Industrial Revitalization Fund

The Virginia Community Development Block Grant (CDBG) program provides funding to eligible units of local government for planning and implementing projects that address critical community development needs, including housing, infrastructure and economic development. The goal of the CDBG Program is to improve the economic and physical environment in Virginia’s communities through activities which primarily benefit low- and moderate-income persons, prevent or eliminate slums and blighting conditions or meet urgent needs which threaten the welfare of citizens.

The Community Business Launch (CBL) is designed to assist communities in taking a systems approach to defining and pursuing an asset-based small business development strategy. The program starts with a community’s unique vision for its future and then uses a local business competition to find and foster the entrepreneurs that connect with that vision. CBL will provide the tools to effectively prepare multiple entrepreneurs to operate successful businesses in a downtown or neighborhood commercial district and allow them to compete for funding to start up their new endeavor.

While only a limited number of entrepreneurs may win the business competitions, CBL will give rise to many budding entrepreneurs that have been prepared, through the CBL initiative, to be successful businesses. In addition, it will help communities begin to develop a coordinated, comprehensive sustainable environment that identifies, launches and supports community-based entrepreneurs and small business at all levels of development.

Building Entrepreneurial Economies  is the next evolution of Virginia’s commitment to micro-entrepreneurship. Formerly known as Virginia Enterprise Initiative (VEI), BEE is taking a more local approach to developing stronger businesses that help build stronger communities.

BEE provides grants and technical assistance to regional and local micro-enterprise development organizations (MDOs) that specialize in assisting non-traditional entrepreneurs. This assistance includes pre-concept counseling, business plan development, credit repair and counseling, credit access and continuing technical assistance. To deliver these services, the MDOs also partner with banks, area businesses, educational institutions, each other and/or other private and public entities within the community. These organizations provide a service that often is not otherwise available and are designed to support the entrepreneur, even after accessing capital. VEI seeks to engage MDOs that provide innovative processes to attract and assist micro-entrepreneurs.