EDA Funding Keeps Jobs and Businesses in Virginia, Providing a Green Path Forward for Floyd County

“To grow is to prosper.” For the residents of Floyd County, Virginia, it’s more than just a motto emblazoned on the county seal. It’s a way of life, embedded in both the history and the culture of this rural community nestled among the scenic Blue Ridge Mountains.

Established in 1831, Floyd County served as an agricultural hub in the region for nearly a century. The textile industry would soon follow, bringing new plants and production facilities to the region. Like other communities throughout the United States, Floyd would experience multiple economic downturns with the approach of The Great Depression.

By the mid-20th Century, construction of the Blue Ridge Parkway had begun. It brought new residents to the community, many of whom were seeking a simpler lifestyle away from the city. While Floyd is now home to over 15,000 residents, more than 70 percent work outside the county.

Seeking a better life for their families, many of Floyd’s residents have chosen to go into business for themselves. In 2023, the Floyd Growth Center was established to address the needs of these local entrepreneurs. This 16,000-square foot facility was funded in part through the Economic Development Administration, which provided $2.3 million in Disaster Supplemental funding for construction of the facility. The award was designed to provide a resilient space to address business continuity concerns following a series of floods in 2018.

“When we have ice storms, people can be without power for weeks,” said Lydeana Martin, Floyd County’s Community and Economic Development Director. “We wanted to create a facility that would itself be resilient during floods and other natural disasters, while continuing to provide economic resilience for our county’s entrepreneurs.”

To that end, the center was established as critical infrastructure, filling the same urgent needs in the community as a hospital or other medical facility. It is equipped with back-up power generators, a lightning protection system, dual loading docks, drive-in bays, and re-enforced walls and roof. It is situated outside the local flood plain, with easy access to the county’s two main roads, creating a new artery for commerce and development throughout the region.

The Floyd Growth Center is already home to an engineering firm named Pragmatic Environmental Solutions, which designs and fabricates systems to support oil recycling. Through their innovative methods and technologies, they are supporting resource recovery and the reduction of pollution on a global scale.

“Floyd has a natural, green reputation,” Martin notes. “While ideologically conservative, our businesses support practical, forward-leaning technologies and the implementation of sustainable solutions.”

Secondary space in the facility is currently available. Martin adds that it is capable of supporting a variety of industries, including technology fabrication, food production, and metal working. Floyd is home to a thriving metal works cluster of approximately nine local businesses, any one of whom could expand operations in this new, high-tech facility.

The project was also designed to provide Floyd County High School students with practical, hands-on experience with local employers. It will provide job shadowing, internships, and part-time job experiences, to help bolster economic diversification, attract private investment, and strengthen the regional economy.

Citizens have been very supportive of the new facility, which follows in the footsteps of the Floyd Innovation Center, a multi-tenant building completed in 2015. Like the Floyd Growth Center, it too was made possible through EDA funding, and is today home to four local businesses, employing 35 people. Ten other businesses which began at the center have since moved on to properties of their own. Average wages within the facility are thirty percent higher than the local median income.

“EDA grants support the development of higher-income jobs. Everyone in the economic development community has been very supportive and complementary of these projects, which will benefit our community for decades to come.”

For a virtual walkthrough of the available facility, please click here.