Franklin gets new tool to attract businessPublished 10:19am Friday, April 5, 2013
BY ANDREW FAISON/CONTRIBUTING WRITER
FRANKLIN—Franklin has officially been added to a list of localities that would allow businesses connected to the Port of Virginia to locate or expand and be eligible to apply for grants based on jobs created.
House Bill 1327, introduced by Del. Rick Morris, added Franklin to the Port of Virginia Economic and Infrastructure Development Zone Grant Fund. Franklin was originally on the list of localities when the zone was created, but due to a clerical error was left off.
President and Chief Executive Officer of the Franklin-Southampton Economic Development Inc. Amanda Jarratt is glad to see the error corrected.
“This is another tool we can use to market to potential business and industry,” Jarratt said. “This allows us to take part in this program and market it as it develops.”
The Port of Virginia Economic and Infrastructure Development Zone Grant Program will provide grants ranging between $1,000 per new job, for companies that create 25 or more new jobs, to $3,000 per job, for companies that create 100 or more jobs.
Companies involved in the distribution, manufacturing, warehousing or wholesaling of goods shipped into or out of the port, as well as companies involved in marine construction, ship building and repair, and other aspects of maritime commerce that expand or locate a facility within the zone will be eligible for a grant provided they meet the job-creation requirements.