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"Economic Development Investment Program (EDIP)" is currently closed and not accepting applications.
Economic Development Investment Program (EDIP) is sponsored by Virginia Beach Development Authority (VBDA). This program provides 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).
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YesVirginiaBeach. com ~ Economic Development Investment Program Economic Development Investment Program Supporting business growth in Virginia Beach through strategic local investment incentives. 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 36 months or 48 months for APZ-1 awards.
EDIP Policy and Procedures EDIP Application Process Economic Development projects are presented for incentive consideration at the VBDA monthly meetings. To ensure the project is submitted promptly, contact the applicable business development manager to discuss project eligibility and to receive guidance on the required application process and financial documentation.
Submit Application, Disclosure Statement, and Project Summary Staff Review and Recommendation (2-3 days) VBDA Closed Session Briefing (monthly meetings) VBDA Public Action (monthly meetings) Submit Performance Documentation Staff Review (up to 30 days) Whether expanding, relocating, or investing in new facilities, eligible businesses may benefit from opportunities that help drive growth and long-term success in the community.
Reach out to our staff to learn more about the incentive program - what's eligible, what's not, and how to apply. The Small Business Grant (EDIP Part F) is designed to expand access to funding for small businesses in Virginia Beach. The program especially focuses on supporting women-owned, minority-owned, veteran-owned, and service‑disabled veteran‑owned businesses.
This grant program is currently closed and expected to reopen by the end of 2026. For more information, please contact The HIVE. Acoustical Sheetmetal Third Expansion In June 2025, Virginia Beach celebrated the expansion announcement of Acoustical Sheetmetal Company, joined by Governor Glenn Youngkin.
The $45. 8 million investment will bring 350 new full-time jobs to the city and includes a new 250,000 square foot building. After this expansion, the company will be 850 strong, making it one of Virginia Beach’s top employers.
Read the latest news releases to stay informed about new business announcements, economic development initiatives, and other updates shaping the community’s growth and success. Download the FY25 VBDA Annual Report to see the most recent EDIP awards.
According to the current listing, eligibility includes: Eligible companies making new capital investments and creating new jobs in Virginia Beach. Confirm the full requirements in the official notice before applying.
The published deadline was June 24, 2026, which has passed. Check the official notice for any future application windows before investing time in a proposal.
Economic Development Investment Program (EDIP) is funded by Virginia Beach Development Authority (VBDA). Verify program details on the funder's official page before applying.
This opportunity targets applicants in Virginia. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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