Charleston, WV. October 16, 2024 – Advantage Valley, Inc. a regional economic development organization serving nine counties that comprise the Charleston-Huntington WV Metro Region, has been awarded a $1.6 million Appalachian Regional Commission (ARC) POWER grant to support its Expanding Markets program. This three-year project in partnership with local, state, and federal partners, is designed to diversify and create resilience in the manufacturing and business services sectors by driving growth, increasing market potential, and strengthening regional supply chains.
This award is part of a recently announced $68.2 million award package supporting 65 projects in 188 coal-impacted counties through ARC’s POWER (Partnerships for Opportunity and Workforce and Economic Revitalization) Initiative, which directs federal resources to economic diversification projects in Appalachian communities affected by job losses in coal mining, coal power plant operations, and coal-related supply chain industries.
“ARC’s POWER initiative supports coal-impacted communities’ preparation for the next phase of Appalachia’s economy, while ensuring that residents have a say in the course of their own futures,” said ARC Federal Co-Chair Gayle Manchin. “The investments announced in this round of POWER will help train workers, advance new industries, and build upon the progress already being made toward a brighter future full of economic opportunity for our region.”
“We’re grateful to the Appalachian Regional Commission’s support of our work to strengthen the Advantage Valley regional economy. Nationally, 80% of all new jobs are created by existing businesses making it critical that we prioritize resources to promote their continued growth,” said Terrell Ellis, Advantage Valley’s CEO. “We intend to help companies accelerate their current trajectory of growth.”
The Expanding Markets program will provide a broad array of technical services to not only address everyday operational needs related to workforce, financing, and facility improvements, but to help companies identify new market opportunities and customers. Companies will have access to proprietary programs that can help to identify new and diversified sources of customers, including international markets. In partnership with the U.S. Commercial Service, companies will be able to take advantage of exporting advice and receive financial support for targeted trade missions. Locally, Marshall University’s Advanced Manufacturing Center will lead efforts to strengthen supply chain and B2B connections through a series of events that are designed to connect large employers with small businesses. “Our efforts to promote B2B connections will also be strengthened with a focus on getting more Women and Minority businesses certified,” said Ellis. “We want to increase the number of certified businesses that are available to corporations who seek to diversify their supply chains, so this will be a very important part of our program.”
Working through partners at the Charleston Area Alliance, Huntington Area Development Council, and Jackson, Mason, and Putnam County Development Authorities, Expanding Markets will serve 225 unique businesses, and create 200 new jobs and leverage $25 million in new investment.
This transformative POWER grant aims to not only stimulate growth within the manufacturing and business services sectors, but also foster long-term economic resilience and diversification, benefitting communities throughout the Advantage Valley region. Additional funding and support for the Expanding Markets program is provided by Charleston Area Alliance, Huntington Area Development Council, Jackson County Development Authority, Mason County Development Authority, and Putnam County Development Authority; as well as Marshall University’s Advanced Manufacturing Center, The Claude Worthington Benedum Foundation, and the Just Transition Fund.
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About Advantage Valley
Advantage Valley, Inc. is a regional economic development organization whose mission is to grow economic opportunity in the Charleston-Huntington Metro Area by increasing investment in the region, leveraging resources, and building collaboration among community stakeholders.
About the Appalachian Regional Commission (ARC)
The Appalachian Regional Commission is an economic development partnership entity of the federal government and 13 state governments focusing on 423 counties across the Appalachian Region. ARC’s mission is to innovate, partner, and invest to build community capacity and strengthen economic growth in Appalachia.