Hampton Roads businesses, organizations to receive thousands in grants for investment projects

Posted at 1:35 PM, Oct 20, 2021
and last updated 2021-10-20 13:35:30-04

HAMPTON ROADS, Va. - Several businesses and organizations in Hampton Roads have been awarded thousands in grants for investment projects.

Governor Northam announced Wednesday that local business owners and community organizations will benefit from more than $4.4 million in grants for 33 investment projects across the state. Several projects will take place right in the Hampton Roads area.

According to a release from the Northam administration, these projects will create and support business development, economic recovery, and the redevelopment of industrial and commercial structures.

“This is about renovating old buildings, investing in neighborhoods, and launching new businesses,” said Governor Northam. “These projects will greatly benefit Virginia’s local economies and business owners.”

The Industrial Revitalization fund redevelops deteriorated structures. Community Business Launch grants will help prepare businesses for success as entrepreneurs can receive training and help with developing business plans. The Virginia Statewide Business District Resurgence grant supports historically economically disadvantaged communities and business districts that have been disproportionately impacted by the pandemic.

The following Hampton Roads organizations and businesses were awarded grants:

2022 Industrial Revitalization Fund Awardee:

  • 2510 Jefferson Avenue Building in Newport News| $250,000
    • The City of Newport News will renovate a 1930-building into retail and office space with this grant. The project is expected to create and/or support 11 full-time positions.

2022 Virginia Statewide Business District Resurgence Grant Awardees:

  • 757 Makerspace - Peninsula Expansion | $100,000
    • A spin-off of the 757 Makerspace in Norfolk, this project creates access to the same resources North of the James and expands access to these resources closer to innovators affiliated with NASA, Langley AFB, Newport News Shipbuilding, VIMS, Hampton University, William & Mary, and all of their suppliers. This project will be executed in partnership with Hampton Public Schools’ vocational/technical programs. They will utilize the StartWheel online platform to promote entrepreneurial activities and early-stage startup businesses in the area.
  • Expansion of Bloom Co-Working Space and Incubator in Portsmouth| $100,000
    • The Partnership Development Foundation will support the expansion of the Bloom coworking and incubator space in Portsmouth. This space will target Portsmouth small businesses and veterans, minorities, persons with a disability, and women.
  • Childcare Business Support in the Historic Triangle | $100,000
    • Inner Peace Coalition Inc., in partnership with James City County Department of Social Services, will provide business support services to small, woman-, minority- and immigrant-owned businesses in the Historic Triangle area, with an emphasis on businesses providing child care services. They will train at least 150 entrepreneurs and create at least two new businesses.
  • Southeast Commercial District Business Assistance in Newport News| $86,000
    • The Newport News Economic Development Authority (NNEDA) will support existing small business growth and entrepreneurship in the southeast commercial district. This is a historically underserved and disadvantaged area of Newport News. In partnership with the Women's Empowerment Development, NNEDA plans to offer hands-on technical and financial assistance.
  • Southeast Community Commercial District Strategic Action Plan | $50,000
    • Womens Empowerment Development Inc., (WED), in partnership with the city of Newport News Economic Development Authority (NNEDA), will develop a strategic action plan for the Southeast Community in the historic Jefferson Avenue and Chestnut Avenue commercial districts.
  • B-Force Accelerator in Portsmouth| $50,000
    • Black Brand will expand capacity of the existing microenterprise assistance, B-Force Accelerator program. This expansion will provide technical assistance and training workshops to early stage minority business owners to increase their ability to access capital, scale up, increase revenue, decrease expenses, and develop a professional network.

For a full list of awardees throughout the Commonwealth, click here.