Community Resources
Our Community Relations experts can help connect you to the Department of Economic Development contacts enabling your company to gain the best resources available.
FUNDING PROGRAMS
The Commonwealth’s Development Opportunity Fund (COF) is a “deal-closing” fund to be employed at the Governor’s discretion to secure a company location or expansion in Virginia.
https://vedp.org/incentive/commonwealths-development-opportunity-fund-cof
Job Creation Grant
The Virginia Enterprise Zone (VEZ) program is a partnership between state and local government that encourages job creation and private investment.
https://vedp.org/incentive/virginia-enterprise-zone-job-creation-grant
Real Property Investment Grant
The Virginia Enterprise Zone (VEZ) program is a partnership between state and local government that encourages job creation and private investment.
https://www.vedp.org/incentive/virginia-enterprise-zone-job-creation-grant
Facility Job Tax Credit
Qualified companies locating or expanding in Virginia are eligible to receive a $1,000 income tax credit for each new full-time job created over a threshold number of jobs beginning in the first taxable year following the taxable year in which the major business facility commenced or expanded its operations.
https://vedp.org/incentive/major-business-facility-job-tax-credit
U.S. Foreign-trade zones
Foreign-trade zones are designated sites licensed by the Foreign-Trade Zones (FTZ) Board (Commerce Secretary is Chairperson) at which special customs procedures may be used. These procedures allow domestic activity involving foreign items to take place prior to formal customs entry.
https://www.trade.gov/about-ftzs