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Work on the Regional Economic Development Sites Inventory Continues

Work on the Regional Economic Development Sites Inventory Continues

The HRPDC continues to advance work on the Regional Economic Development Sites Inventory.  Phase I of this project was presented to the HRPDC at its February meeting and involves the identification of shovel ready mega sites of 100 acres or greater in size.  During the discussion of the site inventory by the HRPDC, several Commission members expressed interest in exploring the potential for joint site preparation and revenue sharing.  This topic was further discussed at the March CAO Committee meeting.  The CAO Committee noted that the Peninsula localities are developing a revenue sharing framework as part of work related to the unmanned systems initiative, and that this framework could serve as a template if there is interest in pursuing joint economic development and site preparation and revenue sharing.  It was noted that the revenue sharing framework for the unmanned systems initiative should be ready for review in early fall.

To advance the next phase of the sites inventory project, HRPDC staff is coordinating with Reinvent Hampton Roads to obtain funding to complete site characterization and certification for the top 20 sites in the Hampton Roads region over 100 acres in size.  This effort will result in each site being certified according to the Virginia Economic Development Partnership (VEDP) Tier system and will provide an indication of the “readiness” of each site for development.

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