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VEDP urges steady funding for Business Ready Sites program, highlights ROI and jobs tied to site readiness
Summary
Jason L. Kuby of the Virginia Economic Development Partnership briefed the subcommittee on the Commonwealth’s Business Ready Sites program, arguing sustained investment is required to keep Virginia competitive, citing past results, an 8-to-1 general fund return, and proposals to scale to $100 million per year to win large projects.
Jason L. Kuby, president and CEO of the Virginia Economic Development Partnership, told the Economic Development and Natural Resources Subcommittee on 2025-10-12 that state investment in project-ready sites has helped the Commonwealth win capital-intensive projects and high-paying jobs, but that sustained, larger funding is necessary to maintain momentum.
Kuby said Virginia’s recent site-development investments have produced a strong return on investment: “when you look at the money that you guys are investing in VEDP, when you look at incentives, that is producing an average of an 8 to 1 return for the general fund,” he said, citing net present value calculations over a five-year basis. He told the committee that since 2018 the Commonwealth has announced more than 600 projects, more than 100,000 new direct jobs and more than $100 billion in capital investment, and that recent site grants…
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