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EDA staff report: strategic plan finalized; Rivanna Futures wins $9.7M in state funding; biotech initiatives advance
Summary
Albemarle County economic development staff reported adoption of the county's economic development strategic plan, a $9.7 million Virginia Business Ready Sites award for the Rivanna Futures project, a pending VDOT Economic Development Access Program design application, and $15 million in state support for a bio-accelerator expansion.
Albemarle County economic development staff told the authority that the county's economic development strategic plan has been finalized and that the office is shifting to implementation work, including metrics, website updates and partnership outreach.
Staff reported that the Rivanna Futures project received a $9,700,000 award from the Virginia Economic Development Partnership's Business Ready Sites program. The EDA had applied for $14,000,000; the program's total budget this year was $40,000,000 and staff said applicants requested about $250,000,000 in total. Staff said it is now working with VEDP to finalize the scope of work that $9.7 million will deliver.
County staff also said they are pursuing design funding through the Virginia Department of Transportation's Economic Development Access Program for a road extension of Boulders Road. The design application is for "just under $700,000," staff said, and the Commonwealth Transportation Board will take a second reading of the application at its September meeting (staff indicated the board's September meeting occurs on the third Wednesday).
Staff highlighted several bioeconomy initiatives: participation in the BioBridge Talent Pathways steering committee, coordination on the Central Virginia Innovation Corridor planning grant (Go Virginia funding), and the Commonwealth Bio Accelerator expansion. Staff said the Siebel Biohub-led BioBridge effort is on track to finish data and stakeholder work by the end of the calendar year. The county also welcomed a $15,000,000 state commitment to expand the wet-lab accelerator at North Fork following a three-year pilot funded locally and regionally.
Chair Long and staff noted the EDA's recent presence at community events and regional partnership activities, including participation in a change-of-command event at the National Ground Intelligence Center and county fair engagements. Staff said business retention and expansion outreach and targeted company tours with the Commonwealth are planned for September.
Staff did not present formal motions on these items during the meeting; rather, updates were provided and staff outlined next steps for finalizing plan edits, publishing the strategic plan, and advancing grant and design applications.
