20 jobs or at least 20,000 sq. ft. of new space. Project also must fall into one of the following categories:
  • Manufacturing
  • Call Center
  • Headquarters
  • Data Center
  • Distribution Warehouse
  • Office
  • Research and Development
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Virginia’s New River Valley: Virginia’s New River Valley is an eclectic mix of interconnected small towns that each offer their own unique vibe and appeal. The region provides an abundance of cultural and social offerings due to the presence of three world-class universities, while retaining the charm and benefits of small town living. The NRV is home to a diverse and innovative business community with companies that range from high-tech startups to foreign-based corporations to specialty agribusiness. These organizations benefit from the collaborative spirit of our region and a loyal, highly-skilled, and educated workforce. The scenic beauty of the region also fosters a deep connection to nature, which is deepened by access to outdoor recreation and the preservation of our natural environment. It’s clear why Virginia’s New River Valley is “A Natural Fit.” Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.