Local businesses in the City of Roanoke seeking to expand their operations will soon have access to a program designed to help offset the cost of acquiring essential equipment. The Economic Development Authority (EDA) of the City of Roanoke has committed $250,000 to the ’25–’26 Business Equipment Incentive Program, which will provide matching funds for qualifying equipment purchases.
The program offers a 50/50 match, with a maximum award of $20,000 for manufacturing and industrial businesses and $5,000 for commercial and retail businesses, helping companies make strategic investments in their operations. Funding is available on a first-come, first-served basis.
Eligible businesses must have operated in the City of Roanoke for at least one year in a commercially zoned location, employ one or two full-time W-2 employees depending on the sector, and be in good standing with the City’s business license and tax requirements. Purchases must occur after the application period has opened.
“For any business, purchasing equipment is a major capital investment, and our Economic Development staff regularly hears from owners seeking financial support for these costs,” said Braxton Naff, EDA Chair. “We’re proud to help businesses across the City – from restaurants upgrading their kitchens to manufacturers expanding production capacity.”
Applications will open October 1, 2025 at 8:00 a.m. More information on eligibility, required documentation, and the application process, visit www.bizroanoke.com.
