The VCEDA Tourism Capital Improvement Matching Fund is a loan and grant program designed to assist with the development of tourism-related capital improvements that are part of larger regional tourism initiatives that will enhance the region’s economy. VCEDA recognizes that tourism development is a part of economic development and in addition to attracting outside revenue to the region it can add to the employment base.
Examples of larger regional tourism initiatives that projects should be connected with are the Crooked Road Heritage Music Trail, Round the Mountain Artisans Network, Daniel Boone Wilderness Trail, or Spearhead Trails. Projects that are unconnected with any larger regional tourism initiative will not be prioritized.
Generally, public and nonprofit organizations are eligible to apply for loan or grant funding from this program. For-profit entities may only apply for loans from this program. A dollar-for-dollar match is required. Available funding for this program is based upon annual appropriation by the VCEDA Board and is derived from a portion of severance taxes paid by the natural gas industry in the region.
Funds can be used for improvements made to tourism assets in the region and for equipment purchases related to those assets. Letters of support for the application should be obtained from the county/city industrial or economic development authority of the county/city where the project is located and from Virginia Tourism Corporation and Heart of Appalachia Tourism Authority.
Application information:
- Applications are currently accepted on a rolling basis, subject to availability of funds.
- Request more information or an application form by contacting VCEDA at 276-889-0381 or mail@vceda.us.
