Virginia Enterprise Zone 2013 Designation Round

DHCD’s Virginia Enterprise Zone (VEZ) program has just finished facilitating three regional how-to-apply workshops to spread the word about the upcoming designation round.  On October 1, 2012, the program will begin accepting applications to fill the positions of two zones that are due to expire at the end of this year.

Much like VMS, the Enterprise Zone program is a partnership between state and local government that can be an effective tool in stimulating job creation, private investment and revitalization in your community, especially when promoted as part of a comprehensive package of economic development efforts.  In fact, several Main Street communities currently have EZ designations.  To see which ones, check out the VEZ Map.

To learn more about how the Enterprise Zone program could become an instrument in your community’s economic development toolbox, visit the Enterprise Zone website or contact Lauren Fink at Lauren.Fink@dhcd.virginia.gov.

Incentives

Economic Development incentives are a component of economic development policy to encourage growth in traditionally impoverished or underdeveloped areas in the United States.

Virginia offers a variety of performance-based incentives. From tax credits to tax exemptions, Virginia continues to demonstrate its willingness to invest in those who invest and reinvest in the commonwealth.

While economic development incentives have proven useful in many communities, there exists various unintended consequences of these programs; the most obstructive being their complexity.  For example, the financing structure of a real estate project utilizing tax credits can get very complex, and it is generally recommended that a knowledgeable consultant be retained to structure the deal.

Another challenge is identifying the various incentives available, their deadlines and how to apply.  There are many resources available that provide this information, but there is generally no central database as these programs are administered by various levels of government.

The Virginia Economic Development Partnership, through its Ally Information Exchange, provides a list of existing economic development incentives. The Virginia Department of Taxation’s website provides a list of tax credits available to businesses and individuals in Virginia.

Both the federal and state tax historic preservation tax credit programs are administered in Virginia through the Department of Historic Resources. Information and assistance with tax-credit projects may be requested from DHR’s Richmond office. Contact Elizabeth Tune at (804) 367-2323, ext. 110 or Julie Langan at (804) 367-2323, ext. 155. Also, for more information about the federal tax-credit, visit their Technical Preservation Services website.

The Virginia Tourism Corporation provides several grants and funding sources.

North Carolina State University has created a national database of State Incentives for Renewables and Efficiency.

Please contact us if you have any questions about a particular incentive or to share your experiences with working through any of these programs.

Staunton/Augusta/Waynesboro In Top 20 “Micropolitans” Nationwide

Staunton/Augusta/Waynesboro’s economy ranked among the country’s strongest micropolitan areas, reports the March issue of Site Selection Magazine.  The Staunton/Augusta/Waynesboro area is tied at #13 in the national ranking and is top-ranked for Virginia. The only other Virginia locality to make the list, Martinsville, came in at #32.  

The U.S. Census Bureau defines a micropolitan region as an “urbanized area” based around a town or city with a population between 10,000 and 50,000 people.

The magazine’s criterion for ranking includes capital investment and job creation. Six local projects met at least one of the three criteria for successful micropolitan cities — at least $1 million in new capital investment, a minimum of 20,000 square feet of new construction and creation of at least 50 new jobs.  

The six companies that catapulted the Staunton/Waynesboro micropolitan into the top 20 are:

1. Cadence <$15.9 million expansion>
2. Fisher Auto Parts <$3.5 million expansion>
3. Innovative Refrigeration Systems, Inc. <$1 million expansion>
4. PPI/Time Zero, Inc. <$1.15 million expansion>
5. nTelos, Inc. <$2.34 million expansion>
6. Lumos Networks <$1.2 million expansion>

“2011 was a great year for our community. Investment and interest are up,” said Amanda Glover, Assistant Director of Economic Development for the City of Staunton.  “Companies know we can provide a really strong work-life balance. When they see the success of our long-term businesses, they know they’ve made the right choice.”

When asked to list why she believes the Staunton/Augusta/Waynesboro micropolitan area is attracting this kind of investment, Glover says, “We have location, labor and logistics. We offer access to two interstate highways, as well as rail and air. We are centrally located among 11 colleges and universities. We are just a couple of hours from Washington D.C., Richmond and Norfolk. Plus, the Shenandoah Valley is one of the most beautiful places in the country.”

