The Town of Pembroke is finishing up an array of downtown improvement projects as part of the RALLY Southwest Virginia program. RALLY is a mini-grant program which provides a $3,000 award to communities in Southwest Virginia to implement a community development project through a team structure.
The New River Valley Development Corporation’s revolving loan fund has over $40,000 available to lend to small businesses in the New River Valley. The loan fund helps small businesses to buy equipment, upgrade facilities, or secure working capital to expand their operations. Typical loans range from $10,000 to $20,000 or more, depending on the needs of the business and the type of collateral on offer.
The NRVRC is in the process of updating the New River Valley Comprehensive Economic Development Strategy (CEDS) document for 2018. The CEDS provides a review of economic data and conditions for NRVRC jurisdictions, identifies goals and strategies that help to addresses these regional issues, and prioritizes regional economic development projects that the region can undertake to achieve these goals.
In January 2017, the New River/Mount Rogers Workforce Development Board (NR/MR WDB) began their Pathways to the American Dream project. This four-year project is funded by the Department of Labor’s Employment and Training Administration America’s Promise, H-1B Job Training Grant.
The New River Valley Commerce Park, which is an AEP certified site, received support for its efforts to market the park to industries with a $5,000 grant. Plans for the grant include development of a revised master plan and marketing materials.