Governor Northam Announces $7 Million to Develop Industrial Sites Across CommonwealthJanuary 13, 2022
RICHMOND—Governor Ralph Northam today announced a total of $7.0 million in Virginia Business Ready Sites Program development grants for 11 projects across the Commonwealth. Administered by the Virginia Economic Development Partnership, this discretionary program develops and characterizes sites to enhance the Commonwealth’s infrastructure and promote its competitive business environment. The program identifies, assesses, and improves the readiness of potential industrial sites, which must contain a minimum of 100 contiguous, developable acres.
“Companies want to invest in the Commonwealth, and this program is critical to making it easier for businesses to do business here,” said Governor Northam. “Virginia has been named the best state in which to do business in for three years, and investments like these are part of the reason why.”
The program has two components: 1) site characterization – to assess and designate a site’s level of development, and 2) site development – to further develop a pool of potential sites across the Commonwealth. Localities can apply for grants to assist with the costs associated with the initial assessment and the development required to upgrade a particular site.
“The Virginia Business Ready Sites Program is a powerful economic development tool that gives localities the resources they need to assess and develop sites for economic development opportunities,” said Secretary of Commerce and Trade Brian Ball. “These projects across the Commonwealth will strengthen Virginia’s business portfolio and our overall competitiveness.”
The Virginia Business Ready Sites Program was developed by a team of state, regional, and local stakeholders including the Virginia Economic Development Partnership, Virginia Department of Environmental Quality, railroad representatives, utility representatives, civil engineers, and other government, business, and industry representatives. Grants are considered on a competitive basis and made at the discretion of the Virginia Business Ready Sites Program Project Review Committee and the Funding Approval Committee. The most recent round of program funding was highly competitive with 25 applications from communities across Virginia totaling more than $50 million in cumulative funding requests. Fiscal Year 2022 VBRSP award recipients include the following:
- Botetourt County, Botetourt Center at Greenfield, $362,700
- Franklin County, Summit View Business Park, $1,017,870
- Greensville County, Mid-Atlantic Advanced Manufacturing Center, $1,017,870
- Henry County, Commonwealth Crossing Business Centre,$1,036,250
- Louisa County, Shannon Hill Regional Business Park, $300,000
- City of Norton, Project Intersection, $500,000
- Pittsylvania County, Southern Virginia Megasite at Berry Hill, $1,312,400
- Prince Edward County, Heartland Innovative Technology Park, $640,000
- Pulaski County, New River Valley Commerce Park, $300,000
- Roanoke County, Wood Haven Technology Park, $75,000
- City of Staunton, Staunton Crossing, $850,780
More information on the VBRSP is available here.