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List of incentives available in this location for quick easy reference below.

Incentives

Table key

• Incentive offered
• Incentive not offered
• Did not submit information

Cash grants/incentivesMore [+]Less [-]
The Governor’s Opportunity Fund (GOF) is a discretionary cash grant made to a locality on behalf of a company, typically for site development. The GOF requires 100% match from the locality. The Virginia Enterprise Zone Program assists with business development and expansion in specially targeted areas throughout Virginia. The program consists of two grants; the Job Creation Grant and the Real Property Investment Grant. The Virginia Investment Partnership Act provides for discretionary cash grants available for qualifying manufacturers and service companies meeting investment and employment thresholds.
Tax exemptionsMore [+]Less [-]
Intangible Personal Property Tax – Intangible personal property are not taxed at the state or local level Major Business Facility Job Tax Credit - A credit program in which a company can earn a credit of $1,000 per job over a 25 to 50 job threshold (varies by locality); taken in equal instalments over a two-year period (i.e. $500 per job per year). Machinery and Tools Tax – Machinery and tools used in manufacturing and selected other businesses are segregated as a separate class of tangible personal property and is taxed at a special, generally lower, machinery and tools tax rate by the locality. Sales and use tax –Virginia's sales and use tax exemptions apply to manufacturers and other numerous businesses.
Property assistance / other fiscal incentiveMore [+]Less [-]
Virginia has one of the country’s most technically advanced, on-line site selection search tool—VirginiaScan. VirginiaScan allows searching a database of more than 1,800 qualified sites and buildings across Virginia. In addition, VirginiaScan enables searches for the ideal business location using Virginia workforce statistics, existing business data and a host of other information that is driving today’s business site-selection process. Economic Development Access Program – A program in which a locality can apply to the Virginia Department of Transportation (VDOT) for transportation infrastructure funding. The locality can receive a maximum of $500,000 unmatched funds, plus an additional $150,000 available with a match of $150,000 by the locality (potentially $800,000). Rail Access Program – A program in which a locality can apply to the Virginia Department of Transportation (VDOT) for transportation infrastructure funding. The locality can receive a maximum of $300,000 unmatched funds, plus an additional $150,000 available with a match of $150,000 by the locality (potentially $600,000).
Training and labor market assistanceMore [+]Less [-]
The Virginia Jobs Investment Program (VJIP) is a training assistance program in which a company receives cash reimbursements, free recruiting and training services for jobs created. Workforce training assistance in Virginia is provided through the Virginia Department of Business Assistance’s Virginia Jobs Investment Program (VJIP).
Loan guarantees, cheap loans or financeMore [+]Less [-]
Companies seeking to finance new manufacturing plants or improvements to existing manufacturing plants in Virginia can obtain long-term financing at favorable interest rates through the use of industrial development bonds (IDBs). An IDB is a form of tax-exempt municipal bond issued by a state or local government entity to finance the acquisition, construction or equipping of a facility. The Virginia Small Business Finance Authority can assist with business financing.
Exemptions from regulations
Target sectorsMore [+]Less [-]
Advanced Manufacturing Information Technology Energy
Sectors specific incentivesMore [+]Less [-]
Incentives vary from sales tax exemptions to performance grants based upon employment and investment.  Manufacturers and Information Technology companies receive numerous sales tax exemptions on the purchase of equipment and inventory.  Virginia has also adopted numerous incentives for the energy sector including incentives for construction of renewable generation facilities, Virginia Renewable Energy Credits and Offshore Renewable Energy Credits.

Sponsorship

If you are the authorised promotions agency for Virginia and would like to have your location highlighted on fDi Atlas, you can contact our sales team on + 44 (0) 207 775 6667 or contact us here.