Virginia Enterprise Zone Grant Year 2024 Annual Report
Summary
Virginia Enterprise Zone Grant Year 2024 Annual Report on the Real Property Investment Grant (RPIG) and the Job Creation Grant (JCG). It states that Virginia comprises 45 enterprise zones and that the program began in 1982 as a tax credit initiative, before the Enterprise Zone Grant Act of 2005 replaced the credits with the two grants. The Grant Year 2024 summary table lists total funds available of $15,750,000, funds disbursed of $13,688,642.60 (RPIG $11,868,440.60 and JCG $1,820,202.00) and investment leveraged of $231,243,950.39. The report states that RPIG requests were fully awarded without proration. Appendices cover local incentives, incentive utilization and High Unemployment Areas, and Grant Year 2025 applications are due April 1, 2026.
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VIRGINIA
ENTERPRISE
ZONE
GRANT YEAR 2024
ANNUAL REPORT
TABLE OF CONTENTS
3 VEZ Program Overview 16 Appendix A | Zone Highlights
4 Program Summary 21 Appendix B | Enterprise Zones
5 Real Property Investment Grant (RPIG) 22 Appendix C | Local Incentives
6 Job Creation Grant (JCG) 29 Appendix D | Incentive Utilization
7 Grant Year 2024 RPIG Overview 32 Appendix E | High Unemployment Areas (HUAs)
10 GY2024 RPIG by Property End Use
11 GY2024 RPIG by Project Type
12 GY2024 RPIG by Qualified Zone Investors
13 GY2024 Job Creation Overview
14 GY2024 JCG by Wage Rates
15 GY2024 JCG by Sector
Press Glass, the largest independent glass fabricator in Europe, established a manufacturing facility in Henry County’s Enterprise Zone in 2018. Since its initial investment, the company has
completed multiple expansions of the facility and has expanded its workforce by creating hundreds of new jobs. In Grant Year 2024 the company received its fifth year of JCG funds and has
created over 295 new jobs and received $178,503 in JCG funds in this grant year alone.
VEZ Program Overview
The Virginia Enterprise Zone (VEZ) initiative is a collaboration between the Commonwealth of Virginia and local governments, aimed at
boosting job creation and investment in real property. This program seeks to stimulate economic growth and rejuvenate economically
challenged areas at both local and regional levels.
Originating in 1982, VEZ began as a tax credit initiative. Subsequently, the Enterprise Zone Grant Act of 2005 replaced the prior tax credit
benefits with two new grants: the Real Property Investment Grant (RPIG) and the Job Creation Grant (JCG). These grants are tied to
performance, necessitating companies to meet specific job creation criteria and/or complete real property investments before becoming
eligible for grant consideration.
The 2005 act also permitted prequalified businesses to maintain access to the former general income and investment tax credit incentives.
The tax credit program reached its official conclusion in 2019.
Virginia comprises 45 enterprise zones, covering approximately 245 square miles. These zones are located within 21 cities, 34 counties
and 12 towns. In the 2024 Grant Year (GY2024), 18 out of the 45 zones have been categorized as joint zones, which includes zones
designated jointly by counties and towns before 2005. Additionally, 12 localities have two enterprise zone designations.
3 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Grant Year 2024 Program Summary
Table 1 | Grant Year 2024 Summary
45
Total Funds Available: $15,750,000
Type RPIG JCG TOTAL enterprise
zones
Fund Requests $11,868,440.60 $1,820,202.00 $13,688,642.60
Funds Disbursed $11,868,440.60 $1,820,202.00 $13,688,642.60
Number of Grants Issued
Number of Entities
117
114
36
35
153
149
21cities
Proration (RPIG only) - N/A -
34
Jobs Created N/A 2957.82 2957.82
Investment Leveraged $231,243,950.39 N/A $231,243,950.39 counties
Average QRPI per RPIG Grant $1,976,444.02 N/A $1,976,444.02
12towns
4 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Real Property Investment Grant (RPIG)
The Real Property Investment Grant eligibility. Grant allotments for all property requirements for grant eligibility. If the
(RPIG) offers financial assistance to types are calculated based on 20% of the solar panels are the only investment made
offset the “hard” construction expenses investment that surpasses the $100,000 to the building or facility, the grant amount
associated with qualified real property and $500,000 thresholds for rehabilitation is 20% of the amount made in solar
investments (QRPI) in enterprise zones. and new construction. installation.
These investments pertain to properties
under new construction, expansion, or In 2019, the program expanded to Allocation of enterprise zone grants
rehabilitation. For QRPI amounts under include solar projects. Zone investors may hinges on an annual appropriation by
$5 million, the program extends grants of receive a grant for the installation of solar the General Assembly. As per statute,
up to 20% (capped at $100,000 within five panels if the amount of solar investment funding priority is given to Job Creation
consecutive years) of the total QRPI within is at least $50,000. The grant amount is Grants (JCGs). After fully funding JCGs, any
a building or facility. If the QRPI reaches or up to 20% of the amount of total QRPI. remaining funds are distributed to RPIG,
exceeds $5 million, grants per building or New construction projects that include and the payment to each RPIG applicant
facility are attainable up to a maximum of solar must have a total investment that is proportional if grant applications exceed
$200,000 over five consecutive years. exceeds $450,000 in QRPI to qualify. the remaining funds. In GY2024, RPIG
In cases of rehabilitation and expansion Rehabilitation and expansion projects that requests were fully awarded without
projects, a minimum QRPI of $100,000 include solar panels qualify at the lower proration. Table 2 provides a visual
is necessary to qualify for RPIG. For threshold of $50,000 in QRPI. Solar-only representation of the calculations for grant
new construction initiatives, a minimum projects ranging from $50,000 to $100,000 requests under RPIG.
investment of $500,000 is required for are exempt from minimum threshold
Table 2 | Example-RPIG Threshold and Award
Type Investment Threshold Grant-Eligible Funds Grant Rate Grant Request Pro-ration Grant Award
New Construction $1,000,000 $500,000 $500,000 20% $100,000 $0 $100,000
Rehab/Expansion $500,000 $100,000 $400,000 20% $80,000 $0 $80,000
New Construction
$1,000,000 $450,000 $550,000 20% $100,000 $0 $100,000
with Solar
Rehab/Expansion
$100,000 $50,000 $50,000 20% $10,000 $0 $10,000
with Solar
Solar-only $75,000 $0 $75,000 20% $15,000 $0 $15,000
5 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Job Creation Grant (JCG)
The Job Creation Grant (JCG) offers Eligible businesses meeting the criteria equal to or exceed 150% of the statewide
financial incentives to encourage the have the potential to receive up to $800 average unemployment rate. For a
establishment of full-time employment for each net new, permanent, full-time comprehensive listing of HUA zones for
opportunities with compensation position beyond a baseline threshold GY2024, refer to Appendix E. Certified
exceeding the minimum wage within of four positions, spanning a maximum business entities meeting regulations
enterprise zones. In 2021, the Virginia span of five years. Qualified businesses set forth by the director of the Virginia
General Assembly enacted legislation can secure grants for up to 350 positions Department of Small Business and
modifying the interpretation of “minimum created annually, for a cumulative Supplier Diversity under § 2.2-1606,
wage” within the VEZ program. As maximum of five years. It is important to subdivision 8, of the Code of Virginia are
outlined in Virginia Code 13VAC5-112- note that sectors such as retail, food and qualified to apply the reduced wage rate
10, “minimum wage” signifies either beverage, personal services and nonprofit threshold (125% of minimum wage) in
the federal or Virginia minimum wage, positions are ineligible for JCG benefits. fulfilling requirements for the $500 grant.
whichever is higher, determined for the
ongoing calendar year by the department In regions designated as High In all other enterprise zones, qualifying
as of Dec. 1 of the preceding year. Unemployment Areas (HUAs), qualifying positions yielding compensation of at least
This determination remains effective businesses can acquire JCGs amounting 150% of the minimum wage are eligible
throughout the year, unaffected by up to $500 for each job established, for up to $500 per new position created,
fluctuations in the federal or state adhering to program prerequisites, with while positions offering at least 175% of the
minimum wage during that period. For a lowered wage threshold set at 125% of minimum wage qualify for up to $800 per
GY2024, the applicable state minimum the minimum wage. HUAs encompass new position created, as demonstrated in
wage was $12 per hour. localities where unemployment rates are Table 3.
