North Fork Discovery Park getting $3M to help speed up business growth in Albemarle
ALBEMARLE COUNTY, Va. (WVIR) - North Fork Discovery Park in Albemarle County is getting $3 million to continue its work.
Funding is coming from the Business Ready Sites Program grant, in collaboration with the UVA Foundation. They’re putting that money into 31 acres of land to be used to benefit businesses.
“This area will, in the future, accommodate a major employer that will create career-ladder jobs in our community,” J.T. Newberry with the Albemarle County Economic Development Office said. “We have businesses in our community that are growing and they’re looking for space to invest and grow, and a challenge to that investment is the timeline associated with the regulatory approval and the construction of that expansion.”
The money is expected to speed up the process of readying the land for growing businesses.
“We expect it to reduce the timeline for business expansion by 12 to 18 months,” Newberry said. “These funds will make a significant impact in our efforts to retain businesses that are growing here and flourishing.”
“These funds will make a significant impact in our efforts to retain businesses that are growing here and flourishing,” Deborah Van Eersel with the UVA Foundation said.
Do you have a story idea? Send us your news tip here.
Copyright 2023 WVIR. All rights reserved.