Bedford receives economic development funds

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RICHMOND, Va. (WFXR) — Gov. Ralph Northam announced several towns will receive a grant to invest in economic development projects.

The Industrial Revitalization Fund (IRF) grants “provide gap financing for construction projects aligned with local and regional economic development strategies, primarily in distressed communities,” according to the governor’s office.

The town of Bedford received $400,000 for its Bedford school campus redevelopment project. The city of Covington received $240,000 for the Alleghany Highlands Industrial Heritage and Technology Discovery Center.

“With these grants, we are investing in projects that will transform older, vacant buildings, bringing bring new life and purpose to their communities and spurring new jobs and positive growth across our Commonwealth,” Gov. Northam said.

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