Table 3 | JCG Grant Wage Thresholds and Awards
Eligibility % of Minimum Wage Hourly Pay Minimum Grant Award per Job*
HUAs / SWaM 125% $15.00 $500
All Other EZs 150% $18.00 $500
Max 175% $21.00 $800
*Jobs above the four-job minimum threshold meeting all other program requirements
6 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Grant Year 2024 RPIG Overview
In total, 117 RPIG Figure 1 | Funding and Proration GY2024 | Surplus/Shortfall
grants were issued to
112 distinct investors $6,000,000
and businesses. These
investors and businesses $5,000,000
utilized $231,243,950.39
in qualified property
$4,000,000
investments resulting in
RPIGs, with an average
QRPI per grant amounting $3,000,000
to $1,976,444.02.
$2,000,000
Figure 1 and Table 4 depict
the contrasts between $1,000,000
allocations and requests
for VEZ grants over the last $0.00
five years. In the past, the
program faced challenges
-$1,000,000
in fully funding grant
application. However, since
2021 the program funding -$2,000,000
and number of grant
requests has allowed for -$3,000,000
the full financing of JCG
and RPIG grants. -$4,000,000
-$5,000,000
2020 2021 2022 2023 2024
Surplus/Shortfall
-$1,647,653.00 $1,167,191.00 $5,097,019.80 $1,033,050.09 $2,061,357.40
7 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Grant Year 2024 RPIG Overview
Table 4 | RPIG Proration by Grant Year
Year 2020 2021 2022 2023 2024
Surplus/Shortfall -$1,647,653.00 $1,167,191.00 $5,097,019.80 $1,033,050.09 $2,061,357.40
Appropriation $14,500,000.00 $14,750,000.00 $16,250,000.00 $16,250,000.00 $15,750,000.00
Grant Requests $16,147,653.00 $13,582,809.00 $11,152,980.20 $15,216,949.91 $13,688,642.60
RPIG Requests $14,217,222.00 $11,089,415.74 $9,357,734.20 $13,187,294.91 $11,868,440.60
Proration 88% 0% 0% 0% 0%
Since the VEZ grant programs were created in 2005, most funds have been utilized for RPIG awards; however, beginning in GY2010 JCG
applications were given funding priority. JCG awards are funded at 100%, and then the remaining funds are prorated, if necessary, among
qualifying RPIG applicants. The demand for RPIG awards has consistently outweighed the demand for JCGs over the last decade.
In GY2024, the ratio of RPIG to JCG requests was $6.52 in RPIG requests for every $1 in JCG requests.
8 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Grant Year 2024 RPIG Overview
RPIGs are granted to zone investors based on the amount of Figure 2 | Grants by Investment Amount
qualified real property investments. During GY2024, QRPIs
ranged from $184,498 to $11,455,737. Figure 2 shows an 1%
illustration of the zone investments ranges and the percentage of 12%
grant applications received in GY2024 within those ranges. 19%
In GY2024 QRPI investments ranging from $500,0000-$499,999
comprised 29% of the grant applications, followed by investments
ranging from $1M - $2M making up 23% of applications.
Investments in the $100,000-$499,999 bracket range followed
closely, comprising 19% of all grant applications. Collectively, these 16%
applications (QRPI of $2M or less per investor) contributed around
29% of the total QRPI for GY2024 applications. Investments
ranging from $2M-$5M comprised 16% of the RPIG applications,
comparatively applications in the $5M-$10M constituted 12% of
the total applications. The largest QRPI investment range, $10M
and above, has the least amount of RPIG applications at only 1%,
which is to be expected based on previous trends.
29%
The total QRPI for GY2024 was $231,243,950.
23%
$100,000-499,999 (22) $5 million -10 million (14)
$500,00-999,999 (34) $10 million + (1)
$1 million - 2 million (27)
$2 million -5 million (19) TOTAL: 117
9 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GY2024 RPIG by Property End Use
RPIG funding is exclusively accessible for investments into Figure 3 | GY2024 RPIG Application by
commercial, industrial, or mixed-use properties, where a
minimum of 30% of the usable floor space is allocated to Property End Use
commercial, office or industrial functions.
14%
Both retail and office properties fall under the category of
commercial properties in the context of RPIG. As highlighted
in Figure 3, commercial projects in GY2024 constituted the
largest segment, accounting for 77% of the RPIG applications.
The remaining 23% of applications were distributed among
industrial projects, accounting for 9% of applications and mixed-
use properties accounting for the remaining 14% of applications. 9%
In GY2024, 90 RPIGs were commercial use, followed by 17 for
mixed-use properties and 10 for industrial use developments.
77%
Commercial (90)
Industrial (10)
Mixed-use (17)
10 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GY2024 RPIG by Project Type
Property enhancements that are eligible for RPIGs encompass Figure 4 | GY2024 RPIG Applications by
new construction, rehabilitation of existing structures, expansion
of current buildings or facilities, and solar projects. Figure 4 Project Type
illustrates the distribution of RPIG awards based on the type of 2%
12%
property improvements made in GY2024. Projects in which solar
was the only investment to the building/facility were introduced
as eligible in GY2020, accompanied by a new and lower
threshold for projects involving solar installations. 5%
In GY2024, rehabilitation of existing buildings/facilities accounted
for the majority of grant applications, with 61% of projects in this
category, followed by 25% of applications from new construction
projects and 12% of applications from expansion of an existing 23%
building/facility. There were two new construction projects that
included solar panels in GY2024. The consistently high number 25%
of rehabilitation and expansion projects each year highlights the
program’s success in achieving its goal of stimulating economic
development through revitalization.
69%
61%
Expansion of an existing building/facility (14)
New Construction (29)
Rehabilitation of existing building/facility (72)
New Construction with Solar (2)
TOTAL: 117
11 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GY2024 RPIG by Qualified Zone Investors
Qualified Zone Investors include property owners (occupant or Figure 5 | GY2024 Zone Investor
non-occupant), owners of space within a larger building or facility
(condominium), tenants leasing space and capitalizing any
improvements made to that space and developers capitalizing 13%
their investment before the property is sold. As Figure 5 illustrates,
non-occupant owners of buildings/facilities are the most
common type of qualified zone investor in GY2024, followed by
owner-occupant as the second highest type of qualified investor.
In GY2024, qualified investors that own space in a qualified
investors that are tenants comprised 13% of all RPIG applications.
VEZ requires that investors capitalize and/or expense their
investment to qualify for RPIGs. The program is not open to
developers who will not be expensing and/or capitalizing
hard cost real property investments, which is one reason why
the percentage of developers making up total qualified zone
investors tends to be lower.
51%
36%
Owns building - non-occupant (60)
Owns building - occupant (42)
Tenant in building (15)
TOTAL: 117
12 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GY2024 Job Creation Overview
DHCD awarded a total of $1,820,202 in JCGs to 36 businesses in GY2024, as Table 5 illustrates. JCG requests represented 13% of funds
requested and awarded.
One company applied for the maximum number of positions (350) eligible for awards under the JCG program in 2024. In addition, three
other companies applied for between 200-349 jobs. Those top job creators were located throughout Virginia in the Counties of Henry and
Halifax and City of Newport News.