The same issue of Site Selection Magazine reports that statewide, Virginia’s new corporate facilities and expansions increased 44% over the previous year, boosting Virginia among the top five in the national ranking for new corporate facilities.  Site Selection now ranks Virginia #5 nationally in 2011, up from #10 in 2010.

Hopewell Celebrates Virginia Main Street Designation

A kickoff event celebrating Hopewell’s designation as an official Virginia Main Street (VMS) community was held Thursday, January 12 at the Beacon Theater in downtown Hopewell.

At the event, the VMS staff presented the town with road signs signifying its designation as a Main Street Community and joined with local officials in remarking on the community’s past and future revitalization efforts.  Food and beverages were sponsored by the John Randolph Medical Center and local restaurants, Lucky Start (formerly Pearl River) and Stone’s Diner.

In attendance at the event were Mayor Moore of Petersburg and Patrice Lewis, a representative for Senator Warner, who each read letters expressing support and enthusiasm for Hopewell’s designation.  Hopewell Mayor Christina Luman-Bailey recognized attending business and industry leaders and representatives from Ft. Lee, Colonial Heights, Prince George and Chester for their commitment and regional support.

“This is not only about Hopewell, but about the entire region, and we look forward to seeing the ‘Wonder City,’ Hopewell’s historic nickname, take on a rejuvenated role in the region,” stated Mayor Luman-Bailey.

Thursday’s kickoff event followed several prior trainings for volunteers and partners of the Hopewell Downtown Partnership (HDP), the organization who spearheaded the application process for designation and will lead the local Main Street program.  This training will be the first of many intensive services the organization will receive as a newly designated VMS community.

“We have come a long way,” commented HDP Board President Jim Poe, “but we still have a lot of work ahead of us to realize our vision for a fully revitalized downtown.  That said, together with the town, the state, local businesses and citizens, our volunteers and future staff will help make Hopewell an even more pleasant place to work, live and visit.”

For more information about Hopewell’s revitalization efforts, contact Jim Poe at (804) 400-3200 or etpoe@aol.com.

Altavista On Track arts incubator effort spotlighted

Lynchburg station WSET recently featured Altavista’s efforts to build business downtown.  The community’s Main Street organization, Altavisa On Track, has helped in the coordination and implementation of a DHCD-awarded Community Development Block Grant, and recently created an arts and antique incubator to spark entrepreneurship in the historic district. The strategy was the result of a Virginia Main Street-sponsored economic-restructuring plan facilitated by National Trust Main Street Center business development specialist Todd Barman.

The video features Altavista On Track Executive Director Jo Kelley and can be viewed by clicking the picture below.
 

The film crew was capturing the story on August 23 as the earthquake shook downtown buildings, as described in another story, available here.

Sustainable Main Street resources available

Main Street efforts are already bringing together economic, social and environmental goals in pursuit of fostering quality in their communities. To push it a step futher, 70 participants gathered in Staunton in July for two days of conversation on and the examination of sustainability models in Virginia.

Speakers included Andrea Dono of the National Trust for Historic Preservation and sustainability leaders from across the commonwealth. 

If you were unable to make it to the workshop, you can catch up on the conversation by downloading the training archives available now at www.dhcd.virginia.gov/mainstreet.

Town and gown topic of VDDA Annual Workshop June 7-8

Lexington, Virginia has served as the home of Washington and Lee University since 1780 and Virginia Military Institute since 1839. This historic downtown is a great location to ponder the nexus between downtown revitalization, community development, and higher education.

On June 7 and 8, Virginia Downtown Development Association (VDDA) will do just that at its Annual Workshop, this year titled, ”Melding Town and Gown: Higher Education in Downtown.”

The topic is complex: colleges, universities, and other higher education facilities offer both significant opportunities and unique challenges for Virginia’s downtowns.  A higher education institution’s plans for growth and change may align with a community’s downtown plans, but they may also differ.  An institution’s staff and students are potential consumers of downtown goods and services, but they may have needs and demands unlike those of a community’s other residents.

VDDA’s Annual Workshop involves panel discussions involving representatives of downtowns and higher education institutions from across Virginia.  Register today and hear how these communities and institutions are taking advantage of opportunities and overcoming challenges together.

