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$1 Million Grant for Industrial Site Development in Virginia
$1 million awarded for site development
The Farmville Herald
Image: The Farmville Herald
The Tobacco Region Revitalization Commission awarded over $1.3 million in grants, including a $1 million grant for industrial site development in Prince Edward County, Virginia. This project aims to prepare a 25-acre site for a manufacturing facility, potentially creating 150 jobs and attracting $17 million in private investment.
- 01The $1 million grant will fund site development at the Prince Edward County Business Park, preparing a 25-acre site for a 200,000-square-foot manufacturing building.
- 02The project aims to address a shortage of large development-ready industrial sites in the Virginia Heartland Alliance region.
- 03The overall engineering cost for the project is estimated at $5.983 million, with matching funds from the Virginia Business Ready Sites Program and Prince Edward County.
- 04A $239,000 Workforce Financial Aid grant will support workforce development programs at Southside Virginia Community College, benefiting over 340 students.
- 05A $100,000 grant for farmland conservation will help landowners offset costs associated with conservation easements, preserving agricultural land in Southern Virginia.
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During its May 13 meeting, the Tobacco Region Revitalization Commission approved over $1.3 million in grants aimed at enhancing economic development in Prince Edward, Cumberland, and Buckingham counties, Virginia. The largest allocation, a $1 million grant, is designated for industrial site development at the Prince Edward County Business Park. This funding will facilitate the preparation of a 25-acre site for a 200,000-square-foot manufacturing facility, addressing a critical shortage of large, development-ready sites in the region. The total project cost is estimated at $5.983 million, with additional funding from the Virginia Business Ready Sites Program and local sources. The initiative is projected to create 150 jobs with an average salary of $55,000 and attract approximately $17 million in private investment. Other grants include $239,000 for workforce education at Southside Virginia Community College and $100,000 for farmland conservation efforts, which aim to preserve agricultural land amidst rising development pressures.
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The industrial site development is expected to create jobs and stimulate economic growth in the region.
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