The GO Virginia State Board has authorized the use of $14.66M in statewide competitive funds (FY20) to respond to the unprecedented economic conditions facing Virginia due to the near and long-term effects of the coronavirus on regional economies. This initiative will focus resources on economic resilience and recovery while staying true to the GO Virginia mission.
Regional Councils are eligible to apply for up to $1.0M with $5.66M in reserve for all regions for extraordinary need or extraordinary positive economic impact. In order to move resources quickly, DHCD will offer a Fast Access process and use its administrative approval authority for grant applications of $100,000 or less. Regions may access up to $300,000 of their $1.0M pool using the Fast Access process. Applications will be received on a rolling basis.
Funds may not be used for direct grants to businesses, to capitalize loan pools, or provide seed or other equity investments in firms. Funds may not be used to provide scholarships or to acquire real estate. This program is time limited, with an initial 12-month application window (April 18, 2021) unless extended by the GO Virginia State Board.
Key Program Activities
- Reevaluate priorities in Growth & Diversification plans
- Prioritize identified industry targets based on immediate impact and influence on the regional economy
- Assess community & business needs
- Focus resources on actionable strategies that expand or build needed capacity and that support sustaining and expanding firms in targeted industry clusters and/or highly-impacted locally traded sectors as identified by the Region One Council
- Expanding regional capacity to coordinate and deliver business support services such as access to financing
- Accessing and utilizing the internet for e-commerce to increase sales
- Identifying and connecting critical suppliers of goods and services to reduce service and production disruptions
- Expanding workplace health and sanitation activities to support continuity of operations or return-to-work efforts
- Maintaining and managing a remote workforce to keep people employed and productive
- Developing new industry-aligned on-the-job training program that would meet critical need
- Expanding existing training programs that have been identified as mission-critical
- Facilitating job/training program placement in partnership with existing employer or workforce intermediary needs
- Providing technical assistance to retain and/or support impacted employees
- Must have two or more localities participate
- Letters of support demonstrating meaningful participation (if no local match is provided)
*If local match is included, can be cash or in-kind.
- 2:1 Match
- Non-state sources of revenue only
- No local match required
*Relaxed match is active 4/18/2020 – 10/30/2020 on all GOVA applications. The relaxed match is ongoing for ERR projects through the life of the program.