Local Business and Economic Development

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Regional Partnership names familiar face as new director

Published January 5, 2021 | By Gene Marrano

(release) The Roanoke Regional Partnership announced today that John Hull has been named executive director. He replaces Beth Doughty who retired after 22 years with the regional economic development organization. Hull has served in several roles at the Partnership as director of marketing intelligence since 2010 and more recently as acting director of business investment and as executive director of the Western Virginia Regional Industrial Facility Authority.

He was regional economic development manager with the Roanoke Valley Alleghany Regional Commission from 2003-2010. A graduate of Roanoke College, the University of Oklahoma’s Economic Development Institute, and the Roanoke College Management Institute, Hull also has earned the certified economic research professional designation from the Council for Community and Economic Research. “I appreciate the confidence of the Partnership’s leadership and am honored to have the opportunity to lead this strong team at a pivotal time in our region and nation,” said Hull:

RAMP is accepting applications for Health & Life Science Cohort

Published January 5, 2021 | By Rachel Meell

Mary Miller, Director of RAMP

The Regional Acceleration and Mentoring Program will be able to help two rounds of technology business startups this year and are accepting applications for their spring cohort. WFIR’s Rachel Meell explains what RAMP does to help support local innovation:

To apply for the RAMP Health and Life Science Cohort, click here.

More help on the way for Virginia small businesses

Published December 29, 2020 | By Gene Marrano
RICHMOND—Governor Ralph Northam today allocated an additional $20 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to the Rebuild VA economic recovery fund to meet demand for the program and fulfill pending grant applications. This new funding will bring the program total to $120 million and will enable more than 300 small business and nonprofit organizations that applied before the last round of funding was exhausted in early December to receive grants. Eligible applicants that are still in the pipeline have been notified via email that their applications have been re-opened.
Earlier this month, Governor Northam announced that Rebuild VA had fully committed the $100 million in federal funds previously allocated to the program, which provided grants to 2,500 small businesses and nonprofits whose normal operations were disrupted by the COVID-19 pandemic. More than 45 percent of the available funding was awarded to nearly 1,000 small businesses and nonprofits located in low-income and economically disadvantaged communities and about $50 million was awarded to women, minority, and veteran-owned businesses. To date, Rebuild VA has received nearly 20,000 applications and the average grant award was $35,636.
“Small businesses and nonprofits are among those hit hardest by the pandemic, and many are bracing for an uncertain few months ahead as the virus surges and we await the widespread availability of the vaccines,” said Governor Northam. “Virginia’s small business community remains diligent in protecting the health and safety of their employees and customers, and we must continue to support them in every way we can. With Congress finally acting on a long-overdue relief package, I am also grateful that Virginia businesses will now have another opportunity to apply for the Paycheck Protection Program in the near future.”
Administered by the Department of Small Business and Supplier Diversity (SBSD), Rebuild VA launched in August with $70 million in CARES Act funding. Governor Northam directed an additional $30 million to the program in October and SBSD expanded eligibility so that businesses with less than $10 million in gross revenue or fewer than 250 employees could apply.

VA hemp, CBD industry gets a boost with new investment

Published December 28, 2020 | By Gene Marrano
Virginia’s fledgling hemp industry will gets a boost as Governor Northam announced today that Shenandoah Valley Hemp, doing business as Pure Shenandoah, will invest more than 3 million dollars to build an industrial hemp fiber processing and CBD oil extraction plant in the Town of Elkton. The company will create 24 new jobs and has committed to purchasing 100 percent of its industrial hemp from Virginia growers – resulting in nearly 5 million dollars in payments to Virginia farmers over the next three years
(release from Governor’s office) RICHMOND—Governor Ralph Northam today announced that Shenandoah Valley Hemp, LLC dba Pure Shenandoah will invest nearly $3.3 million to establish an industrial hemp fiber processing and cannabidiol (CBD) oil extraction facility in the historic Casey Jones building in the Town of Elkton. The company will create 24 new jobs and has committed to purchasing 100 percent of its industrial hemp from Virginia growers, resulting in nearly $5 million in payments to Virginia farmers over the next three years. Pure Shenandoah will become the first participant in the Virginia’s Finest trademark program to source the hemp used in its products exclusively from the Commonwealth.
“Virginia’s industrial hemp industry continues to experience tremendous growth, creating a wealth of opportunity across our Commonwealth,” said Governor Northam. “Projects like this one are an important part of diversifying our economy and developing new markets for industrial hemp. Our administration remains committed to supporting growers and processors as we work to ensure this crop has a sustainable future in Virginia.”
Pure Shenandoah operates as a vertically integrated “seed to sale” company providing customers with safe and consistent hemp products of the highest quality. This includes strict regulatory control of crops, the application of certified good manufacturing practices, and complete traceability of each product back to the seed and farm from which it came.
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