Last week, Fiscal Year 2024 Community Business Launch (CBL) grants were announced, and $410,000 will assist the awarded communities with hosting a business curriculum and business pitch competition to fill vacant storefronts in their commercial districts. Grantees include three previously awarded communities, Lynchburg (Downtown Lynchburg Association), Covington, and Petersburg (Metropolitan Business League), as well as three newly awarded communities including Stanardsville (Stanardsville Area Revitalization), Waverly and Wise.
Every year, the CBL program supports historic districts, commercial corridors, and neighborhood commercial districts across the Commonwealth to reactivate previously vacant real estate by investing in local entrepreneurs that will either create or expand new businesses in those vacant spaces. Last year, CBL awarded three communities (Lovingston, Lynchburg and Waynesboro) and trained 54 entrepreneurs, created 9 new and 5 expanded businesses, supported 17 new jobs, and generated over $1 million in private investment. Since CBL funded businesses have until September 30 to open, project outcomes are still increasing.
New and expanded businesses as a result of CBL are as diverse as the communities they locate in, from gluten-free bakeries to custom sewing and design and many more. As we move into 2024, we look forward to grantees beginning business curriculum and anticipate exciting results!
Virginia Main Street 