Warner & Kaine Announce Nearly $1 Million in Federal Funding for Infrastructure and Economic Development in Floyd County
Jan 31 2022
WASHINGTON — Today, U.S. Sens. Mark R. Warner and Tim Kaine announced $971,639 in federal funding from the Appalachian Regional Commission (ARC) awarded to the Economic Development Authority of Floyd County to develop the Floyd Regional Commerce Center. The funds will be used to construct an access road, an industrial cul-de-sac, and a pedestrian and bike path that will stimulate economic growth and support the creation of an estimated 130 new jobs in the region.
“We’re pleased to see Floyd County receive this additional federal resource to finish construction of a new access road,” said the Senators. “This funding will create good-paying jobs and bolster economic development in the region.”
This funding is in addition to the more than $1 million in federal assistance that Sens. Warner and Kaine announced in September 2017. VDOT and the Federal Highway Administration (FHWA) are administering the project.
In August, Sen. Kaine visited the Floyd Innovation Center to learn more about their work to support entrepreneurs and growth-oriented businesses including in specialty foods and other products. He also gathered feedback on how he can help support small businesses at the federal level.
ARC is an economic development partnership agency of the federal government and 13 state governments, including Virginia, aimed at investing in community capacity and strengthening economic growth in the Appalachian region. In Fiscal Year 2020, ARC supported 42 projects totaling $11.1 million and created or retained 4,600 jobs in Virginia.