RICHMOND, Va. (WAVY) – In an effort to build off the momentum of being named CNBC’s “Top State for Business” for a sixth time, Gov. Glenn Youngkin is announcing millions of dollars are headed to several communities in order to make properties ready for new business.

In total, $126 million in Virginia Business Ready Sites Program (VBRSP) development grants are headed to 23 sites across the Commonwealth.

Four of the sites are within Hampton Roads, including the property receiving the largest cut of the money: Chesapeake’s Coastal Virginia Commerce Park.

The cash will help with the planning and installation of infrastructure improvements, all in an effort to make the property more appetizing for employers and manufacturers looking to expand in the Commonwealth.

From the get-go, Youngkin made the creation of more “shovel ready” sites a priority.

“Business-ready sites drive and accelerate economic growth, and our continued investments in site development position the Commonwealth to compete to win transformative projects that will bring hundreds and thousands of jobs to Virginia,” Youngkin said. “A growing inventory of project-ready sites is a huge competitive advantage, and our investments in the Virginia Business Ready Sites Program were a big factor in Virginia being named America’s Top State for Business.

In total, $35 million will be headed to Chesapeake’s Economic Development Authority (EDA) in this round of funding from the VBRSP.

The authority owns the 1,420 acres of land set to become the Coastal Virginia Commerce Park.

The land is a small portion of a much larger plot of farmland owned by Virginia Beach’s Frank T. Williams. It sits with Route 17 directly to its west, the North Carolina state line directly to its south, Cavalier Wildlife Management Area to the east and Ballahack Road is north.

“It’s near the ports and it’s one of the most sought after opportunities by companies,” Youngkin said. “We just need to get it ready.”   

The land is as rural as it gets with little major roadway access, and no municipal sewer and water.

Steven Wright, Chesapeake’s economic development director, said the city estimates it’ll cost nearly $300 million to extend utilities eventually.

“This $35 million will help with that,” Wright said.

While no user has yet to commit to the commerce park, Youngkin is sending $3.5 million in additional funds to help prepare land in Suffolk for the Port 460 project.

On 540 acres of farmland just North-West of where Route 460 meets the Suffolk bypass, the Maryland-based Matan companies plans to build up to 10 new warehouses that would ultimately be marketed for logistics uses.

The Virginia Economic Development Partnership (VEDP) announced that Air Commerce Park at the Newport News Williamsburg Airport has been awarded a grant for over $300,000.

According to a release from the City of Newport News, the $327,600 grant, from the Virginia Business Ready Sites Program (VBRSP), is an important step towards the city’s mission for aviation-related industrial and commercial growth.

Grants from VBRSP are awarded based off of a competitive review process, and go towards the development of business-ready sites, enhancing Virginia’s infrastructure, and strengthening the Commonwealth’s competitive edge.

“This grant is a game-changer for Newport News,” Mayor Philip Jones said. “It will allow us to conduct vital site development studies, setting the stage for future growth and investment. This project is a testament to our unwavering commitment to driving economic development, creating jobs, and improving the quality of life for our residents. The collaborative efforts between the Commonwealth, the City, the Newport News Economic Development Authority and the Peninsula Airport Commission are setting us on a path to a brighter, more prosperous future.”