Table 5 | Job Creation Grant Summary
Type 2020 2021 2022 2023 2024
Qualified Businesses 42 50 38 40 36
Jobs Created (PFTPs) 825 1,362 825 1,162 1,140
Total Awards $1,930,431 $2,493,393 $1,795,246 $2,029,655 $1,820,202
Award per Job Created $2,339.75 $1,830.69 $2,176.06 $1,746.69 $1,596.67
Average New Jobs per Firm 20 27 22 29 32
Total Qualified Jobs 2,740 4,115 2,745 3,274 2,958
Average Qualified Jobs per Firm 65 82 72 82 82
13 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GY2024 JCG by Wage Rates
Job Creation Grant (JCG) award amounts are determined based locality submitted an application. Overall, four companies from
on wage rates for newly created positions within eligible firms. two localities received grants for jobs meeting the 125% minimum
In HUAs, businesses creating new positions with wages between wage threshold. These jobs represented about 15% (501 jobs) of
125%-149% of the minimum wage are eligible for a grant award of all jobs from companies that applied, reflecting a 16% increase
up to $500 per position. For businesses paying employees at 175% in jobs created from GY2023. Qualifying businesses in HUAs
or above the minimum wage, the grant amount is up to $800 per received a $500 grant per eligible position that exceeded 125% of
eligible position. the minimum wage.
For areas outside of HUAs, eligible businesses must pay their
employees at least 150% of the minimum wage to qualify for a Figure 6 | JCG Wage Rates
grant award. Higher grant amounts are available for positions
paid at over 175% of the minimum wage. Certified business firms
15%
throughout Virginia that adhere to regulations stipulated by
the director of the Virginia Department of Small Business and
Supplier Diversity, per subdivision 8 of § 2.2-1606 of the Code
of Virginia, can apply the reduced wage rate threshold (125% of
minimum wage) to meet the criteria for the $500 grant amount.
During the 2024 grant cycle, the Job Creation Grant (JCG)
minimum wage threholds were adjusted to align with the
increased minimum wage rates. To qualify for a grant, applicant 23%
companies must offer jobs that pay at least 150% of the minimum
wage. As a result, approximately 23% (767 jobs) of all jobs met or
exceeded this threshold, earning a $500 grant award per eligible
position. Consistent with previous years, the majority of jobs 62%
awarded a grant are those paying at least 175% of the minimum
wage. In GY2024, 62% (2,116 jobs) of total jobs surpassed the 175%
threshold, leading to an $800 grant award per eligible position.
Among the 67 designated localities (excluding towns within 175% Wage Threshold (2116)
these counties), six were classified as High Unemployment Areas
(HUAs) for GY2024. Companies that previously applied for a 150% Wage Threshold (767)
JCG within a designated HUA locality remain eligible to apply at
125% of the minimum wage during their 5-year JCG grant cycle.
In GY2024, one company from a previously HUA-designated 125% Wage Threshold (501) TOTAL: 3384
14 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GY2024 JCG by Sector
The industry sector of each entity receiving JCGs is tracked largest job grantees with a combined 19% of qualified firms
using the North American Industry Classification System (NAICS) receiving grants. The remaining 20% of grantees represented the
codes. As with previous grant cycles, the largest share of following industries: Transportation and Warehousing (NAICS
qualified firms in GY2024 were manufacturers (NAICS 300s), 484), Wholesale Trade (NAICS 423-424) and Administration and
representing 61% of all grantees. Construction (NAICS 236-238) Support along with Waste Management and Remediation (NAICS
and Professional/Scientific Services (NAICS 541) were the second 561).
Figure 7 | GY2024 Job Creation by Sector
Construction (11%)
Construction (4)
Manufacturing (22)
Other (6%)
Professional/Scientific Services (3) Admin and Support, Waste (2%)
Transportation and Warehousing (2)
Wholesale Trade (6%)
Wholesale Trade (2)
Transportation and
Admin and Support, Waste (1) Warehousing (6%)
Manufacturing, 24, 60%
Manufacturing (61%)
Other
Professional/Scientific (8%)
TOTAL: 36
All information in this report is sourced from the Enterprise Zone Administration Database and stems from data generated by Local Zone Administrators (LZAs), businesses
and investors via incentive applications. The following sections of the annual report consist of a range of appendices that outline the contributions of our local partners to
the program’s achievements.
15 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix A | Zone Highlights
Accomack County – the public. The company Lawrenceville. The company
Northampton County (#26) invested $522,184 and invested $854,320 and
Lemontree Enterprises, LLC received $84,436 in RPIG received $100,000 in RPIG
of 301 Mason Avenue, Cape funds in GY2024. funds.
Charles, received $100,000 in
real property improvement Bedford (Town) (#12) Danville (City) (#1)
grant funds to improve the Minuto Holdings Group, River City Fitness received
Lemontree Gallery. Ms. LLC rehabilitated what was funding for a commercial
Clelia Sheppard, owner, previously a cinderblock rehabilitation of a 1920’s
said, “Receiving this grant structure that was originally brick and concrete building
has been an incredible help a service station from in downtown Danville to be
in the aftermath of such a the 1950’s. The company fitted for a CrossFit gym. The
difficult and challenging completed a renovation of company received $36,893 in
project…The EZ helped the interior of the building, RPIG funds for an investment
with that and in general to and added a 1000 square of $284,468. One of the
transform what was once foot addition to the left side owners stated, “Thanks to
an eyesore into a beautiful of the building and another the Enterprise Zone grant,
centerpiece in the town of 400 square foot addition our business was able to
Cape Charles.” to the right side of the move into an expanded
building. With an investment location despite lots of
Alleghany County – Town of of $381,874 the company work needing to be done.
Convington – Town of Clifton received $54,374 in RPIG From entirely new concrete
Forge (#53) funds in GY2024. floors to building beautiful
JPB Ventures, LLC completed bathrooms with showers,
an expansion of the Brunswick County – the grant was a huge help in
Covington Car Company Mecklenburg County (#32) easing the financial burden
Bookkeeper.com has been a longstanding Waynesboro business offering facility on Valley Ridge Road In GY2024 Peebles Apts, of renovating an old building.
accounting, bookkeeping, payroll, bill pay, and tax planning and preparation
services for small businesses. Owner David Elmore is a huge supporter of
by the construction of an LLC completed renovation We are super grateful for the
downtown, and when his current building was bursting at the seams, he automobile service building of a prior retail department grant and we’re enjoying our
decided to construct a new building on the lot next door. Delayed slightly
by the pandemic, the striking glass and metal building opened in late to repair/prepare vehicles store building for residential new expanded location!”
2024. In addition to the beautiful architecture that adds a new dimension to
downtown, the building hosts Mission Coffee, a new addition to the coffee
for sale and to be open to and commercial tenants in
scene in Waynesboro that has plenty of space for a quiet moment or an
informal meeting. Photo of the lobby of the new building.
16 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix A | Zone Highlights
Emporia (City) – Greensville Hampton (City) (#8) (#35) specific to its tenant space
County (#43) Cedar-Coliseum FF, LLC Henry County – Martinsville for a total of over $1 million
Quik Fuel received RPIG funds salvaged and restored (City) (#54) in qualified investments. The
in GY2024 for the construction unoccupied community grocery Press Glass received its fifth year company received $100,000 in
of a car wash and self-service center space - Farm Fresh. of JCG funds in GY2024. The RPIG funds.
laundromat in the City of The $1.2M investment was company has created over 295 In the Lancaster County portion
Emporia. The company had a completed to open OneLife new jobs and received $178,503 of the zone, construction of a
qualifying investment over $1.27 Fitness. This rehabilitation in JCG funds in this grant year new office building and shop
million and received $100,000 project brings the first OneLife alone. In GY2023, the company at the Ransone Nursery and
in RPIG funds. In addition, fitness center to the Coliseum received over $200,000 in Maintenance, Inc. facility in
the company completed Central corridor. The company JCG funds and received over Weems was completed. The
construction of a new gas received $100,000 in RPIG funds. $172,000 in the previous year. company invested $897,714.50
station and convenience store The company has continued to and received a total of $100,000
in the adjacent parcel. Quik Henrico County – Richmond maintain and create new jobs in RPIG funds in GY2024.
