VBRSP is a discretionary program to promote development and characterization of sites (containing a minimum of 100 contiguous, developable acres) to enhance the Commonwealth’s infrastructure and promote the Commonwealth’s competitive business environment.
VBRSP was developed by a team of state, regional, and local stakeholders including VEDP, DEQ, 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 a committee of VBRSP Working Group members. Financial participation by the grant recipient is required.
The Site Characterization Grant assesses the level of existing development at a site and additional development required to bring the site to a level that enables it to be marketed for industrial or commercial economic development purposes.
The VBRSP has two components:
- Site Characterization to assess and designate a site’s current level of development
- Site Development to further develop a pool of potential sites across the Commonwealth
The goal of the program is to identify, assess, and improve the readiness of potential industrial sites in Virginia to enhance the Commonwealth’s infrastructure and competitive business environment.
In an effort to develop a pool of viable sites, Site Characterization and Site Development grants are available to assist with the costs associated with the initial assessment and to further development required to increase a site’s currently designated Tier Level to the next Tier Level.
- Tier 1 – Raw land with interested seller
- Tier 2 – Site controlled and marketed for development
- Tier 3 – Zoned industrial/commercial, due diligence complete
- Tier 4 – Certified as “infrastructure ready”
- Tier 5 – “Shovel Ready” – permits in place
- Minimum of 100 contiguous acres
- Dollar-for-dollar match
- Applicant - political subdivisions of the Commonwealth of Virginia, including counties, cities, towns, industrial/economic development authorities
- Viability - the development required to prepare and position the site at a higher Tier Level can be implemented practically and successfully within a reasonable period of time.
- Alignment – the site is aligned with the local or regional economic development strategy or strategic plan.
- Economic Impact – the development of the site has a public purpose and would have a significant economic impact on the community and facilitate further increased prospect traffic and economic growth.
- Commitment – the scope of work required to increase a site’s currently designated Tier Level to the next Tier Level (Scope of Work) is complete, the necessary financing for the implementation of the Scope of Work is available and documented or will be within a reasonable period of time, the required dollar-for-dollar match of the Site Development Grant requested is identified, and an estimated timeframe for implementation of the Scope of Work has been established.
- Leveraged Resources – the use of existing infrastructure, workforce and other community assets, grants and funding, or other resources used to support the site.