Governor Youngkin Announces More Than $24.7 Million in Industrial Revitalization Funds

RICHMOND, VA - Governor Glenn Youngkin today announced more than $24.7million in 20 Industrial Revitalization Fund (IRF) grants. IRF grants provide gap financing for construction projects aligned with local and regional economic development strategies, primarily in distressed communities. 

“The transformation of older, vacant or blighted structures into productive, usable spaces is crucial to catalyzing economic growth to create thriving communities,” said Governor Glenn Youngkin. “The Industrial Revitalization Fund continues to be an important resource for those redevelopment efforts, spurring regional partnerships, economic development and job growth across the Commonwealth.”

The Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties.

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