Virginia lacks sites ready for development, report says

Virginia has nearly 500 sites available for factories or distribution centers to be built.

But only 30 of them are marketable as Virginia competes with other states for big economic development deals. That’s according to a study presented by the Virginia Growth and Opportunity Board on Monday.

The Richmond Times Dispatch reports that many sites lack the necessary landuse approvals or environmental reviews and other work necessary for construction within 18 months.

Stephen Moret, the Virginia Economic Development Partnership president and CEO, said “another state has a better shot” than Virginia at landing big economic development projects without those kind of sites.

Moret said the study is the first of its kind in the country to catalog every potential development site of 25 acres or larger. Virginia lags behind other states in readying sites for development. But he said the report provides an advantage that other states don’t have — “site intelligence.”