Chesterfield Awarded Another $13 Million for Upper Magnolia Site Development
Additional funds to be used for preparing site for development
Governor Glenn Youngkin announced that the Upper Magnolia development site in Chesterfield has been awarded an additional $13 million grant under the Virginia Business Ready Sites Program (VBRSP). The Chesterfield grant was the second largest of any of the 23 sites receiving funding.
“The announcement of further state investment in Upper Magnolia infrastructure is exciting news as Chesterfield continues to progress design and engineering work,” said Board Chairman Jim Holland. “A continued partnership with VEDP at Upper Magnolia allows Chesterfield to aggressively market one of the largest developable sites in the Commonwealth while pursuing additional state and federal grant infrastructure funding. This announcement, which follows recent successful transportation bond sales, highlights Chesterfield’s pursuit and commitment to fully fund and construct the Powhite Parkway extension.”
The 1,728-acre Upper Magnolia site contains 1,000 acres of contiguous developable property and was re-zoned to I-2 by the Chesterfield Board of Supervisors. The property can be used for computer equipment manufacturing, electronics component & accessory manufacturing, laboratory manufacturing, pharmaceutical products manufacturing, office, research & development and data center development.
“Business-ready sites drive and accelerate economic growth, and our continued investments in site development position the Commonwealth to compete to win transformative projects that will bring hundreds and thousands of jobs to Virginia,” said Governor Glenn Youngkin. “A growing inventory of project-ready sites is a huge competitive advantage, and our investments in the Virginia Business Ready Sites Program were a big factor in Virginia being named America’s Top State for Business. Before we took office, Virginia was significantly behind our competitor states. We must continue the concerted effort we’ve made to invest in sites over the course of my administration and we’re looking forward to Virginians seeing the benefits of this work in the future.”
The program is administered by the Virginia Economic Development Partnership and is designed to develop sites to enhance Virginia’s infrastructure with more competitive project-ready sites, attract new business, and accelerate expansion in Virginia.
More information on the VBRSP is available at https://www.vedp.org/vbrsp.
