Historic tax credits helped make the State Theatre restoration possible. The State Theatre Foundation used $1.6 million in federal historic tax credits and an additional $1.6 million in state historic tax credits.

“The State Theatre has all the ingredients of the type of project that the historic tax credit was designed to support: an iconic historic building, great community benefit and a top-notch rehabilitation that would be difficult, if not impossible, to finance using only conventional sources,” John Leith-Tetrault, president of the National Trust Community Investment Corporation, the National Trust’s for-profit subsidiary and a tax credit investor in the State Theatre project.

For more information on historic tax credits, contact the Virginia Department of Historic Resources.

The State Theatre joins several other restored and fully operational historic theaters in Virginia Main Street communities, including the Barter Theatre in Abingdon (built 1933), the Paramount in Bristol (built 1931), the Lincoln Theatre in Marion (built 1928) and the Visulite (built 1937) and Dixie Theater (built 1912) in Staunton. Hopewell’s Beacon Theater (built 1928), Lynchburg’s Academy of Music (built 1905) and Waynesboro’s Wayne Theatre (built 1926) are all currently undergoing multi-million dollar restorations and will soon, once again, be entertainment destinations in their regions. A full list of Virginia’s historic theaters is available from the League of Historic American Theatres.

Representatives from Lynch’s Landing Foundation and the city of Lynchburg accept awards for more than 90,000 volunteer hours dedicated to downtown revitalization and more than $100 million of private investment in Lynchburg’s historic commercial district since 2000. The awards were presented by Secretary of Commerce and Trade Jim Cheng and VMS Program Manager Jeff Sadler.

At the ceremony that focused on the results of Main Street efforts, Virginia Secretary of Commerce and Trade Jim Cheng spoke to the audience of more than 70 downtown revitalization volunteers and professionals about the visible results of their leadership. “Virginia main streets are thriving because of the collaboration between public and private sector, local and state governments and the citizens of each community getting involved to make their downtowns an attractive place to live, work and play,” said Cheng.

The Virginia Department of Housing and Community Development Director Bill Shelton pointed to downtown progress through the numbers. “In the last five years, designated Main Street communities have sparked more than $252 million in private investment in their districts,” said Shelton. “As a result, last year, there was a net collective gain of 424 jobs across the 25 Main Street downtown districts.”

“Historic Main Street communities are much more than bricks and mortar. They serve as the heart and soul of our communities as they evoke the stories of our past while providing incomparable economic and cultural opportunities which sustain the quality of life for all citizens,” said Cate Magennis Wyatt, former Virginia Secretary of Commerce and Trade and the founder of The Journey Through Hallowed Ground Partnership. “Our national surveys have found that 84 percent of potential visitors are, first and foremost, attracted to the region because of our quaint small towns. The work of the Virginia Main Street Program is critically important to creating jobs and attracting these visitors to the commonwealth.”

 Below is a list of award recipients:

 Volunteerism Milestone Achievement Awards
1,000 Volunteer Hours
St. Paul Tomorrow, Inc.
5,000 Volunteer Hours
Advance Abingdon
Downtown Blackstone, Inc.
20,000 Volunteer Hours
Berryville Main Street
Orange Downtown Alliance, Inc.
25,000 Volunteer Hours
Waynesboro Downtown Development, Inc.
55,000 Volunteer Hours
Historic Manassas, Inc.
80,000 Volunteer Hours
Harrisonburg Downtown Renaissance
Staunton Downtown Development Association
90,000 Volunteer Hours
Lynch’s Landing Foundation

Private Investment Milestone Achievement Awards
$100 Million in Private Investment
Lynch’s Landing Foundation and the city of Lynchburg
$110 Million in Private Investment
Winchester Old Town Development Board and the city of Winchester

Building Improvement Milestone Achievement Awards
250 Building Projects
Main Street Radford, Inc. and the city of Radford
500 Building Projects
Staunton Downtown Development Association and the city of Staunton

Special Achievement Awards
Marion Downtown Revitalization Association
Believe in Bristol

25 Years of Main Street
Culpeper Renaissance, Inc. and the town of Culpeper
Historic Manassas, Inc. and the city of Manassas

Entrepreneurs developing business plans and seeking financial resources, community support and education and training should plan to attend the summit. Key announcements at the Summit will include details on the Entrepreneur Challenge, a competition for start-up and expanding businesses with more than $30,000 in cash awards for businesses developing strategic business plans.  In addition, Virginia Community Capital will provide an update on the progress of the region’s new Angel Investment Fund.

