Local Economic Development Grant (LED)
The West Virginia Legislature appropriate funds for the Local Economic Development Grant (LED) to support county or multi-county economic development efforts through a matching grant program. The program is administered through the West Virginia Department of Economic Development (WVDED). The purpose is to enhance the capacity of local economic development to undertake economic development activities and to complete Certified Development community (CDC) program requirements.
The State Office is designated by the Governor to serve as the official agent of the state in administering, carrying out, and cooperating with the federal government in connection with LED.
Funding:
a. | Amount:For the purpose of this program, a community is either a county or multi-county region. Applicants may receive up to $41,500 in matching grant funds. Applicants representing a single county must have a cash match equal to the amount of the grant. Applicants representing multi-county or regional economic development organizations must have cash to match half the grant amount. |
Eligible Applicants:
The following organizations are eligible as long as the county commission has issued a resolution designating the group as the county's lead economic development entity.
- County development corporations or authorities
- Multi-county or regional development corporations or authorities
- Regional Planning and Development Councils
- Grants are awarded to county or regional economic development corporations or authorities that commit to following the guidelines and meet the grant program criteria.
Requirements:
- Resolution from the county commission(s) designating the applicant as the lead economic development organization for the county.
- Project narrative that reviews the previous years' economic development activities.
- Proposed budget.
- Evidence of cash match.
- Organizational information including legal structure, list/contact information for board of directors, annual action plan and organization revenue budget.
- Fifteen hours of professional development and attendance at one West Virginia Economic Development Council meeting.
- Business retention and expansion narrative and visitation schedule.
- Updated information on site and building inventory.
- Development and/or maintenance of a website.
- Audit
