Louisa, Albemarle get grant funding for site development projects
RICHMOND, Va. (CBS19 NEWS) -- Two area locations are among more than 20 across Virginia getting grant funding to get them project-ready.
Governor Glenn Youngkin announced $90 million in Virginia Business Ready Sites Program development grants on Monday.
According to a release, this discretionary program helps to characterize and develop sites to enhance Virginia’s infrastructure with more competitive project-ready sites that will attract new businesses and accelerate expansion.
This program aims to identify, assess and improve the readiness of industrial sites that have at least 100 contiguous and developable acres or 50 acres in the western part of the Commonwealth.
“The leading priority of the Virginia Business Ready Sites Program is to increase our project-ready site's portfolio across the Commonwealth, and this unprecedented site development funding is an important step forward in strengthening Virginia’s infrastructure,” said Youngkin. “Prepared sites drive economic growth, and we have to move faster to attract new businesses. We are hitting the accelerator to build a best-in-class business environment so the Commonwealth can compete to win, and I have included the necessary additional funding for the VBRSP in my proposed budget.”
There are two components to the program. Site characterization assesses and designates a site’s current level of development. Site development further develops a pool of potential sites across Virginia.
Localities apply for grants to help cover the costs associated with an initial assessment and the development needed to increase a site's existing designation.
The Virginia Economic Development administers this program, which was developed by a team of state, regional and local stakeholders, including the Virginia Department of Environmental Quality, utility and railroad representatives, civil engineers, and others.
Locally, Louisa County is getting nearly $11.6 million for the Shannon Hill Regional Business Park and Albemarle County is getting $3 million for the North Fork University of Virginia Discovery Park.
Other localities that are getting grants include Chesterfield County, Frederick County, Staunton, Norfolk Pittsylvania County, Wise County, Roanoke County, Lynchburg, Amherst County, and Bedford County among others.
For more information on this grant program, click here.