On August 4, 2025, Governor Glenn Youngkin announced a new $40 million round of Virginia Business Ready Sites Program (VBRSP) grants aimed at fast‑tracking industrial site readiness across the Commonwealth. Chesapeake received $500,000 in this latest round, dedicated to accelerated site characterization at the city’s Coastal Virginia Commerce Park—a critical step in preparing the property for major industrial investment.
This new award follows a $35 million VBRSP grant that was authorized back in August of 2024, which was the largest single site development award in the program’s history. That investment fueled a series of major upgrades at the park, including infrastructure planning for roads and utilities, grading, environmental permitting, and other foundational work to elevate the site toward Tier 4 “shovel‑ready” status.
The Coastal Virginia Commerce Park, spanning 1,420 acres with an option for future expansion to more than 4,000 acres, represents one of Hampton Roads’ most significant economic development opportunities. The site is poised to attract large‑scale manufacturers, logistics operators, or advanced industrial tenants who can drive long‑term business growth in the region.
The additional $500,000 that is being awarded this month signals the state’s continued commitment to closing the readiness gap and accelerating the park’s timeline for landing a marquee tenant. Chesapeake’s success in securing multiple rounds of VBRSP funding reflects the city’s proactive strategy to position itself at the center of Virginia’s industrial growth.
As competition for large projects intensifies nationwide, capital investments like these are vital for Hampton Roads, ensuring the region can quickly respond to opportunities and offer shovel‑ready commerce sites that meet the needs of modern industry.
Chesapeake’s Coastal Virginia Commerce Park is now well‑positioned to do exactly that—delivering economic impact not just for the city and region, but for the Commonwealth as a whole.
