West Salem Redevelopment Grant

The Seed Capital Matching Fund provides a source of matching grant funds to assist new, startup, and emerging small businesses located within Southwest Virginia’s e-Region and to attract new small businesses from outside the region to locate here. Since the program was established in 2017, more than 200 new business startups have been assisted in the region by the Seed Capital program and hundreds of full-time and part-time jobs have been created. The applicant must have dollar-for-dollar matching funds from one or more other sources in at least an amount sufficient to match funds requested from VCEDA. No applicant can be approved for more than $10,000 under this program.

A new $3.6 million loan and grant program will assist small business with filling vacant storefronts Downtown. These loans will provide capital to underserved markets for those who experience barriers to accessing traditional banking services. Loan amounts will between $25,000-$100,000 with a 4% interest rate for qualifying businesses. In addition, those who qualify for the loan will also receive a grant of $25,000 from the City to support their launch.

Grow-NY is an unprecedented food and agriculture business competition funded by Empire State Development that identifies, supports, and funds the top food, beverage, and agriculture innovations across the globe. Finalists receive dedicated mentorship and business development support and compete for a $1 million top prize. Winning companies commit to making a positive impact in the growing startup hub located in New York state’s Finger Lakes, Central NY, and Southern Tier regions.

Virginia Economic Development Incentive Grants are designed to attract competitive projects to Virginia. Projects must be significant, creating hundreds of jobs in Virginia by relocating headquarters, administrative, or service sector operations to Virginia. Depending on location and wages offered, companies must create between 200 and 400 jobs, ranging from 150 to 200 percent of the local prevailing wage, and meet minimum capital or job investment requirements. Award amounts vary and are calculated based on a return-on-investment analysis, jobs and wages, capital investment, regional unemployment and poverty figures, and more.

Provides funds to businesses through the four Ben Franklin Technology Partners for access to capital, business expertise, technology commercialization services to advance the development of new technologies and for the generation, conservation, and transportation of alternative and clean energy.