2011 Virginia Main Street Downtown Improvement Grants to include new CSX partnership

Applications are now being accepted from Designated Virginia Main Street (VMS) Communities for the 2011 Downtown Improvement Grants. Traditionally capped at $2,500 for special Main Street  projects, Downtown Improvement Grants will be available in amounts up to $7,500 for the four Designated VMS Communties served by CSX Transportation lines, thanks to a generous matching grant from the corporation.

CSX Transportation operates a 21,000 route-mile rail network serving major population centers in 23 states east of the Mississippi River, including connections to more than 230 short line and regional railroads.  VMS communities served by CSX are: Franklin, Lynchburg, Waynesboro, and Winchester. Virginia Main Street thanks CSX Transportation for this support of downtown revitalization in Virginia. 

Downtown Improvement Grants are only available for Designated Virginia Main Street Communities, and applications are due by 5 p.m. on Friday, May 6.  

Read about the projects and outcomes of last year’s funding cycle, or view the grant announcements below:

Grant announcement for Designated VMS Communities served by CSX >> PDF
Grant announcement for other Designated VMS Communities >> PDF

Congratulations Milestone Achievement Award Recipients!

On March 31, 2011, community leaders from the 21 Designated Virginia Main Street Communities met to celebrate achievements built over the course of their efforts.  The crowd of 95 gathered for the Milestone Achievement Awards luncheon and ceremony at Richmond’s historic Jefferson Hotel.

At the ceremony, Mary Rae Carter, Deputy Secretary of Commerce and Trade for Rural Development congratulated the communities and pointed out the visible results of their leadership. Next, DHCD Director Bill Shelton highlighted some of the cummulative outcomes across Virginia: this year’s net job gain of 663 jobs and the more than $275 million privately invested over the past five years.

The keynote speaker of this year’s luncheon was nationally recognized sustainable preservation expert Jean Carroon, FAIA, LEED AP. Ms. Carroon reminded the audience how important their work is in preserving their communities and protecting the planet. “People often forget that before we recycle, we can reduce consumption and reuse existing products,” she said. “A building is the one of the largest handmade objects we have. Reusing a building reduces our environmental impact in a way far greater than recycling an aluminum can.” 

Virginia Deputy Secretary of Commerce and Trade for Rural Development Mary Rae Carter presents Culpeper Renaissance Inc. Board Treasurer Elana Clements and Manager Jessica Brewer with the Special Recognition Award for the Be A Culpeper Local campaign.

Finally, Virginia Main Street presented the Milestone Achievement Awards. Fifteen communities received awards in categories such as building rehabilitation, private investment, and volunteer investment. A milestone for the entire group was the first $100 Million Award for Private Investment, earned by the Old Town Development Board and the City of Winchester. Culpeper Renaissance, Inc. received special recognition for their Be a Culpeper Local campaign. The full list of award recipients is available here.

Congratulations to all of this year’s recipients.

Martinsville Courthouse Historic Virginia Site of the Month

The Department of Historic Resources (DHR) posted a new slide show for their web feature “Historic Virginia, Site of the Month.”  This month DHR features images and highlights of the changing nature of the circa-1824 Henry County Courthouse, which found new life in 2010 thanks to grants from Save America’s Treasures and the local Harvest Foundation.

The site and courthouse have gone through considerable alterations since Martinsville was established as the seat of Henry County in 1791, with a log courthouse originally built in 1793. A two-story brick courthouse was built in 1824, but all that’s immediately recognizable of that structure are the four columns of the front portico.  Today the 1929 remodeled courthouse is a “contributing” building to the Martinsville Downtown Historic District.

The preservation of the building was spearheaded by Martinsville-Henry County Historical Society (M-HCHS), who from1996 through 2010 worked diligently in phases to restore the courthouse building and adaptively reuse it for the community. In partnership with the County and national and local advocates, M-HCHS reports that the project, originally estimated at more than $1 million, was accomplished for less than $200,000.

The restored building now houses a Heritage Center & Museum, the historical society, and an information center for the New College Institute.  Additional information about the sites in downtown Martinsville can be found on the Martinsville Uptown Revitalization Association website.