The Beulah Road site is between the airport’s southeast corner and Interstate 295. (Image courtesy VEDP)
HENRICO COUNTY, Va. — Jan. 28, 2026 — The Henrico County Economic Development Authority (EDA) is moving forward with plans to prepare a major development site adjacent to Richmond International Airport (RIC), leveraging a $1 million state grant to significantly enhance the site’s development readiness.
Under a proposed agreement with the Capital Region Airport Commission, the EDA would use the funding to advance approximately 200 acres southeast of the airport as a market-ready industrial site. The grant was awarded through the Virginia Economic Development Partnership (VEDP) via its Virginia Business Ready Sites Program, which supports the assessment and preparation of large industrial properties across the Commonwealth.
The site includes more than 160 acres at 6101 and 6201 Beulah Road, acquired by the airport commission in 2022, along with a 53-acre parcel at 5900 La France Road purchased in 1994. Zoned for light and general industrial use, the property has been marketed as a strategic development opportunity given its proximity to airport infrastructure and Interstate 295.
Originally seeking $320,000 for preliminary due diligence, the EDA received the full $1 million award after VEDP requested an expanded scope of work. The investment is expected to advance the site from a Tier 2 to Tier 3 designation under the Business Ready Sites framework, with Tier 5 representing the highest level of readiness.
“We see this as a tremendous opportunity to partner with the airport to market these sites more effectively,” said Jason Smith, business manager with the Henrico EDA. “When you combine this property with an additional 70-acre site on the airport’s east side, it creates a highly attractive offering for aviation and aerospace suppliers.”
EDA Executive Director Cari Tretina said the funding will allow Henrico County to strategically leverage the airport’s continued growth.
“This grant gives us a unique opportunity to position greenfield-adjacent properties to support both the airport’s long-term vision and Henrico County’s economic development goals,” Tretina said. “RIC has seen consistent year-over-year growth, and this investment allows us to maximize that momentum.”
Tretina added that Henrico County is also pursuing funding through the Central Virginia Transportation Authority for a road project that would improve access and visibility for the Beulah Road site.
Two-Phase Development Readiness Plan
Work at the site would be conducted in two phases and include:
- Boundary and topographical surveys
- Environmental and cultural resource assessments
- Wetlands delineation and mitigation planning
- Traffic, utility, and geotechnical studies
The first phase is expected to take approximately six months and will help determine the scope of additional remediation or infrastructure work needed in Phase Two. Depending on remaining funds and future grant opportunities, the site could potentially advance to Tier 4 readiness.
Under the proposed agreement, EDA staff would be granted access to the property to perform the work at no cost to the airport commission.
Long-Term Vision for Aerospace Development
Airport officials said ownership of the Beulah Road property would remain with the Capital Region Airport Commission, which intends to lease the site to a future developer.
“Given the site’s proximity to our runways and taxiways, we believe it is ideally suited for aerospace or aero-industrial uses,” said Troy Bell, spokesperson for Richmond International Airport.
Located along the airport’s southeastern boundary, the site connects directly to Interstate 295 and sits just north of the rail corridor running along the airport’s southern edge—making it a highly competitive logistics and industrial location.
The Capital Region Airport Commission is scheduled to consider the proposed agreement at its February 24 meeting, following the cancellation of its January meeting due to a winter storm.
