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Council debates expansion, preservation and incentives for Innovation Park in Princess Anne Commons
Summary
Staff briefed council on Innovation Park’s history, current status and options to expand industrial land. Council members debated trade-offs with the adopted ITA (Intent to Agriculture/ITA) plan, sports complex plans, environmental constraints and incentive practices.
City staff delivered a history and status briefing on Virginia Beach’s Innovation Park on Jan. 14, outlining the park’s origin as a biomedical hub, its pivot to an advanced-manufacturing focus, current tenants and available parcels, and options for expansion.
The City Council heard that the Innovation Park sits inside the Princess Anne Commons SEGA (Special Economic Growth Area), includes about 31 acres available for development (largest roughly 17 acres), and hosts major private investments including Acoustical Sheet Metal and AGI. Staff said infrastructure investments to date include $6 million adopted in 2021 for phase two and $18.6 million added in 2023, and that a state site-readiness grant of $866,000 was awarded to extend sanitary sewer.
Why it matters: Innovation Park represents a potential growth corridor for advanced manufacturing and higher-value commercial tax base, but expansion could conflict with previously adopted…
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