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Lynchburg Regional Business Alliance Awarded Grant for Feasibility Study

(Lynchburg, VA)- The Lynchburg Regional Business Alliance is proud to announce it has been awarded a Project Support Fund grant by the Tobacco Region Revitalization Commission in the amount of $17,000.
 
The grant was awarded for a feasibility study for a small-scale manufacturing incubator at Virginia Technical Institute (VTI) located in Altavista. VTI is a NCCER certified training facility, and they currently provide training for occupations such as electricians, welders, plumbers, industrial maintenance technicians, and more. The facility currently has vacant space that could accommodate the concept for a small-scale manufacturing incubator and this grant will explore a concept for future growth.
 
“VTI possesses a unique opportunity because there is a vision for a start-up manufacturer to not only occupy space, but to also collaborate with the school to provide on-the-job training opportunities. At the Alliance, we focus on cultivating talent and generating jobs, and we feel this is the perfect opportunity to explore a concept that can do both. We are very grateful to our partners at the Tobacco Commission for helping move this project forward,” said Jamie Glass, Director of Economic Development for the Lynchburg Regional Business Alliance.
 
The feasibility study will provide floorplan options, a comparative analysis of existing industrial incubators to gather information and data on physical layouts, programmatic components in the physical space, management/oversight (organizational review), funding and finance of operations, and any other pertinent information that might be useful in development of the facility as envisioned.
 
VTI is a 501(c)(3) committed to workforce development. We see this as an opportunity to broaden our outreach. A business incubator will give existing businesses an opportunity to expand, new businesses an opportunity to take root in our community, and our students an opportunity to develop their skills. It will also allow for greater employment opportunities to our residents. Under one roof we will see education, workforce development, business expansion, and entrepreneurship come together. I believe this is a holistic model designed for success,” said David Sage, Executive Director of VTI.
 
“Partnering on a project like this enables Campbell County Economic Development to support new and growing manufacturers in the area. I am frequently contacted by businesses looking for space, specifically to stabilize their company while they are planning for short-term and long-term expansion. Offering a physical space like this paired with the proximity to the future workforce is a great opportunity for the VTI students and the future business tenants alike,” said Nina Rezai, Economic Development Manager for Campbell County.

Contributing partners on the project include, Virginia Technical Institute, the Town of Altavista, and Campbell County. The grant required a cash match that was contributed by all partners, and the Alliance will serve as the administrators on the project.  The study will be completed no later than December 1, 2022.
 
About the Lynchburg Regional Business Alliance
The Lynchburg Regional Business Alliance is the region’s oldest and largest business and professional association. As a combined chamber of commerce and economic development organization, the Alliance serves as the united voice for the Lynchburg region’s business community. For nearly 750 local organizations and their employees, our mission is to lead regional economic development through: Generating Jobs & Investment; Promoting the Region’s Brand and Image Globally; Cultivating Talent, and Enhancing the Business Climate.

To learn more about the chamber side of the Alliance, please visit us at: LynchburgRegion.org 

To learn more about our economic development work, please visit: YesLynchburgRegion.org 
 
Contact Information
Jamie Glass
Director of Economic Development
Lynchburg Regional Business Alliance
(434) 941-3981 │ jglass@lynchburgregion.org