The state of Virginia has approved $1 million in Industrial Revitalization Funds for a Rockbridge County project that aims to transform a former textile plant.
The plans for the former Stillwater Worsted Mills textile plant building in Goshen include a museum and a preservation workshop to be operated by the Virginia Mechanical Preservation Society, and a forest-to-finish wood manufacturing factory to be operated by North Fork Lumber & Log Homes, focusing on the construction of log cabin tiny homes.
The grant announcement was made on Monday. The announcement, from the office of Gov. Glenn Youngkin, also included news on two successful grants in Pamplin and Tazewell.
“These remarkable projects will breathe new life into dilapidated structures that have been obstacles to economic growth, transforming them into sources of jobs, tourism and community pride,” Youngkin said. “IRF funding allows us to make holistic investments in our infrastructure that will directly benefit our communities while energizing our regional development efforts.”
The IRF program is targeted toward vacant non-residential structures whose poor condition creates physical and economic blight to the surrounding area in which the structure is located. Five proposals were received this funding round and reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of impediments to economic development efforts, alignment with regional or local strategies, availability of matching resources, the level of community distress where the property is located, and an identified and feasible end use.
“The transformation of older, vacant or blighted structures into productive, usable spaces is crucial, both to encourage local investment and to remove obstacles impeding future growth,” Secretary of Commerce and Trade Caren Merrick said. “IRF funds enable us to grow our economy while strengthening small businesses and investing in the continued vibrancy of our communities.”
Since 2012, the IRF program has funded 73 projects that have revitalized vacant, blighted buildings. These projects have generated more than $277 million in additional public and private investment and resulted in the creation of more than 1,500 jobs across Virginia.
For more information on IRF, visit dhcd.virginia.gov/irf.
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Chris Graham