Fuel received an additional (City) (#28) and has also previously received
$100,000 in RPIG funds for the In the Henrico County portion RPIG funds for expanding their Lynchburg (City) (#2) (#46)
investment of over $1.13 million in of the zone Metro Treatment facility. West on Main, LLC completed
this project. About 10-15 full and of Virginia, L.P. completed the rehabilitation of a mixed-
part-time jobs were created. construction of a new building to Lancaster County – use property with residential
operate an out-patient medical Northumberland County rental units on the top floor
Halifax County – South Boston clinic for the treatment of Opioid – Westmoreland County and commercial space on the
(Town) (#15) Use Disorders. The company -Richmond County – ground level. The building was
Hitachi Energy USA, Inc. in South invested over $2.2 million and Kilmarnock (Town) – Warsaw
formerly a Coca-Cola bottling
(Town) (#50)
Boston received $131,997 in Job received $100,000 in RPIG funds. plant and warehouse and
In the Westmoreland County
Creation funds for creating 200 In the Richmond portion of the underwent a full renovation.
portion of the zone DDG CB3A
jobs in GY2024. The company zone 322 W. Brookland Park The company invested over
LLC completed new construction
announced a $26 million, 100- Boulevard received an RPIG of $2.19 million into the project and
of a mixed-use building in
job expansion in July 2024. $100,000 for a new construction received $100,000 in RPIG funds
Colonial Beach. The property, a
The South Boston facility project with a total Qualified in GY2024.
vacant gravel parking lot prior
manufactures transformers Real Property Investment
to construction, was completed
and further expansion of the (QRPI) of $1,279,441. The project Martinsville (City) – Henry
with over $4 million in qualified County (#36)
facility will allow the company involved the demolition of
investments. The company JRS Realty Partners, LLC
to expand their capacity for the existing structure and the
received $100,000 in RPIG funds. completed an historic
production and bring new jobs construction of a new two-story
Drift Muse LLC is the commercial preservation project and
to the area. mixed-use building. The ground
tenant of the building completed rehabilitation of a 25,000 square
floor features commercial
by DDG CB3A and operates foot former grocery store into 25
space, while the second floor
as a restaurant. Drift Muse LLC apartments and 11 commercial
includes three residential
incurred construction costs spaces in GY2024 in the City
apartments.
17 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix A | Zone Highlights
of Martinsville. The company and other events, as well as Norton (City) (#52) in construction of a stacking
invested over $2.56 million continuing to operate as a bed The Hampton Inn of Norton facility, Ten Oaks LLC received a
into the project and received and breakfast. began renovations in 2023, Job Creation Grant in GY24. The
$100,000 in RPIG funds. which were completed in company created 27 jobs and
In the Henry County portion Norfolk (City) (#7) 2024 for a total investment, received grant funds totaling
of the zone, Monogram Food Young Vets Annex, LLC is a including real estate, which $15,238. Ten Oaks Flooring is a
Solutions LLC received its third veteran-owned business that exceeded $5 million. The owner leader in the commercial and
year of JCG funds. The company operates The Annex, a creative received $100,000 in RPIG residential flooring sector known
has created over 289 jobs. In community space in Norfolk funds for the rehabilitation. for their patented six-sided
GY2024 alone the company supporting local entrepreneurs, The project also created seal, which is revolutionizing
received $156,378 in addition artists, and small businesses approximately 20 new jobs to the flooring market. They have
to the funds received in the through events, pop-ups, and the area. “We are extremely leased additional warehouse
previous two years. collaborative programming. proud of this important project space to bring their Research
They recently invested $888,599 that redeveloped a vacant and Development sector closer
Newport News (City) (#3) (#31) to expand their operation in the downtown property and we to the main facility.
Built in 1896, the Historic City of Norfolk, which secured believe that the new hotel is
Boxwood Inn was renovated $100,000 in funding through the poised to become the region’s Petersburg (City) (#10)
and received an RPIG for RPIG. The company completely premier destination for travelers Cathelle LLC received $90,412
an investment of nearly renovated its facility at 2500 seeking both comfort and in RPIG funds for renovation
$455,000. The Inn has been Church Street to transform it adventure”, said Norton City of a mixed-use building in
the centerpiece of the Lee into a vibrant, multi-use space Manager Jeffrey Shupe. The the historic Old Towne district
Hall area for over a century. designed to foster innovation, Hampton Inn features 95 of Petersburg. The original
Originally known as the Simon creativity, and community tastefully designed guest rooms structure was built over 150
Reid Curtis House, it served engagement. In addition to and suites, offering both comfort years ago then underwent
multiple purposes. In 2022, Ricky state-level support, Young Vets and style. Guests will be able renovation in 1909, adding
and Gina Newton purchased Annex also worked closely with to enjoy panoramic views of a third floor. The renovation
the property, and continued to the City’s Small Business team to the surrounding natural beauty included private investment by
operate the facility as is. In 2024, secure a Façade Improvement from their rooms and the hotel’s the company of $552,061.
they began a total renovation Grant, enhancing the building’s public spaces. A fitness center,
starting from the ground up to exterior and further contributing pool, breakfast area, and lobby Pittsylvania County – Danville
help revitalize the building and to the revitalization of the seating area will ensure guests (City) (#57)
built an addition expanding the Church Street corridor. Their have access to everything they In Pittsylvania County Intertape
building to over 10,400 square work continues to bring need during their stay. Polymer completed an
feet. The Newtons have kept this energy and opportunity to expansion that created 43 new
historical home true to its roots the community by providing a Patrick County – Stuart (Town) jobs, for which the company
with both interior and exterior platform for local talent and (#22) received over $39,000 in JCG
renovations and have created emerging businesses to grow After receiving RPIG funds in funds. Kevin O’Steen, CPA, Vice
the perfect environment for and connect. the previous grant year for an President, stated, “Through
weddings, corporate meetings, investment of over $1.68 million 2024, Intertape (IPG) expanded
18 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix A | Zone Highlights
its operations to increase Prince Edward County – Virginia Investment constructed block “Brandon Surgical Arts.”
production capacity for its Charlotte County – Lunenburg a 20,000 SF truck terminal with This redevelopment includes
e-retail packaging, coatings, County (#48) repair shop for Watsontown the restoration of an iconic
and films. As part of this project, Southside Holdings, LLC Trucking Company. This hardware store into the Roanoke
we added 30,000 square feet completed rehabilitation of development consisted of office location for Donnie D’s Bagles,
to our facility and made a warehouse space to a finished space, fuel island, truck repair River Ridge Dermatology and
series of strategic investments retail space. This included garage, and tractor and trailer Roanoke Oral Surgery. The
in production, operations, and floors, ceiling, walls, decorative parking. With an investment of group utilized various Enterprise
overall capacity. This expansion coverings for structural over $5.1 million, the company Zone incentives, including
supported the creation of elements, a new display space received $200,000 in RPIG funds Real Property Improvement
43 new jobs through 2024, in the street-facing windows, as in GY2024. Grant and local façade grants
reinforcing our commitment well as a number of plumbing and permit fees rebate. The
to local economic growth and and electrical replacements Richmond (City) (#19) company invested over $3.77
long-term employment in the and upgrades for safety and 604 Hull Street was originally million in the properties and
area.” customer satisfaction. The constructed as a Seaboard Air received $200,000 in RPIG
In Danville’s Zone 57, Litehouse building is a furniture showroom Line Railroad Freight Depot. funds. Moving forward, the
Foods, a food manufacturer for Green Front Furniture that is The historic structure was later development will be eligible
that offers a variety of salad owned by Southside Holdings, transformed into a showroom for more Real Property
dressing flavors along with LLC. The company invested for Txtur, a Roanoke-based Improvement funds.
