Economic Development Investment Program (EDIP)
Economic Development Investment Program Part E Grant
Note: We are no longer accepting new applications at this time.
The purpose of the City Virginia Beach Development Authority is to promote small business, and as such, this Part E of the EDIP is intended to allow the Authority to contribute to the economic health of the City and Commonwealth by providing small business assistance grants.
Business Qualifications/Criteria
Approved VBDA Part E Awards
Economic Development Investment Program (EDIP)
The City's Economic Development Investment Program (EDIP) is a locally funded
discretionary incentive program available to assist qualifying companies with their growth needs in Virginia Beach. The Virginia Beach Development Authority (VBDA) has been administering this program on behalf of the City Council since 1994. The program may provide cash grants to eligible companies based on the average annual salary and number of new jobs created, and/or new capital investment made over a 36-month period or 48 months for APZ-1 awards.
EDIP Application Process
Economic Development projects are presented for incentive consideration at the
VBDA monthly meetings. To ensure the project is submitted in a timely manner, contact the applicable business development manager to discuss project eligibility, and to receive guidance on the required application process and financial documentation.