Bringing investment to Central Appalachian coal-impacted communities, creating new jobs and businesses that support sustainable growth – NC projects are now eligible.
Mountain BizWorks, the Appalachian Regional Commission, and Opportunity Appalachia will host a webinar on Tuesday, January 25 from 1:00-2:30 PM (EST) to launch an expanded phase of Opportunity Appalachia. The webinar will feature Gayle Manchin, Federal Co-Chair of the Appalachian Regional Commission, Tom Barkin (invited), President & CEO of the Federal Reserve Bank of Richmond, and Donna Gambrell, President & CEO of Appalachian Community Capital.
As the lead partner in North Carolina, Mountain BizWorks invites all interested community and economic development leaders, local elected officials, developers, and business owners to learn about the opportunity to obtain technical assistance for important development projects to move your community forward.
Click here to register.
About the Program
Opportunity Appalachia will provide targeted support for downtown and rural development projects to build entrepreneurial communities where local business can thrive, creating quality jobs for residents, helping to address the Covid downturn, and revitalizing local economies. The $2.25 million in funding for technical assistance will provide support for more than 40 projects which are anticipated to create 3,000 jobs and bring $400 million of new investment into Central Appalachian communities. The expanded program targets Appalachian communities in five states: Tennessee, North Carolina, Ohio, Virginia, and West Virginia.
Selected communities will each access $30,000 – $75,000 in technical assistance to support their proposed development projects, to include (but not limited to):
- Development of investment prospectus, preparation of pro forma financial projections, structuring of project financing,
- Market research, demand assessment,
- Architectural and engineering,
- Business plan preparation, operations planning,
- Identification of project developers, and
- Investor outreach.
In 2020-2021, Opportunity Appalachia supported 17 projects which are seeking to raise over $250 million in financing. For a listing of participating projects – which include manufacturing facilities, downtown development, tech business, agricultural facilities, hotels / housing, broadband deployment, and retail enterprises – please visit the program site here.
Mountain BizWorks will also be hosting a subsequent North Carolina-focused event for Opportunity Appalachia on Wednesday, February 16th, at 1:00 pm. For information, please visit the Mountain BizWorks Opportunity Appalachia page, or contact the Mountain BizWorks Opportunity Appalachia Program Manager, Steve Lockett, at steve@mountainbizworks.org.
This program is supported by funding from
