Downtown Covington Revitalization Survey
The planning process for the successful development of a downtown revitalization plan in Covington begins with a strong public engagement process. Input from the citizens, business owners and government officials will provide the foundation for a plan that reflects the vision for the City of Covington’s downtown business district. The vision for the district will be based upon surveys and interactive input sessions led by the Head Down Strategies team. This vision will guide the creation of the programs, branding, design guidelines and public improvements recommended in the plan.
𝗧𝗵𝗶𝘀 𝘀𝘂𝗿𝘃𝗲𝘆 𝗶𝗻𝗰𝗹𝘂𝗱𝗲𝘀 𝟭𝟮 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝘀𝗵𝗼𝘂𝗹𝗱 𝘁𝗮𝗸𝗲 𝗻𝗼 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝟭𝟱 𝗺𝗶𝗻𝘂𝘁𝗲𝘀 𝘁𝗼 𝗰𝗼𝗺𝗽𝗹𝗲𝘁𝗲.
𝗣𝗹𝗲𝗮𝘀𝗲 𝗶𝗻𝗰𝗹𝘂𝗱𝗲 𝗮𝘀 𝗺𝘂𝗰𝗵 𝗱𝗲𝘁𝗮𝗶𝗹 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗮𝗻𝘀𝘄𝗲𝗿𝘀 𝗮𝘀 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲. 𝗔𝗹𝗹 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗮𝗿𝗲 𝗼𝗽𝘁𝗶𝗼𝗻𝗮𝗹.
In December 2017, Congress passed the Tax Cuts and Jobs Act which included the Opportunity Zone tax incentive meant to spur economic development and revitalization in communities lacking access to capital. This new tool encourages long-term equity investments in these under-served communities. Under the Act, investors receive tax incentives to capitalize Qualified Opportunity Zone Funds that invest in developments and businesses operating in designated Opportunity Zone census tracts.
First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged.
Round 2 – Small and Non-Profit Business Recovery Grant
Alleghany County, the City of Covington and the towns of Clifton Forge and Iron Gate have jointly established a regional $1.6 million grant fund, known as the Alleghany Highlands Small Business Recovery Grant (AHSBRG), to support the region’s small and non-profit businesses recovery efforts following the COVID-19 outbreak. If you did not receive the full $15,000 from Round 1, you may be eligible for more dollars up to that $15,000.
Grant Details can be found here.
Grant Meeting Requirement can be here.
Grant Application can be found here.
Comprehensive Housing Analysis Alleghany Highlands Region
This study is a full comprehensive housing analysis of the Alleghany Highlands region, including the four jurisdictions that comprise this region. The purpose of the analysis is to identify housing opportunities and strategies on how to generate “brick and mortar” results. There are no easy answers, but opportunities exist. The goal is to establish a means to generate new housing unit development and identify and strategize which sites are viable for development and available. Full report here.
Community Health Assessment – Knowledge of Resource Guide
In 2016, Alleghany/Covington Health Department and Virginia Tech partnered to develop the Community Health Assessment (CHA) and distributed the CHA/CHIP survey throughout the Alleghany Highlands. As the group intensified it became known as Live Well Alleghany Highlands. After analyzing the data of over a thousand surveys, this group narrowed down to the results to three major focus areas: Early Childhood Literacy, Substance Use and Knowledge of Resources. Live Well Alleghany Highlands works to enhance the health and wellbeing of all who live, work and play in the Alleghany Highlands. The committee is comprised of individuals representing local governments, non-profits, healthcare providers, colleges, school districts, faith-based groups, community organizations, businesses and community members. Full article here.
In addition, the guide exists virtually for those that need immediate access at https://www.vdh.virginia.gov/content/uploads/sites/79/2020/07/LWAH-Resource-Guide_06.24.20.pdf
The first printing and distribution of resource guides are depleting quickly and the committee is seeking donations for the second round of printing. If interested in donating to this great cause, you may do so by contacting the Alleghany Highlands Chamber of Commerce & Tourism at 540.962.2178.
Alleghany Highlands Community Health Assessment
The Alleghany Highlands Chamber of Commerce along with the Alleghany Highlands Economic Development Corporation are here to help businesses through the COVID-19 crisis. We are compiling resources to help you maintain operations and access assistance. We are focused on preparation and sustainment, not panic. This site will be updated as resources become available and you can view it here.
Go Virginia Region 2
An Airbnb Workshop was recently held on the DSLCC campus with Sandy Ratliff of Virginia Community Capital. You can view that video here.
The Nuts and Bolts of Small Business Workshop was filmed at Dabney S. Lancaster Community College and hosted by the Alleghany Highlands Economic Development Corporation. Virginia Community Capital lead the conversation with guests from Sonabank, Small Business Administration, The Advancement Foundation, and U.S. Department of Agriculture and Rural Development. Video Here.
Visit our Drone Technology page and see some local videos of the Alleghany Highlands!!
SEE LOCAL JOB LISTINGS HERE
ALSO THERE IS A FACEBOOK PAGE FOR MORE JOB LISTINGS HERE
The Alleghany Highlands is a natural choice for large companies, small businesses, individuals and families. We’re pro-business and family friendly. Good schools are an advantage for families with children and companies that want well-educated employees. Low taxes benefit everyone.