Subject to TVA regulatory oversight, BVU Authority budgets $500,000 annually from its electric division to support qualified economic incentive grants. Qualifying projects must be located inside the city limits of Bristol, Virginia. Also the project expenditures must provide a “commensurate benefit” to BVU’s electric system.
Businesses interested in applying for an incentive must file an application with BVU Authority. BVU staff and the Board of Directors review all applications. The Board publicly votes to approve, modify, or reject any applications. If approved, the applicant must negotiate a bilateral contract directly with BVU, to be ratified by the Board.
With the goal of full transparency to BVU’s ratepayers, the incentive process includes, but is not limited to:
- Award Decision
- Fund Disbursements
Additionally, BVU provides details of each incentive on its website (specific grants information is available via the links below), as required under Virginia Code 15.2-7202.18. Total funds expended by fiscal year are listed below. For more details, please review the individual grant documents of the BVU Audit for that fiscal year.
Please contact BVU for additional information on any specific grant.
- FY 2018: $0
- FY 2017: $0
- FY 2016: $156,983.88 ($114,983.33 ED Funds + $42,000 Marketing Funds)
- FY 2015: $389,409