other dips, has made real $786,415 and received $100,000 furniture manufacturer. At the
estate improvements totaling in RPIG funds in GY2024. front of the building, Stock Scott County (#23)
$6,433,200 since inception. The Café and Bar now serves as a VFP, a producer of custom-
company is continuously adding Prince George County (#16) welcoming food and beverage designed enclosures used to
jobs and received their fifth year NVR Inc. received the Job venue. The project received protect critical infrastructure
of JCG funds. Creation Grant in 2024 in the a Real Property Investment for telecommunications, public
amount of $16,000. Since their Grant of $100,000, based safety radio, data centers, and
Portsmouth (City) (#4) (#20) inception in 2019, they have on Qualified Real Property utility projects, received JCG
GTT Commercial Trucking created 661 jobs, and received Investments totaling $1,501,337. funds for a third year in a row
Tires (Fu Lu Shou Group, LLC) a total grant disbursement of In addition to the RPIG, 604 in GY2024. The company has
opened in the Port Norfolk area $629,040 from the state. Hull Street benefitted from the created 185 new jobs, receiving
of Portsmouth in 2024, investing Local Enterprise Zone program a total of $98,310 in this grant
$666,386 and creating five new Pulaski County – Radford (City) with a $5,000 machinery and year. VFP announced another
positions. The project received (#25) equipment rebate. expansion of their facility in the
$33,277.20 in RPIG funding. Watsontown Trucking Company Fall of 2024, which will include
received JCG funds for a third Roanoke (City) (#5) real property investments and
year in GY2024. The company Over a two-year span, new jobs.
has created 135 new jobs and Brandon Office Partners LLC
received a total of $104,783 in redeveloped an entire block on
JCG funds in GY2024. Patton Brandon Ave and renamed the
19 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix A | Zone Highlights
Smyth County (#51) that included electrical, company has created 64 jobs new restaurant downtown,
Dragon’s Edge Car Wash plumbing, fire suppression and and received $27,076 in JCG Paladin Downtown, at 31 E.
Dragon’s Edge Express Wash, HVAC updates, drywall and funds in GY2024. Piccadilly St. They received the
modern car washes in Marion, plaster, painting and finish maximum eligible amounts
VA, received RPIG funds work. A new parking lot was Waynesboro (#14) from both the local Exterior
totaling $200,00 in GY2024. also laid including excavation Bookkeeper.com has been Improvement Grant Program
The car washes offer a high- and grading in preparation a longstanding Waynesboro (EIGP - $20,000) and the state
quality wash experience with for paving. With a qualified business offering accounting, level Real Property Investment
automated systems and free investment of $977,093, the bookkeeping, payroll, bill Grant (RPIG - $100,000) for
amenities. This project also company received $100,000 in pay, and tax planning and an investment over $995,600.
removed a previously derelict RPIG funds in GY2024. preparation services for small Prior to redevelopment, 31 E.
and vacant commercial building businesses. Owner David Piccadilly St. had been vacant
that has brought new energy to Washington County – Chilhowie Elmore is a huge supporter of for more than a decade after
that area of Marion. The owner (Town) – Glade Spring (Town) – downtown, and when his current previously operating as a dry
has also indicated the empty Smyth County (#51) building was bursting at the cleaner establishment. The
lot next to the car wash will The EO, an 87,000-square-foot seams, he decided to construct qualifying work transformed an
feature additional commercial Regional Workforce and Child a new building on the lot next unproductive, vacant downtown
development in the quick serve Development Hub, opened door. Delayed slightly by the property into a new bar/
industry. in the Town of Abingdon on pandemic, the striking glass and restaurant space, expanding the
October 21, 2024 after a lengthy metal building opened in late tax-generating footprint of the
Staunton (City) (#17) renovation of a former K Mart 2024. In addition to the beautiful downtown walking mall in the
Staunton Steam invested over building. The EO is a solution to architecture that adds a new process.
$5.67 million into a mixed- gaps in the regional economic dimension to downtown, the
use project that consists of 48 ecosystem in rural Southwest building hosts Mission Coffee, a Wythe County (#11)
apartments and commercial Virginia. It makes employment new addition to the coffee scene InSite Holdings LLC , a company
space. The company is currently in the labor force a feasible in Waynesboro that has plenty that develops and operates
renting to a parachute assembly choice for families and provides of space for a quiet moment industrial, office and retail
company, a furniture store, and talent development solutions or an informal meeting. The investment properties, received
a laundry company. Staunton for the emerging and adult company received $200,000 in $100,000 in RPIG funds in
Steam received $200,000 in workforce. The building was RPIG funds for an investment of GY2024. The company cleared
RPIG funds in GY2024 for this purchased and renovated by EO over $5.26 million in GY2024. the land and built a Starbucks
building rehabilitation project. Companies and is now held in restaurant with a drive-thru and
ownership by EO Holdings. The Winchester (City) (#21) interior seating and included an
Tazewell County (#44) company invested over $11.45 Paladin Downtown LLC, the investment of over $1.58 million.
Dragon Properties 16, LLC million and received $200,000 in development LLC of a Frederick
renovated former apartments RPIG funds in GY2024. County based restaurant
into a hotel on Main Street SIG Packaging LLC in the Smyth group, heavily utilized local
in Tazewell. The company County part of the zone received and State Enterprise Zone
completed a full renovation its fifth year of JCG funds. The incentives in 2024 to open a
20 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix B | Enterprise Zones
1 Danville 26 Accomack/Northampton 51 Smyth/Washington/Chilhowie/Glade Spring
2,46 Lynchburg 27 Carroll/Galax/Grayson 52 Norton/Wise
3,31 Newport News 28 City of Richmond/Henrico 53 Alleghany/Covington/Clifton Forge
4,20 Portsmouth 29 Bristol 55 Lunenburg/Kenbridge/Victoria
5 City of Roanoke 30 Page 57 Pittsylvania/Danville
6 Saltville/Smyth 32 Brunswick/Mecklenburg
7 Norfolk 36,54 Martinsville/Henry
8,35 Hampton 43 Emporia/Greensville
9 Hopewell 44 Tazewell
10 Petersburg 48 Charlotte/Lunenburg/Prince Edward
11 Wythe 49 Dickenson/Clintwood/Haysi
12 Bedford 50 Lancaster/Northumberland/Richmond/
14 Waynesboro Westmoreland/Kilmarnock/Warsaw
15 Halifax/South Boston
16 Prince George
17 Staunton
18 Isle of Wight/Southampton/
City of Franklin
19 City of Richmond
21 Winchester
22 Patrick/Stuart
23 Scott
24 Pittsylvania
25 Pulaski/ Radford
Enterprise Zone Designation Enterprise Zone Boundary Locality with Enterprise Zone
21 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Accomack County #26A Bedford (Town) #12 Carroll County #27A
• Expedited plans review for county • Real property improvement incentive • Building permit fee waiver
permits • Downtown property improvement • Local job creation credit program
• Marketing assistance incentive • Water and sewer connection fee waiver
• Rebate of County permit fees • Downtown façade and signage
• License fee rebate incentive Charlotte County #48A
• Landfill rebate fee • Equipment and jobs incentive • Accelerated permit processing
