The former Burlington plant in Halifax County is among six projects awarded $2.8 million in Industrial Revitalization Fund grants, Gov. Bob McDonnell announced Wednesday.
Halifax County Industrial Development Authority was awarded $50,000 out of the grant funding aimed at construction projects aligned with local and regional economic development strategies, primarily in distressed communities.
"These grants will leverage local and private resources to achieve redevelopment of these derelict structures," said Governor McDonnell.
"The funds will create a catalyst for long-term employment opportunities and on-going physical and economic revitalization to attract private sector investment to these distressed communities."
Projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of impediments to economic development effort, alignment with regional or local strategies, availability of matching resources, level of community distress where the property is located and an identified and feasible end use.
The maximum award was $600,000, and applications were accepted on a rolling basis beginning on Sept. 9-Dec. 31 or until the entire $3 million in funding is obligated.
Funding for this program was made possible by the "Opportunity at Work" budget initiative as a recommendation of the Distressed Communities Sub-committee of the Governor's Commission on Economic Development and Job Creation.
"Financial barriers often block the timely redevelopment of these structures," said DHCD Director Bill Shelton. "With the grants and local investments, we believe these projects will spur economic revitalization and provide new life for the deteriorated structures."
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