2017 Annual Report

Hubble Lighting receives their Port of Virginia Economic and Infrastructure Development Grant.

BUSINESS RETENTION & EXPANSION

BUSINESS RETENTION & EXPANSION PROGRAM

TWOMONTGOMERY COUNTY COMPANIES RECEIVE PORT OF VIRGINIA GRANTS Seven companies located in the Commonwealth of Virginia were recipients of grant money from the Port of Virginia Economic and Infrastructure Development Grant Program, a program designed to encourage investment, reinvestment and job creation among companies in Virginia that are port users. Two grant recipients are located in Montgomery County: Hubble Lighting, Inc. and Wolverine Advanced Materials. As recipients of this Port of Virginia grant, Hubble Lighting will create 100 jobs, and received a grant in the amount of $315,000. Wolverine Advanced Materials will create 93 jobs, and received a grant of $91,500. In fiscal year 2017, which ran from July 1, 2016 to June 30, 2017, the Port of Virginia Economic and Infrastructure Grant Program gave out $2.17 million in grants to seven Virginia companies. In 2017, the Department visited 45 separate companies, 12 of which required follow up information or services. Overall, the Department conducted a total of 67 visits. Nine companies supported through the program announced or completed expansion or relocation projects that will result in $9.788million in total new private investment and 143 new jobs. The Economic Development Department uses its Business Retention & Expansion (BRE) program as a way of maintaining good relationships and communication with companies in Montgomery County. Department staff arrange face-to-face BRE visits with local businesses to identify and help solve any problems or barriers that may be undermining their overall success and growth in our community.

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2017 Annual Report | Montgomery County Economic Development Department