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Board approves $30,000 county match for Project RISE at VT Corporate Research Center
Summary
Montgomery County agreed to contribute $30,000 as part of a regional match for a Go Virginia grant supporting Project RISE, an ERC expansion at the Virginia Tech Corporate Research Center. Staff said the CRC and Virginia Tech will provide larger matching funds and that past CRC startups have led to local economic activity.
The Montgomery County Board of Supervisors voted 6–0 on Aug. 10 to approve a $30,000 contribution toward Project RISE, a Go Virginia‑funded initiative hosted at the Virginia Tech Corporate Research Center (CRC) to support technology commercialization, mentorship, and startup growth.
County staff said Virginia Tech and the CRC will provide more than $2 million in matching funds for the ERC expansion, and that the project is a regional collaboration including Botetourt, Pulaski, and Roanoke Counties; Roanoke County committed roughly $600,000. The county administrator said prior CRC initiatives produced companies that later located in the county and generated tax revenue.
Supervisors who have toured the CRC described meetings with startups and mentors and said the center has helped form businesses that later contributed to the regional economy. Supervisor discussion acknowledged the county's financial contribution is comparatively small but argued it supports a demonstrated regional economic‑development pipeline.
The board approved the appropriation by roll call vote (6 ayes). County administrators said the appropriation is subject to appropriation and partnership agreements and that staff will monitor progress and outcomes associated with Project RISE.
