Roanoke County Offers New Business Equipment Acquisition Grant

The Roanoke County Economic Development Authority has announced a new Business Equipment Acquisition Program (BEAP) grant aimed at helping businesses in Roanoke County and the Town of Vinton.

The grant will offer funding opportunities for eligible for-profit businesses looking to enhance their operations through the acquisition of new capital. On a competitive basis, the Authority will award grants of up to 50% of capital acquisition costs in amounts up to $20,000 per award.

Eligible acquisitions must be taxable as business personal property or business machinery or tools. Some examples include furniture, fixtures, office and business machines, tools and equipment, and computer equipment.

To be eligible, businesses must:

• Employ more than three full-time employees at a physical location in Roanoke County.
• Have operated as a for-profit business in Roanoke County for at least one year.
• Hold a current Roanoke County or Town of Vinton business license and be in good standing with all local requirements and taxes.

Applications will be accepted beginning July 1, 2024, through September 1, 2024. Funding is limited and competitive, and grants are awarded at the sole discretion of the Authority. Recipients will be notified in the fall of 2024 and must complete their proposed acquisitions within one year of award notification.

For more information on the grant program and to apply, visit www.yesroanoke.com/BEAP

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