You are here:
Business Information >
Starting a Business >
Incentives > Governor’s Opportunity Fund
Governor’s Opportunity Fund
Discretionary funds are available to the Virginia Governor to secure a business location or expansion project for Virginia. These grants are awarded to localities on a local matching basis with the expectation that the grant will result in a favorable location decision for the Commonwealth. To be eligible, projects must receive a minimum amount of private investment and create a minimum number of jobs, depending on the size of the locality in which the applicant business is located. The minimum private investment and minimum job creation for localities with a population of:
- more than 100,000 is $10 million and 100 new jobs;
- 50,000 to 100,000 is $5 million and 50 new jobs;
- less than 50,000 is $2.5 million and 25 new jobs;
- central cities or urban cores will be treated for eligibility purposes the same as communities of 50,000 to 100,000 population.
The monies provided by the Governor’s Opportunity Fund may be used for such things as:
- on and off site utility improvements;
- site acquisition and development;
- transportation access;
- construction or build-out of publicly-owned buildings;
- grants or loans to Industrial Development Authorities or Housing and Redevelopment Authorities;
- or anything else permitted by law.
For more information about the program, please contact the Williamsburg Office of Economic Development or contact John B. Sternlicht at the Virginia Economic Development Partnership:
P.O. Box 798
Richmond, Virginia 23218-0798
(804) 371-0036
(804) 371-8112 (fax)