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Economic Development
Grants
Enterprise Zone Job Grants
Qualifying businesses located within an Enterprise Zone must increase their employment by at least four (4) full-time positions prior to receiving any job grants. For example, a qualified business creating six (6) new jobs could receive two (2) job grants. Retail, local service and restaurant/beverage service businesses are not eligible. Jobs created must report to the business' zone establishment on a regular basis, must pay at least 175% of the federal minimum wage, now $6.55 per hour, and provide health benefits to receive a grant of $500 per job per year for a period of five years. If the pay is 200% of the federal minimum wage with provided health benefits, the grant amount is $800 per job for a five year period. Grants are limited to a maximum of 350 eligible jobs per year and are based on a calendar year. Job grants and real property improvement grants are subject to a combined cap of $15.4 million statewide. Contact Lindsay Hurt at (540) 853-5405.
Real Property Investment Grants
Businesses located in an Enterprise Zone may be eligible for a grant equal to 20% of qualified zone improvements. Rehabilitation projects must have a minimum investment of at least $50,000 of hard qualifed construction costs, with mixed use projects dedicating at least 30% of the floor area to business use. Investors making the improvements are eligible. Qualified rehabilitation improvements include, but are not limited to, the costs associated with excavation, grading, paving, driveways, roads, sidewalks, landscaping or other land improvements, demolition, carpentry, sheetrock, plaster, painting, ceilings, fixtures, doors, windows, fire suppression systems, roofing and flashing, exterior repair, and cleaning/clean-up. New construction projects require the owner to make a minimum investment of $250,000. The real property improvement grant for projects costing less than $5 million is limited to $125,000 over a five year period. Projects costing $5 million or more may collect grants up to $250,000 over a five year period. Real property improvement grants and jobs grants are subject to a combined $15.4 million cap statewide. Contact Lindsay Hurt at (540) 853-5405.
Facade Grants in Local Enterprise Zone One A
Established to visually improve the appearance of buildings in Enterprise Zone One A, this grant is equal to 33 percent of the cost of facade renovations, capped at $25,000. Application must be made before work begins, with all applications going before the Economic Development Authority. Grants are made on a reimbursement basis and include only the hard costs of renovation. Architectural and engineering fees are not included. Contact Lindsay Hurt at (540) 853-5405.
Parking Lot/Landscaping Grant in Enterprise Zone Two
Businesses in Enterprise Zone Two with gravel parking lots void of landscaping and contributing storm water runoff to an existing city-owned detention pond may be eligible for a parking lot/landscaping grant. The entity must be for profit. A plan showing the area to be paved, a list of all trees and plants, a plan showing where the landscaping will be placed, pictures of the lot as is, and a cost list must be submitted to the Economic Development Authority of the City of Roanoke, Virginia (EDA), with an application form prior to commencing work. Plans for landscaping must conform to existing zoning ordinances. Submissions will be reviewed by the EDA for completion and approval. Plans approved for an amount will be granted one third of the cost of the improvements, up to $25,000. Approved businesses will have six (6) months from the date of approval to complete the project. Once completed, the grantee must submit copies of all invoices, a certification from the Building Division as to the project’s completeness, and a form for reimbursement. No grants will be awarded for parking businesses. Contact Lindsay Hurt at (540) 853-5405.
Virginia Investment Partnership (VIP) Grant Fund
VIP assists and encourages existing Virginia manufacturers to continue to invest in Virginia by adding and modernizing production capacity and processes. The company must have a significant presence in Virginia for a minimum of five (5) years. Virginia manufacturers making a capital investment of at least $25 million may apply directly to the Virginia Economic Development Partnership for this discretionary grant. Questions should be directed to John B Sternlicht, General Counsel and Director of Legislation and Planning at (804) 545-5617.
Governor's Opportunity Fund
The Governor's Opportunity Fund was established to support projects creating new jobs and investment in Virginia. The grants are made at the discretion of the Governor. To be eligible, projects in the city of Roanoke must make a private investment of at least $5 million and create no less than 50 new jobs. The Governor also has the ability to accept half the number of required new jobs if the wages pay at least twice the average prevailing wage ($34,618) in the locality. Any investment figure and number of jobs noted in the application must be met within 30 months of receiving the grant payment and a performance agreement must be signed to that effect. Funds can be used for on and off site utility improvements, site acquisition and development, transportation access, or constructing/building-out publicly-owned buildings. Grants are only given to companies paying at least $29,425 annually on average. These grants are awarded only to projects not yet announced and neither the locality nor the company may announce or confirm the proposed project without first coordinating with the Virginia Economic Development Partnership. Questions should be directed to John B Sternlicht, General Counsel and Director of Legislation and Planning, at (804) 545-5617.
State Historic Preservation Grants
State Historic Preservation Grants are available to local governments, nonprofit museums, historical organizations and historic sites needing extra funding for operations, completing rehabilitations or maintaining collections. Grants must be matched. Contact Ann Andrus, State Grants Coordinator at (804) 367-2323, extension 133.
Grants.Gov
This site allows organizations to electronically find and apply for competitive grant opportunities from all Federal grant-making agencies.
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