Tobacco Region Opportunity Fund
The Tobacco Region Opportunity Fund supports local and regional public partners working with businesses on expansion and attraction projects to create jobs and private taxable investment in Virginia’s Tobacco Region.
Funder: Virginia Tobacco Region Revitalization Commission
Due Dates: Rolling (applications)
Funding Amounts: Grants and zero-interest loans; minimum estimated award of $10,000; typical performance period of 36 months
Summary: Supports business expansion and attraction projects that create jobs and taxable investment in Virginia’s Tobacco Region.
Key Information: Applicants need committed matching funds from non-Commission sources.
Description
The Virginia Tobacco Region Revitalization Commission uses the Tobacco Region Opportunity Fund to make localities more attractive for business expansion and attraction. It provides performance-based grants and loans to eligible local or regional public applicants for specific projects. Awards are assessed in relation to a project’s impact on its community or region.
The Commission favors businesses in traded sectors that bring outside capital and jobs into the Tobacco Region. It generally excludes retail, food-service, local service and non-competitive projects from consideration. Evaluation considers project competitiveness, industry, jobs, wages and private taxable capital investment, alongside local conditions such as workforce participation and community affluence.
