The U.S. Department of Commerce has announced a grant of $3.4 million to Advantage Valley, Inc., for renovations to the former Vossloh Track Building in West Virginia. The grant was announced by U.S. Secretary of Commerce Gina Raimondo and is part of the Department’s Economic Development Administration (EDA) initiative.
The grant is aimed at job creation and encouraging private investment by attracting new businesses to the region. Local funds amounting to $857,750 will match this EDA investment. These renovations are part of President Biden’s Investing in America agenda, which aims to provide resources necessary for strong, resilient regional economies across the country.
Secretary Raimondo stated that the investment will support infrastructure improvements and spur economic growth, private investment, and job creation in the Charleston region. Assistant Secretary of Commerce for Economic Development, Alejandra Y. Castillo, highlighted the EDA’s role in supporting locally-driven disaster recovery and resiliency plans and believes this investment will bring new business opportunities and enhance the regional economy.
West Virginia Senator Joe Manchin emphasized the EDA’s partnership in strengthening West Virginia’s economy, expressing optimism about the potential job creation and economic opportunities resulting from the renovation of the former Vossloh Track Building. Senator Shelley Moore Capito also expressed her excitement for the impact of this funding on the growth of the Charleston area.
The Regional Intergovernmental Council (RIC) led the planning for this project. The RIC uses EDA funds to unite public and private sectors in creating economic development roadmaps to reinforce the regional economy, support private capital investment, and create jobs. The project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which allocated additional funds to the EDA for disaster relief and recovery in areas hit by major disasters.
