March 14, 2014
STAUNTON -- Business and city leaders in Staunton and Waynesboro are meeting on Tuesday afternoon for a workshop about how businesses may be able to qualify for state grant money to help them expand in the area.
If the businesses are located in the city's enterprise zones, they can qualify for the grants. The zones are specific parts of the city that leaders have designated and incentivized for development.
For example, downtown Staunton is a part of the Staunton enterprise zone. The grants can go towards businesses that plan to spend at least $100,000 in new renovations or expanding to create more than four new well-paying jobs. The goal is to attract companies willing to make strong investments in the area.
The companies can earn pretty sizable grants depending on how much they invest. Expanding can pose risks for the companies.
"This is a program that can help spur that development, and help provide an incentive, and a little bit of a payback to help reduce that risk slightly for private investors," said Amanda Glover, Staunton's assistant director of economic development.
She said one of the main objectives is to make downtown all encompassing, so people don't have to leave the city for goods and services.