ED + Infrastructure Grant Program
The Port of Virginia Economic and Infrastructure Development Grant Program (POV Grant) provides a grant to certain Qualified Companies, as described below, to incentivize companies to locate new maritime-related employment centers or expand existing centers in specified localities in order to encourage and facilitate the growth of The Port of Virginia in accordance with criteria established by legislation. The statutory provisions for the POV Grant can be found at Section 62.1-132.3:2 of the Code of Virginia.
POV Zone Grants are made at the discretion of the Executive Director of the Virginia Port Authority (VPA) with the expectation that grants awarded will be used to assist a Qualified Company to locate a new operation or expand an existing operation within the Commonwealth of Virginia.
Subject to appropriation, a POV Grant is available from January 1, 2014 until June 30, 2025. The maximum amount of grant allowable per Qualified Company is $500,000 and the maximum amount of POV Grants allowable among all Qualified Companies in any given fiscal year is $5 million. The maximum amount of POV Grants allowable among all Qualified Companies is $2 million.
An otherwise Qualified Company that claims employees for the Major Business Facility Job Tax Credit (Code of Virginia Section 58.1-439) or International Trade Facility Tax Credit (Code of Virginia Section 58.1-439.12:06) may not receive a POV Grant for those previously-claimed jobs.
How Do I Apply?
Review the full Grant Program Guidelines to make sure that your company meets the eligibility requirements.
Review the Memorandum of Understanding (MOU) that will be required should your company be awarded a grant.
Request a “Grant Portal” which will be your single resource for completing the grant application and reporting requirements.
For more information, please contact:
Vice President, Economic Development
Virginia Port Authority
600 World Trade Center
Norfolk, VA 23510
Aid to Local Ports Program
he Virginia Port Authority will host applicants for the Aid to Local Ports program and the Waterway Maintenance Fund program on Tuesday, February 11, 2020. Applicants are invited to attend this meeting to present new project requests or provide updates on existing projects. The Aid to Local Ports presentations will be held from 10:00 a.m. to noon and the Waterway Maintenance Fund presentations will be held from 1:00 p.m. to 3:00 p.m. at our offices located at 600 World Trade Center, Norfolk, VA. If you plan to attend the meeting, please RSVP to email@example.com
The Aid to Local Ports program is a result of the Virginia General Assembly’s 1986 legislation establishing a Commonwealth Port Fund. The purpose of the fund is to support port capital needs and the preservation of existing capital needs of all ocean, river, or tributary ports within the Commonwealth. In the interest of the public body and pursuant to its statutory responsibility to foster and stimulate the flow of commerce through the ports of Virginia, the policy on grants to local governments was established and adopted on July 28, 1987. The purpose of the program is for local governments to make application for a portion of the Commonwealth Port Fund that is set aside each year for this purpose. The Aid to Local Ports Fund appropriation is $1,000,000.
Application Deadline: March 1
Click here to view the Aid to Local Ports Policy
Virginia Waterway Maintenance Fund
In May 2018, the Virginia General Assembly established the Virginia Waterway Maintenance Fund for the purpose of supporting shallow-draft dredging projects throughout the Commonwealth. The source of the grant funds shall be the Virginia Waterway Maintenance Grant Fund. The Virginia Port Authority finds it necessary and in the public body interest, and pursuant to its statutory responsibility, to establish the Virginia Waterway Maintenance Grant Program Guidelines.
Application Deadline: March 1
Click here to view the Virginia Waterway Maintenance Fund