VBRSP UPDATE: Beale Farm

VBRSP UPDATE: Beale Farm

Franklin Southampton Economic Development, Inc. (FSEDI) has been a key partner in the Virginia Business Ready Sites Program (VBRSP) project for the Beale Farm property.  Almost completed, the VBRSP project has utilized almost a quarter-million dollars of Commonwealth funding to help Southampton County make the property more marketable for outside investment.  The likelihood is that the Beale Farm will go from Tier 2 to Tier 4 in the Virginia Economic Development Partnership (VEDP) site ranking system.  Based on research conducted by the Timmons Group, the leaders in economic development site development work in Virginia, every dollar invested in up-front due diligence yields seven to nine dollars in sales and tax revenue after the property is developed while also making it more likely that the site will be occupied by an expanding company. 

Another related project is starting at the Southampton Commerce and Logistics Center, funded with GO Virginia monies.  Enhancing both of these sites will make them more attractive for investment and help the County’s taxpayers and economy.