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Council committee forwards performance-grant agreement for VPM headquarters to full council
Summary
The Finance and Economic Development Standing Committee voted to forward Ordinance 2025-160, a performance agreement offering VPM Media Corporation a grant tied to personal property taxes, after hearing details about the $65 million headquarters and community benefits.
The Richmond Finance and Economic Development Standing Committee voted to forward Ordinance 2025-160 to the full council with a recommendation to approve, moving a performance-grant agreement for VPM Media Corporation’s new headquarters to the next stage.
The committee action follows a presentation from the Department of Economic Development and comments from VPM leadership and community supporters about the project’s economic and community benefits.
Katie McConnell, deputy director of the Department of Economic Development, told the committee the project represents a $65,000,000 capital investment and will locate a five-story headquarters for VPM on East Broad Street…
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