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Tobacco Region Opportunity Fund (TROF)

This program provides performance-based financial support to businesses in the Tobacco Region that create jobs and contribute to the local economy, focusing on projects that attract new capital and enhance community prosperity.

$10,000
Active
Rolling Deadline
Recurring
Grant Description

The TROF program aims to make localities in the Tobacco Region more attractive for business expansion or attraction projects by offering performance-based monetary grants and loans. Projects are evaluated on job creation, workforce participation rate, community affluence, prevailing community wage, and newly-created taxable assets. The program prioritizes businesses in traded sectors that bring new capital into the region, generally excluding retail, food service, and non-competitive local service projects. TROF offers both grants and loans based on project performance, with a minimum award threshold of $10,000, ensuring significant economic impact​

Funding Details

Award Range

$10,000 - Not specified

Total Program Funding

Not specified

Number of Awards

Not specified

Matching Requirement

Yes -

Additional Details

Monetary grants and loans are provided based on project performance. Projects are evaluated for eligibility through an optional incentive estimate.

Eligibility

Eligible Applicants

County governments
City or township governments
Special district governments

Additional Requirements

- Localities and other local or regional political subdivisions within the Tobacco Region are eligible applicants.

Geographic Eligibility

All

Key Dates

Application Opens

Not specified

Application Closes

Not specified

Contact Information

Grantor

The Virginia Tobacco Region Revitalization Commission

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Categories
Business and Commerce
Community Development

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