Grantee Highlight: Martinsville-Henry County Economic Development Corp.
Commonwealth Crossing awarded VDEP funding
Virginia Business Ready Sites’ helps identify and improve infrastructure to attract investment
RICHMOND— Former Governor Ralph Northam a total of $7.0 million in Virginia Business Ready Site Program development grants for 11 projects across the Commonwealth in early January. 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 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.
Commonwealth Crossing Business Centre was awarded $1,036,250.