City of Lynchburg Awarded Grant Funding for Ivy Creek Innovation Park

Governor Glenn Youngkin announced last Friday that the City of Lynchburg was awarded $4 million for industrial site development in Ivy Creek Innovation Park. The award is part of a total of $40 million in Virginia Business Ready Sites Program (VBRSP) development grants for 13 sites across the Commonwealth. This funding will help ensure Ivy Creek Innovation Park is project-ready — a critical edge in attracting high-impact projects and new jobs to the city of Lynchburg. 

“Business-ready sites are instrumental to Virginia’s ability to compete and win economic development projects and create great new jobs for Virginians,” said Governor Glenn Youngkin. “Since 2022, we’ve seen more than $125 billion in capital investment committed by companies expanding or moving to Virginia because they know they can move quickly on these landmark projects. The historic investments made during our administration and the projects we’ve won underscore why it’s so important that we continue investing in this program. The Virginia Business Ready Sites Program is a game changer for our economic development strategy.”  

VBRSP partners with localities, utilities and state agencies to fund infrastructure improvements that build operations-ready sites for employers and manufacturers ready to expand across Virginia. Investments like these are why Virginia earned the No. 2 ranking in the nation for infrastructure by CNBC.

“This award is a major milestone in positioning the City of Lynchburg for high-impact, future-focused growth. Ivy Creek Innovation Park represents the next chapter in our city's industrial development — one that will attract advanced manufacturing and engineering firms while creating high-quality jobs for our community,” said Marjette Upshur, Director of Economic Development & Tourism for the City of Lynchburg. “We are grateful for the partnership of the Commonwealth and proud to be among the localities leading the charge to make Virginia more competitive on a national scale.”

The City of Lynchburg’s Office of Economic Development & Tourism has worked on a master plan and site development efforts for Ivy Creek Innovation Park to increase the marketability of Lynchburg’s industrial offerings, making it more competitive for economic development projects including advanced manufacturing, nuclear technology and engineering services. 

“The Economic Development Authority is proud to support this catalytic investment in the City of Lynchburg’s future,” said John Stone, Chair of the Economic Development Authority of the City of Lynchburg. “With this grant and our local match, we are unlocking the potential of Ivy Creek Innovation Park to serve as a magnet for industry, innovation and long-term economic opportunity. This is exactly the kind of strategic site development that strengthens our city’s competitive edge.”