Covington, VA (VR) – The Alleghany Highlands Economic Development Corporation (AHEDC) announced on January 16, 2023, it has been awarded $3.29 million from the Virginia Economic Development Partnership’s (VEDP) Virginia Business Ready Sites Program (VBRSP). The funding resulted from a competitive evaluation of sites across the entire Commonwealth with 21 sites being selected for grants.
VBRSP is a discretionary program to promote development and characterization of sites to enhance the Commonwealth’s infrastructure and promote its competitive business environment. The program’s goal is to identify and assess the readiness of potential industrial sites of at least 100 acres in Virginia or 50 acres in GO Virginia Region 1 or 2 for marketing in alignment with the goals outlined in the Governor’s economic development plan.
“Alleghany County, the City of Covington and our IDA have been focused on preparing this pad site over the past three years with the goal of mutually investing in our bright future,” said Reid Walters, Chair of the AHEDC and Alleghany County Administrator. “We are confident this generous funding from the Commonwealth will enhance our momentum so we can mobilize a contractor within 30 days of a contract agreement.”
Key selling points of the 104-acre site off Commerce Center and Winterberry Avenues included:
Ready-to-go project: local/regional funding dedicated, DEQ/ACOE permits in hand, team assembled
Low risk project with approved grading plan
Work has already begun
Strong regional support for project
Goals to create new tax revenue, new jobs and a diversified economy
Implementation team in place and active including partners representing local/regional government, engineering, marketing, social media and site selection
“The site is the largest publicly owned parcel in this region and is our best opportunity to produce jobs and investment,” said Allen Dressler, AHEDC Board Vice Chair and Covington City Manager. “Our strategic East Coast location with optimal access to Midwest markets will be attractive to prospects.”
AHEDC leadership partnered with the Roanoke Regional Partnership, the Alleghany Highlands IDA, Timmons Group and Hunton, Andrews Kurth’s Economic Development Division on the VBRSP application.
The Alleghany Highlands Economic Development Corporation is the marketing organization promoting Alleghany County, the City of Covington and the Towns of Clifton Forge and Iron Gate for business recruitment, expansion and development. A public/private partnership, AHEDC focuses on Site Readiness, Infrastructure Management, Site Selection Outreach and Workforce Development. The organization also serves as a key information source for applicable data, regulatory compliance and funding opportunities to help you successfully launch, expand or relocate a business to the region.