The Town of Narrows has received a 2019 Virginia Main Street Commercial District Affiliate grant from the Virginia Department of Housing and Community Development through the Virginia Main Street (VMS) Program, the state’s coordinating program for Main Street America.
The New River Valley Business Center (NRVBC) is home to many small businesses and entrepreneurs, with businesses ranging from high-tech manufacturers to professional and personal service providers. The NRVBC’s primary purpose is to support the success and growth of these small businesses, but the facility’s convenient meeting room rentals and affordable, flexible production and office suites appeal to businesses of any size.
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.