                                 CODE OF VIRGINIA

OBJECTIVE OF THE PROGRAM (§ 2.2-2763)

The objective of the Program shall be to identify and fill gaps in the
Commonwealth&#8217;s current portfolio of industrial properties available for
large-scale economic development projects in order to accelerate economic growth
in all regions of the Commonwealth. In evaluating sites to acquire, option,
develop, or market for purposes of the Program, the Authority shall consider (i)
the potential of the site to fill a gap in the inventory of needed project-ready
sites in the Commonwealth, (ii) the scope and cost of the work required to make
the site project ready, (iii) the potential return on investment for the
Commonwealth for the cost of acquiring and developing the site, and (iv) the
type of industry or business for which the site would be suitable.

HISTORY: 2023, c. 779.