• Real Property Improvement Grant • Zoning fees waiver (Charlotte County and Town of
• Personal Property/Tools & Machinery • Sign fees waiver Keysville)
Grant • Business license fees waiver • Site purchase discount (Charlotte
• Property Acquisition Discount County and Town of Keysville)
• Bond conduit issuer fee exemption Bristol (City) #29 • Machinery and tools tax reinvestment
• New jobs incentive (Accomack County • Accelerated permit processing grant
Industrial Park) • Job training assistance • (Charlotte County & Town of
• Site acquisition cost discount • Design assistance Keysville)
(Accomack County Industrial Park) • Façade improvement grant • Real estate reinvestment grant
• Discounted sewer hookup fees and • Business location assistance (Charlotte County and Town of
rates (Accomack County Industrial • Rehabilitated real estate tax exemption Keysville)
Park) • BPOL tax exemption (Town of Keysville
Brunswick County #32B only)
Alleghany County #53A • Accelerated permit processing • Utility connection fee waiver (Town of
• Building permit fee reimbursement • Building permit fee waiver Keysville only)
• Rezoning fee reimbursement • Coordination with local banking • Waiver of tax liens (Town of Keysville
• Real estate tax reduction services only)
• Utility consumer tax reduction • Discounted land buy-down
• Business license tax reduction • Low-interest loans for fixed assets Chilhowie (Town) #51C
• Machinery and tools tax reduction • Machinery and tools tax grant • Building permit fee waiver
• Partial real estate tax exemption • Economic stimulus grant
• Water and sewer connection fee waiver • Water and sewer cost reductions
• BPOL tax credit
• Partial real estate tax exemption
22 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Clifton Forge (Town) #53C Emporia (City) #43B Greensville County #43A
• Building permit fee reimbursement • Business incubation grant • Building and zoning permit fee waiver
• Rezoning fee reimbursement • Business personal property grant • Discounted land buy-down
• Real estate tax reduction • Business, professional and occupational • Real estate tax grant
• Utility consumer tax reduction license fee waiver • Machinery and tools tax grant
• Business license tax reduction • Façade improvement grant • Water and sewer connection fee waiver
• Machinery and tools tax reduction • Machinery and tools tax grant
• Partial real estate tax exemption Halifax County #15
Clintwood (Town) #49B • Water and sewer connection fee waiver • Business, professional, and
• Water and sewer connection fee waiver • Zoning and building permit fee waiver occupational license fee waiver
• Workforce training opportunities • Chamber of Commerce membership
Franklin (City) #18A fee waivers
Covington (City) #53B • Accelerated permit processing • Discounted land buy-down
• Machinery and tools tax grant • Discounted land buy-down • Furniture, fixtures and equipment grant
• Partial business, professional and • Building rehabilitation tax incentive • Local real property investment grants
occupational license fee waiver • Machinery and tools tax rebate • Machinery and tools tax grant
• Partial real estate tax exemption • Electric utility tax rebate • Partial permit fee waivers by the town
• Permit and zoning fee waiver • Building code and land use of South Boston
• Small business loan program development fees rebate • Partial sales tax exemption in the town
• Utility consumption tax reduction • Fast track permitting process of South Boston
• Utility tax grant on electricity and
Danville (City) #1 and #57B Galax (City) #27C natural gas
• Building permit fee waiver • Building permit fee waiver • Workforce training opportunities
• Machinery and tools tax rebate • Water and sewer connection fee waiver • Hospitality stimulus program
• Industrial development grant
Glade Spring (Town) #51D
Dickenson County #49A • Partial real estate tax exemption
• Building and permit fee waivers • Business, professional and occupational
• Grants based on real estate taxes paid license credit
• Machinery and tools tax grant
• Partial real estate tax exemption Grayson County #27B
• Utility connection fee rebates • Building permit fee waiver
• Workforce training grants • Water and sewer connection fee waiver
23 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Hampton (City) #8 and #35 Henry County #46A and #54A Kilmarnock (Town) #50A
• Capital investment grant • Building permit fee waiver • Auto decal fee waiver
• Business, professional and occupational • Furniture, fixtures and equipment grant • Business, professional and occupational
license fee rebate • Machinery and tools tax grant license fee waivers
• Refund of local utility taxes • Partial real estate tax exemption • Capital investment and job creation
• Coliseum physical improvement grant • Water and sewer connection fee waiver incentives
• Coliseum central cooperative • Water and sewer connection fee
advertising program and security Hopewell (City) #9 waivers
improvement grant • Accelerated permit processing • Zoning, permit and subdivision fee
• Façade improvement grants • Crime prevention assessments waivers
• Manufacturing and innovation grant • Fire safety education seminars
• NASA Langley Research Center • Land development and permit fee Lancaster County #50B
Technology grant waiver • Capital investment and job creation
• Downtown Hampton and Phoebus • Partial business, professional and incentives
Retail Incentive grants occupational license fee waiver • Façade improvement grants
• Machinery and tools tax rebate • Micro-enterprise loan pool
Henrico County #28B • Partial real estate tax exemption • Partial real estate tax exemption
• Rehabilitation real estate tax exemption • Sewer connection fee waiver
• Architectural design assistance Lunenburg County #48B and #55A
• Program for façade and exterior Isle of Wight County #18C • Accelerated permit processing
(landscaping) improvements • Accelerated permit processing • Building permit fee waiver
• Building demolition and site • Local job creation grant • Tax-exempt industrial revenue bonds
preparation grant • Machinery and tools tax grant • Workforce training opportunities
• Freestanding signage grants • Permit fee waivers • Reduced/waived land cost in county
• Offsite improvement grants for industrial parks
draining, water and sewer, extending Kenbridge (Town) #55B • Reduced/waived cost of water and
broadband and construction or • Accelerated permit processing sewer extension
replacement of sidewalks • Building permit fee waiver • Reduced/waived cost of water and
• Parking lot sealing and paving and • Business, professional and occupational sewer connection fees
landscaping grant license fee waiver • Real estate tax grant
• Permit and plan review fee waivers • Discounted land buy-down • Machinery and tools tax grant
• Commercial revitalization staff • Tax-exempt industrial revenue bonds
assistance • Water and sewer connection fee waiver Lynchburg (City) #46
• Training seminars for businesses and reduced extension fees • Real estate rehabilitation program
• Workforce training • Local enterprise zone redevelopment
program
• Local enterprise zone loan pool
24 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Martinsville (City) #36 and #54B Newport News (City) #31 Norton #52B
• Building permit fee waiver • Expansion/relocation cost reduction • Real Estate Tax Grant
• Business, professional and occupational incentive • Machinery and tools tax grant
license fee rebate • Business, professional and occupational • Business personal property tax grant
• Furniture, fixtures and equipment grant license fee rebate • Building permit fee waiver
