Small business grants not helping poorer regions of Virginia

RICHMOND, Va. (AP) — A grant program designed to boost small businesses has resulted in few new jobs in the poorer parts of Virginia.

A new report shows that the Small Business Jobs Grant Fund helped retain or create 444 new jobs in fiscal 2016.

But most of those jobs were Northern Virginia. Only six were in Southwest Virginia and none in Southside Virginia.

The fund was created in 2010 and provides grants to small businesses that create at least five new full-time positions. The average wage of jobs helped created by the fund was $74,000 a year.

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