Entrepreneurs and investors will learn of local initiatives in the area that will provide grounds for future business growth, including efforts of the Southwest Virginia Cultural Heritage Foundation, Spearhead Trails, the Clinch River Valley Initiative and the Blueprint for Entrepreneurial Growth and Economic Prosperity in Southwest Virginia.

Summit topics will include: tourism business opportunities, technology business opportunities, Main Street initiatives and business basics including writing a business plan, etc. Instruction will be provided by Virginia Department of Business Assistance, People, Inc., Virginia Small Business Development Centers, Virginia Tourism Corporation  and the Virginia Department of Housing and Community Development.

The April 23 event will run from 9 a.m.-3 p.m. at the Southwest Virginia Technology Development Center in Lebanon.

A vendor expo will provide future entrepreneurs an opportunity to meet and speak with local county and town representatives who will provide business information and incentives for new entrepreneurs.  Resource agencies will provide expo information and assistance to entrepreneurs and small business owners.

The collaborative initiative, driven by local, state and regional partners will focus on tools for new entrepreneurs, strategies for making the region’s communities attractive for private investment and new technologies for the region’s businesses.

The summit is open to community leaders, residents, existing businesses and those considering starting a business in the region.  It is free with advance registration and will include breakfast and lunch provided by the sponsoring partners. Registration is online at vastartup.org.  For more information, call Brandi Hall at (276) 889-8188.

A mission statement speaks to what the company is now. It concentrates on the present, is short-termed and informs the organization’s desired level of performance.

A vision statement outlines what a company wants to be. It concentrates on the future and is long-termed. It is meant to inspire and challenge, as well as to provide clear decision-making criteria.

An effective mission statement should address the following:

• Purpose and values of the organization
• Who are the organization’s primary clients?
• What are the responsibilities of the organization towards these clients?
• What are the main goals and objectives that support the organization in accomplishing its mission?

An effective vision statement should:

• Be clear and unambiguous
• Provide a clear snapshot of the organization’ future
• Be inspirational and provide hope
• Be memorable
• Align with organizational values and culture

“Capitalism is creative destruction,” Richard Sylla stated in a recent Entrepreneur article. “Old models get outmoded, and new models come in and take over.”

Just as Main Street organizations must create effective fundraising plans to secure diversified and stable program funding, retailers must make every effort to diversify their customer base to ensure stable and growing revenue streams. The article in Entrepreneur states that the future of retail will have some online component and some offline component. Catering to consumers wherever they are,and in a robust, customized way, is a key growth strategy. Online sales accounted for 5.2 percent of total retail sales in the third quarter of 2012, according to the latest reading from the U.S. Department of Commerce, which tracks the category. That was up 17.3 percent from the same quarter a year earlier. By contrast, total retail sales over the period rose by only 4.6 percent.

Main Street Economic Restructuring committees should provide training to help their local Main Street retailers develop a balanced online/offline business strategy. For example, in January, Longwood SBDC guest speaker Marc Willson, retail consultant for Virginia SBDC, provided two free trainings for area retailers directly related to this topic. The first session, “Doing Business in a GAFA World,” GAFA stands for Google, Amazon, Facebook, Apple, was designed to help retailers attract more traffic and improve sales by smartly embracing relevant social media technologies and strategies. The second session, “Competing with the Big Boys,” reiterates that big box stores and national chains are strong competition for local, independent retailers and that these retailers need to have a strategy to keep their existing customers buying and to win new customers. More information about trainings provided by Marc Willson are available here.

In his article titled “Fostering entrepreneurialism: Making economic gardening work downtown,” Chuck Eckenstahler lists seven things to consider when developing an “economic gardening strategy.”

1.       Help surmount the hurdles – Provide assistance with navigating through and completing legal and regulatory requirements of establishing or expanding new businesses.