• Grant based on real estate taxes paid • Business license (BPOL) fee abatement • Façade improvement grant
• Machinery and tools tax grant & utility tax refund • Water and sewer connection fee
• Partial real estate tax exemption • Commercial rehabilitation property tax waivers
• Water and sewer connection fee waiver abatement
• Façade improvement grant Page County #30
Mecklenburg County #32A • Waiver of building permit and • Accelerated permit processing
• Discounted land buy-down in the development fees • Business, professional and occupational
Airport Industrial Park license fee rebate
• Machinery and tools tax grant Norfolk (City) #7 • Capital investment grants
• Business personal property grant • Building permit fee waiver • Development fee rebates
(Mecklenburg County and Towns of • Business, professional, and • Local sales, meals and lodging tax
South Hill and Clarksville) occupational license fee rebate partial refund
• Merchants Capital Grant (Mecklenburg • Marketing opportunities • Partial real estate tax exemption
County) • Partial real estate tax exemption • Small business loan program
• Building permit fee waiver (Town of • Utility consumption tax reduction
South Hill and Mecklenburg County) • Free recruiting provided by the city Patrick County #22A
• Zoning permit fee waiver (Towns of of Norfolk Department of Economic • Building permit fee waiver
Clarksville, La Crosse, and Chase City) Development’s Norfolk Works office • Machinery and tools tax grant
• Water and sewer connect fee refund • Partial real estate tax exemption
• Business license tax waiver (Towns of La Northampton County #26B
Crosse and Chase City) • Rehabilitated Structures tax exemption Petersburg (City) #10
• Local job creation grant • Machinery & Tools tax grant • Mechanical, plumbing and building
• Business personal property tax grant permit fee waiver
Newport News (City) #3 • Real Estate tax grant • Water and sewer permit fee waiver
• Expansion/relocation cost reduction • Façade Improvement grant • Water and sewer tap fee reduction
incentive • Development and permit fee rebates • Façade improvement grant
• Business license (BPOL) fee abatement • Architectural assistance grant
& utility tax refund Northumberland County #50C • Machinery and tools tax reduction
• Façade improvement grant • Capital investment and job creation
• Commercial rehabilitation property tax incentive
abatement
• Waiver of building permit &
development fees
25 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Pittsylvania County #24 and #57A Prince Edward County #48C Richmond (City) #19
• Dan River Businesses Development • Accelerated permit processing • Brownfields rebate
Center assistance • Architectural design fee rebate in • Business relocation rebate
• Discounted land buy-down Farmville Historic District • Development fee rebate
• Local job creation grant • Building permit fee waiver • Employment assistance grant
• Machinery and tools tax grant • Business security audit • Loan fee rebate
• Partial business, professional and • Crime Prevention through • Machinery and equipment rebate
occupational license fee waiver Environmental Design
• Partial real estate tax exemption • Discounted land buy-down in Prince Richmond County #50E
• Permit fee waiver Edward Business Park • Capital investment and job creation
• Regional Center for Applied Technology • Machinery and tools tax grants in select incentives
and Training assistance business parks • Partial real estate tax exemption
• Utility connection fee rebates • Partial real estate tax exemption • Meals tax reimbursement
• Permit fee waiver for select properties • Beautification grant
Portsmouth (City) #4 • Water and sewer connection fee • Loan forgiveness program
• Business personal property investment reduction (Town of Farmville)
grant Roanoke (City) #5
• Machinery and tools investment grant Prince George County #16 • Business security grant
• Development fee rebate • Business, professional and occupational • Permit fee rebates
• Commercial façade loan program license tax credit • Façade, parking and landscaping
• Corridor streetscape improvement • Machinery and tools tax rebate improvement grant
incentive • Utility connection fee discount • Fire suppression retrofit grant and
• Mixed-use development incentive • Zoning fee waiver connection fee rebate
• Commercial real estate rehabilitation • Partial real estate tax exemption
tax exemption Pulaski County #25 • Water and sewer and fire connection
• Building and equipment financing fee rebates
Portsmouth (City) #20 • Rebate of water and sewer connection
• Business personal property investment fees
grant • Reduction of water and sewer charges
• Machinery and tools tax grant per month
• Real estate investment grant • Building fee waivers
• Commercial real estate rehabilitation • Industrial revenue bond financing
tax exemption
• Development fee rebate Radford #25
• Commercial façade loan program • Utility connect fee rebate
• Corridor streetscape improvement • Machinery & tools tax rebate
incentive • Small business incentive grant
• Mixed-Use development incentive • Real estate tax relief
26 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Saltville (Town) #6A Smyth County #51A Tazewell County # 44
• Economic stimulus grant for • Economic stimulus grant for • Industrial development grant programs
manufacturers manufacturers • Partial real estate tax exemption
• Building permit fee rebate • Building permit fee rebate
• Water and sewer cost reductions • Water and sewer cost reductions Victoria (Town) #55C
• Real estate rehabilitation tax exemption • Real estate rehabilitation tax exemption • Accelerated permit processing
• BPOL tax credits (Town of Saltville) • BPOL tax credits (Towns of Chilhowie • Discounted land buy-down
• Tourism-business marketing incentive and Marion) • Tax-exempt industrial revenue bonds
(Town of Saltville) • Water and sewer connection and
• Downtown revitalization grant (Town of Southampton County #18B extension fee reduction
Saltville) • Accelerated permit processing
• Broadband access connection • Building permit fee waiver Warsaw (Town) #50F
• Loan application assistance • Discounted land buy-down • Capital investment and job creation
• Training assistance • Labor pool information incentives
• Machinery and tools tax grant • Façade improvement grants
Scott County #23 • Partial real estate tax exemption • Partial real estate tax exemptions
• Building permit and zoning fee waiver • Temporary office space
• CPA fee refund for EZ incentive • Utility tax grant for electricity Washington County #51
attestation • Workforce training • Building permit fee waiver
• Grant based on real estate taxes paid • Real property tax exemption
• Lodging tax grant Staunton (City) #17 • Rezoning permit fee waiver
• Machinery and tools tax grant • High tech business location and
• Merchant capital tax grant expansion Waynesboro (City) #14
• Professional jobs grant • Local façade grants
Smyth County #6B • Premier company location incentive • Local job creation grants
• Economic stimulus grant for • Creative class/entrepreneurship • Partial real estate tax exemption
manufacturers • Destination retail • Sidewalk and landscape enhancement
• Building permit fee rebate • Minority business incentive grants
• Water and sewer cost reductions • Property tax exemption
• Real estate rehabilitation tax exemption • Increased property tax exemption for Westmoreland County #50D
• BPOL tax credits (Town of Saltville) low impact development • Capital investment and job creation
• Tourism-business marketing incentive incentives
(Town of Saltville) Stuart (Town) #22B
