Economic Development – Supporting Transformative Change

Economic Development - Supporting Transformative Change

Economic progress thrives on teamwork, necessitating the engagement of diverse stakeholders to execute successful projects and fulfill a community’s long-term growth vision. Yet, the journey of business ownership is often complex, with entrepreneurs facing challenges in navigating local, state, and governmental guidelines. Many require assistance in securing ideal real estate, adhering to regulatory frameworks, sourcing skilled talent, or accessing funding crucial for their growth or relocation endeavors.

Recognizing these hurdles, Volusia County Economic Development (VCED) plays a pivotal role in empowering businesses to achieve their goals. Acting as a liaison between businesses and local government agencies, VCED offers vital resources and guidance, driving strategic growth aligned with the community’s vision.

While the existence of these supportive initiatives might be common knowledge, lesser known are the impactful programs that VCED has devised to effect transformative change, particularly in infrastructure development.

One such initiative is the Volusia Special Infrastructure Grant Program, a 100% performance-based tool available to new and existing businesses. This program aims to facilitate groundbreaking projects by qualified businesses investing in the county’s infrastructure, encompassing essential elements such as water systems, sewer lines, roads, sidewalks, and more. By encouraging these transformations, the program catalyzes the creation of quality jobs within Volusia County, enticing new businesses to establish themselves and existing ones to expand within the region.

Qualification for the grant is contingent upon particular criteria, including the creation of 200 or more jobs paying at or above the county’s average annual wage, alongside a minimum expenditure of $25 million.

The tangible success of this program is vividly portrayed through the development of the 39-acre Tanger Outlet site. Serving as a catalyst for remarkable commercial growth, this site attracted more retail establishments and restaurants at the Interstate 95 and LPGA interchange. The development led to the creation of over 1,000 jobs, resulting in an impressive annual wage impact exceeding $2 billion in 2023 alone.

To learn more about Volusia County Economic Development’s array of business support programs, call 386-248-8048.