City of Roanoke commits new funding to help local businesses purchase equipment through matching program
Roanoke, Virginia – Businesses in the City of Roanoke will soon have access to a major new initiative designed to reduce the financial burden of purchasing essential equipment. The Economic Development Authority (EDA) of the City of Roanoke has announced the creation of the ’25–’26 Business Equipment Incentive Program, backed by $250,000 in funding. This program aims to support local companies by providing matching funds for qualifying equipment purchases, giving them the opportunity to grow and strengthen their operations.
The program offers a 50/50 cost match, ensuring that businesses can share the expense of investments while receiving meaningful financial support. Manufacturing and industrial companies can receive up to $20,000 in matching funds, while commercial and retail businesses are eligible for awards of up to $5,000. Funding will be distributed on a first-come, first-served basis, encouraging businesses to prepare their applications early.
Eligibility and Application Timeline
To qualify, businesses must have been operating within the City of Roanoke for at least one year at a commercially zoned location. They must also employ one or two full-time W-2 employees, depending on the industry, and remain in good standing with the City’s business license and tax requirements. Importantly, all equipment purchases must be made after the application period begins.
Applications officially open on October 1, 2025, at 8 a.m. Businesses are encouraged to review eligibility requirements and gather the necessary documentation ahead of time to ensure timely submission.
According to city officials, the program is designed to empower Roanoke businesses to make strategic investments that will not only improve their efficiency and competitiveness but also support the city’s economic growth. For more information on eligibility, documentation, and how to apply, interested businesses can visit the Economic Development section of the City of Roanoke’s website.
This program highlights the city’s commitment to strengthening its business community, helping local companies access the tools they need to thrive in a competitive market.
