Economic Development Workforce Housing Incentive Pilot Program
Economic Development Workforce Housing Incentive Pilot Program supports housing developers building new homes for workers in Virginia’s Tobacco Region to meet employer needs and attract economic development.
Funder: Virginia Tobacco Region Revitalization Commission
Due Dates: Rolling (pre-applications and proposals)
Funding Amounts: Up to $1 million per award and $50,000 per unit; FY26 allocation of $3.6 million
Summary: Supports new workforce housing tied to economic development projects in Virginia’s Tobacco Region.
Key Information: A Commonwealth political subdivision must apply on behalf of the housing developer, with a minimum three-to-one match.
Description
The Virginia Tobacco Region Revitalization Commission runs this pilot to address a shortage of housing for employees of new and expanding businesses in the Tobacco Region. Developed with feedback from Virginia Housing and the Virginia Department of Housing and Community Development, it supports new rental or for-sale units through site development, infrastructure, and direct construction costs.
The program aims to make the region more attractive for major economic development projects. It also seeks to catalyze historic business district revitalization, coordinate housing with employer growth, and leverage other housing investment, especially projects supported by Virginia Housing.