2.      Host entrepreneurial cafes – For many new entrepreneurs, traditional physical space is not as important as it once was. Providing a ‘space’ (bricks and mortar or cyber) where entrepreneurs can network and share ideas, if applicable to the locality, should be part of the strategy.

3.       Carve out opportunities within the economic landscape – It is important for both the entrepreneur, as well as the host community, to identify the existing supply and unmet demand of retail goods and services. This typically lies on the shoulder of the entrepreneur, however, Eckenstahler and many economic development practitioners would argue that to ensure successes, this should be a shared responsibility.

4.       Raise capital to create a Shark Tank – Many businesses fail due to lack of capital. “Community economic development strategies may require assembling social venture capitalists,” or other creative financing mechanisms like crowdfunding.

5.       Support population diversity – “Create support programs that celebrate population diversity and embrace groups that have a high propensity to form new businesses.”

6.       Create a “Match-up” marketplace – Create opportunities to match the “entrepreneurs’ needs with available support capacities.”

7.       Celebrate success – Create a media campaign that regularly highlights new business formations and promotes the locality/region as one that supports new business startups.

“Adding some or all of these suggestions to your economic gardening strategy will enrich the soil for planting the seeds of new business.”

Photo from: http://myswva.org/

Brooke Jarvis’ recent post titled: 3 Lessons for Appalachia’s Post-Coal Economy, addresses the very pertinent question of “what happens when Appalachia is coal country no more?”

Brooke mentions the efforts of local, grassroots organizations that are “working to reform old industries and promote more sustainable ones, to build local entrepreneurial capacity and to make sure the region’s resources benefit residents over the long haul.”

In Virginia and all throughout Appalachia, there are ongoing efforts to build more diverse and resilient economies that take advantage of the rich cultural history and breathtaking natural resources the region has to offer.  

Photo from: http://myswva.org/

The Crooked Road, Virginia’s Heritage Music Trail includes 10 counties, three cities, 10 towns, five regional planning districts, four state agencies, two tourism organizations and a large number of music venues. Although the trail is focused on the uniqueness and vitality of this region’s heritage music, it also includes outdoor recreational activities, museums, crafts and historic and cultural programs. ‘Round the Mountain has focused its efforts to promote sustainable economic development of the region’s communities by assisting local artisans with marketing, educational and entrepreneurial opportunities. These great initiatives are part of a larger strategy to reinvigorate the economies of Virginia.  The Southwest Virginia website is a great resource for everything related to this region.

Plan your trip and come learn about the people who lived in coal camps and company towns. See photos and quilts, listen to stories and oral histories, visit churches, cemeteries and museums in towns across our region and visit the buildings and communities which remain bear witness to our rich history.

Photo from: http://myswva.org/

Pictured are Pop Up Marion Boot Camp graduates. Marion is looking for a second round of boot camp applicants.

The initial funding was provided by Virginia Main Street through a competitive grant process.  Executive director Ken Heath found additional funds to help sweeten the pot. 

“Radio stations WOLD/WZVA jumped on board to offer $1,000 to each of the contest winners,” said Heath.  “The Chamber of Commerce of Smyth County provided free membership for the winning businesses, and our downtown Wells Fargo Bank was so excited that they provided an additional $5,000 to help us provide the funding for another startup to join our downtown business family.” 

The successful project brought two new businesses to Marion’s Main Street district, and MDRA is ready for round two. To qualify for start-up funding, entrepreneurs have to go to small business boot camp, designed especially for the types of businesses that Marion’s Main Street needs. 

“We completed a community survey that gave us great information on what types of businesses our area would most likely support,” said Heath.

Partnering with People Inc., the Virginia Department of Business Assistance and the local sponsors, MDRA’s program provides eight sessions of classroom instruction for those thinking about starting a business.  

“The modules are designed to be a great way to get someone ready to start a business through the boot camp process,” said Heath, “but each class stands alone so that if someone is interested in just one or two sessions, they are welcome to attend and sharpen their skills.”  Heath says he believes that offering continuing opportunities for growing and adapting small businessed is key to success at all stages of the business’s life.

