Opportunity Appalachia is a regional initiative (WV, OH, and VA) to encourage Opportunity Zone investment in Central Appalachian communities. The initiative is recognized by Forbes as one of the top 20 catalysts in the nation for “sparking the equitable revitalization of distressed communities identified as Opportunity Zones.”
Five West Virginia-based communities, projects, and/or developers located in Opportunity Zones will receive technical assistance resources averaging $50,000 (each) to develop community strategies and structure investable transactions, create prospectus and pitch decks targeting Opportunity Fund investors, and other services. There are 55 areas located across West Virginia designated as Opportunity Zones.
The selected projects will focus on downtown development, tech business, historic preservation, broadband deployment, and retail enterprises in federally designated Opportunity Zones across the Mountain State:
- City of Huntington, Hotel Prichard Mixed-use Revitalization, Huntington, WV
- Crawford Holdings, LLC, Staats Building Project, Charleston, WV
- Thundercloud, Inc, Fiber Network and Data Center, Huntington, WV
- Unleash Tygart, Inc, Cohen Building Project, Grafton, WV
- Woodlands Development Group, Tygart Hotel, Elkins, WV
Once technical assistance for the projects is completed, an Opportunity Zone Investor Convening event will be held to target both local and pre-vetted national investors, as well as federal and state funders. A curated web-based platform hosting prospectus/pitch decks will also be made available to support due diligence for investors.
About Opportunity Appalachia in West Virginia
Opportunity Appalachia is a 3-state regional initiative covering West Virginia, Ohio, and Virginia. More information on Opportunity Appalachia is available at: appalachiancommunitycapitalcdfi.org/oa-program/.
Appalachian Community Capital is the Opportunity Appalachia program manager. The New River Gorge Regional Development Authority and West Virginia Community Development Hub are the lead state partners administering the program in West Virginia.
Partners including the West Virginia Development Office; WV Municipal League; Advantage Valley; City of Huntington; City of Charleston; WV Forward; WV Brownfields Center; West Virginia University; the Offices of U.S. Senators Manchin and Capito; and others provide additional guidance and support to the program.
Thank you to the Appalachian Regional Commission and Claude Worthington Benedum Foundation for their support for this work in West Virginia.