Roanoke County announces new grant program to help local businesses acquire new equipment
Roanoke, Virginia – The Roanoke County Economic Development Authority has announced a new initiative to support local businesses through the Business Equipment Acquisition Program (BEAP) grant. This grant aims to help businesses in Roanoke County and the Town of Vinton enhance their operations by acquiring new capital equipment.
Grant Details and Eligibility
The BEAP grant offers funding opportunities for eligible for-profit businesses on a competitive basis. Grants will cover up to 50% of capital acquisition costs, with a maximum award of $20,000. Eligible acquisitions include taxable business personal property or business machinery and tools, such as furniture, fixtures, office and business machines, tools and equipment, and computer equipment.
To qualify for the BEAP grant, businesses must meet the following criteria:
- Employ more than three full-time employees at a physical location in Roanoke County.
- Have operated as a for-profit business in Roanoke County for at least one year.
- Hold a current Roanoke County or Town of Vinton business license and be in good standing with all local requirements and taxes.
Application Process
Applications for the BEAP grant will be accepted through September 1, 2024. Due to limited funding, the selection process will be competitive, and grants will be awarded at the sole discretion of the Authority. Recipients will be notified in the fall of 2024, and they must complete their proposed acquisitions within one year of the award notification.
For more information and to apply, visit www.yesroanoke.com/BEAP, call 540-772-2185, or email Karli Foster. For assistance with completing the application, visit any Roanoke County Public Library and request help at the desk. Additionally, upcoming Zoom webinars will be available to guide applicants through the process, with details found on the website.
This grant program represents a significant opportunity for local businesses to invest in their growth and development, ensuring a stronger economic future for the Roanoke County community.
