Tobacco Region Incentive for Agribusiness Development (TRIAD) Grant Program
The Tobacco Region Incentive for Agribusiness Development (TRIAD) Grant Program supports local governments in attracting agribusiness facilities that create jobs, investment, and markets for regional producers.
Funder: Virginia Tobacco Region Revitalization Commission
Due Dates: No deadline stated
Funding Amounts: Dollar-for-dollar match required; performance period typically 36 months
Summary: Incentive grants help Tobacco Region localities attract agribusiness facilities that create economic benefits for regional producers.
Key Information: Only eligible political subdivisions may apply; the locality is responsible for repayment if performance terms are not met.
Description
The Tobacco Region Incentive for Agribusiness Development (TRIAD) program is run by the Virginia Tobacco Region Revitalization Commission. It helps local governments attract new or expanding agriculture- and forestry-based businesses that process or add value to products grown in Virginia’s Tobacco Region. Its goal is to create jobs, private investment, and new market opportunities for the region’s farmers and forestland owners.
Awards go to political subdivisions for the direct benefit of a private business. They are generally paid on a performance basis, rather than as up-front project financing. The Commission considers the project’s benefit to regional producers, its expected return to the Commonwealth through jobs and investment, and other factors affecting its quality and impact.
