Growth Matters: Façade Improvement Grants Return for Fifth Year

The Virginia Beach Department of Economic Development (VBED) is dedicated to creating a thriving economy by attracting new companies, supporting existing businesses and assisting entrepreneurs. Find out what projects VBED has been working on throughout January and February:  

Project Announcements 

Coastal Virginia Offshore Wind (CVOW) Project Powers Forward 

Dominion Energy's record-breaking 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project hit the 50% completion point and made history as the massive offshore wind substation arrived at the Portsmouth Marine Terminal. The substation is the first ever at a U.S. East Coast port and the heaviest equipment ever handled at the facility. 

This critical component will soon channel clean energy from wind turbines located 27 miles off Virginia Beach's coast directly to shore. This milestone is integral to completion of the nation's largest offshore wind installation that will inject $2 billion into the regional economy. It will also create as many as 2,000 high-quality jobs and solidifies Hampton Roads as a leader for renewable energy innovation and supply chain excellence.

Globalinx Data Center Launches Groundbreaking Subsea Fiber Optic Project 

Globalinx recently broke ground on an expansion at its Sandbridge landing site, adding four new subsea cables and more than doubling capacity at Corporate Landing Business Park. Once complete, its seven tunnel bores will be the most operated by a single company on the East Coast. 

By expanding its subsea cable landing stations, Globalinx is strengthening digital infrastructure to provide reliable, high-speed internet for businesses, governments and educational institutions, while also addressing the growing demand for cloud computing, Artificial Intelligence and other digital services.  

With its expanded capacity, Globalinx is solidifying Virginia Beach as a global connectivity hub, linking the U.S. to major international networks, and positioning the city as the premier digital port on the East Coast. 

Virginia Beach Development Authority Awards Over $144,000 in Small Business Grants 

Sixteen local businesses are set to grow and transform their businesses with a total of $144,811 in small business grants offered by the Virginia Beach Development Authority (VBDA). These investments will support the development of new products, services and infrastructure, creating lasting contributions to the local economy. 

The VBDA launched the Small Business Grant Program in September 2024 to support small-, women-, minority-, veteran-, and disabled veteran-owned businesses in the city. The program offers grants of up to $10,000 to qualifying businesses, providing essential funding to help local entrepreneurs expand and drive economic growth within the community. 

Business & Community Updates 

Façade Improvement Grants Return for Fifth Year 

The Virginia Beach Development Authority (VBDA) is bringing back its Façade Improvement Grant (FIG) program for a fifth year, supporting small businesses in enhancing their properties. The program offers matching grants of up to $10,000 for exterior upgrades such as windows, doors, signage, lighting and more. 

It is open to Virginia Beach-licensed small businesses and nonprofit entities with fewer than 50 employees. Properties must be zoned for commercial or industrial use and in good standing with city taxes and fees. 

Grants are awarded competitively on a first-come, first-served basis. Improvements must be completed within six months of receiving funds. Apply now at Virginia Beach Department of Economic Development FIG.  

Available Resources 

VBED offers many resources to connect residents with the information they need to grow or expand their businesses, including The HIVE small business resource center, located in Town Center. The HIVE offers expert consulting, training programs, mentorship, networking opportunities and office space. Follow The HIVE on Facebook, Instagram and LinkedIn for tips and resources to help your business thrive!  

The City also offers a discretionary incentive program, Economic Development Investment Program (EDIP) grants, available to assist qualifying companies with their growth needs in Virginia Beach. If you are a new or expanding business in the city, you may qualify. Contact the applicable business development manager to discuss project eligibility and to receive guidance.  

To stay up to date on VBED’s latest project announcements and available resources, subscribe to Economic Development’s email newsletter.