Valley Innovation Park Site Selected for Virginia Business Ready Sites Program Development Grant

FREDERICK COUNTY VIRGINIA – Valley Innovation Park in Frederick County, Virginia, has been selected an award recipient for the Virginia Business Ready Sites Program (VBRSP). On January 16, 2023, Governor Glenn Youngkin announced a total of $90 million in VBRSP development grant funding for 21 sites across the Commonwealth. Administered by the Virginia Economic Development Partnership (VEDP), this discretionary program helps characterize and develop sites to enhance the Commonwealth’s infrastructure with more competitive project-ready sites, to attract new business and accelerate expansion in Virginia. The program’s goal is to identify, assess, and improve the readiness of industrial sites with at least 100 contiguous, developable acres or 50 acres in the western part of the Commonwealth.

Valley Innovation Park encompasses approximately 150 acres and will offer up to 2 million square feet of industrial buildings. The industrial park will be built on both sides of the future Renaissance Drive extension in Frederick County. The extension will run between Valley Pike (U.S. 11) south of Va. 37 and Shady Elm Road.

“The grant award elevates Frederick County’s competitiveness for growing targeted industry sectors, including advanced manufacturing and bioscience. Access to project-ready sites, like Valley Innovation Park, is identified as a top priority in site selection by companies. The Frederick County EDA will partner with the Peterson Companies, owner of Valley Innovation Park, on this grant award for its successful implementation and in attraction of targeted industries.”

– Patrick Barker, CEcD, Frederick County Economic Development Authority, Executive Director

“We are pleased that Valley Innovation Park has been selected as a VEDP grant recipient. The funds will accelerate key utility upgrades, including a new onsite substation that will provide enhanced power to meet the site development requirements of sophisticated manufacturing and biotech users.”

– Taylor Chess, Peterson Companies, President, Development

Read the full press release from the Governor’s Office here.