• Downtown revitalization grant (Town of • Business, professional and occupational
Saltville) license fee reduction
• Broadband access connection • Machinery and tools tax grant
• Loan application assistance • Partial real estate tax exemption
• Training assistance • Water and sewer connection fee waiver
27 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix C | Local Incentives
Winchester (City) #21
• Growing business development
program waiver
• Business development grant for vacant
properties
• Commercial/industrial/mixed-use
property rehabilitation grant
• Commercial façade improvement loans
• Business growth revolving loan
• Major mixed-use development
incentive
• Micro-enterprise loan pool
• Exterior improvement grant
• Real estate development revolving loan
fund
Wise County #52
• Partial real estate tax grant
• Machinery and tools tax grant
• Business personal property tax grant
• Discounted land buy-down
• Building permit fee waiver
Wythe County #11
• Discounted land purchase price
• Reduced water rate
• Reduced wastewater rate
• Rebates of water connection fee
• Meals tax grant
• Lodging tax grant
• Building permit fee waiver
• Fast track permitting
• Joint IDA revolving loan fund interest
rate reduction
• Annual grant to qualifying high-wage,
high-investment, non-manufacturing
operations
28 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix D | Incentive Utilization
Zone Information Number of Grants Per Year Summary of 2024 Grants
Total Amount Percent
Zone # Community Acreage Designation Expiration 2024 2023 2022 2021 2020 of Grant of Total
Funding Amount
Charlotte County 773 0 0 1 0 0 $0.00 0.00%
Lunenburg County 405 0 0 0 0 0 $0.00 0.00%
48 2000 2033
Prince Edward
2,859 2 0 1 0 3 $153,143.24 1.12%
County
Dickenson County 3,645 0 0 0 0 0 $0.00 0.00%
49 Town of Clintwood 237 2000 2033 1 0 1 0 0 $200,000.00 1.46%
Town of Haysi 163 0 0 0 0 0 $0.00 0.00%
Town of Warsaw 961 1 1 2 1 4 $100,000.00 0.73%
Lancaster County 3,696 1 0 0 0 1 $100,000.00 0.73%
Northumberland
2,496 1 1 0 1 0 $100,000.00 0.73%
County
50 2000 2033
Richmond County 1,140 1 0 1 0 0 $73,004.13 0.53%
Westmoreland
3,786 4 1 3 2 2 $342,954.94 2.51%
County
Town of Kilmarnock 374 1 3 1 3 0 $70,495.72 0.51%
Smyth County 3,572 3 2 3 4 2 $215,455.80 1.57%
Washington County 3,594 5 6 4 2 1 $509,944.00 3.73%
51 Town of Chilhowie 505 2000 2033 0 0 0 0 0 $0.00 0.00%
Town of Glade
289 0 0 0 1 1 $0.00 0.00%
Spring
Alleghany County 3,608 1 0 1 2 0 $17,949.83 0.13%
Town of Clifton
53 246 2001 2034 0 0 0 0 1 $0.00 0.00%
Forge
City of Covington 639 1 0 0 0 3 $84,436.95 0.62%
Henry County 2934 2 5 2 1 2 $292,655.00 2.14%
54 2001 2034
City of Martinsville 527 0 1 0 0 2 $0.00 0.00%
29 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix D | Incentive Utilization
Lunenburg County 364 0 0 0 0 0 $0.00 0.00%
55 Town of Kenbridge 310 2001 2034 1 2 1 0 0 $100,000.00 0.73%
Town of Victoria 220 0 0 0 0 0 $0.00 0.00%
Pittsylvania County 3,428 2 4 5 3 4 $117,892.00 0.86%
57 2001 2034
City of Danville 1,608 2 3 4 4 3 $98,888.00 0.72%
Patrick County 3,621 1 2 1 0 0 $9,610.00 0.07%
22 2002 2035
Town of Stuart 176 0 0 0 0 0 $0.00 0.00%
City of Richmond
3,588 7 13 11 15 22 $719,049.00 5.25%
28 (North) 2003 2036
Henrico County 3,811 6 20 17 13 17 $334,959.60 2.45%
1 City of Danville 1,911 2004 2037 5 4 3 7 8 $348,693.34 2.55%
2 City of Lynchburg 2,198 2004 2037 10 8 5 10 11 $984,881.60 7.19%
City of Newport
3 3,839 2004 2037 10 24 4 10 15 $1,198,870.25 8.76%
News
5 City of Roanoke 1,904 2004 2037 7 2 6 7 11 $690,332.05 5.04%
Smyth County 619 0 0 0 0 0 $0.00 0.00%
6 2004 2037
Town of Saltville 357 0 0 0 0 0 $0.00 0.00%
8 City of Hampton 3,233 2005 2038 5 4 3 3 3 $425,969.58 3.11%
9 City of Hopewell 2,183 2005 2038 0 2 1 2 2 $0.00 0.00%
10 City of Petersburg 922 2005 2038 3 3 2 2 1 $400,000.00 2.92%
11 Wythe County 3,421 2005 2038 1 1 1 3 3 $100,000.00 0.73%
12 Town of Bedford 636 2005 2038 4 1 1 0 1 $454,374.90 3.32%
14 City of Waynesboro 608 2008 2041 2 0 0 0 2 $204,832.00 1.50%
15 Halifax County 2,853 2008 2041 3 7 5 5 4 $349,030.00 2.55%
Wise County 3,808 0 1 2 1 0 $0.00 0.00%
52 2008 2041
Norton 3,687 2 n/a n/a n/a n/a $112,656.00 0.82%
4 City of Portsmouth 1,468 2010 2043 1 5 5 4 3 $33,277.20 0.24%
7 City of Norfolk 2,371 2010 2043 6 9 7 8 13 $312,255.37 2.28%
Prince George
16 3,754 2010 2043 1 2 2 2 1 $16,000.00 0.12%
County
17 City of Staunton 699 2010 2043 2 1 1 2 3 $300,000.00 2.19%
30 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix D | Incentive Utilization
City of Franklin 878 0 2 0 2 0 $0.00 0.00%
Southampton
18 3412 2010 2043 0 0 0 0 0 $0.00 0.00%
County
Isle of Wight County 2,438 0 0 1 1 1 $0.00 0.00%
24 Pittsylvania County 3,132 2010 2043 0 1 0 0 0 $0.00 0.00%
City of Richmond
19 3,611 2013 2046 8 3 3 6 7 $694,451.93 5.07%
(South)
Greensville 3,280 0 0 0 0 0 $0.00 0.00%
43 2013 2046
City of Emporia 631 1 2 1 2 0 $100,000.00 0.73%
20 City of Portsmouth 3,659 2014 2047 2 1 2 3 2 $101,656.00 0.74%
21 City of Winchester 607 2014 2047 4 4 2 0 1 $225,039.85 1.64%
23 Scott County 3,133 2014 2047 2 2 2 1 0 $198,310.00 1.45%
Pulaski County 3,748 6 3 2 4 3 $637,587.00 4.66%
25 2014 2047
City of Radford 1,289 2 2 2 2 4 $129,335.80 0.94%
Accomack County 3,361 3 0 0 0 0 $225,562.61 1.65%
26 Northampton 2015 2048
2,993 1 1 2 2 1 $100,000.00 0.73%
County
Carroll County 3,658 0 0 1 0 0 $0.00 0.00%
27 Grayson County 1,231 2015 2048 0 0 0 1 0 $0.00 0.00%
City of Galax 638 0 0 0 1 3 $0.00 0.00%
29 City of Bristol 634 2015 0 3 2 3 4 $0.00 0.00%
2048
30 Page County 2,084 2015 0 0 0 0 4 $0.00 0.00%
City of Newport
31 3,236 2015 2048 5 6 3 2 2 $503,556.31 3.68%
News
Mecklenburg
2,738 0 0 1 2 1 $0.00 0.00%
32 County 2016 2049
Brunswick County 273 1 0 1 1 1 $100,000.00 0.73%
35 City of Hampton 3,636 2016 2049 3 2 2 3 2 $275,387.60 2.01%
Henry County 3,840 3 4 4 3 4 $316,260.00 2.31%
36 2016 2049
City of Martinsville 630 2 0 1 0 1 $200,000.00 1.46%
44 Tazewell County 3,786 2016 2049 1 1 2 2 2 $100,000.00 0.73%
46 City of Lynchburg 2,176 2016 2049 4 5 1 5 4 $209,885.00 1.53%
Total: Summary of 2024 Grants Total:
180 Amount: $13,688,642.60 100%
31 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
Appendix E | High Unemployment Areas (HUAs)
High Unemployment Areas (HUAs) are enterprise zone localities with unemployment rates one and one-half times (150%) or more than
the state average based on the most recent annualized unemployment data published by the Virginia Employment Commission. The
following localities are HUAs for Grant Year 2024:
2.9%
32 1 57 49
State
Brunswick Dickenson Unemployment
City of Danville Rate*
County County
*Virginia Employment
Commission annualized
unemployment number for 2023
The following localities in
43 9 10 joint zones with the HUAs
above are NOT HUAs:
Mecklenburg County
City of
City of Emporia City of Hopewell Pittsylvania County
Petersburg
Towns of Clintwood and Haysi
Mecklenburg County
Greensville County
Henry County
32 VIRGINIA ENTERPRISE ZONE GY2024 ANNUAL REPORT
GRANT YEAR 2025
Applications for the upcoming grant year, Grant Year 2025
(GY2025), are due April 1, 2026. The EZ Application Submission
Portal is open for submitting GY2025 January 1, 2026 – April 1,
2026. For the Job Creation Grant, zone investors that created
grant-eligible jobs anytime in calendar year 2025 (January 1,
2025 – December 31, 2025) are eligible for GY2025. For the Real
Property Investment Grant, zone investors that received final
placed-in-service documentation for qualified real property
investments in calendar year 2025 (January 1, 2025 – December
31, 2025) are eligible for GY2025.
ezone@dhcd.virginia.gov
dhcd.virginia.gov/vez
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