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.
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
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.
Eligible Applicants
Additional Requirements
- Localities and other local or regional political subdivisions within the Tobacco Region are eligible applicants.
Geographic Eligibility
All
Application Opens
Not specified
Application Closes
Not specified
Grantor
The Virginia Tobacco Region Revitalization Commission
Phone
(804) 225-2027Subscribe to view contact details
Subscribe to access grant documents