Today, Stafford County officials are expected to provide the details of a regional partnership that would work to put large commercial building sites on the market.
During its Community and Economic Development Committee Meeting at noon, members will hear about a plan to create a Regional Industrial Facilities Authority (RIFA). According to county documents, the participating RIFA jurisdictions are Stafford and King George counties and Fredericksburg.
According to county documents, the General Assembly allocated $150 million to fund the Virginia Business Ready Site Program to develop “strategically significant” mega-sites and 100+ acre sites.
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The new funding is the most significant amount ever set aside by Virginia for site development to increase the marketability of sites across the state.
A RIFA does not tax or regulate or replace local economic development offices in each respective jurisdiction.
Stafford County is the largest of the three localities noted, with about 157,000 residents compared to 28,000 in Fredericksburg and about 27,000 in King George. Last year, Amazon announced it would open two logistical hubs in Stafford County.
Three sitting members of the Stafford County Board of Supervisors, Monica Gary, Crystal Vanuch, and Pamela Yeung, sit on the committee. Should the committee like what it hears, the proposed RIFA could head to the full Board of Supervisors for discussion later this year.