Seating preference for the boot camp will be given to entrepreneurs who want to explore opening businesses downtown, but everyone interested in participating will be welcome to attend as space allows.  The classes are free, but registration is required.  Those interested in the pop up grant program MUST attend all eight sessions, successfully present a business plan and open a business in downtown Marion within 90 days following “graduation”.

Believe in Bristol’s Downtown Entrepreneur’s Ideaspace

While caught up in the details of drafting board by-laws, choosing downtown bench designs, training volunteers or coordinating downtown merchant coffee hours, it is easy for Main Street board and committee members and staff to forget that the primary goal of the Main Street organization is the economic redevelopment and revitalization of the local historic commercial district.

That probably won’t be a problem for the folks at Believe in Bristol (BiB). BiB recently opened a new office/Downtown Entrepreneur’s Ideaspace. The ideaspace will provide downtown entrepreneurs access to technology, meeting space and training to help them establish and grow new businesses downtown. To celebrate the opening of the ideaspace, BiB provided a free entrepreneur basics workshop (taught by People, Inc.) and a mobile marketing workshop (taught by the Virginia Deptartment of Business Assistance).  Believe in Bristol’s new small business resource center was funded, in part, by a $20,000 Virginia Enterprise Initiative (VEI) Innovation Grant. Last year’s Innovation Grants also funded downtown business development initiatives in the Main Street communities of Staunton (including an innovative hours exchange program) and Waynesboro (which is developing the Waynesboro Innovative Student Entrepreneur Competition, which will help fill empty storefronts along Main Street). VEI Innovation Grant applications will be accepted in January 2013.

• Look at downtown as if you are a first-time visitor. What is positive? What needs improvement?
• Invite a Main Street volunteer or manager from another community to talk with a group of community leaders about what that community and organization has accomplished and how the program works.
• Recruit board members and take them to other downtowns to meet with peers, hear about what does and does not work, and see how your downtown compares.
• Adopt articles of incorporation and bylaws, and register with the State Corporation Commission.
• Decide if you can afford to hire a program manager, or more importantly, if you can afford not to! Agree on an employment contract and performance plan, schedule orientation and training, select an office location, etc.
• File for 501 (C)  tax exempt status with the federal Internal Revenue Service.
• Develop job descriptions for board members, officers, committee chairs and staff.
• Recruit and educate your committees, use slide and video shows and give them appropriate information to read in small doses.
• Schedule “downtown walkarounds” with your board and committee members. Get to know every square inch and what is good or bad.
• Work with the board and committees to set up regular meeting schedules.
• Set up meetings with stakeholders and partners including:
  • all downtown business and property owners;
  • local elected officials, city manager and department heads;
  • leaders from financial institutions, industry and utilities;
  • Chamber of Commerce board and staff;
  • other important community groups (historical, tourism, arts and cultural, etc.) and set up presentations to their membership if desired; and
  • the media.
• Have a reception to introduce the program and board members to the community.
• Have the board develop a workplan that includes your vision for downtown, the organization’s mission and prioritized annual activities assigned to committees with timeframes, individuals assigned to implementation and budget allocations.
• Draw up a budget and have it correspond to the workplan. Set up financial control systems.
• Develop a fundraising plan, including a list of potential supporters.
• Solicit volunteers for key projects, create a volunteer file and develop a volunteer recognition system.
• Select public relations tools to get the word out such as brochures, newsletters and newspaper columns.
• Develop a media list for mailing press releases.
• Begin to build a clearinghouse of resource material. Collect and read anything pertinent, such as community plans, studies, newspaper articles, promotional brochures, previous meeting minutes, ordinances, newsletters, etc. Order necessary periodicals. Start a file system and scrapbook for the organization.
• Identify economic development resources and recent or proposed projects.
• Identify historic preservation resources and recent or proposed projects.
• Review the existing promotions calendar, and collect information on past promotional events.
• Do an inventory of downtown including buildings, businesses, parking, etc. Include photographs.
• Develop a network with other Main Street managers.  Ask questions and get info on their programs.
• Join the National Main Street Network and the Virginia Downtown Development Association, circulate their newsletters and encourage board members, committee members and staff to attend their conferences.
• Apply to become a DHCD Virginia Main Street Commercial District Affiliate.

Share this list with your downtown stakeholders by printing an Adobe Acrobat .pdf version of this list here.