GRANTRADAR/Grant Programs/Commonwealth's Development Opportunity Fund (COF)
Virginia StateDirect GrantStackable

Commonwealth's Development Opportunity Fund (COF)

Administered by Virginia Economic Development Partnership (VEDP) · Virginia

BENEFIT
Negotiated / contact agency
Deadline type: rolling

Eligibility Requirements

  • 1Deal-closing grants at Governor's discretion
  • 2Awarded to localities on local matching basis
  • 3Must result in favorable location decision for Virginia
  • 4Qualifies for New Company Incentive Program (6-year state income tax exemption)

Eligible Project Types

CommercialIndustrialSmall Business
STACKING POTENTIAL

Commonwealth's Development Opportunity Fund (COF) is stackable — it can be combined with other federal, state, and local programs on the same project. Michigan and Ohio projects commonly stack this program with Federal Historic Tax Credit, New Markets Tax Credit, and Opportunity Zone deferral to maximize total incentive value. Use GrantRadar to see your full stack.

AFTER YOU WIN
View the Commonwealth's Development Opportunity Fund (COF) compliance checklist →

Reporting deadlines, vendor rules, and the disallowed-cost pitfalls that trigger clawbacks.

Source: Virginia Economic Development Partnership (VEDP) official program page ↗ · Last verified 2026-06-23
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STACKABLE WITH
Michigan Community Revitalization Program
Up to $10M · Direct Grant
Michigan Historic Preservation Tax Credit
25% credit · Tax Credit
Michigan Brownfield TIF
Negotiated / contact agency · Tax Increment Financing
Michigan Business Development Program
Up to $10M · Direct Grant
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