Governor Glenn Youngkin Announces More Than $1.8 Million in Industrial Revitalization Funds 

On August 12, 2024, Governor Glenn Youngkin announced over $1.8 million in Industrial Revitalization Funds (IRF) for Rockbridge County and the towns of Pamplin and Tazewell creating over 25 jobs and adding $2.5 million in private investment.  

“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,” said Governor Glenn Youngkin. “IRF funding allows us to make holistic investments in our infrastructure that will directly benefit our communities while energizing our regional development efforts.”  

IRF uses local and private resources to redevelop vacant and deteriorated industrial and commercial properties. The program is targeted toward vacant non-residential structures whose poor condition decreases the economic value of the area.  

“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,” said Secretary of Commerce and Trade Caren Merrick. “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 buildings. The 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.