VEDP Announces $40 Million in Virginia Business Ready Sites Program Grants

RICHMOND — Governor Glenn Youngkin today awarded a total of $40 million in 13 Virginia Business Ready Sites Program development grants across the Commonwealth.

“The Virginia Business Ready Sites Program is proving to be a game changer for our economic development strategy,” said Governor Glenn Youngkin. “Having a strong pipeline of ready-to-go sites gives Virginia a critical edge in attracting high-impact projects and new jobs. These early outcomes show why it’s so important that we keep building on this momentum through continued investment.”

“In today’s competitive landscape, having project-ready sites available across multiple regions gives Virginia a real advantage,” said Secretary of Commerce and Trade Juan Pablo Segura. “The Virginia Business Ready Sites Program is making a measurable difference in communities throughout the Commonwealth by preparing sites that meet the demands of major employers. This latest round of investments will strengthen our statewide portfolio and help ensure that every region is equipped to compete for transformative economic opportunities.”

Administered by the Virginia Economic Development Partnership, this discretionary program partners with localities, utilities and state agencies to fund infrastructure improvements that build operations-ready sites for employers and manufacturers ready to expand in the Commonwealth. In addition to developing project-ready sites, the program assembles permits and approvals to make way for a smooth construction process.

For localities larger than 35 square miles, the VBRSP identifies, assesses and improves industrial sites with at least 50 contiguous, developable acres, with a focus on larger industrial sites that can make a regional impact. Localities of 35 square miles or less may submit sites of 25 contiguous, developable acres.

The VBRSP has two components: (1) site characterization, to assess and designate a site’s current level of readiness, and (2) site development, to further develop a pool of sites across the Commonwealth. Of the $40 million in VBRSP grants, $35.9 million will go directly to sites, and $4.1 million will be allotted for accelerated site characterization, a new initiative to fast-track due diligence on newly identified, high potential sites to grow Virginia’s pipeline of ready sites. Localities can apply for matching grants to assist with the costs associated with the initial assessment and the development required to increase a site’s current designation level.

Since the program's inception nine years ago, 48 sites have received funding, and to date, over 10,000 direct jobs have been announced on sites that have received VBRSP grants. This year, the 12 sites receiving VBRSP funding represent over 4,500 acres of developable land.

“Virginia is developing a next-generation portfolio of project-ready sites that are built to meet business needs from day one,” said VEDP President and CEO Jason El Koubi. “By preparing sites that align with the demands of today’s companies, we’re using infrastructure as a strategic tool to drive economic growth - and positioning every region to compete and win in the economy of the future.”

The VBRSP was developed by a team of state, regional and local partners including VEDP, 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 an investment committee composed of VEDP and administration leaders.

Fiscal Year 2025 VBRSP award recipients include the following:

More information on the VBRSP is available here.