City of Roanoke, Franklin County to Receive Grant Funding for Site-Ready Development

Total of $13 million for infrastructure improvements in the Roanoke Region

Site Readiness is key to economic success, and two sites in the region are receiving funds for infrastructure improvements . Governor Youngkin announced additional grant funds for 23 business sites across the Commonwealth, two of which are here in the Roanoke Region–Summit View Business Park in Franklin County and Roanoke Centre for Industry & Technology (RCIT) in the City of Roanoke.

The state announced $126 million in Virginia Business Ready Sites Program (VBRSP) grants to develop industrial sites throughout Virginia, $13 million of which going to sites represented by the Roanoke Regional Partnership. The Roanoke Centre for Industry and Technology, Tract 8, has been awarded $7.5 million, and Summit View Business Park in Franklin County will receive $5.5 million.

“Virginia has worked strategically to create a diverse portfolio of project-ready sites to meet company needs in a variety of target sectors, and these grants are a primary reason why Virginia is recognized as a national leader in site development,” said VEDP President and CEO Jason El Koubi. “I am incredibly proud of the results of the program’s efforts. This investment in Virginia’s infrastructure will continue to accelerate economic development in every region of the Commonwealth for years to come.”

Virginia was named the 2024 Top State for Business by CNBC. Photo courtesy of Virginia Economic Development.

The Roanoke Regional Partnership supported these applications which will improve regional site readiness throughout the region, and thus, attracting new business and making the region more competitive in the economic development landscape. The grant program sent representatives from the Virginia Economic Development Partnership (VEDP) and professional site consultants to assess the potential of industrial sites which must contain a minimum of 100 contiguous, developable acres.

Partnership leadership recognizes the importance of real estate development in competing for new investment and expansion. Proof of that is Thrive 2027, the Partnership’s strategic plan, where a priority area is to support governments and developers in their efforts to develop real estate.

View the Governor’s press release with exact dollar values awarded and get details about the Virginia Business Ready Sites Program (VBRSP).