The Tobacco Region Revitalization Commission approved 20 funding requests and launched two targeted economic development programs during its first meeting of the year, held Jan. 12 in Richmond.
The approvals included funding for a workforce housing project in Lee County, new loan programs aimed at maritime and drone-related businesses, and several energy initiatives intended to support manufacturers and strengthen the region’s infrastructure across Southern and Southwest Virginia.
As part of its economic development efforts, the commission approved the creation of two new strategic funding programs: the Maritime Advancement & Supply Chain Transformation (MAST) Fund and the TRRC Drone Fund. The MAST Fund is designed to support small and medium-sized businesses in the maritime and shipbuilding supply chain, while the TRRC Drone Fund will focus on drone manufacturers, integrators and suppliers operating in the Tobacco Region.
Both programs will operate as expansions of the commission’s partnership with the Virginia Small Business Financing Authority and will primarily offer loans intended to attract businesses in those industries to the region. Grants may be available on a limited, case-by-case basis.
Several energy-related projects also received funding, including multiple awards to the A. L. Philpott Manufacturing Extension Partnership, which operates as GENEDGE Alliance.
One project received a $50,000 Energy Catalyst grant to help manufacturers across Southwest Virginia reduce energy costs and improve energy resilience. The funding will allow GENEDGE to produce three industrial training assessments for selected manufacturers and assist them with equipment reviews, system evaluations and applications for U.S. Department of Energy grants. Commission funds will cover up to 50 percent of each manufacturer’s contracted costs.
The commission also approved two related studies, bundled together with $36,250 in total funding, to examine grid capacity and energy supply chains in Southern and Southwest Virginia. One study will assess the ability of the existing electrical grid to support current and future industrial growth, while the other will examine the availability and competitiveness of energy-related equipment and component suppliers serving manufacturers in the region.
In another approval, the commission awarded a $127,000 grant to Friends of Southwest Virginia to support a creative economy and outdoor recreation planning initiative. The funding will support the development of a creative economy dashboard, a long-term creative economy plan, a strategic plan and marketing efforts. The dashboard will track visitation, spending, job creation and private investment, with quarterly reports provided to stakeholders.
