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Albemarle County EDA authorizes first-year $100,000 payment for Siebel Biohub Go Virginia grant
Summary
The Albemarle County Economic Development Authority voted 5-0 to adopt a revised resolution authorizing the first $100,000 payment of a planned $300,000 county contribution to support the Siebel Biohub accelerator under a Go Virginia grant; the resolution clarifies milestones and allows the local contribution to be used for capital investments.
The Albemarle County Economic Development Authority voted to adopt a revised resolution authorizing the first-year payment of $100,000 toward a $300,000 county pledge supporting the Siebel Biohub accelerator under a Go Virginia grant.
JT Newberry, an economic development staff member, told the board that the state approved roughly $4,300,000 for the regional accelerator program and that the Siebel Biohub had secured about $2,700,000 in matching funds. Newberry said the city and county together will contribute $375,000 at the local level — $75,000 from the city and $300,000 from the county — with the county’s portion scheduled as three $100,000 payments over three…
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