HomeMy WebLinkAboutECONOMIC DEVELOPMENT SMALL BUSINESS RESOURCESSmall Business Resources
Emily Archer, Director of Economic Development
Jerry Mathis, Senior Business Development Manager
City Council, September 15, 2026
Purpose
Provide an overview of small business support and incentives
offered through the Department of Economic Development
•HIVE Resource Center
•Small Business Grants -EDIP Part F
•Façade Improvement Grant
•Workforce Development
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Economic Development: What We Do
1.Support and Expand the
City’s Tax Base
2.Spur Job Creation and
Investment
3.Help Businesses Start,
Grow, and Stay
Economic Development is a holistic practice
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Small Business in Virgina Beach
•The US Small Business Administration
classifies small businesses as those with
fewer than 250 employees
•Of the 39,000 registered businesses in
Virginia Beach, 99% are small businesses
•Small businesses are the backbone of the
Virginia Beach economy
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The HIVE Small Business Resource Center
•Opened in 2021, the HIVE helps entrepreneurs
and small businesses start and scale in the City
•Resources available with over 60 partners
include:
•Business Formation
•1:1 Coaching (Planning, Scaling, & Finance)
•Industry Guidance (Government Contracting, SWAM
Certification, Marketing)
•Financial Resources
•Educational Partnerships
•In FY25-26, the HIVE delivered:
•(165) Small Business Workshops
•(191) 1:1 Client Visits
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Small Business Grant Program
(EDIP Part F)
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•The Department of Economic Development
administers the Economic Development
Investment Program (EDIP) grants facilitated
through the City of Virginia Beach
Development Authority (VBDA)
•The EDIP program provides performance-
based, discretionary grants to qualifying
businesses that are relocating to or expanding
in Virginia Beach
The Small Business Grant
Program provides up to
$10,000 to help small
businesses strengthen
operations and grow.
For more details, visit:
yesvirginiabeach.com/sbg
Opening October 1st!
Small Business Grant Background
•In 2024, City Council approved an amendment
to the EDIP Policy, Part F, to create a dedicated
grant for small businesses
•Part F provides grants through VBDA, in an
amount up to ten thousand dollars ($10,000)
to small, women-owned, minority-owned,
veteran-owned, or service-disabled veteran-
owned businesses
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During the first round in
2024-2025, the program
awarded 17 grants totaling
$144,811
Small Business Grant Overview
Qualifications Include:
•Micro-business with fewer than 25 employees
•Holds a valid Virginia Beach business license
•Operated in the City for at least one year
•Current on the payment of all local taxes and fees
•Has not received any other grant from the Authority or the City within the past year (12 months)
•Does not employ an officer, official, or employee of the City, VBDA, or the Minority Business Council
Permitted Uses of Grant Funds Include:
•Marketing and advertising expenses
•Equipment/supplies purchases
•Working capital for the purchase of inventory or renewables
•Business expansion
•Real estate acquisition
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Small Business Grant 2024 Success
Grant Use
Category
#
Awarded
Grant
Paid
Example Businesses
Digital
transformation
& innovation
7 $63,972 Snapqube Corp (photo booth tech), Type A Virtual Solutions (IT
upgrade), Security Scholars (cybersecurity training)
Physical expansion
& improvement
4 $38,308 First Class Beauty Suites, Bounce Hoppers, EauBleue Solutions
(transport services)
Education & training
development
3 $30,000 Greight Company (children's book publishing), F.L.Y. Enterprises
(EV services + youth mentorship), Unique Skin & Beauty Bar
Marketing innovation
& outreach
3 $14,250 Food Temptress Cookbook Store, The Book Artist LLC, Executive
Decisions
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Current Application and Program Schedule
•$150,000 Budget Allocation
•Interested businesses must attend a mandatory pre-application workshop:
Date Times Location
Tuesday, September 22 10 a.m. – 12 p.m.
6 p.m. – 8 p.m.
140 Independence Blvd., Suite
100, Virginia Beach, VA
& Virtually
Monday, September 28 10 a.m. – 12 p.m.
6 p.m. – 8 p.m.
140 Independence Blvd., Suite
100, Virginia Beach, VA
& Virtually
•Application window opens October 1, 2026 – open for 30 days.
•Targeting December 2026 to present recommended awardees to the VBDA
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Facade Improvement Grant (FIG) Program
•The FIG Program provides matching grants to small
(under 50 employees), locally owned and operated
businesses
•50% matching grant program for significant exterior
improvements in any commercial or industrial zoned
area
•Eligible investments include visible exterior building
improvements (windows, doors, awnings, lighting),
signage, fencing, landscaping, and parking upgrades
•Applications accepted annually in January; awards up
to $10,000
The Small Business Grant
Program provides up to
$10,000 to help small,
underserved businesses
strengthen operations and
support growth.
For more details, visit:
yesvirginiabeach.com/sbg
Opening October 1st!
2023 FIG Recipient
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FIG Program Success
•Growing out of the ViBe matching grant
program in 2021, the VBDA has approved
85 awards totaling $598,734, spurring over
$2,500,000 in private investment of Virginia
Beach’s commercial corridors to date
•The FIG is administered through the VBDA,
but funded annually at $100,000 through
the Department of Economic
Development’s operating budget
In 2026, the VBDA approved 14 awards in the
amount of $112,255 across 7 districts
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Workforce Development Support
•Economic Development has a dedicated
workforce development manager to assist
businesses with recruitment,
talent development, and retention of
employees
•In FY25/26, over 60 businesses met with staff
for workforce support
•Increased engagement with transitioning
military member workforce programs
VBED Staff at Langley Airforce
Base Career Summit
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Workforce Development Programming
Partnered with numerous organizations and educational
institutions to connect businesses with programming,
including:
•Hampton Roads Workforce Council On-the-Job and Incumbent
Worker Training programs
•Virginia Beach City Public Schools’ Technical & Career Education
•Tidewater Community College Workforce Solutions
Certification Programs
•Batten University Training Courses
•Hampton Roads Veterans Employment Center Connections &
DoW SkillBridge Guidance
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January 2026 Workforce
Connections Event
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What’s Next?
•Kicking off the Economic Development Strategic Plan update
(FAP 2.2), to include a review of incentives and business support,
and target industries with opportunities for public input
•VBDA discussions around EDIP updates to include:
•Comprehensive Part F Small Business support and opportunities
•Refining target industries eligible for incentives
•Inclusion of more tools for redevelopment
For More Information:
Small Business Grant
Opening October 1st
Contact: Jerry Mathis,
HIVE Manager, at
thehive@vbgov.com or
757-385-2470
Façade Improvement Grant
Opening January 2027
Contact: Eric Severn,
Planner II, at
ESevern@vbgov.com or
757-385-2907
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