Tobacco Region Opportunity Fund (TROF)
This program provides performance-based financial support to businesses in the Tobacco Region that create jobs and contribute to the local economy, focusing on projects that attract new capital and enhance community prosperity.
Description
The TROF program aims to make localities in the Tobacco Region more attractive for business expansion or attraction projects by offering performance-based monetary grants and loans. Projects are evaluated on job creation, workforce participation rate, community affluence, prevailing community wage, and newly-created taxable assets. The program prioritizes businesses in traded sectors that bring new capital into the region, generally excluding retail, food service, and non-competitive local service projects. TROF offers both grants and loans based on project performance, with a minimum award threshold of $10,000, ensuring significant economic impact