[ad_1]
LYNCHBURG, Va. (WDBJ) – The Downtown Lynchburg Association received $115,000 to launch a new business program with the goal of filling vacant storefront spaces in the downtown area.
This is an announcement of Governor Glenn Youngkin’s $180,000 Community Business Launch (CBL) grants to the Downtown Lynchburg Association, Nelson County and the Waynesboro Economic Development Authority.
Historically, funds have been allocated directly from the common wealth and awarded through a competitive process.
“This is the largest amount of money we’ve ever raised and the first time our organization has really gone out there and raised that amount,” said Ashley Kershner, executive director of the Downtown Lynchburg Association.
One store owner said she has been in business for more than 40 years and is excited to see the difference the money can make.
“Business needs to come downtown, we need more business,” said Susan Horsley, owner of the Wig Center in downtown Lynchburg.
The search for help began with the need to fill vacant properties around Lynchburg that have plagued the Hill City for years.
“We currently have 25% store vacancy in downtown Lynchburg. Things are growing, things are expanding, there’s a lot going on here but we think we can accelerate our growth and get more services…more businesses here,” Kershner said.
In addition, $90,000 was allocated to Launch LYH from the grant: The Trust Foundation donated $25,000 to help minority business owners get storefronts.
“Historically minority businesses have not had the same access to resources, capital, information that non-minority owners have, so we want to provide those opportunities. We want to make sure we’re specifically targeting those individuals. “We’ll have help for everyone who needs it to make sure we save some money,” Kershner said.
Selected candidates can receive from $5,000 to $25,000.
The new program is scheduled to begin in early 2023.
Copyright 2022 WDBJ. all rights reserved.
[ad_2]
Source link
