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.